Southern Missouri Bancorp Q1 2025 Update
Ticker: SMBC · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 916907
Sentiment: neutral
Topics: financials, quarterly-report, assets, liabilities
Related Tickers: SMBK
TL;DR
SMBK: Q1 assets $7.5B, liabilities $637M. Steady as she goes.
AI Summary
Southern Missouri Bancorp, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $7.500 billion and total liabilities of $637.06 million. Key financial metrics and disclosures related to property, plant, and equipment, as well as accounts payable and accrued liabilities, were included in the filing.
Why It Matters
This filing provides a snapshot of Southern Missouri Bancorp's financial health and operational status for the first quarter of its fiscal year 2025, impacting investor confidence and strategic decisions.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.
Key Numbers
- $7.500B — Total Assets (As of September 30, 2024)
- $637.06M — Total Liabilities (As of September 30, 2024)
Key Players & Entities
- SOUTHERN MISSOURI BANCORP, INC. (company) — Filer
- 20240930 (date) — Reporting Period End Date
- 20241112 (date) — Filing Date
- Fortune Financial Corporation (company) — Subsidiary/Affiliate
FAQ
What was Southern Missouri Bancorp's net income for the quarter ending September 30, 2024?
The provided excerpt does not contain specific net income figures for the quarter ending September 30, 2024.
How has the company's total equity changed compared to the previous fiscal year?
The filing excerpt does not provide comparative total equity figures from the previous fiscal year.
Are there any significant changes in the company's loan portfolio during this quarter?
The provided excerpt does not detail changes in the company's loan portfolio.
What is the company's exposure to interest rate risk, particularly concerning the Secured Overnight Financing Rate (SOFR)?
The filing mentions 'SecuredOvernightFinancingRateSofrMember', indicating awareness and potential reporting related to SOFR, but specific exposure details are not in this excerpt.
Does the company have any significant upcoming debt maturities or issuances?
The filing mentions 'SubordinatedNotesIssuedInMay2021Member', suggesting past debt activity, but does not detail upcoming maturities or issuances in this excerpt.
Filing Stats: 4,464 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-11-12 17:03:13
Filing Documents
- smbc-20240930x10q.htm (10-Q) — 5366KB
- smbc-20240930xex31d1.htm (EX-31.1) — 14KB
- smbc-20240930xex31d2.htm (EX-31.2) — 14KB
- smbc-20240930xex31d3.htm (EX-31.3) — 14KB
- smbc-20240930xex32.htm (EX-32) — 12KB
- 0001558370-24-015347.txt ( ) — 24282KB
- smbc-20240930.xsd (EX-101.SCH) — 83KB
- smbc-20240930_cal.xml (EX-101.CAL) — 120KB
- smbc-20240930_def.xml (EX-101.DEF) — 380KB
- smbc-20240930_lab.xml (EX-101.LAB) — 711KB
- smbc-20240930_pre.xml (EX-101.PRE) — 614KB
- smbc-20240930x10q_htm.xml (XML) — 7259KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 56 Item 4.
Controls and Procedures
Controls and Procedures 59 PART II. OTHER INFORMATION 60 Item 1.
Legal Proceedings
Legal Proceedings 60 Item 1a.
Risk Factors
Risk Factors 60 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults upon Senior Securities 60 Item 4. Mine Safety Disclosures 60 Item 5. Other Information 60 Item 6. Exhibits 61 - Signature Page 63 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 SEPTEMBER 30, 2024 AND JUNE 30, 2024 September 30, 2024 June 30, 2024 (dollars in thousands) (unaudited) Assets Cash and cash equivalents $ 75,347 $ 60,904 Interest-bearing time deposits 244 491 Available for sale securities 420,209 427,903 Stock in FHLB of Des Moines 8,972 8,713 Stock in Federal Reserve Bank of St. Louis 9,092 9,089 Loans receivable, net of ACL of $ 54,437 and $ 52,516 at September 30, 2024 and June 30, 2024, respectively 3,912,081 3,797,287 Accrued interest receivable 28,949 23,826 Premises and equipment, net 96,087 95,952 Bank owned life insurance – cash surrender value 74,119 73,601 Goodwill 50,727 50,727 Other intangible assets, net 25,613 26,505 Prepaid expenses and other assets 27,760 29,318 Total assets $ 4,729,200 $ 4,604,316 Liabilities and Stockholders' Equity Deposits $ 4,040,142 $ 3,943,059 Securities sold under agreements to repurchase 15,000 9,398 Advances from FHLB 107,069 102,050 Accounts payable and other liabilities 26,523 25,037 Accrued interest payable 11,668 12,868 Subordinated debt 23,169 23,156 Total liabilities 4,223,571 4,115,568 Commitments and contingencies Common stock, $ .01 par value; 25,000,000 shares authorized; 11,958,587 and 11,959,157 shares issued at September 30, 2024 and June 30, 2024, respectively 120 120 Additional paid-in capital 219,808 219,680 Retained earnings 321,240 311,376 Treasury stock of 681,420 and 681,420 shares at September 30, 2024 and June 30, 2024, respectively, at cost ( 24,973 ) ( 24,973 ) Accumulated other comprehensive loss ( 10,566 ) ( 17,455 ) Total stockholders' equity 505,629 488,748 Total liabilities and stockholders' equity $ 4,729,200 $ 4,604,316 See Notes to Condensed Consolidated Financial Statements