Southern Michigan Bancorp, Inc. Financial Ratios — SOMC

Profitability (USD)

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Return on Common Equity (%)	4.1	12.74	13.39	11.53	1.83	4.3	6.62	6.82	8.17	8.07	7.99	8.87	8.84	7.74	11.16
Return on Assets (%)	0.32	1.02	1.14	1.04	0.17	0.41	0.65	0.68	0.84	0.84	0.89	1.03	1	0.8	1.12
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	8.09	6.79	5.86	4.34	6.65	5.97	6.02	5.58	5.24	4.7	4.43	4.17	4.73	4.49	4.27
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	7.12	24.78	29.45	29.04	0.22	8.5	17.09	20.16	24.28	25.32	26.77	29.78	31.19	29.69	30.62
Profit Margin (%)	6.39	18.7	21.8	21.56	3.37	8.17	13.86	15.73	18.28	18.29	19.43	22.29	23.1	19.02	26.03
Net Income to Common Margin (%)	6.39	18.7	21.8	21.56	3.37	8.17	13.86	15.73	18.28	18.29	19.43	22.29	23.1	19.02	26.03
Effective Tax Rate (%)	10.25	24.52	25.98	25.79	- -	3.92	18.88	21.99	24.74	27.74	27.43	25.14	25.94	35.94	15.01
Dvd Payout Ratio (%)	116.46	36.35	42.29	36.9	227.43	41.99	15.07	13.82	17.47	26.07	28.11	25.73	28.49	36.17	24.59
Sustainable Growth Rate (%)	-0.67	8.11	7.73	7.28	-2.34	2.49	5.62	5.88	6.74	5.97	5.74	6.59	6.32	4.94	8.42

Credit (USD)

Credit Ratios API ChatGPT

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Total Debt	28	28	27	20	18	16	15	18	6	5	15	15	15	45	34
ST Debt	5	10	10	15	12	11	10	5	- -	- -	- -	- -	- -	- -	- -
LT Debt	23	18	17	5	5	5	5	13	6	5	15	15	15	45	34
Total Debt/EBITDA	21.15	23.31	27.95	23.9	11.02	11.29	11.33	14.95	4.96	4.46	13.85	13.94	12.29	34.86	25.25
Net Debt/EBITDA	6.4	9.53	18.08	6.53	-6.46	-6.23	-47.29	-19.97	-35.37	-23.56	-0.2	1.53	-0.77	21.26	-15.82
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.76	8.2	8.76	9.21	9.35	9.89	9.69	10.19	10.33	10.53	11.62	11.63	10.93	9.83	10.22
Long-Term Debt/Equity (%)	91.05	66.52	61.78	11.66	11.61	11.27	10.77	24.88	11.34	9.07	23.99	22.36	21.89	63.76	44.56
Long-Term Debt/Capital (%)	43.12	32.48	31.12	8.04	8.31	8.35	8.17	18.46	10.18	8.32	19.35	18.28	17.96	38.93	30.82
Long-Term Debt/Total Assets (%)	7.06	5.45	5.41	1.07	1.09	1.11	1.04	2.53	1.17	0.96	2.79	2.6	2.39	6.27	4.56
Total Debt/Equity (%)	111.15	104.79	98.52	45.02	39.73	34.96	31.84	34.82	11.34	9.07	23.99	22.36	21.89	63.76	44.56
Total Debt/Capital (%)	52.64	51.17	49.63	31.04	28.43	25.9	24.15	25.83	10.18	8.32	19.35	18.28	17.96	38.93	30.82
Total Debt/Total Assets (%)	8.62	8.59	8.63	4.15	3.72	3.46	3.08	3.55	1.17	0.96	2.79	2.6	2.39	6.27	4.56
Net Debt to Equity	33.61	42.83	63.72	12.3	-23.28	-19.3	-132.93	-46.51	-80.79	-47.88	-0.35	2.46	-1.38	38.89	-27.92
Net Debt/Capital (%)	25.15	29.99	38.92	10.95	-30.35	-23.92	403.65	-86.96	-420.58	-91.88	-0.35	2.4	-1.4	28	-38.73
EBITDA	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1
EBITDA-CapEx	1	1	1	1	- -	1	1	- -	- -	- -	- -	-1	- -	-2	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.76	8.2	8.76	9.21	9.35	9.89	9.69	10.19	10.33	10.53	11.62	11.63	10.93	9.83	10.22
Long-Term Debt/Equity (%)	91.05	66.52	61.78	11.66	11.61	11.27	10.77	24.88	11.34	9.07	23.99	22.36	21.89	63.76	44.56
Long-Term Debt/Capital (%)	43.12	32.48	31.12	8.04	8.31	8.35	8.17	18.46	10.18	8.32	19.35	18.28	17.96	38.93	30.82
Long-Term Debt/Total Assets (%)	7.06	5.45	5.41	1.07	1.09	1.11	1.04	2.53	1.17	0.96	2.79	2.6	2.39	6.27	4.56
Total Debt/Equity (%)	111.15	104.79	98.52	45.02	39.73	34.96	31.84	34.82	11.34	9.07	23.99	22.36	21.89	63.76	44.56
Total Debt/Capital (%)	52.64	51.17	49.63	31.04	28.43	25.9	24.15	25.83	10.18	8.32	19.35	18.28	17.96	38.93	30.82
Total Debt/Total Assets (%)	8.62	8.59	8.63	4.15	3.72	3.46	3.08	3.55	1.17	0.96	2.79	2.6	2.39	6.27	4.56
CFO/Total Liabilities	2.05	2.09	2.04	1.25	1.83	1.2	1.24	1.96	1.67	1.6	1.58	1.61	1.31	1.08	1.82
CFO/CapEx	- -	- -	- -	- -	6.44	7.24	6.91	10.2	9.35	8.46	9.89	5.19	6.74	2.45	8.97
Altman's Z-Score	0.13	0.15	0.17	0.13	0.13	0.15	0.16	0.16	0.18	0.19	0.21	0.22	0.22	0.22	0.23

