SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FIRST QUARTER OF FISCAL 2027; DECLARES QUARTERLY DIVIDEND OF $0.27 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, OCTOBER 22, AT 9:30 AM CENTRAL TIME

Credit-loss provision declined, while loan modifications for borrowers experiencing financial difficulty increased from the preceding quarter.

Rhea-AI Summary

Southern Missouri Bancorp (NASDAQ: SMBC) reported preliminary fiscal first-quarter 2027 net income of $19.1 million, up from the prior-year quarter. Diluted earnings were $1.73 per share, up 25.4% year over year but down 5.5% from the preceding quarter. Net interest income rose 8.3% year over year to $45.9 million, and net interest margin increased to 3.70% from 3.57%.

Gross loans grew 1.5% during the quarter to $4.5 billion, while deposits increased 1.5% to $4.5 billion. Nonperforming loans fell to $26.7 million from $27.7 million at June 30, but performing loan modifications for borrowers experiencing financial difficulty rose to $51.1 million from $31.0 million. Tangible book value reached $48.52 per share, up 11.9% over twelve months. The board declared a $0.27 quarterly dividend, payable November 30, 2026, to holders of record November 13.

21 points · 0 major

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0 major · 10 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointPreliminary quarterly net income rose 22.0% year over year to $19.1 million.
• Moderate pointNet interest income reached $45.9 million, up 8.3% year over year and 3.5% sequentially.
• Moderate pointGross loans grew $63.9 million quarterly and $263.9 million over twelve months, reaching $4.5 billion.
• Moderate pointDeposits grew $66.1 million quarterly and $193.5 million over twelve months, reaching $4.5 billion.
• Moderate pointAnnualized net charge-offs fell to 0.04%, versus 0.36% a year earlier and 0.40% sequentially.
• Moderate pointTangible book value per share increased 11.9% over twelve months to $48.52.

15 minor points

• Minor pointPreliminary diluted EPS reached $1.73, up 25.4% year over year but down 5.5% sequentially.
• Minor pointNet interest margin reached 3.70%, versus 3.57% a year earlier and 3.67% the preceding quarter.
• Minor pointCredit-loss provision fell to $3.0 million, down $1.5 million year over year and $240,000 sequentially.
• Minor pointAnnualized return on assets was 1.44%, versus 1.24% a year earlier and 1.57% sequentially.
• Minor pointAnnualized return on common equity was 12.7%, versus 11.3% a year earlier and 14.0% sequentially.
• Minor pointTotal assets increased 1.4% to $5.3 billion from June 30, 2026.
• Minor pointCash equivalents and time deposits increased 6.8% to $97.1 million from June 30, 2026.
• Minor pointNonperforming loans fell 3.6% to $26.7 million; their gross-loan ratio declined to 0.60% from 0.63% sequentially.
• Minor pointNonperforming assets fell 3.3% to $32.4 million, or 0.61% of assets, from 0.64% sequentially.
• Minor pointCredit-loss allowance coverage increased to 218.6% of nonperforming loans, from 198.6% at June 30.
• Minor pointCommercial real estate concentration declined to an estimated 277.7% of Tier 1 capital and allowance, from 287.7% sequentially.
• Minor pointFHLB advances declined 5.9% to $122.7 million from June 30, 2026.
• Minor pointStockholders’ equity increased 1.8% to $601.1 million from June 30, 2026.
• Minor pointShare repurchases returned $1.4 million through 19,000 shares purchased at an average $72.63 per share.
• Minor pointNoninterest income increased year over year, contributing to higher quarterly earnings.

Negative

• Moderate pointPerforming modifications for financially troubled borrowers rose to $51.1 million from $31.0 million, primarily from one commercial loan.
• Moderate pointIncome-tax provision increased to $4.5 million, up $678,000 year over year and $1.7 million sequentially.
• Minor pointPrior-quarter tax-credit investment benefit of $1.7 million did not recur.
• Minor pointNoninterest expense increased year over year, partially offsetting earnings growth.
• Minor pointAccumulated other comprehensive loss reached $14.4 million, versus $9.8 million at June 30, as investment values declined.

5 minor points

• Minor pointNon-interest-bearing deposits declined to $540.595 million from $560.704 million at June 30.
• Minor pointNOW account balances declined to $1,058.162 million from $1,074.489 million at June 30.
• Minor pointSavings balances declined to $705.151 million from $707.482 million at June 30.
• Minor pointPublic unit deposits declined $42.4 million to $475.4 million from June 30.
• Minor point. Forward-looking: it has not happened yet and may not happen.Loans anticipated to fund within 90 days totaled $184.8 million, versus $181.7 million sequentially and $194.5 million a year earlier.

