Latest news with #SouthernMissouriBancorp
Yahoo
28-07-2025
- Business
- Yahoo
Southern Missouri Bancorp Inc (SMBC) Q4 2025 Earnings Call Highlights: Strong Earnings Growth ...
Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Southern Missouri Bancorp Inc (NASDAQ:SMBC) reported a year-over-year earnings growth of 17%, with earnings per share increasing from $4.42 in fiscal '24 to $5.18 in fiscal '25. The company saw a tangible book value per share increase by 14% over the last 12 months, reaching $41.87. Net interest margin improved to 3.46% from 3.39% in the previous quarter, driven by loan yield expansion and lower funding costs. Gross loan balances increased by 7.6% annualized during the quarter, indicating strong loan growth. Southern Missouri Bancorp Inc (NASDAQ:SMBC) announced an 8.7% increase in quarterly dividends, bringing it to $0.25 per share, reflecting confidence in their financial position. Negative Points Credit quality has deteriorated somewhat, with non-performing loans increasing by $1.1 million compared to the last quarter. Provision for credit losses rose to $2.5 million, up from $932,000 in the previous quarter, indicating increased credit risk. The agricultural segment is facing challenges with rising input costs and lower commodity prices, impacting farmer profitability. There is an expectation of higher prepayment activity in the near term, which could slow net loan growth. The company experienced a $3.8 million charge-off related to a special purpose CRE loan, highlighting ongoing credit challenges. Q & A Highlights Warning! GuruFocus has detected 2 Warning Sign with SMBC. Q: Can you provide more details on the loan growth throughout the quarter and any expectations for prepayments in the near term? A: Our loan growth was steady over the entire quarter, with loans in the pipeline consistently added. Regarding prepayments, we have not seen them yet, but several larger credits have indicated plans to pay off soon, primarily in our non-owner occupied commercial real estate sector. Q: What are your expectations for the net interest margin, especially if there are Fed rate cuts? A: We are currently more neutral to rate movements due to higher levels of excess cash. As this cash is deployed through loan growth, we may become more liability sensitive. We expect natural expansion from loan origination activity and renewals repricing at higher rates than our current portfolio. Q: How is the competitive environment for deposits, and what are your strategies regarding CDs? A: The deposit competition has been more reasonable over the last 6 to 9 months, although there was a slight pickup in July. We don't expect growth to be as heavily weighted towards CDs this year, given our strong funding position. We aim to be less aggressive on the CD side, which might slow growth relative to non-maturity deposits. Q: Can you elaborate on the credit charge-offs and any potential future appraisals? A: We wrote down the balance on one loan after an appraisal came in lower than expected. This was due to a special purpose entity operating it with above-market lease rates. We might see additional charge-offs on other remaining buildings, and we have 42% of the balance in specific reserve. Q: Are you seeing an increase in M&A discussions, and how do you view stock buybacks in the current environment? A: There are more calls from investment bankers, but we haven't seen a significant increase in actionable items. Regarding stock buybacks, it depends on our trading relative to tangible book value. We believe a potential M&A transaction could have a shorter earn-back period than repurchasing shares. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-07-2025
- Business
- Yahoo
Southern Missouri Bancorp Inc (SMBC) Q4 2025 Earnings Call Highlights: Strong Earnings Growth ...
Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Southern Missouri Bancorp Inc (NASDAQ:SMBC) reported a year-over-year earnings growth of 17%, with earnings per share increasing from $4.42 in fiscal '24 to $5.18 in fiscal '25. The company saw a tangible book value per share increase by 14% over the last 12 months, reaching $41.87. Net interest margin improved to 3.46% from 3.39% in the previous quarter, driven by loan yield expansion and lower funding costs. Gross loan balances increased by 7.6% annualized during the quarter, indicating strong loan growth. Southern Missouri Bancorp Inc (NASDAQ:SMBC) announced an 8.7% increase in quarterly dividends, bringing it to $0.25 per share, reflecting confidence in their financial position. Negative Points Credit quality has deteriorated somewhat, with non-performing loans increasing by $1.1 million compared to the last quarter. Provision for credit losses rose to $2.5 million, up from $932,000 in the previous quarter, indicating increased credit risk. The agricultural segment is facing challenges with rising input costs and lower commodity prices, impacting farmer profitability. There is an expectation of higher prepayment activity in the near term, which could slow net loan growth. The company experienced a $3.8 million charge-off related to a special purpose CRE loan, highlighting ongoing credit challenges. Q & A Highlights Warning! GuruFocus has detected 2 Warning Sign with SMBC. Q: Can you provide more details on the loan growth throughout the quarter and any expectations for prepayments in the near term? A: Our loan growth was steady over the entire quarter, with loans in the pipeline consistently added. Regarding prepayments, we have not seen them yet, but several larger credits have indicated plans to pay off soon, primarily in our non-owner occupied commercial real estate sector. Q: What are your expectations for the net interest margin, especially if there are Fed rate cuts? A: We are currently more neutral to rate movements due to higher levels of excess cash. As this cash is deployed through loan