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. reports banking results and capital actions as the NASDAQ-listed parent of Southern Bank. The bank attracts retail deposits and other funding and uses those funds for one- to four-family residential mortgages, commercial real estate loans, commercial business loans, and consumer loans. Recurring updates describe net interest income, noninterest income, provision for credit losses, deposit trends, loan pipelines, and noninterest expense across its community banking markets in Missouri, Arkansas, Illinois, and Kansas.
News also covers quarterly cash dividends, share repurchase authorization activity, investor conference calls, and leadership or governance updates at Southern Bank and the holding company.
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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.