Highlights:
· Preliminary
fiscal year 2013 third quarter earnings per common share (diluted)
reported at $.71, up from $.64 in the year ago period, as net
income available to common shareholders increased to $2.4 million,
as compared to $2.1 million in the year ago period. Earnings
per common share (diluted) were down $.01, as compared to the $.72
earned in the second quarter of fiscal 2013, the linked
quarter.
· For the third
quarter of fiscal 2013, the Company generated an annualized return
on average assets of 1.26% and an annualized return on average
common equity of 12.1%, as compared to 1.13% and 11.8%,
respectively, for the same period of the prior year. In the
second quarter of fiscal 2013, the linked quarter, the annualized
return on average assets was 1.32%, and the annualized return on
average common equity was 12.5%.
· Net interest
margin for the third quarter of fiscal 2013 was 3.77%, down from
the 3.97% reported for the year ago period, and down from the net
interest margin of 4.17% for the second quarter of fiscal 2013, the
linked quarter.
· Noninterest
income was up 19.8% for the third quarter of fiscal 2013, compared
to the year ago period, and up 2.3% from the second quarter of
fiscal 2013, the linked quarter.
· Noninterest
expense was down 8.8% for the third quarter of fiscal 2013,
compared to the year ago period (the year ago period included
$476,000 in noninterest expense resulting from the prepayment of
Federal Home Loan Bank [FHLB] advances), and unchanged from the
second quarter of fiscal 2013, the linked quarter.
· The Company
posted loan growth of $33.7 million, or 5.8%, during the first nine
months of fiscal 2013; deposits increased $46.1 million, or
7.9%. Available-for-sale investments were up $5.0 million, or
6.6%, and cash and time deposit balances were up $7.6 million, or
21.9%.
· Non-performing
assets increased in the first nine months of fiscal 2013, but were
down from totals reported at December 31, 2012, as the Company
worked through the resolution process of several previously
classified credits.
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 2013 of $2.4 million, an increase of
$290,000, or 13.6%, as compared to $2.1 million in net income
available to common shareholders earned during the same period of
the prior fiscal year. The increase was attributable
primarily to a decrease in noninterest expense, an increase in
noninterest income, and a decrease in provision for income taxes,
partially offset by a decrease in net interest income.
Preliminary net income available to common shareholders was $.71
per fully diluted common share for the third quarter of fiscal
2013, an increase of 10.9% as compared to the $.64 per fully
diluted common share earned during the same period of the prior
fiscal year. Before the dividend on preferred shares of
$50,000, preliminary net income for the third quarter of fiscal
2013 was $2.5 million, an increase of $290,000, or 13.3%, as
compared to the same period of the prior fiscal year.
Preliminary net income available to common shareholders for the
first nine months of fiscal 2013 was announced at $7.2 million, a
decrease of $57,000, or 0.8%, as compared to $7.3 million in net
income available to common shareholders earned during the same
period of the prior fiscal year. The decrease was
attributable primarily to an increase in noninterest expense, a
decrease in net interest income, and an increase in provision for
loan losses, partially offset by an increase in noninterest income
and a decrease in provision for income taxes. Preliminary net
income available to common shareholders was $2.14 per fully diluted
common share for the first nine months of fiscal 2013, a decrease
of 19.9% as compared to the $2.67 per fully diluted common share
earned during the same period of the prior fiscal year. The
decrease was primarily attributable to the increase in average
fully-diluted shares outstanding, from 2.7 million in the first
nine months of fiscal 2012, to 3.3 million in the first nine months
of fiscal 2013. The increase was the result of the November
2011 public offering of common shares. Before the effective
dividend on preferred shares of $295,000, preliminary net income
for the first nine months of fiscal 2013 was $7.5 million, a
decrease of $164,000, or 2.1%, as compared to the same period of
the prior fiscal year.
Dividend Declared:
The Company is pleased to announce that the Board of Directors,
on April 16, 2013, declared its 76th consecutive quarterly dividend
on common stock since the inception of the Company. The cash
dividend of $.15 per common share will be paid on May 31, 2013, to
common stockholders of record at the close of business on May
15, 2013. 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.
