
1st Source Corporation leverages specialty lending and excess capital to generate record earnings and outpace peers on ROA and efficiency. SRCE trades at a significant discount to peers, despite a robust 2.12% ROA, 4.28% NIM, and CET1 ratio of 15.95%. My fair value target is $99 per share, offering 12.5% upside plus a 1.80% dividend; Buy rating is justified by operational strength and conservative estimates.










