Highlights:
· Preliminary
fiscal year 2015 third quarter earnings per common share (diluted)
were reported at $.44, up from $.32 (split-adjusted) in the year
ago period, as net income available to common shareholders
increased to $3.3 million, compared to $2.2 million in the year ago
period. Earnings per common share (diluted) were down $.01 on a
split-adjusted basis from the second quarter of fiscal 2015, the
linked quarter.
· For the third
quarter of fiscal 2015, return on average assets was 1.04%, while
return on average common equity was 11.9%, as compared to a 0.93%
return on average assets and 10.2% return on average common equity
in the year ago period. In the second quarter of fiscal 2015, the
linked quarter, return on average assets was 1.06%, and return on
average common equity was 12.5%.
· Net loan
growth for the first nine months of fiscal 2015 was $248.5 million,
or 31.0%. Of that amount, $190.4 million was attributable to the
August 2014 acquisition of Peoples Service Company and its
subsidiary, Peoples Bank of the Ozarks (collectively, "Peoples").
Deposits were up $271.2 million, or 34.5%, with the Peoples
acquisition accounting for $222.2 million.
· Net interest
margin for the third quarter of fiscal 2015 was 3.89%, up from the
3.72% reported for the year ago period, and down from the net
interest margin of 4.03% for the second quarter of fiscal 2015, the
linked quarter.
· Excluding
securities gains, noninterest income was up 42.8% for the third
quarter of fiscal 2015, compared to the year ago period, and down
4.3% from the second quarter of fiscal 2015, the linked
quarter.
· Noninterest
expense was up 22.2% for the third quarter of fiscal 2015, compared
to the year ago period, and down 5.8% from the second quarter of
fiscal 2015, the linked quarter. While recent periods have included
significant noninterest expense related to merger and acquisition
activity, the current quarter included just $21,000 in these
charges.
· Non-performing
assets were $8.7 million, or 0.66% of total assets, at March 31,
2015, as compared to $4.4 million, or 0.43% of total assets, at
June 30, 2014, increasing primarily due to the Peoples acquisition
and the second quarter migration to nonaccrual status of a
previously classified credit that was identified as a purchased
credit impaired loan in a previous acquisition.
Southern Missouri Bancorp, Inc. ("Company") (NASDAQ: SMBC), the
parent corporation of Southern Bank ("Bank"), today announced
preliminary net income available to common shareholders for the
third quarter of fiscal 2015 of $3.3 million, an increase of $1.1
million, or 50.1%, as compared to $2.2 million in the same period
of the prior fiscal year. The increase was attributable to growth
in net interest income and noninterest income, partially offset by
increased noninterest expense, provision for income taxes, and
provision for loan losses. Preliminary net income available to
common shareholders was $.44 per fully diluted common share for the
third quarter of fiscal 2015, an increase of 37.5% as compared to
the $.32 (split-adjusted) per fully diluted common share earned
during the same period of the prior fiscal year.
Preliminary net income available to common shareholders for the
first nine months of fiscal 2015 was announced at $10.0 million, an
increase of $2.8 million, or 38.7%, as compared to $7.2 million in
the same period of the prior fiscal year. This increase was also
attributable to growth in net interest income and noninterest
income, partially offset by increased noninterest expense,
provision for income taxes, and provision for loan losses.
Preliminary net income available to common shareholders was $1.33
per fully diluted common share for the first nine months of fiscal
2015, an increase of 25.5% as compared to the $1.06
(split-adjusted) per fully diluted common share earned during the
same period of the prior fiscal year.
Dividend Declared:
The Company is pleased to announce that the Board of Directors,
on April 21, 2015, declared its 84th consecutive quarterly dividend
on common stock since the inception of the Company. The cash
dividend of $0.085 per share will be paid May 29, 2015, to common
shareholders of record at the close of business on May 15, 2015.
The Board of Directors and management believe the payment of a
quarterly cash dividend enhances shareholder value and demonstrates
our commitment to and confidence in our future prospects.
Conference Call:
The Company will host a conference call to review the
information provided in this press release on Tuesday, April 28,
2015, at 3:30 p.m., central time (4:30 p.m., eastern). The call
will be available live to interested parties by calling
1-888-339-0709 in the United States (Canada: 1-855-669-9657,
international: 1-412-902-4189). Telephone playback will be
available one hour following the conclusion of the call, through
May 12, 2015. The playback may be accessed by dialing
1-877-344-7529 (Canada: 1-855-669-9658, international:
1-412-317-0088), and using the conference passcode 10065091.
