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

Southern Michigan Bancorp (OTCMKTS:SOMC) released its earnings results on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, Zacks reports. Southern Michigan Bancorp had a net margin of 13.08% and a return on equity of 10.54%.

Southern Michigan Bancorp Price Performance

SOMC stock opened at $27.90 on Thursday. The firm has a 50 day moving average price of $25.63 and a 200-day moving average price of $24.84. Southern Michigan Bancorp has a 52-week low of $18.25 and a 52-week high of $28.06. The firm has a market capitalization of $129.90 million, a price-to-earnings ratio of 10.61 and a beta of 0.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 0.95.

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.