Call reports 2024
SOUTHERN MICHIGAN BANK & TRUST — 2024
What SOUTHERN MICHIGAN BANK & TRUST reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 1,474,685,000 | 1,454,053,000 | 1,507,340,000 | 1,495,551,000 |
| Total loans | 1,059,158,000 | 1,073,523,000 | 1,084,468,000 | 1,117,429,000 |
| Allowance for loan losses | 11,687,000 | 11,922,000 | 12,363,000 | 12,782,000 |
| Securities available for sale | 161,531,000 | 158,563,000 | 159,580,000 | 159,320,000 |
| Securities held to maturity | 60,864,000 | 65,052,000 | 60,129,000 | 60,454,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 1,215,898,000 | 1,209,935,000 | 1,271,520,000 | 1,259,172,000 |
| Interest-bearing deposits | 1,005,768,000 | 992,435,000 | 1,047,024,000 | 1,028,212,000 |
| Noninterest-bearing deposits | 210,130,000 | 217,500,000 | 224,496,000 | 230,960,000 |
| Equity capital | 125,708,000 | 128,247,000 | 133,354,000 | 133,707,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 18,475,000 | 37,204,000 | 56,705,000 | 76,005,000 |
| Interest expense | 8,042,000 | 16,411,000 | 25,145,000 | 33,421,000 |
| Net interest income | 10,433,000 | 20,793,000 | 31,560,000 | 42,584,000 |
| Noninterest income | 1,972,000 | 4,016,000 | 6,193,000 | 8,446,000 |
| Noninterest expense | 8,785,000 | 17,470,000 | 26,397,000 | 35,944,000 |
| Provision for loan losses | 0 | 236,000 | 686,000 | 1,112,000 |
| Pretax income | 3,620,000 | 7,103,000 | 10,695,000 | 14,072,000 |
| Income tax | 699,000 | 1,392,000 | 2,087,000 | 2,297,000 |
| Net income | 2,921,000 | 5,711,000 | 8,608,000 | 11,775,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 128,466,000 | 130,578,000 | 132,800,000 | 135,289,000 |
| Total capital | 140,579,000 | 142,926,000 | 145,564,000 | 148,399,000 |
| Risk-weighted assets | 1,123,015,000 | 1,139,346,000 | 1,156,901,000 | 1,177,296,000 |