$SMBC

SOUTHERN MISSOURI BANCORP INC

CIK:0000916907|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Interest Income
Loans	$ 265,208,000	$ 250,846,000	$ 222,512,000
Investment securities	4,962,000	5,808,000	6,877,000
Mortgage-backed securities	15,554,000	16,567,000	14,631,000
Other interest-earning assets	3,262,000	4,144,000	4,355,000
TOTAL INTEREST INCOME	288,986,000	277,365,000	248,375,000
Interest Expense
Deposits	109,209,000	115,773,000	101,706,000
Securities sold under agreements to repurchase	806,000	766,000	451,000
Advances from FHLB	4,665,000	4,582,000	4,993,000
Subordinated debt	1,457,000	1,628,000	1,742,000
TOTAL INTEREST EXPENSE	116,137,000	122,749,000	108,892,000
NET INTEREST INCOME	172,849,000	154,616,000	139,483,000
Provision for credit losses (Note 3)	11,454,000	6,523,000	3,600,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	161,395,000	148,093,000	135,883,000
Noninterest Income
Deposit account charges and related fees	9,481,000	8,625,000	7,399,000
Bank card interchange income	6,480,000	5,981,000	5,744,000
Loan late charges			579,000
Loan servicing fees	1,005,000	909,000	1,277,000
Other loan fees	464,000	3,767,000	2,375,000
Net realized gains on sale of loans	904,000	751,000	713,000
Net realized gains (losses) on sale of AFS securities	0	48,000	(1,489,000)
Earnings on bank owned life insurance	2,571,000	2,084,000	1,911,000
Insurance brokerage commissions	1,431,000	1,294,000	1,217,000
Wealth management fees	3,773,000	3,300,000	3,166,000
Other income	1,688,000	1,225,000	1,952,000
TOTAL NONINTEREST INCOME	27,797,000	27,984,000	24,844,000
Noninterest Expense
Compensation and benefits	54,899,000	55,758,000	53,253,000
Occupancy and equipment, net	15,448,000	14,887,000	14,405,000
Data processing expense	10,600,000	9,327,000	8,968,000
Telecommunications expense	1,252,000	1,423,000	1,928,000
Deposit insurance premiums	2,195,000	2,335,000	2,463,000
Legal and professional fees	2,707,000	3,595,000	1,731,000
Advertising	2,285,000	2,070,000	2,119,000
Postage and office supplies	1,369,000	1,274,000	1,237,000
Intangibles amortization	3,076,000	3,540,000	4,071,000
Foreclosed property expenses, net	240,000	104,000	148,000
Other operating expense	8,017,000	7,770,000	7,294,000
TOTAL NONINTEREST EXPENSE	102,088,000	102,083,000	97,617,000
INCOME BEFORE INCOME TAXES	87,104,000	73,994,000	63,110,000
Current	16,562,000	14,722,000	12,234,000
Deferred	(1,297,000)	694,000	694,000
TOTAL INCOME TAXES	15,265,000	15,416,000	12,928,000
NET INCOME	$ 71,839,000	$ 58,578,000	$ 50,182,000
Basic earnings per share	$ 6.44	$ 5.19	$ 4.42
Diluted earnings per share	6.43	5.18	4.42
Dividends paid per share	$ 1	$ 0.92	$ 0.84

