MARTINSVILLE, Ind., May 13, 2025 /PRNewswire/ -- The American Camp Association (ACA) is proud to announce a $500,000 grant initiative, made possible by the generous support of the Sumitomo Mitsui Banking Corporation (SMBC) Global Foundation, part of SMBC Group. The Camp-School Partnership Project will award one-year grants to qualifying nonprofit camps during the summers of 2025 and 2026.This initiative is designed to help camps expand their capacity to implement and sustain high-quality programming in coll ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-23406 Southern Missouri Bancorp, Inc. | (Exact name of registrant as specified in its charter) | | | --- | --- | | ...

Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) Q3 2025 Results Conference Call April 22, 2025 8:30 AM ET Company Participants Stefan Chkautovich - Chief Financial Officer Matthew Funke - President & Chief Administrative Officer Greg Steffens - Chairman & Chief Executive Officer Conference Call Participants Andrew Liesch - Piper Sandler Matt Olney - Stephens Kelly Motta - KBW Operator Hello, everyone, and thank you for joining the Southern Missouri Bancorp Earnings Conference Call. My name is Sammy, and I'll ...

分组1 - Southern Missouri Bancorp (SMBC) reported quarterly earnings of $1.39 per share, exceeding the Zacks Consensus Estimate of $1.31 per share, and up from $0.99 per share a year ago, representing an earnings surprise of 6.11% [1][2] - The company achieved revenues of $46.15 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.50%, compared to $40.09 million in the same quarter last year [2] - Over the last four quarters, Southern Missouri Bancorp has exceeded consensus EPS estimates three times and topped consensus revenue estimates four times [2] 分组2 - The stock has underperformed the market, losing about 14.2% since the beginning of the year, while the S&P 500 declined by 10.2% [3] - The company's earnings outlook is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $1.29 on revenues of $45.86 million, and for the current fiscal year, it is $5.06 on revenues of $179.72 million [7] 分组3 - The Financial - Savings and Loan industry, to which Southern Missouri Bancorp belongs, is currently in the top 30% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Performance - Preliminary net income for Q3 fiscal 2025 was $15.7 million, an increase of $4.4 million or 38.7% year-over-year, resulting in earnings per diluted share of $1.39, up $0.40 or 40.4% from the same quarter last year[1][2]. - Annualized return on average assets (ROA) was 1.27% and return on average common equity (ROE) was 12.1%, compared to 0.99% and 9.5% respectively in the same quarter last year[2]. - Noninterest income for the three-month period ended March 31, 2025, was $6.7 million, an increase of $1.1 million, or 19.4%, year-over-year[20]. - Net income available to common shareholders increased to $15,612,000 in Q1 2025, up from $14,592,000 in Q4 2024, representing an increase of 7%[27]. - Basic earnings per common share for Q1 2025 was $1.39, up from $1.30 in Q4 2024, an increase of 6.9%[27]. Asset and Liability Management - Total assets reached $5.0 billion, reflecting an increase of $372.2 million or 8.1% compared to June 30, 2024[6]. - Total liabilities were $4.4 billion, an increase of $332.1 million or 8.1% compared to June 30, 2024[14]. - Total deposits reached $4.3 billion as of March 31, 2025, an increase of $318.3 million, or 8.1%, compared to June 30, 2024[15]. - Total assets increased to $4,976,496 thousand as of March 31, 2025, up from $4,907,674 thousand at December 31, 2024, representing a growth of 1.4%[26]. - Total liabilities increased to $4,447,706 thousand from $4,395,303 thousand, reflecting a growth of 1.2%[26]. Interest Income and Margin - Net interest margin for the quarter was 3.39%, up from 3.15% year-over-year, with net interest income increasing by $5.0 million or 14.4% compared to the same quarter last year[2]. - Net interest income for the three-month period ended March 31, 2025, was $39.5 million, an increase of $5.0 million, or 14.4%, year-over-year[17]. - The net interest margin expanded by 24 basis points to 3.39% compared to the same period last year, driven by a 16 basis point increase in yield on interest-earning assets[17]. - Total interest income for Q1 2025 was $69,925,000, an increase of 0.72% from $69,424,000 in Q4 2024[27]. - Net interest income rose to $39,479,000 in Q1 2025, compared to $38,143,000 in Q4 2024, reflecting a growth of 3.5%[27]. Credit Quality - Nonperforming loans (NPL) were $22.0 million or 0.55% of gross loans, up from $6.7 million or 0.17% at June 30, 2024[11]. - The allowance for credit losses (ACL) totaled $54.9 million, representing 1.37% of gross loans, compared to 1.36% at June 30, 2024[12]. - The provision for credit losses (PCL) was $932,000 for the three-month period ended March 31, 2025, compared to $900,000 in the same period last year[19]. - Nonperforming loans rose significantly to $21,970 thousand from $8,309 thousand in the previous quarter, reflecting an increase of 164.5%[26]. - Total nonperforming assets increased to $23,801 thousand, up from $10,769 thousand, marking a rise of 120.5%[26]. Shareholder Returns - The Board declared a quarterly cash dividend of $0.23 per common share, marking the 124th consecutive quarterly dividend[4]. - Dividends per common share remained stable at $0.23 for both Q1 2025 and Q4 2024[27]. - Stockholders' equity was $528.8 million at March 31, 2025, up $40.0 million, or 8.2%, from June 30, 2024[16]. - Book value per common share increased to $47.01 from $45.62, representing a growth of 3.1%[26]. Efficiency and Cost Management - Noninterest expense for the three-month period ended March 31, 2025, was $25.4 million, an increase of $342,000, or 1.4%, compared to the same period last year[21]. - The efficiency ratio improved to 55.1% for the three-month period ended March 31, 2025, down from 61.2% in the same period last year[22]. - The efficiency ratio improved to 55.1% in Q1 2025, down from 55.3% in Q4 2024, indicating better cost management[28]. Forward-Looking Statements - Forward-looking statements indicate potential risks including economic conditions, interest rate fluctuations, and integration challenges from recent acquisitions[24].

