1st Source Reviews

Updated July 27, 2015
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3.3
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1st Source Chairman, President, and CEO; Chairman and CEO, 1st Source Bank Chris Murphy III
Chris Murphy III
6 Ratings

18 Employee Reviews

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  1. Decent place

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at 1st Source full-time

    Positive Outlook
    Positive Outlook

    Pros

    The benefits are nice with good 401k matching, decent health insurance, and PTO.

    Cons

    Typical big-company problems - even for a not-so-big company. Their review system encourages mediocrity.


  2. Previous Employee

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Collections in Colorado Springs, CO
    Former Employee - Collections in Colorado Springs, CO

    I worked at 1st Source full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Need a job asap and their hiring process is simple.

    Cons

    Will not let employees move up when they excel due to tenure. You can work extra and out preform everyone and others will be advanced regardless of their skills.


  3. CSR

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at 1st Source

    Pros

    Very easy position as a CSR which is really a teller. The customers were great 99% of the time.

    Cons

    The Manager at the location I worked at was horrible to the point where customers avoided her at all cost.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Client Service Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service Representative in Hebron, IN
    Former Employee - Client Service Representative in Hebron, IN

    I worked at 1st Source full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    1st Source had some pros. They provided great training to incoming CSRs which allowed them to excel in the workplace. They also hire from within, and you are able to apply to new positions after you are at your current position for 1 year.

    Cons

    They had expensive benefit packages, which made it nearly impossible to purchase. Required to work long hours. Very behind in technology.

    Advice to Management

    Update your technology to match the surrounding area's banks. Spend more money on marketing to get word out about you. Don't get stuck in the rut of being a second-tier bank.


  6. well, at least the benefits are decent.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at 1st Source

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    The insurance and health care benefits are very well structured, as our insurance provider is accepted by most doctors in the area around all our locations. There's also a good short term disability program which pays a percentage of one's salary during extended absences up to six weeks (great for new mothers or those with surgical needs). The environment is supportive of those with long term illnesses such as cancer or physical disabilities.

    Cons

    There are limited opportunities for advancement if one does not start out working in the banking centers. One can easily rise up the ranks to management in a short period of time in the banking centers, but if you're in the support side of things, even lateral moves are a challenge.


  7. Great Bank!

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at 1st Source

    Pros

    Really enjoyed working for 1st Source. Working in the branch can be stressful as you are working closely with people and their money. I was proud to work for a bank that I believed was out to help people, not nickel and dime them for fees. The majority of customers we interacted with were pleasant to work with because they felt the same way.

    Cons

    There were no cons but Glassdoor is forcing me to enter something in this section in order to submit my review.

    Advice to Management

    None, but Glassdoor is forcing me to enter something in this section in order to submit my review.


  8. Learned a lot of useful information and skills with customer service.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Hebron, IN
    Former Employee - Customer Service Representative in Hebron, IN

    I worked at 1st Source full-time (Less than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Great customer base. Good cultural feel. The communication from staff to manager is quick and effective. Atmosphere in workplace is relaxed amount coworkers.

    Cons

    Top level is hard to communicate to if you are the one who is interacting with customers. Systems tend to go out randomly.

    Advice to Management

    Listen to your bottom line, CSRs, and take the advice they may have. They are the ones who know the customers best.


  9. Good People, Needs Improvement on Everything Else

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at 1st Source full-time (More than 5 years)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Work-life balance is good, standard banking hours and major holidays off, so long as you're not at an extended hours branch/in-store branch. 401k match and health insurance provided at full-time. Many great people throughout the organization trying to advance it and really do care about their customers. Very efficient teller training program, when you complete it you feel knowledgeable about what you are doing. If you're in the South Bend area very well known which helps a lot in some situations. When it comes to come other areas, especially the Valpo region you'll find that you are constantly describing it as the bank with the orange sign. Do donate to a lot of organizations in the community though there isn't any initiatives for actual volunteer work.

    Cons

    Pay is sub-standard compared to typical banks. Tellers make more on average just about anywhere else. Upper management is completely out of touch with their employee base. There is no such think as confidentiality, I frequently was told professional/personal information about fellow co-workers, some of whom I had never even met and frankly it was not any of my business. Poor/negative leadership in certain areas, especially the Valpo region from the top down, which results in high turnover. A huge emphasis on sales that are based off of previous years and don't take into account changing markets/typical rise and fall of business (loans/accounts typically fall off in the colder months). Constantly feel forced to push products on people that are not in their best interests. Undecided target market and poor account options for students, but an application, which turns out to be less than reliable and doesn't have the basic functions of most banking apps. In general a lack of apathy towards any type of technological advance will frustrate you and your customers. The marketing department has somehow managed to supersede the position of the Consumer Banking VP and ends up making decisions that are in no one's best interests and communicated poorly throughout the bank.

    Advice to Management

    The amount of responsibility tellers have is worthy of higher pay than one could make at a fast food employer. They are handling thousands and thousands of dollars at a time and are not respected for everything they have to know. Accept that banking technology is the future and get on board because the amount of customers I saw walk away because of this was insane. I myself still kept my account at another financial institution because I found it more convenient and easy to use. Take a second look at some of your management and what is happening on the ground level outside of South Bend, In regions farther away that don't take scrutiny like South Bend, managers run amok and behave in a way that I never found in the Central region. Degrading of employees and clients, lack of confidentially, and lack of communication to name a few.


  10. Descent place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at 1st Source full-time (More than 10 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    work with some good people; friendly and easy working environment; flexibility with work and life balance though depending the manager; big on community service

    Cons

    poor benefit, low pay, lack of standard and consistency in giving out "Titles" (officer / AVP / VP) for people working at the customer front vs. backroom support

    Advice to Management

    consolidate departments that perform the same function and eliminate the middle-management if you are serious about lean management


  11. ... not what I expected

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service Representative in Valparaiso, IN
    Former Employee - Client Service Representative in Valparaiso, IN

    I worked at 1st Source part-time (Less than a year)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Pros: You have the option to opt in for a matched 401k, but you will only ever see the money if you work there a certain amount of time - I believe 5 years? They are a small but growing company and do a great job of making you feeling excited to work for the company & like the company cares about you.

    Cons

    Cons: Uninteresting, ridiculous amount of cattiness at work, almost impossible to achieve their incredibly high account opening referrals each month, practically zero compensation for a referral becoming an account - there are about .... 3? impossible to refer accounts that pay maybe 5$ if you manage to get someone to open one. The compensation is laughable for a college grad.... for all the crazy training they make you do & for how sloooowwww (sometimes) or "i'm going insane we are so busy" stressful times - you should practically just get a job at mcdonalds instead. Please don't ever think being a bank teller/personal banker/CSR... whatever fancy word they want to call it - is remotely glamorous, fun, or professional.

    Advice to Management

    Care more about your employees and less about expanding. Do something - ANYTHING!! to get rid of the problematic branch managers who could care less about their jobs and play favorites ..... begin to FAIRLY compensate those who do work hard and work with integrity, break up the "impenetrable" climate of cattiness at 90% of the branches, and for goodness sake get rid of the idea that ANY CSR or little peon is going anywhere in the company - the glass ceiling becomes very evident shortly after you start working there.



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