What were the key takeaways from Southern Missouri’s earnings call?

What factors drove the changes in Southern Missouri's revenue and profit?

Did Southern Missouri beat or miss consensus estimates last quarter?

What is Southern Missouri's gross profit margin?

What were the key takeaways from Southern Missouri's earnings call?

What is the market's earnings forecast for Southern Missouri next quarter?

What is the revenue and EPS growth rate for Southern Missouri year over year?

What is Southern Missouri's latest dividend and current dividend yield?

- **Loan growth acceleration**: 8.8% annualized loan growth with $225 million year-over-year increase.
- **Margin expansion**: 3.57% net interest margin (up 10 basis points quarter-over-quarter).
- **Credit quality concerns**: Nonperforming loans at 0.62%, driven by special purpose CRE relationship.
- **Agricultural sector risks**: Mixed crop yields, elevated input costs, and stable land/equipment values.
- **Strategic initiatives**: M&A pipeline with focus on $1 billion+ deals, 50+ potential partners.

**【Management Opening Remarks】**
- **Stable earnings growth**: Net interest margin expanded to 3.57% (up 10 basis points quarter-over-quarter), driven by loan yield increases and deposit cost decreases.
- **Loan growth momentum**: Gross loans increased $91 million (2.2% linked quarter) with annualized growth of $225 million (5.7% year-over-year).
- **Deposit stability**: Core deposits grew $14 million (0.3% linked quarter) with 12-month growth of $240 million (5.9%).
- **Share buyback activity**: Repurchased 8,000 shares at $55 average price, representing 127% of tangible book value.

**【CEO Summary Section】**
- **Credit quality metrics**: Nonperforming loans at 0.62% (up 6 basis points linked quarter), driven by special purpose CRE relationship.
- **Agricultural sector challenges**: Mixed crop yields, elevated input costs, and stable land/equipment values.
- **Strategic initiatives**: M&A pipeline with focus on $1 billion+ asset deals, 50+ potential partners in Missouri/Arkansas.

**【CFO Financial Commentary】**
- **Net interest income drivers**: 8 basis point yield expansion, 1 basis point deposit cost decline.
- **Expense management**: Noninterest expense down 3.6% ($925,000) linked quarter, offset by $707,000 noninterest income decline.
- **Credit metrics**: Allowance for credit losses at 124% of gross loans, up from 118% linked quarter.

**【Q&A Highlights】**
- **Charge-off outlook**: Expect decline from recent elevated levels, but 2025 ag season uncertain.
- **Margin sensitivity**: 1-3% net interest income benefit from rate cuts.
- **M&A activity**: Authorized 200,000 shares for buyback, targeting 3-year earnback period.
- **Agricultural risk**: 30% soybeans/30% corn mix with mixed 2025 crop yields.

Southern Missouri Bancorp, Inc. (SMBC) Q1 2026 Earnings Call Transcript

- **Strong Earnings Growth**: Q4 EPS of $1.39 (+17% YoY), FY25 EPS of $5.18 (+17% YoY) driven by loan growth and margin expansion.
- **Loan Pipeline Strength**: $224M pipeline vs. $163M linked quarter, targeting mid-single-digit FY26 growth.
- **Credit Challenges**: NPLs up $16M YoY, but ACL coverage at 224% of NPLs and strong underwriting mitigating risk.
- **Agricultural Sector Stress**: Farmers facing weak prices, rising costs, and 2025 profitability outlook of -10%+.
- **M&A Opportunity**: 50+ potential targets in MO/AR, with preference for transactions over buybacks based on relative value.

**【CFO Opening Remarks】**
- CFO Stefan Chkautovich kicked off the call, referencing the Q4 2025 earnings release and cautioning about forward-looking statements. He highlighted the company's strong capital position and the announcement of a dividend increase.

**【President & CEO Summary】**
- **Earnings Performance**: Q4 EPS of $1.39 (unchanged QoQ, +17% YoY) and FY25 EPS of $5.18 (+17% YoY), driven by net interest income growth and margin expansion.
- **Loan Growth**: Q4 gross loans increased $76M (7.6% annualized), with strong pipeline of $224M for next 90 days. FY25 loan growth of 6.5%.
- **Dividend Increase**: Quarterly dividend raised to $0.25/share (+8.7%), reflecting strong capital position.
- **Net Interest Margin (NIM)**: Q4 NIM of 3.46% (3.39% linked quarter), with planned change to annualized day count calculation in FY26 to reduce volatility.

