Southern Missouri Bancorp Inc · Q4 2022 earnings

Briefing

Southern Missouri Bancorp reported a decrease in net income and earnings per share for Q4 2022, with net income decreasing due to increased noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income.

Southern Missouri Bancorp reported a net income of $13.1 million for Q4 2022, a decrease of 4.4% compared to the same period last year. Diluted earnings per share were $1.41, down from $1.53 in the prior year. The decrease was primarily due to increased noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income.

• Earnings per common share (diluted) were $1.41, down 7.8% compared to the same quarter a year ago.
• Annualized return on average assets was 1.62%, while annualized return on average common equity was 16.2%.
• Net interest margin for the quarter was 3.66%, as compared to 3.74% reported for the year ago period.
• Noninterest income was up 33.8% for the quarter, as compared to the year ago period.

Headline financials

Revenue & EPS history

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, generally, resulting from the ongoing COVID-19 pandemic and any governmental or societal responses thereto