Applications / Mortgage Analytics / Lenders / Indiana / 1st Source Bank
South Bend, IN · State member bank · FRS · $9.1 billion assets · 1,930 loans in 2025
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1,930
loans originated, 2025
2,825
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
1st Source Bank is an Indiana bank of small loans for refinancing, home improvement and other purposes: its typical loan was $105,000, against $205,000 at similar lenders.
Home purchases were only 22.6% of its loans; refinances were 36.8%, home improvement 19.2% and other purposes 21.4%. Its typical loan was smaller than at nearly all similar lenders (state member banks making between half and twice as many loans). Almost all its lending, 99.1%, was conventional, with 0.8% FHA (insured by the Federal Housing Administration) against 2.9% at peers.
LMI (low- and moderate-income) borrowers took 31.9% of its loans, against 26.3% at similar lenders, a higher share than about three-quarters of them, and up from 24.8% five years before. Its shares in LMI areas, 13.9%, and in majority-minority areas, 5.1%, were lower than peers' 15.7% and 9.4%; the make-up of the Indiana markets it mainly serves is one possible reason.
Its share rose 0.5 points to 3.5% in Elkhart-Goshen, where it ranked 8 of 201 lenders, and 0.2 points to 1.3% in Fort Wayne, where it ranked 21 of 304. South Bend-Mishawaka has been its home market since before 1990.
Originations rose 1% to 1,930, while similar lenders grew 3% and the whole market 10%. That is about half its 3,577 loans of 2020, when its typical rate was 3.50%; in 2025 it was 7.50%.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. 1st Source Bank took 2,825 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 36.8% · Purchase 22.6% · Other 21.4% · Home improvement 19.2%
Conventional 99.1% · FHA 0.8% · USDA (RHS or FSA) 0.1% · of 1,930 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Indiana | 1,724 | 89.3% |
| Michigan | 174 | 9.0% |
| Florida | 22 | 1.1% |
| Illinois | 8 | 0.4% |
| Arizona | 2 | 0.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| South Bend-Mishawaka | 651 |
| Fort Wayne | 215 |
| Elkhart-Goshen | 193 |
| Lake County-Porter County-Jasper County | 148 |
| Michigan City-La Porte | 120 |
| Niles | 69 |
| Lafayette-West Lafayette | 56 |
| Indianapolis-Carmel-Greenwood | 55 |
| Kalamazoo-Portage | 15 |
| North Port-Bradenton-Sarasota | 5 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | LCUAWMT4M5H8DJ8DFH49 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 991340 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2991340 | 1990–2017 |
Established 1 January 1922. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: 1st Source Bank's data.
1st Source Bank's data
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1st Source Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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