Chesterton Tribune

 

 

1st Source Bank celebrates 150 years

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This year 1st Source Bank is celebrating 150 years in business, with the year-long celebration beginning today at an all-employee kick-off event at the Morris Performing Arts Center.

Marketing and special events will continue throughout the year to mark the monumental occasion.

“1st Source is pleased to celebrate 150 years of service to our clients and the community,” Chair and CEO Christopher Murphy III said in a statement released today. “For 150 years, we’ve focused on being distinctively convenient, providing straight talk and sound advice and always keeping our clients’ best interests in mind, while serving them in a very personal way. The bank’s longevity is thanks to the continued support of individuals and businesses in our community and we look forward to being here for another 150 years.”

“Started in 1863 as the First National Bank of South Bend, 1st Source has a long history as a strong, stable, local and personal bank,” the statement said. “In 1931, the bank’s name was changed to the First Bank and Trust Company after a merger engineered by community leaders Ernest Morris and Vincent Bendix. The Morris family has continued to lead the bank since 1931, including Morris’s daughter, Ernestine Morris Carmichael Raclin, and her son-in-law, Christopher J. Murphy III, who continues today as the bank’s Chairman and CEO. Since 1981, the bank has been known as 1st Source Bank.”

Further details about the year-long anniversary celebration will be announced as the year continues.

Some 1st Source facts:

* When 1st Source opened its doors in 1863, the Civil War was raging and Abraham Lincoln was president. Since then, the bank has seen 28 other presidents.

* The bank opened its first branch in 1935, the first branch office of any Northern Indiana bank.

* 1st Source’s popular time and temperature phone line, first started in 1940, continues to receive more than 2.7 million calls each year.

* In 1940, 1st Source opened South Bend’s first drive-up branch at its new headquarters at the corner of Main and Jefferson.

* In 1977, the bank introduced First Card, an early ATM card, to give clients greater convenience in accessing their money. Today, 1st Source processes 1.5 million debit card purchase transactions each month.

* Over the years, the 1st Source family has been expanded to include the First National Bank of Mishawaka, Bremen State Bank, Marshall County Bank, Community State Bank of North Liberty, Hamlet State Bank, Farmers State Bank of Wyatt, Standard Federal Bank of Fort Wayne and First National Bank Valparaiso.

* 1st Source has grown over the years to include 76 banking centers in 17 counties, 22 Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and nine 1st Source Insurance locations.

1st Source Corporation, parent company of 1st Source Bank, has assets of $4.56 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area.

1st Source common stock is traded on the NASDAQ Global Select Market under “SRCE” and appears in the National Market System tables in many daily newspapers under the code name “1st Src.” For more information, visit www.1stsource.com

 

 

 

Posted 6/12/2013