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The Journal Gazette

Tuesday, December 01, 2015 2:49 pm

1st Source Bank extending reach

Paul Wyche The Journal Gazette

South Bend-based 1st Source Bank will break ground on two new Fort Wayne branches later this month.

The expansion is a vote of confidence in the Summit City’s future, Larry Mayers, a 1st Source regional president, said Tuesday.

Mayers described it as a multimillion-dollar investment but declined to be specific.

“We see Fort Wayne as a growth market,” he said. “As the larger banks continue to consolidate and close, we think we offer the type of (personal) banking residents are looking for.”

The new bank branches initially will create a dozen jobs. They will take root at 7821 Carnegie Blvd. near Illinois Road and at 4605 E. Dupont Road at Dupont Commons Shopping Center.

Each branch will offer a complete slate of financial services for businesses and individuals, including checking, investments, loans, mortgages, insurance and other products.

1st Source has 10 locations in northeast Indiana. It is a subsidiary of 1st Source Corp., which has nearly $5 billion in assets. 

The institution includes 78 banking centers in 17 counties, 21 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and eight 1st Source Insurance offices. 

1st Source common stock is traded on the Nasdaq Global Select Market under SRCE.