Southern Missouri Bancorp, Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

SOUTHERN MISSOURI BANCORP, INC. (SMBC) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Southern Missouri Bancorp, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's principal executive offices are located at 2991 Oak Grove Road, Poplar Bluff, MO 63901. The company's IRS number is 431665523. The company's website is http://www.bankwithsouthern.com.

Why It Matters

For investors and stakeholders tracking SOUTHERN MISSOURI BANCORP, INC., this filing contains several important signals. This filing provides investors and analysts with the latest financial data for Southern Missouri Bancorp, Inc., enabling them to assess the company's performance and make informed investment decisions. The 10-Q report contains detailed financial statements, including balance sheets, income statements, and cash flow statements, which are crucial for understanding the company's operational health and strategic direction.

Risk Assessment

Risk Level: low — SOUTHERN MISSOURI BANCORP, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments. The data presented is typical for a company of this nature.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand revenue trends, profitability, and balance sheet changes for the quarter.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)
• 6036 — SIC Code (Standard Industrial Classification)
• 431665523 — IRS Number (IRS Number)

Key Players & Entities

• SOUTHERN MISSOURI BANCORP, INC. (company) — Filer name
• SMBC (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-10 (date) — Filing date
• 2991 OAK GROVE ROAD (address) — Business street address
• POPLAR BLUFF (city) — Business city
• MO (state) — Business state
• 63901 (zip_code) — Business zip code

FAQ

Industry Context

Southern Missouri Bancorp, Inc. operates within the savings institutions sector, focusing on traditional banking services.

Regulatory Implications

The company is subject to regulations governing financial institutions, including reporting requirements under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review any disclosed footnotes for specific accounting policies or significant events.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period. No prior filing data is available for comparison within this analysis.

Filing Documents

• smbc-20240331x10q.htm (10-Q) — 5093KB
• smbc-20240331xex31d1.htm (EX-31.1) — 14KB
• smbc-20240331xex31d2.htm (EX-31.2) — 14KB
• smbc-20240331xex31d3.htm (EX-31.3) — 14KB
• smbc-20240331xex32.htm (EX-32) — 12KB
• 0001558370-24-007760.txt ( ) — 20949KB
• smbc-20240331.xsd (EX-101.SCH) — 77KB
• smbc-20240331_cal.xml (EX-101.CAL) — 126KB
• smbc-20240331_def.xml (EX-101.DEF) — 369KB
• smbc-20240331_lab.xml (EX-101.LAB) — 689KB
• smbc-20240331_pre.xml (EX-101.PRE) — 552KB
• smbc-20240331x10q_htm.xml (XML) — 5841KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 57 Item 4.

Controls and Procedures

Controls and Procedures 60 PART II. OTHER INFORMATION 61 Item 1.

Legal Proceedings

Legal Proceedings 61 Item 1a.

Risk Factors

Risk Factors 61 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61 Item 3. Defaults upon Senior Securities 61 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 61 Item 6. Exhibits 62 - Signature Page 64 Table of Contents

: Item 1 : Condensed Consolidated Financial Statements

PART I: Item 1 : Condensed Consolidated Financial Statements SOUTHERN MISSOURI BANCORP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS MARCH 31, 2024 AND JUNE 30, 2023 March 31, 2024 June 30, 2023 (dollars in thousands) (unaudited) Assets Cash and cash equivalents $ 168,273 $ 53,979 Interest-bearing time deposits 490 1,242 Available for sale securities 433,689 417,554 Stock in FHLB of Des Moines 8,667 11,540 Stock in Federal Reserve Bank of St. Louis 9,067 9,061 Loans receivable, net of ACL of $ 51,336 and $ 47,820 at March 31, 2024 and June 30, 2023, respectively 3,719,858 3,571,078 Accrued interest receivable 21,807 18,871 Premises and equipment, net 95,801 92,397 Bank owned life insurance – cash surrender value 73,101 71,684 Goodwill 50,727 50,773 Other intangible assets, net 27,322 30,472 Prepaid expenses and other assets 38,190 31,560 Total assets $ 4,646,992 $ 4,360,211 Liabilities and Stockholders' Equity Deposits $ 3,995,510 $ 3,725,540 Advances from FHLB 102,043 133,514 Accounts payable and other liabilities 34,747 27,271 Accrued interest payable 11,965 4,723 Subordinated debt 23,143 23,105 Total liabilities 4,167,408 3,914,153 Common stock, $ .01 par value; 25,000,000 shares authorized; 11,959,157 and 11,919,087 shares issued at March 31, 2024 and June 30, 2023, respectively 120 119 Additional paid-in capital 219,591 218,260 Retained earnings 300,227 270,720 Treasury stock of 593,063 and 588,625 shares at March 31, 2024 and June 30, 2023, respectively, at cost ( 21,303 ) ( 21,116 ) Accumulated other comprehensive loss ( 19,051 ) ( 21,925 ) Total stockholders' equity 479,584 446,058 Total liabilities and stockholders' equity $ 4,646,992 $ 4,360,211 See Notes to Condensed Consolidated Financial Statements -3- Table of Contents SOUTHERN MISSOURI BANCORP, INC CONDENSED CONSOLIDATED STATEMENTS OF INCOME FOR THE T

View Full Filing

View this 10-Q filing on SEC EDGAR