Sturgis Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 22, 2020 at 06:50 pm
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Sturgis Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 4.102 million compared to USD 3.815 million a year ago. Net income was USD 1.221 million compared to USD 1.205 million a year ago. Basic earnings per share was USD 0.58 compared to USD 0.57 a year ago. For the full year, net interest income was USD 16.041 million compared to USD 14.574 million a year ago. Net income was USD 4.927 million compared to USD 4.373 million a year ago. Basic earnings per share was USD 2.34 compared to USD 2.08 a year ago.
Sturgis Bancorp, Inc. is the holding company for Sturgis Bank & Trust Company (Bank), and its subsidiaries Oakleaf Financial Services, Inc., Oak Mortgage, LLC, Ayres/Oak Insurance, and Oak Title Services. The Bank provides an array of trust, commercial and consumer banking services from banking centers in Sturgis, Bangor, Bronson, Centreville, Climax, Colon, Niles, Portage, South Haven, St. Joseph, Three Rivers and White Pigeon, MI. Oakleaf Financial Services, Inc., offers a range of investment and financial-advisory services. Oak Mortgage, LLC offers residential mortgages in all markets of the Bank. Ayres/Oak Insurance offers various competitive commercial and consumer insurance products. Oak Title Services offers commercial and consumer title insurance. The Bank offers a range of personal banking, business banking, Internet banking and wealth management services.
STURGIS BANCORP, INC. 
