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1St Source Executive Compensation (FY25)

SRCE · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): April 24, 2026
140 figures on this page: 136 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Andrea Short was paid $2,190,564 in total compensation as President and Chief Executive Officer, 1st Source Corporation and Chief Executive Officer, 1st Source Bank for fiscal 2025, and Short's total was 106.9% higher than the $1,058,557 reported for fiscal 2024. Shareholders supported the say-on-pay proposal with 96.5% of votes cast for or against in favor at the meeting held April 23, 2026 for fiscal 2025. The disclosed peer group names BancFirst Corporation, CNB Financial Corporation, Cullen/Frost Bankers, Inc, First Mid Bancshares, Inc. and Hancock Whitney Corporation, among others, and the Midwest Peers names Byline Bancorp, Inc., Community Trust Bancorp, Inc, Enterprise Financial Group, First Busey Corporation and First Commonwealth Financial Corp, among others.
Chief executive, fiscal 2025
◇
Andrea Short
Latest say-on-pay support
=
April 23, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Andrea Short: $1,058,557 → $2,190,564 (106.9% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is 1St Source's chief executive and what were they paid?
Andrea Short was paid $2,190,564 in total compensation as President and Chief Executive Officer, 1st Source Corporation and Chief Executive Officer, 1st Source Bank for fiscal 2025. Short's total was 106.9% higher than the $1,058,557 reported for fiscal 2024.
What was 1St Source's say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.5% of votes cast for or against in favor at the meeting held April 23, 2026 for fiscal 2025.
Which companies are in 1St Source's peer group?
The disclosed peer group names BancFirst Corporation, CNB Financial Corporation, Cullen/Frost Bankers, Inc, First Mid Bancshares, Inc. and Hancock Whitney Corporation, among others. The Midwest Peers names Byline Bancorp, Inc., Community Trust Bancorp, Inc, Enterprise Financial Group, First Busey Corporation and First Commonwealth Financial Corp, among others.
What is 1St Source's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 31.4:1, against median employee compensation of $69,754.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Murphy III
Executive Chairman, 1st Source Corporation and 1st Source Bank
◇—◇—◇—◇◇
Andrea Short
President and Chief Executive Officer, 1st Source Corporation and Chief Executive Officer, 1st Source Bank
◇—◇—◇—◇◇
Jeffrey Buhr
Executive Vice President and Chief Credit Officer, 1st Source Bank
◇—◇—◇—◇◇
Brett Bauer
Executive Vice President, Treasurer and Chief Financial Officer, 1st Source Corporation and 1st Source Bank
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Murphy III
Chairman of the Board and Chief Executive Officer
◇—◇—◇—◇◇
Andrea Short
President, 1st Source Corporation and President and Chief Executive Officer, 1st Source Bank
◇—◇—◇—◇◇
John Griffith
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
◇—◇—◇—◇◇
Jeffrey Buhr
Executive Vice President and Chief Credit Officer, 1st Source Bank
◇—◇—◇—◇◇
Brett Bauer
Senior Vice President, Treasurer and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Murphy III
Executive Chairman, 1st Source Corporation and 1st Source Bank
◇—◇—◇—◇◇
Andrea Short
President and Chief Executive Officer, 1st Source Corporation and Chief Executive Officer, 1st Source Bank
◇—◇—◇—◇◇
Kevin Murphy
Executive Vice President, 1st Source Corporation and President, 1st Source Bank
◇—◇—◇—◇◇
Brett Bauer
Executive Vice President, Treasurer and Chief Financial Officer, 1st Source Corporation and 1st Source Bank
◇—◇—◇—◇◇
Jeffrey Buhr
Executive Vice President and Chief Credit Officer, 1st Source Bank
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andrea G. ShortOPTION———◇—◇◇
Brett A. BauerOPTION———◇—◇◇
Kevin C. MurphyOPTION———◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Jeffrey BuhrRSU◇◇——
Christopher MurphyRSU◇◇——
Brett BauerRSU◇◇——
Andrea ShortRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Timothy K. Ozark
◇◇————◇
Melody Birmingham
◇◇————◇
Daniel B. Fitzpatrick
Lead independent director
◇◇————◇
Ronda Shrewsbury
◇◇————◇
John F. Affleck-Graves
◇◇————◇
Isaac P. Torres
◇◇————◇
Todd F. Schurz
◇◇————◇
Tracy D. Graham
◇◇————◇
Christopher J. Murphy IV
◇◇————◇
Mark D. Schwabero
◇◇————◇
Andrea G. Short and Christopher J. Murphy III served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Audit committee chair◇
Audit committee member◇
Compensation committee member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • BancFirst Corporation BANF
  • CNB Financial Corporation CCNE
  • Cullen/Frost Bankers, Inc CFR
  • First Mid Bancshares, Inc. FMBH
  • Hancock Whitney Corporation HWC
  • Mercantile Bank Corporation MBWM
  • National Bank Holdings Corporation NBHC
  • Old Second Bancorp, Inc. OSBC
  • Pinnacle Financial Partners PNFP
  • S&T Bancorp STBA
  • Stock Yards Bancorp SYBT
  • Texas Capital Bancshares, Inc TCBI
  • UMB Financial Corporation UMBF
  • Univest Corporation of Pennsylvania UVSP
  • Western Alliance Bancorporation WAL
  • Wintrust Financial Corporation WTFC
Midwest Peers
  • Byline Bancorp, Inc. BY
  • Community Trust Bancorp, Inc CTBI
  • Enterprise Financial Group EFSC
  • First Busey Corporation BUSE
  • First Commonwealth Financial Corp FCF
  • First Financial Bancorp FFBC
  • First Financial Corporation THFF
  • First Merchants Corporation FRME
  • German American Bancorp, Inc GABC
  • Lakeland Financial Corporation LKFN
  • MidWest One Financial Group, Inc. symbol not shown
  • Nicolet Bankshares, Inc. NIC
  • Park National Corporation PRK
  • Republic Bancorp, Inc RBCAA
  • W.T.B. Financial Corporation WTBFB

