SOUTH BEND — Forbes has ranked 1st Source Bank number 25 on its America’s Best Banks list, higher than any other bank based in Indiana or southwestern Michigan.

SNL Financial provided the information Forbes used to determine which banks deserved the nod. SNL gauged eight criteria from the third quarter of 2012: non-performing loans, non-performing assets, reserves, net interest margin, return on average equity, a leverage ratio and two capital ratios.

Each year, Forbes reviews the 100 largest publicly held financial institutions to find its best banks in the country. 1st Source Corporation is headquartered in South Bend.