Southern Michigan Bancorp (OTCMKTS:SOMC) Releases Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC) released its earnings results on Wednesday. The financial services provider reported $0.66 earnings per share for the quarter, Zacks reports. Southern Michigan Bancorp had a net margin of 13.00% and a return on equity of 10.48%.

Southern Michigan Bancorp Price Performance

SOMC traded up $1.19 during trading on Wednesday, reaching $31.88. 100 shares of the stock were exchanged, compared to its average volume of 1,641. 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 business’s 50 day moving average price is $30.93 and its two-hundred day moving average price is $27.58. The company has a market capitalization of $148.24 million, a price-to-earnings ratio of 11.90 and a beta of 0.19.

Southern Michigan Bancorp Company Profile

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.