SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR SECOND QUARTER OF FISCAL 2026; DECLARES QUARTERLY DIVIDEND OF $0.25 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, JANUARY 22, AT 9:30 AM CENTRAL TIME

Rhea-AI Summary

Southern Missouri Bancorp (NASDAQ: SMBC) reported preliminary second-quarter fiscal 2026 results with net income of $18.2 million, up 23.9% year-over-year, and diluted EPS of $1.62, up $0.32 YoY. Annualized ROAA was 1.42% and return on average common equity was 12.8%. Net interest income rose to $42.9 million (+12.4% YoY) and net interest margin was 3.57%. Gross loans totaled $4.226 billion and total assets were $5.1 billion. Tangible book value per share was $44.65 (+14.8% YoY).

The board declared a quarterly cash dividend of $0.25 per share payable February 27, 2026 (record date February 13, 2026), and authorized repurchases of up to 550,000 shares (~5% outstanding).

Positive

• Net income +23.9% YoY to $18.2 million
• Diluted EPS $1.62, +24.6% YoY
• Net interest income +12.4% YoY to $42.9 million
• Tangible book value per share $44.65, +14.8% YoY
• Board authorized repurchase up to 550,000 shares (~5%)
• Quarterly dividend $0.25 per share payable Feb 27, 2026

Negative

• Nonperforming loans $29.7M (0.70% of gross loans), up from $23.0M
• ACL coverage of NPLs 184%, down from 224% at June 30, 2025
• Reversal of $678,000 accrued interest reduced net interest income

Poplar Bluff, Missouri, Jan. 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 second quarter of fiscal 2026 of $18.2 million, an increase of $3.5 million, or 23.9%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase in net interest income, partially offset by increases in provision for credit loss (PCL) expense, and noninterest expense, and lower noninterest income. Preliminary net income was $1.62 per fully diluted common share for the second quarter of fiscal 2026, an increase of $0.32 as compared to the $1.30 per fully diluted common share reported for the same period of the prior fiscal year.     

Highlights for the second quarter of fiscal 2026:

• Earnings per common share (diluted) was $1.62, up $0.32, or 24.6%, as compared to the same quarter a year ago, and up $0.24, or 17.4% from the first quarter of fiscal 2026, the linked quarter.
  
  
• Annualized return on average assets (“ROAA”) was 1.42%, while annualized return on average common equity was 12.8%, as compared to 1.20% and 11.4%, respectively, in the same quarter a year ago, and 1.24% and 11.3%, respectively, in the first quarter of fiscal 2026, the linked quarter.
  
  
• Net interest margin for the quarter was 3.57%, as compared to 3.34% reported for the year ago period, and as compared to 3.57% reported for the first quarter of fiscal 2026, the linked quarter. Net interest income increased $4.7 million, or 12.4%, as compared to the same quarter a year ago, and increased $452,000, or 1.1%, from the first quarter of fiscal 2026, the linked quarter.
  
  
• Gross loan balances as of December 31, 2025, increased by $34.8 million, or 0.8%, as compared to September 30, 2025, and by $199.6 million, or 5.0%, as compared to December 31, 2024.
  
  
• Tangible book value per share was $44.65, having increased by $5.74, or 14.8%, as compared to December 31, 2024.
  
  
• The Company repurchased 148,000 shares of its common stock in the second quarter of fiscal 2026 at an average price of $54.32 per share, for a total of $8.1 million. The average purchase price was 122% of our tangible book value as of December 31, 2025.
  
  
• The Board of Directors authorized a new share repurchase program for up to approximately 5% of outstanding common shares, following the near completion of the prior authorization.
    
  Dividend Declared:

The Board of Directors, on January 20, 2026, declared a quarterly cash dividend on common stock of $0.25, payable February 27, 2026, to stockholders of record at the close of business on February 13, 2026, marking the 127th 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.

