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Southern Missouri Bancorp Inc (SMBC) maintains this dedicated news hub for investors and stakeholders tracking this community-focused regional bank. Access official press releases, financial filings, and strategic updates from the institution serving America's heartland since 1887.
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Southern Missouri Bancorp (NASDAQ: SMBC) reported preliminary net income of $12.0 million for Q2 FY2022, down $63,000 or 0.5% year-over-year. Earnings per share increased by 2.3% to $1.35, although down 5.6% from the previous quarter. Key metrics showed annualized return on assets at 1.69% and return on equity at 16.1%. Noninterest income decreased by 7.6% while net interest income rose by 6.5%. The company declared a quarterly dividend of $0.20, marking its 111th consecutive payment. Assets grew to $2.9 billion, highlighted by a significant increase in deposit balances.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) reported preliminary net income of $12.7 million for Q1 fiscal 2022, a 27.6% increase year-over-year. Earnings per share rose to $1.43, up 31.2% compared to the previous year. Key drivers included a rise in net interest income, partially offset by increased noninterest expenses. The return on average assets and equity improved to 1.87% and 17.7% respectively. Despite nonperforming assets slightly increasing to 0.31% of total assets, overall asset growth was noted with total assets reaching $2.7 billion.
Southern Missouri Bancorp (NASDAQ: SMBC) announced a merger agreement to acquire Fortune Financial Corporation, a stock and cash transaction valued at approximately $29.9 million. Fortune, with assets of $253.7 million, enhances Southern Missouri's footprint in the St. Louis MSA, increasing total assets to about $3 billion post-merger. The deal involves a stock exchange or cash payment for Fortune shareholders and expects an 8.8% earnings per share accretion in FY 2022. The transaction is anticipated to complete in early 2022, pending regulatory and shareholder approvals.
Southern Missouri Bancorp (SMBC) reported preliminary net income of $13.7 million for Q4 FY2021, a 98.3% increase from the previous year, mainly due to a negative provision for credit losses. Net income per diluted share rose to $1.53, up from $0.76. For the full fiscal year, net income reached $47.2 million, up 71.3%. The annualized return on average assets was 2.01%, and return on average equity was 19.8%. Noninterest income increased by 11.4%. The Board declared a 25% quarterly cash dividend, marking 109 consecutive quarters of dividends.
Southern Missouri Bancorp (NASDAQ: SMBC) reported a preliminary net income of $11.5 million for Q3 fiscal 2021, soaring 124.7% year-over-year. This translates to $1.27 per diluted share, up 130.9% from last year. Key drivers included increased net interest income, reduced provisions for credit losses, and enhanced noninterest income. Nonperforming assets decreased to 0.34% of total assets. The company declared a quarterly dividend of $0.16, marking the 108th consecutive dividend. Total assets reached $2.7 billion, up 7.5% year-over-year.
Southern Missouri Bancorp (NASDAQ: SMBC) reported a preliminary net income of $12.0 million for Q2 FY2021, a 56.1% increase year-over-year. Earnings per diluted share rose to $1.32, up 57.1% from last year. Key growth drivers included increased net interest income and noninterest income, which rose by 21.4% and 55.7% respectively. The net interest margin improved to 3.92%. However, credit loss provisions increased by 57.7%. The Board declared a quarterly dividend of $0.16, marking a 6.7% increase from the previous dividend.
Southern Missouri Bancorp, Inc. (SMBC) reported a preliminary net income of $10.0 million for Q1 FY2021, a 27.6% increase from the previous year. Earnings per share rose to $1.09, up 28.2%. This growth was driven by higher net interest and noninterest income, alongside a decrease in loan loss provisions. However, deposit balances fell by $16.8 million, and the net interest margin decreased to 3.73%. Nonperforming assets remained stable at 0.44% of total assets. The company declared a cash dividend of $0.15 for Q4.
Southern Missouri Bancorp (SMBC) reported a preliminary net income of $6.9 million for Q4 FY2020, an 8.7% decline from the previous year. This equates to $0.76 per diluted share, down from $0.81. For the full fiscal year, net income was $27.5 million, a decrease of 4.7%. The annualized return on average assets was 1.10%, and return on average common equity was 10.8%. Notably, provisions for loan losses surged by 242.1% to $1.9 million, attributed to increased watch status loans and COVID-19 uncertainties. The company’s total assets rose to $2.5 billion, with significant loan and deposit growth driven by PPP loans and recent acquisitions.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) has successfully completed its merger with Central Federal Bancshares, Inc. on May 22, 2020. Following this merger, Southern Missouri operates 48 banking facilities across Missouri, Illinois, and Arkansas. Each share of Central common stock has been exchanged for $15.90 in cash, totaling approximately $21.9 million. The combined entity will manage approximately $2.4 billion in assets, with expectations to enhance earnings per share within six months and tangible book value by the second year post-merger.
