Southern Michigan Bancorp Q3 Net Income Rises 8% to $3.27 Million
Bitget2026/10/28 11:45- Southern Michigan Bancorp’s third-quarter 2026 net income rose 8% year over year to $3.27 million.
- Quarterly net interest income climbed 9% to $13.22 million, while non-interest expense increased 21% to $12.03 million year over year.
- Net loan charge-offs rose to $1.65 million for the first nine months of 2026 compared with the year-earlier period.
- Non-performing assets fell to 0.28% of total assets at September 30, 2026, from December 31, 2025.
- John H. Castle returned as interim CEO and Kurt Miller as interim president while the bank searches for permanent replacements.
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