Displaying items by tag: Southern Michigan Bank & Trust
Some of the smallest banks in Michigan’s market recorded the biggest growth rates in deposits during a recent 12-month period of the COVID-19 pandemic.
BALDWIN — A surge in deposits led a small community bank serving rural markets north of Grand Rapids to raise $15 million that will go to support growth and maintain regulated capital ratios.
Southern Michigan Bancorp, the parent company of Southern Michigan Bank & Trust, saw net income rise on a year-over-year basis in the second quarter.
A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.