Share Repurchase Authorization:

On January 20, 2026, the Board of Directors approved a new authorization to repurchase up to 550,000 shares of the Company’s common stock, or approximately 5.0% of shares outstanding, following the near completion of the Company’s prior repurchase program announced on May 20, 2021. Repurchases may be made from time to time in the open market or in privately negotiated transactions, subject to market conditions and other factors. Any shares repurchased will be held as treasury shares for general corporate purposes.

As of January 21, 2026, the Company had repurchased nearly all shares authorized under the prior program at an average cost of $48.28 per share. The prior program permitted the repurchase of up to 445,000 shares.
  
Conference Call:

The Company will host a conference call to review the information provided in this press release on Thursday, January 22, 2026, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-833-470-1428. Participants should use participant access code 915129. Telephone playback will be available beginning one hour following the conclusion of the call through January 27, 2026. The playback may be accessed by dialing 1-866-813-9403, and using the conference passcode 450286.

Balance Sheet Summary:

The Company experienced balance sheet growth in the first six months of fiscal 2026, with total assets of $5.1 billion at December 31, 2025, reflecting an increase of $74.8 million, or 1.5%, as compared to June 30, 2025. Growth primarily reflected an increase in net loans receivable, partially offset by decreases in cash equivalents and time deposits and available for sale (AFS) securities.

Cash equivalents and time deposits were a combined $134.3 million at December 31, 2025, a decrease of $58.8 million, or 30.4%, as compared to June 30, 2025. The decrease was primarily the result of loan growth that outpaced deposit generation during the period. AFS securities were $445.0 million at December 31, 2025, down $15.9 million, or 3.4%, as compared to June 30, 2025, reflecting normal principal amortization as well as early redemptions from callable securities, which accelerated portfolio runoff during the period.

Loans, net of the allowance for credit losses (ACL), were $4.2 billion at December 31, 2025, increasing by $123.1 million, or 3.0%, as compared to June 30, 2025. The Company noted growth primarily in 1-4 family residential real estate, multi-family real estate, commercial and industrial, both non-owner and owner occupied commercial real estate, and agriculture real estate loan balances. This was somewhat offset by decreases in construction and land development loans, agricultural production loans, and consumer loans. The table below illustrates changes in loan balances by type over recent periods:

Summary Loan Data as of:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands)		2025			2025			2025			2025			2024
1-4 Family residential real estate		$	1,043,090		$	1,021,300		$	992,445		$	978,908		$	967,196
Non-owner occupied commercial real estate			912,611			918,275			888,317			897,125			882,484
Owner occupied commercial real estate			460,064			454,265			442,984			440,282			435,392
Multi-family real estate			452,733			445,953			422,758			405,445			376,081
Construction and land development			298,412			283,912			332,405			323,499			393,388
Agriculture real estate			261,118			255,610			244,983			247,027			239,912
Total loans secured by real estate			3,428,028			3,379,315			3,323,892			3,292,286			3,294,453
Commercial and industrial			537,276			521,945			510,259			488,116			484,799
Agriculture production			202,892			229,338			206,128			186,058			188,284
Consumer			52,182			56,051			55,387			54,022			56,017
All other loans			6,178			5,094			5,102			3,216			3,628
Total loans			4,226,556			4,191,743			4,100,768			4,023,698			4,027,181
Deferred loan fees, net			—			—			(178)			(189)			(202)
Gross loans			4,226,556			4,191,743			4,100,590			4,023,509			4,026,979
Allowance for credit losses			(54,465)			(52,081)			(51,629)			(54,940)			(54,740)
Net loans		$	4,172,091		$	4,139,662		$	4,048,961		$	3,968,569		$	3,972,239

Loans anticipated to fund in the next 90 days totaled $159.1 million at December 31, 2025, as compared to $194.5 million at September 30, 2025, and $172.5 million at December 31, 2024.

