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Complete financial analysis of Southern Michigan Bancorp, Inc. (SOMC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Southern Michigan Bancorp, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.
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Southern Michigan Bancorp, Inc. (SOMC)
About Southern Michigan Bancorp, Inc.
Southern Michigan Bancorp, Inc. operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest Michigan communities. Its deposit products include interest and non-interest checking, savings, and various types of money market accounts; time, savings, and demand deposits; and certificates of deposit and IRAs. The company also provides home mortgages and equity loans, home equity line of credit, and auto/personal loans; business loans, such as lines of credit, term loans, commercial real estate loans, commercial and industrial loans, agriculture loans, letters of credit, small business administration loans, and capital access loans; industrial, construction, real estate, and inventory loans; and consumer lending products comprising direct and indirect loans to purchasers of residential real property and consumer goods. In addition, it offers trust and investment services that include investment management, trustee, IRA rollovers and retirement plan, institutional and personal custody, estate settlement, wealth management, estate and wealth transfer planning assistance, charitable gift planning assistance, and cash management custody services; and safe deposit box and automated teller machine services. Further, the company provides online and mobile banking, bill pay, e-statements, health savings account, ACH, wire transfer, remote deposit capture, insurance, and merchant services, as well as ATM, debit, credit, and gift cards. As of March 23, 2022, it operated 13 branches within Branch, Calhoun, Hillsdale, Kalamazoo, and St. Joseph Counties. The company was founded in 1871 and is based in Coldwater, Michigan.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 46.81M | 51.51M | 46.15M | 40.20M | 40.21M | 31.22M | 28.51M | 26.35M | 26.05M | 24.67M | 24.59M | 23.80M | 22.72M | 23.45M | 23.71M | 24.16M | 19.17M | 16.53M | 17.45M | 16.16M | 16.11M | 15.58M | 14.64M | 3.80M | 2.78M | 2.19M | 1.75M |
| Cost of Revenue | -26.49M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 73.31M | 51.51M | 46.15M | 40.20M | 40.21M | 31.22M | 28.51M | 26.35M | 26.05M | 24.67M | 24.59M | 23.80M | 22.72M | 23.45M | 23.71M | 24.16M | 19.17M | 16.53M | 17.45M | 16.16M | 16.11M | 15.58M | 14.64M | 3.80M | 2.78M | 2.19M | 1.75M |
| Gross Profit Ratio | 156.59% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 5.30M | 4.37M | 4.24M | 3.92M | 4.04M | 15.33M | 14.23M | 12.51M | 12.77M | 12.15M | 12.48M | 11.38M | 12.07M | 11.46M | 11.20M | 10.58M | 7.65M | 6.65M | 6.72M | 6.26M | 5.28M | 4.80M | 4.57M | 4.53M | 4.51M | 4.05M | 3.55M |
