Southern Michigan Bancorp Inc
Southern Michigan Bancorp, Inc. operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities. Its deposit products include interest and non-interest checking, savings, and various types of money market… Read more
Southern Michigan Bancorp Inc (SOMC) - Net Assets
Latest net assets as of September 2025: $117.78 Million USD
Based on the latest financial reports, Southern Michigan Bancorp Inc (SOMC) has net assets worth $117.78 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.67 Billion) and total liabilities ($1.55 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $117.78 Million |
| % of Total Assets | 7.07% |
| Annual Growth Rate | 6.25% |
| 5-Year Change | 15.32% |
| 10-Year Change | 58.22% |
| Growth Volatility | 9.37 |
Southern Michigan Bancorp Inc - Net Assets Trend (1995–2024)
This chart illustrates how Southern Michigan Bancorp Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Southern Michigan Bancorp Inc (1995–2024)
The table below shows the annual net assets of Southern Michigan Bancorp Inc from 1995 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $107.22 Million | +9.60% |
| 2023-12-31 | $97.83 Million | +13.54% |
| 2022-12-31 | $86.16 Million | -11.85% |
| 2021-12-31 | $97.75 Million | +5.13% |
| 2020-12-31 | $92.98 Million | +11.56% |
| 2019-12-31 | $83.34 Million | +10.35% |
| 2018-12-31 | $75.53 Million | +7.84% |
| 2017-12-31 | $70.04 Million | -0.13% |
| 2016-12-31 | $70.13 Million | +3.49% |
| 2015-12-31 | $67.77 Million | +7.30% |
| 2014-12-31 | $63.16 Million | +11.14% |
| 2013-12-31 | $56.83 Million | +4.01% |
| 2012-12-31 | $54.63 Million | +5.34% |
| 2011-12-31 | $51.87 Million | +8.41% |
| 2010-12-31 | $47.84 Million | +4.61% |
| 2009-12-31 | $45.73 Million | +2.97% |
| 2008-12-31 | $44.42 Million | +0.45% |
| 2007-12-31 | $44.22 Million | +44.37% |
| 2006-12-31 | $30.63 Million | +9.31% |
| 2005-12-31 | $28.02 Million | +2.02% |
| 2004-12-31 | $27.46 Million | +4.20% |
| 2003-12-31 | $26.36 Million | +5.97% |
| 2002-12-31 | $24.87 Million | -8.12% |
| 2001-12-31 | $27.07 Million | +5.38% |
| 2000-12-31 | $25.69 Million | +7.13% |
| 1999-12-31 | $23.98 Million | +20.30% |
| 1998-12-31 | $19.93 Million | -3.19% |
| 1997-12-31 | $20.59 Million | +4.97% |
| 1996-12-31 | $19.62 Million | +6.05% |
| 1995-12-31 | $18.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southern Michigan Bancorp Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 671.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $97.46 Million | 90.90% |
| Common Stock | $11.44 Million | 10.67% |
| Other Comprehensive Income | $-15.12 Million | -14.10% |
| Other Components | $13.44 Million | 12.53% |
| Total Equity | $107.22 Million | 100.00% |
Southern Michigan Bancorp Inc Competitors by Market Cap
The table below lists competitors of Southern Michigan Bancorp Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Loxley Public Company Limited
BK:LOXLEY
|
$56.12 Million |
|
Pang Rim Spinn
KO:003610
|
$56.13 Million |
|
KP Tissue Inc
PINK:KPTSF
|
$56.14 Million |
|
Villars Holding SA
SW:VILN
|
$56.15 Million |
|
BEST Inc
NYSE:BEST
|
$56.09 Million |
|
CLERHP Estructuras S.A
MC:CLR
|
$56.08 Million |
|
Shinil Electronics Co
KO:002700
|
$56.04 Million |
|
Honma Golf Limited
F:HF5
|
$56.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southern Michigan Bancorp Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 97,830,000 to 107,223,000, a change of 9,393,000 (9.6%).
- Net income of 10,402,000 contributed positively to equity growth.
- Dividend payments of 2,690,000 reduced retained earnings.
- Share repurchases of 599,000 reduced equity.
