Banks | Southern Michigan Bank & Trust

Southern Michigan Bank & Trust


Southern Michigan Bank & Trust is an FDIC insured institution headquartered at 45 W Pearl St, Coldwater, MI 49036.
It was founded in 1872 and has approximately $1 billion in assets. Customers can open an account at one of its 17 branches.

Deposit Rates - December 23, 2024

SAVINGS RATES APY MIN
Savings
0.01% $1 Compare
CD RATES APY MIN
6 Mo CD
0.10% $500 Compare
12 Mo CD
0.15% $500 Compare
18 Mo CD
0.15% $500 Compare
24 Mo CD
0.25% $500 Compare
30 Mo CD
0.25% $500 Compare
36 Mo CD
0.35% $500 Compare
48 Mo CD
0.45% $500 Compare
60 Mo CD
0.55% $500 Compare
MM RATES APY MIN
Money Market
0.01% $1,000 Compare
Money Market
0.01% $10,000 Compare
Money Market
0.05% $25,000 Compare

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 5019
Date Established 1872
Assets $ 1,454.05 million
Loans $ 1,061.60 million
Deposits $ 1,209.94 million
Capital $ 128.25 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 82.05 million
Interest-bearing balances $ 69.49 million
Total securities $ 223.62 million
Federal funds sold and reverse repurchase $ 0.25 million
Net loans and leases $ 1,061.60 million
Loan loss allowance $ 11.92 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 14.62 million
All other assets $ 35.71 million
     Total Assets $ 1,325.81 million

LIABILITIES
Total deposits $ 1,209.94 million
      Interest-bearing deposits $ 992.44 million
      Deposits held in domestic offices $ 1,209.94 million
      % insured (estimated) 64.52%
Federal funds purchased and repurchase agreements $ 0.88 million
Trading liabilities N.A.
Other borrowed funds $ 13.02 million
Subordinated debt N.A.
All other liabilities $ 8.91 millionn
      Total Liabilities $ 1,325.81 million
      Shareholders’ Equity $ 128.25 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 37.20 million
Total Interest Expense $ 16.41 million
Net interest income $ 20.79 million
Provision for loan and lease losses $ 0.24 million
Total non interest income $ 4.02 million
Total non interest expense $ 17.47 million
Pre-tax Net Operating Income $ 8.18 million

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Southern Michigan Bank & Trust Locations

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