Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc.
(“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank
(“Bank”), today announced preliminary net income available to
common stockholders for the third quarter of fiscal 2020 of $5.1
million, a decrease of $2.0 million, or 28.1%, as compared to the
same period of the prior fiscal year. The decrease was attributable
to increases in the provision for loan losses and noninterest
expense, and decreased noninterest income, partially offset by an
increase in net interest income and a decrease in the provision for
income taxes. Preliminary net income was $.55 per fully diluted
common share for the third quarter of fiscal 2020, a decrease of
$.21 as compared to the $.76 per fully diluted common share
reported for the same period of the prior fiscal year.
Highlights for the third quarter of fiscal
2020:
- Annualized return on average assets was 0.88%, while annualized
return on average common equity was 8.1%, as compared to 1.30% and
12.5%, respectively, in the same quarter a year ago, and 1.36% and
12.6%, respectively, in the second quarter of fiscal 2020, the
linked quarter.
- Earnings per common share (diluted) were $.55, down $.21, or
27.6%, as compared to the same quarter a year ago, and down $.29,
or 34.5%, from the second quarter of fiscal 2020, the linked
quarter.
- Provision for loan losses was $2.9 million, an increase of $2.4
million, or 480.4%, as compared to the same period of the prior
year, and up $2.5 million, or 634.5%, as compared to the second
quarter of fiscal 2020, the linked quarter. The increase was
attributable primarily to increased uncertainty regarding the
economic environment resulting from the COVID-19 pandemic and the
potential impact on the Company’s borrowers. Nonperforming assets
were $14.9 million, or 0.63% of total assets, at March 31, 2020, as
compared to $24.8 million, or 1.12% of total assets, at June 30,
2019, and $26.3 million, or 1.21% of total assets, at March 31,
2019. The decrease primarily reflected progress by the Company in
resolving acquired nonperforming assets resulting from the November
2018 acquisition of Gideon Bancshares Company and its subsidiary,
First Commercial Bank (“the Gideon Acquisition”).
- Net loan growth for the third quarter of fiscal 2020 was $45.0
million, a continued strong annualized pace of growth, and better
than recent March quarters for the Company. In general, seasonal
impacts have been less pronounced of late. Net loans are up $121.4
million, or 6.6% in the first nine months of fiscal
2020.
- Deposit balances increased $57.0 million in the third quarter,
in what is typically a strong quarter for the Company’s deposit
growth, and this growth came despite a decrease of $5.9 million in
brokered deposits. Deposits are up $78.0 million, or 4.1%, in the
first nine months of fiscal 2020, with growth negatively impacted
by a reduction of $15.5 million in brokered deposits in the fiscal
year to date.
- Net interest margin for the third quarter of fiscal 2020 was
3.63%, down from the 3.73% reported for the year ago period, and
down from the 3.70% figure reported for the second quarter of
fiscal 2020, the linked quarter. Discount accretion on acquired
loan portfolios was lower in the current quarter as compared to the
linked quarter and the year ago period. Additionally, as compared
to the linked quarter, the Company noted a reduction in the amount
of interest income resulting from resolution of loans that had been
previously classified as nonaccrual.
- Noninterest income was up 4.2% for the third quarter of fiscal
2020, excluding the impact of the prior period’s gain on
available-for-sale securities, and was down 11.0% as compared to
the second quarter of fiscal 2020, the linked quarter. The current
period was impacted negatively by an impairment charge for mortgage
servicing rights, discussed in detail below.
- Noninterest expense was up 7.6% for the third quarter of fiscal
2020, as compared to the year ago period, and up 3.7% from the
second quarter of fiscal 2020, the linked quarter. The current
quarter was impacted negatively by an increase in provisioning for
off-balance sheet credit exposures, in comparison to the year-ago
period, while acquisition-related costs declined in comparison to
the year-ago period, but increased modestly as compared to the
second quarter of fiscal 2020, the linked period.
Dividend Declared:
The Board of Directors, on April 21, 2020, declared a quarterly
cash dividend on common stock of $0.15, payable May 29, 2020, to
stockholders of record at the close of business on May 15, 2020,
marking the 104th consecutive quarterly dividend since the
inception of the Company. The Board of Directors and management
believe the payment of a quarterly cash dividend enhances
stockholder value and demonstrates our commitment to and confidence
in our future prospects.
COVID-19 Pandemic Response:
Southern Missouri is committed to serving our communities in
this difficult time, and to the safety of our team members and
customers. We have taken a number of actions which merit mention in
this quarterly update.
- The Company has deferred or modified loan payments for loans
totaling $206.2 million through Wednesday, April 22. Generally, the
deferrals are for three-month periods, while interest-only
modifications are for six months. Further information on deferrals
and modifications is included in a table on page 10.
- In the first round of funding made available through the Small
Business Administration’s Paycheck Protection Program, the Company
originated 937 loans totaling $108.8 million through Wednesday,
April 22.
- Beginning Monday, March 23, the Company closed its lobbies to
access except by appointment, and encouraged customers to utilize
our online, mobile, drive-thru, or integrated teller machines
(ITMs) for service when possible. We’ve seen notable increases in
usage for these delivery channels. As an example, video teller
activity through our ITMs in the first twelve weekdays and
Saturdays in the month of April increased by 34% over the
comparable period in March. We are currently planning to begin
re-opening lobbies on Monday, May 4, subject to guidance by state
and local authorities. In a short amount of time we significantly
increased our telework capabilities, and have had as many as 30% of
our team members working remotely for the last month either on a
regular or rotating basis. No team members have been furloughed,
and no furloughs are anticipated. Non-essential business travel has
been suspended.