Key Figures

Net income: $19.1 million; up 22.0% Diluted EPS: $1.73; up 25.4% Net interest margin: 3.70%, versus 3.57% +3 more

Net income

$19.1 million; up 22.0%

First quarter of fiscal 2027 versus the same prior-year period

Diluted EPS

$1.73; up 25.4%

First quarter of fiscal 2027 versus the same prior-year period

Net interest margin

3.70%, versus 3.57%

First quarter of fiscal 2027 versus the same prior-year period

Provision for credit losses

$3.0 million, down from $4.5 million

First quarter of fiscal 2027 versus the same prior-year period

Quarterly dividend

$0.27 per common share

Declared October 20, 2026; payable November 30, 2026

Commercial real estate concentration

277.7% of Tier 1 capital and ACL

Non-owner occupied commercial real estate concentration at September 30, 2026

Previous Conferences,dividends,earnings Reports

1 past event · Latest: Jul 22

Same Type 1 event

1. Jul 22

   Quarterly earnings

   24h Move

   +3.1%

   Q4 FY26 net income rose 28.5% year over year and diluted EPS reached $1.83.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, available-for-sale, allowance for credit losses, nonperforming loans, +1 more

5 terms

net interest margin financial

"Net interest margin for the quarter was 3.70%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

available-for-sale financial

"and available-for-sale (AFS) securities"

A classification for bonds, stocks or other investments that a company plans to keep but might sell before they reach full term. Think of it like items a shop keeps on a shelf for potential sale: their market value can go up or down while the company holds them, and those unrealized gains or losses are shown separately from operating profit until they are sold. Investors watch this because large swings can change a company’s reported net worth and signal how much flexibility it has to raise cash quickly.

allowance for credit losses financial

"Loans, net of the allowance for credit losses (ACL)"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

nonperforming loans financial

"Nonperforming loans (NPLs) were $26.7 million"

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

loan-to-deposit ratio financial

"The average loan-to-deposit ratio for the first quarter"

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Poplar Bluff, Missouri, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the first quarter of fiscal 2027 of $19.1 million, an increase of $3.4 million, or 22.0%, as compared to the same period of the prior fiscal year. The increase was driven by higher net interest income, lower provision for credit losses (PCL), and higher noninterest income. This was partially offset by higher noninterest expense and higher provision for income taxes. Preliminary net income was $1.73 per fully diluted common share for the first quarter of fiscal 2027, an increase of $0.35, or 25.4%, as compared to $1.38 per fully diluted common share reported for the same period of the prior fiscal year.

Highlights for the first quarter of fiscal 2027:

• Earnings per common share (diluted) were $1.73, up $0.35, or 25.4%, as compared to the same quarter a year ago, and down $0.10, or 5.5%, from the fourth quarter of fiscal 2026, the linked quarter. During the year-ago quarter, the Company incurred $572,000 of non-recurring consulting expenses related to renegotiation of a significant bank contract, reducing after-tax net income by $444,000, or $0.04 per fully diluted common share, with no similar charges in the current quarter.
  
  
• Annualized return on average assets (ROA) was 1.44%, while annualized return on average common equity (ROE) was 12.7%, as compared to 1.24% and 11.3%, respectively, in the same quarter a year ago, and 1.57% and 14.0%, respectively, in the fourth quarter of fiscal 2026, the linked quarter.
  
  
• Net interest margin for the quarter was 3.70%, up from 3.57% reported for the year-ago period, and up from 3.67% reported for the fourth quarter of fiscal 2026, the linked quarter. Net interest income increased $3.5 million, or 8.3%, as compared to the same quarter a year ago, and increased $1.5 million, or 3.5%, as compared to the fourth quarter of fiscal 2026, the linked quarter.
  
  
• PCL was $3.0 million during the first quarter of fiscal 2027, a decrease of $1.5 million from the year-ago period and a decrease of $240,000 from the fourth quarter of fiscal 2026, the linked quarter.
  
  
• Provision for income taxes was $4.5 million, an increase of $678,000 from the prior-year quarter and an increase of $1.7 million from the linked quarter, primarily reflecting a $1.7 million tax benefit from tax credit investments recognized in the linked quarter that did not recur.
  
  
• Gross loan balances increased by $63.9 million during the first quarter of fiscal 2027, or 1.5%, and increased by $263.9 million, or 6.3%, over the last twelve months.
  