Participants should ask to be joined into the Southern Missouri
Bancorp (SMBC) call.
Balance Sheet Summary:
The Company experienced balance sheet growth in the first nine
months of fiscal 2015, primarily due to the Peoples acquisition,
but also due to continued organic loan growth. Total assets
increased $281.4 million, or 27.6%, to $1.3 billion at March 31,
2015, as compared to $1.0 billion at June 30, 2014. Balance sheet
growth was funded primarily with acquired deposit balances and
organic deposit growth.
Available-for-sale (AFS) securities increased $3.4 million, or
2.6%, to $133.6 million at March 31, 2015, as compared to $130.2
million at June 30, 2014. The increase is the result of AFS
securities obtained in the Peoples acquisition, consisting
primarily of mortgage-backed securities, mostly offset by
securities sold, repaid, and matured. Cash equivalents and time
deposits increased $6.9 million, or 41.6%, as compared to June 30,
2014, primarily as a result of the Peoples acquisition.
Loans, net of the allowance for loan losses, increased $248.5
million, or 31.0%, to $1.0 billion at March 31, 2015, as compared
to $801.1 million at June 30, 2014. The increase was primarily
attributable to the Peoples acquisition, which included $190.4
million in loans, at fair value. Including acquired loans, the
increase in balances resulted mainly from growth in commercial real
estate loans, residential real estate loans, and commercial
loans.
Non-performing loans were $4.3 million, or 0.41% of gross loans,
at March 31, 2015, as compared to $1.4 million, or 0.17% of gross
loans, at June 30, 2014. Non-performing assets were $8.7 million,
or 0.66% of total assets, at March 31, 2015, as compared to $4.4
million, or 0.43% of total assets, at June 30, 2014. Our allowance
for loan losses at March 31, 2015, totaled $11.7 million,
representing 1.11% of gross loans and 271% of non-performing loans,
as compared to $9.3 million, or 1.14% of gross loans, and 663% of
non-performing loans, at June 30, 2014. Non-performing loan and
asset balances increased as a result of the Peoples acquisition,
which included $1.7 million in nonperforming loans (at fair value)
and $1.0 million in foreclosed real estate. The migration to
nonaccrual status of a previously-classified purchased credit
impaired relationship with a carrying value at March 31, 2015, of
$1.5 million accounted for the remainder of the increase. For all
impaired loans, the Company has measured impairment under ASC
310-10-35, and management believes the allowance for loan losses at
March 31, 2015, is adequate, based on that measurement.
Total liabilities increased $259.6 million, or 28.5%, to $1.2
billion at March 31, 2015, as compared to $910.3 million at June
30, 2014. This growth was primarily attributable to the Peoples
acquisition and organic deposit growth, partially offset by
repayment of overnight Federal Home Loan Bank (FHLB) advances.
Deposits increased $271.2 million, or 34.5%, to $1.1 billion at
March 31, 2015, as compared to $785.8 million at June 30, 2014. The
increase was primarily attributable to the Peoples acquisition,
which included $222.2 million in deposits, at fair value. Including
assumed deposits, the increase in balances resulted mainly from
growth in certificates of deposit, interest-bearing transaction
accounts, noninterest-bearing transaction accounts, and money
market deposit accounts. The average loan-to-deposit ratio for the
third quarter of fiscal 2015 was 97.6% as compared to 100.0% for
the same period of the prior fiscal year.
FHLB advances were $65.1 million at March 31, 2015, a decrease
of $20.4 million, or 23.9%, as compared to $85.5 million at June
30, 2014. The decrease was attributable to the repayment of
overnight borrowings with the utilization of cash equivalents
obtained in the Peoples acquisition, the sale of AFS securities,
and deposit growth, and was partially offset by the assumption of
longer-term advances totaling $16.0 million, at fair value, as a
result of the Peoples acquisition. Securities sold under agreements
to repurchase totaled $28.0 million at March 31, 2015, as compared
to $25.6 million at June 30, 2014, an increase of 9.4%. At both
dates, the full balance of repurchase agreements was due to local
small business and government counterparties.
The Company's stockholders' equity increased $21.8 million, or
19.7%, to $133.0 million at March 31, 2015, from $111.1 million at
June 30, 2014. The increase was due primarily to the issuance of
shares of Company common stock in the Peoples acquisition, as well
as retention of net income, and an increase in accumulated other
comprehensive income, partially offset by cash dividends paid on
common and preferred stock.
