1st Source Bank Recently Experienced A Data Security Incident That Involved Some Of Its Clients' Data Including Certain Personal And Protected Health Information Belonging To South Bend Emergency Physicians
Portfolio Pulse from Benzinga Newsdesk
1st Source Bank experienced a data security incident on its MOVEit server, affecting personal and protected health information of South Bend Emergency Physicians' clients. The incident was isolated and did not impact 1st Source Bank's client networks or systems. Notifications and assistance are being provided to potentially affected individuals.
November 20, 2023 | 11:13 am
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NEGATIVE IMPACT
1st Source Bank's data breach may raise concerns among clients and investors, potentially affecting trust and the bank's reputation.
Data breaches typically result in negative sentiment among consumers and investors due to concerns over privacy and security. While the breach was contained, the involvement of personal and health information could lead to regulatory scrutiny and potential financial liabilities. The short-term impact on SRCE's stock price is likely negative as the market reacts to the breach.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80