The Bank’s concentration in non-owner occupied commercial real estate, as defined for regulatory purposes, is estimated at 289.4% of Tier 1 capital and ACL at December 31, 2025, as compared to 301.9% as of June 30, 2025, with these loans representing 39.4% of gross loans at December 31, 2025. Multi-family residential real estate, hospitality (hotels/restaurants), care facilities, strip centers, retail stand-alone, and storage units are the most common collateral types within the non-owner occupied commercial real estate loan portfolio. The multi-family residential real estate loan portfolio commonly includes loans collateralized by properties currently in the low-income housing tax credit (LIHTC) program or that have exited the program. The hospitality and retail stand-alone segments include primarily franchised businesses; care facilities consisting mainly of skilled nursing and assisted living centers; and strip centers, which can be defined as non-mall shopping centers with a variety of tenants. Non-owner-occupied office property types included 35 loans totaling $21.1 million, or 0.50% of gross loans at December 31, 2025, none of which were adversely classified, and are generally comprised of smaller spaces with diverse tenants. The Company continues to monitor its commercial real estate concentration and the individual segments closely.

Nonperforming loans (NPLs) were $29.7 million, or 0.70% of gross loans, at December 31, 2025, as compared to $23.0 million, or 0.56% of gross loans at June 30, 2025. Nonperforming assets (NPAs) were $31.2 million, or 0.61% of total assets, at December 31, 2025, as compared to $23.7 million, or 0.47% of total assets, at June 30, 2025. The change in NPAs was primarily attributable to the noted increase in NPLs. The increase in NPLs was primarily attributable to two borrower relationships: one consisting of multiple loans collateralized by commercial real estate and equipment; and the other, consisting of two related agricultural production loans secured by crops and equipment, partially offset by improvement in previously nonperforming loans and net charge-offs. Both relationships noted were placed on nonaccrual status during the second quarter of fiscal 2026, resulting in the reversal of $678,000 of accrued interest during the quarter, decreasing net interest income.

The ACL at December 31, 2025, totaled $54.5 million, representing 1.29% of gross loans and 184% of NPLs, as compared to an ACL of $51.6 million, representing 1.26% of gross loans and 224% of NPLs, at June 30, 2025. The Company has estimated its expected credit losses as of December 31, 2025, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. There remains, however, significant economic uncertainty despite recent reductions in short-term interest rates as labor market conditions soften, and inflation remains above target. The increase in the ACL was primarily attributable to management’s assessment of reserve adequacy amid an evolving economic environment, additions to individually reviewed loans, slightly higher reserves required for pooled loans, and loan growth. This was partially offset by net charge-offs. As a percentage of average loans outstanding, the Company recorded net recoveries of 0.07% (annualized) during the current quarter, as compared to net charge-offs of 0.02% for the same quarter of the prior fiscal year, and net charge-offs of 0.36% during the linked quarter. In the three-month period ended December 31, 2025, net recoveries were $704,000, which was primarily attributable to a $2.0 million recovery associated with a special-purpose CRE relationship, which was reserved for in the fourth quarter of fiscal 2025 and charged off in the first quarter of fiscal 2026.

Total liabilities were $4.5 billion at December 31, 2025, an increase of $52.1 million, or 1.2%, as compared to June 30, 2025.

