Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › 1st Source
1st Source 401(k)
- SRCE Nasdaq
- Management of companies and enterprises
- South Bend, IN
- EIN 35-1068133
- 1 plan with Schedule H financials
- Plan year 2024
- 1st Source Corporation
- filed as 1ST Source Corporation
- SEC registrant 1ST Source Corp
Administrative expenses excluding investment management, per participant · 1ST Source Corporation Employee Stock Ownership and Profit Sharing Plan · plan year 2024
$118.75
Higher than 84% of the 2,324 plans $250M to 1B that report it.
Source
= $174,083 / 1,466
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250725055113NAL0002966163001, received 2025-07-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250725055113NAL0002966163001, received 2025-07-25
Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-25.
Cost and contributions
Administrative expenses per participant
$118.75
Higher than 70% of the 2,405 plans $250M to 1B that report it.
Source
= $174,083 / 1,466
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250725055113NAL0002966163001, received 2025-07-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250725055113NAL0002966163001, received 2025-07-25
Administrative expenses as a share of assets
0.065%
Higher than 45% of the 2,407 plans $250M to 1B that report it.
Source
= $174,083 / $267,994,889
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250725055113NAL0002966163001, received 2025-07-25
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250725055113NAL0002966163001, received 2025-07-25
Employer contributions per participant
$3,622
Higher than 59% of the 2,457 plans $250M to 1B that report it.
Source
= $5,310,150 / 1,466
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250725055113NAL0002966163001, received 2025-07-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250725055113NAL0002966163001, received 2025-07-25
Employer share of total contributions
35.9%
Higher than 65% of the 2,459 plans $250M to 1B that report it.
Source
= $5,310,150 / $14,797,614
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250725055113NAL0002966163001, received 2025-07-25
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250725055113NAL0002966163001, received 2025-07-25
Plan terms, as stated in 1st Source Corporation's SEC filings
Employer match
“The first 4% of a participant’s eligible compensation contributed to the Plan is matched 100%, and the next 2% of a participant’s eligible compensation contributed to the Plan is matched 50%.”
Form 11-K filed 2026-06-25, for the year ended 2025-12-31 · plan description note, contributions · source document
Vesting
“Vesting of the 1st Source Employer Contributions, including match, fixed profit sharing, discretionary profit sharing, and regular contributions, is based on years of credited service.”
Form 11-K filed 2026-06-25, for the year ended 2025-12-31 · plan description note, vesting · source document
Automatic enrollment
“Eligible participants are automatically enrolled in the Plan once they have completed 90 consecutive days of service unless they affirmatively decline to participate.”
Form 11-K filed 2026-06-25, for the year ended 2025-12-31 · plan description note, general · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2E profit-sharing · 2H partially participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2O ESOP-related feature · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250725055113NAL0002966163001, received 2025-07-25
Full record, 1ST Source Corporation Employee Stock Ownership and Profit Sharing Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | 1ST SOURCE CORPORATION | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Plan name | 1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Sponsor EIN / plan number | 35-1068133 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Sponsor location | SOUTH BEND, IN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Industry (business code) | 551111, Management of companies and enterprises | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Filing received | 2025-07-25 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Participants, beginning of year | 1,460 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Active participants | 1,196 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Participants, end of year | 1,476 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Participants with an account balance | 1,466 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total assets, beginning of year | $237,470,064 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total assets, end of year | $267,994,889 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Net assets, end of year | $267,761,774 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total income | $48,254,479 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Net income | $30,291,710 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Employer contributions | $5,310,150 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Participant contributions | $7,380,668 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Other contributions (incl. rollovers) | $880,031 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total contributions | $14,797,614 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Benefit payments | $17,788,686 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total expenses (incl. benefit payments) | $17,962,769 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Total administrative expenses | $174,083 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Contract administrator fees | $153,262 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| IQPA audit fees | $20,250 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Administrative expenses excluding investment management | $174,083 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Held in mutual funds | $211,497,190 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250725055113NAL0002966163001, received 2025-07-25 |
| Independent auditor | FORVIS MAZARS, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250725055113NAL0002966163001, received 2025-07-25 |
Position = column in the DOL layout for form year 2024. Filing 20250725055113NAL0002966163001, received 2025-07-25.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| FUTUREPLAN BY ASCENSUSrecordkeeper | TPA | 64 Recordkeeping fees | $143,333 | no |
| FORVIS | AUDITOR | 10 Accounting (including auditing) | $20,250 | no |
| MIDWEST SERIES OF LOCKTON COMPANIES | CONSULTANT | 49 Other services | $10,500 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250725055113NAL0002966163001, received 2025-07-25.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $237,470,064 | $267,994,889 | 12.9% |
| Participants with a balance | 1,431 | 1,466 | 2.4% |
| Administrative expenses | $181,595 | $174,083 | -4.1% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $5,599,301 | $5,310,150 | -5.2% |
Prior filing 20240722074856NAL0015923040001, received 2024-07-22; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: 1ST SOURCE CORPORATION; SEC registrant: 1ST SOURCE CORP (CIK 34782, matched by EIN; display name from the Form 11-K cover).