Sturgis Bancorp, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
July 24, 2020 at 04:46 pm
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Sturgis Bancorp, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced net interest income was USD 4.172 million compared to USD 4.007 million a year ago. Net income was USD 1.355 million compared to USD 1.297 million a year ago. Basic earnings per share was USD 0.64 compared to USD 0.61 a year ago. For the half year, net interest income was USD 8.315 million compared to USD 7.816 million a year ago. Net income was USD 2.863 million compared to USD 2.339 million a year ago. Basic earnings per share was USD 1.35 compared to USD 1.11 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. 
