Southern Michigan Bancorp, Inc. Announces Second Quarter 2026 Earnings

COLDWATER, Mich., July 29, 2026 (GLOBE NEWSWIRE) -- Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) announced second quarter 2026 net income of $3,087,000, or $0.66 per share, a decrease of $151,000, or 4.7%, compared to net income of $3,238,000, or $0.70 per share, for the second quarter of 2025. For the first six months of 2026, Southern earned $6,393,000, or $1.37 per share, an increase of $109,000, or 1.7%, compared to net income of $6,284,000, or $1.36 per share, for the same six-month period one year ago.

The annualized return on average assets for the six-month periods ended June 30, 2026, and June 30, 2025, was 0.75% and 0.81%, respectively. The annualized return on average equity was 10.24% for the first six months of 2026 compared to 11.31% for the first six months of 2025. The tax equivalent net interest margin for the six-month period ending June 30, 2026 was 3.35% compared to 3.20% for the same period of 2025.