- As the Company noted in a current report on Form 8-K filed
March 23, 2020, to preserve capital and provide liquidity to meet
the credit needs of its customers, activity under the Company’s
stock repurchase program was temporarily suspended effective after
the close of the market on Thursday, March 26, 2020.
- To provide useful disclosure regarding lending concentrations
in this environment of economic uncertainty, we have prepared
additional information for inclusion in this release. See page
9.
Other News:
As the Company noted in a current report on Form 8-K filed
January 17, 2020, we entered into an Agreement and Plan of Merger
on January 17, 2020, with Central Federal Bancshares, Inc.
(“Central”), which is the parent corporation of Central Federal
Savings & Loan Association of Rolla (“Central Federal”). The
agreement provides that the Company will acquire Central in an
all-cash transaction. As part of the transaction, Central Federal
will merge with and into the Bank. The deal is valued at
approximately $24.0 million, inclusive of the retirement of debt
outstanding under Central’s Employee Stock Ownership Plan.
Completion of the merger, subject to customary closing conditions
including approval by Central shareholders, is currently targeted
for late May 2020. Regulatory approval to proceed with the merger
has been received.
Conference Call:
The Company will host a conference call to review the
information provided in this press release on Thursday, April 30,
2020, at 12:00 noon, central time. 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).
Participants should ask to be joined into the Southern Missouri
Bancorp (SMBC) call. Telephone playback will be available beginning
one hour following the conclusion of the call through May 13, 2020.
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 10143470.
Balance Sheet Summary:
The Company experienced balance sheet growth in the first nine
months of fiscal 2020, with total assets of $2.4 billion at March
31, 2020, reflecting an increase of $160.0 million, or 7.2%, as
compared to June 30, 2019. Asset growth was comprised mainly of
increases in loans, cash and cash equivalents, and
available-for-sale (“AFS”) securities.
AFS securities were $180.6 million at March 31, 2020, an
increase of $15.1 million, or 9.1%, as compared to June 30, 2019.
Cash equivalents and time deposits were a combined $57.1 million,
an increase of $20.7 million, or 56.9%, as compared to June 30,
2019.
Loans, net of the allowance for loan losses, were $2.0 billion
at March 31, 2020, an increase of $121.4 million, or 6.6%, as
compared to June 30, 2019. The portfolio primarily saw growth in
residential real estate loans, commercial real estate loans, and
funded balances in construction loans, partially offset by declines
in commercial loans, and consumer loans. Residential real estate
loan balances were higher as the Company saw increases both in
loans secured by multifamily and 1-to-4 family real estate.
Commercial real estate loans were increased primarily due to loans
secured by nonresidential properties, combined with a small
increase in loans secured by agricultural real estate. Construction
loan balances were increased as a result of both draws on existing
construction loans and new loan originations. The decrease in
commercial loan balances primarily reflected reductions in
commercial and industrial loans and seasonal declines in
agricultural operating and equipment loans. Reductions in consumer
loans consisted primarily of loans secured by deposits, partially
offset by a modest increase in home equity line of credit balances.
Loans anticipated to fund in the next 90 days stood at $76.6
million at March 31, 2020, as compared to $77.7 million at March
31, 2019, and $83.3 million at June 30, 2019.
Nonperforming loans were $11.4 million, or 0.57% of gross loans,
at March 31, 2020, as compared to $21.0 million, or 1.13% of gross
loans at June 30, 2019, and $22.7 million, or 1.23% of gross loans,
at March 31, 2019. Nonperforming assets were $14.9 million, or
0.63% of total assets, at March 31, 2020, as compared to $24.8
million, or 1.12% of total assets, at June 30, 2019, and $26.3
million, or 1.21% of total assets, at March 31, 2019. The decrease
in nonperforming loans since June 30, 2019, was attributed
primarily to the resolution of certain nonperforming loans acquired
in the Gideon Acquisition. The Gideon Acquisition resulted in an
increase in nonperforming loans of $12.9 million (at fair value) as
of December 31, 2018, the quarter end following the acquisition. At
June 30, 2019, nonperforming loans from that acquisition had
declined to $10.2 million, and they have declined further to $2.4
million as of March 31, 2020. The decrease in nonperforming loans
was also the principal reason for the decrease in nonperforming
assets. Our allowance for loan losses at March 31, 2020, totaled
$23.5 million, representing 1.18% of gross loans and 205.7% of
nonperforming loans, as compared to $19.9 million, or 1.07% of
gross loans and 94.7% of nonperforming loans, at June 30, 2019. For
all impaired loans, the Company has measured impairment under ASC
310-10-35. Management believes the allowance for loan losses at
March 31, 2020, is adequate, based on that measurement; however,
there remains significant uncertainty regarding the possible length
of the COVID-19 pandemic and the aggregate impact that it will have
on global and regional economies, including uncertainty regarding
the effectiveness of recent efforts by the U.S. government and
Federal Reserve to respond to the pandemic and its economic impact.
Management considered the impact of the pandemic on its consumer
and business borrowers, particularly those business borrowers most
affected by efforts to contain the pandemic, including our
borrowers in the retail and multi-tenant retail industry,
restaurants, and hotels.
The Company has been working towards adoption of ASU 2016-13,
regarding the current expected credit loss (CECL) standard. Based
on FASB implementation timelines, the standard was to be effective
for the Company on July 1, 2020, following the end of our current
fiscal year. Under the Coronavirus Aid, Relief and Economic
Security (CARES) Act, the Company has the option to temporarily
delay implementation of the standard until the earlier of December
31, 2020, or the termination of the declared national emergency
related to the COVID-19 pandemic. At this time, the Company is
continuing to prepare as if we will adopt on July 1, 2020, but we
will continue to monitor the situation and evaluate our
options.
Total liabilities were $2.1 billion at March 31, 2020, an
increase of $148.6 million, or 7.5%, as compared to June 30,
2019.
