Southern Missouri Bancorp, Inc. - SMBC STOCK NEWS

Southern Missouri Bancorp (NASDAQ: SMBC) reported Q1 fiscal 2025 net income of $12.5 million, down 5.3% year-over-year. Earnings per share decreased to $1.10 from $1.16, primarily due to higher provision for credit loss expense and increased non-interest expense. The company incurred a one-time cost of $840,000 for a performance improvement project. Key metrics include: net interest margin at 3.37%, loan growth of $116.7 million (3.0%) during Q1, and deposit growth of $97.1 million (2.5%). The Board declared a quarterly dividend of $0.23 per share.

Southern Missouri Bancorp (NASDAQ: SMBC) reported preliminary Q4 fiscal 2024 net income of $13.5 million, down 13% year-over-year. Earnings per share were $1.19, a decrease of $0.18. For the full fiscal year 2024, net income was $50.2 million, up $10.9 million from 2023, with EPS at $4.42.

Key highlights:

• Net interest margin: 3.25%, down from 3.60% year-ago
• Gross loans increased by $230.9 million (6.4%) in fiscal 2024
• Deposits increased by $226.9 million (6.1%) in fiscal 2024
• Quarterly cash dividend declared at $0.23 per share, up 9.5%

The company's balance sheet grew, with total assets reaching $4.6 billion, up 5.6% from June 30, 2023. The allowance for credit losses stood at 1.36% of gross loans.

Southern Missouri Bancorp, Inc. reported a significant increase in net income of $11.3 million for the third quarter of fiscal 2024, a 369% rise compared to the prior year. The increase was driven by reduced merger-related charges and growth in net interest income. Earnings per common share rose to $0.99, up 350% from the previous year. The company declared a dividend of $0.21 per common share and experienced balance sheet growth, with total assets reaching $4.6 billion. Nonperforming loans remained low, and the Company's efficiency ratio improved to 61.2%.

Southern Missouri Bancorp, Inc. announced preliminary net income for the second quarter of fiscal 2024 of $12.2 million, an increase of $529,000, or 4.5%, as compared to the same period of the prior fiscal year. The increase was attributable to increases in net interest income and noninterest income, and lower provision for credit losses and income taxes, partially offset by an increase in noninterest expense. Preliminary net income was $1.07 per fully diluted common share for the second quarter of fiscal 2024, a decrease of $0.19 as compared to the $1.26 per fully diluted common share reported for the same period of the prior fiscal year. Earnings per common share (diluted) were $1.07, down $0.19, or 15.1%, as compared to the same quarter a year ago, and down $0.09, or 7.8% from the first quarter of fiscal 2024, the linked quarter. Annualized return on average assets (“ROAA”) was 1.07%, while annualized return on average common equity was 10.6%, as compared to 1.35% and 14.2%, respectively, in the same quarter a year ago, and 1.20% and 11.7%, respectively, in the first quarter of fiscal 2024, the linked quarter.

Southern Missouri Bancorp reports preliminary net income of $13.2 million for Q1 2024, an increase of 36.9% compared to the same period last year. Earnings per common share (diluted) were $1.16, up 11.5% from a year ago. Net interest income increased by $6.9 million, or 24.2%. Noninterest expense was up 40.1% due to the Citizens merger. Gross loan balances increased by $80.8 million during the quarter. The Board of Directors declared a quarterly cash dividend of $0.21 per share.

Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) announced preliminary net income for Q4 of fiscal 2023, which increased by 18.9% to $15.6 million. The net interest income and noninterest income contributed to the increase, partially offset by higher noninterest expense. Full fiscal year 2023 net income decreased by $7.9 million to $39.2 million, with diluted EPS at $3.85, down from $5.21 in fiscal 2022. The company also declared a quarterly cash dividend of $0.21 per common stock.

Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) reported a preliminary net income of $11.7 million for Q2 FY 2023, down 2.7% year-over-year. Earnings per diluted share were $1.26, a decline of $0.09. This decrease is attributed to increased noninterest expenses and provisions for credit losses, despite a rise in net interest income (up 12.7% to $28.3 million) and noninterest income (up 3.2%). The merger with Fortune Financial Corporation contributed significantly to growth. The Board declared a $0.21 quarterly dividend, marking the 115th consecutive payment. Asset growth reached $3.5 billion, with total loans at $3.0 billion, reflecting strong loan activity.

Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) has successfully completed its merger with Citizens Bancshares Co., based in Kansas City, Missouri. This merger enhances Southern Missouri’s footprint, bringing its total banking facilities to 65 across Missouri, Kansas, Illinois, and Arkansas. Citizens Bank & Trust now operates as a subsidiary of Southern Missouri. Shareholders of Citizens will receive either 1.1755 shares of Southern Missouri stock or $54.93 in cash per share, with a total merger consideration of approximately $131.4 million. The merger will increase combined assets to about $4.4 billion, including $3.4 billion in loans.