Southern Missouri Bancorp to Acquire First Community Bank of the Ozarks
Ticker: SMBC · Form: 8-K · Filed: Apr 25, 2024 · CIK: 916907
Sentiment: neutral
Topics: acquisition, merger, expansion
TL;DR
SMBC buying FCBO to expand into Arkansas, closing Q3 2024.
AI Summary
Southern Missouri Bancorp, Inc. announced on April 23, 2024, that it has entered into a definitive agreement to acquire First Community Bank of the Ozarks. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. This acquisition will expand Southern Missouri Bancorp's presence in Arkansas.
Why It Matters
This acquisition will allow Southern Missouri Bancorp to expand its market reach into Arkansas, potentially leading to increased revenue and customer base.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, regulatory approvals, and potential impacts on financial performance.
Key Players & Entities
- Southern Missouri Bancorp, Inc. (company) — Acquiring company
- First Community Bank of the Ozarks (company) — Acquired company
- April 23, 2024 (date) — Announcement date
- Third quarter of 2024 (date) — Expected closing date
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces that Southern Missouri Bancorp, Inc. has entered into a definitive agreement to acquire First Community Bank of the Ozarks.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What is the name of the company being acquired?
The company being acquired is First Community Bank of the Ozarks.
What is the strategic benefit of this acquisition for Southern Missouri Bancorp, Inc.?
The acquisition will expand Southern Missouri Bancorp's presence in Arkansas.
Are there any specific financial figures mentioned in this filing regarding the acquisition?
This filing does not contain specific dollar amounts or financial figures related to the acquisition.
Filing Stats: 521 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-04-25 15:33:52
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SMBC The NASDAQ Stock Mar
- $0.21 — ception of the Company. The dividend of $0.21 per common share will be payable on May
Filing Documents
- smbc-20240423x8k.htm (8-K) — 44KB
- 0001558370-24-005749.txt ( ) — 155KB
- smbc-20240423.xsd (EX-101.SCH) — 3KB
- smbc-20240423_lab.xml (EX-101.LAB) — 12KB
- smbc-20240423_pre.xml (EX-101.PRE) — 10KB
- smbc-20240423x8k_htm.xml (XML) — 5KB
01. Other Events
Item 8.01. Other Events. On April 23, 2024, the Board of Directors of Southern Missouri Bancorp, Inc. (the "Company") declared its 120th consecutive quarterly dividend on common stock since the inception of the Company. The dividend of $0.21 per common share will be payable on May 31, 2024, to stockholders of record at the close of business on May 15, 2024. In other matters, the Company expects to release its preliminary operating results for the quarter ended March 31, 2024, on April 29, 2024, and expects to host a conference call to discuss the release on April 30, 2024, at 9:30 a.m., central time. The call will be available live to interested parties by calling (toll free) 1-833-470-1428 in the United States. Participants should use participant access code 296074. Telephone playback will be available beginning one hour following the conclusion of the call through May 5, 2024. The playback may be accessed by dialing 1-866-813-9403 in the United States and using the conference passcode 853973.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOUTHERN MISSOURI BANCORP, INC. Date: April 25, 2024 By: /s/ Matthew T. Funke Matthew T. Funke President and Chief Administrative Officer 2