Income Statement Summary:
During fiscal 2014, the Company closed on the acquisition of the
Bank of Thayer in October 2013, and the acquisition of Citizens
State Bank in February 2014 (collectively, the "Fiscal 2014
Acquisitions"). Along with the Peoples acquisition, which closed on
August 5, 2014, the Fiscal 2014 Acquisitions impacted our reported
results through a larger average balance sheet, and increased
noninterest income and noninterest expense.
The Company's net interest income for the three-month and
nine-month periods ended March 31, 2015, was $11.7 million and
$35.0 million, increases of $3.3 million and $10.9 million,
respectively, or 38.7% and 45.0%, respectively, as compared to the
same periods of the prior fiscal year. The increases were
attributable to 32.7% and 40.3% increases, respectively, in the
average balance of interest-earning assets, combined with increases
in net interest margin, to 3.89% and 3.95%, respectively, in the
three- and nine-month periods ended March 31, 2015, from 3.72% and
3.82%, respectively, in same periods of the prior fiscal year.
In December 2010, the Company acquired from the FDIC, as
receiver, most of the assets and assumed substantially all of the
liabilities of the former First Southern Bank, Batesville, Arkansas
(the Fiscal 2011 Acquisition). Additionally, as discussed above,
the Company closed on the Peoples acquisition in August 2014.
Accretion of fair value discount on loans and amortization of fair
value premiums on time deposits related to the Fiscal 2011
Acquisition declined to $69,000 and $244,000, respectively, for the
three- and nine-month periods ended March 31, 2015, as compared to
$109,000 and $481,000, respectively, in the same periods of the
prior fiscal year. This component of net interest income
contributed two and four basis points, respectively, to net
interest margin in the three- and nine-month periods ended March
31, 2015, as compared to five and eight basis points, respectively,
in the same periods of the prior fiscal year. Accretion of fair
value discount on loans and amortization of fair value premiums on
time deposits related to the Peoples acquisition was $558,000 and
$1.7 million for the three- and nine-month periods ended March 31,
2015, with no comparable impact in the same periods of the prior
fiscal year. This component of net interest income contributed an
additional 19 basis points to net interest margin in both the
three- and nine-month periods ended March 31, 2015. The Company
expects the impact of the fair value discount accretion from the
Fiscal 2011 Acquisition and Peoples acquisition to continue to
decline, over time, as the assets acquired at a discount continue
to mature or prepay. Purchase accounting adjustments related to
other acquisitions closed by the Company in recent periods have had
a less significant impact on net interest income.
The provision for loan losses for the three- and nine-month
periods ended March 31, 2015, was $837,000 and $2.5 million,
respectively, as compared to $253,000 and $1.0 million in the same
periods of the prior fiscal year. As a percentage of average loans,
provision for loan losses represented an annualized charge of 0.32%
and 0.33%, respectively, in the current three- and nine-month
periods, as compared to 0.13% and 0.19%, respectively, in the same
periods of the prior fiscal year. Annualized net charge offs as a
percentage of average loans were 0.02% and 0.01%, respectively, in
the current three- and nine-month periods, as compared to 0.35% and
0.14%, respectively, in the same periods of the prior fiscal
year.
The Company's noninterest income for the three- and nine-month
periods ended March 31, 2015, was $2.1 million and $6.3 million,
increases of $632,000, or 43.2%, and $1.9 million, or 42.0%,
respectively, as compared to the same periods of the prior fiscal
year. The increase in the three-month period was attributed
primarily to increases in bank card interchange income, deposit
account service charges, loan late charges, and other loan fees,
partially offset by a decline in gains realized on secondary market
loan originations. The increase in the nine-month period was
attributed primarily to increases in deposit account service
charges, bank card interchange income, loan late charges, gains
realized on secondary market loan originations, and other loan
fees, partially offset by a decrease in gains on the sale of
available-for-sale securities. Generally, higher noninterest income
levels are the result of additional deposit and loan relationships
served by the Company as a result of the Fiscal 2014 Acquisitions
and the Peoples acquisition. Additionally, the Company is realizing
benefits from a December increase in the Bank's NSF fee and the
Bank's new debit card processing contract, which was entered into
at the beginning of the current fiscal year.
