1st Source Corp Names Executive

MIDWEST

1st Source Corp., South Bend, Ind., promoted president Christopher J. Murphy 3d to chairman of the company and its 1st Source Bank, succeeding Ernestine M. Raclin, who retired.

Mr. Murphy remains CEO.

The company also elected Wellington D. Jones 3d to its board and named him president of 1st Source Bank, where he succeeds Mr. Murphy and will continue as head of personal and small-business banking.

Mr. Murphy was elected a bank director in 1972. In 1976 he was hired from Citicorp Management Services Corp. to be an officer of the company. At Citicorp he had been an assistant to the president of Nationwide Finance Co. and Citibank's manager of insurance and liability products. He was promoted to president and chief executive officer of the bank in 1977 and was given the same titles at the holding company two years later.

Mr. Jones joined 1st Source Bank in 1976 as vice president of data processing. He had come from IBM Corp. where he was a marketing representative. At the bank, he was named vice president of personal banking in 1979 and was promoted to senior vice president of the personal and small-business banking group in 1981 and to executive vice president of the company and bank in 1988.

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