Call reports 2023
STURGIS BANK & TRUST COMPANY — 2023
What STURGIS BANK & TRUST COMPANY reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 874,006,000 | 894,630,000 | 897,490,000 | 918,933,000 |
| Total loans | 715,332,000 | 739,406,000 | 746,723,000 | 751,919,000 |
| Allowance for loan losses | 9,001,000 | 9,176,000 | 9,194,000 | 10,198,000 |
| Securities available for sale | 63,435,000 | 53,477,000 | 50,078,000 | 52,658,000 |
| Securities held to maturity | 21,640,000 | 21,375,000 | 21,104,000 | 20,866,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 789,888,000 | 796,616,000 | 809,819,000 | 799,291,000 |
| Interest-bearing deposits | 630,904,000 | 636,659,000 | 652,558,000 | 639,039,000 |
| Noninterest-bearing deposits | 158,984,000 | 159,957,000 | 157,261,000 | 160,252,000 |
| Equity capital | 66,959,000 | 68,699,000 | 69,942,000 | 69,716,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 9,483,000 | 19,435,000 | 30,109,000 | 40,933,000 |
| Interest expense | 2,094,000 | 4,593,000 | 7,738,000 | 11,434,000 |
| Net interest income | 7,389,000 | 14,842,000 | 22,371,000 | 29,499,000 |
| Noninterest income | 1,664,000 | 3,427,000 | 6,805,000 | 8,695,000 |
| Noninterest expense | 6,519,000 | 13,078,000 | 19,749,000 | 26,686,000 |
| Provision for loan losses | 259,000 | 199,000 | 209,000 | 1,275,000 |
| Pretax income | 2,267,000 | 4,826,000 | 9,017,000 | 10,106,000 |
| Income tax | 412,000 | 892,000 | 1,604,000 | 1,758,000 |
| Net income | 1,855,000 | 3,934,000 | 7,413,000 | 8,348,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 70,185,000 | 71,306,000 | 74,329,000 | 73,181,000 |
| Total capital | 77,975,000 | 79,271,000 | 82,312,000 | 81,395,000 |
| Risk-weighted assets | 634,037,000 | 651,540,000 | 653,700,000 | 656,350,000 |