Southern Missouri Bancorp to Acquire First Bancshares for $10.5M
Ticker: SMBC · Form: 8-K · Filed: Jul 25, 2024 · CIK: 916907
Sentiment: neutral
Topics: acquisition, expansion, financials
TL;DR
SMBC buying FBNK for $10.5M to boost Springfield presence.
AI Summary
Southern Missouri Bancorp, Inc. announced on July 23, 2024, that it has entered into a definitive agreement to acquire First Bancshares of Springfield, Inc. The transaction is valued at approximately $10.5 million. This acquisition is expected to expand Southern Missouri Bancorp's presence in the Springfield, Missouri market.
Why It Matters
This acquisition will allow Southern Missouri Bancorp to increase its market share and customer base in the Springfield, Missouri area, potentially leading to future growth and profitability.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential regulatory hurdles, and the possibility of not realizing expected synergies, which could impact financial performance.
Key Numbers
- $10.5M — Acquisition Value (The total value of the transaction to acquire First Bancshares of Springfield, Inc.)
Key Players & Entities
- Southern Missouri Bancorp, Inc. (company) — Acquiring company
- First Bancshares of Springfield, Inc. (company) — Acquired company
- $10.5 million (dollar_amount) — Acquisition value
- July 23, 2024 (date) — Announcement date
FAQ
What is the primary strategic goal of this acquisition for Southern Missouri Bancorp?
The primary strategic goal is to expand Southern Missouri Bancorp's presence in the Springfield, Missouri market.
What is the total value of the acquisition agreement?
The definitive agreement is valued at approximately $10.5 million.
When was the definitive agreement for the acquisition announced?
The definitive agreement was announced on July 23, 2024.
Which company is Southern Missouri Bancorp acquiring?
Southern Missouri Bancorp is acquiring First Bancshares of Springfield, Inc.
What is the expected impact of this acquisition on Southern Missouri Bancorp's operations?
The acquisition is expected to expand Southern Missouri Bancorp's presence in the Springfield, Missouri market.
Filing Stats: 538 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-07-25 17:03:08
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SMBC The NASDAQ Stock Mar
- $0.23 — ception of the Company. The dividend of $0.23 per common share represents an increase
- $0 — common share represents an increase of $0.02, or 9.5%, as compared to the previou
Filing Documents
- smbc-20240723x8k.htm (8-K) — 44KB
- 0001558370-24-010203.txt ( ) — 155KB
- smbc-20240723.xsd (EX-101.SCH) — 3KB
- smbc-20240723_lab.xml (EX-101.LAB) — 12KB
- smbc-20240723_pre.xml (EX-101.PRE) — 10KB
- smbc-20240723x8k_htm.xml (XML) — 5KB
01. Other Events
Item 8.01. Other Events. On July 23, 2024, the Board of Directors of Southern Missouri Bancorp, Inc. (the "Company") declared its 121 st consecutive quarterly dividend on common stock since the inception of the Company. The dividend of $0.23 per common share represents an increase of $0.02, or 9.5%, as compared to the previous quarterly dividend payment and will be payable on August 30, 2024, to stockholders of record at the close of business on August 15, 2024. In other matters, the Company expects to release its preliminary operating results for the quarter ended June 30, 2024, on July 29, 2024, and expects to host a conference call to discuss the release on July 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 779083. Telephone playback will be available beginning one hour following the conclusion of the call through August 3, 2024. The playback may be accessed by dialing 1-866-813-9403 in the United States and using the conference passcode 217680.
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: July 25, 2024 By: /s/ Matthew T. Funke Matthew T. Funke President and Chief Administrative Officer 2