RankingBanking 25 - Flipbook - Page 16
14
Tangible Book Value Per Common Share
Source: 1st Source Corp.
$50
$43.87
$41.89
$40
$37.06
$33.64
$31.63
$31.62
$29.18
$30
$26.30
$20
2018
2019
2020
2021
2022
2023
2024
Q1 2025
[the specialty finance businesses], we keep the in-
pretty much seen it all in running the bank over
vestment portfolio a little shorter than most other
the decades, and he wants to make sure they have
banks and monitor that market risk.”
more than ample reserves to weather any partic-
Beyond bolstering risk management, Murphy
ular downturn.”
also believes maintaining high capital levels is the
Murphy’s down-to-earth style and willingness
best defense against regulators forcing him to do
to occasionally defy industry conventions lie at
something he doesn’t want to do. “You don’t want
the heart of 1st Source’s success and play well in
regulators telling you how to run the business. They
South Bend, home to his alma mater, the Univer-
will have you do things that are just the opposite
sity of Notre Dame. The CEO is well-connected
of what you need to do to help companies having
in the community and was a lead donor for the
problems,” he says. “The key is to have enough
construction of the Raclin Murphy Museum of Art,
capital that regulators will leave you alone.”
which opened on the Notre Dame campus in 2023.
Inside the company, Murphy is humble and
“The Monument”
leads by example. Second Curve Capital’s Brown,
It’s all part of a culture that is at once inno-
who has known Murphy for more than 15 years,
vative, conservative and confident in its own way
tells the story of when the CEO fell for a phish-
of doing things. Murphy “is probably one of the
ing scam set up by the bank’s security team and
most conservative CEOs out there in terms of
wound up attending a special training session with
how he thinks about the world from a worst-case
other employees. “As successful as Chris has been,
scenario perspective,” Race says. “Chris has
and as long as he’s been CEO, he didn’t say, ‘I’m