growth, we may become more liability sensitive. We expect natural expansion from loan origination activity and renewals repricing at higher rates than our current portfolio. Q: How is the competitive environment for deposits, and what are your strategies regarding CDs? A: The deposit competition has been more reasonable over the last 6 to 9 months, although there was a slight pickup in July. We don't expect growth to be as heavily weighted towards CDs this year, given our strong funding position. We aim to be less aggressive on the CD side, which might slow growth relative to non-maturity deposits. Q: Can you elaborate on the credit charge-offs and any potential future appraisals? A: We wrote down the balance on one loan after an appraisal came in lower than expected. This was due to a special purpose entity operating it with above-market lease rates. We might see additional charge-offs on other remaining buildings, and we have 42% of the balance in specific reserve. Q: Are you seeing an increase in M&A discussions, and how do you view stock buybacks in the current environment? A: There are more calls from investment bankers, but we haven't seen a significant increase in actionable items. Regarding stock buybacks, it depends on our trading relative to tangible book value. We believe a potential M&A transaction could have a shorter earn-back period than repurchasing shares. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Upturn
24-07-2025
- Business
- Business Upturn
SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FOURTH QUARTER OF FISCAL 2025; DECLARES QUARTERLY DIVIDEND OF $0.25 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, JULY 24, AT 9:30 AM CENTRAL TIME
By GlobeNewswire Published on July 24, 2025, 01:30 IST Poplar Bluff, Missouri, July 23, 2025 (GLOBE NEWSWIRE) — Southern Missouri Bancorp, Inc. ('Company') (NASDAQ: SMBC), the parent corporation of Southern Bank ('Bank'), today announced preliminary net income for the fourth quarter of fiscal 2025 of $15.8 million, an increase of $2.3 million or 16.7%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to higher net interest income and lower provision for income taxes. This was partially offset by higher provision for credit loss (PCL), noninterest expense, and lower noninterest income. Preliminary net income was $1.39 per fully diluted common share for the fourth quarter of fiscal 2025, an increase of $0.20 as compared to the $1.19 per fully diluted common share reported for the same period of the prior fiscal year. For the full fiscal year 2025, preliminary net income of $58.6 million was an increase of $8.4 million as compared to fiscal 2024, while diluted earnings per share for fiscal 2025 were $5.18, an increase of $0.76 as compared to the $4.42 per fully diluted common share for fiscal 2024. Highlights for the fourth quarter of fiscal 2025: Earnings per common share (diluted) were $1.39, up $0.20, or 16.8%, as compared to the same quarter a year ago, and remained unchanged from the third quarter of fiscal 2025, the linked quarter. Annualized return on average assets (ROA) was 1.27%, while annualized return on average common equity (ROE) was 11.8%, as compared to 1.17% and 11.2%, respectively, in the same quarter a year ago, and 1.27% and 12.1%, respectively, in the third quarter of fiscal 2025, the linked quarter. Net interest margin for the quarter was 3.46%, up from the 3.25% reported for the year ago period, and up from 3.39% reported for the third quarter of fiscal 2025, the linked quarter. Net interest income increased $5.2 million, or 14.9% as compared to the same quarter a year ago, and increased $854,000, or 2.2% as compared to the third quarter of fiscal 2025, the linked quarter. Noninterest income was down 6.3% for the quarter, as compared to the year ago period, but up 9.2% as compared to the third quarter of fiscal 2025, the linked quarter. The decrease compared to the year ago period was primarily due to tax credit benefits recorded in the prior fiscal year as noninterest income, but recognized in the current period as a direct reduction from the provision for income taxes under the proportional amortization method of ASU 2023-02. In addition, the Company realized a modest negative adjustment to the value of mortgage servicing rights. The increase in non-interest income compared to the linked quarter was largely due to additional card network fees based on volume incentives totaling $537,000. Gross loan balances increased by $76.2 million during the fourth quarter, and increased by $249.9 million, or 6.5% during all of fiscal 2025. PCL was $2.5 million during the fourth quarter of fiscal 2025, a $1.6 million increase from both the year ago period and the third quarter of fiscal 2025, the linked quarter. The increase was primarily driven by higher net charge-offs, largely stemming from a previously identified non-performing special-purpose commercial real estate credit relationship disclosed in the prior quarter and to support loan growth. See 'Balance Sheet Summary' below for more detailed information regarding this credit relationship. Deposit balances increased by $19.9 million during the fourth quarter, and increased by $338.3 million, or 8.6% during all of fiscal 2025. Cash equivalents and time deposits balances decreased by $34.0 million during the fourth quarter, and increased $131.7 million during all of fiscal 2025, which was driven by deposit growth and earnings retention after cash dividends paid outpacing gross loan and other asset growth. Tangible book value per share was $41.87, having increased by $5.19, or 14.1%, as compared to June 30, 2024. Dividend Declared: The Board of Directors, on July 22, 2025, declared a quarterly cash dividend on common stock of $0.25 per share, payable August 29, 2025, to stockholders of record at the close of business on August 15, 2025, marking the 125th consecutive quarterly dividend since the inception of the Company. The dividend represents an increase of $0.02 per share, or 8.7%, as compared to the previous quarterly dividend payment. 