Sturgis Bancorp (Sturgis Bancorp) Credit Losses Provision : $5.69 Mil (As of Mar. 2024)

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What is Sturgis Bancorp Credit Losses Provision?

Sturgis Bancorp's credit losses provision for the three months ended in Mar. 2024 was $4.66 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $5.69 Mil.

Sturgis Bancorp's quarterly credit losses provision increased from Sep. 2023 ($-0.03 Mil) to Dec. 2023 ($1.08 Mil) and increased from Dec. 2023 ($1.08 Mil) to Mar. 2024 ($4.66 Mil).

Sturgis Bancorp's annual credit losses provision declined from Dec. 2021 ($1.07 Mil) to Dec. 2022 ($0.00 Mil) but then increased from Dec. 2022 ($0.00 Mil) to Dec. 2023 ($1.27 Mil).

Sturgis Bancorp Credit Losses Provision Historical Data

The historical data trend for Sturgis Bancorp's Credit Losses Provision 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 Credit Losses Provision Chart

Sturgis Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.28

2.90

1.07

1.27

Sturgis Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.27	-0.01	-0.03	1.08	4.66

Sturgis Bancorp Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $5.69 Mil.

Sturgis Bancorp (Sturgis Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Sturgis Bancorp Inc (OTCPK:STBI) » Definitions » Credit Losses Provision

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