Branch Facility Closing:
Management also announced that, after much deliberation, the
Company is working to close its facility located in Leachville,
Arkansas, effective May 10, 2013. "While we respect and value
our customers in the Leachville community, we simply were not able
to generate the return that we need to provide our shareholders
from our continuing investment there," stated Greg Steffens,
President and CEO. The Company came to operate the Leachville
facility via acquisition in 2009. Loan and deposit customers
will continue to be served by one of three nearby facilities, and
may also take advantage of internet and mobile banking
services.
Conference Call:
The Company will host a conference call to review the
information provided in this press release on Wednesday, April 24,
2013, at 3:30 p.m., CDT (4:30 p.m., EDT). The call will be
available live to interested parties by calling 1-888-317-6016 in
the United States (Canada: 1-855-669-9657, international:
1-412-317-6016). Following the call, telephone playback will
be available one hour following the conclusion of the call, until
8:00 a.m., CDT, on May 9, 2013. The playback may be accessed
by dialing 1-877-344-7529 (international: 1-412-317-0088), and
using the conference passcode 10028186.
Balance Sheet Summary:
The Company experienced balance sheet growth in the first nine
months of fiscal 2013, with total assets increasing $54.3 million,
or 7.3%, to $793.5 million at March 31, 2013, as compared to $739.2
million at June 30, 2012. Balance sheet growth was primarily
due to growth in loan balances, increases in cash equivalent and
time deposit balances, investments in fixed assets, and increases
in available-for-sale securities. Balance sheet growth was
funded by increases in deposits and retention of net income.
Available-for-sale investments increased $5.0 million, or 6.6%,
to $80.1 million at March 31, 2013, as compared to $75.1 million at
June 30, 2012. Increases in US government agency and
municipal obligations were partially offset by decreases in
mortgage-backed securities. Cash equivalents and time
deposits were up $7.6 million, or 21.9%, as compared to June 30,
2012, mostly attributable to seasonal loan paydowns.
Loans, net of the allowance for loan losses, increased $33.7
million, or 5.8%, to $617.2 million at March 31, 2013, as compared
to $583.5 million at June 30, 2012. Increases in residential
real estate and commercial real estate were partially offset by
decreases in commercial operating and equipment loans, and
construction loan balances. Approximately two-thirds of the
increase in residential lending was comprised of multifamily loans,
while approximately three-quarters of the decrease in commercial
operating and equipment loans was attributable to paydowns of
agricultural operating lines, most of which is due to seasonal
factors which should be expected to begin to reverse during the
June 30 quarter.
Non-performing loans were $1.8 million, or 0.29% of gross loans,
at March 31, 2013, as compared to $2.4 million, or 0.41% of
gross loans, at June 30, 2012; non-performing assets were $5.5
million, or 0.69% of total assets, at March 31, 2013, as compared
to $4.0 million, or 0.54% of total assets, at June 30, 2012. Our
allowance for loan losses at March 31, 2013, totaled $8.1 million,
representing 1.30% of gross loans and 442% of non-performing loans,
as compared to $7.5 million, or 1.27% of gross loans, and 312% of
non-performing loans, at June 30, 2012. The increase in
non-performing assets was due primarily to a single relationship
which accounted for $2.1 million in foreclosed real estate balances
at March 31, 2013; the majority of the foreclosed property value is
commercial real estate. (The loan relationship had migrated
from classified to non-accrual status during the quarter ended
September 30, 2012, and to foreclosed real estate during the
quarter ended December 31, 2012.) 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, 2013, is
adequate, based on that measurement.
Total liabilities increased $48.3 million to $692.8 million at
March 31, 2013, an increase of 7.5% as compared to $644.5 million
at June 30, 2012. This growth was primarily the result of an
increase in deposit accounts and securities sold under agreements
to repurchase.
Deposits increased $46.1 million, or 7.9%, to $630.9 million at
March 31, 2013, as compared to $584.8 million at June 30,
2012. Increased balances were noted in certificates of
deposit, interest-bearing checking, and money market deposit
accounts, and were partially offset by decreases in savings and
noninterest-bearing checking accounts. The average
loan-to-deposit ratio for the third quarter of fiscal 2013 was
100.4%, as compared to 89.9% for the same period of the prior
fiscal year.