Deposits were $4.3 billion at December 31, 2025, an increase of $27.0 million, or 0.63%, as compared to June 30, 2025. The deposit portfolio saw year-to-date increases in nonmaturity deposit accounts, which was partially offset by a decrease in certificates of deposit. Nonmaturity deposit growth was primarily driven by savings, NOW, and non-interest bearing accounts. The decrease in certificates of deposit was largely driven by a $54.1 million reduction in brokered certificates compared to June 30, 2025. Brokered deposits totaled $182.2 million at December 31, 2025, a decrease of $52.9 million as compared to June 30, 2025. Public unit balances totaled $584.1 million at December 31, 2025, an increase of $33.3 million compared to June 30, 2025, primarily due to seasonal inflows. The average loan-to-deposit ratio for the second quarter of fiscal 2026 was 96.7%, as compared to 94.5% for the quarter ended June 30, 2025, and 96.4% 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:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands)		2025			2025			2025			2025			2024
Non-interest bearing deposits		$	526,569		$	501,885		$	508,110		$	513,418		$	514,199
NOW accounts			1,167,626			1,098,921			1,132,298			1,167,296			1,211,402
MMDAs - non-brokered			317,987			334,492			329,837			345,810			347,271
Brokered MMDAs			2,636			20,024			1,414			2,013			3,018
Savings accounts			701,553			715,406			661,115			626,175			573,291
Total nonmaturity deposits			2,716,371			2,670,728			2,632,774			2,654,712			2,649,181
Certificates of deposit - non-brokered			1,412,394			1,409,332			1,414,945			1,373,109			1,310,421
Brokered certificates of deposit			179,569			200,430			233,649			233,561			251,025
Total certificates of deposit			1,591,963			1,609,762			1,648,594			1,606,670			1,561,446
Total deposits		$	4,308,334		$	4,280,490		$	4,281,368		$	4,261,382		$	4,210,627
Public unit nonmaturity accounts		$	490,060		$	424,391		$	435,632		$	472,010		$	482,406
Public unit certificates of deposit			94,039			112,963			115,204			103,741			83,506
Total public unit deposits		$	584,099		$	537,354		$	550,836		$	575,751		$	565,912

FHLB advances were $102.0 million at December 31, 2025, a decrease of $2.0 million, or 1.9%, as compared to June 30, 2025, due to maturing advances which were not renewed. For the quarter ended December 31, 2025, the Company continued to have no FHLB overnight borrowings at the end of the period.  

The Company’s stockholders’ equity was $567.4 million at December 31, 2025, an increase of $22.7 million, or 4.2%, as compared to June 30, 2025. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $2.7 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to the decrease in market interest rates. The AOCL totaled $8.6 million at December 31, 2025 compared $11.4 million at June 30, 2025. The Company does not hold any securities classified as held-to-maturity. The increase in stockholders’ equity was partially offset by $8.5 million utilized for repurchase of 156,000 shares of the Company’s common stock year-to-date at an average price of $54.34 per share.
   

Quarterly Income Statement Summary:

The Company’s net interest income for the three-month period ended December 31, 2025, was $42.9 million, an increase of $4.7 million, or 12.4%, as compared to the same period of the prior fiscal year. The increase was attributable to a 5.0% increase in the average balance of interest-earning assets and a 23-basis point increase in the net interest margin, from 3.34% to 3.57%, as the cost of interest-bearing liabilities decreased by 33 basis points, partially offset by a six-basis point decrease in the yield earned 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 2024 acquisition of Citizens Bank & Trust resulted in $653,000 in net interest income for the three-month period ended December 31, 2025, as compared to $987,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed five basis points to net interest margin in the three-month period ended December 31, 2025, compared to nine basis points during the same period of the prior fiscal year, and as compared to a seven-basis point contribution in the linked quarter, ended September 30, 2025, when the net interest margin was 3.57%.

The Company recorded a PCL of $1.7 million in the three-month period ended December 31, 2025, as compared to a PCL of $932,000 in the same period of the prior fiscal year. The current period PCL had no provision attributable to the allowance for off-balance sheet credit exposures. The factors considered when estimating a required ACL and PCL for loan balances outstanding is detailed above in the “Balance Sheet Summary”.

The Company’s noninterest income for the three-month period ended December 31, 2025, was $6.8 million, a decrease of $89,000, or 1.3%, as compared to the same period of the prior fiscal year. The decrease was primarily attributable to other loan fees, reflecting a refinement of our fee recognition under ASC 310-20, Receivables – Nonrefundable Fees and Other Costs, with a greater portion now recognized in interest income over the life of the loan. The decrease was partially offset by an increase in bank card interchange income, deposit account charges and related fees, and wealth management fees.