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 23, 2026=◇◇◇
2022April 20, 2023=◇◇◇
2019April 23, 2020=◇◇◇
2016April 20, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact 1St Source disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where 1St Source sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Whether 1St Source's disclosed peer group is defensible, who names 1St Source back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
140 figures on this page: 136 cited to the filing that reported them, 4 calculated from figures it prints.
136 cited to the filing
4 calculated from the filing

Documents cited

  1. 0000034782-26-000034
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000034782-26-000021
    2025 Grants Of Plan-Based Awards · Grants of Plan-Based Awards · OTHER INCUMBENT DIRECTORS · ROA. DIRECTOR COMPENSATION & · and 1 more section
  3. 0000034782-25-000038
    SUMMARY COMPENSATION TABLE
  4. 0000034782-24-000047
    SUMMARY COMPENSATION TABLE
  5. 0000034782-23-000071
  6. 0000034782-20-000069
  7. 0000034782-17-000048
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Velarion, “1St Source executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/SRCE (accessed 2026).
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers 1St Source discloses

The companies named in SRCE's own disclosed peer group.

BancFirst CorporationCNB Financial CorporationCullen/Frost Bankers, IncFirst Mid Bancshares, Inc.Hancock Whitney CorporationMercantile Bank CorporationNational Bank Holdings CorporationOld Second Bancorp, Inc.Pinnacle Financial PartnersS&T BancorpStock Yards BancorpTexas Capital Bancshares, IncUMB Financial CorporationUnivest Corporation of PennsylvaniaWestern Alliance BancorporationWintrust Financial CorporationByline Bancorp, Inc.Community Trust Bancorp, IncEnterprise Financial GroupFirst Busey CorporationFirst Commonwealth Financial CorpFirst Financial BancorpFirst Financial CorporationFirst Merchants Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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