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Southern Michigan Bancorp, Inc. (SOMC)

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16.500.00 (0.00%)
At close: 02:36PM EDT
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  • GlobeNewswire

    Southern Michigan Bancorp, Inc. Announces First Quarter 2024 Earnings

    COLDWATER, Mich., April 24, 2024 (GLOBE NEWSWIRE) -- Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) announced first quarter net income of $2,678,000, or $0.59 per share, compared to net income of $3,005,000, or $0.66 per share, for the first quarter of 2023. John R. Waldron, President and Chief Executive Officer of Southern Michigan Bancorp, Inc., stated, “Earnings were lower due to net interest margin compression in this higher interest rate environment and our overhead increased as we contin

  • GlobeNewswire

    Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend

    COLDWATER, Mich., March 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) approved an increase to the quarterly cash dividend that will be paid in April 2024. The $0.15 per share dividend is an increase of $0.01 per share over the January 2024 cash dividend payment of $0.14 per share. The dividend is payable on April 19, 2024 to shareholders of record April 5, 2024. The annualized cash dividend of $0.60 per share represents a 3.42% dividend y

  • GlobeNewswire

    Southern Michigan Bancorp, Inc. Announces Fourth Quarter and Full Year 2023 Earnings

    COLDWATER, Mich., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) announced fourth quarter 2023 net income of $2,437,000, or $0.54 per share, compared to net income of $3,584,000, or $0.79 per share, for the fourth quarter of 2022. Southern earned $10,905,000, or $2.40 per share, for the year ended December 31, 2023 compared to $13,491,000, or $2.97 per share, for the same period a year ago. Consolidated assets at December 31, 2023 totaled $1.41 billion compare