Sturgis Bancorp, Inc. Reports Financial Results for Third Quarter 2024 [Yahoo! Finance]
STURGIS BANCORP INC (STBI)
NASDAQ:AMEX Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=4073840
Company Research
Source: Yahoo! Finance
Key Quarterly Highlights Net income was $1.5 million. Earnings per share of $0.72. Paid dividend of $0.17 per share. Total assets increased to $948 million. Deposits increased to $809 million. Credit quality remains strong, with 98.34% of loans performing according to loan agreements. The Bank maintained strong capital ratios, exceeding "well-capitalized" requirements, with Tier 1 leverage capital at 7.71%. From Jason J. Hyska, Sturgis Bancorp, Inc. Chief Executive Officer "This has been a challenging year for the Bank. The current economic environment and political climate seem to make for much uncertainty in all lines of business. The focus of management has been on closely monitoring credit quality and improving the margin. The focus of staff has been on acquiring new relationships while deepening relationships we already have. The Community bank model continues to be a resilient model that customers desire." Quarterly Income Statement Highlights Net income f
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