Poplar Bluff, Missouri, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the second quarter of fiscal 2025 of $14.7 million, an increase of $2.5 million, or 20.2%, as compared to the same period of the prior fiscal year. The increase was attributable to increases in net interest income and noninterest income, partially offset by increases in noninterest expense, income t ...

Company Overview - Southern Missouri Bancorp, Inc. (SMBC) is experiencing significant attention from investors due to high implied volatility in its options market, particularly the Mar 21, 2025 $40.00 Put option [1] - The company currently holds a Zacks Rank of 4 (Sell) within the Financial - Savings and Loan industry, which is positioned in the top 19% of the Zacks Industry Rank [3] Analyst Sentiment - Over the past 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward, leading to a decrease in the Zacks Consensus Estimate from $1.30 to $1.23 per share [3] Options Market Insights - The high implied volatility suggests that options traders are anticipating a significant price movement for Southern Missouri Bancorp shares, which could indicate an upcoming event that may lead to a substantial rally or sell-off [2][4] - Options traders often seek to sell premium on options with high implied volatility, aiming to benefit from the decay of the option's value if the underlying stock does not move as much as expected by expiration [4]

Financial Performance - Net income for the first three months of fiscal 2025 was $12.5 million, a decrease of $693,000, or 5.3% compared to the same period of the prior fiscal year[195]. - Net interest income increased by $1.3 million, or 3.6%, while provision for credit losses increased by $1.3 million, or 139.9% compared to the same period last year[195]. - Noninterest income for the three-month period ended September 30, 2024, was $7.2 million, an increase of $1.3 million, or 22.6% compared to the same period of the prior fiscal year[199]. - Noninterest expense for the three-month period ended September 30, 2024, was $25.8 million, an increase of $2.1 million, or 9.0% compared to the same period of the prior fiscal year[200]. - Basic and fully-diluted net income per share was $1.10, down from $1.16, representing a decrease of $0.06 or 5.2%[215]. Asset Growth - Total assets increased by $124.9 million during the first three months of fiscal 2025, primarily due to a $114.8 million increase in loans, net of the allowance for credit losses[195]. - Total assets increased to $4.7 billion at September 30, 2024, reflecting a growth of $124.9 million, or 2.7%, compared to June 30, 2024[203]. - Cash equivalents rose to $75.3 million, an increase of $14.4 million, or 23.7%, from June 30, 2024[204]. - Net loans, after accounting for the allowance for credit losses, reached $3.9 billion, up by $114.8 million, or 3.0%, compared to June 30, 2024[205]. - Deposits totaled $4.0 billion, an increase of $97.1 million, or 2.5%, from June 30, 2024, with significant growth in certificates of deposit and savings accounts[207]. Credit Quality - Provision for credit losses (PCL) was $2.2 million, up from $900,000 in the same period of the prior fiscal year[219]. - The allowance for credit losses (ACL) at September 30, 2024, totaled $54.4 million, representing 1.37% of gross loans[224]. - The Company recorded net charge-offs of 0.01% (annualized) during the current period, compared to 0.03% (annualized) for the same period of the prior fiscal year[227]. - Total past due loans increased to $13.4 million at September 30, 2024, up from $9.2 million at June 30, 2024, and $28.4 million at September 30, 2023[231]. - Nonperforming loans totaled $8.2 million as of September 30, 2024, compared to $6.68 million at June 30, 2024, and $5.74 million at September 30, 2023[233]. Capital Ratios - Total capital to risk-weighted assets ratio was 13.12% as of September 30, 2024, exceeding the required minimum of 8.00%[243]. - Tier 1 capital to risk-weighted assets ratio was 12.53% as of September 30, 2024, above the required minimum of 8.00%[243]. - Common equity Tier 1 capital to risk-weighted assets ratio was 9.92% as of September 30, 2024, surpassing the required minimum of 4.00%[243]. - The Company had $534.5 million in total capital as of September 30, 2024, which is well above the capital adequacy requirements[243]. Loan Production and Portfolio - For the first three months of fiscal year 2025, fixed-rate 1-to-4 family residential loan production was $31.1 million, down from $36.4 million in the same period of the prior fiscal year[248]. - The fixed-rate 1-4 family residential loan portfolio increased to $624.1 million as of September 30, 2024, compared to $599.6 million a year earlier[248]. - The Company originated $95.2 million in fixed-rate commercial and commercial real estate loans during the three-month period ended September 30, 2024, compared to $60.8 million in the same period of the prior fiscal year[248]. - Adjustable-rate home equity lines of credit rose to $77.4 million as of September 30, 2024, up from $67.0 million at the same time in 2023[248]. Investment Portfolio - The Company's investment portfolio had a weighted-average life of 4.8 years as of September 30, 2024, down from 5.2 years a year earlier[248]. - The effective duration of the investment portfolio declined to 2.4% per 100 basis points movement in market rates as of September 30, 2024, compared to 2.7% at September 30, 2023[248]. - The notional amount of pay-fixed/receive-floating interest rate swaps increased to $50 million at September 30, 2024, compared to $40 million at June 30, 2024[254]. - The Company’s net portfolio value (NPV) decreased by 20% with a +300 basis point increase in rates, reflecting a change of $(103,891) thousand[250]. Strategic Initiatives - The company plans to continue growing assets through loan origination and investment securities purchases, primarily funded by deposits from retail and commercial clients[202]. - Management's asset/liability strategy includes increasing originations of commercial loans, which typically provide higher yields and shorter repricing periods[247]. - The Company continues to focus on customer retention and satisfaction to increase less rate-sensitive deposit accounts[248].