Core Viewpoint - Southern Missouri Bancorp, Inc. reported a preliminary net income of $15.7 million for the third quarter of fiscal 2025, reflecting a 38.7% increase compared to the same period last year, driven by higher net interest income and noninterest income [1] Financial Performance - Preliminary net income per fully diluted common share was $1.39, up from $0.99 in the same quarter of the previous fiscal year, marking a $0.40 increase [1] - Net interest income for the quarter was $39.5 million, an increase of $5.0 million or 14.4% year-over-year, attributed to a 6.2% rise in average interest-earning assets and a 24 basis point increase in net interest margin [17] - Noninterest income rose to $6.7 million, a 19.4% increase compared to the same quarter last year, primarily due to losses on the sale of available-for-sale securities [20] Balance Sheet Highlights - Total assets reached $5.0 billion, an increase of $372.2 million or 8.1% from June 30, 2024, driven by growth in net loans receivable, cash equivalents, and available-for-sale securities [5] - Total liabilities were $4.4 billion, reflecting an increase of $332.1 million or 8.1% compared to June 30, 2024, mainly due to higher deposits [13] - Deposits increased to $4.3 billion, up $318.3 million or 8.1% from June 30, 2024, with significant growth in certificates of deposit and savings accounts [14] Loan and Deposit Trends - Gross loans were $4.0 billion, a 4.5% increase from June 30, 2024, with notable growth in various loan categories including residential and commercial real estate [8] - Cash equivalents and time deposits totaled $227.1 million, a significant increase of 270.0% compared to June 30, 2024, driven by strong deposit generation [7] Nonperforming Loans and Credit Losses - Nonperforming loans (NPL) were $22.0 million, or 0.55% of gross loans, up from $6.7 million or 0.17% at June 30, 2024, primarily due to new commercial relationships and specific loans becoming nonperforming [11] - The allowance for credit losses (ACL) was $54.9 million, representing 1.37% of gross loans, with a provision for credit loss of $932,000 recorded for the quarter [12][19] Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.23 per common share, marking the 124th consecutive quarterly dividend, payable on May 30, 2025 [3]

Core Viewpoint - Southern Missouri Bancorp, Inc. has appointed Justin G. Cox as the Chief Banking Officer, effective May 1, 2025, to enhance customer engagement and organizational profitability [1][2]. Group 1: Leadership Changes - Justin G. Cox has been appointed to the newly-created position of Chief Banking Officer, effective May 1, 2025 [1]. - The decision to create this role follows recommendations from a community banking consulting firm aimed at improving customer engagement and team member satisfaction [2]. Group 2: Background of Justin G. Cox - Justin G. Cox has 22 years of experience in the banking industry, with 15 years at Southern Bank, where he has held various leadership roles [4]. - He has successfully led the west region team, contributing to the growth of the loan and deposit business [3]. Group 3: Company Overview - Southern Missouri Bancorp, Inc. operates Southern Bank, which has a total asset base of approximately $4.9 billion, including loans of $4.0 billion and deposits of $4.2 billion [5]. - Southern Bank operates 67 locations across Missouri, Arkansas, Illinois, and Kansas [5].