Deposits were $2.0 billion at March 31, 2020, an increase of
$78.0 million, or 4.1%, as compared to June 30, 2019. Deposit
growth was partially offset by a reduction in brokered deposits,
which declined on net by $15.5 million, reflecting a decrease in
brokered time deposits of $21.6 million, and an increase in
brokered money market deposits of $6.1 million. Brokered time
deposits were $23.3 million, and brokered money market deposits
were $14.4 million, at March 31, 2020. The Company has utilized
FHLB funding in lieu of brokered funding primarily due to rate and
term availability. Public unit balances were $292.1 million at
March 31, 2020, reflecting an increase of $25.3 million as compared
to June 30, 2019, which is due in part to seasonal public unit
flows of funds. In total, deposit balances saw increases in
interest-bearing transaction accounts, money market deposit
accounts, and noninterest-bearing transaction accounts, partially
offset by declines in certificates of deposit and savings accounts.
The average loan-to-deposit ratio for the second quarter of fiscal
2020 was 99.9%, as compared to 97.2% for the same period of the
prior fiscal year.
FHLB advances were $123.4 million at March 31, 2020, an increase
of $78.5 million, or 174.7%, as compared to June 30, 2019, with the
increase attributable to the Company’s use of this funding source
to fund increases in loans, cash balances, and securities in excess
of our increases in deposits and retained earnings. The increase
consisted of $53.1 million in overnight funding and $25.4 million
in term advances. Over the past several years, the Company has
worked to move public unit and business customers from a swept
repurchase agreement product, which required the use of the
Company’s AFS securities portfolio to collateralize those
borrowings, to a reciprocal deposit product. During the first
quarter of fiscal 2020, the final customers utilizing the sweep
product were migrated, and the Company saw a reduction of $4.4
million in this funding source as compared to June 30, 2019.
The Company’s stockholders’ equity was $249.9 million at March
31, 2020, an increase of $11.5 million, or 4.8%, as compared to
June 30, 2019. The increase was attributable primarily to retained
earnings, partially offset by cash dividends paid and by
repurchases during the fiscal year of 182,598 Company shares
acquired for $5.8 million, for an average price of $31.61 per
share. As the Company noted in a current report on Form 8-K filed
March 23, 2020, activity under the repurchase program was
temporarily suspended effective after the close of the market on
Thursday, March 26, 2020.
Quarterly Income Statement Summary:
The Company’s net interest income for the three-month period
ended March 31, 2020, was $19.4 million, an increase of $864,000,
or 4.7%, as compared to the same period of the prior fiscal year.
The increase was attributable primarily to a 7.7% increase in the
average balance of interest-earning assets, partially offset by a
decrease in net interest margin to 3.63% in the current three-month
period, from 3.73% in the three-month period a year ago.
Loan discount accretion and deposit premium amortization related
to the Company’s August 2014 acquisition of Peoples Bank of the
Ozarks (Peoples), the June 2017 acquisition of Capaha Bank
(Capaha), the February 2018 acquisition of Southern Missouri Bank
of Marshfield (SMB-Marshfield), and the Gideon Acquisition resulted
in an additional $410,000 in net interest income for the
three-month period ended March 31, 2020, as compared to $631,000 in
net interest income for the same period a year ago. The decline is
attributable to expected reductions in discount accretion as
additional time has elapsed since the loan portfolios were acquired
and balances have declined. The Company generally expects this
component of net interest income will continue to decline over
time, although volatility may occur to the extent we have periodic
resolutions of specific credit impaired loans. Combined, these
components of net interest income contributed eight basis points to
net interest margin in the three-month period ended March 31, 2020,
as compared to a contribution of 13 basis points in the same period
of the prior fiscal year, and as compared to the 10 basis point
contribution in the linked quarter, ended December 31, 2019, when
net interest margin was 3.70%. Additionally, in the linked period,
the Company recognized an additional $194,000 in interest income as
a result of the resolution of nonperforming loans. This recognition
of interest income contributed four basis points to the net
interest margin in the linked period, without material comparable
items in the current period.
The provision for loan losses for the three-month period ended
March 31, 2020, was $2.9 million, as compared to $491,000 in the
same period of the prior fiscal year. Increased provisioning was
attributable primarily to increased uncertainty regarding the
economic environment and its potential impact on the Company’s
borrowers. Stronger loan growth and increases in classified and
delinquent credits also contributed. As a percentage of average
loans outstanding, the provision for loan losses in the current
three-month period represented a charge of 0.58% (annualized),
while the Company recorded net charge offs during the period of
0.03% (annualized). During the same period of the prior fiscal
year, the provision for loan losses as a percentage of average
loans outstanding represented a charge of 0.11% (annualized), while
the Company recorded net charge offs of 0.02% (annualized).
The Company’s noninterest income for the three-month period
ended March 31, 2020, was $3.9 million, a decrease of $90,000, or
2.3%, as compared to the same period of the prior fiscal year. The
year ago period included $244,000 in gains on sales of AFS
securities, and $214,000 in other identified nonrecurring benefits.
In the current period, increases in deposit account service charges
and bank card interchange income were mostly offset by a decline in
mortgage servicing income, as the Company recognized a $395,000
impairment of its mortgage servicing rights due to the decline in
market interest rates and a coincident increase in expected
prepayments. Deposit account service charges increased primarily as
a result of a 12.7% increase in the number of NSF items presented,
as well as a 12.0% increase in fees charged for NSF items effective
October 1, 2019. These service charges typically see a seasonal
reduction late in the March quarter when consumers receive income
tax refunds, and the Company would expect that impact, coupled with
COVID-19 Economic Impact Payments, reduced gasoline prices, and
other spending reductions to result in an even more pronounced
reduction in these charges in coming quarters. Bank card
interchange income increased as a result of a 9.6% increase in bank
card dollar volume and incentive benefits under a new affiliation
contract. We anticipate interchange income may decline as well due
to reductions in depositor purchasing activity.