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. Conference Call: The Company will host a conference call to review the information provided in this press release on Thursday, July 24, 2025, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-833-470-1428 in the United States and from all other locations. Participants should use participant access code 617584. Telephone playback will be available beginning one hour following the conclusion of the call through July 29, 2025. The playback may be accessed by dialing 1-866-813-9403, and using the conference passcode 612450. Balance Sheet Summary: The Company experienced balance sheet growth in fiscal 2025, with total assets of $5.0 billion at June 30, 2025, reflecting an increase of $415.3 million, or 9.0%, as compared to June 30, 2024. Growth primarily reflected an increase in net loans receivable, cash equivalents, and available-for-sale (AFS) securities. Cash equivalents and time deposits were $193.1 million at June 30, 2025, an increase of $131.7 million, or 214.5%, as compared to June 30, 2024. Compared to March 31, 2025, the linked quarter, cash equivalents decreased $34.0 million, or 15.0%, primarily utilized to fund loan growth, which was partially offset by deposit growth and earnings retention after cash dividends paid. AFS securities were $460.8 million at June 30, 2025, up $32.9 million, or 7.7%, as compared to June 30, 2024. Loans, net of the allowance for credit losses (ACL), were $4.0 billion at June 30, 2025, an increase of $250.8 million, or 6.6%, as compared to June 30, 2024. Gross loans increased by $249.9 million, while the ACL attributable to outstanding loan balances decreased $887,000, or 1.7%, as compared to June 30, 2024. The increase in loan balances was attributable to growth in residential real estate loans, commercial and industrial loans, drawn construction loan balances, multi-family real estate loans, and agricultural production draws. This was partially offset by payoffs and paydowns in non-owner occupied commercial real estate and consumer loans. The table below illustrates changes in loan balances by type over recent periods: Summary Loan Data as of: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands) 2025 2025 2024 2024 2024 1-4 residential real estate $ 991,553 $ 978,908 $ 967,196 $ 942,916 $ 925,397 Non-owner occupied commercial real estate 888,317 897,125 882,484 903,678 899,770 Owner occupied commercial real estate 442,984 440,282 435,392 438,030 427,476 Multi-family real estate 422,758 405,445 376,081 371,177 384,564 Construction and land development 332,405 323,499 393,388 351,481 290,541 Agriculture real estate 244,983 247,027 239,912 239,787 232,520 Total loans secured by real estate 3,323,000 3,292,286 3,294,453 3,247,069 3,160,268 Commercial and industrial 510,259 488,116 484,799 457,018 450,147 Agriculture production 206,128 186,058 188,284 200,215 175,968 Consumer 55,387 54,022 56,017 58,735 59,671 All other loans 5,102 3,216 3,628 3,699 3,981 Total loans 4,099,876 4,023,698 4,027,181 3,966,736 3,850,035 Deferred loan fees, net (178) (189) (202) (218) (232) Gross loans 4,099,698 4,023,509 4,026,979 3,966,518 3,849,803 Allowance for credit losses (51,629) (54,940) (54,740) (54,437) (52,516) Net loans $ 4,048,069 $ 3,968,569 $ 3,972,239 $ 3,912,081 $ 3,797,287 Loans anticipated to fund in the next 90 days totaled $224.1 million at June 30, 2025, as compared to $163.3 million at March 31, 2025, and $157.1 million at June 30, 2024. The Bank's concentration in non-owner occupied commercial real estate loans is estimated at 301.9% of Tier 1 capital and ACL at June 30, 2025, as compared to 317.5% as of June 30, 2024, with these loans representing 40.1% of total loans at June 30, 2025. Multi-family residential real estate, hospitality (hotels/restaurants), care facilities, strip centers, retail stand-alone, and storage units are the most common collateral types within the non-owner occupied commercial real estate loan portfolio. The multi-family residential real estate loan portfolio commonly includes loans collateralized by properties currently in the low-income housing tax credit (LIHTC) program or that have exited the program. The hospitality and retail stand-alone segments include primarily franchised businesses; care facilities consisting mainly of skilled nursing and assisted living centers; and strip centers, which can be defined as non-mall shopping centers with a variety of tenants. Non-owner occupied office property types included 33 loans totaling $24.3 million, or 0.59% of total loans at June 30, 2025, none of which were adversely classified as of June 30, 2025, and are generally comprised of smaller spaces with diverse tenants. The Company continues to monitor its commercial real estate concentration and the individual segments closely. Nonperforming loans (NPLs) were $23.0 million, or 0.56% of gross loans, at June 30, 2025, as compared to $6.7 million, or 0.17% of gross loans, at June 30, 2024. Nonperforming assets (NPAs) were $23.7 million, or 0.47% of total assets, at June 30, 2025, as compared to $10.6 million, or 0.23% of total assets, at June 30, 2024. The rise in NPAs reflects an increase in NPLs, which was partially offset by a decrease in other real estate owned. Compared to March 31, 2025, the linked quarter, NPAs declined $104,000. The year-over-year increase in NPLs was primarily driven by several commercial relationships added during the third and fourth quarters of fiscal 2025, along with the addition of other smaller loans throughout the year, partially offset by net charge-offs. In the fourth quarter, a $5.7 million construction loan related to the development of a senior living facility was placed on nonaccrual status. As previously disclosed