Noninterest expense for the three-month period ended December 31, 2025, was $25.3 million, an increase of $394,000, or 1.6%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to higher data processing, occupancy and equipment, and advertising expenses. Data processing costs increased due to higher transaction volumes and increased software licensing costs. Occupancy and equipment expense growth was primarily driven by elevated maintenance and repair costs, additional depreciation associated with a new branch and remodel projects, and higher real estate taxes. Advertising expense increased due to increased marketing activity and charitable contributions. These increases were partially offset by lower legal and professional fees, reduced intangible amortization as certain merger-related intangibles became fully amortized, and lower compensation and benefits expense, reflecting refinements in the application of ASC 310-20, under which a greater portion of loan origination costs, including related compensation, is deferred and recognized as a reduction of interest income over the life of the loan.

The efficiency ratio for the three-month period ended December 31, 2025, improved to 50.9%, as compared to 55.3% in the same period of the prior fiscal year. The improvement reflected positive operating leverage, as revenue growth driven by higher net interest income outpaced growth in operating expenses.

The income tax provision for the three-month period ended December 31, 2025, was $4.5 million, consistent with the same period in 2024. The effective tax rate for the current quarter was 20.0%, compared to 23.7% for the quarter ended December 31, 2024. The higher effective tax rate in the prior-year quarter primarily reflected adjustments to tax accruals related to completed merger and acquisition activity.

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, including our recently completed acquisitions, 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:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands, except per share data)		2025			2025			2025			2025			2024
Cash equivalents and time deposits		$	134,309		$	124,358		$	193,105		$	227,136		$	146,078
Available for sale (AFS) securities			444,965			453,855			460,844			462,930			468,060
FHLB/FRB membership stock			18,552			18,489			18,500			18,269			18,099
Loans held for sale			1,271			277			431			—			—
Loans receivable, gross			4,226,556			4,191,743			4,100,590			4,023,509			4,026,979
Allowance for credit losses			54,465			52,081			51,629			54,940			54,740
Loans receivable, net			4,172,091			4,139,662			4,048,961			3,968,569			3,972,239
Bank-owned life insurance			76,793			76,240			75,691			75,156			74,643
Intangible assets			72,049			72,866			73,721			74,677			75,399
Premises and equipment			94,560			95,211			95,982			95,987			96,418
Other assets			79,797			55,374			52,372			53,772			56,738
Total assets		$	5,094,387		$	5,036,332		$	5,019,607		$	4,976,496		$	4,907,674
Interest-bearing deposits		$	3,781,765		$	3,778,605		$	3,773,258		$	3,747,964		$	3,696,428
Noninterest-bearing deposits			526,569			501,885			508,110			513,418			514,199
Securities sold under agreements to repurchase			20,000			20,000			15,000			15,000			15,000
FHLB advances			102,041			102,029			104,052			104,072			107,070
Other liabilities			73,417			50,371			51,287			44,057			39,424
Subordinated debt			23,235			23,221			23,208			23,195			23,182
Total liabilities			4,527,027			4,476,111			4,474,915			4,447,706			4,395,303
Total stockholders’ equity			567,360			560,221			544,692			528,790			512,371
Total liabilities and stockholders’ equity		$	5,094,387		$	5,036,332		$	5,019,607		$	4,976,496		$	4,907,674
Equity to assets ratio			11.14	%		11.12	%		10.85	%		10.63	%		10.44	%
Common shares outstanding			11,142,733			11,290,667			11,299,467			11,299,962			11,277,167
Less: Restricted common shares not vested			49,075			48,675			50,163			50,658			46,653
Common shares for book value determination			11,093,658			11,241,992			11,249,304			11,249,304			11,230,514
Book value per common share		$	51.14		$	49.83		$	48.42		$	47.01		$	45.62
Less: Intangible assets per common share			6.49			6.48			6.55			6.64			6.71
Tangible book value per common share (1)			44.65			43.35			41.87			40.37			38.91
Closing market price			59.12			52.56			54.78			52.02			57.37

(1)   Non-GAAP financial measure.