| Selling & Marketing | 670.00K | 583.00K | 397.00K | 218.00K | 448.00K | 444.00K | 317.00K | 350.00K | 324.00K | 317.00K | 275.00K | 316.00K | 0.00 | 0.00 | 0.00 | 0.00 | 237.00K | 250.00K | 223.00K | 208.00K | 316.00K | 271.00K | 287.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 29.82M | 26.06M | 23.87M | 21.42M | 20.90M | 15.77M | 14.54M | 12.86M | 13.09M | 12.47M | 12.76M | 11.70M | 12.07M | 11.46M | 11.20M | 10.58M | 7.89M | 6.90M | 6.94M | 6.46M | 5.59M | 5.07M | 4.86M | 4.53M | 4.51M | 4.05M | 3.55M |
| Other Expenses | 0.00 | -6.66M | -6.12M | -4.96M | -5.46M | -37.43M | -34.59M | -30.98M | -31.38M | -30.54M | 0.00 | 0.00 | -30.43M | -31.10M | -32.90M | -34.69M | 0.00 | -18.57M | 0.00 | -21.47M | -18.08M | -16.10M | -15.19M | -3.59M | -3.18M | -2.03M | -1.85M |
| Operating Expenses | 29.82M | 6.66M | 6.12M | 4.96M | 5.46M | -21.66M | -20.05M | -18.11M | -18.29M | -18.07M | 18.03M | 17.22M | -18.36M | -19.63M | -21.70M | -24.10M | 237.00K | -11.66M | 223.00K | -15.01M | -12.49M | -11.02M | -10.34M | 938.00K | 1.33M | 2.02M | 1.70M |
| Cost & Expenses | 29.82M | 35.44M | 32.03M | 31.41M | 29.90M | -21.66M | -20.05M | -18.11M | -18.29M | -18.07M | 18.03M | 17.22M | -18.36M | -19.63M | -21.70M | -24.10M | 237.00K | -11.66M | 223.00K | -15.01M | -12.49M | -11.02M | -10.34M | 938.00K | 1.33M | 2.02M | 1.70M |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 29.78M | 25.35M | 22.03M | 21.20M | 20.32M | 19.92M | 19.99M | 19.68M | 20.72M | 21.94M | 25.93M | 23.54M | 16.64M | 17.08M | 18.75M | 21.72M | 23.25M | 20.05M | 19.45M | 30.29M | 27.40M | 24.57M |
| Interest Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.50M | 2.77M | 1.81M | 1.63M | 1.61M | 2.15M | 2.82M | 3.75M | 4.47M | 5.40M | 8.19M | 8.64M | 4.37M | 5.22M | 6.45M | 9.65M | 10.70M | 8.44M | 8.03M | 7.44M | 6.60M | 6.38M |
| Depreciation & Amortization | -14.13M | 1.40M | 1.39M | 1.47M | 1.41M | 1.33M | 1.28M | 1.25M | 1.09M | 1.09M | 1.16M | 1.25M | 1.21M | 1.35M | 362.00K | 1.60M | 833.00K | 968.00K | 1.19M | 1.31M | 1.02M | 786.00K | 917.00K | 599.00K | 527.00K | 410.05K | 275.11K |
| EBITDA | -782.00K | 17.48M | 15.51M | 10.26M | 11.71M | 10.89M | 9.81M | 10.47M | 8.84M | 7.70M | 7.38M | 7.03M | 5.57M | 5.16M | 3.43M | 1.66M | 6.40M | 5.84M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Ratio | -1.67% | -0.73% | -0.72% | -0.09% | -0.09% | 34.89% | 34.18% | 35.99% | 33.95% | 31.20% | 30.01% | 29.53% | 24.51% | 22.02% | 10.03% | 6.85% | 33.39% | 35.31% | 31.57% | 15.21% | 28.80% | 34.28% | 35.67% | 140.49% | 166.81% | 210.73% | 212.76% |
| Operating Income | 16.99M | 16.45M | 14.45M | 8.83M | 10.35M | 9.56M | 8.46M | 8.23M | 7.76M | 6.60M | 6.23M | 5.78M | 4.36M | 3.82M | 2.02M | 53.00K | 5.57M | 4.87M | 4.32M | 1.15M | 3.62M | 4.55M | 4.31M | 4.73M | 4.12M | 4.21M | 3.45M |
| Operating Income Ratio | 36.30% | 31.93% | 31.32% | 21.95% | 25.73% | 30.62% | 29.68% | 31.25% | 29.78% | 26.77% | 25.32% | 24.28% | 19.19% | 16.28% | 8.50% | 0.22% | 29.04% | 29.45% | 24.78% | 7.12% | 22.46% | 29.24% | 29.40% | 124.71% | 147.88% | 192.02% | 197.05% |
| Total Other Income/Expenses | -3.64M | -375.00K | -332.00K | -36.00K | -36.00K | -2.34M | -2.32M | -2.24M | -2.40M | -3.11M | -2.57M | -1.08M | -1.21M | -1.35M | -1.42M | -1.60M | 0.00 | 0.00 | -6.40M | -7.75M | -10.67M | -11.48M | -9.35M | -8.63M | -7.97M | -7.01M | -6.66M |
| Income Before Tax | 13.35M | 16.07M | 14.12M | 8.79M | 10.31M | 9.56M | 8.46M | 8.23M | 7.76M | 6.60M | 6.23M | 5.78M | 4.36M | 3.82M | 2.02M | 53.00K | 5.57M | 4.87M | 4.32M | 1.15M | 3.62M | 4.55M | 4.31M | 4.73M | 4.12M | 4.21M | 3.45M |
| Income Before Tax Ratio | 28.51% | 31.20% | 30.60% | 21.87% | 25.64% | 30.62% | 29.68% | 31.25% | 29.78% | 26.77% | 25.32% | 24.28% | 19.19% | 16.28% | 8.50% | 0.22% | 29.04% | 29.45% | 24.78% | 7.12% | 22.46% | 29.24% | 29.40% | 124.71% | 147.88% | 192.02% | 197.05% |
| Income Tax Expense | 2.44M | 2.58M | 2.36M | 1.40M | 1.69M | 1.44M | 3.04M | 2.14M | 1.95M | 1.81M | 1.73M | 1.43M | 959.00K | 721.00K | 79.00K | -760.00K | 1.44M | 1.27M | 1.06M | 118.00K | 875.00K | 1.18M | 1.01M | 1.19M | 1.09M | 1.15M | 835.00K |
| Net Income | 10.91M | 13.49M | 11.76M | 7.39M | 8.62M | 8.13M | 5.42M | 6.10M | 5.81M | 4.79M | 4.50M | 4.35M | 3.40M | 3.10M | 1.94M | 813.00K | 4.13M | 3.60M | 3.26M | 1.03M | 2.74M | 3.38M | 3.30M | 3.55M | 3.03M | 3.06M | 2.61M |
| Net Income Ratio | 23.29% | 26.19% | 25.48% | 18.37% | 21.44% | 26.03% | 19.01% | 23.14% | 22.29% | 19.43% | 18.29% | 18.28% | 14.97% | 13.21% | 8.17% | 3.37% | 21.56% | 21.80% | 18.70% | 6.39% | 17.03% | 21.67% | 22.54% | 93.49% | 108.91% | 139.54% | 149.36% |
| EPS | 2.40 | 2.98 | 2.59 | 1.60 | 1.87 | 1.76 | 1.15 | 1.27 | 1.21 | 1.00 | 0.94 | 0.92 | 0.73 | 0.67 | 0.42 | 0.18 | 1.15 | 0.94 | 0.84 | 0.26 | 0.68 | 0.83 | 0.78 | 0.74 | 0.69 | 0.70 | 0.61 |
| EPS Diluted | 2.40 | 2.97 | 2.58 | 1.60 | 1.87 | 1.76 | 1.15 | 1.27 | 1.21 | 1.00 | 0.94 | 0.92 | 0.73 | 0.67 | 0.42 | 0.18 | 1.14 | 0.93 | 0.84 | 0.26 | 0.68 | 0.83 | 0.78 | 0.74 | 0.69 | 0.70 | 0.61 |
| Weighted Avg Shares Out | 4.54M | 4.53M | 4.54M | 4.60M | 4.61M | 4.62M | 4.71M | 4.79M | 4.79M | 4.81M | 4.78M | 4.73M | 4.66M | 4.62M | 4.61M | 4.56M | 3.61M | 3.84M | 3.87M | 3.94M | 4.03M | 4.05M | 4.23M | 4.82M | 4.40M | 4.36M | 4.28M |
| Weighted Avg Shares Out (Dil) | 4.54M | 4.54M | 4.55M | 4.61M | 4.61M | 4.63M | 4.73M | 4.81M | 4.80M | 4.81M | 4.79M | 4.74M | 4.67M | 4.62M | 4.61M | 4.56M | 3.63M | 3.86M | 3.87M | 3.94M | 4.03M | 4.05M | 4.23M | 4.82M | 4.40M | 4.36M | 4.28M |
Southern Michigan Bancorp, Inc. Announces Second Quarter 2023 Earnings
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Announces First Quarter 2021 Earnings
Southern Michigan Bancorp, Inc. Announces Completion of $30 Million Subordinated Debt Offering
Source: https://incomestatements.info
Category: Stock Reports