Investors in Southern Missouri Bancorp, Inc. (SMBC) need to pay close attention to the stock based on moves in the options market lately. That is because the Mar 20, 2026 $30 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It ...

Financial Performance - Net income for the first six months of fiscal 2026 was $33.8 million, an increase of $6.7 million, or 24.7%, compared to the same period of the prior fiscal year[192] - Net income for the three-month period ended December 31, 2025, was $18.2 million, an increase of $3.5 million or 23.9% compared to the same period in the prior fiscal year[218] - Fully-diluted net income per share for the three-month period was $1.62, up $0.32 or 24.6% year-over-year[219] - Fully-diluted net income per share for the six-month period was $3.00, up $0.60 or 25.0% year-over-year[229] Income and Expenses - Net interest income increased by $10.5 million, or 14.0%, for the first six months of fiscal 2026 compared to the same period in fiscal 2025[194] - Noninterest income for the six-month period ended December 31, 2025, was $13.3 million, a decrease of $690,000, or 4.9%, compared to the same period of the prior fiscal year[196] - Noninterest expense decreased by $397,000, or 0.8%, to $50.3 million for the six-month period ended December 31, 2025, compared to the same period of the prior fiscal year[198] - Noninterest income for the three-month period was $6.8 million, a decrease of $89,000 or 1.3%, primarily due to lower other loan fees[223] - Noninterest expense for the three-month period was $25.3 million, an increase of $394,000 or 1.6%, mainly due to higher data processing and advertising expenses[224] Assets and Liabilities - Total assets increased by $74.8 million, or 1.5%, to $5.1 billion at December 31, 2025, compared to June 30, 2025[199] - Total liabilities as of December 31, 2025, were $4.52 billion, with total stockholders' equity of $563.02 million[212] - Cash equivalents and time deposits decreased by $58.8 million, or 30.4%, to $134.3 million at December 31, 2025, compared to June 30, 2025[200] - Deposits increased to $4.3 billion at December 31, 2025, reflecting a rise of $27.0 million, or 0.63%, compared to June 30, 2025[204] Loans and Credit Quality - Loans, net of the allowance for credit losses (ACL), increased by $123.1 million, or 3.0%, to $4.2 billion at December 31, 2025, compared to June 30, 2025[201] - The Bank's concentration in non-owner occupied commercial real estate is estimated at 289.4% of Tier 1 capital and ACL as of December 31, 2025, down from 301.9% as of June 30, 2025, with these loans representing 39.4% of gross loans[203] - The total past due loans increased from $25.6 million at June 30, 2025, to $32.0 million at December 31, 2025, attributed to two borrower relationships with significant concerns regarding cash flow[244] - Total nonperforming assets increased to $31.2 million at December 31, 2025, from $23.7 million at June 30, 2025, and $10.8 million at December 31, 2024, primarily due to an increase in nonperforming loans (NPLs)[248] - The Company recorded net charge-offs of $704,000 for the three-month period ended December 31, 2025, with net recoveries of 0.07% (annualized) of average loans outstanding, compared to net charge-offs of 0.02% for the same period of the prior fiscal year[241] Capital Ratios - The Company and Bank's total capital ratio was 13.91% as of December 31, 2025, exceeding the required minimum of 8.00%[258] - The Company had a Tier I capital ratio of 12.48% as of December 31, 2025, above the required minimum of 6.00%[258] Interest Rate Risk and Management - The effective duration of the investment portfolio indicated a stable price sensitivity of approximately 2.3% per 100 basis points movement in market rates as of December 31, 2025[263] - The company maintains a $60 million notional amount in pay-fixed/receive-floating interest rate swaps to hedge against rising interest rates[269] - The Asset/Liability Committee meets monthly to review interest rate risk, liquidity, and capital ratios[270] Internal Controls - The company's disclosure controls and procedures were deemed effective as of December 31, 2025, ensuring timely communication and reporting of required information[273] - There have been no changes in internal control over financial reporting that materially affected the company's controls during the quarter ended December 31, 2025[273] - The company acknowledges that its controls cannot prevent all errors and fraud, highlighting inherent limitations in control procedures[274]