Nonperforming asset data as of:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands)		2025			2025			2025			2025			2024
Nonaccrual loans		$	29,655		$	26,031		$	23,040		$	21,970		$	8,309
Accruing loans 90 days or more past due			—			—			—			—			—
Total nonperforming loans			29,655			26,031			23,040			21,970			8,309
Other real estate owned (OREO)			1,536			1,006			625			1,775			2,423
Personal property repossessed			5			45			32			56			37
Total nonperforming assets		$	31,196		$	27,082		$	23,697		$	23,801		$	10,769
Total nonperforming assets to total assets			0.61	%		0.54	%		0.47	%		0.48	%		0.22	%
Total nonperforming loans to gross loans			0.70	%		0.62	%		0.56	%		0.55	%		0.21	%
Allowance for credit losses to nonperforming loans			183.66	%		200.07	%		224.08	%		250.07	%		658.80	%
Allowance for credit losses to gross loans			1.29	%		1.24	%		1.26	%		1.37	%		1.36	%
Performing modifications to borrowers experiencing financial difficulty		$	32,048		$	27,072		$	26,642		$	23,304		$	24,083

		For the three-month period ended
Quarterly Summary Income Statement Data:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands, except per share data)		2025			2025			2025			2025			2024
Interest income:
Cash equivalents		$	1,059		$	1,114		$	1,698		$	1,585		$	784
AFS securities and membership stock			5,198			5,456			5,586			5,684			5,558
Loans receivable			65,975			66,460			63,354			62,656			63,082
Total interest income			72,232			73,030			70,638			69,925			69,424
Interest expense:
Deposits			27,699			28,940			28,644			28,795			29,538
Securities sold under agreements to repurchase			204			200			191			189			226
FHLB advances			1,080			1,081			1,080			1,076			1,099
Subordinated debt			379			391			390			386			418
Total interest expense			29,362			30,612			30,305			30,446			31,281
Net interest income			42,870			42,418			40,333			39,479			38,143
Provision for credit losses			1,680			4,500			2,500			932			932
Noninterest income:
Deposit account charges and related fees			2,429			2,365			2,156			2,048			2,237
Bank card interchange income			1,614			1,530			1,839			1,341			1,301
Loan servicing fees			250			263			167			224			232
Other loan fees			164			194			917			843			944
Net realized gains on sale of loans			167			175			143			114			133
Net realized gains on sale of AFS securities			—			—			—			48			—
Earnings on bank owned life insurance			552			548			533			512			522
Insurance brokerage commissions			345			319			368			340			300
Wealth management fees			936			851			825			902			843
Other noninterest income			319			328			332			294			353
Total noninterest income			6,776			6,573			7,280			6,666			6,865
Noninterest expense:
Compensation and benefits			13,651			13,065			13,852			13,771			13,737
Occupancy and equipment, net			3,834			3,788			3,745			3,869			3,585
Data processing expense			2,666			2,513			2,573			2,359			2,224
Telecommunications expense			309			347			312			330			354
Deposit insurance premiums			600			620			601			674			588
Legal and professional fees			478			1,075			1,165			603			619
Advertising			538			614			551			530			442
Postage and office supplies			333			300			336			350			283
Intangible amortization			808			857			857			889			897
Foreclosed property expenses, net			31			58			(18)			37			73
Other noninterest expense			2,022			1,814			2,002			1,979			2,074
Total noninterest expense			25,270			25,051			25,976			25,391			24,876
Net income before income taxes			22,696			19,440			19,137			19,822			19,200
Income taxes			4,546			3,790			3,351			4,139			4,547
Net income			18,150			15,650			15,786			15,683			14,653
Less: Distributed and undistributed earnings allocated
to participating securities			79			67			71			71			61
Net income available to common shareholders		$	18,071		$	15,583		$	15,715		$	15,612		$	14,592
Basic earnings per common share		$	1.62		$	1.39		$	1.40		$	1.39		$	1.30
Diluted earnings per common share			1.62			1.38			1.39			1.39			1.30
Dividends per common share			0.25			0.25			0.23			0.23			0.23
Average common shares outstanding:
Basic			11,153,000			11,247,000			11,250,000			11,238,000			11,231,000
Diluted			11,179,000			11,272,000			11,270,000			11,262,000			11,260,000

