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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Southern Missouri Bancorp Inc | NASDAQ:SMBC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.84 | 1.53% | 55.92 | 55.76 | 56.08 | 56.36 | 55.08 | 55.17 | 8,832 | 19:19:57 |
SOUTHERN MISSOURI BANCORP, INC.
|
||||
(Exact name of Registrant as specified in its Charter)
|
||||
Missouri
|
000-23406
|
43-1665523
|
||
(State or other jurisdiction
of incorporation)
|
(Commission File No.)
|
(IRS Employer
Identification Number)
|
531 Vine Street, Poplar Bluff, Missouri | 63901 | |||
(Address of principal executive offices) | (Zip Code) |
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 1 4d-2(b) under the Exchange Act (17 CFR 240.1 4d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR 240.1 3e-4(c))
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|
99.1
|
Press release dated July 27, 2015
|
SOUTHERN MISSOURI BANCORP, INC.
|
|
Date: July 27, 2015
|
By: /s/ Greg A. Steffens
Greg A. Steffens
President and Chief Executive Officer
|
99.1
|
Press Release dated July 27, 2015
|
FOR IMMEDIATE RELEASE
|
Contact: Matt Funke, CFO
|
July 27, 2015
|
(573) 778-1800
|
·
|
Preliminary fiscal year 2015 fourth quarter earnings per common share (diluted) were reported at $.47, up from $.39 (split-adjusted) in the year ago period, as net income available to common shareholders increased to $3.5 million, as compared to $2.7 million in the year ago period. Earnings per common share (diluted) were up $.03 from the third quarter of fiscal 2015, the linked quarter. For fiscal 2015, earnings per common share (diluted) were reported at $1.79, up from $1.45 (split-adjusted) for fiscal 2014.
|
·
|
For the fourth quarter of fiscal 2015, annualized return on average assets was 1.11%, while annualized return on average common equity was 12.5%, as compared to 1.11% and 12.1%, respectively, in the year ago period. In the third quarter of fiscal 2015, the linked quarter, annualized return on average assets was 1.04%, and annualized return on average common equity was 11.9%. For fiscal 2015, return on average assets was 1.07% and return on average common equity was 12.5%, as compared to 1.09% and 11.5%, respectively, for fiscal 2014.
|
·
|
Gross loan totals increased $255.1 million, or 31.5%, for fiscal 2015. 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 $269.4 million, or 34.3%, with the Peoples acquisition accounting for $222.2 million of the increase.
|
·
|
Net interest margin for the fourth quarter of fiscal 2015 was 3.85%, up from the 3.79% reported for the year ago period, and down from the net interest margin of 3.89% for the third quarter of fiscal 2015, the linked quarter. For fiscal 2015, net interest margin was 3.92%, as compared to 3.81% in fiscal 2014.
|
·
|
Excluding gains on sales of securities, noninterest income was up 39.7% for the fourth quarter of fiscal 2015, compared to the year ago period, and up 14.7% from the third quarter of fiscal 2015, the linked quarter. For fiscal 2015, noninterest income, excluding gains on sales of securities, was up 43.8%.
|
·
|
Noninterest expense was up 28.3% for the fourth quarter of fiscal 2015, compared to the year ago period, and down 1.1% from the third quarter of fiscal 2015, the linked quarter. While recent periods included significant noninterest expense related to merger and acquisition activity, the current quarter included none. For fiscal 2015, noninterest expense was up 36.5%
|
·
|
Non-performing assets were $8.3 million, or 0.64% of total assets, at June 30, 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.
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Southern Missouri Bancorp, Inc.
