Southern Michigan Bancorp, Inc. (SOMC)

Southern Michigan Bancorp Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	59.43	69.5	73.09	75.7	117.85	98.03
Investment Securities	229.36	187.67	179.9	187.91	187.04	159.69
Trading Asset Securities	-	0.36	0.33	0.45	0.92	1.6
Mortgage-Backed Securities	-	40.9	51.84	60.4	59.38	49.37
Total Investments	229.36	228.93	232.07	248.76	247.34	210.65
Gross Loans	1,193	1,116	1,036	886.63	741.41	635.87
Allowance for Loan Losses	-13.22	-12.78	-11.7	-9.59	-9.32	-7.79
Net Loans	1,180	1,104	1,025	877.04	732.09	628.08
Property, Plant & Equipment	25.5	28.64	26.14	19.85	15.76	16.44
Goodwill	13.42	13.42	13.42	13.42	13.42	13.42
Other Intangible Assets	0.09	0.11	0.15	0.18	0.22	0.26
Loans Held for Sale	0.18	1	0.17	-	1.15	1.69
Accrued Interest Receivable	-	7.67	6.66	5.54	4.19	4.75
Restricted Cash	-	-	-	1.81	1.81	1.81
Long-Term Deferred Tax Assets	-	7.85	7.91	9.11	3	1.71
Other Long-Term Assets	63.11	30.93	26.74	22.42	22.3	18.71
Total Assets	1,571	1,497	1,415	1,277	1,161	997.57
Accrued Expenses	19.96	8.45	6	3.69	4.53	7.63
Interest Bearing Deposits	1,071	881.46	812.06	745.8	665.53	564.68
Institutional Deposits	-	146.76	119.74	76.55	45.85	52.83
Non-Interest Bearing Deposits	233.37	223.58	226.18	268.7	262.98	220.79
Total Deposits	1,304	1,252	1,158	1,091	974.35	838.3
Short-Term Borrowings	0.82	1.56	1.74	11.18	20.61	20.08
Current Portion of Long-Term Debt	-	-	-	20	-	-
Current Portion of Leases	-	0.3	-	-	-	-
Long-Term Debt	34.76	29.93	88.99	29.88	30.27	8.1
Federal Home Loan Bank Debt, Long-Term	97.9	82.9	47.9	20	20	20
Long-Term Leases	-	2.99	3.25	3.49	2.8	-
Trust Preferred Securities	-	5.16	5	5.16	5.16	5.16
Pension & Post-Retirement Benefits	-	1.96	2.04	2.12	2.15	2.01
Other Long-Term Liabilities	-	4.29	4.08	3.8	3.54	3.32
Total Liabilities	1,458	1,389	1,317	1,190	1,063	904.6
Common Stock	11.57	11.44	11.33	11.29	11.29	5.75
Additional Paid-In Capital	13.77	13.44	13.13	14.07	14.24	15.42
Retained Earnings	102.26	97.46	89.81	82.71	71.58	67.74
Comprehensive Income & Other	-13.89	-15.12	-16.43	-21.9	0.65	4.07
Shareholders' Equity	113.71	107.22	97.83	86.16	97.75	92.98
Total Liabilities & Equity	1,571	1,497	1,415	1,277	1,161	997.57
Total Debt	133.47	122.83	146.87	89.7	78.84	53.34
Net Cash (Debt)	-74.04	-48.48	-73.45	-13.55	39.93	46.29
Net Cash Growth	-	-	-	-	-13.75%	565.61%
Net Cash Per Share	-16.09	-10.63	-16.17	-2.98	8.77	10.05
Filing Date Shares Outstanding	4.63	4.57	4.52	4.58	4.53	4.57
Total Common Shares Outstanding	4.63	4.58	4.53	4.52	4.51	4.59
Book Value Per Share	24.57	23.43	21.58	19.07	21.69	20.27
Tangible Book Value	100.2	93.69	84.26	72.56	84.11	79.3
Tangible Book Value Per Share	21.65	20.47	18.59	16.06	18.67	17.29

Updated Feb 14, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.