Sturgis Bancorp, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended March 31, 2018. For the quarter, the company reported net interest income was $3,658,000 against $3,163,000 a year ago. Income before income tax expense was $1,342,000 against $1,219,000 a year ago. Net income was $1,154,000 against $939,000 a year ago. Earnings per share were $0.55 against $0.45 a year ago. Return on average assets of 1.07% against 0.94% a year ago. Return on average equity of 11.98% against 10.55% a year ago.

For the six months, the company reported net interest income was $7,013,000 against $6,369,000 a year ago. The growth was primarily due to loan interest income. Income before income tax expense was $2,180,000 against $2,022,000 a year ago. Net income was $1,911,000 against $1,601,000 a year ago. Earnings per share were $0.91 against $0.77 a year ago. Return on average assets of 0.89% against 0.8% a year ago. Return on average equity of 10.07% against 9.12% a year ago.

Net charge-offs were $3,000 in the second quarter of 2018, compared to $24,000 in the second quarter of 2017.