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]

Financial Data and Key Metrics Changes - Earnings per share for the quarter was $1.39 diluted, up $0.09 from the linked December and up $0.40 from the previous March [5] - Net interest margin for the quarter was 3.39%, compared to 3.15% for the same period last year and up from 3.36% in the previous quarter [5] - Net interest income increased by 3.5% quarter over quarter and 14.4% year over year due to higher average earning asset balances and net interest margin expansion [6][7] - Tangible book value per share increased to $40.37, up $4.86 or almost 14% year over year [8] Business Line Data and Key Metrics Changes - Gross loan balances decreased by $3.5 million compared to December but increased by $252 million year over year, reflecting a growth of almost 7% [6][7] - Deposit balances increased by approximately $51 million in the third quarter and by $275 million or about 7% year over year [7] - Non-interest income decreased by 2.9% compared to the linked quarter, primarily due to lower deposit account fees [20] Market Data and Key Metrics Changes - Adversely classified loans increased to $49 million or 1.2% of total loans, up $9 million during the quarter [9] - Non-performing loans (NPLs) were $22 million, an increase of $14 million compared to the last quarter, totaling 0.55% of gross loans [10] - Total delinquent loans were $24 million, up $11 million from December [11] Company Strategy and Development Direction - The company is focusing on improving credit quality and has redoubled efforts to address recent trends in problem loans [12] - A new qualitative factor in the calculation for allowance for credit losses has been implemented to reserve more for agricultural-related exposure [16] - The company is optimistic about achieving at least mid-single-digit loan growth for the fiscal year, supported by a strong pipeline [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continuing positive trends in earnings and profitability through fiscal year 2025 [25] - The company is monitoring economic conditions closely, particularly in light of potential changes in economic policy that could affect credit losses [24] - Management noted that while there are signs of stress among consumers and small businesses, broader trends in commercial real estate remain stable [50] Other Important Information - The company has initiated performance improvement initiatives to enhance customer service and operational efficiency [26] - There are ongoing discussions regarding potential mergers and acquisitions, although no immediate opportunities are anticipated due to market volatility [26] Q&A Session Summary Question: Inquiry about margin specifics and CD roll-off rates - Management indicated that approximately $215 million in CDs are rolling off at rates averaging around 4.25% over the next three months, with a total of $1.2 billion renewing at an average rate of 4.26% over the next year [30] Question: Assessment of agricultural commodities and tariffs - Management noted limited visibility on the impact of tariffs but indicated that government price supports would kick in if prices remain low [32] Question: Discussion on net interest margin and renewal rates - Management confirmed that the reported net interest margin was around 3.4%, with renewal rates for loans averaging between 7.25% and 7.50% [39] Question: Concerns regarding non-performing loans and collateral - Management acknowledged the increase in NPLs, particularly related to medical lease properties, and indicated that charge-offs are anticipated [41] Question: Capital priorities and potential share buybacks - Management stated that share repurchases would depend on stock price and market conditions, with a target tangible common equity ratio of 8% to 9% [45]

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].

Financial Data and Key Metrics Changes - Earnings per share for Q2 2025 was $1.30, an increase of $0.20 from the previous quarter and $0.23 from the same quarter last year [5] - Net interest margin for the quarter was 3.36%, up from 3.25% year-over-year and relatively flat compared to Q1 2025 [5] - Net interest income increased by 4% quarter-over-quarter and approximately 10.5% year-over-year [5][6] - Deposit balances increased by about $170 million in Q2 and $225 million or about 5.5% compared to the previous year [6] Business Line Data and Key Metrics Changes - Gross loan balances increased by over $60 million during Q2 and were up $295 million or just under 8% year-over-year [6] - Non-performing loan balances slightly increased to $8 million, representing 21 basis points of total loans, up 5 basis points from the prior year [8] - Total delinquent loans remained flat at $13 million, with net charge-offs at a benign 2 basis points annualized [9] Market Data and Key Metrics Changes - Strong deposit growth was attributed to seasonal inflows from agricultural customers and public unit depositors [6] - Agricultural real estate loan balances were stable, while ag production and equipment loan balances decreased by $12 million quarter-over-quarter [10] - The bank experienced growth in construction, commercial and industrial, and residential real estate loans, particularly in the South region and new markets [12] Company Strategy and Development Direction - The company is optimistic about the remainder of fiscal 2025, citing improving yield curve slope and strong business activity in its markets [20] - A performance improvement initiative is underway to enhance customer service and operational efficiency, with full adoption expected over several years [19][20] - The company is expanding its talent pool, particularly in newer markets, to support growth and service improvements [20] Management's Comments on Operating Environment and Future Outlook - Management expects some modest increases in problem loans and net charge-offs but believes they will remain manageable and below industry averages [9] - The effective tax rate for Q2 was elevated due to adjustments related to merger activity, but it is expected to return to normal ranges in the second half of the fiscal year [18][19] - Management anticipates stable to slightly higher loan balances in the upcoming quarter, with potential for mid to higher single-digit growth by the end of the fiscal year [39] Other Important Information - The company’s tangible book value per share increased by $4.26 or 12% over the last 12 months, reaching $38.91 [7] - Non-interest income decreased by 4.3% compared to the linked quarter, primarily due to reduced gains on loan sales and lower interchange income [16] - The provision for credit losses was $932,000, down from $2.2 million in the previous quarter, reflecting a more stable credit environment [17] Q&A Session Summary Question: What are the trends in deposit competition across different markets? - Management noted a mixed bag in deposit competition, with a decrease in the fight for funds compared to the previous year, but some outliers with high rates still exist [25][26] Question: Can you provide more details on the decision to buy securities? - The company took advantage of higher market rates to purchase about $50 million in securities, primarily in variable and fixed-rate options [27][30] Question: What should be expected regarding expenses in the coming quarters? - Management indicated that seasonal compensation adjustments will occur in March, but overall expenses are expected to remain stable [31] Question: What is the outlook for loan growth in the upcoming quarters? - Management anticipates stable to slightly higher loan balances, with potential for mid to higher single-digit growth depending on agricultural planting conditions [39] Question: How does the company view its current concentration in commercial real estate? - The company’s internal limit for commercial real estate concentration is higher than current levels, and they expect to maintain a stable ratio moving forward [49]

