Southern Michigan Bancorp Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	77.88	72.78	64.38	54.89	36.58	32.59
Interest Income on Investments	10.6	10.62	11.74	10.68	7.55	4.55
Total Interest Income	88.48	83.4	76.12	65.57	44.13	37.14
Interest Paid on Deposits	30.38	30.43	29.01	20.59	4.12	2.27
Interest Paid on Borrowings	6.16	5.48	6.02	5	1.91	1.55
Total Interest Expense	36.54	35.92	35.03	25.59	6.03	3.82
Net Interest Income	51.94	47.48	41.09	39.98	38.1	33.32
Net Interest Income Growth	13.56%	15.56%	2.77%	4.93%	14.36%	24.90%
Trust Income	3.83	3.22	2.74	2.42	2.26	2.27
Gain (Loss) on Sale of Assets	-0.18	-	-	-	-	0.01
Gain (Loss) on Sale of Investments	-	-	-0	-	-0.67	0.01
Other Non-Interest Income	3.86	3.75	3.39	3.34	3.66	3.16
Total Non-Interest Income	10.37	9.78	8.49	7.74	7.38	9.02
Non-Interest Income Growth	7.53%	15.14%	9.73%	4.85%	-18.14%	7.33%
Revenues Before Loan Losses	62.31	57.26	49.58	47.72	45.48	42.33
Provision for Loan Losses	2.09	3.2	1.01	0.95	0.28	1.5
Revenue	60.22	54.06	48.56	46.77	45.21	40.83
Revenue Growth	13.27%	11.32%	3.84%	3.45%	10.71%	25.74%
Salaries and Employee Benefits	23.65	22.18	20.77	18.7	16.97	15.06
Occupancy Expenses	2.6	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	11.12	10.57	9.4	9.31	7.41	7.24
Other Non-Interest Expense	4.65	3.74	3.43	2.82	2.7	2.52
Total Non-Interest Expense	45.29	39.67	36.43	33.42	29.13	26.71
EBT Excluding Unusual Items	14.93	14.39	12.14	13.35	16.07	14.12
Pretax Income	14.93	14.39	12.14	13.35	16.07	14.12
Income Tax Expense	2.35	2.18	1.74	2.44	2.58	2.36
Net Income	12.58	12.22	10.4	10.91	13.49	11.76
Net Income to Common	12.58	12.22	10.4	10.91	13.49	11.76
Net Income Growth	5.23%	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	1.74%	1.84%	0.38%	-0.08%	-0.14%	-1.18%
EPS (Basic)	2.71	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	3.45%	15.35%	-5.00%	-19.19%	15.12%	60.82%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.670	0.640	0.600	0.560	0.520	0.480
Dividend Growth	6.35%	6.67%	7.14%	7.69%	8.33%	4.35%
Effective Tax Rate	15.75%	15.12%	14.31%	18.30%	16.06%	16.73%