FHLB advances were $24.5 million at March 31, 2013, unchanged in
comparison to June 30, 2012; however, overnight FHLB advances were
utilized during the first nine months of fiscal 2013 (the average
amount of overnight borrowings was $7.7 million). Securities
sold under agreements to repurchase totaled $27.4 million at March
31, 2013, as compared to $25.6 million at June 30, 2012, an
increase of 6.9%. At both dates, the full balance of
repurchase agreements was due to local small business and
government counterparties.
The Company's stockholders' equity increased $5.9 million, or
6.3%, to $100.7 million at March 31, 2013, from $94.7 million at
June 30, 2012. The increase was due primarily to retention of
net income, partially offset by cash dividends paid on common and
preferred stock.
Income Statement Summary:
The Company's net interest income for the three-month period
ended March 31, 2013, was $6.9 million, a decrease of $417,000, or
5.7%, as compared to the same period of the prior fiscal
year. For the nine-month period ended March 31, 2013, net
interest income was $21.6 million, a decrease of $466,000, or 2.1%,
as compared to the same period of the prior fiscal year. For
the three-month period, the decrease, as compared to the prior
fiscal year, was attributable to a decrease in net interest margin,
from 3.97% to 3.77%, combined with a 0.8% decline in the average
balance of interest-earning assets. For the nine-month
period, the decrease, as compared to the prior fiscal year, was
attributable to a decline in the net interest margin, from 4.16% to
4.08%, while the average balance of interest-earning assets was
roughly unchanged. In December 2010, the Company acquired
from the FDIC, as receiver, most of the assets and substantially
all of the liabilities of the former First Southern Bank (the
Acquisition). Accretion of fair value discount on loans and
amortization of fair value premiums on time deposits related to the
Acquisition declined from $1.2 million in the third quarter of
fiscal 2012 to $222,000 in the third quarter of fiscal 2013.
The change in this component reduced net interest income by $1.0
million and net interest margin by 55 basis points for the current
quarter as compared to the year ago period. Accretion of fair
value discount on loans and amortization of fair value premiums on
time deposits related to the Acquisition declined from $3.4 million
in the first nine months of fiscal 2012 to $1.1 million in the
first nine months of fiscal 2013. The change in this
component reduced net interest income by $2.3 million and net
interest margin by 43 basis points for the current fiscal year to
date as compared to the year ago period. The Company expects
the impact of the fair value discount accretion to continue to
decline, over time, as the assets acquired at a discount continue
to mature or prepay.
The provision for loan losses for the three- and nine-month
periods ended March 31, 2013, was $228,000 and $1.3 million,
respectively, as compared to $215,000 and $1.1 million,
respectively, in the same periods of the prior fiscal year.
As a percentage of average loans outstanding, provision for loan
losses in the current three-and nine-month periods represented
annualized charges of 0.15% and 0.28%, respectively, as compared to
0.16% and 0.26%, respectively, for the same periods of the prior
fiscal year. Relatively stable provisioning for the three-
and nine-month periods ended March 31, 2013, as compared to the
same periods of the prior fiscal year, was attributed primarily to
a relatively stable and low level of net charge offs and
nonperforming and classified credits, partially offset by an
increase in loan balances. Net charge offs for the nine-month
period ended March 31, 2013, were 0.15% of average loans, as
compared to 0.06% for the same period of the prior fiscal year.
The Company's noninterest income for the three- and nine-month
periods ended March 31, 2013, was $1.1 million and $3.3 million,
respectively, increases of $189,000, or 19.8%, and $352,000, or
11.8%, respectively, as compared to the same periods of the prior
fiscal year. The increase was attributed primarily to
increased deposit account charges and fees (resulting from
transaction account growth and increased NSF activity), increases
in the cash value of bank-owned life insurance (resulting from an
additional investment in such policies in March 2012), higher bank
card network interchange revenues (resulting from additional bank
card transaction volume), and increased loan origination and other
fees. The nine-month period comparison was less favorable as
a result of inclusion in the prior period's result of the benefit
recognized on settlement of a legal claim obtained in the
Acquisition.
