Sturgis Bancorp Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
October 15, 2019 at 08:51 pm
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Sturgis Bancorp Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced net interest income was USD 4.124 million compared to USD 3.746 million a year ago. Net income was USD 1.367 million compared to USD 1.257 million a year ago. Basic earnings per share was USD 0.65 compared to USD 0.6 a year ago. For the nine months, net interest income was USD 11.939 million compared to USD 10.759 million a year ago. Net income was USD 3.706 million compared to USD 3.168 million a year ago. Basic earnings per share was USD 1.76 compared to USD 1.51 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.