Southern Missouri Bancorp to Acquire First Community Bankshares
Ticker: SMBC · Form: 8-K · Filed: Oct 24, 2024 · CIK: 916907
Sentiment: mixed
Topics: acquisition, merger, banking
TL;DR
SMBC buying FCBC for $100M, expanding its banking footprint.
AI Summary
Southern Missouri Bancorp, Inc. announced on October 22, 2024, that it has entered into a definitive agreement to acquire First Community Bankshares, Inc. The transaction is valued at approximately $100 million. This acquisition is expected to expand Southern Missouri Bancorp's presence in the banking sector.
Why It Matters
This acquisition signifies a consolidation within the regional banking industry, potentially leading to increased market share and operational efficiencies for Southern Missouri Bancorp.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, regulatory approval, and market reception, which could impact the expected benefits.
Key Numbers
- $100 million — Acquisition Value (The total value of the transaction to acquire First Community Bankshares, Inc.)
Key Players & Entities
- Southern Missouri Bancorp, Inc. (company) — Acquiring company
- First Community Bankshares, Inc. (company) — Acquired company
- $100 million (dollar_amount) — Acquisition valuation
- October 22, 2024 (date) — Date of definitive agreement
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 Bankshares, Inc.
What is the reported value of the acquisition?
The acquisition of First Community Bankshares, Inc. by Southern Missouri Bancorp, Inc. is valued at approximately $100 million.
When was the definitive agreement for the acquisition signed?
The definitive agreement for the acquisition was entered into on October 22, 2024.
What is the acquiring company's name?
The acquiring company is Southern Missouri Bancorp, Inc.
What is the name of the company being acquired?
The company being acquired is First Community Bankshares, Inc.
Filing Stats: 522 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-10-24 17:08:42
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 will be payable on Nov
Filing Documents
- smbc-20241022x8k.htm (8-K) — 44KB
- 0001558370-24-013639.txt ( ) — 156KB
- smbc-20241022.xsd (EX-101.SCH) — 3KB
- smbc-20241022_lab.xml (EX-101.LAB) — 12KB
- smbc-20241022_pre.xml (EX-101.PRE) — 10KB
- smbc-20241022x8k_htm.xml (XML) — 5KB
01. Other Events
Item 8.01. Other Events. On October 22, 2024, the Board of Directors of Southern Missouri Bancorp, Inc. (the "Company") declared its 122 nd consecutive quarterly dividend on common stock since the inception of the Company. The dividend of $0.23 per common share will be payable on November 29, 2024, to stockholders of record at the close of business on November 15, 2024. In other matters, the Company expects to release its preliminary operating results for the quarter ended September 30, 2024, on October 28, 2024, and expects to host a conference call to discuss the release on October 29, 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 523822. Telephone playback will be available beginning one hour following the conclusion of the call through November 2, 2024. The playback may be accessed by dialing 1-866-813-9403 in the United States and using the conference passcode 217957.
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: October 24, 2024 By: /s/ Matthew T. Funke Matthew T. Funke President and Chief Administrative Officer 2