  
• Deposit balances increased by $66.1 million during the first quarter of fiscal 2027, or 1.5%, and increased by $193.5 million, or 4.5%, over the last twelve months.
  
  
• Tangible book value per share was $48.52 as of September 30, 2026, and increased by $5.17, or 11.9%, during the last twelve months.
  
  
• The Company repurchased 19,000 shares of its common stock in the first quarter of 2027 at an average price of $72.63 per share, for a total of $1.4 million. The average purchase price was 150% of our tangible book value as of September 30, 2026.        
  
  

Dividend Declared:

The Board of Directors, on October 20, 2026, declared a quarterly cash dividend on common stock of $0.27, payable November 30, 2026, to stockholders of record at the close of business on November 13, 2026, marking the 130th consecutive quarterly dividend since the inception of the Company. The Board of Directors and management believe the payment of a quarterly cash dividend enhances stockholder value and demonstrates our commitment to and confidence in our future prospects.

Conference Call:

The Company will host a conference call to review the information provided in this press release on Thursday, October 22, 2026, at 9:30 a.m., Central Time. The call will be available live to interested parties by calling 1-833-461-5787 in the United States and from all other locations by calling 1-585-542-9983. Participants should use participant access code 953340433. Telephone playback will be available beginning one hour following the conclusion of the call through October 27, 2026. The playback may be accessed by dialing 1-833-309-1852 in the United States and Canada, and using the conference passcode 953340433.

Balance Sheet Summary:

The Company experienced balance sheet growth during the first quarter of fiscal 2027, with total assets of $5.3 billion at September 30, 2026, an increase of $74.4 million, or 1.4%, compared to June 30, 2026. Growth was driven primarily by increases in net loans receivable, other assets, cash equivalents and time deposits, and available-for-sale (AFS) securities. The increase in other assets was primarily driven by an increase in accrued interest receivable.

Cash equivalents and time deposits were $97.1 million at September 30, 2026, an increase of $6.2 million, or 6.8%, compared to June 30, 2026. AFS securities were $454.1 million at September 30, 2026, an increase of $3.3 million, or 0.7%, compared to June 30, 2026.

Loans, net of the allowance for credit losses (ACL), were $4.4 billion at September 30, 2026, increasing by $60.5 million, or 1.4%, compared to June 30, 2026. Gross loans increased by $63.9 million, or 1.5%, to $4.5 billion, while the ACL increased by $3.4 million, compared to June 30, 2026. The Company noted growth primarily in loans collateralized by 1-4 family residential real estate, agriculture production, commercial and industrial, agriculture real estate, and construction and land development. This was partially offset by decreases in loans collateralized by multi-family real estate, non-owner occupied commercial real estate, and owner occupied commercial real estate. The table below illustrates changes in loan balances by type over recent periods:

Summary Loan Data as of:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands)		2026			2026			2026			2025			2025
1-4 Family residential real estate		$	1,118,471		$	1,085,512		$	1,063,006		$	1,043,090		$	1,021,300
Non-owner occupied commercial real estate			920,809			924,144			945,274			912,611			918,275
Owner occupied commercial real estate			469,331			471,990			476,994			460,064			454,265
Multi-family real estate			454,439			469,968			467,936			452,733			445,953
Construction and land development			314,496			310,006			279,943			298,412			283,912
Agriculture real estate			305,819			295,803			278,541			261,118			255,610
Total loans secured by real estate			3,583,365			3,557,423			3,511,694			3,428,028			3,379,315
Commercial and industrial			563,919			552,557			546,002			537,276			521,945
Agriculture production			242,444			219,155			204,447			202,892			229,338
Consumer			53,755			53,144			51,869			52,182			56,051
All other loans			12,190			9,529			8,348			6,178			5,094
Gross loans			4,455,673			4,391,808			4,322,360			4,226,556			4,191,743
Allowance for credit losses			(58,274)			(54,912)			(55,937)			(54,465)			(52,081)
Net loans		$	4,397,399		$	4,336,896		$	4,266,423		$	4,172,091		$	4,139,662

Loans anticipated to fund in the next 90 days totaled $184.8 million at September 30, 2026, as compared to $181.7 million at June 30, 2026, and $194.5 million at September 30, 2025.

The Bank’s concentration in non-owner occupied commercial real estate loans, as defined by banking regulatory guidance and including multi-family and construction and land development loans, is estimated at 277.7% of Tier 1 capital and ACL at September 30, 2026, as compared to 287.7% as of June 30, 2026, the linked quarter end, with these loans representing 37.9% of total loans at September 30, 2026. The largest component of this concentration is non-owner occupied commercial real estate, which is primarily comprised of loans secured by hospitality (hotels and restaurants), care facilities, strip centers, retail stand-alone properties, and storage units. Within this portfolio, the hospitality and retail stand-alone segments consist primarily of franchised businesses; care facilities consist mainly of skilled nursing and assisted living centers; and strip centers are generally non-mall shopping centers with a variety of tenants. The Bank’s multi-family real estate loan portfolio includes loans secured by properties currently participating in the low-income housing tax credit (LIHTC) program or that have exited the program. The largest component of the construction and land development portfolio is commercial construction, consisting primarily of loans collateralized by multi-family real estate and industrial warehouse developments. The Company continues to monitor its commercial real estate concentration and each of its individual segments closely.

Nonperforming loans (NPLs) were $26.7 million, or 0.60% of gross loans, at September 30, 2026, compared to $27.7 million, or 0.63% of gross loans, at June 30, 2026, a decrease of $996,000, or 3.6%. Nonperforming assets (NPAs) were $32.4 million, or 0.61% of total assets, at September 30, 2026, compared to $33.5 million, or 0.64% of total assets, at June 30, 2026, a decrease of $1.1 million, or 3.3%, primarily due to lower NPLs.   Performing loan modifications to borrowers experiencing financial difficulty totaled $51.1 million at September 30, 2026, compared to $31.0 million at June 30, 2026. The increase was primarily attributable to the modification of payment terms on a commercial and industrial loan.

The ACL totaled $58.3 million at September 30, 2026, representing 1.31% of gross loans and 218.6% of nonperforming loans, compared to $54.9 million, or 1.25% of gross loans and 198.6% of nonperforming loans, at June 30, 2026. The Company has estimated its expected credit losses as of September 30, 2026, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. Economic uncertainty remains, including the potential effects of elevated and uncertain interest rates, as inflation remains above the Federal Reserve's long-term target, and evolving labor market and broader economic conditions. The increase in the ACL was primarily attributable to management’s assessment of reserve adequacy amid the economic uncertainty and to support loan growth. This was partially offset by net charge-offs of $494,000 in the three-month period ended September 30, 2026. As a percentage of average loans outstanding, the Company recorded net charge offs of 0.04% (annualized) during the current quarter, as compared to 0.36% for the same quarter of the prior fiscal year, and 0.40% during the linked quarter.

Total liabilities were $4.7 billion at September 30, 2026, an increase of $63.9 million, or 1.4%, compared to June 30, 2026. Increases in total deposits and securities sold under agreements to repurchase were partially offset by a reduction in FHLB advances.

Deposits were $4.5 billion at September 30, 2026, an increase of $66.1 million, or 1.5%, compared to June 30, 2026. Certificate of deposit growth was primarily driven by non-brokered certificates of deposit and was partially offset by a decrease in brokered certificates of deposit. Nonmaturity deposit growth was primarily attributable to increases in non-brokered and brokered money market deposit accounts. This was partially offset by declines in non-interest bearing deposits, NOW accounts, and savings accounts. Public unit balances totaled $475.4 million at September 30, 2026, a decrease of $42.4 million compared to June 30, 2026, primarily due to competitive pricing dynamics on certain time deposits and normal fluctuations in operating account balances. Brokered deposits totaled $271.4 million at September 30, 2026, a decrease of $19.3 million as compared to June 30, 2026, attributable to a decrease in brokered certificates of deposit, which was partially offset by an increase in brokered money market deposit accounts. The average loan-to-deposit ratio for the first quarter of fiscal 2027 was 98.8%, as compared to 99.7% for the linked quarter, and 96.3% for the same period of the prior fiscal year. The table below illustrates changes in deposit balances by type over recent periods:

Summary Deposit Data as of:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands)		2026			2026			2026			2025			2025
Non-interest bearing deposits		$	540,595		$	560,704		$	528,601		$	526,569		$	501,885
NOW accounts			1,058,162			1,074,489			1,153,078			1,167,626			1,098,921
MMDAs - non-brokered			343,462			314,350			305,903			309,806			326,387
Brokered MMDAs			26,804			10,654			21,073			10,817			28,129
Savings accounts			705,151			707,482			718,199			701,553			715,406
Total nonmaturity deposits			2,674,174			2,667,679			2,726,854			2,716,371			2,670,728
Certificates of deposit - non-brokered			1,555,232			1,460,172			1,408,723			1,412,394			1,409,332
Brokered certificates of deposit			244,558			279,995			205,338			179,569			200,430
Total certificates of deposit			1,799,790			1,740,167			1,614,061			1,591,963			1,609,762
Total deposits		$	4,473,964		$	4,407,846		$	4,340,915		$	4,308,334		$	4,280,490
Public unit nonmaturity accounts		$	382,994		$	420,047		$	471,659		$	490,060		$	424,391
Public unit certificates of deposit			92,406			97,787			93,061			94,039			112,963
Total public unit deposits		$	475,400		$	517,834		$	564,720		$	584,099		$	537,354