Noninterest expense for the three- and nine-month periods ended
March 31, 2015, was $8.1 million and $24.3 million, respectively,
increases of $1.5 million, or 22.2%, and $6.9 million, or 39.5%,
respectively, as compared to the same periods of the prior fiscal
year. The increases were attributed to compensation and benefits,
occupancy expenses, amortization of core deposit intangibles,
advertising, and other expenses, which resulted primarily from the
Fiscal 2014 Acquisitions and the Peoples acquisition, partially
offset by declines in legal and professional fees, and bankcard
network expense. Included in noninterest expense was $21,000 and
$508,000, respectively, in merger-related charges recognized in the
three- and nine-month periods ended March 31, 2015, with $356,000
and $1.1 million in comparable expenses in the same periods of the
prior fiscal year. Additionally, in the same periods of the prior
fiscal year, the Company incurred a $376,000 charge for liquidated
damages for the early termination of its debit card processing
contract. The efficiency ratio for the three- and nine-month
periods ended March 31, 2015, was 58.7% and 58.9%, respectively, as
compared to 66.9% and 61.2%, respectively, for the same periods of
the prior fiscal year, and has varied of late due to recent
acquisition activity, the non-recurring expenses associated with
each, and the termination of the debit card processing contract in
the prior fiscal year's periods.
The income tax provision for the three- and nine-month periods
ended March 31, 2015, was $1.5 million and $4.3 million,
respectively, increases of $716,000, or 91.6%, and $1.6 million, or
57.1%, as compared to the same periods of the prior fiscal year,
attributable to higher pre-tax income, as well as an increase in
the effective tax rate, to 30.8% and 30.0%, respectively, in the
current three- and nine-month periods, from 25.8% and 27.4%,
respectively, in the same periods of the prior fiscal year. The
effective rate has trended higher over the previous four quarters,
attributable primarily to an increase in pre-tax income and average
assets, without corresponding increases in tax-advantaged income
and investments, as well as an increase in non-deductible
expenses.
Forward-Looking Information:
Except for the historical information contained herein, the
matters discussed in this press release may be deemed to be
forward-looking statements that are subject to known and unknown
risks, uncertainties, and other factors that could cause the actual
results to differ materially from the forward-looking statements,
including: the strength of the United States economy in general and
the strength of the local economies in which we conduct operations;
fluctuations in interest rates and in real estate values; monetary
and fiscal policies of the Board of Governors of the Federal
Reserve System and the U.S. Government and other governmental
initiatives affecting the financial services industry; the risks of
lending and investing activities, including changes in the level
and direction of loan delinquencies and write-offs and changes in
estimates of the adequacy of the allowance for loan losses; our
ability to access cost-effective funding; the timely development of
and acceptance of our new products and services and the perceived
overall value of these products and services by users, including
the features, pricing and quality compared to competitors' products
and services; expected cost savings, synergies and other benefits
from the Company's merger and acquisition activities might not be
realized to the extent anticipated or within the anticipated time
frames, if at all, and costs or difficulties relating to
integration matters, including but not limited to customer and
employee retention, might be greater than expected; fluctuations in
real estate values and both residential and commercial real estate
market conditions; demand for loans and deposits in our market
area; legislative or regulatory changes that adversely affect our
business; results of examinations of us by our regulators,
including the possibility that our regulators may, among other
things, require us to increase our reserve for loan losses or to
write-down assets; the impact of technological changes; and our
success at managing the risks involved in the foregoing. Any
forward-looking statements are based upon management's beliefs and
assumptions at the time they are made. We undertake no obligation
to publicly update or revise any forward-looking statements or to
update the reasons why actual results could differ from those
contained in such statements, whether as a result of new
information, future events or otherwise. In light of these risks,
uncertainties and assumptions, the forward-looking statements
discussed might not occur, and you should not put undue reliance on
any forward-looking statements.
Southern Missouri
Bancorp, Inc. |
UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL INFORMATION |
|
|
|
|
|
|
|
|
|
|
|
dollars in thousands,
except per share data |
Summary Balance Sheet Data as
of: |
|
|
|
|
March 31, 2015 |
June 30, 2014 |
|
|
|
|
|
|
|
Cash equivalents and time deposits |
|
|
|
|
$
23,496 |
$
16,587 |
Available for sale securities |
|
|
|
|
133,637 |
130,222 |
FHLB/FRB Membership stock |
|
|
|
|
6,475 |
5,993 |
Loans receivable, gross |
|
|
|
|
1,061,267 |
810,315 |
Allowance for loan losses |
|
|
|
|
11,743 |
9,259 |
Loans receivable, net |
|
|
|
|
1,049,524 |
801,056 |
Bank-owned life insurance |
|
|
|
|
19,549 |
19,123 |
Intangible assets |
|
|
|
|
9,007 |
3,936 |
Premises and equipment |
|
|
|
|
37,490 |
22,466 |
Other assets |
|
|
|
|
23,680 |
22,039 |
Total assets |
|
|
|
|
$
1,302,858 |
$
1,021,422 |
|
|
|
|
|
|
|
Interest-bearing deposits |
|
|
|
|
$
935,347 |
$
717,688 |
Noninterest-bearing deposits |
|
|
|
|
121,647 |
68,113 |
Securities sold under agreements to
repurchase |
|
|
|
|
27,960 |
25,561 |
FHLB advances |
|
|
|
|
65,080 |
85,472 |
Other liabilities |
|
|
|
|
5,232 |
3,750 |
Subordinated debt |
|
|
|
|
14,635 |
9,727 |
Total liabilities |
|
|
|
|
1,169,901 |
910,311 |
|
|
|
|
|
|
|
Preferred stock |
|
|
|
|
20,000 |
20,000 |
Common stockholders' equity |
|
|
|
|
112,957 |
91,111 |
Total stockholders' equity |
|
|
|
|
132,957 |
111,111 |
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
|
|
|
$
1,302,858 |
$
1,021,422 |
|
|
|
|
|
|
|
Equity to assets ratio |
|
|
|
|
10.21% |
10.88% |
Common shares outstanding |
|
|
|
|
7,413,666 |
6,680,880 |
Less: Restricted common shares
not vested |
|
|
|
|
73,200 |
72,000 |
Common shares for book value
determination |
|
|
|
|
7,340,466 |
6,608,880 |
Book value per common share |
|
|
|
|
$
15.39 |
$
13.79 |
Closing market price |
|
|
|
|
18.87 |
17.85 |
|
|
|
|
|
|
|
|
|
|
|
|
dollars in thousands,
except per share data |
Nonperforming asset data as
of: |
|
|
|
|
March 31, 2015 |
June 30, 2014 |
|
|
|
|
|
|
|
Nonaccrual loans |
|
|
|
|
$
4,200 |
$
1,266 |
Accruing loans 90 days or more past due |
|
|
|
|
137 |
130 |
Nonperforming troubled debt restructurings
(1) |
|
|
|
|
- |
- |
Total nonperforming loans |
|
|
|
|
4,337 |
1,396 |
Other real estate owned (OREO) |
|
|
|
|
4,291 |
2,912 |
Personal property repossessed |
|
|
|
|
36 |
65 |
Nonperforming investment securities |
|
|
|
|
- |
- |
Total nonperforming assets |
|
|
|
|
$
8,664 |
$
4,373 |
|
|
|
|
|
|
|
Total nonperforming assets to total
assets |
|
|
|
|
0.66% |
0.43% |
Total nonperforming loans to gross loans |
|
|
|
|
0.41% |
0.17% |
Allowance for loan losses to nonperforming
loans |
|
|
|
|
270.76% |
663.25% |
Allowance for loan losses to gross loans |
|
|
|
|
1.11% |
1.14% |
|
|
|
|
|
|
|
Performing troubled debt restructurings |
|
|
|
|
$
3,620 |
$
4,778 |
|
|
|
|
|
|
|
(1) reported here only if not otherwise listed as nonperforming
(i.e., nonaccrual or 90+ days past due) |
|
|
dollars in thousands,
except per share data |
|
|
For the
three-month period ended |
|
For the
nine-month period ended |
Average Balance Sheet
Data: |
|
March 31, 2015 |
March 31, 2014 |
|
March 31, 2015 |
March 31, 2014 |
|
|
|
|
|
|
|
Interest-bearing cash equivalents |
|
$
16,148 |
$
10,803 |
|
$
21,339 |
$
5,996 |
Available for sale securities and membership
stock |
|
147,433 |
135,282 |
|
153,037 |
115,540 |
Loans receivable, gross |
|
1,040,371 |
761,120 |
|
1,007,084 |
720,706 |
Total interest-earning
