Sturgis Bancorp, Inc. serves as a financial holding company for Sturgis Bank & Trust Company (the Bank), a state-chartered bank whose principal business is to accept savings deposit from the general public and make single family mortgage loans and to a lesser extent, consumer and commercial loans. The Bank's market area covers all of St. Joseph County and parts of Cass, Branch, Calhoun, Van Buren, Allegan, Hillsdale and Kalamazoo Counties. Loans and loans held for sale for the years ended December 31, 2003, 2002 and 2001 amounted to $216,849,239, $219,480,856 and $223,528,846, respectively. Cash and investment securities for the years 2003, 2002 and 2001 totaled $29,079,322, $39,767,645 and $28,801,672, respectively. Total deposits for the years 2003, 2002 and 2001 amounted to $199,920,213, $202,563,796 and $179,129,827, respectively.