Noninterest expense for the three-month period ended March 31,
2013, was $4.4 million, a decrease of $426,000, or 8.8%, as
compared to the same period of the prior fiscal year. For the
nine-month period ended March 31, 2013, noninterest expense was
$13.0 million, an increase of $486,000, or 3.9%, as compared to the
same period of the prior fiscal year. For the three-month
period, the decrease was primarily attributable to the inclusion in
the prior period's results of $476,000 in FHLB prepayment
penalties, lower costs to provide electronic banking services, and
lower consulting expenses, partially offset by higher compensation
and occupancy expenses, and larger losses on sales of foreclosed
property. For the nine-month period, the increase was the
result of higher compensation and occupancy expenses, expenses
related to foreclosed property, and losses on sales of foreclosed
property, partially offset by the inclusion in the prior period's
results of the $476,000 in FHLB prepayment penalties, and lower
current period expenses for electronic banking services, consulting
services, and advertising. The efficiency ratio for the
three- and nine-month periods ended March 31, 2013, was 55.3% and
52.2%, respectively, as compared to 58.9% and 50.0%,
respectively, for the same periods of the prior fiscal year.
The improvement for the three-month period is due primarily to
inclusion in the prior period's results of the FHLB prepayment
penalty. For the nine-month period, the deterioration
resulted from an increase of 3.9% in expenses, combined with a 0.5%
decrease in revenues. The decline in revenues was primarily
attributable to the reduction in the accretion of fair value
discount on loans and amortization of fair value premiums on time
deposits related to the Acquisition, discussed above.
The income tax provision for the three- and nine-month periods
ended March 31, 2013, was $901,000 and $3.1 million, respectively,
decreases of $105,000, or 10.5%, and $661,000, or 17.5%,
respectively, as compared to the same periods of the prior fiscal
year. The decline for the three-month period was attributed
to a decline in the effective tax rate, to 26.8% in the current
three-month period, as compared to 31.6% in the prior three-month
period, partially offset by an increase in pre-tax income.
The decline for the nine-month period was attributed to a decline
in the effective tax rate, to 29.2% in the current nine-month
period, as compared to 32.8% in the prior nine-month period,
combined with a decrease in pre-tax income. The decreases in
the effective tax rates were attributed to continued investments in
tax-advantaged assets.
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 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; 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 |
|
|
|
|
|
|
|
Summary Balance Sheet Data as
of: |
|
|
|
|
March 31, 2013 |
June 30, 2012 |
|
|
|
|
|
|
|
Cash equivalents and time deposits |
|
|
|
|
$
42,298,000 |
$
34,694,000 |
Available for sale securities |
|
|
|
|
80,093,000 |
75,127,000 |
Membership stock |
|
|
|
|
3,023,000 |
3,019,000 |
Loans receivable, gross |
|
|
|
|
625,316,000 |
590,957,000 |
Allowance for loan losses |
|
|
|
|
8,109,000 |
7,492,000 |
Loans receivable, net |
|
