Welcome to our dedicated page for Southern Missouri Bancorp news (Ticker: SMBC), a resource for investors and traders seeking the latest updates and insights on Southern Missouri Bancorp stock.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) is the parent company of Southern Bank, a Missouri-based financial institution focused on community banking and savings activities. News about Southern Missouri Bancorp frequently centers on its quarterly and annual financial results, dividend declarations, and detailed balance sheet updates. The company issues regular press releases announcing preliminary earnings, net income per diluted share, net interest margin, and returns on average assets and common equity, giving investors insight into how loan growth, deposit trends, and funding costs are affecting performance.
SMBC’s news flow also highlights developments in its loan and deposit portfolios. The company reports changes in gross loan balances across categories such as one- to four-family residential real estate, non-owner occupied and owner occupied commercial real estate, multi-family real estate, construction and land development, agricultural real estate and production, commercial and industrial loans, and consumer loans. These updates often include commentary on concentrations in non-owner occupied commercial real estate and the composition of collateral, including multi-family properties, hospitality, care facilities, retail stand-alone properties, strip centers, and storage units.
On the funding side, Southern Missouri Bancorp’s releases describe movements in non-interest bearing deposits, NOW accounts, money market and savings accounts, certificates of deposit, brokered deposits, and public unit deposits, along with changes in Federal Home Loan Bank advances and securities sold under agreements to repurchase. Investors following SMBC news can also track nonperforming loans and assets, allowance for credit losses, and net charge-off trends, as the company provides regular updates on asset quality and credit loss provisioning under ASC 326-20.
Corporate actions and governance items, such as executive leadership changes, amendments to bylaws, and shareholder meeting results, are disclosed through news releases and Form 8-K filings. For ongoing coverage of SMBC, this news page aggregates the company’s earnings announcements, dividend declarations, investor presentations, and other material updates, allowing readers to review how Southern Missouri Bancorp’s financial condition and strategic decisions evolve over time.
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Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) reported a preliminary net income of $11.7 million for Q2 FY 2023, down 2.7% year-over-year. Earnings per diluted share were $1.26, a decline of $0.09. This decrease is attributed to increased noninterest expenses and provisions for credit losses, despite a rise in net interest income (up 12.7% to $28.3 million) and noninterest income (up 3.2%). The merger with Fortune Financial Corporation contributed significantly to growth. The Board declared a $0.21 quarterly dividend, marking the 115th consecutive payment. Asset growth reached $3.5 billion, with total loans at $3.0 billion, reflecting strong loan activity.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) has successfully completed its merger with Citizens Bancshares Co., based in Kansas City, Missouri. This merger enhances Southern Missouri’s footprint, bringing its total banking facilities to 65 across Missouri, Kansas, Illinois, and Arkansas. Citizens Bank & Trust now operates as a subsidiary of Southern Missouri. Shareholders of Citizens will receive either 1.1755 shares of Southern Missouri stock or $54.93 in cash per share, with a total merger consideration of approximately $131.4 million. The merger will increase combined assets to about $4.4 billion, including $3.4 billion in loans.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) announced that Citizens Bancshares Co. shareholders have until January 17, 2023, to elect their form of merger consideration in the ongoing acquisition. Shareholders may choose between 1.1448 shares of Southern Missouri common stock or a cash payment of $53.50 per Citizens share. This transaction is subject to customary closing conditions and has been approved by both companies' shareholders. Further steps include ensuring proper documentation is submitted to Computershare by the election deadline.
Southern Missouri Bancorp, Inc. (SMBC) reported preliminary net income of $9.6 million for Q1 FY2023, a 24.7% decline year-over-year. Earnings per diluted share fell to $1.04, down 27.3% from the previous year. Key factors include increased provisions for credit losses of $5.1 million, up from a recovery of $305,000, and a 19% rise in noninterest expenses. Net interest income rose by $2.9 million to $28.5 million despite a decreased net interest margin of 3.65%. The company also declared a quarterly cash dividend of $0.21.
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) has signed a definitive merger agreement to acquire Citizens Bancshares Co. in a stock and cash transaction valued at approximately $140 million. As of June 30, 2022, Citizens had consolidated assets of $1.0 billion, with net loans of $465 million and deposits of $879 million. Post-merger, the combined company will have total assets of around $4.5 billion, net loans of $3.3 billion, and total deposits of $3.8 billion, operating 65 locations across four states. The deal is expected to enhance shareholder value and deliver significant cost savings.
Southern Missouri Bancorp, Inc. (SMBC) reported a preliminary net income of $13.1 million for Q4 fiscal 2022, down 4.4% from last year. Earnings per diluted share fell to $1.41, a decrease of 7.8%. For the full year, net income remained stable at $47.2 million, with diluted EPS at $5.21, slightly down from $5.22 in fiscal 2021. Major factors included a rise in noninterest expense and provision for credit losses, offset by higher net interest and noninterest income. The bank declared a 5% dividend increase, the 113th consecutive payment. Total assets grew to $3.2 billion, marking a 19% increase year-over-year.
Southern Missouri Bancorp (NASDAQ: SMBC) reported preliminary net income of $9.4 million for Q3 FY2022, an 18.4% decline year-over-year, driven by increased noninterest expenses and provisions for credit losses. Earnings per share fell to $1.03, down 18.9% from the previous year. Despite these challenges, net interest income rose 8.5% to $25.1 million. The company declared a quarterly cash dividend of $0.20, marking its 112th consecutive quarter of dividends. Asset growth reached $3.3 billion, up 20.9% year-over-year, largely due to the Fortune merger.
Southern Missouri Bancorp (NASDAQ: SMBC) announced a leadership transition plan effective July 1, 2022. Greg A. Steffens will become Chairman of the Board, continuing as CEO. Matthew T. Funke is appointed President and CEO of Southern Bank, while Lora L. Daves becomes CFO. Lance K. Greunke will serve as Chief Risk Officer. The changes aim to focus on strategic growth and succession planning, acknowledging Steffens' pivotal role in the company's success over 23 years. The company holds total assets of approximately $3.2 billion after merging with FortuneBank, expanding its reach in Missouri, Arkansas, and Illinois.