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STURGIS BANCORP INC - $STBI STOCK NEWS

Welcome to our dedicated page for STURGIS BANCORP news (Ticker: $STBI), a resource for investors and traders seeking the latest updates and insights on STURGIS BANCORP stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect STURGIS BANCORP's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of STURGIS BANCORP's position in the market.

News
Sturgis Bancorp, Inc. Declares Quarterly Cash Dividend
Rhea-AI Summary
Sturgis Bancorp, Inc. (STBI) declares a quarterly cash dividend of $0.17 per common share, maintaining the highest dividend level in the company's history. The dividend is payable on June 14, 2024, to stockholders of record as of May 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.49%
Tags
dividends
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News
Sturgis Bancorp, Inc. Reports Financial Results for First Quarter 2024
Rhea-AI Summary
Sturgis Bancorp, Inc. reported a net loss of $(1.97 million) for the first quarter of 2024, with a loss per share of $(0.92). Despite the large credit loss, credit quality remains strong with 99.44% of unguaranteed loans performing as per agreements. Total assets increased to $925 million, deposits rose to $807 million, and the Bank maintained well-capitalized status with a Tier 1 leverage capital of 7.64%. The Bank's entrance into new markets led to growth in deposit base and relationships, with a focus on overall financial services. Income statement highlights show a decrease in net interest income, while noninterest income increased significantly. Noninterest expenses decreased, and the balance sheet saw increases in total assets, securities, net loans, and total deposits.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.49%
Tags
earnings
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News
Sturgis Bancorp, Inc. Reports Financial Results for 2023
Rhea-AI Summary
Sturgis Bancorp, Inc. (STBI) announced financial results for Q4 and year-end 2023, revealing a net loss in Q4 but a net income for the year. Credit quality remains strong, with 98.60% of loans performing. The Bank maintained strong capital ratios and saw increases in total assets, net loans, and total deposits. CEO Jason J. Hyska highlighted challenges faced, including a loss due to a large commercial relationship, one-time compensation expenses, and expectations for 2024. Noninterest income from mortgage banking activities and fee income contributed positively to net income diversification.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
News
Sturgis Bancorp, Inc. Declares Quarterly Cash Dividend
Rhea-AI Summary
Sturgis Bancorp, Inc. (STBI) declared a cash dividend of $0.17 per common share, continuing the highest quarterly dividend in the company's history. The company is the holding company for Sturgis Bank & Trust Company and its subsidiaries, offering a full array of financial services. The dividend is payable on March 15, 2024, to stockholders of record on February 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.61%
Tags
dividends
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News
Sturgis Bancorp, Inc. Announces Retirement of Eric L. Eishen
Rhea-AI Summary
Sturgis Bancorp, Inc. (STBI) announced the retirement of Eric L. Eishen after 45 years of service to Sturgis Bank. The planned succession process started in July 2022, with Jason Hyska as CEO and Matt Scheske as president. Hyska is now appointed president and CEO. Eishen's leadership and vision contributed to bank growth, and he leaves the bank in capable hands. Eishen's contributions have been recognized with numerous awards, and the bank continues to be committed to the philosophy of the four stakeholders: customers, community, employees, and shareholders.
Rhea-AI Impact
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End-of-Day
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News
Sturgis Bancorp, Inc. Declares Quarterly Cash Dividend
Rhea-AI Summary
Sturgis Bancorp, Inc. declares quarterly cash dividend
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
dividends
News
Sturgis Bancorp, Inc. Reports Earnings for Third Quarter 2023
Rhea-AI Summary
Sturgis Bancorp, Inc. (OTCQX:STBI) announced net income of $3.2 million for Q3 2023 and $6.4 million for the first nine months of 2023. Credit quality remains strong, with 99.46% of loans performing according to loan agreements. Total assets increased 3.8% to $897.4 million during the first nine months of 2023. Net loans increased 5.0% to $734.6 million during the first nine months of 2023. Total non-brokered deposits increased 8.8% to $718.1 million during the first nine months of 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
earnings
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News
Sturgis Bancorp Reports Earnings for Second Quarter 2023
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
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earnings
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News
Sturgis Bancorp, Inc. Declares Quarterly Cash Dividend
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Tags
dividends
News
Sturgis Bancorp Reports Earnings for First Quarter 2023
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.75%
Tags
earnings
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STURGIS BANCORP INC

OTC:STBI

STBI Rankings

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STBI Stock Data

36.02M
2.01M
Commercial Banking
Finance and Insurance
Link
United States of America
Sturgis

About STBI

sturgis bank is a company based out of 365 center st, south haven, michigan, united states.