in the third quarter, three commercial loans with common guarantors, which are primarily secured by two non-owner-occupied, special-purpose commercial properties located in different states, were also added to NPLs. These properties, which were previously leased to a single tenant that has since become insolvent, are now vacant. Some guarantors are shared across these three loans. The total balance of these three loans at fiscal year end 2025 was $6.2 million, after recognition of $3.8 million charge-offs in the current quarter that were previously reserved for in the linked quarter. The ACL at June 30, 2025, totaled $51.6 million, representing 1.26% of gross loans and 224% of nonperforming loans, as compared to an ACL of $52.5 million, representing 1.36% of gross loans and 786% of nonperforming loans, at June 30, 2024. The Company has estimated its expected credit losses as of June 30, 2025, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. There remains, however, significant uncertainty as borrowers adjust to relatively high market interest rates, although the Federal Reserve has reduced short-term rates somewhat during this fiscal year. The decrease in the ACL was primarily attributable to net charge-offs, which reduced the required reserves for individually evaluated loans, as well as a decline in certain qualitative adjustments relevant to assessing expected credit losses. This decrease was partially offset by higher required reserves for pooled loans, reflecting management's updated view of a deteriorating economic outlook and an increase in modeled loss drivers compared to the prior assessment as of June 30, 2024. Additional provisions were also recorded to support loan growth and overdraft exposures during fiscal year 2025. As a percentage of average loans outstanding, the Company recorded net charge offs of 0.53% (annualized) during the current quarter, as compared to 0.06% for the same quarter of the prior fiscal year. In the three-month period ended June 30, 2025, net charge offs were $5.3 million, with the increase from prior periods primarily attributable to the $3.8 million special-purpose CRE charge off noted above, and a $742,000 commercial and industrial charge off related to a commercial contractor. For fiscal year 2025, net charge offs as a percentage of average loans were 0.17%, as compared to 0.05% for fiscal year 2024. Total liabilities were $4.5 billion at June 30, 2025, an increase of $359.3 million, or 8.7%, as compared to June 30, 2024. Growth primarily reflected increases in total deposits, other liabilities, accrued interest and income taxes payable, and securities sold under agreement to repurchase. Deposits were $4.3 billion at June 30, 2025, an increase of $338.3 million, or 8.6%, as compared to June 30, 2024. The deposit portfolio saw increases in certificates of deposit and savings accounts, as customers remained willing to move balances into special rate time deposits and high yield savings accounts in the higher rate environment. Public unit balances totaled $550.8 million at June 30, 2025, a decrease of $43.8 million compared to June 30, 2024, mostly due to the Company losing the bid to retain a larger local public unit depositor early in the fiscal year. Brokered deposits totaled $233.6 million at June 30, 2025, an increase of $61.9 million as compared to June 30, 2024. The average loan-to-deposit ratio for the fourth quarter of fiscal 2025 was 94.5%, as compared to 96.3% for the same period of the prior fiscal year. The period end loan-to-deposit ratios were 95.8% and 97.6% as of June 30, 2024, and 2025, respectively. The table below illustrates changes in deposit balances by type over recent periods: Summary Deposit Data as of: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands) 2025 2025 2024 2024 2024 Non-interest bearing deposits $ 508,110 $ 513,418 $ 514,199 $ 503,209 $ 514,107 NOW accounts 1,132,298 1,167,296 1,211,402 1,128,917 1,239,663 MMDAs – non-brokered 329,837 345,810 347,271 320,252 334,774 Brokered MMDAs 1,414 2,013 3,018 12,058 2,025 Savings accounts 661,115 626,175 573,291 556,030 517,084 Total nonmaturity deposits 2,632,774 2,654,712 2,649,181 2,520,466 2,607,653 Certificates of deposit – non-brokered 1,414,945 1,373,109 1,310,421 1,258,583 1,163,650 Brokered certificates of deposit 233,649 233,561 251,025 261,093 171,756 Total certificates of deposit 1,648,594 1,606,670 1,561,446 1,519,676 1,335,406 Total deposits $ 4,281,368 $ 4,261,382 $ 4,210,627 $ 4,040,142 $ 3,943,059 Public unit nonmaturity accounts $ 435,632 $ 472,010 $ 482,406 $ 447,638 $ 541,445 Public unit certificates of deposit 115,204 103,741 83,506 62,882 53,144 Total public unit deposits $ 550,836 $ 575,751 $ 565,912 $ 510,520 $ 594,589 FHLB advances were $104.1 million at June 30, 2025, an increase of $2.0 million, or 2.0%, as compared to June 30, 2024. The Company's stockholders' equity was $544.7 million at June 30, 2025, an increase of $55.9 million, or 11.4%, as compared to June 30, 2024. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $6.1 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company's investments appreciated due to the decrease in market interest rates. The AOCL totaled $11.4 million at June 30, 2025, as compared to $17.5 million at June 30, 2024. The Company does not hold any securities classified as held-to-maturity. Quarterly Income Statement Summary: The Company's net interest income for the three-month period ended June 30, 2025, was $40.3 million, an increase of $5.2 million, or 14.9%, as compared to the same period of the prior fiscal year. The increase was attributable to a 7.9% increase in the average balance of interest-earning assets in the current three-month period compared to the same period a year ago, and an increase of 21 basis points in the net interest margin, from 3.25% to 3.46%. The primary driver of the net interest margin expansion, compared