|
||||||||
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION
|
||||||||
dollars in thousands, except per share data
|
||||||||
Summary Balance Sheet Data as of:
|
June 30, 2015
|
June 30, 2014
|
||||||
|
||||||||
Cash equivalents and time deposits
|
$
|
18,719
|
$
|
16,587
|
||||
Available for sale securities
|
129,593
|
130,222
|
||||||
FHLB/FRB membership stock
|
6,467
|
5,993
|
||||||
Loans receivable, gross
|
1,065,443
|
810,315
|
||||||
Allowance for loan losses
|
12,297
|
9,259
|
||||||
Loans receivable, net
|
1,053,146
|
801,056
|
||||||
Bank-owned life insurance
|
19,692
|
19,123
|
||||||
Intangible assets
|
8,757
|
3,936
|
||||||
Premises and equipment
|
39,726
|
22,466
|
||||||
Other assets
|
23,964
|
22,039
|
||||||
Total assets
|
$
|
1,300,064
|
$
|
1,021,422
|
||||
|
||||||||
Interest-bearing deposits
|
$
|
937,771
|
$
|
717,688
|
||||
Noninterest-bearing deposits
|
117,471
|
68,113
|
||||||
Securities sold under agreements to repurchase
|
27,332
|
25,561
|
||||||
FHLB advances
|
64,794
|
85,472
|
||||||
Other liabilities
|
5,395
|
3,750
|
||||||
Subordinated debt
|
14,658
|
9,727
|
||||||
Total liabilities
|
1,167,421
|
910,311
|
||||||
|
||||||||
Preferred stock
|
20,000
|
20,000
|
||||||
Common stockholders' equity
|
112,643
|
91,111
|
||||||
Total stockholders' equity
|
132,643
|
111,111
|
||||||
|
||||||||
Total liabilities and stockholders' equity
|
$
|
1,300,064
|
$
|
1,021,422
|
||||
|
||||||||
Equity to assets ratio
|
10.20
|
%
|
10.88
|
%
|
||||
Common shares outstanding
|
7,419,666
|
6,680,880
|
||||||
Less: Restricted common shares not vested
|
55,600
|
72,000
|
||||||
Common shares for book value determination
|
7,364,066
|
6,608,880
|
||||||
Book value per common share
|
$
|
15.30
|
$
|
13.79
|
||||
Closing market price
|
18.85
|
17.85
|
||||||
|
||||||||
|
dollars in thousands, except per share data
|
|||||||
Nonperforming asset data as of:
|
June 30, 2015
|
June 30, 2014
|
||||||
|
||||||||
Nonaccrual loans
|
$
|
3,758
|
$
|
1,266
|
||||
Accruing loans 90 days or more past due
|
45
|
130
|
||||||
Nonperforming troubled debt restructurings (1)
|
-
|
-
|
||||||
Total nonperforming loans
|
3,803
|
1,396
|
||||||
Other real estate owned (OREO)
|
4,440
|
2,912
|
||||||
Personal property repossessed
|
64
|
65
|
||||||
Nonperforming investment securities
|
-
|
-
|
||||||
Total nonperforming assets
|
$
|
8,307
|
$
|
4,373
|
||||
|
||||||||
Total nonperforming assets to total assets
|
0.64
|
%
|
0.43
|
%
|
||||
Total nonperforming loans to gross loans
|
0.36
|
%
|
0.17
|
%
|
||||
Allowance for loan losses to nonperforming loans
|
323.35
|
%
|
663.25
|
%
|
||||
Allowance for loan losses to gross loans
|
1.15
|
%
|
1.14
|
%
|
||||
|
||||||||
Performing troubled debt restructurings
|
$
|
6,548
|
$
|
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 twelve-month period ended
|
|||||||||||||||
Average Balance Sheet Data:
|
June 30, 2015
|
June 30, 2014
|
June 30, 2015
|
June 30, 2014
|
||||||||||||
|
||||||||||||||||
Interest-bearing cash equivalents
|
$
|
12,398
|
$
|
8,090
|
$
|
19,103
|
$
|
7,950
|
||||||||
Available for sale securities and membership stock
|
136,063
|
137,426
|
148,793
|
121,012
|
||||||||||||
Loans receivable, gross
|
1,050,087
|
787,168
|
1,017,835
|
737,321
|
||||||||||||
Total interest-earning assets
|
1,198,548
|
932,684
|
1,185,731
|
866,283
|
||||||||||||
Other assets
|
91,493
|
64,828
|
88,001
|
57,362
|
||||||||||||
Total assets
|
$
|
1,290,041
|
$
|
997,512
|
$
|
1,273,732
|
$
|
923,645
|
||||||||
|
||||||||||||||||
Interest-bearing deposits
|
$
|
933,444
|
$
|
721,753
|
$
|
907,631
|
$
|
665,750
|
||||||||
Securities sold under agreements to repurchase
|
27,442
|
26,150
|
25,443
|
24,492
|
||||||||||||
FHLB advances
|
56,377
|
60,452
|
80,415
|
58,926
|
||||||||||||
Subordinated debt
|
14,647
|
9,723
|
14,112
|
9,011
|
||||||||||||
Total interest-bearing liabilities
|
1,031,910
|
818,078
|
1,027,601
|
758,179
|
||||||||||||
Noninterest-bearing deposits
|
124,436
|
69,195
|
117,157
|
58,806
|
||||||||||||
Other noninterest-bearing liabilities
|
802
|
880
|
1,074
|
1,074
|
||||||||||||
Total liabilities
|
1,157,148
|
888,153
|
1,145,832
|
818,059
|
||||||||||||
|
||||||||||||||||
Preferred stock
|
20,000
|
20,000
|
20,000
|
20,000
|
||||||||||||
Common stockholders' equity
|
112,893
|
89,359
|
107,900
|
85,586
|
||||||||||||
Total stockholders' equity
|
132,893
|
109,359
|
127,900
|
105,586
|
||||||||||||
|
||||||||||||||||
Total liabilities and stockholders' equity
|
$
|
1,290,041
|
$
|
997,512
|
$
|
1,273,732
|
$
|
923,645
|
||||||||
|
||||||||||||||||
dollars in thousands, except per share data
|
||||||||||||||||
|
For the three-month period ended
|
For the twelve-month period ended
|
||||||||||||||
Summary Income Statement Data:
|
June 30, 2015
|
June 30, 2014
|
June 30, 2015
|
June 30, 2014
|
||||||||||||
|
||||||||||||||||
Interest income:
|
||||||||||||||||
Cash equivalents
|
$
|
18
|
$
|
6
|
$
|
116
|
$
|
25
|
||||||||
Available for sale securities and membership stock
|
843
|
868
|
3,670
|
2,894
|
||||||||||||
Loans receivable
|
12,955
|
9,878
|
51,515
|
37,552
|
||||||||||||
Total interest income
|
13,816
|
10,752
|
55,301
|
40,471
|
||||||||||||
Interest expense:
|
||||||||||||||||
Deposits
|
1,800
|
1,516
|
6,859
|
5,963
|
||||||||||||
Securities sold under agreements to repurchase
|
32
|
35
|
117
|
132
|
||||||||||||
FHLB advances
|
304
|
272
|
1,278
|
1,085
|
||||||||||||
Subordinated debt
|
134
|
81
|
512
|
305
|
||||||||||||
Total interest expense
|
2,270
|
1,904
|
8,766
|
7,485
|
||||||||||||
Net interest income
|
11,546
|
8,848
|
46,535
|
32,986
|
||||||||||||
Provision for loan losses
|
659
|
598
|
3,185
|
1,646
|
||||||||||||
Securities gains
|
-
|
8
|
6
|
116
|
||||||||||||
Other noninterest income
|
2,398
|
1,716
|
8,653
|
6,016
|
||||||||||||
Noninterest expense
|
8,002
|
6,235
|
32,285
|
23,646
|
||||||||||||
Income taxes
|
1,718
|
983
|
6,056
|
3,745
|
||||||||||||
Net income
|
3,565
|
2,756
|
13,668
|
10,081
|
||||||||||||
Less: effective dividend on preferred shares
|
50
|
50
|
200
|
200
|
||||||||||||
Net income available to common shareholders
|
$
|
3,515
|
$
|
2,706
|
$
|
13,468
|
$
|
9,881
|
||||||||
|
||||||||||||||||
Basic earnings per common share (2)
|
$
|
0.47
|
$
|
0.41
|
$
|
1.84
|
$
|
1.49
|
||||||||
Diluted earnings per common share (2)
|
0.47
|
0.39
|
1.79
|
1.45
|
||||||||||||
Dividends per common share (2)
|
0.085
|
0.080
|
0.340
|
0.320
|
||||||||||||
Average common shares outstanding (2):
|
||||||||||||||||
Basic
|
7,418,000
|
6,658,000
|
7,337,000
|
6,616,000
|
||||||||||||
Diluted
|
7,524,000
|
6,857,000
|
7,505,000
|
6,800,000
|
||||||||||||
|
||||||||||||||||
Return on average assets
|
1.11
|
%
|
1.11
|
%
|
1.07
|
%
|
1.09
|
%
|
||||||||
Return on average common shareholders' equity
|
12.5
|
%
|
12.1
|
%
|
12.5
|
%
|
11.5
|
%
|
||||||||
|
||||||||||||||||
Net interest margin
|
3.85
|
%
|
3.79
|
%
|
3.92
|
%
|
3.81
|
%
|
||||||||
Net interest spread
|
3.73
|
%
|
3.68
|
%
|
3.81
|
%
|
3.68
|
%
|
||||||||
|
||||||||||||||||
Efficiency ratio
|
57.4
|
%
|
59.0
|
%
|
58.5
|
%
|
60.6
|
%
|
(2) adjusted to reflect the 2-for-1 stock split in the form of a 100% stock dividend paid January 30, 2015
|
1 Year Southern Missouri Bancorp Chart |
1 Month Southern Missouri Bancorp Chart |
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