Financial Data and Key Metrics Changes - Earnings per share for the December quarter was $1.62, an increase of $0.24 or 17.4% from the linked September quarter, and up $0.32 or 24.6% from the December 2024 quarter [3] - Provision for credit loss expense decreased by $2.8 million to approximately $1.7 million compared to the linked September quarter [4] - Net interest margin (NIM) for the quarter was 3.57%, unchanged from the linked September quarter, and up from 3.34% reported for the year-ago period [6][18] - Tangible book value per share increased by $5.74 or almost 15% over the last 12 months, reaching $44.65 [8] Business Line Data and Key Metrics Changes - Gross loan balances increased by $35 million during the second quarter, and are up almost $200 million or 5% compared to December 31st of the prior year [4] - Loan originations reached nearly $312 million, marking the strongest quarter in several years, although growth was slowed by seasonal agricultural paydowns and larger loan payoffs [5] - Deposit balances increased by about $28 million in the second quarter and by $98 million or 2.3% compared to December 31st of the prior year [5] Market Data and Key Metrics Changes - The company experienced strong growth in its East region, followed by good growth in the West region [4] - Over the last 12 months, brokered deposits decreased by $72 million, while core deposit growth was approximately $170 million or 4.3% [6] Company Strategy and Development Direction - The company is focused on maintaining disciplined execution, prudent risk management, and thoughtful capital deployment to deliver consistent returns for shareholders [27] - A new share repurchase program was approved to repurchase up to 550,000 shares, approximately 5% of shares outstanding, indicating a commitment to returning capital to shareholders while preserving capacity for future growth [26] - The company is optimistic about potential M&A opportunities as market conditions stabilize, with a focus on banks within its footprint or adjacent markets [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of current profitability levels and the strength of the franchise, while remaining vigilant on credit quality [25] - The company anticipates limited net loan growth in the March quarter due to normal seasonality but expects a typical pickup in growth in the fourth quarter, aiming for mid-single-digit growth for fiscal year 2026 [5][36] - Management noted that while there are pressures on loan yields due to declining interest rates, there are opportunities for further improvement in funding costs [19] Other Important Information - The allowance for credit losses totaled $54.5 million, representing 1.29% of gross loans, an increase from the previous quarter [23] - Non-interest income increased by 3.1% compared to the linked quarter, driven by higher wealth management fees and increased interchange income [20] Q&A Session Summary Question: Loan growth and paydowns - Management noted that there were several unexpected paydowns, including a larger C&I relationship that moved to a larger bank, and overall prepayment rates are anticipated to be higher than historically seen [32][33] Question: Outlook on net interest margin - Management indicated that while they do not provide specific guidance on NIM, there is potential for increased spread due to decreased deposit costs [38] Question: Personnel costs expectations - Management expects a mid-single-digit increase in personnel costs due to annual merit increases, with no major deviations in run rates anticipated [45][46] Question: Charge-offs on commercial real estate loans - Management does not anticipate much in the way of additional charge-offs beyond historical averages, indicating a return to more normalized charge-off levels [53][54]

Financial Data and Key Metrics Changes - Earnings per share for the December quarter was $1.62, an increase of $0.24 or 17.4% from the linked September quarter, and up $0.32 or 24.6% from the December 2024 quarter [3] - Provision for credit loss expense decreased by $2.8 million to approximately $1.7 million compared to the linked September quarter [4] - Net interest margin (NIM) for the quarter was 3.57%, unchanged from the linked September quarter, and up from 3.34% reported for the year-ago period [6][18] - Tangible book value per share increased by $5.74 or almost 15% over the last 12 months, reaching $44.65 [8] Business Line Data and Key Metrics Changes - Gross loan balances increased by $35 million during the second quarter, and are up almost $200 million or 5% compared to December 31st of the prior year [4] - Loan originations reached nearly $312 million, marking the strongest quarter in several years, although growth was slowed by seasonal agricultural paydowns and larger loan payoffs [5] - Deposit balances increased by about $28 million in the second quarter and by $98 million or 2.3% compared to December 31st of the prior year [5] Market Data and Key Metrics Changes - The company experienced strong growth in its East region, followed by good growth in the West region [4] - Brokered deposits decreased by $72 million over the last 12 months, with core deposit growth at approximately $170 million or 4.3% during the same period [6] Company Strategy and Development Direction - The company is focused on maintaining disciplined execution, prudent risk management, and thoughtful capital deployment to deliver consistent returns for shareholders [27] - A new share repurchase program was approved to repurchase up to 550,000 shares, approximately 5% of shares outstanding, indicating a strategy to return capital to shareholders while preserving capacity for future growth [26] - The company is optimistic about potential M&A opportunities as market conditions stabilize, with a focus on banks within its footprint or adjacent markets [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of current profitability levels and the strength of the franchise, while remaining vigilant on credit quality [25] - The company anticipates limited net loan growth in the March quarter due to normal seasonality but expects a typical pickup in growth in the fourth quarter, aiming for mid-single-digit growth for fiscal year 2026 [5][36] - Management noted that while there are pressures on loan yields due to declining interest rates, there are opportunities for further improvement in funding costs [19] Other Important Information - Non-interest income increased by 3.1% compared to the linked quarter, driven by higher wealth management fees and increased interchange income [20] - The allowance for credit losses totaled $54.5 million, representing 1.29% of gross loans, an increase from the previous quarter [23] Q&A Session Summary Question: Loan growth and paydowns - Management noted that there were unexpected paydowns, including a larger C&I relationship that moved to a larger bank, and overall prepayment rates are anticipated to be higher than historically seen [32][33] Question: Outlook on net interest margin - Management indicated that while they do not provide specific guidance on NIM, there is potential for increased spread due to decreasing deposit costs [38] Question: Personnel costs expectations - Management expects a mid-single-digit increase in personnel costs due to annual merit increases, with no major deviations in run rates anticipated [45][46] Question: Charge-offs on commercial real estate loans - Management does not anticipate much in the way of additional charge-offs from the commercial real estate loan relationship discussed previously, expecting to return to historical averages [53][54]

Financial Data and Key Metrics Changes - Earnings per share for the December quarter was $1.62, an increase of $0.24 or 17.4% from the linked September quarter, and up $0.32 or 24.6% from the December 2024 quarter [3] - Provision for credit loss expense decreased by $2.8 million to approximately $1.7 million compared to the linked September quarter [4] - Net interest margin for the quarter was 3.57%, unchanged from the linked September quarter, and up from 3.34% reported for the year-ago period [6][17] - Tangible book value per share increased by $5.74 or almost 15% over the last 12 months, reaching $44.65 [7] Business Line Data and Key Metrics Changes - Gross loan balances increased by $35 million during the second quarter, and are up almost $200 million or 5% compared to December 31st of the prior year [4] - Loan originations reached nearly $312 million, marking the strongest quarter in several years, although growth was slowed by seasonal agricultural paydowns and larger loan payoffs [5] - Deposit balances increased by about $28 million in the second quarter and by $98 million or 2.3% compared to December 31st of the prior year [5] Market Data and Key Metrics Changes - The company experienced strong growth in the East region, followed by good growth in the West region [4] - Over the last 12 months, brokered deposits decreased by $72 million, while core deposit growth was approximately $170 million or 4.3% [6] Company Strategy and Development Direction - The company is focused on disciplined execution, prudent risk management, and thoughtful capital deployment to deliver consistent, attractive returns for shareholders [26] - A new share repurchase program was approved to repurchase up to 550,000 shares, approximately 5% of shares outstanding, indicating a commitment to returning capital to shareholders while maintaining capacity for future growth [25] - The company is optimistic about potential M&A opportunities as market conditions stabilize, with a focus on banks within their footprint or adjacent markets [25][61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and quality of earnings, indicating that current profitability levels are sustainable [24] - The company anticipates limited net loan growth in the March quarter due to normal seasonality but expects a typical pickup in growth in the fourth quarter, aiming for mid-single-digit growth for fiscal year 2026 [5][35] - Management remains vigilant on credit quality and is focused on improving it while feeling good about progress being made across several problem credits [12] Other Important Information - Non-interest income increased by 3.1% compared to the linked quarter, driven by higher wealth management fees and increased interchange income [19] - The allowance for credit losses totaled $54.5 million, representing 1.29% of gross loans, an increase from the previous quarter [21] Q&A Session Summary Question: Loan growth and paydowns - Management noted that several unexpected paydowns occurred, including a larger C&I relationship that moved to a larger bank, and overall prepayment rates have been higher than historically seen [31][32] Question: Outlook on net interest margin - Management indicated potential for increased spread in the March quarter due to decreased deposit costs, but did not provide specific guidance on NIM [37] Question: Personnel costs expectations - Management expects a mid-single-digit increase in personnel costs due to annual merit increases, with no major deviations anticipated in run rates [44][45] Question: Buyback activity and M&A appetite - Management will remain disciplined regarding buyback activity, balancing between capital deployment for buybacks and potential acquisition opportunities [50] Question: Charge-offs on commercial real estate loans - Management anticipates charge-offs to return to historical averages in upcoming quarters, with no significant additional impact expected from specific relationships [52][53]