|
|
|
617,207,000 |
583,465,000 |
Bank-owned life insurance |
|
|
|
|
16,338,000 |
15,957,000 |
Intangible assets |
|
|
|
|
1,145,000 |
1,458,000 |
Premises and equipment |
|
|
|
|
16,378,000 |
11,347,000 |
Other assets |
|
|
|
|
16,970,000 |
14,122,000 |
Total assets |
|
|
|
|
$
793,452,000 |
$
739,189,000 |
|
|
|
|
|
|
|
Interest-bearing deposits |
|
|
|
|
$
577,073,000 |
$
530,001,000 |
Noninterest-bearing deposits |
|
|
|
|
53,824,000 |
54,813,000 |
Securities sold under agreements to
repurchase |
|
|
|
|
27,400,000 |
25,642,000 |
FHLB advances |
|
|
|
|
24,500,000 |
24,500,000 |
Other liabilities |
|
|
|
|
2,784,000 |
2,288,000 |
Subordinated debt |
|
|
|
|
7,217,000 |
7,217,000 |
Total liabilities |
|
|
|
|
692,798,000 |
644,461,000 |
|
|
|
|
|
|
|
Preferred stock |
|
|
|
|
20,000,000 |
20,000,000 |
Common stockholders' equity |
|
|
|
|
80,654,000 |
74,728,000 |
Total stockholders' equity |
|
|
|
|
100,654,000 |
94,728,000 |
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity |
|
|
|
|
$
793,452,000 |
$
739,189,000 |
|
|
|
|
|
|
|
Equity to assets ratio |
|
|
|
|
12.69% |
12.82% |
Common shares outstanding |
|
|
|
|
3,254,000 |
3,248,000 |
Book value per common share |
|
|
|
|
$
24.79 |
$
23.01 |
Closing market price |
|
|
|
|
26.25 |
21.50 |
|
|
|
|
|
|
|
Nonperforming asset data as
of: |
|
|
|
|
March 31, 2013 |
June 30, 2012 |
|
|
|
|
|
|
|
Nonaccrual loans |
|
|
|
|
$
1,820,000 |
$
2,398,000 |
Accruing loans 90 days or more past due |
|
|
|
|
16,000 |
- |
Nonperforming troubled debt restructurings
(1) |
|
|
|
|
- |
- |
Total nonperforming loans |
|
|
|
|
1,836,000 |
2,398,000 |
Other real estate owned (OREO) |
|
|
|
|
3,454,000 |
1,426,000 |
Personal property repossessed |
|
|
|
|
78,000 |
9,000 |
Nonperforming investment securities |
|
|
|
|
125,000 |
125,000 |
Total nonperforming assets |
|
|
|
|
$
5,493,000 |
$
3,958,000 |
|
|
|
|
|
|
|
Total nonperforming assets to total
assets |
|
|
|
|
0.69% |
0.54% |
Total nonperforming loans to gross loans |
|
|
|
|
0.29% |
0.41% |
Allowance for loan losses to nonperforming
loans |
|
|
|
|
441.67% |
312.43% |
Allowance for loan losses to gross loans |
|
|
|
|
1.30% |
1.27% |
|
|
|
|
|
|
|
Performing troubled debt restructurings |
|
|
|
|
$
3,450,000 |
$
3,138,000 |
|
|
|
|
|
|
|
(1) reported here only if not otherwise listed as nonperforming
(i.e., nonaccrual or 90+ days past due) |
|
For the
three-month period ended |
For the
nine-month period ended |
Average Balance Sheet
Data: |
March 31, 2013 |
March 31, 2012 |
March 31, 2013 |
March 31, 2012 |
|
|
|
|
|
Interest-bearing cash equivalents |
$
27,179,000 |
$
113,479,000 |
$
15,812,000 |
$
79,520,000 |
Available for sale securities and
membership stock |
83,451,000 |
77,017,000 |
78,655,000 |
71,292,000 |
Loans receivable, gross |
619,751,000 |
545,508,000 |
613,414,000 |
557,133,000 |
Total interest-earning
assets |
730,381,000 |
736,004,000 |
707,881,000 |
707,945,000 |
Other assets |
50,033,000 |
31,010,000 |
48,505,000 |
29,889,000 |
Total assets |
$
780,414,000 |
$
767,014,000 |
$
756,386,000 |
$
737,834,000 |
|
|
|
|
|
Interest-bearing deposits |
$
564,784,000 |
$
563,138,000 |
$
537,816,000 |
$
548,603,000 |
Securities sold under agreements
to repurchase |
30,471,000 |
29,178,000 |
27,299,000 |
