COLDWATER, MI (WTVB) – Southern Michigan Bancorp, the parent company for Southern Michigan Bank and Trust, has announced third quarter 2017 net income of over $1.7 million or 75 cents per share.
Those figures are higher than the third quarter of 2016 when Southern reported a net income of $1.658 million and 69 cents per share.
Southern earned over $4.6 million or $1.97 per share, for the nine-month period ended September 30th, 2017.
That’s compared to over $4.4 million or $1.84 per share, for the same nine-month period a year ago.
Chair and Chief Executive Officer John Castle says Southern’s expansion into the Kalamazoo market last year has resulted in record high loan, deposit and total asset footings as of September 30, 2017