Noninterest expense for the three-month period ended March 31,
2020, was $14.2 million, an increase of $1.0 million, or 7.6%, as
compared to the same period of the prior fiscal year. The increase
was attributable primarily to increases in compensation and
benefits, occupancy and data processing expenses, provisioning for
off-balance sheet credit exposures, losses and expenses on
foreclosed real estate, and bank card network expense, partially
offset by a decrease in deposit insurance premiums. Based on the
same qualitative evaluation of loss exposure utilized in the
allowance for loan losses, the Company saw an increase in its
off-balance sheet credit exposure, resulting in a charge of
$300,000 in the current period, as compared to a charge of $9,000
in the year ago period. Partially offsetting these increases, the
FDIC continued applying credits to the deposit insurance
assessments due from smaller banks, such as the Company’s
subsidiary, resulting in no deposit insurance premium expense for
the Company in the current quarter, as compared to an expense of
$157,000 in the year ago period. As the credits are exhausted in
all material respects, the expense will return to a normalized
level for the quarter ended June 30, 2020. After recording $243,000
in charges related to merger and acquisition activity in the same
quarter a year ago, the Company recorded only $76,000 in comparable
expenses in the current period. Additionally, the year ago period
included $185,000 in other nonrecurring charges. The efficiency
ratio for the three-month period ended March 31, 2020, was 61.0%,
as compared to 59.3% in the same period of the prior fiscal year,
as noninterest expenses, including provision for off-balance sheet
credit exposure, grew at a faster rate over the prior year as
compared to net interest income, due to margin compression, and as
compared to noninterest income, due primarily to the impairment
charge recorded on the Company’s mortgage servicing rights.
The income tax provision for the three-month period ended March
31, 2020, was $1.1 million, a decrease of $596,000, or 34.6%, as
compared to the same period of the prior fiscal year, attributable
primarily to lower pre-tax income, combined with a decrease in the
effective tax rate, to 18.1%, as compared to 19.6% in the year-ago
period.
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: potential adverse impacts to the economic conditions in
the Company’s local market areas, other markets where the Company
has lending relationships, or other aspects of the Company’s
business operations or financial markets, generally, resulting from
the ongoing COVID-19 pandemic and any governmental or societal
responses thereto; expected cost savings, synergies and other
benefits from our merger and acquisition activities might not be
realized to the extent anticipated, within the anticipated time
frames, or at all, and costs or difficulties relating to
integration matters, including but not limited to customer and
employee retention, might be greater than expected; 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 FRB 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; fluctuations in real estate values and both
residential and commercial real estate markets, as well as
agricultural business conditions; demand for loans and deposits;
legislative or regulatory changes that adversely affect our
business; changes in accounting principles, policies, or
guidelines; results of regulatory examinations, including the
possibility that a regulator may, among other things, require an
increase in our reserve for loan losses or write-down of 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 |
|
|
|
|
|
|
|
|
|
|
|
|
Summary Balance Sheet
Data as of: |
|
Mar. 31, |
|
Dec. 31, |
|
Sep. 30, |
|
June 30, |
|
Mar. 31, |
|
(dollars in thousands,
except per share data) |
|
|
2020 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents and time
deposits |
|
$ |
57,078 |
|
|
$ |
42,015 |
|
|
$ |
32,394 |
|
|
$ |
36,369 |
|
|
$ |
32,353 |
|
|
Available for sale
securities |
|
|
180,592 |
|
|
|
175,843 |
|
|
|
171,006 |
|
|
|
165,535 |
|
|
|
161,510 |
|
|
FHLB/FRB membership stock |
|
|
13,054 |
|
|
|
12,522 |
|
|
|
12,083 |
|
|
|
9,583 |
|
|
|
9,216 |
|
|
Loans receivable, gross |
|
|
1,991,328 |
|
|
|