Core Viewpoint - Southern Missouri Bancorp (SMBC) reported quarterly earnings of $1.30 per share, exceeding the Zacks Consensus Estimate of $1.23 per share, and showing an increase from $1.07 per share a year ago, indicating a positive earnings surprise of 5.69% [1][2] Group 1: Earnings Performance - The company has surpassed consensus EPS estimates three times over the last four quarters [2] - For the quarter ended December 2024, SMBC posted revenues of $45.01 million, which is 4.16% above the Zacks Consensus Estimate and an increase from $40.13 million year-over-year [2] - The company has topped consensus revenue estimates four times over the last four quarters [2] Group 2: Stock Performance and Outlook - SMBC shares have declined approximately 0.3% since the beginning of the year, while the S&P 500 has gained 3.7% [3] - The current consensus EPS estimate for the upcoming quarter is $1.20 on revenues of $43.75 million, and for the current fiscal year, it is $4.75 on revenues of $175.77 million [7] Group 3: Industry Context - The Financial - Savings and Loan industry, to which SMBC belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact SMBC's stock performance [5][6]

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]

Core Points - Southern Missouri Bancorp, Inc. reported preliminary net income of $14.7 million for Q2 fiscal 2025, a 20.2% increase from the same period last year, driven by higher net interest income and noninterest income [1][2] - Earnings per diluted share rose to $1.30, up $0.23 from $1.07 in the prior year [1][2] - The company declared a quarterly cash dividend of $0.23, marking the 123rd consecutive quarterly dividend [3] Financial Performance - Net interest income for the quarter was $38.1 million, an increase of $3.7 million or 10.6% year-over-year [17] - Noninterest income increased by 21.7% to $6.9 million, primarily due to the prior year's losses on the sale of available-for-sale securities [20] - Noninterest expense rose by $1.0 million or 4.3% to $24.9 million, attributed to higher compensation, legal fees, and occupancy costs [21][22] - The efficiency ratio improved to 55.3% from 58.5% in the same quarter last year, indicating better cost management [23] Balance Sheet Highlights - Total assets reached $4.9 billion, reflecting a growth of $303.4 million or 6.6% since June 30, 2024 [6] - Gross loan balances increased by $60.5 million or 1.5% from the previous quarter and by $295.1 million or 7.9% year-over-year [8] - Deposit balances rose by $170.5 million or 4.2% from the previous quarter and by $225.1 million or 5.6% year-over-year [14] Loan and Asset Quality - Nonperforming loans (NPLs) were $8.3 million, or 0.21% of gross loans, an increase from $6.7 million or 0.17% at the end of the previous quarter [11][28] - The allowance for credit losses (ACL) was $54.7 million, representing 1.36% of gross loans, with a coverage ratio of 659% of NPLs [12][28] - The company recorded a provision for credit losses of $932,000 for the quarter, slightly up from $900,000 in the same period last year [19] Capital and Equity - Stockholders' equity increased to $512.4 million, a rise of $23.6 million or 4.8% since June 30, 2024 [16] - Tangible book value per share was $38.91, up 12.3% from the previous year [6][16] - The company's effective tax rate for the quarter was 23.7%, up from 20.6% in the same quarter last year, influenced by adjustments related to merger activity [24]

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]