Profile: MainSource Financial Group Inc (MSFG.DF)


5 Oct 2015
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$1.14 (+5.65%)
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MainSource Financial Group, Inc., incorporated on March 30, 1983, is a bank holding company. The Company operates a banking subsidiary: MainSource Bank (the Bank), an Indiana state-chartered bank. As of December 31, 2014, the Company operated 80 branch banking offices in Indiana, Illinois, Ohio and Kentucky. Through the Bank, the Company offers a range of financial services, including accepting time and transaction deposits; making consumer, commercial, agribusiness and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services, and providing other corporate services, such as letters of credit and repurchase agreements.

Lending Activities

The lending activities of the Banks are separated into categories, such as commercial, commercial real estate, residential and consumer. Commercial loans include secured and unsecured loans, including real estate loans, to individuals and companies and to governmental units within the market area of the Bank. Agricultural loans are generated in the Bank's markets. Most of the loans are real estate loans on farm properties. Loans are also made for agricultural production and such loans are reviewed annually. The Bank generates residential mortgages for its own portfolio. The total amount of loans outstanding as of December 31, 2014 is approximately $1.95 million.

Investment Activities

The Company's investment securities portfolio primarily consists of state and municipal bonds; the United States government sponsored entity's mortgage-backed securities and collateralized mortgage obligations, and corporate securities. The Company has classified its entire investment portfolio as available for sale. Funds invested in the investment portfolio generally represent funds not immediately required to meet loan demand. Income related to the Company's investment portfolio accounted for 16.6% of total revenues in 2014. The total amount of securities available for sale as of December 31, 2014 is approximately $0.86 million.

Sources of Funds

The primary sources of funds for the Bank include deposits generated in local market areas. The Banks market various programs for demand, savings and time deposit accounts. These programs include interest and non-interest bearing demand and individual retirement accounts. As of December 31, 2014, the Company had consolidated deposits of approximately $2.46 million. Repurchase agreements and Federal Home Loan Bank (FHLB) are the other sources of funding.

Subsidiary Activities

Non-banking subsidiaries include MainSource Insurance, LLC, Insurance Services Marketing, LLC, MainSource Title, LLC, MainSource Risk Management, Inc. and New American Real Estate, LLC. Through its non-bank affiliates, the Company provides services incidental to the business of banking.

Company Address

MainSource Financial Group Inc

201 N Broadway
PO Box 87
P: +1812.6630157
F: +1812.6633220

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