UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 20, 2012
SOUTHERN MICHIGAN BANCORP, INC.
(Exact Name of Registrant as
Specified in Charter)
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Michigan |
000-49722 |
38-2407501 |
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51 West Pearl Street |
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Registrant's telephone number,
including area code: (517) 279-5500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Item 7.01. |
Regulation FD Disclosure. |
On June 20, 2012, Southern Michigan Bancorp, Inc. issued the press release furnished with this report as Exhibit 99.1, in which it announced a quarterly cash dividend of $0.09 per share payable July 20, 2012 to shareholders of record as of July 6, 2012. The $0.09 per share dividend is an increase of $0.02 per share over the April 2012 cash dividend payment of $0.07, and an increase of $0.04 per share over the January 2012 cash dividend payment of $0.05. Exhibit 99.1 is here incorporated by reference. This Report and the Exhibit are furnished to, and not filed with, the Commission.
Item 9.01. |
Financial Statements and Exhibits. |
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(d) |
Exhibits: |
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99.1 |
Press Release dated June 20, 2012. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: June 20, 2012 |
SOUTHERN MICHIGAN BANCORP, INC. |
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By |
/s/ Danice L. Chartrand |
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Danice L. Chartrand |
EXHIBIT 99.1
SOUTHERN MICHIGAN BANCORP, INC.
51 West Pearl Street
Coldwater, Michigan 49036
FOR IMMEDIATE RELEASE
CONTACT: John H. Castle, CEO
(517) 279-5500
SOUTHERN MICHIGAN BANCORP, INC. ANNOUNCES INCREASE IN QUARTERLY DIVIDEND
Coldwater, Michigan, June 20, 2012: Southern Michigan Bancorp, Inc. (OTCBB: SOMC.OB) announced that the board of directors approved a quarterly cash dividend of $0.09 per share payable July 20, 2012 to shareholders of record as of July 6, 2012. The $0.09 per share dividend is an increase of $0.02 per share over the April 2012 cash dividend payment of $0.07 and an increase of $0.04 per share over the January 2012 cash dividend.
John H. Castle, Chairman and Chief Executive Officer of Southern Michigan Bancorp, Inc., stated, "Our board continues to evaluate various balance sheet and performance metrics in determining the appropriate level of shareholder dividends, and we are pleased that our solid operating performance supports additional increases to the quarterly dividend."
Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 15 branches within Branch, Calhoun, Hillsdale and St. Joseph Counties, providing a broad range of consumer, business and wealth management services throughout the region.
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This press release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy, and Southern Michigan Bancorp, Inc. Forward-looking statements are identifiable by words or phrases such as "continues," "evaluate" and other similar words or phrases. Although we currently expect to continue to pay a quarterly cash dividend, each future dividend will be considered and declared by the board of directors in its discretion. Whether the board of directors continues to declare dividends depends on a number of factors, including our future financial condition and profitability. Forward-looking statements are based upon current beliefs and expectations and involve substantial risks, uncertainties and assumptions ("risk factors"), which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to update or revise our forward-looking statements to reflect developments that occur or information obtained after the date of this report.
Risk factors include, but are not limited to, the risk factors described in "Item 1A - Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2011. These and other factors are representative of the risk factors that may emerge and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.