1st Source Rises on Regional Bank Rally; Eyes on Credit Ahead
1st Source Corp. climbed 2.7% to $74.65 late Thursday as regional banks bounced. That move put the South Bend, Indiana bank’s market cap near $1.81 billion. Shares changed hands between $73.31 and $74.90, with trading volume at roughly 131,400 shares. Smaller bank stocks have mostly followed the same playbook lately, with investors focusing on funding costs, loan demand and credit losses instead of growth stories. 1st Source moved after its first-quarter numbers, which showed profit up from a year ago, a raised dividend and a higher loan loss reserve.