Southern Missouri Bancorp Q3 2022 Earnings Report
Key Takeaways
Southern Missouri Bancorp reported a net income of $9.4 million for Q3 2022, a decrease of 18.4% compared to the same period last year. EPS (diluted) was $1.03, down by 18.9% year-over-year. The results were impacted by one-time charges related to the merger with Fortune Financial Corporation.
Provision for credit losses was $1.6 million, an increase compared to a recovery of $409,000 in the same period last year.
Noninterest expense increased by 23.9% compared to the year-ago period, including $1.1 million in charges related to the Fortune merger.
Annualized return on average assets was 1.22%, and annualized return on average common equity was 11.9%.
Deposit balances increased by $302.7 million, inclusive of $218.3 million attributable to the Fortune merger.