Financial Performance - Net income for the first six months of fiscal 2025 was $27.1 million, reflecting a 7.0% increase compared to the same period of the prior fiscal year [189]. - Net income for the three-month period ended December 31, 2024, was $14.7 million, an increase of $2.5 million, or 20.2%, compared to the same period last year [219]. - Net income for the six-month period ended December 31, 2024, was $27.1 million, an increase of $1.8 million, or 7.0% compared to the same period of the prior fiscal year [228]. - Fully-diluted net income per share available to common shareholders was $2.40, an increase of $0.17, or 7.6% compared to $2.23 for the same period of the prior fiscal year [229]. - Fully-diluted net income per share available to common shareholders was $1.30, up $0.23, or 21.5%, compared to the same quarter a year ago [220]. Asset Growth - Total assets increased by $303.4 million during the first six months of fiscal 2025, primarily due to a $175.0 million increase in net loans receivable [189]. - Total assets increased to $4.9 billion at December 31, 2024, reflecting a growth of $303.4 million, or 6.6%, compared to June 30, 2024 [198]. - Cash and cash equivalents rose to $145.8 million, an increase of $84.9 million, or 139.4%, from June 30, 2024, driven by strong deposit generation [199]. - Net loans, after accounting for the allowance for credit losses, reached $4.0 billion, up $175.0 million, or 4.6%, compared to June 30, 2024 [200]. - Deposits totaled $4.2 billion, an increase of $267.6 million, or 6.8%, from June 30, 2024, with significant growth in certificates of deposit and savings accounts [202]. Income and Expenses - Net interest income increased by $4.9 million, or 7.0%, while provision for credit losses rose by $1.3 million, or 71.7% [189]. - Noninterest income for the six-month period ended December 31, 2024, was $14.0 million, an increase of $2.5 million, or 22.2% [194]. - Noninterest expense increased by $3.2 million, or 6.6%, primarily due to higher compensation and benefits, legal and professional fees, and occupancy expenses [195]. - Noninterest income for the three-month period ended December 31, 2024, was $6.9 million, an increase of $1.2 million, or 21.7%, compared to the same period last year [224]. - Noninterest expense for the three-month period ended December 31, 2024, was $24.9 million, an increase of $1.0 million, or 4.3%, compared to the same period last year [225]. Credit Quality - Provision for credit losses was $932,000 for the three-month period ended December 31, 2024, compared to $900,000 in the same period last year [223]. - The allowance for credit losses at December 31, 2024, totaled $54.7 million, representing 1.36% of gross loans [240]. - The Company recorded net charge-offs of two basis points (annualized) during the current period, compared to seven basis points during the same period of the prior fiscal year [240]. - Total past due loans increased to $13.4 million at December 31, 2024, up from $9.2 million at June 30, 2024, primarily due to loans collateralized by 1-4 family real estate and agricultural real estate [245]. - Nonperforming assets totaled $10.8 million as of December 31, 2024, compared to $10.6 million at June 30, 2024, and $9.8 million at December 31, 2023 [248]. Capital and Liquidity - Stockholders' equity increased to $512.4 million, a rise of $23.6 million, or 4.8%, compared to June 30, 2024, primarily due to retained earnings [205]. - Total capital to risk-weighted assets ratio for the Company was 13.29% as of December 31, 2024, exceeding the required minimum of 8.00% [257]. - Tier 1 capital to average assets ratio for the Company was 10.42% as of December 31, 2024, above the required minimum of 4.00% [257]. - The Company believes its liquid resources will be sufficient to meet its liquidity needs [250]. Loan Origination and Portfolio - The Company originated $67.8 million in fixed-rate 1-to-4 family residential loans during the first six months of fiscal year 2025, compared to $62.5 million in the same period of the prior fiscal year, representing an increase of 4.2% [262]. - The fixed-rate 1-4 family residential loan portfolio was $631.3 million at December 31, 2024, up from $606.5 million at December 31, 2023, indicating a growth of 4.1% [262]. - The Company originated $197.5 million in fixed-rate commercial and commercial real estate loans during the six-month period ended December 31, 2024, compared to $151.4 million in the same period of the prior fiscal year, reflecting a significant increase of 30.5% [262]. - Adjustable-rate home equity lines of credit increased to $82.1 million at December 31, 2024, compared to $69.8 million at December 31, 2023, marking a growth of 17.0% [262]. Interest Rate Management - The interest rate spread improved to 2.79% for the three-month period ended December 31, 2024, compared to 2.69% for the same period in the prior fiscal year [207]. - The net interest margin increased to 3.36% for the three-month period ended December 31, 2024, up from 3.25% for the same period in the prior fiscal year [207]. - The average balance of interest-earning assets increased by 6.7%, and the net interest margin improved by 11 basis points, from 3.25% to 3.36% [221]. - The Company has focused on increasing originations of higher-yielding commercial loans while managing interest rate risk through various strategies [261]. - The Asset/Liability Committee meets monthly to review interest rate risk and trends, ensuring effective management of the Company's asset and liability policies [268].

