Southern Michigan Bank & Trust is headquartered in COLDWATER and is the 11th largest bank in the state of Michigan. It is also the 790th largest bank in the nation. It was established in 1872 and as of March of 2023, it had grown to 224 employees at 18 locations. Southern Michigan Bank & Trust has an A health rating.
Southern Michigan Bank
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.
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 5019 |
| Year Established | 1872 |
| Employees | 224 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 12.09% |
| Annual Interest Income | $14.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $1.32B$1.22B |
| Loans | Q1 2023vs Q1 2022 | $922.5MM$756.2MM |
| Deposits | Q1 2023vs Q1 2022 | $1.14B$1.07B |
| Equity Capital | Q1 2023vs Q1 2022 | $113.2MM$109.7MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $11.0MM$9.3MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $1.0MM$1.3MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |
