Poplar Bluff, Missouri, July 12, 2019 – Shares of Southern Missouri Bancorp Inc. (NASDAQ: SMBC) gained 0.83% to $32.67. The stock traded total volume of 5.995K shares lower than the average volume of 13.64K shares.
Southern Missouri Bancorp, Inc. (SMBC), the parent corporation of Southern Bank (“Bank”), recently declared preliminary net income for the third quarter of fiscal 2019 of $7.10M, a boost of $1.80M, or 34.9%, as contrast to the same period of the prior fiscal year. The increase was attributable to increases in net interest income and noninterest income, and decreases in provision for income taxes and provision for loan losses, partially offset by a boost in noninterest expense. Preliminary net income per fully diluted common share was $.76, a boost of $.16 as contrast to the $.60 per fully diluted common share reported for the same period of the prior fiscal year.
Highlights for the third quarter of fiscal 2019:
- Net loan growth for the third quarter was $22.00M in what is typically a seasonally slow quarter for the Company. Net loans are up $260.10M, or 16.6% for the fiscal year to date, which includes $144.30M in loans attained in the Company’s November 2018 acquisition of Gideon Bancshares, the parent of First Commercial Bank (the “Gideon Acquisition”).
- Deposit growth was $78.10M for the third quarter, as organic deposit growth continued to improve. Deposits are up $294.20M, or 18.6%, for the fiscal year to date, which includes $171.20M in deposits assumed in the Gideon Acquisition.
- Nonperforming assets were $26.30M, or 1.21% of total assets, at March 31, 2019, as contrast to $13.10M, or 0.69% of total assets, at June 30, 2018, and $10.40M, or 0.56% of total assets, at March 31, 2018. The increase was mainly attributable to the Gideon Acquisition.
SMBC has the market capitalization of $297.30M and its EPS growth ratio for the past five years was 11.90%. The return on assets ratio of the Company was 1.30% while its return on investment ratio stands at 24.40%. Price to sales ratio was 3.25 while 48.90% of the stock was owned by institutional investors.