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1ST SOURCE REPORTS RECORD 1992 EARNINGS AND ANNOUNCES STOCK SPLIT

 SOUTH BEND, Ind., Jan. 26 /PRNewswire/ -- 1st Source Corporation (NASDAQ-NMS: SRCE) today reported income before cumulative effect of an accounting change of $14.6 million, representing $3.02 per common share and net income of $13.9 million for 1992, equivalent to $2.87 per common share, the highest in 1st Source history. Net income for 1992, after the cumulative effect of the accounting change, was 10.3 percent higher than the previous record of $12.6 million or $2.60 per common share set in 1991.
 While reporting that 1992 was the seventh consecutive year of record earnings for 1st Source, Ernestine M. Raclin, chairman of the board, and Christopher J. Murphy III, president and chief executive officer, announced that the board of directors approved a 3-for-2 stock split. The split of 1st Source common stock follows a 5-for-4 split declared in January, 1992, and a 5-percent stock dividend declared in January, 1991.
 On a per-share-of-common-stock basis after the non-recurring charge and adjustment for stock splits, net income for 1992 was $1.92, up 10.3 percent from the $1.74 of 1991, and net income for 1992's fourth quarter was $0.56 or 24.4 percent higher than the $0.45 of 1991's fourth quarter.
 Raclin said the board also declared a cash dividend of $0.09 per share for the fourth quarter of 1992. The dividend is 20.5 percent higher than the $0.075 per share dividend paid a year ago after adjustment for the stock split. The dividend is payable Feb. 15, 1993 to shareholders of record Feb. 5, 1993. The dividend will be paid on the shares created by the split as well as those outstanding prior to the split.
 On income before the non-recurring charge, 1st Source Corporation, parent company of 1st Source Bank, had a return on average total assets for 1992 of 1.10 percent compared to 1.04 percent in 1991. Return on average common shareholders' equity for 1992 was 14.35 percent before and 13.76 percent after the non-recurring charge.
 Murphy explained that the 1992 net income figure takes into account the cumulative effect of an accounting change of $696,000 for future employee retirement benefits as required under SFAS 106. Without the effects of this non-recurring charge, which was recorded as of the first of 1992, net income for the year would have been $14.6 million or 15.8 percent higher than a year ago.
 For the fourth quarter of 1992, net income was $4.06 million, up 24.3 percent from the fourth quarter a year ago while return on average total assets was 1.17 percent compared to 1.04 percent for the fourth quarter of 1991.
 Raclin said, "Our long-term focus on both our regional market and on our national niche business is producing solid results. We're positioned to deal with uncertainty and take advantage of an improving economy."
 Murphy noted that the record performance was accompanied by continued strengthening of the balance sheet. At the end of 1992, common shareholders' equity was up 12.2 percent from a year earlier and the equity-to-assets ratio was 7.70 percent compared to 7.42 percent at the end of 1991. The reserve for loan losses was 2.00 percent of total loans as of Dec. 31, 1992, compared to 1.99 percent a year earlier. The ratio of nonperforming assets to net loans was 1.00 percent at the end of 1992 equal to the 1.00 percent at the end of 1991, a ratio which compares very favorably to peer banks.
 At year-end 1992, total assets were $1.40 billion, up 8.1 percent from a year earlier, while deposits were up 9.4 percent and total loans up 15.8 percent.
 1st Source Corporation has five subsidiaries: 1st Source Bank; 1st Source Bank of Starke County; 1st Source Capital Corporation; 1st Source Leasing and 1st Source Insurance. In addition to its NASDAQ listing, 1st Source stock appears in the National Market System tables in many daily newspapers under the code name "FstSource."
 Marketmakers in 1st Source shares are The Chicago Corporation; City Securities Corporation, Herzog, Heine, Geduld, Inc.; J.B. Hilliard, W.L. Lyons, Inc., Edward D. Jones & Company; Raffensperger, Hughes & Co., Inc.; Roney & Company and Stifel, Nicolaus & Company Incorporated.
 1ST SOURCE CORPORATION
 Financial Highlights
 ($ in thousands except per-share data; unaudited)
 3 Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1992 1991 1992 1991
 End of Period Balances:
 Assets --- --- $1,400,249 $1,295,883
 Deposits --- --- 1,154,887 1,055,553
 Total loans (net of
 unearned) --- --- 956,416 826,184
 Shareholders' equity --- --- 107,797 96,099
 Book value per share(a) --- --- 14.97 13.37
 Shares outstanding(a) --- --- 7,200,800 7,189,223
 Income Data:
 Net interest income $14,741 $12,983 $56,364 $50,568
 Net income(b) 4,058 3,264 13,918 12,616
 Per Share Data:
 Net income per share (before
 stock split)(b) $.84 $.68 $2.87 $2.60
 Net income per share (after
 stock split) .56 .45 1.92 1.74
 Cash dividends(a) .087 .075 .321 .285
 Market value - high(a) 23.75 16.00 23.75 16.50
 Market value - low(a) 20.00 13.50 15.75 7.75
 Average Balances:
 Assets $1,384,309 $1,247,518 $1,329,980 $1,215,362
 Deposits 1,133,255 1,029,025 1,090,505 1,011,854
 Total loans (net of
 unearned) 937,524 805,591 894,163 791,028
 Shareholders' equity 105,706 94,582 101,143 91,359
 Average earning assets 1,293,700 1,165,977 1,245,144 1,137,229
 Key Ratios (based on average):
 Return on assets(b) (pct) 1.17 1.04 1.05 1.04
 Return on equity(b) (pct) 15.27 13.69 13.76 13.81
 Equity to assets (pct) 7.64 7.58 7.60 7.52
 Net interest margin (pct) 4.80 4.68 4.79 4.73
 Net charge offs to average
 net loans (pct) .33 (.01) .20 .20
 Nonperforming assets to
 net loans (end of
 period) (pct) 1.00 1.00 1.00 1.00
 (a) Per-share figures have been adjusted for a 3-for-2 stock split declared Jan. 25, 1993.
 (b) Year-to-date 1992 figures reflect a non-recurring after-tax charge of $696,000 for employee retirement benefits as required under SFAS 106. Without the charge, which was recorded as of the first quarter of 1992, affected year-to-date figures are as follows:
 Net income $14,614
 Net income per share $3.02
 Return on assets 1.10 pct
 Return on equity 14.35 pct
 -0- 1/26/93
 /CONTACT: Linda Krzyzaniak of 1st Source Corporation, 219-235-2643/
 (SRCE)


CO: 1st Source Corporation ST: Indiana IN: FIN SU: ERN

DH-ML -- DE003 -- 8893 01/26/93 08:15 EST
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Date:Jan 26, 1993
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