Last $19.50 USD
Change Today -0.05 / -0.26%
Volume 1.2K
SOMC On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

southern michigan bancorp (SOMC) Snapshot

Open
$19.50
Previous Close
$19.55
Day High
$19.50
Day Low
$19.50
52 Week High
09/10/14 - $19.55
52 Week Low
10/11/13 - $16.55
Market Cap
44.2M
Average Volume 10 Days
249.1
EPS TTM
$1.93
Shares Outstanding
2.3M
EX-Date
07/1/14
P/E TM
10.1x
Dividend
$0.60
Dividend Yield
2.77%
Current Stock Chart for SOUTHERN MICHIGAN BANCORP (SOMC)

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southern michigan bancorp (SOMC) Details

Southern Michigan Bancorp, Inc. operates as the bank holding company for Southern Michigan Bank & Trust, which provides commercial banking products and services to individuals, businesses, institutions, and government agencies in the southwest Michigan communities. The company accepts a range of deposit products, such as interest and non-interest checking, passbook savings, and money market accounts, as well as time deposits and certificates of deposit. It provides commercial and agricultural loans; commercial, residential, and construction real estate loans; and consumer loans. In addition, the company 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. It operates 15 banking offices in Battle Creek, Camden, Centreville, Coldwater, Constantine, Hillsdale, Marshall, Mendon, Tekonsha, Three Rivers, and Union City, Michigan. The company is headquartered in Coldwater, Michigan.

southern michigan bancorp (SOMC) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $150.3K
Director, Chairman of Southern and Southern M...
Total Annual Compensation: $277.2K
Director, Member of Executive Committee, Pres...
Total Annual Compensation: $231.0K
Compensation as of Fiscal Year 2012.

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, 2014

Southern Michigan Bancorp Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income of $1,146,000, or $0.48 per basic and diluted share, compared to net income of $1,079,000, or $0.45 per basic and diluted share, for the second quarter of 2013. Income before income taxes was $1,572,000 compared to $1,518,000 a year ago. Total interest income was $5,060,000 compared to $4,951,000 a year ago. Net interest income was $4,664,000 compared to $4,416,000 a year ago. For the six months, the company's net income increased 5.3% to $2,248,000, or $0.93 per diluted share, compared to net income of $2,134,000, or $0.89 per basic and diluted share, for the same six month period a year ago. Net charge offs totaled $227,000 or annualized 0.12% of loans for the six month period ending June 30, 2014, compared to $261,000 for the same six month period of 2013. The annualized return on average assets for the six month periods ended June 30, 2014 and 2013 was 0.81% and 0.80%, respectively. The annualized return on average equity was 7.74% for the first six months of 2014 compared to 7.65% for the same period of 2013. Shareholders are seeing these results positively impact their investment as Southern's stock price increased 7.3% or $1.29 per share during the twelve month period ending June 30, 2014. Income before income taxes was $3,083,000 compared to $2,900,000 a year ago. Total interest income was $10,057,000 compared to $9,821,000 a year ago. Net interest income was $9,198,000 compared to $8,703,000 a year ago.

Southern Michigan Bancorp, Inc. Announces Increase in Quarterly Dividend Payable in July 2014

At the Southern Michigan Bancorp Inc. annual meeting the board of directors approved an increase to the quarterly cash dividend from $0.13 per share to $0.15 per share payable in July 2014. The new annualized cash dividend of $0.60 per share represents a 3.33% dividend yield based on the current market price of $18.00 per share. The dividend will be payable July 18, 2014 to shareholders of record July 3, 2014.

Southern Michigan Bancorp, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014

Southern Michigan Bancorp Inc. reported earnings results for the first quarter ended March 31, 2014. Net income for the first quarter ended March 31, 2014 was $1.10 million, or $0.46 per share, compared to $1.05 million, or $0.44 per share, for the same quarter ended March 31, 2013. Net interest income for the first quarter ended March 31, 2014 was $4.53 million, compared to $4.29 million for the same quarter ended March 31, 2013. Income before income taxes for the first quarter ended March 31, 2014 was $1.51 million, compared to $1.38 million for the same quarter ended March 31, 2013.

 

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SOMC:US $19.50 USD -0.05

SOMC Competitors

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Company Last Change
ChoiceOne Financial Services Inc $20.05 USD -1.20
Citizens Community Bancorp Inc/WI $8.75 USD +0.05
Mackinac Financial Corp $11.01 USD -0.46
PSB Holdings Inc/WI $33.75 USD +0.20
United Bancorp Inc/OH $8.16 USD +0.16
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Industry Analysis

SOMC

Industry Average

Valuation SOMC Industry Range
Price/Earnings 10.2x
Price/Sales 1.9x
Price/Book 0.8x
Price/Cash Flow 10.1x
TEV/Sales 0.1x
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