Southern Missouri Bancorp, Inc. (SMBC) SEC Filings & Earnings Calls

Provision for income taxes increased $1.7M from linked quarter due to non-recurring tax credit benefit in prior quarter.

“Provision for income taxes was $4.5 million, an increase of $678,000 from the prior-year quarter and an increase of $1.7 million from the linked quarter, primarily reflecting a $1.7 million tax benefit from tax credit investments recognized in the linked quarter that did not recur.” · word for word

Noninterest expense increased, partially offsetting earnings growth.

“This was partially offset by higher noninterest expense and higher provision for income taxes.” · word for word

Related party transactions

“Loans to all directors and executive officers and their associates totaled approximately $39.1 million at June 30, 2026, which was approximately 6.6% of the Company’s consolidated shareholders’ equity at that date.” · word for word

Credit Quality Deterioration

“Provision for credit losses increased 76% to $11.5M from $6.5M.”

Cash Decline

“Cash and cash equivalents decreased 52.8% to $90.97M from $192.86M.”

Interest Rate Risk

“Unrealized losses on AFS securities of $15.1M indicate sensitivity to interest rate changes.”

Increase in provision for credit losses driven by higher net charge-offs and ACL model update

“PCL was $3.2 million during the fourth quarter of fiscal 2026, a $694,000 increase from the year ago period and a $1.1 million increase from the third quarter of fiscal 2026, the linked quarter. The increase was primarily driven by higher net charge-offs, higher reserves required for pooled loans driven largely by the Bank’s annual ACL model update” · word for word

Agricultural production relationship placed on nonaccrual status, reversing $603k accrued interest

“Net interest income in the fourth quarter of fiscal 2026 included a $603,000 reversal of accrued interest related to an agricultural production relationship placed on nonaccrual status” · word for word

Agricultural sector credit pressure

“The increase in the ACL was primarily attributable to higher reserves required for pooled loans, driven largely by increased reserves on agriculture loans reflecting ongoing pressure in the agricultural sector, and loan growth.” · word for word

Loan-to-deposit ratio increase

“The average loan-to-deposit ratio for the third quarter of fiscal 2026 was 98.0%, as compared to 94.5% for the quarter ended June 30, 2025, and 94.2% for the same period of the prior fiscal year.” · word for word

Classified loan increase

“At March 31, 2026, the Company had adversely classified loans of $55.5 million, or 1.28% of total loans, ($54.9 million classified “substandard”; $594,000 classified “doubtful”), as compared to adversely classified loans of $49.6 million, or 1.21% of total loans, at June 30, 2025.” · word for word

Past due loan increase

“The Company’s total past due loans increased from $25.6 million at June 30, 2025, to $32.0 million at March 31, 2026.” · word for word

Limited forward-looking information; presentation is backward-looking.

“No guidance or outlook provided.”

Provision for credit losses increased significantly due to higher reserves on agriculture loans.

“PCL was $2.1 million, an increase of $1.1 million from the year ago period, driven largely by increased reserves on agriculture loans reflecting ongoing pressure in the agricultural sector.”

Credit quality deterioration

“At December 31, 2025, the Company had loans of $58.8 million, or 1.39% of total loans, adversely classified ($58.2 million classified 'substandard'; $599,000 classified 'doubtful'), as compared to loans of $49.6 million, or 1.21% of total loans, adversely classified at June 30, 2025.” · word for word

Concentration in non-owner occupied CRE

“The Bank’s concentration in non-owner occupied commercial real estate, as defined for regulatory purposes, is estimated at 289.4% of Tier 1 capital and ACL at December 31, 2025.” · word for word

Provision for credit loss (PCL) expense increased, partially offsetting net income growth.

“The increase was attributable to an increase in net interest income, partially offset by increases in provision for credit loss (PCL) expense” · word for word

Credit quality deterioration

“At September 30, 2025, the Company had loans of $55.1 million, or 1.31% of total loans, adversely classified ($54.5 million classified 'substandard'; $603,000 classified 'doubtful'), as compared to loans of $49.6 million, or 1.21% of total loans, adversely classified at June 30, 2025.” · word for word

Concentration in non-owner occupied CRE

“The Bank’s concentration in non-owner occupied commercial real estate loans is estimated at 295.7% of Tier 1 capital and ACL at September 30, 2025.” · word for word