Southern Michigan Bank & Trust is headquartered in Coldwater and is the 14th largest bank in the state of Michigan. It is also the 897th largest bank in the nation. It was established in 1872 and as of June of 2021, it had grown to 196 employees at 16 locations. Southern Michigan Bank & Trust has an A+ health rating.
I utilize this bank for my disabled sons checking and savings account, they always provide the best customer service. They greet us by name and always show infinite patience as he is very particular with his money. They are always willing to take the extra time and help him. We use their online site to pay most of our bills and I have had no problems accessing or using the site. It is well laid out and is easy to customize. Their ATMs are state of the art and convenient. Their fees are a little high but not out of the ordinary.
|FDIC Certificate #||5019|
|Return on Assets - YTD||1.21%|
|Return on Equity - YTD||12.2%|
|Annual Interest Income||$17.6MM|
|Assets and Liabilities|
|Assets||Q2 2021vs Q2 2020||$1.12B$911.2MM|
|Loans||Q2 2021vs Q2 2020||$694.2MM$628.9MM|
|Deposits||Q2 2021vs Q2 2020||$953.5MM$768.2MM|
|Equity Capital||Q2 2021vs Q2 2020||$118.0MM$95.4MM|
|Loan Loss Allowance||Q2 2021vs Q2 2020||$8.2MM$6.9MM|
|Unbacked Noncurrent Loans||Q2 2021vs Q2 2020||$1.5MM$834.00K|
|Real Estate Owned||Q2 2021vs Q2 2020||$0$25.00K|
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