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Last $24.00 USD
Change Today +0.05 / 0.21%
Volume 121.0
SOMC On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

southern michigan bancorp (SOMC) Snapshot

Open
$24.00
Previous Close
$23.95
Day High
$24.00
Day Low
$24.00
52 Week High
08/3/15 - $24.00
52 Week Low
08/5/14 - $19.00
Market Cap
54.4M
Average Volume 10 Days
202.1
EPS TTM
$2.34
Shares Outstanding
2.3M
EX-Date
06/30/15
P/E TM
10.3x
Dividend
$0.64
Dividend Yield
2.54%
Current Stock Chart for SOUTHERN MICHIGAN BANCORP (SOMC)

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southern michigan bancorp (SOMC) Related Businessweek News

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southern michigan bancorp (SOMC) Details

Southern Michigan Bancorp, Inc. operates as the bank holding company for Southern Michigan Bank & Trust that provides various commercial banking products and services for individuals, businesses, institutions, and government agencies in the southwest Michigan communities. It accepts various deposit products, such as checking, savings, investment/money market, and individual retirement accounts, as well as time and demand deposits and certificates of deposit. The company also provides home mortgages, equity loans, and personal loans; business loans comprising lines of credit, term loans, commercial real estate loans, agriculture loans, letters of credit, small business administration loans, and capital access loans; industrial, construction, inventory, and real estate loans; and consumer lending products consisting of direct and indirect loans to purchasers of residential real property and consumer goods. In addition, it offers trust and investment services, which include investment management, trustee services, IRA rollovers and retirement plans, institutional and personal custody, estate settlement, wealth management, estate planning assistance, wealth transfer planning assistance, charitable gift planning assistance, and cash management custody; and safe deposit and automated teller machine services. Further, the company provides online and mobile banking, bill pay, e-statements, business succession planning, remote deposit capture, and insurance and other products brokerage services, as well as payroll, prepaid, gift, and credit cards. It operates through a network of 14 banking offices located in Battle Creek, Camden, Centreville, Coldwater, Constantine, Hillsdale, Marshall, Mendon, Tekonsha, Three Rivers, and Union City, Michigan, as well as a loan production office located in Angola, Indiana. The company was founded in 1871 and is based in Coldwater, Michigan.

southern michigan bancorp (SOMC) Top Compensated Officers

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Executives, Board Directors

southern michigan bancorp (SOMC) Key Developments

Southern Michigan Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Southern Michigan Bancorp Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $5,249,000 compared to $5,060,000 a year ago. Net interest income was $4,849,000 compared to $4,664,000 a year ago. Income before income taxes was $2,385,000 compared to $1,572,000 a year ago. Net income was $1,880,000 or $0.79 per basic and diluted share compared to $1,146,000 or $0.48 per basic and diluted share a year ago. For the six months period, the company reported total interest income of $10,374,000 compared to $10,057,000 a year ago. Net interest income was $9,594,000 compared to $9,198,000 a year ago. Income before income taxes was $4,052,000 compared to $3,083,000 a year ago. Net income was $3,089,000 or $1.29 per basic and diluted share compared to $2,248,000 or $0.93 per diluted share a year ago. The annualized return on average assets for the six month periods ended June 30, 2015 and 2014 was 1.11% and 0.81%, respectively. The annualized return on average equity was 10.03% for the first six months of 2015 compared to 7.74% for the same period of 2014.

Southern Michigan Bancorp Inc. Declares Quarterly Dividend, Payable on July 17, 2015

Southern Michigan Bancorp Inc. annual meeting Chairman and CEO John Castle announced that the board of directors approved an increase to the quarterly cash dividend that will be paid in July 2015. The $0.16 per share dividend is an increase of $0.01 per share over the April 2015 cash dividend payment. The annualized cash dividend of $0.64 per share represents a 2.78% dividend yield based on the current market price of $23.00 per share. The dividend will be payable July 17, 2015 to shareholders of record as of July 2, 2015.

Southern Michigan Bancorp, Inc. Announces Earnings Results for the First Quarter Ended March 31, 2015; Announces Net Charge-Offs for the First Quarter Ended March 31, 2015

Southern Michigan Bancorp Inc. announced earnings results for the first quarter ended March 31, 2015. The company reported net income of $1,209,000, or $0.50 per share, for the quarter ended March 31, 2015. This compared to net income of $1,102,000, or $0.46 per share, for the first quarter of 2014. The annualized return on average assets for the three month period ended March 31, 2015 was 0.87% compared to 0.80% for the first quarter of 2014. The annualized return on average equity was 7.91% for the first quarter of 2015 compared to 7.65% for the first quarter of 2014. Net interest income was $4,745,000 compared to $4,534,000 for the first quarter of 2014. Income before income taxes was $1,667,000 compared to $1,511,000 for the first quarter of 2014. Total interest income was $5,125,000 compared to $4,997,000 a year ago. The company's net charge-offs decreased 22.9% totaling $108,000 for the first quarter of 2015, compared to $140,000 during the first quarter of 2014.

 

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SOMC:US $24.00 USD +0.05

SOMC Competitors

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Company Last Change
ChoiceOne Financial Services Inc $22.75 USD 0.00
Citizens Community Bancorp Inc/WI $9.11 USD +0.01
HMN Financial Inc $11.80 USD +0.10
Mackinac Financial Corp $10.60 USD -0.04
PSB Holdings Inc/WI $43.80 USD 0.00
View Industry Companies
 

Industry Analysis

SOMC

Industry Average

Valuation SOMC Industry Range
Price/Earnings 10.2x
Price/Sales 2.2x
Price/Book 0.9x
Price/Cash Flow 10.2x
TEV/Sales 0.4x
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