Sturgis Bancorp, Inc. reports recurring developments tied to its role as the holding company for Sturgis Bank & Trust Company, a Michigan community bank offering trust, commercial, and consumer banking services. Company updates also describe related financial-advisory, insurance, and title services provided through subsidiaries including Oakleaf Financial Services, Ayres/Oak Insurance, and Oak Title Services.
News themes for STBI include quarterly and annual operating results, net interest income, net interest margin, loan and deposit trends, credit quality, allowance activity, capital ratios, service-cost changes, and the bank's relationship-banking strategy. The company also issues regular dividend announcements for its common stock traded on OTCQX.
Sturgis Bancorp (STBI) reported third-quarter 2026 net income of $2.5 million, up from the same quarter a year earlier. Earnings per share were $1.17, versus $1.16 in the second quarter and $1.09 a year earlier. Net interest income reached $8.946 million. Tax-equivalent net interest margin fell to 3.72% from 3.77% sequentially but exceeded 3.54% a year earlier.
Nine-month net income rose to $6.969 million from $5.447 million. Quarter-end deposits reached $951.644 million and assets totaled $1.1 billion. Newly issued subordinated debt ended the quarter at $24.826 million; proceeds included repayment of approximately $17.9 million of existing debt. Equity declined sequentially to $65.589 million, reflecting a $3.4 million unrealized securities loss. The Bank's Tier 1 leverage capital ratio was 9.21%, above well-capitalized requirements. Sturgis expects its planned Paw Paw branch to open in late 2027.
Sturgis Bancorp (STBI) declared a quarterly cash dividend of $0.18 per common share, payable on December 15, 2026. Stockholders of record at the close of business on November 13, 2026, will receive the payment. The declaration maintains the quarterly dividend at the highest level in the company’s history.
Sturgis Bancorp (STBI) completed a private placement of $25.5 million aggregate principal amount of 7.0% fixed-to-floating rate subordinated notes due September 15, 2036. The notes were sold at 100% of principal to qualified institutional buyers and accredited investors and are intended to qualify as Tier 2 regulatory capital.
The company plans to use net proceeds for general corporate purposes, including repayment of about $17.9 million of existing indebtedness and a downstream capital contribution to Sturgis Bank & Trust. The notes bear 7.0% fixed interest, payable semi-annually to September 15, 2031, then a floating rate of Three-Month Term SOFR plus 286 basis points, payable quarterly, and may be redeemed at par plus accrued interest on any interest payment date from September 15, 2031.
Sturgis Bancorp (OTCQX: STBI) reported second quarter 2026 net income of $2.5 million, up from $1.9 million in 1Q26 and $1.6 million in 2Q25, with earnings per share of $1.16 and a quarterly dividend of $0.18 per share. Tax-equivalent net interest margin improved to 3.77%, and Tier 1 leverage capital stood at 8.63%, above well-capitalized thresholds.
According to Sturgis Bancorp, net interest income after credit losses rose to $9.5 million, aided by a $688,000 provision reversal tied largely to a $40.1 million residential mortgage sale. Total assets reached $1.03 billion, loans fell to $755 million due to the sale, deposits were $893 million, and equity increased to $66.8 million, with book value per share at $30.73 ($26.41 tangible). Year-to-date 2026 net income was $4.4 million, or $2.04 per share.
Sturgis Bancorp (OTCQX: STBI) announced that its Board of Directors declared a quarterly cash dividend of $0.18 per common share, payable on September 15, 2026 to shareholders of record as of August 14, 2026. According to the company, this maintains the dividend at the highest quarterly level in its history.
Sturgis Bancorp (OTCQX:STBI) declared a quarterly cash dividend of $0.18 per common share, payable June 15, 2026 to shareholders of record at the close of business on May 15, 2026. The Board said this continues the quarterly dividend at the highest level in company history.
Sturgis Bancorp is the holding company for Sturgis Bank & Trust and subsidiaries offering banking, investment, insurance, and title services across multiple Michigan locations.
Sturgis Bancorp (OTCQX:STBI) reported 1Q26 results with net income $1.912M and EPS $0.88. The bank declared a $0.18 dividend and maintained Tier 1 leverage 8.08%. Total assets were $1,014.9M, deposits $908.4M, tax-equivalent NIM 3.70%.
Loans net of allowance were $785.9M. Book value per share was $29.78 ($25.68 tangible). Results reflect higher interest income year-over-year and lower noninterest income versus prior quarter.
Sturgis Bancorp (OTCQX:STBI) reported full-year 2025 net income of $7.46 million and EPS of $3.45, versus $2.84 million and $1.32 in 2024. Total assets reached $998.7 million and Tier 1 leverage capital was 8.11%, above well-capitalized standards. Quarterly 4Q25 net income was $2.01 million with EPS $0.93. Book value per share rose to $29.17 ($25.07 tangible). The bank reversed $383,000 to the allowance for credit losses in 2025 and paid subordinated debentures in full by year-end.
Sturgis Bancorp (OTCQX:STBI) said its Board declared a quarterly cash dividend of $0.18 per common share, payable March 13, 2026, to shareholders of record at the close of business on February 13, 2026.
The declaration raises the quarterly dividend by $0.01 to the highest level in the company's history. The release also summarizes Sturgis Bancorp's subsidiaries and local banking and financial-service operations in multiple Michigan communities.
Sturgis Bancorp (OTCQX:STBI) declared a quarterly cash dividend of $0.17 per common share, payable December 15, 2025 to shareholders of record at the close of business on November 14, 2025. The Board said this continues the quarterly dividend at the highest level in the company’s history.
Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company and subsidiaries including Oakleaf Financial Services, Oak Mortgage, Ayres/Oak Insurance, and Oak Title Services, which provide banking, mortgage, investment, insurance, and title services across multiple Michigan communities.