Southern Michigan Bancorp, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 28, 2021 at 08:26 am
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Southern Michigan Bancorp, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced net interest income was USD 7.848 million compared to USD 6.691 million a year ago. Net income was USD 3.009 million compared to USD 1.831 million a year ago. Basic earnings per share from continuing operations was USD 0.66 compared to USD 0.4 a year ago. For the half year, net interest income was USD 15.741 million compared to USD 13.092 million a year ago. Net income was USD 6.097 million compared to USD 3.344 million a year ago. Basic earnings per share from continuing operations was USD 1.33 compared to USD 0.73 a year ago.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust (The Bank). The Bank operates about 18 branches within Branch, Calhoun, Hillsdale, Jackson, Kalamazoo, and St. Joseph counties, providing a range of consumer, business, and wealth management services throughout the region. Its business, which it conducts primarily through the Bank, is concentrated in a single industry segment, commercial banking. The Bank offers a variety of deposit, payment, credit, and other financial services to all types of customers. The Bankâs commercial lending covers categories, such as business, industrial, agricultural, construction, inventory, and real estate. It offers trust and investment services, which include investment management, trustee services, and others. It also owns Southern Michigan Bancorp Capital Trust I, SMB Risk Management, Inc., and 27 Marshall Street, LLC. The Bank wholly owns SMB Financial Services, Inc.
SOUTHERN MICHIGAN BANCORP, INC. 