FHLB advances were $122.7 million at September 30, 2026, a decrease of $7.7 million, or 5.9%, from June 30, 2026. Outstanding FHLB daily reset borrowings were $27.7 million as of September 30, 2026, as compared to $28.4 million outstanding as of June 30, 2026.

The Company’s stockholders’ equity was $601.1 million at September 30, 2026, an increase of $10.5 million, or 1.8%, compared to June 30, 2026. The increase was attributable primarily to earnings retained after cash dividends paid. This increase was partially offset by a $4.7 million increase in accumulated other comprehensive loss (AOCL), as the market value of the Company’s investments declined due to higher market interest rates, and $1.4 million used to repurchase 19,000 shares of the Company’s common stock during the first quarter of fiscal 2027 at an average price of $72.63 per share. AOCL totaled $14.4 million at September 30, 2026, as compared to $9.8 million at June 30, 2026. The Company does not hold any securities classified as held-to-maturity.

Quarterly Income Statement Summary:

The Company’s net interest income for the three-month period ended September 30, 2026, was $45.9 million, an increase of $3.5 million, or 8.3%, as compared to the same period of the prior fiscal year. The increase reflected a 4.5% increase in the average balance of interest-earning assets and a 13-basis point increase in net interest margin, from 3.57% to 3.70%. The primary driver of the net interest margin expansion, compared to the year ago period, was a decrease in the cost of interest-bearing liabilities of 19 basis points, partially offset by a decrease of four basis points in the yield on interest-earning assets.

Loan discount accretion and liability premium amortization related to the November 2018 acquisition of First Commercial Bank, the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2023 acquisition of Citizens Bank & Trust resulted in $682,000 in net interest income for the three-month period ended September 30, 2026, as compared to $876,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed approximately five basis points to net interest margin in the three-month period ended September 30, 2026, as compared to approximately seven basis points for the same period of the prior fiscal year and approximately three basis points in the linked quarter ended June 30, 2026, when net interest margin was 3.67%.

The Company recorded a PCL of $3.0 million in the three-month period ended September 30, 2026, as compared to a PCL of $4.5 million in the same period of the prior fiscal year. The current period PCL was the result of a $3.9 million provision attributable to the ACL for outstanding loan balances and a $902,000 negative provision attributable to the allowance for off-balance sheet credit exposures, primarily reflecting a lower required reserve rate on unfunded commitments. The allowance for off-balance-sheet credit exposures, included in other liabilities, totaled $3.5 million at September 30, 2026. The factors considered when estimating the required ACL and PCL for loan balances outstanding are detailed above in the “Balance Sheet Summary.”

The Company’s noninterest income for the three-month period ended September 30, 2026, was $7.1 million, an increase of $573,000, or 8.7%, as compared to the same period of the prior fiscal year. The increase was primarily driven by higher other noninterest income, reflecting increased merchant program income and the gain on sale of membership interest in a tax credit investment, and higher deposit account charges and related fees, driven by a higher volume of nonsufficient funds charges. Noninterest income also benefited from increased earnings on bank-owned life insurance, including a $150,000 mortality benefit recognized in the first quarter of fiscal 2027, and higher bank card interchange income. These increases were partially offset by lower other loan fees, as swap fees were recognized in the prior-year period but not in the current period.

Noninterest expense for the three-month period ended September 30, 2026, was $26.6 million, an increase of $1.5 million, or 6.1%, as compared to the same period of the prior fiscal year. The increase was driven primarily by an increase in compensation and benefits expense, reflecting annual merit increases, higher team member headcount, and lower compensation costs deferred related to loan originations. In addition, other noninterest expense increased primarily due to higher costs associated with deposit operations and card fraud, as well as loan collection and other lending-related activities. Occupancy and equipment expense increased due to equipment purchases, maintenance and repairs, and insurance costs, while data processing expense increased as a result of higher software, digital banking, and information security-related costs. These increases were partially offset by lower legal and professional fees, as the prior-year period included $572,000 of consulting costs associated with the negotiation of a new contract with a key vendor, with no similar activity in the current quarter, and lower intangible amortization expense following the full amortization of a core deposit intangible in the second quarter of fiscal 2026.

