Southern Missouri Bancorp Q2 2021 Earnings Report
Key Takeaways
Southern Missouri Bancorp reported a strong second quarter with a significant increase in net income driven by growth in net interest income and noninterest income. The company also increased its quarterly dividend by 6.7%.
Net income for the second quarter of fiscal 2021 was $12.0 million, a 56.1% increase year-over-year.
Earnings per share (EPS) increased to $1.32, up from $0.84 in the same period last year.
The Board of Directors declared a quarterly cash dividend of $0.16 per common share, a 6.7% increase.
Total assets reached $2.6 billion, a 3.2% increase from June 30, 2020.
Southern Missouri Bancorp
Southern Missouri Bancorp
Forward Guidance
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
Challenges Ahead
- 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
- Expected cost savings, synergies and other benefits from our merger and acquisition activities might not be realized to the extent anticipated, 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, might be greater than expected
- The strength of the United States economy in general and the strength of the local economies in which we conduct operations
- Fluctuations in interest rates and in real estate values
- Monetary and fiscal policies of the FRB and the U.S. Government and other governmental initiatives affecting the financial services industry