分组1 - Southern Missouri Bancorp (SMBC) reported quarterly earnings of $1.62 per share, exceeding the Zacks Consensus Estimate of $1.56 per share, and up from $1.3 per share a year ago, representing an earnings surprise of +3.85% [1] - The company posted revenues of $49.65 million for the quarter ended December 2025, which was 1.3% below the Zacks Consensus Estimate, compared to $45.01 million in the same quarter last year [2] - Over the last four quarters, Southern Missouri Bancorp has surpassed consensus EPS estimates three times, but has only topped revenue estimates once [2] 分组2 - The stock has increased approximately 2.5% since the beginning of the year, while the S&P 500 has declined by 0.7% [3] - The current consensus EPS estimate for the upcoming quarter is $1.53 on revenues of $49.7 million, and for the current fiscal year, it is $6.10 on revenues of $200 million [7] - The Zacks Industry Rank for Financial - Savings and Loan is in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Preliminary net income for Q2 fiscal 2026 was $18.2 million, an increase of $3.5 million, or 23.9%, compared to the same period last year [2]. - Earnings per diluted common share was $1.62, up $0.32, or 24.6%, year-over-year, and up $0.24, or 17.4%, from Q1 fiscal 2026 [3]. - Net interest income for the three-month period ended December 31, 2025, was $42.9 million, an increase of $4.7 million, or 12.4%, year-over-year [19]. - Noninterest income for the three-month period ended December 31, 2025, was $6.8 million, a decrease of $89,000, or 1.3%, year-over-year [22]. - Net income for Q4 2025 reached $18,150,000, up from $15,650,000 in Q3 2025, representing a 9.6% increase [32]. - Basic earnings per common share rose to $1.62 in Q4 2025, compared to $1.39 in Q3 2025, marking a 16.5% increase [32]. Asset and Loan Growth - Gross loan balances increased by $34.8 million, or 0.8%, from September 30, 2025, and by $199.6 million, or 5.0%, from December 31, 2024 [3]. - Total assets were $5.1 billion at December 31, 2025, reflecting an increase of $74.8 million, or 1.5%, compared to June 30, 2025 [8]. - Total assets increased to $5,094,387 thousand as of December 31, 2025, up from $5,036,332 thousand in the previous quarter, representing a growth of 1.1% [31]. - Loans receivable, gross reached $4,226,556 thousand, an increase from $4,191,743 thousand in the prior quarter, reflecting a growth of 0.8% [31]. Deposits and Cash Management - Total deposits reached $4.3 billion as of December 31, 2025, reflecting an increase of $27.0 million, or 0.63%, compared to June 30, 2025 [17]. - Cash equivalents and time deposits decreased by $58.8 million, or 30.4%, to $134.3 million at December 31, 2025, due to loan growth outpacing deposit generation [9]. - Cash equivalents and time deposits increased to $134,309 thousand, up from $124,358 thousand in the previous quarter, representing an increase of 7.9% [31]. Credit Quality and Allowance - Nonperforming loans (NPLs) were $29.7 million, or 0.70% of gross loans, at December 31, 2025, up from $23.0 million, or 0.56%, at June 30, 2025 [13]. - The allowance for credit losses (ACL) totaled $54.5 million, representing 1.29% of gross loans, compared to 1.26% at June 30, 2025 [14]. - The provision for credit losses (PCL) was $1.7 million for the three-month period ended December 31, 2025, compared to $932,000 in the same period of the prior fiscal year [21]. - Provision for credit losses decreased significantly to $1,680,000 in Q4 2025 from $4,500,000 in Q3 2025, indicating improved credit quality [32]. Shareholder Returns and Equity - The Company repurchased 148,000 shares at an average price of $54.32 per share, totaling $8.1 million [3]. - A quarterly cash dividend of $0.25 per common share was declared, marking the 127th consecutive quarterly dividend [4]. - Stockholders' equity increased to $567.4 million at December 31, 2025, a rise of $22.7 million, or 4.2%, compared to June 30, 2025 [18]. - Total stockholders' equity rose to $567,360 thousand, compared to $560,221 thousand in the previous quarter, indicating an increase of 1.9% [31]. - Total stockholders' equity increased to $563,016,000 in Q4 2025 from $551,787,000 in Q3 2025, reflecting a stronger capital position [33]. Efficiency and Expense Management - Noninterest expense for the same period was $25.3 million, an increase of $394,000, or 1.6%, compared to the prior year [23]. - The efficiency ratio improved to 50.9% for the three-month period ended December 31, 2025, compared to 55.3% in the same period of the prior fiscal year [24]. - Total noninterest expense was $25,270,000 in Q4 2025, slightly higher than $25,051,000 in Q3 2025, indicating controlled expense growth [32]. Tax and Market Performance - The effective tax rate for the quarter was 20.0%, down from 23.7% for the same period in the prior year [25]. - The closing market price of common shares was $59.12, compared to $52.56 in the previous quarter, reflecting a growth of 12.0% [31].

