Southern Michigan Bancorp, Inc. (SOMC)

Southern Michigan Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Income on Loans	75.17	72.78	64.38	54.89	36.58	32.59
Interest Income on Investments	10.63	10.62	11.74	10.68	7.55	4.55
Total Interest Income	85.8	83.4	76.12	65.57	44.13	37.14
Interest Paid on Deposits	30.79	30.43	29.01	20.59	4.12	2.27
Interest Paid on Borrowings	5.62	5.48	6.02	5	1.91	1.55
Total Interest Expense	36.41	35.92	35.03	25.59	6.03	3.82
Net Interest Income	49.39	47.48	41.09	39.98	38.1	33.32
Net Interest Income Growth (YoY)	17.77%	15.56%	2.77%	4.93%	14.36%	24.90%
Trust Income	3.41	3.22	2.74	2.42	2.26	2.27
Gain (Loss) on Sale of Assets	-	-	-	-	-	0.01
Gain (Loss) on Sale of Investments	-	-	-0	-	-0.67	0.01
Other Non-Interest Income	3.68	3.75	3.39	3.34	3.66	3.16
Total Non-Interest Income	9.91	9.78	8.49	7.74	7.38	9.02
Non-Interest Income Growth (YoY)	11.66%	15.14%	9.73%	4.85%	-18.14%	7.33%
Revenues Before Loan Losses	59.3	57.26	49.58	47.72	45.48	42.33
Provision for Loan Losses	3.79	3.2	1.01	0.95	0.28	1.5
Revenue	55.51	54.06	48.56	46.77	45.21	40.83
Revenue Growth (YoY)	11.83%	11.32%	3.84%	3.45%	10.71%	25.74%
Salaries and Employee Benefits	22.79	22.18	20.77	18.7	16.97	15.06
Occupancy Expenses	2.5	2.44	2.05	1.81	1.68	1.57
Amortization of Goodwill & Intangibles	0.75	0.75	0.77	0.78	0.38	0.33
Selling, General & Administrative	10.74	10.57	9.4	9.31	7.41	7.24
Other Non-Interest Expense	4.05	3.74	3.43	2.82	2.7	2.52
Total Non-Interest Expense	40.83	39.67	36.43	33.42	29.13	26.71
EBT Excluding Unusual Items	14.69	14.39	12.14	13.35	16.07	14.12
Pretax Income	14.69	14.39	12.14	13.35	16.07	14.12
Income Tax Expense	2.21	2.18	1.74	2.44	2.58	2.36
Net Income	12.48	12.22	10.4	10.91	13.49	11.76
Net Income to Common	12.48	12.22	10.4	10.91	13.49	11.76
Net Income Growth	15.83%	17.43%	-4.61%	-19.17%	14.75%	59.18%
Basic Shares Outstanding	5	5	5	5	5	5
Diluted Shares Outstanding	5	5	5	5	5	5
Shares Change (YoY)	1.64%	1.84%	0.38%	-0.08%	-0.14%	-1.18%
EPS (Basic)	2.70	2.65	2.28	2.40	2.98	2.59
EPS (Diluted)	2.68	2.63	2.28	2.40	2.97	2.58
EPS Growth	14.00%	15.35%	-5.00%	-19.19%	15.12%	60.82%
Dividend Per Share	0.650	0.640	0.600	0.560	0.520	0.480
Dividend Growth	6.56%	6.67%	7.14%	7.69%	8.33%	4.35%
Effective Tax Rate	15.06%	15.12%	14.31%	18.30%	16.06%	16.73%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.