Southern Michigan Bancorp Q2 FY26 net income falls 4.7% to $3.09 million
SOMC•First-half performance
For the first half, net income edged up 1.7% to $6.39 million; return on average assets fell 6 basis points to 0.75%.
Second-quarter results
Southern Michigan Bancorp posted Q2 2026 net income of $3.09 million, down 4.7%.
- Diluted EPS slipped to $0.66; dividends declared rose to $0.17 per share.
- CEO John R. Waldron cited a $1.7 million other real estate owned write-down; the quarter had no required provision for credit losses.
- Tax-equivalent net interest margin widened 15 basis points to 3.35%; net loan charge-offs climbed to $837,000.
