10/31/12 1st Source Bank has announced that it will donate $195,000 to support entrepreneurship and venture development in northern Indiana. The donation to Elevate Ventures, an Indiana venture development organization, will help the organization provide rigorous business analysis and robust advisor services to area entrepreneurs and early-stage companies.
1st Source has targeted $95,000 of its contribution to efforts in Elkhart, Kosciusko, Marshall and St. Joseph Counties. The bank’s contribution to Elevate Ventures will be matched by a total of $3 million in investments from the Indiana Economic Development Corporation and other area businesses and institutions.
“1st Source is pleased to make this investment to help local entrepreneurs build and expand their businesses, and strengthen our regional economy,” said Christopher J. Murphy III, 1st Source Chairman and CEO. “We look forward to seeing the full impact of this initiative for years to come.”
1st Source has made several other recent contributions to local entrepreneurial efforts including Innovation Park at Notre Dame, the St. Mary’s College Women’s Entrepreneurship Initiative, Niles Main Street’s Entrepreneurial & Culinary Incubator and the implementation of the University of Notre Dame’s 1st Source Commercialization Award which recognizes research that makes it to the marketplace.
1st Source Corporation, parent company of 1st Source Bank, has assets of $4.49 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 75 banking centers in 17 counties, 23 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and nine 1st Source Insurance offices.
1st Source common stock is traded on the NASDAQ Global Select Market under “SRCE” and appears in the National Market System tables in many daily newspapers under the code name “1st Src.” Since 1863, 1st Source has been committed to the success of the communities it serves. For more information, visit www.1stsource.com.