1ST SOURCE CORP Files Definitive Proxy Statement (DEF 14A)

Ticker: SRCE · Form: DEF 14A · Filed: Mar 15, 2024 · CIK: 34782

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, 1st Source Corp, Corporate Governance, Shareholder Meeting

TL;DR

<b>1st Source Corporation has filed its Definitive Proxy Statement (DEF 14A) for the period ending April 25, 2024.</b>

AI Summary

1ST SOURCE CORP (SRCE) filed a Proxy Statement (DEF 14A) with the SEC on March 15, 2024. 1st Source Corporation filed a Definitive Proxy Statement (DEF 14A) on March 15, 2024. The filing covers the period ending April 25, 2024. The company's fiscal year ends on December 31. 1st Source Corporation is classified under SIC code 6022 (State Commercial Banks). The company was formerly known as FBT Bancorp Inc., with a name change on August 18, 1982.

Why It Matters

For investors and stakeholders tracking 1ST SOURCE CORP, this filing contains several important signals. This DEF 14A filing provides crucial information for shareholders regarding upcoming votes and executive compensation, impacting their decision-making process. As a state commercial bank, the details within this proxy statement are important for understanding the company's governance and financial direction.

Risk Assessment

Risk Level: low — 1ST SOURCE CORP shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant new developments.

Analyst Insight

Shareholders should review the proxy statement to understand executive compensation, board nominations, and any proposals to be voted on at the upcoming meeting.

Key Numbers

Key Players & Entities

FAQ

When did 1ST SOURCE CORP file this DEF 14A?

1ST SOURCE CORP filed this Proxy Statement (DEF 14A) with the SEC on March 15, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by 1ST SOURCE CORP (SRCE).

Where can I read the original DEF 14A filing from 1ST SOURCE CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by 1ST SOURCE CORP.

What are the key takeaways from 1ST SOURCE CORP's DEF 14A?

1ST SOURCE CORP filed this DEF 14A on March 15, 2024. Key takeaways: 1st Source Corporation filed a Definitive Proxy Statement (DEF 14A) on March 15, 2024.. The filing covers the period ending April 25, 2024.. The company's fiscal year ends on December 31..

Is 1ST SOURCE CORP a risky investment based on this filing?

Based on this DEF 14A, 1ST SOURCE CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant new developments.

What should investors do after reading 1ST SOURCE CORP's DEF 14A?

Shareholders should review the proxy statement to understand executive compensation, board nominations, and any proposals to be voted on at the upcoming meeting. The overall sentiment from this filing is neutral.

How does 1ST SOURCE CORP compare to its industry peers?

1st Source Corporation operates within the State Commercial Banks industry (SIC 6022).

Are there regulatory concerns for 1ST SOURCE CORP?

As a state commercial bank, 1st Source Corporation is subject to regulations specific to financial institutions operating within Indiana and federally.

Industry Context

1st Source Corporation operates within the State Commercial Banks industry (SIC 6022).

Regulatory Implications

As a state commercial bank, 1st Source Corporation is subject to regulations specific to financial institutions operating within Indiana and federally.

What Investors Should Do

  1. Review executive compensation details and any proposed changes.
  2. Examine board member nominations and qualifications.
  3. Understand any shareholder proposals and the company's recommendation.

Year-Over-Year Comparison

This is a routine DEF 14A filing and does not appear to represent a change from previous filings of this type.

Filing Stats: 4,588 words · 18 min read · ~15 pages · Grade level 10.8 · Accepted 2024-03-15 10:38:10

Filing Documents

From the Filing

source-20240314 United States Securities and Exchange Commission Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the registrant x Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for use of the Commission Staff Only (as permitted by Rule 14a-6(e) (2)) x Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material under Sec.240.14a-12 (Name of Registrant as Specified in its Charter) ___________________________________________________________ (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): x No fee required o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: ___________________________________________________________ (2) Aggregate number of securities to which transaction applies: ___________________________________________________________ (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): ___________________________________________________________ (4) Proposed maximum aggregate value of transaction: ___________________________________________________________ (5) Total fee paid: ___________________________________________________________ o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of filing. (1) Amount Previously paid: ___________________________________________________________ (2) Form, Schedule or Registration Statement No.: ___________________________________________________________ (3) Filing Party: ___________________________________________________________ (4) Date Filed: ___________________________________________________________ Notice of Annual Meeting of Shareholders and Proxy Statement To the Shareholders of 1st Source Corporation: The Annual Meeting of Shareholders of 1st Source Corporation will be held virtually via live webcast at www.virtualshareholdermeeting.com/SRCE2024 , on April 25, 2024, at 8:00 a.m. Eastern Daylight Time, for the purpose of considering and voting upon the following matters: 1. Election of Directors. Election of four directors for terms expiring in 2027. (Pages 3-5) 2. Ratification of the appointment of FORVIS, LLP as 1st Source Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2024. (Page 43) 3. Other Business. Such other matters as may properly come before the meeting or any adjournment thereof. Shareholders of record at the close of business on February 16, 2024, are entitled to vote at the meeting. By Order of the Board of Directors, John B. Griffith Secretary South Bend, Indiana March 15, 2024 Please date and sign the proxy and return it promptly. If you do attend the meeting, you may, nevertheless, vote in person and revoke a previously submitted proxy. 1st SOURCE CORPORATION P.O. Box 1602 South Bend, Indiana 46634 PROXY STATEMENT This Proxy Statement is furnished in connection with the 2024 Annual Meeting of Shareholders of 1st Source Corporation ("1st Source" or "the Company"). When and where is the Annual Meeting? April 25, 2024, at 8:00 a.m. Eastern Daylight Time ("EDT"). The 2024 Annual Meeting will be held virtually via live webcast at www.virtualshareholdermeeting.com/SRCE2024 . To participate in the virtual Annual Meeting, you must log-in using the 16-digit control number included on your notice of Internet availability of the proxy materials, on your proxy card, or on the instructions that accompanied your proxy materials. You may begin to log into the meeting platform beginning at 7:30 a.m. EDT on April 25, 2024. Shareholders should give themselves plenty of time to log in and ensure that they can hear streaming audio prior to the start of the meeting. If you experience any technical difficulties during the meeting, a toll-free number will be available on our virtual shareholder meeting site for assistance. Shareholders will also be able to vote and submit questions during the virtual meeting using the directions on the meeting website that day. All shareholders will need their control number to vote or ask questions. Whether or not shareholders plan to attend the virtual Annual Meeting, 1st Source urges all shareholders to vote in advance of the meeting by one of the methods described in these proxy materials for the Annual Meeting. Who may vote at the meeting? Shareh

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