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows From Operating Activities:
Net Income	$ 71,839,000	$ 58,578,000	$ 50,182,000
Items not requiring (providing) cash:
Depreciation	6,509,000	6,482,000	6,021,000
Loss on disposal of fixed assets		73,000
Stock option and stock grant expense	1,790,000	1,667,000	1,029,000
Loss (gain) on sale/write-down of foreclosed property	77,000	(56,000)	74,000
Amortization of intangible assets	3,076,000	3,540,000	4,071,000
Accretion of purchase accounting adjustments	(2,200,000)	(3,924,000)	(5,325,000)
Increase in cash surrender value of bank owned life insurance (BOLI)	(2,571,000)	(2,084,000)	(1,911,000)
Provision for credit losses	11,454,000	6,523,000	3,600,000
(Gain) loss realized on sale of AFS securities	0	(48,000)	1,489,000
Net amortization of premiums and discounts on securities	(778,000)	(1,511,000)	(842,000)
Originations of loans held for sale	(32,098,000)	(22,206,000)	(21,857,000)
Proceeds from sales of loans held for sale	31,646,000	23,209,000	22,044,000
Gain on sales of loans held for sale	(904,000)	(751,000)	(713,000)
Gain on sale of investment tax credit	(305,000)
Changes in:
Accrued interest receivable	(850,000)	(2,192,000)	(4,955,000)
Prepaid expenses and other assets	(6,209,000)	6,682,000	8,943,000
Accounts payable and other liabilities	3,748,000	6,217,000	(141,000)
Deferred income taxes	(1,297,000)	40,000	414,000
Accrued interest payable	(2,404,000)	1,318,000	8,145,000
Net cash provided by operating activities	80,523,000	81,557,000	70,268,000
Cash Flows From Investing Activities:
Net increase in loans	(303,952,000)	(254,933,000)	(228,444,000)
Net change in interest-bearing deposits	249,000	248,000	744,000
Proceeds from maturities of available-for-sale securities	73,249,000	68,622,000	42,322,000
Proceeds from sales of available-for-sale securities		72,000	32,243,000
Purchases of Federal Home Loan Bank stock	(17,127,000)	(12,069,000)	(13,377,000)
Redemptions of Federal Home Loan Bank stock	15,558,000	11,421,000	16,204,000
Purchases of Federal Reserve Bank of St. Louis stock	(42,000)	(50,000)	(28,000)
Purchases of available-for-sale securities	(60,344,000)	(92,288,000)	(79,837,000)
Purchases of long-term investments and other assets	(375,000)	(612,000)	(410,000)
Redemptions of long-term investments and other assets	432,000
Purchases of premises and equipment	(3,959,000)	(6,263,000)	(9,047,000)
Investments in state & federal tax credits	(10,207,000)	(3,270,000)	(7,381,000)
Proceeds from sale of fixed assets			15,000
Proceeds from sale of foreclosed assets	1,485,000	4,010,000	1,261,000
Proceeds from sale of investment tax credits	315,000
Proceeds from BOLI claim	1,150,000
Net cash used in investing activities	(303,568,000)	(285,112,000)	(245,735,000)
Cash Flows From Financing Activities:
Net increase (decrease) in demand deposits and savings accounts	34,983,000	25,152,000	(53,833,000)
Net increase in certificates of deposits	91,573,000	313,188,000	280,768,000
Net increase in securities sold under agreements to repurchase	5,000,000	5,602,000
Proceeds from Federal Home Loan Bank advances	394,300,000	260,000,000	303,200,000
Repayments of Federal Home Loan Bank advances	(367,955,000)	(258,054,000)	(334,752,000)
Repayments of long-term debt	(7,500,000)
Common stock issued			1,000
Exercise of stock options	460,000		391,000
Purchases of treasury stock	(18,577,000)		(3,857,000)
Dividends paid on common stock	(11,132,000)	(10,378,000)	(9,526,000)
Net cash provided by financing activities	121,152,000	335,510,000	182,392,000
(Decrease) increase in cash and cash equivalents	(101,893,000)	131,955,000	6,925,000
Cash and cash equivalents at beginning of period	192,859,000	60,904,000	53,979,000
Cash and cash equivalents at end of period	90,966,000	192,859,000	60,904,000
Noncash investing and financing activities:
Conversion of loans to foreclosed real estate	6,328,000	625,000	1,376,000
Conversion of loans to repossessed assets	417,000	98,000	209,000
Right of use (ROU) assets obtained in exchange for lease obligations: Operating Leases	241,000	322,000	2,332,000
Termination of lease right of use asset and related lease obligation			1,401,000
Investment tax credits obtained in exchange for delayed capital contributions	29,393,000
Investment tax credits obtained in exchange for settlement of loans	500,000
Investment tax credits cancelled in exchange for sale of membership interest	4,855,000
Cash paid during the period for:
Interest (net of interest credited)	7,813,000	8,148,000	7,706,000
Income taxes	$ 9,139,000	$ 7,530,000	$ 2,298,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Assets
Cash and cash equivalents	$ 90,966	$ 192,859
Interest-bearing time deposits		246
Available-for-sale-securities (Note 2)	450,775	460,844
Stock in FHLB	10,930	9,361
Stock in Federal Reserve Bank of St. Louis	9,181	9,139
Loans held for sale	1,787	431
Loans receivable, net of ACL of $54,912 and $51,629 at June 30, 2026 and June 30, 2025, respectively (Note 3)	4,336,896	4,048,961
Accrued interest receivable	26,868	26,018
Premises and equipment, net (Note 4)	93,191	95,982
Bank owned life insurance - cash surrender value	77,117	75,691
Goodwill	50,727	50,727
Other intangible assets, net	19,893	22,994
Prepaid expenses and other assets	68,050	26,354
TOTAL ASSETS	5,236,381	5,019,607
Liabilities and Stockholders' Equity
Deposits (Note 5)	4,407,846	4,281,368
Securities sold under agreements to repurchase (Note 6)	20,000	15,000
Advances from FHLB (Note 7)	130,424	104,052
Accounts payable and other liabilities	59,885	37,101
Accrued interest payable	11,782	14,186
Subordinated debt (Note 8)	15,766	23,208
TOTAL LIABILITIES	4,645,703	4,474,915
Commitments and contingencies (Note 13)
Common stock, $.01 par value; 25,000,000 shares authorized; 12,009,617 and 11,980,887 shares issued at June 30, 2026 and June 30, 2025, respectively	120	120
Additional paid-in capital	223,597	221,347
Retained earnings	420,283	359,576
Treasury stock of 998,508 and 681,420 shares at June 30, 2026 and June 30, 2025, respectively, at cost	(43,550)	(24,973)
Accumulated other comprehensive loss	(9,772)	(11,378)
TOTAL STOCKHOLDERS' EQUITY	590,678	544,692
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 5,236,381	$ 5,019,607