1,943,599 |
|
|
|
1,895,207 |
|
|
|
1,866,308 |
|
|
|
1,842,883 |
|
|
Allowance for loan
losses |
|
|
23,508 |
|
|
|
20,814 |
|
|
|
20,710 |
|
|
|
19,903 |
|
|
|
19,434 |
|
|
Loans receivable, net |
|
|
1,967,820 |
|
|
|
1,922,785 |
|
|
|
1,874,497 |
|
|
|
1,846,405 |
|
|
|
1,823,449 |
|
|
Bank-owned life insurance |
|
|
39,095 |
|
|
|
38,847 |
|
|
|
38,593 |
|
|
|
38,337 |
|
|
|
38,086 |
|
|
Intangible assets |
|
|
21,573 |
|
|
|
22,423 |
|
|
|
22,889 |
|
|
|
23,328 |
|
|
|
23,991 |
|
|
Premises and equipment |
|
|
64,705 |
|
|
|
65,006 |
|
|
|
63,484 |
|
|
|
62,727 |
|
|
|
62,508 |
|
|
Other assets |
|
|
30,531 |
|
|
|
32,408 |
|
|
|
34,265 |
|
|
|
32,118 |
|
|
|
25,334 |
|
|
Total assets |
|
$ |
2,374,448 |
|
|
$ |
2,311,849 |
|
|
$ |
2,249,211 |
|
|
$ |
2,214,402 |
|
|
$ |
2,176,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits |
|
$ |
1,738,379 |
|
|
$ |
1,691,010 |
|
|
$ |
1,663,874 |
|
|
$ |
1,674,806 |
|
|
$ |
1,649,830 |
|
|
Noninterest-bearing
deposits |
|
|
233,268 |
|
|
|
223,604 |
|
|
|
208,646 |
|
|
|
218,889 |
|
|
|
224,284 |
|
|
Securities sold under
agreements to repurchase |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4,376 |
|
|
|
4,703 |
|
|
FHLB advances |
|
|
123,361 |
|
|
|
114,646 |
|
|
|
103,327 |
|
|
|
44,908 |
|
|
|
38,388 |
|
|
Note payable |
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
Other liabilities |
|
|
11,469 |
|
|
|
15,627 |
|
|
|
13,034 |
|
|
|
14,988 |
|
|
|
9,845 |
|
|
Subordinated debt |
|
|
15,118 |
|
|
|
15,093 |
|
|
|
15,068 |
|
|
|
15,043 |
|
|
|
15,018 |
|
|
Total liabilities |
|
|
2,124,595 |
|
|
|
2,062,980 |
|
|
|
2,006,949 |
|
|
|
1,976,010 |
|
|
|
1,945,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stockholders'
equity |
|
|
249,853 |
|
|
|
248,869 |
|
|
|
242,262 |
|
|
|
238,392 |
|
|
|
231,379 |
|
|
Total
stockholders' equity |
|
|
249,853 |
|
|
|
248,869 |
|
|
|
242,262 |
|
|
|
238,392 |
|
|
|
231,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
$ |
2,374,448 |
|
|
$ |
2,311,849 |
|
|
$ |
2,249,211 |
|
|
$ |
2,214,402 |
|
|
$ |
2,176,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity to assets ratio |
|
|
10.52 |
% |
|
|
10.76 |
% |
|
|
10.77 |
% |
|
|
10.77 |
% |
|
|
10.63 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares outstanding |
|
|
9,128,290 |
|
|
|
9,206,783 |
|
|
|
9,201,783 |
|
|
|
9,289,308 |
|
|
|
9,324,659 |
|
|
Less: Restricted common
shares not vested |
|
|
28,925 |
|
|
|
24,900 |
|
|
|
25,975 |
|
|
|
28,250 |
|
|
|
28,250 |
|
|
Common shares for book value
determination |
|
|
9,099,365 |
|
|
|
9,181,883 |
|
|
|
9,175,808 |
|
|
|
9,261,058 |
|
|
|
9,296,409 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Book value per common
share |
|
$ |
27.46 |
|
|
$ |
27.10 |
|
|
$ |
26.40 |
|
|
$ |
25.74 |
|
|
$ |
24.89 |
|
|
Closing market price |
|
|
24.27 |
|
|
|
38.36 |
|
|
|
36.43 |
|
|
|
34.83 |
|
|
|
30.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming asset
data as of: |
|
Mar. 31, |
|
Dec. 31, |
|
Sep. 30, |
|
June 30, |
|
Mar. 31, |
|
(dollars in
thousands) |
|
|
2020 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans |
|
$ |
11,428 |
|
|
$ |
10,419 |
|
|
$ |
14,023 |
|
|
$ |
21,013 |
|
|
$ |
22,690 |
|
|
Accruing loans 90 days or more
past due |
|
|
- |
|
|
|
1 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Total nonperforming
loans |
|
|
11,428 |
|
|
|
10,420 |
|
|
|
14,023 |
|
|
|
21,013 |
|
|
|
22,690 |
|
|
Other real estate owned
(OREO) |
|
|
3,401 |
|
|
|
3,668 |
|
|
|
3,820 |
|
|
|
3,723 |
|
|
|
3,617 |
|
|
Personal property
repossessed |
|
|
38 |
|
|
|
26 |
|
|
|
71 |
|
|
|
29 |
|
|
|
2 |
|
|
Total nonperforming
assets |
|
$ |
14,867 |
|
|
$ |
14,114 |
|
|
$ |
17,914 |
|
|
$ |
24,765 |
|
|
$ |
26,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming assets to
total assets |
|
|
0.63 |
% |
|
|
0.61 |
% |
|
|
0.80 |
% |
|
|
1.12 |
% |
|
|
1.21 |
% |
|
Total nonperforming loans to
gross loans |
|
|
0.57 |
% |
|
|
0.54 |
% |
|
|
0.74 |
% |
|
|
1.13 |
% |
|
|
1.23 |
% |
|
Allowance for loan losses to
nonperforming loans |
|
|
205.71 |
% |
|
|
199.75 |
% |
|
|
147.69 |
% |
|
|
94.72 |
% |
|
|
85.65 |
% |
|
Allowance for loan losses to
gross loans |
|
|
1.18 |
% |
|
|
1.07 |
% |
|
|
1.09 |
% |
|
|
1.07 |
% |
|
|
1.05 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing troubled debt
