1st Source Corp. reported net income of $12.57 million for the second quarter.
Posted: 08/03/2012 at 1:15 am
Chairman and CEO Christopher Murphy III said in an announcement it was a good quarter. “Loans were up a strong 4.89 percent from a year ago, we grew our deposits and total assets, our net interest margin is holding stady, our total nonperforming assets have declined 27.1 percent from a year ago and credit quality continues to improve,” Murphy said.
“We continue to be cautious about the economy. It seems as soon as one sector improves, another faces challenges. Locally the RV industry is improving, while agriculture is hit with a drought,” he said.
He also said, “With the uncertainties in Washington, a stalled Congress and a presidential election coming up, we look for little steam in the economy.”