Southern Michigan Bancorp has announced second quarter 2017 net income of $1,493,000, or 63 cents per share, compared to net income of $1,398,000, or 58 cents per share for the second quarter of 2016.
Southern has also announced they have earned $2,939,000, or $1.22 per share, for the six-month period ended June 30, 2017 compared to $2,772,000, or $1.15 per share, for the same six-month period a year ago.
Total consolidated assets at June 30, 2017 were $664.9 million compared to $641.5 million at December 31, 2016.
No provision for loan losses was required during the first six months of 2017.Chair and Chief Executive Officer John Castle says they are pleased with their second quarter and year to date results.
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 15 branches in Branch, Calhoun, Hillsdale, Kalamazoo and St. Joseph Counties.