restructurings (1) |
|
$ |
14,196 |
|
|
$ |
14,814 |
|
|
$ |
12,432 |
|
|
$ |
13,289 |
|
|
$ |
17,577 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Nonperforming troubled debt restructurings are included with
nonaccrual loans or accruing loans 90 days or more past due. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended |
Quarterly Average
Balance Sheet Data: |
|
Mar. 31, |
|
Dec. 31, |
|
Sep. 30, |
|
June 30, |
|
Mar. 31, |
|
(dollars in
thousands) |
|
|
2020 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing cash
equivalents |
|
$ |
7,363 |
|
|
$ |
6,322 |
|
|
$ |
7,001 |
|
|
$ |
6,079 |
|
|
$ |
3,544 |
|
|
Available for sale securities
and membership stock |
|
|
184,389 |
|
|
|
183,748 |
|
|
|
179,623 |
|
|
|
174,063 |
|
|
|
183,717 |
|
|
Loans receivable, gross |
|
|
1,950,887 |
|
|
|
1,903,230 |
|
|
|
1,865,344 |
|
|
|
1,833,344 |
|
|
|
1,803,070 |
|
|
Total interest-earning
assets |
|
|
2,142,639 |
|
|
|
2,093,300 |
|
|
|
2,051,968 |
|
|
|
2,013,486 |
|
|
|
1,990,331 |
|
|
Other assets |
|
|
180,981 |
|
|
|
184,028 |
|
|
|
184,415 |
|
|
|
185,403 |
|
|
|
189,503 |
|
|
Total assets |
|
$ |
2,323,620 |
|
|
$ |
2,277,328 |
|
|
$ |
2,236,383 |
|
|
$ |
2,198,889 |
|
|
$ |
2,179,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits |
|
$ |
1,729,327 |
|
|
$ |
1,674,198 |
|
|
$ |
1,660,994 |
|
|
$ |
1,652,831 |
|
|
$ |
1,621,580 |
|
|
Securities sold under
agreements to repurchase |
|
|
- |
|
|
|
- |
|
|
|
328 |
|
|
|
4,463 |
|
|
|
4,267 |
|
|
FHLB advances |
|
|
83,916 |
|
|
|
99,728 |
|
|
|
82,192 |
|
|
|
51,304 |
|
|
|
67,091 |
|
|
Note payable |
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
Subordinated debt |
|
|
15,105 |
|
|
|
15,080 |
|
|
|
15,055 |
|
|
|
15,031 |
|
|
|
15,006 |
|
|
Total interest-bearing
liabilities |
|
|
1,831,348 |
|
|
|
1,792,006 |
|
|
|
1,761,569 |
|
|
|
1,726,629 |
|
|
|
1,710,944 |
|
|
Noninterest-bearing
deposits |
|
|
226,177 |
|
|
|
224,687 |
|
|
|
221,202 |
|
|
|
224,932 |
|
|
|
233,296 |
|
|
Other noninterest-bearing
liabilities |
|
|
15,322 |
|
|
|
15,033 |
|
|
|
13,568 |
|
|
|
12,548 |
|
|
|
7,994 |
|
|
Total liabilities |
|
|
2,072,847 |
|
|
|
2,031,726 |
|
|
|
1,996,339 |
|
|
|
1,964,109 |
|
|
|
1,952,234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stockholders'
equity |
|
|
250,773 |
|
|
|
245,602 |
|
|
|
240,044 |
|
|
|
234,780 |
|
|
|
227,600 |
|
|
Total stockholders'
equity |
|
|
250,773 |
|
|
|
245,602 |
|
|
|
240,044 |
|
|
|
234,780 |
|
|
|
227,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
$ |
2,323,620 |
|
|
$ |
2,277,328 |
|
|
$ |
2,236,383 |
|
|
$ |
2,198,889 |
|
|
$ |
2,179,834 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended |
Quarterly Summary
Income Statement Data: |
|
Mar. 31, |
|
Dec. 31, |
|
Sep. 30, |
|
June 30, |
|
Mar. 31, |
|
(dollars in thousands,
except per share data) |
|
|
2020 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income: |
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
33 |
|
|
$ |
31 |
|
|
$ |
46 |
|
|
$ |
38 |
|
|
$ |
28 |
|
|
Available for sale
securities and membership stock |
|
|
1,218 |
|
|
|
1,194 |
|
|
|
1,236 |
|
|
|
1,220 |
|
|
|
1,320 |
|
|
Loans receivable |
|
|
24,969 |
|
|
|
25,421 |
|
|
|
25,640 |
|
|
|
24,789 |
|
|
|
23,838 |
|
|
Total interest
income |
|
|
26,220 |
|
|
|
26,646 |
|
|
|
26,922 |
|
|
|
26,047 |
|
|
|
25,186 |
|
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
6,135 |
|
|
|
6,448 |
|
|
|
6,578 |
|
|
|
6,422 |
|
|
|
5,851 |
|
|
Securities sold under
agreements to repurchase |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
|
|
10 |
|
|
FHLB advances |
|
|
439 |
|
|
|
573 |
|
|
|
522 |
|
|
|
352 |
|
|
|
495 |
|
|
Note payable |
|
|
31 |
|
|
|
34 |
|
|
|
37 |
|
|
|
38 |
|
|
|
37 |
|
|
Subordinated debt |
|
|
197 |
|
|
|
214 |
|
|
|
225 |
|
|
|
232 |
|
|
|
239 |
|
|
Total interest
expense |
|
|
6,802 |
|
|
|
7,269 |
|
|
|
7,362 |
|
|
|
7,054 |
|
|
|
6,632 |
|
|
Net interest income |
|
|
19,418 |
|
|
|
19,377 |
|
|
|
19,560 |
|
|
|
18,993 |
|
|
|
18,554 |
|
|
Provision for loan losses |
|
|
2,850 |
|
|
|
388 |
|
|
|
896 |
|
|
|
546 |
|
|
|
491 |
|
|
Securities gains |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
244 |
|
|
Other noninterest income |
|
|
3,856 |
|
|
|
4,334 |
|
|
|
4,101 |
|
|
|
3,741 |
|
|
|
3,702 |
|
|
Noninterest expense |