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Accounts Receivable Turnover	7.3	8.66	8.59	7.2	8.03	10.16	10.74	10.17	11.31	11.15	10.43	10.64	9.8	9.37	9.6
Days Sales Outstanding	50	42.14	42.51	50.71	45.44	35.93	33.98	35.9	32.26	32.73	34.99	34.3	37.26	38.94	38.03
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Market Capitalization	14	18	24	19	8	21	30	27	39	40	48	61	72	86	88
- Cash & Cash Equivalents	19	16	10	14	28	25	79	42	50	32	15	13	16	17	55
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	28	28	27	20	18	16	15	18	6	5	15	15	15	45	34
Enterprise Value	23	30	41	25	-2	12	-33	-88	-69	-63	-25	-34	-39	8	-34
Total Capital	53	54	55	64	62	62	63	70	61	62	78	83	85	115	109
Total Debt/Capital (%)	52.64	51.17	49.63	31.04	28.43	25.9	24.15	25.83	10.18	8.32	19.35	18.28	17.96	38.93	30.82
Total Debt / EV	1.21	0.93	0.66	0.8	-9.16	1.36	-0.46	-0.21	-0.09	-0.08	-0.6	-0.44	-0.39	5.58	-0.98
EV/Sales	1.41	1.69	2.49	1.3	0.02	0.5	- -	- -	- -	- -	- -	- -	- -	0.28	- -
EV/EBITDA	17.42	24.95	42.45	29.93	0.32	8.29	- -	- -	- -	- -	- -	- -	- -	6.25	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.75	4.79	7.05	4.57	0.07	2.35	- -	- -	- -	- -	- -	- -	- -	1.15	- -
EV/Free Cash Flow to Firm	3.75	4.79	7.05	4.57	0.06	2.06	- -	- -	- -	- -	- -	- -	- -	0.82	- -
Diluted Market Cap	15	19	25	20	8	21	30	26	39	42	51	61	72	88	88
Diluted Enterprise Value	23	30	42	25	-2	13	-34	2	-5	15	50	63	71	115	67
EV per Share	5.82	7.99	11.23	7.03	0.11	2.64	- -	- -	- -	- -	- -	- -	- -	1.73	- -
TTM Sales	16	17	17	19	24	24	22	22	24	25	25	26	26	29	31
TTM EBITDA	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	6	6	6	5	8	5	6	9	8	8	8	8	8	7	12
TTM Free Cash Flow to Firm	6	6	6	5	9	6	6	10	9	9	8	10	9	10	13

Multiples (USD)

Valuation Multiples API ChatGPT

	2002 Y	2003 Y	2004 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
As of date	12/31/2002	12/31/2003	12/31/2004	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018