The efficiency ratio for the three-month period ended September 30, 2026, was 50.0%, as compared to 51.1% in the same period of the prior fiscal year. The improvement was driven by the increase in net interest income and noninterest income, which more than offset the increase in noninterest expense.

The income tax provision for the three-month period ended September 30, 2026, was $4.5 million, an increase of $678,000, or 17.9%, as compared to the same period of the prior fiscal year, primarily due to the increase in net income before income taxes. The effective tax rate for the quarter was 19.0%, compared to 19.5% in the same quarter of the prior fiscal year.

Forward-Looking Information:

Except for the historical information contained herein, the matters discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from the forward-looking statements, including: expected cost savings, synergies and other benefits from our merger and acquisition activities, might not be realized within the anticipated time frames, to the extent anticipated, or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; potential adverse impacts to economic conditions both nationally and in our local market areas and other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; the strength of the United States economy in general and the strength of the local economies in which we conduct operations; fluctuations in interest rates and inflation, including the effects of a potential recession whether caused by Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) actions or otherwise or slowed economic growth caused by changes in oil prices or supply chain disruptions; the impact of monetary and fiscal policies of the Federal Reserve Board and the U.S. Government or other governmental initiatives affecting the financial services industry; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the ACL on loans; our ability to access cost-effective funding and maintain sufficient liquidity; the timely development of and acceptance of new products and services and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors’ products and services; fluctuations in real estate values in both residential and commercial real estate markets, as well as agricultural business conditions; fluctuations in the demand for loans and deposits, including our ability to attract and retain deposits; the impact of a federal government shutdown; legislative or regulatory changes that adversely affect our business; the effects of climate change, severe weather events, other natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates; changes in accounting principles, policies, or guidelines; results of examinations of us by our regulators, including the impact on FDIC insurance premiums and the possibility that our regulators may, among other things, require an increase in our reserve for credit losses on loans or a write-down of assets; the impact of technological changes and an inability to keep pace with the rate of technological advances; the inability of key third party providers to perform their obligations to us; cyber threats, such as phishing, ransomware, and insider attacks, which can lead to financial loss, reputational damage, and regulatory penalties if sensitive customer data and critical infrastructure are not adequately protected; our ability to retain key members of our management team; and our success at managing the risks involved in the foregoing. Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements.

Non-GAAP Financial Measures:

Tangible common equity and tangible book value per common share are financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental and are not intended to be a substitute for analyses based on GAAP measures. As other companies may utilize different methodologies for calculating these measures, this presentation may not be comparable to similarly titled measures used by other institutions.

Tangible common equity is calculated by excluding intangible assets from common stockholders’ equity. Tangible book value per common share is calculated by dividing tangible common equity by common shares outstanding, less restricted common shares not vested. For comparison, book value per common share is calculated by dividing common stockholders’ equity by common shares outstanding, less restricted common shares not vested. This approach is consistent with the treatment applied by bank regulatory agencies, which generally exclude intangible assets from the calculation of risk-based capital ratios.

Each of these non-GAAP financial measures provides information considered important to investors and is useful in understanding the Company’s capital position. Calculations of tangible common equity and tangible book value per common share to the corresponding GAAP measures of common stockholders’ equity and book value per common share are presented below.   