Southern Missouri Bancorp (SMBC) came out with quarterly earnings of $1.30 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.69%. A quarter ago, it was expected that this bank holding company would post earnings of $1.11 per share when it actually produced earnings of $1.10, delivering a surprise of -0.90%.Over the last four ...

Financial Performance - Preliminary net income for Q2 fiscal 2025 was $14.7 million, a 20.2% increase from the same period last year, with earnings per diluted share rising to $1.30, up 21.5%[1][3] - Annualized return on average assets (ROAA) was 1.21% and return on average common equity was 11.5%, compared to 1.07% and 10.6% respectively in the same quarter last year[3] - Net interest income for the three-month period ended December 31, 2024, was $38.1 million, an increase of $3.7 million, or 10.6%, year-over-year[17] - Noninterest income for the same period was $6.9 million, an increase of $1.2 million, or 21.7%, compared to the prior fiscal year[20] - Net income for Q4 2024 was $14,653,000, representing a 17.5% increase compared to $12,458,000 in Q3 2024[27] - Basic earnings per common share increased to $1.30 in Q4 2024 from $1.10 in Q3 2024, reflecting an 18.2% growth[27] Asset and Liability Management - Total assets reached $4.9 billion, reflecting a growth of $303.4 million, or 6.6%, since June 30, 2024[6] - Total liabilities were $4.4 billion, an increase of $279.7 million, or 6.8%, compared to June 30, 2024[14] - Total deposits increased to $4.2 billion at December 31, 2024, up by $267.6 million, or 6.8%, from June 30, 2024[15] - Total assets as of December 31, 2024, were $4,825,469,000, up from $4,638,530,000 at the end of Q3 2024, indicating a 4.0% increase[28] Loan and Deposit Growth - Gross loan balances increased by $60.5 million, or 1.5%, from September 30, 2024, and by $295.1 million, or 7.9%, from December 31, 2023[3] - Deposit balances rose by $170.5 million, or 4.2%, compared to September 30, 2024, and by $225.1 million, or 5.6%, compared to December 31, 2023[3] - The average loan-to-deposit ratio for Q2 fiscal 2025 was 96.4%, compared to 96.3% for the previous quarter and 94.3% for the same period last year[15] - Average loans receivable increased to $3,989,643,000 in Q4 2024, up from $3,889,740,000 in Q3 2024, reflecting a growth of 2.6%[28] Nonperforming Loans and Credit Losses - Nonperforming loans (NPLs) were $8.3 million, or 0.21% of gross loans, an increase from $6.7 million, or 0.17%, at June 30, 2024[11] - Allowance for credit losses (ACL) was $54.7 million, representing 1.36% of gross loans, with a provision for credit loss required due to loan growth in Q2 fiscal 2025[12][13] - The provision for credit losses (PCL) was $932,000 for the three-month period ended December 31, 2024, compared to $900,000 in the same period last year[19] - Nonperforming assets decreased to $10,769 thousand, down from $12,069 thousand in the previous quarter, a reduction of 10.76%[26] - The ratio of total nonperforming assets to total assets improved to 0.22% from 0.26% in the prior quarter[26] - The allowance for credit losses to nonperforming loans ratio was 658.80%, indicating strong coverage of nonperforming loans[26] Operational Efficiency - Noninterest expense for the three-month period ended December 31, 2024, was $24.9 million, an increase of $1.0 million, or 4.3%, year-over-year[21] - The efficiency ratio improved to 55.3% for the three-month period ended December 31, 2024, down from 58.5% in the same period last year[22] - The efficiency ratio decreased to 55.3% in Q4 2024 from 59.0% in Q3 2024, indicating improved operational efficiency[28] Stockholder Information - The Board declared a quarterly cash dividend of $0.23 per common share, marking the 123rd consecutive quarterly dividend[4] - The Company's stockholders' equity was $512.4 million at December 31, 2024, an increase of $23.6 million, or 4.8%, from June 30, 2024[16] - Total stockholders' equity rose to $508,153,000 in Q4 2024, compared to $496,889,000 in Q3 2024, marking a 2.5% increase[28] - Book value per common share increased to $45.62 from $45.06, a rise of 1.24%[26] - Tangible book value per common share improved to $38.91, up from $38.26, reflecting a growth of 1.70%[26] - The closing market price of the stock was $57.37, compared to $56.49 in the previous quarter, an increase of 1.55%[26] Interest Income - Net interest margin for the quarter was 3.36%, up from 3.25% a year ago, with net interest income increasing by $3.7 million, or 10.6%[3] - Total interest income for Q4 2024 reached $69,424,000, an increase of 3.0% from $67,378,000 in Q3 2024[27] - Net interest income for Q4 2024 was $38,143,000, up 4.0% from $36,661,000 in Q3 2024[27]