Core Viewpoint - Southern Missouri Bancorp, Inc. reported a preliminary net income of $18.2 million for the second quarter of fiscal 2026, reflecting a 23.9% increase compared to the same period last year, driven by higher net interest income despite increased provisions for credit loss and noninterest expenses [1]. Financial Performance - Preliminary net income per fully diluted common share was $1.62, up from $1.30 in the same quarter last year, marking a $0.32 increase [1]. - Net interest income rose by $4.7 million, or 12.4%, compared to the same quarter last year, attributed to a 5.0% increase in the average balance of interest-earning assets and a 23-basis point increase in net interest margin [19][20]. - Noninterest income decreased by $89,000, or 1.3%, primarily due to changes in fee recognition under ASC 310-20 [22]. Dividends and Share Repurchase - The Board of Directors declared a quarterly cash dividend of $0.25, marking the 127th consecutive quarterly dividend [3]. - A new share repurchase program was authorized for up to 550,000 shares, approximately 5.0% of outstanding shares, following the near completion of the previous program [4][5]. Balance Sheet Highlights - Total assets reached $5.1 billion, an increase of $74.8 million, or 1.5%, compared to June 30, 2025 [8]. - Loans, net of allowance for credit losses, were $4.2 billion, increasing by $123.1 million, or 3.0%, compared to June 30, 2025 [10]. - Total liabilities were $4.5 billion, reflecting a $52.1 million increase, or 1.2%, compared to June 30, 2025 [15]. Asset Quality - Nonperforming loans (NPLs) increased to $29.7 million, or 0.70% of gross loans, compared to $23.0 million, or 0.56%, at June 30, 2025 [13]. - The allowance for credit losses (ACL) totaled $54.5 million, representing 1.29% of gross loans, and was 184% of NPLs [14]. Deposits and Funding - Total deposits were $4.3 billion, an increase of $27.0 million, or 0.63%, compared to June 30, 2025 [16]. - The average loan-to-deposit ratio for the second quarter was 96.7%, compared to 94.5% for the quarter ended June 30, 2025 [16]. Efficiency and Expenses - Noninterest expense for the quarter was $25.3 million, an increase of $394,000, or 1.6%, compared to the same period last year [23]. - The efficiency ratio improved to 50.9%, down from 55.3% in the same period last year, indicating better operational efficiency [24].

Core Viewpoint - Southern Missouri Bancorp, Inc. (SMBC) shows potential as a stock pick due to a recent "golden cross" event, indicating a bullish trend may be forthcoming [1][2]. Technical Analysis - A "golden cross" occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), suggesting a bullish breakout [2]. - The formation of a golden cross typically follows a downtrend, a bottoming out, and then a trend reversal leading to higher prices [3]. Performance Metrics - SMBC has experienced a price rally of 12.2% over the past four weeks, indicating strong momentum [4]. - The company currently holds a 2 (Buy) rating on the Zacks Rank, suggesting favorable market sentiment [4]. Earnings Outlook - There has been one upward revision in earnings estimates for SMBC over the past 60 days, with no downward revisions, reflecting a positive earnings outlook for the current quarter [4]. - The Zacks Consensus Estimate for SMBC has also increased, further supporting the bullish case for the stock [4][5]. Investment Consideration - The combination of positive earnings estimate revisions and the technical breakout signals suggests that investors should monitor SMBC for potential gains in the near future [5].

Core Viewpoint - Southern Missouri Bancorp (SMBC) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on the Zacks Consensus Estimate, which aggregates EPS estimates from sell-side analysts for the current and upcoming years [2]. - The recent upgrade reflects a 7.9% increase in the Zacks Consensus Estimate for Southern Missouri Bancorp over the past three months, with expected earnings of $6.05 per share for the fiscal year ending June 2026, showing no year-over-year change [9]. Impact of Institutional Investors - Changes in earnings estimates are closely linked to stock price movements, largely due to institutional investors who adjust their valuations based on these estimates, leading to significant buying or selling activity [5][6]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [8]. - The upgrade of Southern Missouri Bancorp to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10][11].