Southern Missouri Bancorp, Inc.
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Summary Balance Sheet Data as of:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands, except per share data)		2026			2026			2026			2025			2025
Cash equivalents and time deposits		$	97,134		$	90,966		$	93,286		$	134,309		$	124,358
Available-for-sale (AFS) securities			454,058			450,775			439,115			444,965			453,855
FHLB/FRB membership stock			19,857			20,111			18,863			18,552			18,489
Loans held for sale			421			1,787			1,033			1,271			277
Loans receivable, gross			4,455,673			4,391,808			4,322,360			4,226,556			4,191,743
Allowance for credit losses			58,274			54,912			55,937			54,465			52,081
Loans receivable, net			4,397,399			4,336,896			4,266,423			4,172,091			4,139,662
Bank-owned life insurance			77,472			77,117			77,155			76,793			76,240
Intangible assets			69,930			70,620			71,329			72,049			72,866
Premises and equipment			92,794			93,191			93,366			94,560			95,211
Other assets			100,193			93,438			80,894			79,797			55,374
Total assets		$	5,309,258		$	5,234,901		$	5,141,464		$	5,094,387		$	5,036,332
Interest-bearing deposits		$	3,933,369		$	3,847,142		$	3,812,314		$	3,781,765		$	3,778,605
Noninterest-bearing deposits			540,595			560,704			528,601			526,569			501,885
Securities sold under agreements to repurchase			25,000			20,000			20,000			20,000			20,000
FHLB advances			122,714			130,424			105,033			102,041			102,029
Other liabilities			70,639			70,187			78,758			73,417			50,371
Subordinated debt			15,793			15,766			23,248			23,235			23,221
Total liabilities			4,708,110			4,644,223			4,567,954			4,527,027			4,476,111
Total stockholders’ equity			601,148			590,678			573,510			567,360			560,221
Total liabilities and stockholders’ equity		$	5,309,258		$	5,234,901		$	5,141,464		$	5,094,387		$	5,036,332
Equity to assets ratio			11.32	%		11.28	%		11.15	%		11.14	%		11.12	%
Common shares outstanding			10,994,612			11,011,109			11,015,112			11,142,733			11,290,667
Less: Restricted common shares not vested			46,740			46,740			50,525			49,075			48,675
Common shares for book value determination			10,947,872			10,964,369			10,964,587			11,093,658			11,241,992
Book value per common share		$	54.91		$	53.87		$	52.31		$	51.14		$	49.83
Less: Intangible assets per common share			6.39			6.44			6.51			6.49			6.48
Tangible book value per common share (1)			48.52			47.43			45.80			44.65			43.35
Closing market price			70.90			76.21			63.94			59.12			52.56

(1)   Non-GAAP financial measure.

Nonperforming asset data as of:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands)		2026			2026			2026			2025			2025
Nonaccrual loans		$	26,659		$	27,655		$	30,135		$	29,655		$	26,031
Accruing loans 90 days or more past due			—			—			—			—			—
Total nonperforming loans			26,659			27,655			30,135			29,655			26,031
Other real estate owned (OREO)			5,710			5,631			1,795			1,536			1,006
Personal property repossessed			23			209			23			5			45
Total nonperforming assets		$	32,392		$	33,495		$	31,953		$	31,196		$	27,082
Total nonperforming assets to total assets			0.61	%		0.64	%		0.62	%		0.61	%		0.54	%
Total nonperforming loans to gross loans			0.60	%		0.63	%		0.70	%		0.70	%		0.62	%
Allowance for credit losses to nonperforming loans			218.59	%		198.56	%		185.62	%		183.66	%		200.07	%
Allowance for credit losses to gross loans			1.31	%		1.25	%		1.29	%		1.29	%		1.24	%
Performing modifications to borrowers experiencing financial difficulty		$	51,096		$	30,989		$	31,672		$	32,048		$	27,072

		For the three-month period ended
Quarterly Summary Income Statement Data:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands, except per share data)		2026			2026			2026			2025			2025
Interest income:
Cash equivalents		$	409		$	430		$	659		$	1,059		$	1,114
AFS securities and membership stock			5,248			4,960			4,902			5,198			5,456
Loans receivable			70,170			67,375			65,398			65,975			66,460
Total interest income			75,827			72,765			70,959			72,232			73,030
Interest expense:
Deposits			28,178			26,398			26,172			27,699			28,940
Securities sold under agreements to repurchase			233			202			200			204			200
FHLB advances			1,178			1,433			1,070			1,080			1,081
Subordinated debt			297			325			362			379			391
Total interest expense			29,886			28,358			27,804			29,362			30,612
Net interest income			45,941			44,407			43,155			42,870			42,418
Provision for credit losses			2,954			3,194			2,080			1,680			4,500
Noninterest income:
Deposit account charges and related fees			2,544			2,356			2,331			2,429			2,365
Bank card interchange income			1,651			1,744			1,592			1,614			1,530
Loan servicing fees			249			247			245			250			263
Other loan fees			87			79			27			164			194
Net realized gains on sale of loans			127			336			226			167			175
Earnings on bank owned life insurance			726			794			677			552			548
Insurance brokerage commissions			325			414			353			345			319
Wealth management fees			831			1,041			944			936			851
Other noninterest income			606			347			695			319			328
Total noninterest income			7,146			7,358			7,090			6,776			6,573
Noninterest expense:
Compensation and benefits			14,590			14,130			14,054			13,651			13,065
Occupancy and equipment, net			4,010			3,787			4,040			3,834			3,788
Data processing expense			2,650			2,650			2,770			2,666			2,513
Telecommunications expense			253			288			308			309			347
Deposit insurance premiums			570			480			495			600			620
Legal and professional fees			549			633			521			478			1,075
Advertising			635			580			553			538			614
Postage and office supplies			282			363			373			333			300
Intangible amortization			687			702			709			808			857
Foreclosed property expenses, net			108			43			108			31			58
Other noninterest expense			2,234			1,889			2,292			2,022			1,814
Total noninterest expense			26,568			25,545			26,223			25,270			25,051
Net income before income taxes			23,565			23,026			21,942			22,696			19,440
Income taxes			4,468			2,747			4,181			4,546			3,790
Net income			19,097			20,279			17,761			18,150			15,650
Less: Distributed and undistributed earnings allocated
to participating securities			81			86			81			79			67
Net income available to common shareholders		$	19,016		$	20,193		$	17,680		$	18,071		$	15,583
Basic earnings per common share		$	1.73		$	1.84		$	1.60		$	1.62		$	1.39
Diluted earnings per common share			1.73			1.83			1.60			1.62			1.38
Dividends per common share			0.27			0.25			0.25			0.25			0.25
Average common shares outstanding:
Basic			10,964,000			10,966,000			11,041,000			11,153,000			11,247,000
Diluted			11,012,000			11,009,000			11,075,000			11,179,000			11,272,000

