1st Source Bank has been named to Bank Director Magazine’s Nifty Fifty list of high performing banks.
The bank was ranked No. 24 on the list, based on which banks best use capital, determined by profitability and capital strength.
The bank, which has multiple Porter County locations, was one of three in Indiana to make the list.
“We are pleased to be recognized on Bank Director Magazine’s ‘Nifty Fifty’ list of high performing banks,” 1st Source Chairman and CEO Christopher J. Murphy III said in a news release.
It reflects the bank's strong position as well as its commitment to clients and shareholders, he said.
"Because of our strong balance sheet, we are able to be distinctively convenient, provide straight talk and sound advice to our clients, and always keep their best interests in mind, as we have for the last 150 years,” he said.
The magazine, in cooperation with Sandler O’Neill + Partners, used data from eight consecutive quarters through June 2012 to compile the rankings. They measured banks and thrifts that publicly trade on the NYSE, Nasdaq or NYSE Amex stock exchanges.
1st Source Corp., parent company of 1st Source Bank, has assets of $4.55 billion.
The corporation includes 76 banking centers in 17 counties, 22 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and nine 1st Source Insurance offices.