1st Source Bank was founded in 1863 when the Civil War was raging.
Many of its contemporaries have since failed, merged with competitors or gotten swallowed up by bigger institutions. But the South Bend-based bank, which has an extensive presence in Porter and LaPorte counties, has persevered.
The state recently recognized 1st Source Bank for its longevity and community service. Gov. Mike Pence honored 12 companies, including 1st Source, with the Governor's Century Business Award.
"By remaining dedicated to constant improvement and committed to founding principles, the roots of these 12 Hoosier businesses extend deeply throughout the communities they call home," he said at the Indiana Historical Society's Founders Day Dinner in Indianapolis. "Their perseverance is a testament to the work ethic and drive that make Indiana a state that works. Our state is a better place because of their decisions a century or more ago to launch a business and we thank them for their continued commitment to this state."
The award recognizes companies that have been in business for at least 100 consecutive years, and that have contributed to the economic growth and prosperity of the state. About 400 companies from across the state have received the honor since it was introduced 23 years ago.
1st Source has assets of $4.64 billion and more than 75 banking centers in northern Indiana and southwestern Michigan. Locally, the bank has branches in Chesterton, Hebron, La Porte, Michigan City, Portage, Valparaiso and Westville.