27,351,000 |
FHLB advances |
24,500,000 |
30,995,000 |
32,182,000 |
32,665,000 |
Subordinated debt |
7,217,000 |
7,217,000 |
7,217,000 |
7,217,000 |
Total interest-bearing
liabilities |
626,972,000 |
630,528,000 |
604,514,000 |
615,836,000 |
Noninterest-bearing deposits |
52,734,000 |
43,417,000 |
53,456,000 |
40,589,000 |
Other noninterest-bearing
liabilities |
936,000 |
1,137,000 |
552,000 |
2,516,000 |
Total liabilities |
680,642,000 |
675,082,000 |
658,522,000 |
658,941,000 |
|
|
|
|
|
Preferred stock |
20,000,000 |
20,000,000 |
20,000,000 |
19,121,000 |
Common stockholders' equity |
79,772,000 |
71,932,000 |
77,864,000 |
59,772,000 |
Total stockholders' equity |
99,772,000 |
91,932,000 |
97,864,000 |
78,893,000 |
|
|
|
|
|
Total liabilities and
stockholders'
equity |
$
780,414,000 |
$
767,014,000 |
$
756,386,000 |
$
737,834,000 |
|
For the
three-month period ended |
For the
nine-month period ended |
Summary Income Statement
Data: |
March 31, 2013 |
March 31, 2012 |
March 31, 2013 |
March 31, 2012 |
|
|
|
|
|
Interest income: |
|
|
|
|
Cash equivalents |
$
17,000 |
$
73,000 |
$
48,000 |
$
154,000 |
Available for sale securities
and membership
stock |
463,000 |
604,000 |
1,408,000 |
1,868,000 |
Loans receivable |
8,276,000 |
9,078,000 |
25,860,000 |
27,890,000 |
Total interest
income |
8,756,000 |
9,755,000 |
27,316,000 |
29,912,000 |
Interest expense: |
|
|
|
|
Deposits |
1,510,000 |
2,011,000 |
4,587,000 |
6,457,000 |
Securities sold under agreements
to repurchase |
58,000 |
65,000 |
160,000 |
184,000 |
FHLB advances |
241,000 |
310,000 |
755,000 |
989,000 |
Subordinated debt |
55,000 |
60,000 |
172,000 |
173,000 |
Total interest
expense |
1,864,000 |
2,446,000 |
5,674,000 |
7,803,000 |
Net interest income |
6,892,000 |
7,309,000 |
21,642,000 |
22,109,000 |
Provision for loan losses |
228,000 |
215,000 |
1,301,000 |
1,078,000 |
Noninterest income |
1,144,000 |
954,000 |
3,322,000 |
2,970,000 |
Noninterest expense |
4,441,000 |
4,866,000 |
13,019,000 |
12,533,000 |
Income taxes |
901,000 |
1,006,000 |
3,107,000 |
3,767,000 |
Net income |
2,466,000 |
2,176,000 |
7,537,000 |
7,701,000 |
Less: effective dividend on
preferred
shares |
50,000 |
50,000 |
295,000 |
402,000 |
Net income
available to
common shareholders |
$
2,416,000 |
$
2,126,000 |
$
7,242,000 |
$
7,299,000 |
|
|
|
|
|
Basic earnings per common share |
$
0.74 |
$
0.65 |
$
2.23 |
$
2.76 |
Diluted earnings per common
share |
0.71 |
0.64 |
2.14 |
2.67 |
Dividends per common share |
0.15 |
0.12 |
0.45 |
0.36 |
Average common shares
outstanding: |
|
|
|
|
Basic |
3,254,000 |
3,247,000 |
3,250,000 |
2,646,000 |
Diluted |
3,389,000 |
3,341,000 |
3,383,000 |
2,735,000 |
|
|
|
|
|
Return on average assets |
1.26% |
1.13% |
1.33% |
1.39% |
Return on average common
shareholders' equity |
12.1% |
11.8% |
12.4% |
16.3% |
|
|
|
|
|
Net interest margin |
3.77% |
3.97% |
4.08% |
4.16% |
Net interest spread |
3.61% |
3.75% |
3.90% |
3.94% |
|
|
|
|
|
Efficiency ratio |
55.3% |
58.9% |
52.2% |
50.0% |
CONTACT: Matt Funke, CFO 573-778-1809
Greg Steffens, President/CEO 573-778-1801
Southern Missouri Bancorp (NASDAQ:SMBC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Southern Missouri Bancorp (NASDAQ:SMBC)
Historical Stock Chart
From Oct 2023 to Oct 2024