Sturgis Bancorp, Inc. Reports Financial Results for Third Quarter 2026
ACCESSWIRE•22/10/2026•10:02 ET
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Key Highlights
- ➤YTD net income $7.0 million, up from $5.4 million year-over-year
- ➤Third-quarter net income $2.5 million, versus $2.4 million year-over-year
- ➤YTD EPS $3.21, up from $2.52 in the prior year
- ➤Total deposits $952 million, up from $894 million year-over-year
- ➤Subordinated debt ended 3Q26 at $24.8 million after new issuance
- ➤Total assets $1.1 billion, up 7.22% year-over-year
Expert Statements
Jason J. Hyska, Chief Executive Officer of Sturgis Bancorp, Inc.
“The Bank had a solid third quarter. Earnings growth and tax equivalent net interest margin are up YTD 2026, compared to 2025, while credit quality remains on solid footing. Bancorp also completed a Subordinate Debt Raise that gave the Bank additional capital as we continue market expansion. The Bank recently purchased real estate for a new branch location in Paw Paw, Michigan that will help solidify our footprint in Van Buren County. We expect this full-service office to open late 2027. The Community Banking model is very much alive and well. The Bank will continue to strategically explore geographic areas where we believe a Community Bank can thrive and put the additional capital to work for our shareholders.”
STURGIS, MI / ACCESS Newswire / October 22, 2026 / Sturgis Bancorp, Inc. (OTCQX:STBI) today reported for the third quarter of 2026:
The Bank maintained strong capital ratios, exceeding well capitalized requirements, with Tier 1 leverage capital at 9.21%.
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