Southern Michigan Bank & Trust Thanks Outgoing CEO for His Service, Announces Search for New CEO

COLDWATER, Mich., Oct. 8, 2026  -- The board of directors of Southern Michigan Bancorp and Southern Michigan Bank & Trust, known collectively as Southern, expressed gratitude for the service of John Waldron, who has resigned as president and CEO of Southern, and announced plans to search for a new CEO.

Effective today, Board Chair John Castle and Board Vice Chair Kurt Miller have agreed to lead Southern as interim CEO and interim president, respectively. After decades in key leadership roles, Castle as CEO and Miller as president, Castle and Miller stepped away from day-to-day operations of Southern in June 2024 but have remained on the board actively advising the bank's strategic operations and continued growth and executive management team.

During Waldron's tenure with Southern, he:

  • Grew the Jackson market into one of the key profit centers for the bank.
  • Built a knowledgeable team to support the growth of the Jackson market.
  • Established Southern as a leader in the Jackson market.

"We appreciate John's many contributions to Southern and wish him well in his next chapter," Castle said. "In the coming weeks, we will launch a search for a new president and CEO who shares our commitment to community banking and to preserving and enhancing the tremendous culture Southern has built over the past 154 years.

"Our board remains committed to staying independent and true to our deep roots as a community bank. Kurt and I look forward to taking an active leadership role in Southern throughout the search process to identify the right candidate and ensure a successful start to their tenure."

Since its founding in 1872, Southern has grown into an organization with $1.69 billion in assets and 260 team members in 20 branches/offices across six counties serving customers with integrity and dedication. Southern actively gives back to the communities where its team lives and works, supporting nonprofits, municipalities, schools, community groups and service clubs with financial contributions and volunteer support.