Magnetoacoustic tomography with magnetic induction (MAT-MI) is a technique proposed to reconstruct the conductivity distribution in biological tissue at ultrasound imaging resolution. A magnetic pulse is used to generate eddy currents in the object, which in the presence of a static magnetic field induces Lorentz force based acoustic waves in the medium. This time resolved acoustic waves are collected with ultrasound transducers and, in the present work, these are used to reconstruct the current source which gives rise to the MAT-MI acoustic signal using vector imaging point spread functions. The reconstructed source is then used to estimate the conductivity distribution of the object. Computer simulations and phantom experiments are performed to demonstrate conductivity reconstruction through vector source imaging in a circular scanning geometry with a limited bandwidth finite size piston transducer. The results demonstrate that the MAT-MI approach is capable of conductivity reconstruction in a physical setting.