assets |
|
1,203,952 |
907,205 |
|
1,181,460 |
842,242 |
Other assets |
|
92,966 |
60,801 |
|
86,836 |
56,881 |
Total assets |
|
$
1,296,918 |
$
968,006 |
|
$
1,268,296 |
$
899,123 |
|
|
|
|
|
|
|
Interest-bearing deposits |
|
$
943,035 |
$
697,052 |
|
$
899,026 |
$
647,082 |
Securities sold under agreements to
repurchase |
|
26,256 |
25,470 |
|
24,776 |
23,939 |
FHLB advances |
|
57,596 |
64,557 |
|
88,427 |
58,417 |
Subordinated debt |
|
14,626 |
9,717 |
|
13,933 |
8,774 |
Total interest-bearing
liabilities |
|
1,041,513 |
796,796 |
|
1,026,162 |
738,212 |
Noninterest-bearing deposits |
|
123,033 |
64,053 |
|
114,731 |
55,343 |
Other noninterest-bearing liabilities |
|
754 |
763 |
|
1,168 |
1,239 |
Total liabilities |
|
1,165,300 |
861,612 |
|
1,142,061 |
794,794 |
|
|
|
|
|
|
|
Preferred stock |
|
20,000 |
20,000 |
|
20,000 |
20,000 |
Common stockholders' equity |
|
111,618 |
86,394 |
|
106,235 |
84,329 |
Total stockholders' equity |
|
131,618 |
106,394 |
|
126,235 |
104,329 |
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
$
1,296,918 |
$
968,006 |
|
$
1,268,296 |
$
899,123 |
|
|
|
|
|
|
|
|
|
dollars in thousands,
except per share data |
|
|
For the
three-month period ended |
|
For the
nine-month period ended |
Summary Income Statement
Data: |
|
March 31, 2015 |
March 31, 2014 |
|
March 31, 2015 |
March 31, 2014 |
|
|
|
|
|
|
|
Interest income: |
|
|
|
|
|
|
Cash equivalents |
|
$
16 |
$
14 |
|
$
98 |
$
20 |
Available for sale securities
and membership stock |
|
918 |
805 |
|
2,826 |
2,025 |
Loans receivable |
|
12,975 |
9,497 |
|
38,560 |
27,674 |
Total interest
income |
|
13,909 |
10,316 |
|
41,484 |
29,719 |
Interest expense: |
|
|
|
|
|
|
Deposits |
|
1,756 |
1,493 |
|
5,060 |
4,447 |
Securities sold under agreements
to repurchase |
|
30 |
34 |
|
84 |
97 |
FHLB advances |
|
301 |
272 |
|
973 |
814 |
Subordinated debt |
|
125 |
83 |
|
379 |
223 |
Total interest
expense |
|
2,212 |
1,882 |
|
6,496 |
5,581 |
Net interest income |
|
11,697 |
8,434 |
|
34,988 |
24,138 |
Provision for loan losses |
|
837 |
253 |
|
2,526 |
1,048 |
Securities gains |
|
3 |
(2) |
|
6 |
108 |
Other noninterest income |
|
2,091 |
1,464 |
|
6,255 |
4,301 |
Noninterest expense |
|
8,091 |
6,619 |
|
24,282 |
17,412 |
Income taxes |
|
1,497 |
781 |
|
4,338 |
2,762 |
Net income |
|
3,366 |
2,243 |
|
10,103 |
7,325 |
Less: effective dividend on
preferred shares |
|
50 |
50 |
|
150 |
150 |
Net income
available to common shareholders |
|
$
3,316 |
$
2,193 |
|
$
9,953 |
$
7,175 |
|
|
|
|
|
|
|
Basic earnings per common share |
|
$
0.45 |
$
0.33 |
|
$
1.36 |
$
1.09 |
Diluted earnings per common share |
|
0.44 |
0.32 |
|
1.33 |
1.06 |
Dividends per common share |
|
0.085 |
0.080 |
|
0.255 |
0.240 |
Average common shares outstanding: |
|
|
|
|
|
|
Basic |
|
7,413,000 |
6,623,000 |
|
7,310,000 |
6,592,000 |
Diluted |
|
7,604,000 |
6,847,000 |
|
7,499,000 |
6,798,000 |
|
|
|
|
|
|
|
Return on average assets |
|
1.04% |
0.93% |
|
1.06% |
1.09% |
Return on average common shareholders'
equity |
|
11.9% |
10.2% |
|
12.5% |
11.3% |
|
|
|
|
|
|
|
Net interest margin |
|
3.89% |
3.72% |
|
3.95% |
3.82% |
Net interest spread |
|
3.77% |
3.61% |
|
3.84% |
3.69% |
|
|
|
|
|
|
|
Efficiency ratio |
|
58.7% |
66.9% |
|
58.9% |
61.2% |
Southern Missouri Bancorp (NASDAQ:SMBC)
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From Sep 2024 to Oct 2024
Southern Missouri Bancorp (NASDAQ:SMBC)
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From Oct 2023 to Oct 2024