STBI Sturgis Bancorp Inc. featured news, full reports, and detailed charts
Sturgis Bancorp Inc. (STBI/STBI.OB) Wrap Up:
Sturgis Bancorp, Inc. operates as the holding company of Sturgis Bank & Trust Company, which primarily engages in accepting savings deposits from the general public and making single family mortgage loans, as well as consumer and commercial loans. The bank’s savings programs include passbook and statement accounts, NOW accounts, Super NOW accounts, money-market accounts, and fixed-rate and fixed-term certificates of deposit. Its lending activities include mortgage loans on residential properties, mortgage loans on commercial properties, commercial nonmortgage loans, and consumer loans. The bank invests in various liquid assets, including short-term United States Treasury obligations and secu...Sturgis Bancorp Inc. (STBI:OTC Bulletin Board Market)
Snapshot of Sturgis Bancorp Inc. (STBI)
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OPEN
$7.35
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PREVIOUS CLOSE
$7.39
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DAY HIGH
$7.35
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DAY LOW
$7.30
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52 WEEK HIGH
01/22/09 - $9.00
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52 WEEK LOW
07/28/09 - $6.50
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MARKET CAP
14.8M
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AVERAGE VOLUME 3 mo
589.0
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DILUTED EPS TTM
$0.83
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SHARES OUTSTANDING
2.0M
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EX-DATE
11/25/09
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P/E TTM
8.9x
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DIVIDEND
$0.12
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DIVIDEND YIELD
1.63%
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| K = Thousands M = Millions B = Billions | ||
STBI Top Compensated Officers
Executives, Board Directors
Key developments for Sturgis Bancorp Inc. (STBI)
Sturgis Bancorp Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per common share, payable on December 15, 2009 to stockholders of record November 30, 2009.
Sturgis Bancorp Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $209,000 or $0.10 per share on net interest income of $2,481,000 against net income of $610,000 or $0.30 per share on net interest income of $2,577,000 in the same period of last year. Total interest income was $4,344,000 against $5,115,000 in the same period of last year. Income before income tax expense was $381,000 against $767,000 in the same period of last year. Return on average equity was 3.22% against 9.87% in the same period of last year. Return on average assets was 0.22% against 0.64% in the same period of last year. Net interest income decreased primarily due to the lower tax-equivalent net interest margin for the quarters to 2.90% in 2009 from 3.01% in 2008. For the nine months ended September 30, 2009, the company reported net income of $1,114,000 or $0.55 per share on net interest income of $7,318,000 against net income of $1,742,000 or $0.86 per share on net interest income of $7,696,000 in the same period of last year. Total interest income was $13,255,000 against $15,434,000 in the same period of last year. Income before income tax expense was $1,448,000 against $2,194,000 in the same period of last year. Return on average equity was 5.77% against 9.21% in the same period of last year. Return on average assets was 0.38% against 0.63% in the same period of last year. Net interest income decreased $378,000, primarily due to the lower tax-equivalent net interest margin of 2.80% in 2009 from 3.13% in 2008. Book value per share increased to $12.79 at September 30, 2009 from $12.76 at December 31, 2008. The company reported net charge-offs for the third quarter of 2009 were $442,000 compared to $6,000 a year ago.
Sturgis Bancorp Inc. announced the appointment of David L. Franks to the Board of Directors for Sturgis Bancorp Inc. and Sturgis Bank & Trust Company. David L. Franks, 49, is President/COO of Oak Press Solutions. Franks serves as a board member for Burr Oak Tool Inc., and associated international companies.
STBI Competitors
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| No competitor information is available for STBI. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | STBI | Industry Range |
| Price/Earnings | 8.9x |
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| Price/Sales | 1.1x |
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| Price/Book | 0.6x |
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| Price/Cash Flow | 8.8x |
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| TEV/Sales | NM | Not Meaningful |
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STBI transactions
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| No transactions in the last 6 months. | ||
More Recent News About Sturgis Bancorp Inc.
More news for STBI
Sturgis Bancorp, Inc. Announces Cash Dividend
STURGIS, Mich., Nov. 17 /PRNewswire-FirstCall/ -- Sturgis Bancorp, Inc. (OTC Bulletin Board: STBI - News) today announced that its Board of Directors has declared a cash dividend of $0.03 per common share, payable December 15, 2009 to stockholders of record November 30, 2009. In making this announcement, Eric L. Eishen, President and CEO, noted that the payment marks the 80th consecutive quarter that Sturgis Bancorp, Inc. or Sturgis Bank & Trust Company, its predecessor, has paid a cash dividend. The cash dividend was reduced from prior quarters to reflect the decrease in earnings and maintain internal dividend payout guidelines. President Eishen also stated, "In exceptionally good years we have declared special cash dividends to reward our shareholders. With the difficulty of the Michigan economy and the banking industry as a whole, we have determined this is a time to preserve and build capital levels. There is also uncertainty related to possible Regulatory changes that may be in play and their impact on capital levels. While the Bank exceeds the statutory definitions of well-capitalized and is adding to capital levels, we are uncertain of how this politically volatile time in the banking industry may impact capital requirements. The Bank intends to maintain its well-capitalized status and believes the reduction in the dividend is prudent at this time."Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company, and its subsidiaries Oakleaf Financial Services, Inc. and...Click here to read the whole Article (external link)
Sturgis Bancorp Reports Earnings for Q3 2009
STURGIS, Mich., Nov. 6 /PRNewswire-FirstCall/ -- Sturgis Bancorp, Inc. (OTC Bulletin Board: STBI - News) posted a 36.1% earnings decrease for the first nine months of 2009, compared to 2008, Eric L. Eishen, President and CEO, announced today. Key Highlights for the first nine months of 2009:First Nine Months of 2009 vs. 2008 - Net income for the nine months ended September 30, 2009 decreased 36.1% to $1,114,000, or $0.55 per share from $1,742,000, or $0.86 per share for 2008. Net interest income decreased $378,000, primarily due to the lower tax-equivalent net interest margin of 2.80% in 2009 from 3.13% in 2008. Average interest-earning assets increased to $353.5 million for the nine months ended September 30, 2009 from $330.0 million for the same period in 2008.Net charge-offs for the first nine months of 2009 were $702,000, compared to $107,000 a year ago. The Company provided $1.8 million for loan losses in the first nine months of 2009, compared to $268,000 in 2008. The increase in provision for loan losses recognizes the deterioration of economic market conditions, increasing the Bank's allowance for loan losses to 1.39% of total loans at September 30, 2009 from 1.00% at December 31, 2008.Noninterest income was $4.6 million for the first nine months of 2009, compared to $3.6 million for same period in 2008. The primary component of this increase was $1.2 million of realized gain on sale of available-for-sale mortgage-backed securities. Mortgage banking activities also in...Click here to read the whole Article (external link)