Southern Michigan Bancorp, Inc. (SOMC) financial statements (2022 and earlier)

Company profile

Business Address 51 W PEARL ST
COLDWATER, MI 49036
State of Incorp. MI
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments50,334
Cash and cash equivalents50,334
Total current assets:50,334
Noncurrent Assets
Property, plant and equipment12,419
Intangible assets, net (including goodwill)14,763
Goodwill13,422
Intangible assets, net (excluding goodwill)1,341
Total noncurrent assets:27,182
Other undisclosed assets451,344
TOTAL ASSETS:528,860
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities474,225
Total liabilities:474,225
Temporary equity, carrying amount2,065
Stockholders' equity
Stockholders' equity attributable to parent54,635
Common stock5,627
Additional paid in capital17,700
Accumulated other comprehensive income297
Retained earnings31,046
Unearned esop shares(35)
Other undisclosed stockholders' equity(2,065)
Total stockholders' equity:52,570
TOTAL LIABILITIES AND EQUITY:528,860

Income statement (P&L) ($ in thousands)

12/31/2012
Cost of goods and services sold(923)
Amortization of mortgage servicing rights (msrs)367
Gross profit:(923)
Operating expenses(11,387)
Other operating income, net
(Noninterest Income, Other Operating Income)
770
Operating loss:(11,540)
Nonoperating income200
Losses on sales of other real estate(132)
Bank owned life insurance income332
Interest and debt expense(2,817)
Other undisclosed income from continuing operations before equity method investments, income taxes19,937
Income from continuing operations before income taxes:5,780
Income tax expense(1,430)
Net income available to common stockholders, diluted:4,350

Comprehensive Income ($ in thousands)

12/31/2012
Net income:4,350
Other comprehensive loss(274)
Comprehensive income, net of tax, attributable to parent:4,076

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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