**【CEO Credit & Ag Sector Update】**
- **Credit Quality**: Adversely classified loans at $50M (1.2% of total loans), nonperforming loans (NPLs) at $23M (0.56% of loans). NPLs up $16M YoY due to CRE and C&I credits.
- **Agricultural Challenges**: Farmers facing weak commodity prices, rising input costs, and tight margins. 95% of 2024 crop sold, but 2025 profitability outlook negative. Farmland values firm but collateral coverage weakening.
- **Reserves**: Increased reserves for watch list ag borrowers, with ACL at $51.6M (1.26% of loans) vs. $54.9M linked quarter.

**【CFO Financial Details】**
- **Noninterest Income**: +9.2% QoQ due to card network bonuses, offset by MSR fair value reduction.
- **Expenses**: +2.3% QoQ driven by consulting fees ($425K) and data processing costs.
- **Provision for Credit Losses**: $2.5M Q4 vs. $0.93M linked quarter, reflecting higher charge-offs and economic outlook.
- **Earnings Growth**: ROA 1.21%, ROE 11.4%, with 10% CAGR in tangible book value over 5 years.

**【Q&A Highlights】**
- **Loan Growth Momentum**: Steady Q4 growth, with pipeline up 37% YoY. Expect mid-single-digit FY26 growth despite near-term prepayment risk in CRE.
- **Prepayment Risk**: Several large CRE credits plan to payoff in early FY26, potentially offsetting pipeline strength.
- **Margin Expectations**: NIM expansion from loan repricing and CD specials reduction. If Fed cuts rates, deposit cost reduction could drive further margin growth.
- **Deposit Competition**: CD rates rolling off at 4.24% vs. current 4%, with non-maturity deposits expected to fund more growth.
- **M&A Activity**: Increased merger discussions, with 50+ potential targets in MO/AR. Buyback vs. M&A decision based on relative value to tangible book.


Southern Missouri Bancorp, Inc. (SMBC) Q4 2025 Earnings Call Transcript

- **Record Q3 Earnings**: $1.39 EPS beats prior quarter and year by 6.3% and 28.6%.
- **Expanding Margin**: NIM 3.39% driven by 4.25% CD repricing, with $215M rollovers next 3 months.
- **Credit Challenges**: NPLs +14M to $22M, but ACL coverage at 250% and charge-offs stable at 11bp.
- **Ag Sector Resilience**: $53M ag loans to pay down, supported by gov't price protections.
- **Share Buyback Ready**: 8-9% equity target met; repurchase consideration at current price.

**【President & CEO Overview】**
- Q3 2025 net income per diluted share: $1.39 (up 6.3% QoQ, +28.6% YoY). 
- Net interest margin (NIM): 3.39% (vs. 3.15% YoY, +3bp QoQ). 
- Loan growth: $252M YoY (+7%), with $163M pipeline for next 90 days. 
- Deposit growth: $51M QoQ (+1.7%), $275M YoY (+7%).

**【CEO Credit Quality Update】**
- Nonperforming loans (NPLs): $22M (0.55% of loans) vs. $8M QoQ, driven by $10M CRE loans in default. 
- Delinquent loans: $24M (up $11M QoQ), mostly from ag sector stress. 
- Allowance for credit losses (ACL): $54.9M (1.37% of loans, 250% coverage of NPLs). 
- Annualized net charge-offs: 11bp vs. 2bp QoQ, 5bp FYTD.

**【CFO Financial Details】**
- NIM drivers: 
  - +13bp from fair value accretion 
  - -7bp from short day count 
  - +6bp from loan payoff gains
- Interest-bearing cash: $143M (up $78M QoQ, constraining NIM). 
- Noninterest income: -$2.9M QoQ (lower fees), +$1.1M YoY. 
- Expense growth: 2.1% QoQ due to repair costs, taxes.