- Other comprehensive income increased equity by 1,319,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $10.40 Million | +9.7% |
| Dividends Paid | $2.69 Million | -2.51% |
| Share Repurchases | $599.00K | -0.56% |
| Other Comprehensive Income | $1.32 Million | +1.23% |
| Other Changes | $961.00K | +0.9% |
| Total Change | $- | 9.60% |
Book Value vs Market Value Analysis
This analysis compares Southern Michigan Bancorp Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.79x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 4.29x to 0.79x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $4.32 | $18.53 | x |
| 1996-12-31 | $4.50 | $18.53 | x |
| 1997-12-31 | $4.67 | $18.53 | x |
| 1998-12-31 | $4.13 | $18.53 | x |
| 1999-12-31 | $4.73 | $18.53 | x |
| 2000-12-31 | $5.98 | $18.53 | x |
| 2001-12-31 | $6.34 | $18.53 | x |
| 2002-12-31 | $6.31 | $18.53 | x |
| 2003-12-31 | $6.81 | $18.53 | x |
| 2004-12-31 | $7.11 | $18.53 | x |
| 2007-12-31 | $12.20 | $18.53 | x |
| 2008-12-31 | $9.74 | $18.53 | x |
| 2009-12-31 | $9.92 | $18.53 | x |
| 2010-12-31 | $10.35 | $18.53 | x |
| 2011-12-31 | $11.11 | $18.53 | x |
| 2012-12-31 | $11.53 | $18.53 | x |
| 2013-12-31 | $11.86 | $18.53 | x |
| 2014-12-31 | $13.12 | $18.53 | x |
| 2015-12-31 | $14.12 | $18.53 | x |
| 2016-12-31 | $14.59 | $18.53 | x |
| 2017-12-31 | $14.82 | $18.53 | x |
| 2018-12-31 | $16.33 | $18.53 | x |
| 2019-12-31 | $18.07 | $18.53 | x |
| 2020-12-31 | $20.19 | $18.53 | x |
| 2021-12-31 | $21.48 | $18.53 | x |
| 2022-12-31 | $18.96 | $18.53 | x |
| 2023-12-31 | $21.54 | $18.53 | x |
| 2024-12-31 | $23.52 | $18.53 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southern Michigan Bancorp Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.70%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.42%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 13.96x
- Recent ROE (9.70%) is below the historical average (10.48%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 14.14% | 32.16% | 0.04x | 11.35x | $765.24K |
| 1996 | 15.59% | 34.77% | 0.04x | 12.01x | $1.10 Million |
| 1997 | 14.73% | 29.65% | 0.04x | 11.58x | $973.00K |
| 1998 | 17.80% | 30.01% | 0.04x | 13.39x | $1.56 Million |
| 1999 | 16.51% | 14.30% | 0.08x | 13.80x | $1.30 Million |
| 2000 | 13.94% | 12.89% | 0.09x | 12.54x | $953.90K |
| 2001 | 10.74% | 10.69% | 0.08x | 12.41x | $189.30K |
| 2002 | 4.15% | 4.57% | 0.07x | 12.89x | $-1.45 Million |
| 2003 | 12.38% | 14.40% | 0.07x | 12.20x | $627.20K |
| 2004 | 13.12% | 17.24% | 0.07x | 11.41x | $857.50K |
| 2005 | 13.57% | 16.51% | 0.07x | 11.35x | $999.90K |
| 2006 | 13.09% | 15.69% | 0.08x | 10.77x | $946.00K |
| 2007 | 9.35% | 14.86% | 0.06x | 10.86x | $-288.90K |
| 2008 | 1.83% | 2.52% | 0.07x | 10.69x | $-3.63 Million |
| 2009 | 4.23% | 6.65% | 0.06x | 10.11x | $-2.64 Million |
| 2010 | 6.48% | 11.55% | 0.05x | 10.32x | $-1.69 Million |
| 2011 | 6.56% | 13.40% | 0.05x | 9.82x | $-1.78 Million |
| 2012 | 7.96% | 16.34% | 0.05x | 9.68x | $-1.11 Million |
| 2013 | 7.92% | 16.82% | 0.05x | 9.49x | $-1.18 Million |
| 2014 | 7.59% | 18.23% | 0.05x | 8.60x | $-1.52 Million |
| 2015 | 8.57% | 20.98% | 0.05x | 8.60x | $-970.90K |
| 2016 | 8.69% | 21.62% | 0.04x | 9.15x | $-916.10K |
| 2017 | 7.74% | 17.34% | 0.04x | 10.17x | $-1.58 Million |
| 2018 | 10.76% | 22.75% | 0.05x | 9.78x | $572.30K |
| 2019 | 10.34% | 21.44% | 0.05x | 9.74x | $287.50K |
| 2020 | 7.94% | 18.37% | 0.04x | 10.76x | $-1.91 Million |
| 2021 | 12.03% | 25.48% | 0.04x | 11.90x | $1.98 Million |
| 2022 | 15.66% | 26.19% | 0.04x | 14.84x | $4.87 Million |
| 2023 | 11.15% | 23.29% | 0.03x | 14.48x | $1.12 Million |
| 2024 | 9.70% | 21.42% | 0.03x | 13.96x | $-320.30K |
Industry Comparison
This section compares Southern Michigan Bancorp Inc's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southern Michigan Bancorp Inc (SOMC) | $117.78 Million | 14.14% | 13.14x | $56.12 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |