The actor and wife Samantha Bryant welcomed daughter Olivia Jane on Tuesday
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Colin Hanks and Samantha Bryant
Credit: Brian Zak/Sipa

Baby makes three for Colin Hanks and wife Samantha Bryant.

The couple welcomed daughter Olivia Jane Hanks on Tuesday, Feb. 1 in Los Angeles, PEOPLE has confirmed.

This is the couple’s first child and is also the first grandchild for Colin’s father, actor Tom Hanks.

“The family is home and everyone’s happy and healthy,” says a source close to the actor.

Hanks, 33, and Bryant met through mutual friends and were engaged in June 2009 before marrying less than a year later in May 2010.