Southern Michigan Bancorp (OTCMKTS:SOMC) Issues Quarterly Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, Zacks reports. Southern Michigan Bancorp had a return on equity of 10.21% and a net margin of 12.60%.The firm had revenue of $16.19 million during the quarter.

Southern Michigan Bancorp Price Performance

OTCMKTS SOMC opened at $31.88 on Friday. The business’s 50-day moving average is $31.00 and its 200 day moving average is $27.69. Southern Michigan Bancorp has a 1 year low of $22.00 and a 1 year high of $32.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $148.24 million, a PE ratio of 12.08 and a beta of 0.19.

About Southern Michigan Bancorp

Southern Michigan Bancorp, Inc is the bank holding company for Southern Michigan Bank & Trust Company, a community-focused financial institution headquartered in Coldwater, Michigan. SOMC provides a broad range of banking services to individuals, families and local businesses, with an emphasis on personalized service and local decision-making.

The company’s primary business activities include commercial lending, real estate financing, agricultural loans and consumer banking solutions. Its lending portfolio serves small- and mid-sized businesses, residential and commercial real estate projects, and agricultural enterprises.