Sturgis Bancorp Inc
OTCQX US Premier:STBI

  • LAST PRICE
    17.3000
  • TODAY'S CHANGE (%)
    0.0500 (0.2899%)
  • Bid / Lots
    17.2500/ 15
  • Ask / Lots
    18.0000/ 4
  • Open / Previous Close
    17.2500 / 17.2500
  • Day Range
    17.2275
    17.7500
  • 52 Week Range
    15.7375
    18.3000
  • Volume
    14,008

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  • Oct 18, 2024

      Show headlines and story abstract

    • 2:17PM ET on Friday Oct 18, 2024 by Accesswire
      Companies Mentioned: STBI

      STURGIS, MI / ACCESSWIRE / October 18, 2024 / Sturgis Bancorp, Inc. (OTCQX:STBI) today reported for the third quarter of 2024:

      Key Quarterly Highlights

      From Jason J. Hyska, Sturgis Bancorp, Inc. Chief Executive Officer

    • 2:17PM ET on Friday Oct 18, 2024 by Dow Jones
      Companies Mentioned: STBI

      CONSOLIDATED STATEMENTS OF INCOME

      (Unaudited - Amounts in thousands, except share and per share data)
      Three Months Ended Sep 30, Jun 30, Sep 30, 2024 2024 2023 3Q24 2Q24 3Q23 ------- ------- ------- Interest and dividend income Loans (including fees) $10,819 $10,524 $ 9,898 Investment securities: Taxable 906 804 545 Tax-exempt 39 39 70 Dividends 190 172 122 ------ ------ ------ Total interest and dividend income 11,954 11,539 10,635 Interest expense Deposits 3,686 3,777 3,062 Borrowed funds 1,233 922 293 ------ ------ ------ Total interest expense 4,919 4,699 3,355 ------ ------ ------ Net interest income 7,035 6,840 7,280 Credit loss expense (benefit) (28) 165 44 ------ ------ ------ Net interest income, after credit loss expense 7,063 6,675 7,236 Noninterest income Service charges on deposits and other fees 356 345 356 Interchange income 375 350 367 Investment brokerage commission income 646 641 635 Mortgage banking activitives 588 487 470 Trust fee income 97 166 42 Earnings on cash value of bank-owned life insurance 111 108 590 Gain on sale of real estate owned, net 47 26 36 ------ ------ ------ Gain on termination of interest rate swap - - 793 Proportionate net income from unconsolidated subsidiaries 100 61 100 Other income 47 15 38 Total noninterest income 2,367 2,199 3,427 Noninterest expenses Compensation and benefits 4,559 4,340 4,068 Occupancy and equipment 1,063 1,029 977 Interchange expenses 174 166 169 Data processing 318 287 273 Professional services 125 120 122 Advertising 223 213 183 FDIC premiums 176 197 185 Other expenses 933 945 943 ------ ------ ------ Total noninterest expenses 7,571 7,297 6,920 ------ ------ ------ Income (loss) before income tax expense (benefit) 1,859 1,577 3,743 Income tax expense (benefit) 316 280 618 ------ ------ ------ Net income (loss) $ 1,543 $ 1,297 $ 3,125 ====== ====== ====== Earnings (loss) per share $ 0.72 $ 0.60 $ 1.46 Dividends per share $ 0.17 $ 0.17 $ 0.17

    • 12:11PM ET on Friday Oct 18, 2024 by Dow Jones
      Companies Mentioned: STBI

      STURGIS, MI / ACCESSWIRE / October 18, 2024 / Sturgis Bancorp, Inc. (OTCQX:STBI) today announced that its Board of Directors has declared a cash dividend of $0.17 per common share, payable December 13, 2024, to stockholders of record at the close of business on November 15, 2024. This declaration continues the quarterly dividend at the highest level in the Company's history.

    • 12:10PM ET on Friday Oct 18, 2024 by Accesswire
      Companies Mentioned: STBI

      STURGIS, MI / ACCESSWIRE / October 18, 2024 / Sturgis Bancorp, Inc. (OTCQX:STBI) today announced that its Board of Directors has declared a cash dividend of $0.17 per common share, payable December 13, 2024, to stockholders of record at the close of business on November 15, 2024. This declaration continues the quarterly dividend at the highest level in the Company's history.

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