1st Source Corporation (Parent Company Only) Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of statements of financial condition

STATEMENTS OF FINANCIAL CONDITION

December 31(Dollars in thousands)	2014		2013
ASSETS
Cash and cash equivalents	$	51,725	$	54,348
Short-term investments with bank subsidiary	500		500
Investment securities, available-for-sale (amortized cost of $1,218 at December 31, 2014 and 2013)	6,240		5,636
Other investments	1,470		1,470
Trading account securities	205		192
Investments in:
Bank subsidiaries	639,035		607,695
Non-bank subsidiaries	1,165		2,374
Other assets	6,356		5,475
Total assets	$	706,696	$	677,690
LIABILITIES AND SHAREHOLDERS’ EQUITY
Commercial paper borrowings	$	12,168	$	12,351
Other liabilities	3,641		5,373
Long-term debt and mandatorily redeemable securities	17,650		15,824
Subordinated notes	58,764		58,764
Total liabilities	92,223		92,312
Shareholders’ equity	614,473		585,378
Total liabilities and shareholders’ equity	$	706,696	$	677,690

Schedule of statements of income

STATEMENTS OF INCOME

Year Ended December 31 (Dollars in thousands)	2014			2013		2012
Income:
Dividends from bank subsidiary	$	33,810		$	30,429	$	58,739
Rental income from subsidiaries	2,314			2,165		1,873
Other	408			418		499
Investment securities and other investment (losses) gains	(370		)	626		273
Total income	36,162			33,638		61,384
Expenses:
Interest on subordinated notes	4,220			4,220		6,484
Interest on long-term debt and mandatorily redeemable securities	1,475			999		1,108
Interest on commercial paper and other short-term borrowings	36			23		17
Rent expense	1,713			1,698		1,635
Other	2,553			639		354
Total expenses	9,997			7,579		9,598
Income before income tax benefit and equity in undistributed (distributed in excess of) income of subsidiaries	26,165			26,059		51,786
Income tax benefit	2,722			1,650		2,274
Income before equity in undistributed (distributed in excess of) income of subsidiaries	28,887			27,709		54,060
Equity in (distributed in excess of) undistributed income of subsidiaries:
Bank subsidiaries	28,891			26,995		(4,690		)
Non-bank subsidiaries	291			254		263
Net income	$	58,069		$	54,958	$	49,633

Schedule of statements of cash flow

STATEMENTS OF CASH FLOWS

Year Ended December 31 (Dollars in thousands)	2014			2013			2012
Operating activities:
Net income	$	58,069		$	54,958		$	49,633
Adjustments to reconcile net income to net cash provided by operating activities:
Equity (undistributed) distributed in excess of income of subsidiaries	(29,182		)	(27,249		)	4,427
Depreciation of premises and equipment	21			30			39
Realized/unrealized investment securities and other investment losses (gains)	370			(626		)	(273		)
Change in trading account securities	(13		)	(46		)	(14		)
Other	(1,759		)	1,714			3,600
Net change in operating activities	27,506			28,781			57,412
Investing activities:
Proceeds from sales and maturities of investment securities	—			9			500
Purchases of other investments	—			—			(1,470		)
Net change in premises and equipment	—			—			(6		)
Return of capital from subsidiaries	1,500			1			—
Net change in investing activities	1,500			10			(976		)
Financing activities:
Net change in commercial paper	(183		)	7,692			(3,342		)
Proceeds from issuance of long-term debt and mandatorily redeemable securities	1,356			1,331			2,627
Payments on subordinated notes	—			—			(30,928		)
Payments on long-term debt and mandatorily redeemable securities	(569		)	(397		)	(317		)
Net proceeds from issuance of treasury stock	1,752			3,655			3,935
Acquisition of treasury stock	(16,342		)	(2,273		)	(3,701		)
Cash dividends paid on common stock	(17,643		)	(17,054		)	(16,522		)
Net change in financing activities	(31,629		)	(7,046		)	(48,248		)
Net change in cash and cash equivalents	(2,623		)	21,745			8,188
Cash and cash equivalents, beginning of year	54,348			32,603			24,415
Cash and cash equivalents, end of year	$	51,725		$	54,348		$	32,603