to the year ago period, was the cost of interest-bearing liabilities decreasing 20 basis points, while the yield on interest-earning assets increased seven basis points. The overall increase in spread of 27 basis points was partially offset by a lower level of average interest-earning assets to average interest-bearing liabilities totaling 120.6% at June 30, 2025, down 1.1 percentage points compared to the year ago period, due to stronger deposit growth. Loan discount accretion and deposit premium amortization related to the November 2018 acquisition of First Commercial Bank, the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2023 acquisition of Citizens Bank & Trust resulted in $612,000 in net interest income for the three-month period ended June 30, 2025, as compared to $1.1 million in net interest income for the same period a year ago. Combined, this component of net interest income contributed five basis points to net interest margin in the three-month period ended June 30, 2025, as compared to a ten basis point contribution for the same period of the prior fiscal year, and as compared to a 13-basis point contribution in the linked quarter, ended March 31, 2025, when net interest margin was 3.39%. The Company recorded a PCL of $2.5 million in the three-month period ended June 30, 2025, as compared to a PCL of $900,000 in the same period of the prior fiscal year. The current period PCL was the result of a $2.0 million provision attributable to the ACL for loan balances outstanding and a $475,000 provision attributable to the allowance for off-balance sheet credit exposures. The increase was primarily attributable to providing for net charge-offs and to support loan growth, in addition to an increase in unfunded balances and an increase in the expected funding rate on available credit. The Company's noninterest income for the three-month period ended June 30, 2025, was $7.3 million, a decrease of $487,000, or 6.3%, as compared to the same period of the prior fiscal year. The decrease was attributable to lower other noninterest income and loan servicing fees. The decrease in other noninterest income was associated with the change in accounting for realization of tax credits, as the Company has adopted the proportional amortization method under ASU 2023-02, which results in a direct reduction to the provision for income taxes in fiscal 2025. The tax credit benefit recognized in other noninterest income in the three-month period ended June 2024 was $675,000. Loan servicing fees were negatively impacted by the recognition of a change in the fair value of mortgage servicing rights, which in the fourth quarter of fiscal 2025 resulted in a negative adjustment of $108,000, as compared to a benefit of $131,000 in the same period a year ago, due to changes in market rates and prepayment assumptions. These decreases as compared to the prior year period were partially offset by increases in other loan fees attributable to increased loan originations and higher deposit account charges and related fees primarily attributable to an increase in non-sufficient fund activity and an increase in maintenance and activity fees collected. Noninterest expense for the three-month period ended June 30, 2025, was $26.0 million, an increase of $974,000, or 3.9%, as compared to the same period of the prior fiscal year. The increase as compared to the year-ago period was primarily attributable to increases in legal and professional fees, data processing expense, and other noninterest expense. The Company experienced elevated legal and professional fees associated with consulting costs to negotiate a new contract with a large vendor totaling $425,000. Data processing expense increased due to an increase in third party ancillary software expenses and one-time reclassification of data processing expenses to other categories in the year-ago period. The increase in other noninterest expense was primarily due to card fraud losses and deposit product expenses. These increases as compared to the prior year period were partially offset by decreases in intangible amortization expense, as the core deposit intangible recognized in an older merger was fully amortized in the second quarter of fiscal 2025, and by reduced telecommunication expenses. The efficiency ratio for the three-month period ended June 30, 2025, was 54.6%, as compared to 58.3% in the same period of the prior fiscal year. The improvement was attributable to net interest income growing faster than operating expenses. The income tax provision was $3.4 million for the three-month period ended June 30, 2025, and for the same period of the prior fiscal year. The effective tax rate for the fourth quarter of fiscal year 2025 was 17.5%, as compared to 20.2% in the same period of the prior fiscal year. The decrease in the effective tax rate was primarily attributable to a $701,000 income tax benefit from the recognition of tax credits utilizing the proportional amortization method under ASC 2023-02. In the same period of the prior fiscal year, similar benefits were recognized through noninterest income. 