Southern Michigan Bancorp Q1 FY26 net income rises 8.5% to $3.31 million

SOUTHERN MICHIGAN BANCORP INC

SOUTHERN MICHIGAN BANCORP INC

SOMC

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  • Southern Michigan Bancorp posted first-quarter 2026 net income of $3.31 million, up 8.5%, with EPS of $0.71.
  • Tax-equivalent net interest margin widened to 3.26% from 3.08%, while provision for credit losses climbed to $758,000 from $164,000.
  • Net loan charge-offs increased to $817,000 from $2,000, while non-performing loans eased to 0.90% of total loans from 0.98% at Dec. 31, 2025.
  • Loans reached $1.29 billion, while total deposits rose to $1.43 billion as total assets increased to $1.71 billion.
  • CEO John R. Waldron said results were solid, citing record loans, deposits and total assets as of March 31, 2026.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Southern Michigan Bancorp Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202604290740PRIMZONEFULLFEED9708792) on April 29, 2026, and is solely responsible for the information contained therein.

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