Southern Michigan Bank and Trustbenefits

Southern Michigan Bank and Trust's benefits plans covered 234 active participants in 2025, providing health · life · dental · vision · long-term disability · death benefits · other. Insurance premiums totaled $164,215. Insurance brokers and agents were paid $28,235 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 17.2% of premiums. That is $121 per covered person, below the median for employer plans that report broker pay. Broker pay fell 12% from $32,131 in 2024.