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1st Source Corporation (Parent Company Only) Financial Information | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
1st Source Corporation (Parent Company Only) Financial Information | 1st Source Corporation (Parent Company Only) Financial Information STATEMENTS OF FINANCIAL CONDITION
December 31 (Dollars in thousands) |  | 2021 |  | 2020
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 94,543 |  |  | $ | 113,242 |
Short-term investments with bank subsidiary |  | 500 |  |  | 500 |
Investments in: |  |  |  |
Bank subsidiaries |  | 907,238 |  |  | 858,993 |
Non-bank subsidiaries |  | 1 |  |  | 1 |
Right of use assets |  | 16,106 |  |  | 17,452 |
Other assets |  | 6,877 |  |  | 5,251 |
Total assets |  | $ | 1,025,265 |  |  | $ | 995,439 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |
Commercial paper |  | $ | 3,967 |  |  | $ | 4,767 |
Long-term debt and mandatorily redeemable securities |  | 27,102 |  |  | 26,681 |
Subordinated notes |  | 58,764 |  |  | 58,764 |
Operating lease liability |  | 15,463 |  |  | 17,369 |
Other liabilities |  | 3,714 |  |  | 1,013 |
Total liabilities |  | 109,010 |  |  | 108,594 |
Total shareholders’ equity |  | 916,255 |  |  | 886,845 |
Total liabilities and shareholders’ equity |  | $ | 1,025,265 |  |  | $ | 995,439 |
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Year Ended December 31 (Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Income: |  |  |  |  |  |
Dividends from bank subsidiary |  | $ | 46,207 |  |  | $ | 46,207 |  |  | $ | 46,735 |
Rental income from (reimbursements to) subsidiaries |  | 1,873 |  |  | (908) |  |  | 2,505 |
Other |  | 146 |  |  | 293 |  |  | 366 |
Investment securities and other investment gains (losses) |  | 342 |  |  | (44) |  |  | 109 |
Total income |  | 48,568 |  |  | 45,548 |  |  | 49,715 |
Expenses: |  |  |  |  |  |
Interest on subordinated notes |  | 3,267 |  |  | 3,367 |  |  | 3,677 |
Interest on long-term debt and mandatorily redeemable securities |  | 1,799 |  |  | 2,151 |  |  | 2,228 |
Interest on commercial paper and other short-term borrowings |  | 3 |  |  | 11 |  |  | 13 |
Occupancy |  | 1,722 |  |  | 1,816 |  |  | 1,861 |
Other |  | 711 |  |  | 667 |  |  | 586 |
Total expenses |  | 7,502 |  |  | 8,012 |  |  | 8,365 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  | 41,066 |  |  | 37,536 |  |  | 41,350 |
Income tax benefit |  | 998 |  |  | 1,747 |  |  | 987 |
Income before equity in undistributed income of subsidiaries |  | 42,064 |  |  | 39,283 |  |  | 42,337 |
Equity in undistributed income of subsidiaries: |  |  |  |  |  |
Bank subsidiaries |  | 76,493 |  |  | 42,178 |  |  | 49,678 |
Net income |  | $ | 118,557 |  |  | $ | 81,461 |  |  | $ | 92,015 |
Comprehensive income |  | $ | 90,325 |  |  | $ | 94,660 |  |  | $ | 107,863 |
STATEMENTS OF CASH FLOWS
Year Ended December 31 (Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Operating activities: |  |  |  |  |  |
Net income |  | $ | 118,557 |  |  | $ | 81,461 |  |  | $ | 92,015 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity (undistributed) distributed in excess of income of subsidiaries |  | (76,493) |  |  | (42,178) |  |  | (49,678) |
Depreciation of premises and equipment |  | 1 |  |  | 2 |  |  | 2 |
Amortization of right of use assets |  | 1,346 |  |  | 1,107 |  |  | 1,350 |
Stock-based compensation |  | 102 |  |  | 94 |  |  | 78 |
Realized/unrealized investment securities and other investment (gains) losses |  | (342) |  |  | 44 |  |  | (109) |
Other |  | 1,556 |  |  | (103) |  |  | 533 |
Net change in operating activities |  | 44,727 |  |  | 40,427 |  |  | 44,191 |
Investing activities: |  |  |  |  |  |
Net change in partnership investments |  | (74) |  |  | (182) |  |  | (260) |
Capital contribution to subsidiary |  | — |  |  | — |  |  | (325) |
Net change in investing activities |  | (74) |  |  | (182) |  |  | (585) |
Financing activities: |  |  |  |  |  |
Net change in commercial paper |  | (800) |  |  | 774 |  |  | (332) |
Proceeds from issuance of long-term debt and mandatorily redeemable securities |  | 1,738 |  |  | 1,640 |  |  | 1,611 |
Payments on long-term debt and mandatorily redeemable securities |  | (2,427) |  |  | (2,268) |  |  | (2,068) |
Stock issued under stock purchase plans |  | 90 |  |  | 39 |  |  | 49 |
Net proceeds from issuance of treasury stock |  | 2,523 |  |  | 1,706 |  |  | 1,878 |
Acquisition of treasury stock |  | (33,136) |  |  | (6,415) |  |  | (15,085) |
Cash dividends paid on common stock |  | (31,340) |  |  | (29,764) |  |  | (29,021) |
Net change in financing activities |  | (63,352) |  |  | (34,288) |  |  | (42,968) |
Net change in cash and cash equivalents |  | (18,699) |  |  | 5,957 |  |  | 638 |
Cash and cash equivalents, beginning of year |  | 113,242 |  |  | 107,285 |  |  | 106,647 |
Cash and cash equivalents, end of year |  | $ | 94,543 |  |  | $ | 113,242 |  |  | $ | 107,285 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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