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, expected cost savings, synergies and other benefits from our merger and acquisition activities might not be realized to the extent expected, 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 and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; the strength of the United States economy in general and the strength of local economies in which we conduct operations; fluctuations in interest rates and the possibility of a recession; monetary and fiscal policies of the FRB and the U.S. Government and other governmental initiatives affecting the financial services industry; potential imposition of new or increased tariffs or changes to existing trade policies that could affect economic activity or specific industry sectors; 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 credit losses; our ability to access cost-effective funding; the timely development 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 in 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 credit 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: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands, except per share data) 2025 2025 2024 2024 2024 Cash equivalents and time deposits $ 193,105 $ 227,136 $ 146,078 $ 75,591 $ 61,395 Available for sale (AFS) securities 460,844 462,930 468,060 420,209 427,903 FHLB/FRB membership stock 18,500 18,269 18,099 18,064 17,802 Loans held for sale 431 — — — — Loans receivable, gross 4,099,698 4,023,509 4,026,979 3,966,518 3,849,803 Allowance for credit losses 51,629 54,940 54,740 54,437 52,516 Loans receivable, net 4,048,069 3,968,569 3,972,239 3,912,081 3,797,287 Bank-owned life insurance 75,691 75,156 74,643 74,119 73,601 Intangible assets 73,721 74,677 75,399 76,340 77,232 Premises and equipment 95,982 95,987 96,418 96,087 95,952 Other assets 53,264 53,772 56,738 56,709 53,144 Total assets $ 5,019,607 $ 4,976,496 $ 4,907,674 $ 4,729,200 $ 4,604,316 Interest-bearing deposits $ 3,773,258 $ 3,747,964 $ 3,696,428 $ 3,536,933 $ 3,428,952 Noninterest-bearing deposits 508,110 513,418 514,199 503,209 514,107 Securities sold under agreements to repurchase 15,000 15,000 15,000 15,000 9,398 FHLB advances 104,072 104,072 107,070 107,069 102,050 Other liabilities 51,267 44,057 39,424 38,191 37,905 Subordinated debt 23,208 23,195 23,182 23,169 23,156 Total liabilities 4,474,915 4,447,706 4,395,303 4,223,571 4,115,568 Total stockholders' equity 544,692 528,790 512,371 505,629 488,748 Total liabilities and stockholders' equity $ 5,019,607 $ 4,976,496 $ 4,907,674 $ 4,729,200 $ 4,604,316 Equity to assets ratio 10.85 % 10.63 % 10.44 % 10.69 % 10.61 % Common shares outstanding 11,299,467 11,299,962 11,277,167 11,277,167 11,277,737 Less: Restricted common shares not vested 50,163 50,658 46,653 56,553 57,956 Common shares for book value determination 11,249,304 11,249,304 11,230,514 11,220,614 11,219,781 Book value per common share $ 48.42 $ 47.01 $ 45.62 $ 45.06 $ 43.56 Less: Intangible assets per common share 6.55 6.64 6.71 6.80 6.88 Tangible book value per common share (1) 41.87 40.37 38.91 38.26 36.68 Closing market price 54.78 52.02 57.37 56.49 45.01 (1) Non-GAAP financial measure. Nonperforming asset data as of: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands) 2025 2025 2024 2024 2024 Nonaccrual loans $ 23,040 $ 21,970 $ 8,309 $ 8,206 $ 6,680 Accruing loans 90 days or more past due — — — — — Total nonperforming loans 23,040 21,970 8,309 8,206 6,680 Other real estate owned (OREO) 625 1,775 2,423 3,842 3,865 Personal property repossessed 32 56 37 21 23 Total nonperforming assets $ 23,697 $ 23,801 $ 10,769 $ 12,069 $ 10,568 Total nonperforming assets to total assets 0.47 % 0.48 % 0.22 % 0.26 % 0.23 % Total nonperforming loans to gross loans 0.56 % 0.55 % 0.21 % 0.21 % 0.17 % Allowance for credit losses to nonperforming loans 224.08 % 250.07 % 658.80 % 663.38 % 786.17 % Allowance for credit losses to gross loans 1.26 % 1.37 % 1.36 % 1.37 % 1.36 % Performing modifications to borrowers experiencing financial difficulty $ 26,642 $ 23,304 $ 24,083 $ 24,340 $ 24,602 For the three-month period ended Quarterly Summary Income Statement Data: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands, except per share data) 2025 2025 2024 2024 2024 Interest income: Cash equivalents $ 1,698 $ 1,585 $ 784 $ 78 $ 541 AFS securities and membership stock 5,586 5,684 5,558 5,547 5,677 Loans receivable 63,354 62,656 63,082 61,753 58,449 Total interest income 70,638 69,925 69,424 67,378 64,667 Interest expense: Deposits 28,644 28,795 29,538 28,796 27,999 Securities sold under agreements to repurchase 191 189 226 160 125 FHLB advances 1,080 1,076 1,099 1,326 1,015 Subordinated debt 390 386 418 435 433 Total interest expense 30,305 30,446 31,281 30,717 29,572 Net interest income 40,333 39,479 38,143 36,661 35,095 Provision for credit losses 2,500 932 932 2,159 900 Noninterest income: Deposit account charges and related fees 2,156 2,048 2,237 2,184 1,978 Bank card interchange income 1,839 1,341 1,301 1,499 1,770 Loan late charges — — — — 170 Loan servicing fees 167 224 232 286 494 Other loan fees 917 843 944 1,063 617 Net realized gains on sale of loans 143 114 133 361 97 Net realized gains (losses) on sale of AFS securities — 48 — — — Earnings on bank owned life insurance 533 512 522 517 498 Insurance brokerage commissions 368 340 300 287 331 Wealth management fees 825 902 843 730 838 Other noninterest income 332 294 353 247 974 Total noninterest income 7,280 6,666 6,865 7,174 7,767 Noninterest expense: Compensation and benefits 13,852 13,771 13,737 14,397 13,894 Occupancy and equipment, net 3,745 3,869 3,585 3,689 3,790 Data processing expense 2,573 2,359 2,224 2,171 1,929 Telecommunications expense 312 330 354 428 468 Deposit insurance premiums 601 674 588 472 638 Legal and professional fees 1,165 603 619 1,208 516 Advertising 551 530 442 546 640 Postage and office supplies 336 350 283 306 308 Intangible amortization 857 889 897 897 1,018 Foreclosed property expenses, net (18) 37 73 12 52 Other noninterest expense 2,002 1,979 2,074 1,715 1,749 Total noninterest expense 25,976 25,391 24,876 25,841 25,002 Net income before income taxes 19,137 19,822 19,200 15,835 16,960 Income taxes 3,351 4,139 4,547 3,377 3,430 Net income 15,786 15,683 14,653 12,458 13,530 Less: Distributed and undistributed earnings allocated to participating securities 71 71 61 62 69 Net income available to common shareholders $ 15,715 $ 15,612 $ 14,592 $ 12,396 $ 13,461 Basic earnings per common share $ 1.40 $ 1.39 $ 1.30 $ 1.10 $ 1.19 Diluted earnings per common share 1.39 1.39 1.30 1.10 1.19 Dividends per common share 0.23 0.23 0.23 0.23 0.21 Average common shares outstanding: Basic 11,250,000 