Southern Michigan Bancorp
Income Statement
Last updated:
Income statement is a financial statement that shows how profitable a business was over a given reporting period presenting its revenue, expenses or net income. Southern Michigan Bancorp's past years’ income statements indicate that its last revenue has decreased compared to the previous period by 9% to $46,813,000. Profit margin reached 23%. Total operating expenses were $29,821,000.
Profit Margin
| 2014 | 24.66M | 4.79M | 19.43% |
|---|---|---|---|
| 2015 | 26.04M | 5.80M | 22.29% |
| 2016 | 26.34M | 6.09M | 23.14% |
| 2017 | 28.51M | 5.42M | 19.01% |
| 2018 | 31.21M | 8.12M | 26.03% |
| 2019 | 40.20M | 8.62M | 21.44% |
| 2020 | 40.19M | 7.38M | 18.37% |
| 2021 | 46.14M | 11.75M | 25.48% |
| 2022 | 51.51M | 13.49M | 26.19% |
| 2023 | 46.81M | 10.90M | 23.29% |
SOMC Income Statement (2014 – 2023)
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||
Revenue | 46.81M | 51.51M | 46.14M | 40.19M | 40.20M | 31.21M | 28.51M | 26.34M | 26.04M | 24.66M |
Cost of revenue | -26.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gross profit | 73.30M | 51.51M | 46.14M | 40.19M | 40.20M | 31.21M | 28.51M | 26.34M | 26.04M | 24.66M |
Operating exp. | ||||||||||
Research and development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Selling and marketing | 670K | 583K | 397K | 218K | 448K | 444K | 317K | 350K | 324K | 317K |
Total operating expenses | 29.82M | 6.66M | 6.12M | 4.95M | 5.46M | -21.65M | -20.04M | -18.11M | -18.29M | -18.06M |
Operating income | 16.99M | 16.44M | 14.45M | 8.82M | 10.34M | 9.56M | 8.46M | 8.23M | 7.75M | 6.60M |
Other income (expenses), net | -3.64M | 16.07M | 14.12M | -36K | 10.30M | 0 | -2.31M | 0 | -2.40M | -3.11M |
Income before tax | 13.34M | 16.07M | 14.12M | 8.78M | 10.30M | 9.56M | 8.46M | 8.23M | 7.75M | 6.60M |
Income tax expense | 2.44M | 2.58M | 2.36M | 1.40M | 1.68M | 1.43M | 3.04M | 2.13M | 1.95M | 1.81M |
Net income | 10.90M | 13.49M | 11.75M | 7.38M | 8.62M | 8.12M | 5.42M | 6.09M | 5.80M | 4.79M |
Earnings per share | ||||||||||
Basic EPS | 2.4 | 2.98 | 2.59 | 1.6 | 1.87 | 1.76 | 1.15 | 1.27 | 1.21 | 1 |
Diluted EPS | 2.4 | 2.97 | 2.58 | 1.6 | 1.87 | 1.76 | 1.15 | 1.27 | 1.21 | 1 |