|
|
14,196 |
|
|
|
13,685 |
|
|
|
12,961 |
|
|
|
12,778 |
|
|
|
13,190 |
|
|
Income taxes |
|
|
1,129 |
|
|
|
1,921 |
|
|
|
1,976 |
|
|
|
1,853 |
|
|
|
1,725 |
|
|
Net income |
|
$ |
5,099 |
|
|
$ |
7,717 |
|
|
$ |
7,828 |
|
|
$ |
7,557 |
|
|
$ |
7,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common
share |
|
$ |
0.55 |
|
|
$ |
0.84 |
|
|
$ |
0.85 |
|
|
$ |
0.81 |
|
|
$ |
0.76 |
|
|
Diluted earnings per common
share |
|
|
0.55 |
|
|
|
0.84 |
|
|
|
0.85 |
|
|
|
0.81 |
|
|
|
0.76 |
|
|
Dividends per common
share |
|
|
0.15 |
|
|
|
0.15 |
|
|
|
0.15 |
|
|
|
0.13 |
|
|
|
0.13 |
|
|
Average common shares
outstanding: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
9,197,000 |
|
|
|
9,202,000 |
|
|
|
9,232,000 |
|
|
|
9,316,000 |
|
|
|
9,323,000 |
|
|
Diluted |
|
|
9,205,000 |
|
|
|
9,213,000 |
|
|
|
9,244,000 |
|
|
|
9,328,000 |
|
|
|
9,331,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets |
|
|
0.88 |
% |
|
|
1.36 |
% |
|
|
1.40 |
% |
|
|
1.37 |
% |
|
|
1.30 |
% |
|
Return on average common
stockholders' equity |
|
|
8.1 |
% |
|
|
12.6 |
% |
|
|
13.0 |
% |
|
|
12.9 |
% |
|
|
12.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin |
|
|
3.63 |
% |
|
|
3.70 |
% |
|
|
3.81 |
% |
|
|
3.77 |
% |
|
|
3.73 |
% |
|
Net interest spread |
|
|
3.40 |
% |
|
|
3.47 |
% |
|
|
3.58 |
% |
|
|
3.54 |
% |
|
|
3.51 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Efficiency ratio |
|
|
61.0 |
% |
|
|
57.7 |
% |
|
|
54.8 |
% |
|
|
56.2 |
% |
|
|
59.3 |
% |
|
Loan Portfolio
Balances as of: |
|
|
|
|
|
|
|
|
Mar. 31, |
|
|
|
(dollars in
thousands) |
|
|
|
|
|
|
|
|
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1- to 4-family
residential |
|
|
|
|
|
|
|
|
$ |
392,532 |
|
|
|
Multifamily residential |
|
|
|
|
|
|
|
|
|
191,244 |
|
|
|
Total
residential |
|
|
|
|
|
|
|
|
|
583,776 |
|
|
|
1- to 4-family owner-occupied
construction |
|
|
|
|
|
|
|
|
|
22,728 |
|
|
|
1- to 4-family speculative
construction |
|
|
|
|
|
|
|
|
|
12,837 |
|
|
|
Multifamily construction |
|
|
|
|
|
|
|
|
|
37,819 |
|
|
|
Other construction |
|
|
|
|
|
|
|
|
|
18,669 |
|
|
|
Total
construction balances drawn |
|
|
|
|
|
|
|
|
|
92,053 |
|
|
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
186,855 |
|
|
|
Vacant land -
developed, undeveloped, and other purposes |
|
|
|
|
|
|
|
58,312 |
|
|
|
Owner-occupied commercial real
estate loans to: |
|
Churches and
nonprofits |
|
|
16,105 |
|
|
|
|
|
Non-professional
services |
|
|
11,883 |
|
|
|
|
|
Retail |
|
|
23,932 |
|
|
|
|
|
Automobile
dealerships |
|
|
|
|
|
19,191 |
|
|
|
|
|
Healthcare
providers |
|
|
3,685 |
|
|
|
|
|
Restaurants |
|
|
43,958 |
|
|
|
|
|
Convenience
stores |
|
|
24,209 |
|
|
|
|
|
Automotive
services |
|
|
7,609 |
|
|
|
|
|
Manufacturing |
|
|
17,725 |
|
|
|
|
|
Professional
services |
|
|
18,703 |
|
|
|
|
|
Warehouse/distribution |
|
|
3,543 |
|
|
|
|
|
Grocery |
|
|
4,999 |
|
|
|
|
|
Other |
|
|
32,190 |
|
|
|
|
|
Total
owner-occupied commercial real estate loans |
|
|
227,732 |
|
|
|
Non-owner-occupied
commercial real estate loans to: |
Care
facilities |
|
|
29,153 |
|
|
|
|
|
Non-professional
services |
|
|
15,385 |
|
|
|
|
|
Retail |
|
|
40,059 |
|
|
|
|
|
Healthcare
providers |
|
|
22,268 |
|
|
|
|
|
Restaurants |
|
|
51,173 |
|
|
|
|
|
Convenience
stores |
|
|
8,412 |
|
|
|
|
|
Automotive
services |
|
|
6,471 |
|
|
|
|
|
Hotels |
|
|
77,562 |
|
|
|
|
|
Manufacturing |
|
|
5,068 |
|
|
|
|
|
Storage units |
|
|
11,601 |
|
|
|
|
|
Professional
services |
|
|
9,196 |
|
|
|
|
|
Multi-tenant
retail |
|
|
81,184 |
|
|
|
|
|
Warehouse/distribution |
|
|
26,289 |
|
|
|
|
|
Other |
|
|
36,549 |
|
|
|
|
|
Total
non-owner-occupied commercial real estate |
|
|
420,370 |
|
|
|
Total
commercial real estate |
|
|
|
|
|
|
|
|
|
893,269 |
|
|
|
Home equity lines of
credit |
|
|
|
|
|
|
|
|
|
44,924 |
|
|
|
Deposit-secured loans |
|
|
|
|
|
|
|
|
|
18,875 |
|
|
|
All other consumer loans |
|
|
|
|
|
|
|
|
|
30,846 |
|
|
|
Total consumer
loans |
|
|
|
|
|
|
|
|
|
94,645 |
|
|
|
Agricultural production and
equipment loans |
|
|
|
|
|
|
|
|
|
87,409 |
|
|
|
Loans to municipalities or
other public units |
|
|
|
|
|
|
|
|
|
11,904 |
|
|
|
Commercial and industrial
loans to: |
|
Forestry, fishing,
and hunting |
|
|
5,893 |
|
|
|
|
|
Construction |
|
|
19,972 |
|
|
|
|
|
Finance and
insurance |
