1st Source (SRCE) AGM 2026 summary

Opening remarks and agenda

• The meeting began with a welcome from the Executive Chairman, outlining the agenda: official business, financial review, and Q&A session.

Board and executive committee updates

• Four directors, including the Executive Chairman, were introduced for re-election, each with extensive experience in finance, banking, and business leadership.

• Detailed backgrounds of the nominees highlighted expertise in banking, finance, media, and communications.

• A successful leadership transition was noted, with Andrea Short assuming the CEO role in October 2025.

Financial performance review

• 2025 saw record earnings, with net income up nearly 20% to $158 million and EPS rising to $6.41.

• Average deposits grew to over $7.3 billion in 2025, with a slight decline in Q1 2026 due to strategic reduction in brokered CDs.

• Loans and leases increased to just under $6.9 billion in 2025 and surpassed $7 billion in Q1 2026, driven by commercial lending.

• Non-performing assets rose in 2025 due to isolated credits but remained manageable and stable into 2026.

• Return on assets reached 1.76% and return on equity 13.16% in 2025, with continued momentum into 2026.