Price/Free Cash Flow	2.39	3.1	4.27	3.66	0.91	3.75	4.75	2.66	4.45	4.92	6.07	6.14	8.33	8.98	6.57
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	23	30	41	25	-2	12	-33	-88	-69	-63	-25	-34	-39	8	-34
Low Price	3.59	3.64	4.94	5.19	1.77	1.27	4.8	5.25	5.6	8	8.65	10.52	12.35	14.75	17.63
EV/Sales	1.41	1.69	2.49	1.3	0.02	0.5	- -	- -	- -	- -	- -	- -	- -	0.28	- -
EV/EBITDA	17.42	24.95	42.45	29.93	0.32	8.29	- -	- -	- -	- -	- -	- -	- -	6.25	- -
Price/Earnings	14.05	5.86	6.88	4.8	10.21	11.02	9.7	7.71	8.96	9.39	10.55	10.46	11.75	16.12	10.83
Price/Earnings Average	14.42	5.08	6.26	5.1	22.3	7.94	8.51	8.37	7.35	9.11	9.46	9.66	10.25	14.75	10.87
Price/Earnings High	15.01	6.16	7.24	5.41	30.86	11.98	10.07	9.56	9.1	9.55	10.68	10.61	11.75	19.55	13.93
Price/Earnings Low	13.71	4.32	5.27	4.53	9.93	3.02	7.16	7.19	6.08	8.49	8.68	8.68	9.71	12.82	10.02
Price/Book Value	0.58	0.69	0.86	0.44	0.19	0.45	0.64	0.51	0.72	0.71	0.76	0.9	1.03	1.23	1.17
Price/Book Value Average	0.59	0.6	0.78	0.47	0.41	0.32	0.56	0.56	0.59	0.69	0.68	0.83	0.89	1.12	1.17
Price/Book Value High	0.62	0.73	0.9	0.5	0.57	0.49	0.66	0.63	0.73	0.72	0.77	0.91	1.03	1.49	1.5
Price/Book Value Low	0.57	0.51	0.66	0.42	0.18	0.12	0.47	0.48	0.49	0.64	0.62	0.75	0.85	0.98	1.08
Price/Tangible Book Value	0.6	0.71	0.88	0.7	0.3	0.69	0.94	0.72	0.98	0.95	0.98	1.13	1.27	1.52	1.43
Price/Tangible Book Value Average	0.61	0.62	0.8	0.75	0.65	0.49	0.82	0.78	0.81	0.93	0.88	1.05	1.11	1.39	1.43
Price/Tangible Book Value High	0.64	0.75	0.93	0.79	0.9	0.75	0.97	0.9	1	0.97	0.99	1.15	1.27	1.84	1.84
Price/Tangible Book Value Low	0.58	0.53	0.67	0.66	0.29	0.19	0.69	0.67	0.67	0.86	0.8	0.94	1.05	1.21	1.32
Price/Sales	0.9	1.1	1.5	1.04	0.34	0.9	1.34	1.21	1.64	1.72	2.05	2.33	2.72	3.07	2.82
Price/Sales Average	0.92	0.95	1.37	1.1	0.75	0.65	1.18	1.32	1.34	1.67	1.84	2.15	2.37	2.81	2.83
Price/Sales High	0.96	1.15	1.58	1.17	1.04	0.98	1.4	1.5	1.66	1.75	2.08	2.36	2.72	3.72	3.63
Price/Sales Low	0.88	0.81	1.15	0.98	0.33	0.25	0.99	1.13	1.11	1.55	1.69	1.93	2.24	2.44	2.61
Price/Cash Flow	2.39	3.1	4.25	3.64	1.05	4.27	5.44	2.92	4.91	5.48	6.68	7.31	9.54	12.61	7.3
Price/Cash Flow Average	2.45	2.68	3.87	3.87	2.3	3.07	4.77	3.17	4.03	5.32	5.99	6.74	8.32	11.54	7.33
Price/Cash Flow High	2.55	3.25	4.48	4.1	3.18	4.63	5.64	3.62	4.99	5.58	6.76	7.41	9.54	15.29	9.39
Price/Cash Flow Low	2.33	2.28	3.26	3.44	1.02	1.17	4.01	2.72	3.34	4.96	5.49	6.06	7.88	10.02	6.75
Price/Free Cash Flow Average	2.45	2.68	3.89	3.88	1.99	2.7	4.16	2.89	3.65	4.77	5.45	5.67	7.26	8.22	6.6
Price/Free Cash Flow High	2.55	3.25	4.5	4.12	2.75	4.07	4.93	3.3	4.52	5	6.15	6.22	8.33	10.89	8.46
Price/Free Cash Flow Low	2.33	2.28	3.27	3.45	0.88	1.03	3.51	2.48	3.02	4.45	4.99	5.09	6.88	7.14	6.08
EV/Sales Average	1.43	1.55	2.36	1.36	0.33	0.25	- -	0.22	- -	0.49	1.73	2.23	2.34	3.72	2.16
EV/Sales High	1.47	1.75	2.56	1.43	0.63	0.57	- -	0.41	- -	0.56	1.95	2.44	2.69	4.61	2.96
EV/Sales Low	1.39	1.42	2.15	1.24	0.24	0.12	- -	0.03	- -	0.38	1.58	2.01	2.22	3.35	1.94
EV/EBITDA Average	17.7	22.89	40.27	31.36	5.02	4.23	-27.45	3.9	-9.6	10.38	38.97	53.37	49.46	82.66	50.63
EV/EBITDA High	18.17	25.73	43.73	32.86	9.42	9.55	-23.79	7.29	-3.46	12.02	44.02	58.48	56.84	102.65	69.3
EV/EBITDA Low	17.15	20.89	36.74	28.61	-1.35	-2.25	-30.58	0.53	-14.05	8.07	35.72	48.11	46.82	74.61	45.43
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	3.68	4.94	6.45	5.5	1.82	4.63	6.5	5.63	8.25	8.85	10.52	12.68	14.95	18.55	19.05
High Price	3.93	5.19	6.79	6.19	5.5	5.03	6.75	6.98	8.38	9	10.65	12.86	14.95	22.5	24.5
Enterprise Value Average	23	27	39	26	8	6	-37	5	-12	12	43	58	62	106	67
Enterprise Value High	24	30	42	27	15	14	-32	9	-4	14	48	64	71	131	92
Enterprise Value Low	22	25	36	24	-2	-3	-41	1	-18	9	39	52	58	96	61

