1st Source Corp Announces Executive Succession Plan, Christopher J. Murphy III Steps Down.

1st Source Corporation announced an executive succession plan. Christopher J. Murphy III will step down as CEO and become Executive Chairman effective October 1. Andrea Short will become CEO and President of the corporation and retain her title as CEO of the bank. Kevin Murphy will become President of 1st Source Bank.

1st Source Corporation (NASDAQ: SRCE) has announced a significant leadership transition effective October 1, 2025. After 50 years in various leadership roles, Christopher J. Murphy III will step down as CEO to become Executive Chairman. Andrea Short, the current President of 1st Source Corporation and CEO of 1st Source Bank, will assume the role of CEO and President of the corporation while retaining her position as CEO of the bank. Kevin Murphy, currently Chief Digital Officer and Executive Vice President, will become President of 1st Source Bank [1].

This succession plan is part of a long-term, multi-year strategy designed to ensure the company's future success and continuity. The announcement underscores the corporation's commitment to maintaining stability while positioning for future growth under leadership familiar with the company's values [2].

Andrea Short has distinguished herself as a strong leader with a deep understanding of the financial and operational dynamics that drive long-term success. Her career at 1st Source spans nearly three decades, during which she has held various roles and demonstrated significant capabilities in managing day-to-day operations and achieving positive long-term performance for stakeholders [1].

Kevin Murphy, who will become President of 1st Source Bank, brings extensive experience in IT, community banking, and the digital space. His varied experiences and education, including a degree from Notre Dame's Executive MBA program, make him well-prepared for the role [1].

Christopher Murphy, who will continue as Executive Chairman, will provide strategic oversight and guidance to the new leadership team. This transition is designed to ensure the corporation's continuing success and growth, with a dedicated team ready to lead the company into the future [1].

1st Source Corporation, with assets of $9.1 billion, operates 78 banking centers and various specialty finance, trust, and insurance locations. The corporation's mission is to help clients achieve security, build wealth, and realize their dreams, a commitment that will continue under the new leadership [1].

References:
[1] https://finance.yahoo.com/news/1st-source-corporation-announces-executive-214600765.html
[2] https://www.stocktitan.net/news/SRCE/1st-source-corporation-announces-executive-succession-gw2fg3gucfrc.html