Southern Michigan Bancorp (OTCMKTS:SOMC) Posts Quarterly Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.59 EPS for the quarter, reports. The business had revenue of $12.04 million during the quarter. Southern Michigan Bancorp had a net margin of 13.62% and a return on equity of 11.33%.

Southern Michigan Bancorp Trading Up 1.2 %

OTCMKTS:SOMC opened at $17.00 on Friday. Southern Michigan Bancorp has a 12 month low of $15.15 and a 12 month high of $20.50. The firm has a market cap of $77.86 million, a price-to-earnings ratio of 7.30 and a beta of 0.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.45. The company’s 50 day moving average is $17.38 and its 200-day moving average is $16.69.

Southern Michigan Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, April 4th. This is a positive change from Southern Michigan Bancorp’s previous quarterly dividend of $0.14. Southern Michigan Bancorp’s dividend payout ratio (DPR) is presently 25.75%.

About Southern Michigan Bancorp

Southern Michigan Bancorp, Inc operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest Michigan communities. Its deposit products include interest and non-interest checking, savings, and various types of money market accounts; time, savings, and demand deposits; and certificates of deposit and IRAs.