11,238,000 11,231,000 11,221,000 11,276,000 Diluted 11,270,000 11,262,000 11,260,000 11,240,000 11,283,000 For the three-month period ended Quarterly Average Balance Sheet Data: June 30, Mar. 31, Dec. 31, Sep. 30, June 30, (dollars in thousands) 2025 2025 2024 2024 2024 Interest-bearing cash equivalents $ 151,380 $ 143,206 $ 64,976 $ 5,547 $ 39,432 AFS securities and membership stock 498,491 508,642 479,633 460,187 476,198 Loans receivable, gross 4,018,769 4,003,552 3,989,643 3,889,740 3,809,209 Total interest-earning assets 4,668,640 4,655,400 4,534,252 4,355,474 4,324,839 Other assets 299,217 290,739 291,217 283,056 285,956 Total assets $ 4,967,857 $ 4,946,139 $ 4,825,469 $ 4,638,530 $ 4,610,795 Interest-bearing deposits $ 3,727,836 $ 3,737,849 $ 3,615,767 $ 3,416,752 $ 3,417,360 Securities sold under agreements to repurchase 15,000 15,000 15,000 12,321 9,398 FHLB advances 104,053 106,187 107,054 123,723 102,757 Subordinated debt 23,201 23,189 23,175 23,162 23,149 Total interest-bearing liabilities 3,870,090 3,882,225 3,760,996 3,575,958 3,552,664 Noninterest-bearing deposits 524,860 513,157 524,878 531,946 539,637 Other noninterest-bearing liabilities 37,014 31,282 31,442 33,737 35,198 Total liabilities 4,431,964 4,426,664 4,317,316 4,141,641 4,127,499 Total stockholders' equity 535,893 519,475 508,153 496,889 483,296 Total liabilities and stockholders' equity $ 4,967,857 $ 4,946,139 $ 4,825,469 $ 4,638,530 $ 4,610,795 Return on average assets 1.27 % 1.27 % 1.21 % 1.07 % 1.17 % Return on average common stockholders' equity 11.8 % 12.1 % 11.5 % 10.0 % 11.2 % Net interest margin 3.46 % 3.39 % 3.36 % 3.37 % 3.25 % Net interest spread 2.92 % 2.87 % 2.79 % 2.75 % 2.65 % Efficiency ratio 54.6 % 55.1 % 55.3 % 59.0 % 58.3 % Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
13-06-2025
- Business
- Yahoo
US Market's Undiscovered Gems Three Small Caps to Watch
Amidst the turbulence in global markets caused by geopolitical tensions and fluctuating oil prices, the U.S. stock market has been experiencing a mix of gains and setbacks, with major indices like the Dow Jones dropping significantly. Despite these challenges, small-cap stocks within the S&P 600 have shown resilience, offering potential opportunities for investors seeking undiscovered gems that could thrive in volatile conditions. Name Debt To Equity Revenue Growth Earnings Growth Health Rating West Bancorporation 169.96% -1.41% -8.52% ★★★★★★ Oakworth Capital 42.08% 15.43% 7.31% ★★★★★★ Metalpha Technology Holding NA 81.88% -4.97% ★★★★★★ FineMark Holdings 122.25% 2.34% -26.34% ★★★★★★ FRMO 0.09% 44.64% 49.91% ★★★★★☆ Valhi 43.01% 1.55% -2.64% ★★★★★☆ Gulf Island Fabrication 19.65% -2.17% 42.26% ★★★★★☆ Solesence 82.42% 23.41% -1.04% ★★★★☆☆ Reitar Logtech Holdings 31.39% 231.46% 41.38% ★★★★☆☆ Vantage 6.72% -16.62% -15.47% ★★★★☆☆ Click here to see the full list of 284 stocks from our US Undiscovered Gems With Strong Fundamentals screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Value Rating: ★★★★★★ Overview: Southern Missouri Bancorp, Inc. is the bank holding company for Southern Bank, offering a range of banking and financial services to individuals and corporate clients in the United States, with a market cap of $612.34 million. Operations: Southern Missouri Bancorp generates revenue primarily from its thrift/savings and loan institutions, totaling $172.93 million. Southern Missouri Bancorp, with total assets of US$5 billion and equity of US$528.8 million, is carving out a promising niche through strategic expansions into St. Louis and Kansas City. This bank shows robust growth, with earnings up 7.9% over the past year compared to the industry's 5.3%. It maintains a sufficient allowance for bad loans at 0.5% of total loans, indicating strong risk management practices. The company trades at a significant discount to its estimated fair value by about 50%, suggesting potential upside for investors who appreciate its low-risk funding structure and high-quality earnings profile. Southern Missouri Bancorp's growth is fueled by strategic expansions and operational efficiency improvements. Click here to explore the full narrative on Southern Missouri Bancorp. Simply Wall St Value Rating: ★★★★★☆ Overview: Global Ship Lease, Inc. operates by owning and chartering containerships under fixed-rate charters to container shipping companies globally, with a market capitalization of approximately $917.74 million. Operations: GSL generates revenue primarily through fixed-rate charters of its containerships, totaling approximately $715.23 million. The company's market capitalization is around $917.74 million. Global Ship Lease, a player in the shipping industry, has seen its earnings grow by 20% over the past year, outpacing the industry's -5% performance. The company's debt management is commendable with a net debt to equity ratio of 13%, and interest payments are well covered by EBIT at 23 times. Trading at 80% below estimated fair value suggests potential for investors seeking undervalued opportunities. Recent financials show revenue of US$190.98 million and net income of US$123.39 million for Q1 2025, reflecting robust profitability with basic earnings per share rising to US$3.4 from last year's US$2.54. Global Ship Lease's strategic fleet renewal and charter coverage aim for stable earnings growth. Click here to explore the full narrative on Global Ship Lease's investment potential. Simply Wall St Value Rating: ★★★★★☆ Overview: Valhi, Inc. operates in the chemicals, component products, and real estate management and development sectors across Europe, North America, the Asia Pacific, and internationally with a market cap of approximately $447.62 million. Operations: Valhi's revenue streams are primarily derived from chemicals ($1.90 billion), component products ($148.20 million), and real estate management and development ($66.50 million). Valhi's recent performance has been marked by a significant one-off gain of US$50.4M, contributing to an impressive earnings growth of 4082% over the past year, far outpacing the chemicals industry's -3.4%. The company's debt situation has improved, with its debt-to-equity ratio dropping from 81% to 43% over five years and a satisfactory net debt-to-equity ratio at 29.1%. Although free cash flow is not positive, Valhi's interest payments are well covered by EBIT at 7.7x coverage. Its price-to-earnings ratio stands attractively low at 3.8x compared to the US market average of 18.1x. Take a closer look at Valhi's potential here in our health report. Gain insights into Valhi's past trends and performance with our Past report. Click through to start exploring the rest of the 281 US Undiscovered Gems With Strong Fundamentals now. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SMBC GSL and VHI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
US Market's Undiscovered Gems Three Small Caps to Watch
Amidst the turbulence in global markets caused by geopolitical tensions and fluctuating oil prices, the U.S. stock market has been experiencing a mix of gains and setbacks, with major indices like the Dow Jones dropping significantly. Despite these challenges, small-cap stocks within the S&P 600 have shown resilience, offering potential opportunities for investors seeking undiscovered gems that could thrive in volatile conditions. Name Debt To Equity Revenue Growth Earnings Growth Health Rating West Bancorporation 169.96% -1.41% -8.52% ★★★★★★ Oakworth Capital 42.08% 15.43% 7.31% ★★★★★★ Metalpha Technology Holding NA 81.88% -4.97% ★★★★★★ FineMark Holdings 122.25% 2.34% -26.34% ★★★★★★ FRMO 0.09% 44.64% 49.91% ★★★★★☆ Valhi 43.01% 1.55% -2.64% ★★★★★☆ Gulf Island Fabrication 19.65% -2.17% 42.26% ★★★★★☆ Solesence 82.42% 23.41% -1.04% ★★★★☆☆ Reitar Logtech Holdings 31.39% 231.46% 41.38% ★★★★☆☆ Vantage 6.72% -16.62% -15.47% ★★★★☆☆ Click here to see the full list of 284 stocks from our US Undiscovered Gems With Strong Fundamentals screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Value Rating: ★★★★★★ Overview: Southern Missouri Bancorp, Inc. is the bank holding company for Southern Bank, offering a range of banking and financial services to individuals and corporate clients in the United States, with a market cap of $612.34 million. Operations: Southern Missouri Bancorp generates revenue primarily from its thrift/savings and loan institutions, totaling $172.93 million. Southern Missouri Bancorp, with total assets of US$5 billion and equity of US$528.8 million, is carving out a promising niche through strategic expansions into St. Louis and Kansas City. This bank shows robust growth, with earnings up 7.9% over the past year compared to the industry's 5.3%. It maintains a sufficient allowance for bad loans at 0.5% of total loans, indicating strong risk management practices. The company trades at a significant discount to its estimated fair value by about 50%, suggesting potential upside for investors who appreciate its low-risk funding structure and high-quality earnings profile. Southern Missouri Bancorp's growth is fueled by strategic expansions and operational efficiency improvements. Click here to explore the full narrative on Southern Missouri Bancorp. Simply Wall St Value Rating: ★★★★★☆ Overview: Global Ship Lease, Inc. operates by owning and chartering containerships under fixed-rate charters to container shipping companies globally, with a market capitalization of approximately $917.74 million. Operations: GSL generates revenue primarily through fixed-rate charters of its containerships, totaling approximately $715.23 million. The company's market capitalization is around $917.74 million. Global Ship Lease, a player in the shipping industry, has seen its earnings grow by 20% over the past year, outpacing the industry's -5% performance. The company's debt management is commendable with a net debt to equity ratio of 13%, and interest payments are well covered by EBIT at 23 times. Trading at 80% below estimated fair value suggests potential for investors seeking undervalued opportunities. Recent financials show revenue of US$190.98 million and net income of US$123.39 million for Q1 2025, reflecting robust profitability with basic earnings per share rising to US$3.4 from last year's US$2.54. Global Ship Lease's strategic fleet renewal and charter coverage aim for stable earnings growth. Click here to explore the full narrative on Global Ship Lease's investment potential. Simply Wall St Value Rating: ★★★★★☆ Overview: Valhi, Inc. operates in the chemicals, component products, and real estate management and development sectors across Europe, North America, the Asia Pacific, and internationally with a market cap of approximately $447.62 million. Operations: Valhi's revenue streams are primarily derived from chemicals ($1.90 billion), component products ($148.20 million), and real estate management and development ($66.50 million). Valhi's recent performance has been marked by a significant one-off gain of US$50.4M, contributing to an impressive earnings growth of 4082% over the past year, far outpacing the chemicals industry's -3.4%. The company's debt situation has improved, with its debt-to-equity ratio dropping from 81% to 43% over five years and a satisfactory net debt-to-equity ratio at 29.1%. Although free cash flow is not positive, Valhi's interest payments are well covered by EBIT at 7.7x coverage. Its price-to-earnings ratio stands attractively low at 3.8x compared to the US market average of 18.1x. Take a closer look at Valhi's potential here in our health report. Gain insights into Valhi's past trends and performance with our Past report. Click through to start exploring the rest of the 281 US Undiscovered Gems With Strong Fundamentals now. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SMBC GSL and VHI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
