Southern Michigan Bancorp, Inc.
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- Southern Michigan Bancorp, Inc. is a bank holding company headquartered in Coldwater, Michigan, founded in 1871. It serves as the parent company of Southern Michigan Bank & Trust, which operates 18 branches across Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph Counties in Michigan. The company provides a comprehensive suite of financial products and services including commercial banking, consumer banking, and wealth management. Its product offerings encompass deposit accounts such as interest and non-interest checking, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts. It originates various loan products including commercial, financial, agricultural, consumer, residential mortgage, home equity loans and lines of credit, auto and personal loans, small business administration loans, commercial real estate loans, industrial and construction loans, and letters of credit. The company also offers trust and investment services such as investment management, trustee services, IRA rollovers and retirement plans, estate settlement, wealth management, estate and wealth transfer planning, charitable gift planning, cash management custody services, and safe deposit box facilities. Additional services include treasury services with cash management, ACH services, business bill pay, merchant services, payroll cards, remote deposit capture, wire transfers, and debit, credit, prepaid, and gift cards. It supports municipal and mobile banking along with insurance and fraud protection services. Recent major developments include sustained earnings growth with a reported net income increase to $3.02 million for the third quarter of 2025, reflecting a 16.7% rise compared to the same period in 2024. The company has focused on expanding its market presence and investing in its workforce, resulting in record levels of loans, deposits, and total assets. Credit quality remains strong with a modest allowance for credit losses and low non-performing loan ratios. Southern Michigan Bancorp has emphasized strategic growth initiatives through ongoing market expansion and enhancement of staffing resources, contributing to improved financial performance. It continues to enhance customer service through technological investments such as Personal Teller Machines (PTMs) for more convenient banking transactions. Southern Michigan Bancorp primarily operates within the financial services industry, targeting individual retail customers, small and medium-sized businesses, agricultural enterprises, and institutional clients within southwestern and south-central Michigan. Its extensive local branch network and diverse financial services enable it to maintain a strong regional presence and customer base while adapting to evolving market needs to drive sustained growth and shareholder value.
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces First Quarter 2026 Earnings
Contrasting Southern Michigan Bancorp (OTCMKTS:SOMC) & BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP)
Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend
Comparing Southern Michigan Bancorp (OTCMKTS:SOMC) & Hanover Bancorp (NASDAQ:HNVR)
Southern Michigan Bancorp (OTCMKTS:SOMC) Stock Crosses Above 200-Day Moving Average – Should You Sell?
Southern Michigan Bancorp, Inc. Announces Fourth Quarter and Full Year 2025 Earnings
Southern Michigan Bancorp (OTCMKTS:SOMC) Stock Crosses Above 200 Day Moving Average – Time to Sell?
Southern Michigan Bancorp, Inc. Announces Third Quarter 2025 Earnings
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces Second Quarter 2025 Earnings
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces First Quarter 2025 Earnings
Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend
Southern Michigan Bancorp, Inc. Announces Fourth Quarter and Full Year 2024 Earnings
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces Third Quarter 2024 Earnings
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces First Quarter 2024 Earnings