Ronda Shrewsbury
About Ronda Shrewsbury
Ronda Shrewsbury, 59, has served on the Board of 1st Source Corporation (SRCE) since 2021. She is President and CEO of RealAmerica, LLC with over 33 years in real estate development, and holds a B.S. in Finance/Real Estate from Indiana University’s School of Business; she qualifies as an audit committee financial expert under SEC guidelines . She is an independent director per SRCE’s Corporate Governance Guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RealAmerica, LLC | President & CEO (primary owner/founder) | ~30 years | Strategic direction for four WBE-certified, vertically integrated companies; expertise in development, design, construction, property management |
| Young Presidents’ Organization (YPO) | Chapter Chair (IN, IL); Central U.S. Regional Board; International Forum Committee | Various (past service) | Multiple leadership roles supporting executive peer networks and governance engagement |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Legacy25 (non-profit) | Founder | Current | Provides support/services for affordable housing communities |
| Indianapolis Zoo | Immediate Past Chair, Board | Current | Philanthropic governance in community institution |
| Indiana Affordable Housing Council | Past President; Chair, Governmental Affairs Committee | Past | Industry advocacy in affordable housing |
| Near North Development Corporation | Board member (past) | Past | Community development governance |
Board Governance
- Independence: Board determined Shrewsbury is independent under NASDAQ rules and SRCE guidelines .
- Committee memberships:
- Audit, Finance & Risk Committee (member; 6 meetings in 2024)
- Executive Compensation & Human Resources Committee (member; 4 meetings in 2024)
- Loan & Funds Management Committee (Chair; 12 meetings in 2024)
- Attendance: Board held 6 meetings in 2024; no incumbent director attended fewer than 75% of aggregate Board and committee meetings; Shrewsbury attended the 2024 Annual Meeting (all except Mr. Affleck‑Graves attended) .
- Lead Independent Director: Daniel B. Fitzpatrick; executive sessions of independent directors occurred at each Board meeting in 2024 .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit, Finance & Risk | Member | 6 |
| Executive Compensation & HR | Member | 4 |
| Loan & Funds Management (Bank committee) | Chair | 12 |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Annual Board Member Retainer | $72,620 (increased from $70,565 effective May 1, 2024) |
| Board meeting fee (per meeting attended) | $3,000 |
| Audit, Finance & Risk Committee meeting fee | $3,000 per meeting |
| Other Board committee meeting fee | $2,500 per meeting |
| Committee Chair Fees | Governance & Nominating $20,000; Audit, Finance & Risk $15,000; Executive Compensation & HR $15,000; Loan & Funds Management $10,000; Trust & Investment $10,000; Executive Committee $0 |
Notes:
- As Chair of the Loan & Funds Management Committee, Shrewsbury is eligible for the $10,000 chair retainer .
Performance Compensation
| Item | Disclosure |
|---|---|
| Director equity awards (RSUs/Options) | None disclosed for directors in 2025 proxy; director compensation consists of cash retainers and meeting fees |
| Performance-tied director metrics | None disclosed/applicable |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None disclosed |
| Notable external boards (non-profit/community) | Legacy25 (founder), Indianapolis Zoo (Immediate Past Chair), Indiana Affordable Housing Council (Past President/Chair), Near North Development Corporation (board) |
| Interlocks/potential conflicts | No specific related-party transactions involving Shrewsbury disclosed; ordinary-course banking transactions with directors/officers noted generally; Aunalytics relationships involve other directors (Murphy III, Affleck‑Graves, Graham) |
Expertise & Qualifications
- Extensive real estate development, design, construction, and management expertise across affordable, market-rate, senior living, and self-storage properties; tax credit financing (LIHTC, historic), HUD and other financing products .
- Audit committee financial expert qualification under SEC guidelines .
- Active Indiana Principal Broker License .
- B.S. Finance/Real Estate, Indiana University School of Business .
Equity Ownership
| Metric | Amount |
|---|---|
| Common shares beneficially owned | 10,378 |
| Shares outstanding (record date) | 25,285,937 |
| Ownership as % of shares outstanding | ~0.041% (10,378 ÷ 25,285,937) |
| Pledged shares | No pledging disclosed; policy restricts pledging/hedging for directors/NEOs, with limited collateral use only for shares exceeding ownership guidelines and requiring prior approval |
| Vested vs. unvested | Not disclosed for directors (no director equity awards disclosed) |
Insider Trades
| Date | Form | Summary | Source |
|---|---|---|---|
| 02/05/2024 | Form 4 | Statement of changes in beneficial ownership | |
| 08/05/2024 | Form 4 | Statement of changes in beneficial ownership | |
| 08/06/2025 | Form 4 | Statement of changes in beneficial ownership (PDF) |
Governance Assessment
- Strengths: Independent director with audit financial expert designation; active across three key committees, including chairing a lending oversight committee; strong meeting attendance; alignment via personal share ownership; cash-focused director pay minimizes equity-related conflicts .
- Oversight quality signals: Lead Independent Director structure with executive sessions at each Board meeting in 2024; robust committee cadence (A&F&R 6x; Comp 4x; Loan 12x) supports risk oversight and compensation governance .
- Conflicts/related-party exposure: No Shrewsbury-specific related-party transactions disclosed; ordinary-course banking relationships for directors/officers are subject to stringent Board-approved lending policies; Aunalytics related-party transactions involve other directors, not Shrewsbury .
- Attendance & engagement: Met SRCE’s attendance expectations (≥75% across Board/committees) and attended the 2024 Annual Meeting, signaling engagement .
- RED FLAGS: None disclosed regarding hedging/pledging, legal proceedings, option repricing, or say‑on‑pay issues tied to Shrewsbury; Company say‑on‑pay received 89% approval in 2023 (triennial vote cadence), indicating broader investor support for compensation governance .