Sturgis Bancorp Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	44.78	42.53	37.96	26.55	21.74
Interest Income on Investments	4.88	4.21	2.81	2.36	1.94
Total Interest Income	49.66	46.74	40.77	28.91	23.68
Interest Paid on Deposits	15.18	15.17	10.73	2.65	2.53
Interest Paid on Borrowings	1.9	3.55	1.54	1.84	1.59
Total Interest Expense	17.08	18.72	12.27	4.49	4.12
Net Interest Income	32.58	28.02	28.5	24.42	19.57
Net Interest Income Growth (YoY)	16.27%	-1.70%	16.70%	24.83%	9.66%
Trust Income	0.45	0.47	0.37	0.41	0.51
Mortgage Banking Activities	1.62	1.82	1.48	1.39	3.55
Gain (Loss) on Sale of Equity Investments	0.55	0.37	0.22	0.35	0.49
Other Non-Interest Income	6.83	7.35	6.78	4.9	5.09
Total Non-Interest Income	9.48	10.08	8.91	7.05	9.7
Non-Interest Income Growth (YoY)	-5.97%	13.15%	26.36%	-27.31%	3.93%
Revenues Before Loan Losses	42.05	38.1	37.41	31.47	29.26
Provision for Loan Losses	-0.38	4.59	1.27	-	1.07
Revenue	42.44	33.51	36.14	31.47	28.19
Revenue Growth (YoY)	26.63%	-7.27%	14.83%	11.65%	16.12%
Salaries and Employee Benefits	19.76	17.68	17.46	14.8	12.67
Occupancy Expenses	4.74	4.26	3.74	3.14	2.55
Federal Deposit Insurance	0.71	0.74	0.68	0.36	0.27
Selling, General & Administrative	3.01	2.73	2.24	1.36	1.82
Other Non-Interest Expense	5.03	4.95	4.87	3.81	3.2
Total Non-Interest Expense	33.24	30.35	28.98	23.48	20.51
EBT Excluding Unusual Items	9.19	3.16	7.16	7.99	7.68
Pretax Income	9.19	3.16	7.16	7.99	7.68
Income Tax Expense	1.74	0.32	1.14	1.37	1.33
Net Income	7.46	2.84	6.02	6.62	6.34
Net Income to Common	7.46	2.84	6.02	6.62	6.34
Net Income Growth	163.03%	-52.89%	-9.09%	4.35%	5.63%
Basic Shares Outstanding	2	2	2	2	2
Diluted Shares Outstanding	2	2	2	2	2
Shares Change (YoY)	0.64%	0.28%	0.29%	0.31%	0.66%
EPS (Basic)	3.45	1.32	2.81	3.10	2.98
EPS (Diluted)	3.45	1.32	2.81	3.10	2.98
EPS Growth	161.36%	-53.02%	-9.35%	4.03%	4.93%
Dividend Per Share	0.680	0.680	0.680	0.680	0.640
Dividend Growth	-	-	-	6.25%	-
Effective Tax Rate	18.89%	10.23%	15.91%	17.19%	17.34%

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