Core Viewpoint - Southern Missouri Bancorp (SMBC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which are a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, particularly influenced by institutional investors who adjust their valuations based on these estimates [4][6]. - For the fiscal year ending June 2025, Southern Missouri Bancorp is projected to earn $4.90 per share, reflecting an 11.1% increase from the previous year, with a 4.3% rise in the Zacks Consensus Estimate over the past three months [8]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks yielding an average annual return of +25% since 1988 [7]. - The upgrade of Southern Missouri Bancorp to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Financial Data and Key Metrics Changes - The diluted EPS for the current quarter was $1.10, down $0.09 from the linked June 2024 quarter and down $0.06 from the September quarter a year ago [6] - Reported noninterest expense was up 3.4% compared to the linked quarter, but excluding one-time performance review costs, expenses would have been flat quarter-over-quarter [8][29] - Net interest margin for the quarter was 3.37%, down from 3.44% reported for the year-ago period, but up from 3.25% for the fourth quarter of fiscal '24 [8][22] Business Line Data and Key Metrics Changes - Net interest income was up 4.5% quarter-over-quarter and about 3.5% year-over-year due to growth in average earning asset balances [9] - Gross loan balances increased by $117 million or 3% during the first quarter, and increased by $267 million or 7.2% over the prior 12 months [9] - Nonperforming loans were $8.2 million at September 30, up $1.5 million compared to June 30, representing 0.21% of gross loans [12] Market Data and Key Metrics Changes - Deposit balances increased by $97 million during the first quarter and by $208 million over the prior 12 months [9] - The company utilized $89 million in brokered CDs in the first quarter due to attractive pricing compared to local markets [9][34] - The allowance for credit loss as of September 30, 2024, totaled $54.4 million, representing 1.37% of gross loans [31] Company Strategy and Development Direction - The company is in the early stages of a performance improvement project aimed at enhancing operations and revenues, with a goal of improving customer and team member experience [7][36] - The management is optimistic about achieving at least mid-single-digit loan growth for the fiscal year [20] - The company is seeing a small incremental pickup in M&A conversations, with expectations for more interest from potential sellers as regional bank valuations have improved [38] Management Comments on Operating Environment and Future Outlook - Management noted pressure on profitability due to a larger provision for credit losses and increased noninterest expenses, but remains optimistic about future periods [4][5] - The company expects continued net interest income growth through the year, despite a seasonal slowdown in loan growth anticipated in the December quarter [24][25] - Management expressed confidence in borrowers' ability to navigate challenging conditions due to stringent underwriting practices [19] Other Important Information - Tangible book value increased by $5.14 or 15.5% over the prior 12 months, attributed to earnings retention and improvement in the bank's unrealized loss in the investment portfolio [10] - The company experienced strong growth in its East region, which is significant for agricultural activity, and good growth in the South region [20] Q&A Session Summary Question: Local competition on deposit pricing - Management indicated that local competition has begun to lower pricing following the FOMC cuts, making their rates more competitive [40] Question: Loan pricing competitive pressures - Management noted that they were on the high end of asking rates for loans but are seeing the market return to them with the uptick on the longer end of the treasury curve [41] Question: Guidance on margin and NII - Management expects continued NII growth but anticipates that the margin could move sideways or down in the December quarter due to liquidity build [43][44] Question: Performance improvement project details - The project is reviewing various aspects of the bank, with the goal of improving operations and positioning for future merger opportunities [46][47] Question: Update on M&A landscape - Management stated that while there are preliminary conversations, nothing imminent is on the horizon, but they expect more activity as valuations improve [53]

Southern Missouri Bancorp (SMBC) came out with quarterly earnings of $1.10 per share, missing the Zacks Consensus Estimate of $1.11 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -0.90%. A quarter ago, it was expected that this bank holding company would post earnings of $0.93 per share when it actually produced earnings of $1.19, delivering a surprise of 27.96%. Over the last fo ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Stefan Chkautovich, CFO October 28, 2024 (573) 778-1800 SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FIRST QUARTER OF FISCAL 2025; DECLARES QUARTERLY DIVIDEND OF $0.23 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR TUESDAY, OCTOBER 29, AT 9:30AM CENTRAL TIME Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc. ("Company") (NASDAQ: SMBC), the parent corporation of Southern Bank ("Bank"), today announced preliminary net income for the first quarter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-23406 SOUTHERN MISSOURI BANCORP, INC. | --- | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

A downtrend has been apparent in Southern Missouri Bancorp (SMBC) lately. While the stock has lost 7.7% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the ...

Southern Missouri Bancorp (SMBC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following ...