		For the three-month period ended
Quarterly Average Balance Sheet Data:		Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,
(dollars in thousands)		2025			2025			2025			2025			2024
Interest-bearing cash equivalents		$	103,156		$	97,948		$	151,380		$	143,206		$	64,976
AFS securities and membership stock			478,219			493,125			498,491			508,642			479,633
Loans receivable, gross			4,181,158			4,118,859			4,018,769			4,003,552			3,989,643
Total interest-earning assets			4,762,533			4,709,932			4,668,640			4,655,400			4,534,252
Other assets			321,042			302,630			299,217			290,739			291,217
Total assets		$	5,083,575		$	5,012,562		$	4,967,857		$	4,946,139		$	4,825,469
Interest-bearing deposits		$	3,782,764		$	3,741,361		$	3,727,836		$	3,737,849		$	3,615,767
Securities sold under agreements to repurchase			20,000			18,043			15,000			15,000			15,000
FHLB advances			102,046			102,410			104,053			106,187			107,054
Subordinated debt			23,228			23,215			23,201			23,189			23,175
Total interest-bearing liabilities			3,928,038			3,885,029			3,870,090			3,882,225			3,760,996
Noninterest-bearing deposits			541,110			533,809			524,860			513,157			524,878
Other noninterest-bearing liabilities			51,411			41,937			37,014			31,282			31,442
Total liabilities			4,520,559			4,460,775			4,431,964			4,426,664			4,317,316
Total stockholders’ equity			563,016			551,787			535,893			519,475			508,153
Total liabilities and stockholders’ equity		$	5,083,575		$	5,012,562		$	4,967,857		$	4,946,139		$	4,825,469
Return on average assets			1.42	%		1.24	%		1.27	%		1.29	%		1.20	%
Return on average common stockholders’ equity			12.8	%		11.3	%		11.8	%		12.2	%		11.4	%
Net interest margin			3.57	%		3.57	%		3.47	%		3.44	%		3.34	%
Net interest spread			3.05	%		3.02	%		2.93	%		2.91	%		2.77	%
Efficiency ratio			50.9	%		51.1	%		54.6	%		55.1	%		55.3	%

Stefan Chkautovich, CFO
573-778-1800

FAQ

What were Southern Missouri Bancorp (SMBC) second-quarter fiscal 2026 net income and EPS?

Preliminary net income was $18.2 million and diluted EPS was $1.62 for Q2 fiscal 2026.

When is the SMBC dividend payable and what is the record date for the $0.25 dividend?

The quarterly dividend of $0.25 is payable on February 27, 2026 to holders of record at the close of business on February 13, 2026.

How many shares did SMBC repurchase in Q2 fiscal 2026 and at what average price?

The company repurchased 148,000 shares in the quarter at an average price of $54.32 per share.

How large is the new SMBC share repurchase authorization announced January 20, 2026?

The board authorized repurchases of up to 550,000 shares, approximately 5.0% of outstanding common shares.

What were SMBC's asset and loan balances at December 31, 2025?

Total assets were $5.1 billion and gross loans were $4.226 billion at December 31, 2025.

Did SMBC's credit metrics change in Q2 fiscal 2026?

Nonperforming loans rose to $29.7 million (0.70% of gross loans) and ACL coverage of NPLs was 184% at December 31, 2025.