Profile: MainSource Financial Group Inc (MSFG.OQ)
9 Dec 2016
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. 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. The Company operates approximately 80 branch banking offices in Indiana, Illinois, Ohio and Kentucky.
The Bank offers various loans, such as commercial loans, commercial real estate loans, residential loans and consumer loans. 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. The Bank generates residential mortgages for its own portfolio. The Bank's total loans amount to approximately $2.15 billion.
The Bank's investment securities portfolio consists of state and municipal bonds; the United States Government sponsored entities' mortgage-backed securities and collateralized mortgage obligations, and corporate securities. The Bank has classified its entire investment portfolio as available for sale. Its total investment securities available-for-sale amount to approximately $0.92 billion.
Sources of Funds
The primary sources of funds for the Bank include deposits generated in local market areas. The Bank markets various programs for demand, savings and time deposit accounts. These programs include interest and non-interest bearing demand and individual retirement accounts. Its total deposits amount to approximately $2.65 billion.
The Bank's 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, it provides services incidental to the business of banking.
MainSource Financial Group Inc
201 N Broadway
PO Box 87
GREENSBURG IN 47240