Sturgis Bancorp (Sturgis Bancorp) Effective Interest Rate on Debt % : 31.69% (As of Mar. 2024)

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What is Sturgis Bancorp Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Sturgis Bancorp's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $17.54 Mil. Sturgis Bancorp's average total debt for the quarter that ended in Mar. 2024 was $55.35 Mil. Therefore, Sturgis Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 31.69%.

Sturgis Bancorp Effective Interest Rate on Debt % Historical Data

The historical data trend for Sturgis Bancorp's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sturgis Bancorp Effective Interest Rate on Debt % Chart

Sturgis Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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5.90

4.90

4.58

4.74

17.45

Sturgis Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															16.64	36.34	45.03	39.24	31.69

Competitive Comparison of Sturgis Bancorp's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Sturgis Bancorp's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Sturgis Bancorp's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Sturgis Bancorp's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Sturgis Bancorp's Effective Interest Rate on Debt % falls into.

Sturgis Bancorp Effective Interest Rate on Debt % Calculation

Sturgis Bancorp's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -12.267	/	( (85.755	+	54.836)	/ 2 )
=	-1 * -12.267	/	70.2955
=	17.45 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	85.755	+	0
=	85.755

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	54.836	+	0
=	54.836

Sturgis Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -17.54	/	( (54.836	+	55.857)	/ 2 )
=	-1 * -17.54	/	55.3465
=	31.69 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	54.836	+	0
=	54.836

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	55.857	+	0
=	55.857

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Sturgis Bancorp (OTCPK:STBI) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Sturgis Bancorp Effective Interest Rate on Debt % Related Terms

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Sturgis Bancorp (Sturgis Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Sturgis Bancorp Inc (OTCPK:STBI) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

113-125 East Chicago Road, Sturgis, MI, USA, 49091

Website

https://www.sturgis.bank

Sturgis Bancorp Inc operates as a bank holding company. Its primary services include accepting deposits, making commercial and mortgage loans, engaging in mortgage banking activities, and providing investment brokerage advisory services. The majority of the revenues come from interest income and other sources, including loans, leases, securities, and derivatives.

Executives

Eric L Eishen	director, officer: President/CEO	284 KRUSZKA, BRONSON MI 49091
David E Watters	officer: Vice President/Trust Officer	P O BOX 304, STURGIS MI 49091
Philip G Ward	director	1000 S LAKEVIEW, STURGIS MI 49091
Gary E Metz	officer: Vice President	P O BOX 344, CENTREVILLE MI 49032
Dresser Raymond H Jr	director	112 SOUTH MONROE STREET, STURGIS MI 49091
Leonard L Eishen	director	66002 KNOLLWOOD DRIVE, STURGIS MI 49091
Janet M Stahl	officer: Vice President	29601 WITT LAKE ROAD, STURGIS, STURGIS MI 49091