		For the three-month period ended
Quarterly Average Balance Sheet Data:		Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands)		2026			2026			2026			2025			2025
Interest-bearing cash equivalents		$	39,298		$	39,923		$	68,374		$	103,156		$	97,948
AFS securities and membership stock			489,208			473,931			469,515			478,219			493,125
Loans receivable, gross			4,394,671			4,343,778			4,235,274			4,181,158			4,118,859
Total interest-earning assets			4,923,177			4,857,632			4,773,163			4,762,533			4,709,932
Other assets			343,666			336,502			342,334			321,042			302,630
Total assets		$	5,266,843		$	5,194,134		$	5,115,497		$	5,083,575		$	5,012,562
Interest-bearing deposits		$	3,883,370		$	3,804,517		$	3,793,242		$	3,782,764		$	3,741,361
Securities sold under agreements to repurchase			23,044			20,000			20,000			20,000			18,043
FHLB advances			112,901			140,095			103,556			102,046			102,410
Subordinated debt			15,780			19,506			23,241			23,228			23,215
Total interest-bearing liabilities			4,035,095			3,984,118			3,940,039			3,928,038			3,885,029
Noninterest-bearing deposits			564,472			553,513			528,820			541,110			533,809
Other noninterest-bearing liabilities			70,438			74,548			74,431			51,411			41,937
Total liabilities			4,670,005			4,612,179			4,543,290			4,520,559			4,460,775
Total stockholders’ equity			596,838			581,955			572,207			563,016			551,787
Total liabilities and stockholders’ equity		$	5,266,843		$	5,194,134		$	5,115,497		$	5,083,575		$	5,012,562
Return on average assets			1.44	%		1.57	%		1.41	%		1.42	%		1.24	%
Return on average common stockholders’ equity			12.7	%		14.0	%		12.6	%		12.8	%		11.3	%
Net interest margin			3.70	%		3.67	%		3.67	%		3.57	%		3.57	%
Net interest spread			3.17	%		3.16	%		3.17	%		3.05	%		3.02	%
Efficiency ratio			50.0	%		49.3	%		52.2	%		50.9	%		51.1	%

Stefan Chkautovich, CFO, 573-778-1800

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Southern Missouri Bancorp’s fiscal first-quarter 2027 earnings?

Preliminary net income was $19.1 million, up 22.0% from the same quarter a year earlier. Preliminary diluted earnings were $1.73 per share, compared with $1.38 a year earlier and $0.10 below the preceding quarter.

When will SMBC pay its $0.27 quarterly dividend?

Southern Missouri Bancorp will pay its $0.27 per common share quarterly dividend on November 30, 2026, to stockholders of record at the close of business November 13, 2026. The board declared the dividend on October 20, 2026.

Did Southern Missouri Bancorp have nonrecurring consulting expenses in fiscal first-quarter 2027?

There were no similar charges in the current quarter to the $572,000 of nonrecurring consulting expenses incurred a year earlier for renegotiating a bank contract. Those prior-year expenses reduced after-tax net income by $444,000, or $0.04 per diluted common share.