Shares Outstanding	4	4	4	4	5	4	5	5	5	5	5	5	5	5	5
Diluted Weighted Avg Shares	4	4	4	4	5	5	5	5	5	5	5	5	5	5	5
Basic Weighted Avg Shares	4	4	4	4	5	5	5	5	5	5	5	5	5	5	5
Revenue per Share	4.1	4.51	4.3	5.31	5.28	5.14	4.83	4.64	5.04	5.15	5.13	5.44	5.51	6.05	6.76
EBITDA per Share	0.33	0.31	0.25	0.23	0.35	0.31	0.29	0.26	0.26	0.24	0.23	0.23	0.26	0.27	0.29
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.26	0.84	0.94	1.14	0.18	0.42	0.67	0.73	0.92	0.94	1	1.21	1.27	1.15	1.76
Basic EPS from Cont Ops	0.26	0.84	0.94	1.14	0.18	0.42	0.67	0.73	0.92	0.94	1	1.21	1.27	1.15	1.76
Diluted EPS, GAAP	0.26	0.84	0.93	1.14	0.18	0.42	0.67	0.73	0.92	0.94	1	1.21	1.27	1.15	1.76
Diluted EPS from Cont Ops	0.26	0.84	0.93	1.14	0.18	0.42	0.67	0.73	0.92	0.94	1	1.21	1.27	1.15	1.76
Dividend per Share	0.31	0.31	0.4	0.42	0.41	0.18	0.1	0.1	0.16	0.25	0.28	0.31	0.36	0.42	0.43
Cash Flow per Share	1.54	1.6	1.52	1.51	1.73	1.09	1.2	1.93	1.68	1.61	1.58	1.74	1.57	1.47	2.61
Free Cash Flow per Basic Share	1.54	1.6	1.52	1.51	1.46	0.94	1.02	1.74	1.5	1.42	1.42	1.4	1.33	0.87	2.32
Cash & Equivalents per Share	4.93	4.41	2.61	4.08	6.05	5.59	16.84	28.09	24.17	23.73	19.43	22.99	26.24	26.46	33.72
Book Value per Share	6.35	7.12	7.51	12.48	9.61	10.29	10.22	10.99	11.5	12.45	13.9	14.08	14.57	15.12	16.31
Tangible Book Value per Share	6.16	6.93	7.32	7.82	6.12	6.74	6.92	7.8	8.39	9.28	10.78	11.19	11.73	12.22	13.34

Southern Michigan Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)