SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR SECOND QUARTER OF FISCAL 2025; DECLARES QUARTERLY DIVIDEND OF $0.23 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR TUESDAY, JANUARY 28, AT 9:30 AM CENTRAL TIME

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]