|
|
48,857 |
|
|
|
|
|
Real estate rental
and leasing |
|
|
16,090 |
|
|
|
|
|
Healthcare and
social assistance |
|
|
8,078 |
|
|
|
|
|
Accommodations and
food services |
|
|
11,735 |
|
|
|
|
|
Manufacturing |
|
|
7,273 |
|
|
|
|
|
Retail trade |
|
|
44,974 |
|
|
|
|
|
Transportation and
warehousing |
|
|
27,027 |
|
|
|
|
|
Administrative
support and waste management |
|
|
4,984 |
|
|
|
|
|
Arts,
entertainment, and recreation |
|
|
5,059 |
|
|
|
|
|
Other commercial
loans |
|
|
28,332 |
|
|
|
|
|
Total commercial
and industrial loans |
|
|
228,274 |
|
|
|
Total
commercial loans |
|
|
|
|
|
|
|
|
|
327,587 |
|
|
|
Total gross loans receivable, excluding deferred loan
fees |
|
|
|
|
|
|
$ |
1,991,330 |
|
|
|
Loan
Deferrals and Modifications Related to COVID-19 |
|
|
|
|
|
|
Through April 22, 2020 |
|
(dollars in
thousands) |
|
|
|
|
|
|
|
|
Payment |
|
Interest-only |
|
|
|
|
|
|
|
|
|
|
Deferrals |
|
Modifications |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1- to 4-family
residential |
|
|
|
|
|
|
|
|
$ |
8,403 |
|
$ |
13,688 |
|
Multifamily residential |
|
|
|
|
|
|
|
|
|
5,164 |
|
|
5,848 |
|
Total residential |
|
|
|
|
|
|
|
|
|
13,567 |
|
|
19,536 |
|
1- to 4-family owner-occupied
construction |
|
|
|
|
|
|
|
|
|
- |
|
|
- |
|
1- to 4-family speculative
construction |
|
|
|
|
|
|
|
|
|
- |
|
|
- |
|
Multifamily construction |
|
|
|
|
|
|
|
|
|
- |
|
|
- |
|
Other construction |
|
|
|
|
|
|
|
|
|
4,367 |
|
|
290 |
|
Total construction
balances drawn |
|
|
|
|
|
|
|
|
|
4,367 |
|
|
290 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
457 |
|
|
3,480 |
|
Vacant land -
developed, undeveloped, and other purposes |
|
|
|
|
|
|
|
106 |
|
|
1,825 |
|
Owner-occupied commercial real
estate |
|
|
|
|
|
|
|
|
|
20,222 |
|
|
32,426 |
|
Non-owner-occupied commercial
real estate |
|
|
|
|
|
|
|
|
|
52,124 |
|
|
45,154 |
|
Total commercial real
estate |
|
|
|
|
|
|
|
|
|
72,909 |
|
|
82,885 |
|
Home equity lines of
credit |
|
|
|
|
|
|
|
|
|
91 |
|
|
- |
|
Deposit-secured loans |
|
|
|
|
|
|
|
|
|
40 |
|
|
- |
|
All other consumer loans |
|
|
|
|
|
|
|
|
|
1,000 |
|
|
51 |
|
Total consumer
loans |
|
|
|
|
|
|
|
|
|
1,131 |
|
|
51 |
|
Agricultural production and
equipment loans |
|
|
|
|
|
|
|
|
|
450 |
|
|
451 |
|
Loans to municipalities or
other public units |
|
|
|
|
|
|
|
|
|
- |
|
|
- |
|
Commercial and industrial
loans |
|
|
|
|
|
|
|
|
|
1,368 |
|
|
9,211 |
|
Total commercial
loans |
|
|
|
|
|
|
|
|
|
1,818 |
|
|
9,662 |
|
Total loans
outstanding |
|
|
|
|
|
|
|
|
$ |
93,792 |
|
$ |
112,424 |
|
Through April 22, 2020, the Company had approved requests for
520 payment modifications and deferrals totaling $206.4
million. Of note, 94% of the dollar amount of deferrals and
modifications approved for other construction loans are loans for
the construction of a hotel.
For owner-occupied commercial real estate, 31% of the dollar
amount of deferrals and modifications approved are loans secured by
restaurants, 27% are loans secured by convenience stores, 9% are
loans secured by manufacturing properties, 9% are loans secured by
retail properties, and 7% are loans secured by auto dealers.
For non-owner-occupied commercial real estate, 34% of the dollar
amount of deferrals and modifications approved are loans secured by
multi-tenant retail, 25% are loans secured by hotels, 15% are loans
secured by restaurants, and 13% are loans secured by care
facilities.
Within our commercial real estate categories, 34.0% of our loans
secured by hotels, 32.7% of our loan secured by restaurants, and
41.0% of our loans secured by multi-tenant retail have been
modified or deferred.
Finally, for commercial and industrial loans, 19% of the dollar
amount of deferrals and modifications approved are loans to firms
in the transportation and warehousing industry, 18% are loans to
firms in administrative support or waste management, 15% are loans
to firms in healthcare or social assistance, 13% are loans to firms
in accommodation or food services, 11% are loans to firms in retail
trade, and 11% are loans to firms in real estate rental and
leasing.
Matt Funke, CFO
573-778-1800
Southern Missouri Bancorp (NASDAQ:SMBC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Southern Missouri Bancorp (NASDAQ:SMBC)
Historical Stock Chart
From Apr 2023 to Apr 2024