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STHN MICH BANCORP INC (SOMC) maintains this dedicated news hub for stakeholders seeking official updates from Michigan's trusted community banking institution. As an FDIC-insured provider since 1872, we deliver timely information about financial performance, operational developments, and community partnerships.
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Southern Michigan Bancorp (OTC Pink: SOMC) reported Q3 2025 net income of $3.02M ($0.65 per share), up 16.7% versus Q3 2024. For the nine months ended Sept 30, 2025, net income was $9.303M ($2.01 per share), a 20.0% increase year-over-year. Total assets rose to $1.665B from $1.497B at Dec 31, 2024, while loans net of ACL were $1.214B and total deposits were $1.395B at Sept 30, 2025.
Key ratios: annualized ROA (nine months) 0.79%, annualized ROE 11.00%, and tax-equivalent net interest margin 3.21% (nine months). Allowance for credit losses was $14.41M (1.17% of loans); non-performing loans were 1.03% of loans at Sept 30, 2025. The company operates 18 offices across six counties.
Southern Michigan Bancorp (OTC Pink: SOMC) has declared a quarterly cash dividend of $0.16 per share to be paid on October 17, 2025, to shareholders of record as of October 6, 2025. The annualized dividend of $0.64 per share represents a 2.56% yield based on the current market price of $24.99 per share.
The company operates as a bank holding company through Southern Michigan Bank & Trust, with 18 offices across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, providing consumer, business, and wealth management services.
Southern Michigan Bancorp (OTC Pink: SOMC) reported strong Q2 2025 financial results, with net income reaching $3.24 million ($0.70 per share), marking a significant 30.14% increase from Q2 2024's $2.49 million. For H1 2025, the company achieved $6.28 million in net income ($1.36 per share), up 21.64% year-over-year.
Key performance metrics showed improvement, with H1 2025 return on average assets at 0.81% (up from 0.71%) and return on average equity at 11.31% (up from 10.34%). The tax equivalent net interest margin expanded to 3.20% from 2.94%. Credit quality remained robust with non-performing loans at just 0.01% of total loans, and the allowance for credit losses stood at 1.11% of total loans.
Southern Michigan Bancorp (OTC Pink: SOMC) has declared a quarterly cash dividend of $0.16 per share, payable on July 18, 2025, to shareholders of record July 7, 2025. The annualized dividend of $0.64 per share represents a 3.08% yield based on the current market price of $20.75 per share.
Southern Michigan Bancorp operates as a bank holding company through Southern Michigan Bank & Trust, with 18 offices across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, providing consumer, business, and wealth management services.
Southern Michigan Bancorp (SOMC) reported strong Q1 2025 financial results, with net income reaching $3,046,000 ($0.66 per share), marking a 13.7% increase from $2,678,000 ($0.59 per share) in Q1 2024.
Key performance metrics showed improvement, with return on average assets increasing to 0.79% from 0.73%, and return on average equity rising to 11.11% from 10.80% year-over-year. The tax equivalent net interest margin expanded to 3.08% from 2.95%.
Credit quality remained robust with non-performing loans decreasing to 0.06% of total loans (March 31, 2025) from 0.08% (December 31, 2024). The allowance for credit losses stood at $12,780,000, representing 1.12% of loans. Net loan charge-offs decreased to $2,000 in Q1 2025 from $10,000 in Q1 2024.
Southern Michigan Bancorp (SOMC) has announced an increase in its quarterly cash dividend. The Board of Directors approved a $0.16 per share dividend for April 2025, representing a $0.01 increase from the previous $0.15 payment in January 2025.
The dividend will be payable on April 18, 2025, to shareholders of record April 4, 2025. Based on the current market price of $19.00 per share, the annualized cash dividend of $0.64 per share reflects a 3.37% dividend yield.
Southern Michigan Bancorp operates 18 branches across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, along with a loan production office in Jackson County, offering consumer, business, and wealth management services.
Southern Michigan Bancorp (SOMC) reported Q4 2024 net income of $2.65 million ($0.57 per share), up from $2.44 million ($0.54 per share) in Q4 2023. However, full-year 2024 earnings decreased to $10.40 million ($2.28 per share) from $10.91 million ($2.40 per share) in 2023.
The bank's total assets reached $1.5 billion, with loans growing to $1.116 billion and deposits reaching $1.252 billion. The allowance for credit losses was $12.78 million (1.14% of loans). Non-performing loans remained stable at 0.08% of total loans.
Key performance metrics showed some decline: return on average assets fell to 0.71% from 0.80%, return on average equity decreased to 10.07% from 11.94%, and the tax equivalent net interest margin dropped to 2.98% from 3.16% year-over-year.
Southern Michigan Bancorp (OTC Pink: SOMC) has declared a quarterly dividend of $0.15 per share to be paid on January 24, 2025, to shareholders of record as of January 10, 2025. The annualized cash dividend of $0.60 per share represents a 3.08% dividend yield based on the current market price of $19.50 per share.
The company operates 18 offices across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties, providing consumer, business, and wealth management services throughout the region.
Southern Michigan Bancorp (SOMC) reported Q3 2024 net income of $2,586,000 ($0.57 per share), down from $2,767,000 ($0.61 per share) in Q3 2023. For the first nine months of 2024, earnings were $7,751,000 ($1.70 per share) compared to $8,468,000 ($1.86 per share) in 2023. The bank surpassed $1.5 billion in total assets, with loans at $1.084 billion and deposits at $1.266 billion. The allowance for credit losses was $12,363,000 (1.14% of loans). Return on average assets decreased to 0.70% from 0.84%, while return on equity declined to 10.18% from 12.42%. Net interest margin dropped to 2.94% from 3.18%.
Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) has declared a quarterly dividend of $0.15 per share on its outstanding stock. The dividend will be payable on October 18, 2024, to shareholders of record as of October 9, 2024. This translates to an annualized cash dividend of $0.60 per share, representing a 3.47% dividend yield based on the current market price of $17.29 per share.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent of Southern Michigan Bank & Trust. The company operates 17 offices across six counties in Michigan, offering a range of consumer, business, and wealth management services throughout the region.
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