SOUTHERN MICHIGAN BANCORP INC
Financials · State Commercial Banks · MI · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY12 | FY11 | FY10 | FY09 | FY08 | |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $1.0M | $748,000 | $3.1M | $1.9M | $813,000 |
| Total assets | $528.9M | $509.2M | $493.9M | $462.4M | $475.0M |
| Total liabilities | $474.2M | $457.4M | $446.0M | — | — |
| Equity | $54.6M | $51.9M | $47.8M | $45.7M | $44.4M |
| EPS (diluted) | $0.43 | $0.32 | $1.34 | $0.84 | $0.36 |
| Shares out. | 2.4M | 2.2M | 2.2M | — | — |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2012- Operating margin
- —
- Net margin
- —
- Return on equity
- 1.8%
- Return on assets
- 0.2%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 89.7%
- Debt / equity
- 8.68×
- Book value / share
- $22.99
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- 34.0%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2012- Accruals / assets
- −1.3%clean
- Piotroski F-Score
- 5/6mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 warning● 2 good- High leverage (liabilities > 70% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Fourthstone LlcPassive (13G)May 15, 2026
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Material events
SEC Form 8-K · most recent- Regulation FD disclosureDec 21, 2012
- Director / officer changeNov 21, 2012
- Regulation FD disclosureNov 15, 2012
- Regulation FD disclosure · Other material eventNov 1, 2012
- Results of operationsOct 26, 2012
- Regulation FD disclosureAug 9, 2012
- Results of operationsJul 27, 2012
- Regulation FD disclosureJun 20, 2012
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- SCHEDULE 13GMay 15, 2026
- DApr 26, 2021
- 10-KFORM 10-KMar 28, 2013
- 15-15DSOUTHERN MICHIGAN FORM 15-15DJan 3, 2013
- S-8 POSSOUTHERN MICHIGAN FORM S-8 POS (STOCK INCENTIVE PLAN OF 2005)Dec 31, 2012
- S-8 POSSOUTHERN MICHIGAN FORM S-8 POS (2000 STOCK OPTION PLAN)Dec 31, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KDec 21, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KNov 21, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KNov 15, 2012
- 10-QFORM 10-QNov 14, 2012
- S-3DPOSSOUTHERN MICHIGAN FORM S-3DPOSNov 1, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KNov 1, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KOct 26, 2012
- 10-QFORM 10-QAug 14, 2012
- 8-KSOUTHERN MICHIGAN FORM 8-KAug 9, 2012