**【Q&A Highlights】**
1. **NIM Outlook**: 
   - Q4 NIM expected ~3.40% run rate
   - $215M CDs maturing at 4.25% to reprice at 4.10% over next 3 months
2. **Ag Sector Risk**: 
   - $53M ag operating loans expected to pay down over next 6 months
   - Govt price supports mitigating $0.30/bu corn price impact
3. **Share Repurchases**: 
   - Target 8-9% tangible equity ratio
   - Repurchase if 3-year earnback period achievable
4. **CRE Concentration**: 
   - 304% of Tier 1 capital in CRE ACL (vs. 325% target)
   - $1.2B CDs maturing at 4.26% over 12 months

Southern Missouri Bancorp, Inc. (SMBC) Q3 2025 Earnings Call Transcript

- **Record Q2 earnings**: $1.30 EPS vs $1.10 prior year, driven by $60M loan growth
- **Stable NIM**: 3.36% maintained vs prior quarter despite $80M cash build
- **Strong balance sheet**: Deposit growth outpaces loan growth (5.5% vs 7.9% YoY)
- **Credit resilience**: <1% NPL ratio, 2 bps charge-offs despite ag commodity price headwinds
- **Efficiency gains**: 3.7% expense reduction, 12% TBV growth, 306% CRE concentration below 375% internal cap

**【President & CEO Summary】**
- Q2 net income per diluted share: $1.30 (up $0.20 QoQ, $0.23 YoY)
- Gross loan growth: $60M QoQ (+6.1% annualized), $295M YoY (+7.9%)
- Deposit growth: $170M QoQ (+$225M YoY, +5.5%)
- Tangible book value per share: $38.91 (+12% YoY)
- Seasonal deposit inflows offset by FOMC rate cuts maintained net interest margin at 3.36% (flat QoQ)

**【CFO Financial Details】**
- Net interest income: +4% QoQ, +10.5% YoY
- Non-interest expense: -3.7% QoQ due to lower compensation & legal fees
- Provision for credit losses: $932K Q2 vs $2.2M Q1
- Allowance for loan losses: $55M (1.36% of gross loans)
- Effective tax rate: 23.7% Q2 vs 21.3% Q1

**【Credit Quality Highlights】**
- Nonperforming loans: $8M (21 bps of total loans)
- Delinquent loans <30 days: $7M (17 bps of loans)
- Net charge-offs: 2 bps annualized
- Agricultural real estate balances stable QoQ, +$42M YoY

**【Q&A Key Takeaways】**
- Loan growth outlook: Mid-single digits FY25, with Q3 construction drawdowns
- Deposit competition: Mixed rates (4.5-5.5%), no rural/metro differentiation
- Liquidity strategy: Opportunistic MBS purchases ($48M Q2), balanced with seasonal cash
- Expense trends: $840K PII costs in Q1, mid-single-digit comp increases in Q3
- CRE concentration: 306% of capital, targeting 300-325% range

Southern Missouri Bancorp, Inc. (SMBC) Q2 2025 Earnings Call Transcript

Southern Missouri Bancorp (SMBC)-29 Oct 24-2025 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-30 Jul 24-2024 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-30 Apr 24-2024 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-30 Jan 24-2024 Q2 Earnings call transcript

Southern Missouri Bancorp (SMBC)-24 Oct 23-2024 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-25 Jul 23-2023 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-2 May 23-2023 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-31 Jan 23-2023 Q2 Earnings call transcript

Southern Missouri Bancorp (SMBC)-25 Oct 22-2023 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-26 Jul 22-2022 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-26 Apr 22-2022 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-25 Jan 22-2022 Q2 Earnings call transcript

Southern Missouri Bancorp (SMBC)-26 Oct 21-2022 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-28 Jul 21-2021 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-28 Apr 21-2021 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-27 Oct 20-2020 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-28 Jul 20-2020 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-28 Jan 20-2020 Q2 Earnings call transcript

Southern Missouri Bancorp (SMBC)-22 Oct 19-2020 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-23 Jul 19-2019 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-23 Apr 19-2019 Q3 Earnings call transcript

Southern Missouri Bancorp (SMBC)-23 Jan 19-2019 Q2 Earnings call transcript

Southern Missouri Bancorp (SMBC)-23 Oct 18-2019 Q1 Earnings call transcript

Southern Missouri Bancorp (SMBC)-24 Jul 18-2018 Q4 Earnings call transcript

Southern Missouri Bancorp (SMBC)-24 Apr 18-2018 Q3 Earnings call transcript

SMBC

SMBC fundamentals

Earnings Call

You can ask Aime