Security Midwest Bancorp (SBMW) 7.2% stake held by Raymond James

Rhea-AI Filing Summary

Raymond James Financial Services Advisors, Inc. filed a beneficial ownership report showing it holds 64,187 shares of Security Midwest Bancorp, Inc. common stock, representing 7.2% of the class as of 12/31/2025. The firm reports no sole or shared voting power over these shares, but has sole power to dispose of them.

Raymond James states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Security Midwest Bancorp.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Security Midwest Bancorp, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

813927100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 813927100

1

Names of Reporting Persons

Raymond James Financial Services Advisors, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 64,187.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

64,187.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Security Midwest Bancorp, Inc.
(b)	Address of issuer's principal executive offices: 510 E. MONROE, SPRINFIELD, ILLINOIS, 62701
Item 2.
(a)	Name of person filing: RAYMOND JAMES FINANCIAL SERVICES
(b)	Address or principal business office or, if none, residence: 880 CARILLON PARKWAY, ST PETERSBURG FL 33716
(c)	Citizenship: US
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 813927100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 64,187
(b)	Percent of class: 7.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 64,187
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Raymond James Financial Services Advisors, Inc.

Signature:	Rachel Jacobson
Name/Title:	Manager, Operations
Date:	01/07/2026

FAQ

What percentage of Security Midwest Bancorp (SBMW) does Raymond James report owning?

Raymond James Financial Services Advisors, Inc. reports beneficial ownership of 7.2% of Security Midwest Bancorp, Inc.'s common stock as of 12/31/2025.

How many Security Midwest Bancorp (SBMW) shares does Raymond James beneficially own?

Raymond James Financial Services Advisors, Inc. reports beneficial ownership of 64,187 shares of Security Midwest Bancorp, Inc. common stock.

Does Raymond James have voting power over its Security Midwest Bancorp (SBMW) shares?

No. The filing shows 0 shares with sole voting power and 0 shares with shared voting power. Raymond James reports only sole dispositive power over 64,187 shares.

What type of investor is Raymond James in this Security Midwest Bancorp (SBMW) filing?

Raymond James Financial Services Advisors, Inc. is identified as an investment adviser (IA) under the Schedule 13G classification.

Why did Raymond James file this beneficial ownership report for Security Midwest Bancorp (SBMW)?

The report is triggered because Raymond James' beneficial ownership in Security Midwest Bancorp, Inc. common stock reached 7.2% as of the event date 12/31/2025.

Is Raymond James seeking to influence control of Security Midwest Bancorp (SBMW)?

No. Raymond James certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Security Midwest Bancorp, Inc.