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Mar 31, 2024
Southern Missouri Bancorp Q3 2024 Earnings Report
Net income and EPS increased significantly due to decrease in PCL and non-interest expense, and an increase in net interest income, partially offset by a decrease in non-interest income and an increase in provision for income taxes.
Key Takeaways
Southern Missouri Bancorp reported a preliminary net income of $11.3 million for Q3 2024, a significant increase of $8.9 million or 369% compared to the same period last year. EPS was $0.99, up $0.77 from Q3 2023.
Earnings per common share (diluted) were $0.99, up $0.77, or 350%, as compared to the same quarter a year ago.
Annualized return on average assets (“ROA”) was 0.97%, while annualized return on average common equity (“ROE”) was 9.5%, as compared to 0.23% and 2.3%, respectively, in the same quarter a year ago.
Net interest margin for the quarter was 3.15%, as compared to 3.48% reported for the year ago period.
Noninterest expense was down 7.2% for the current quarter, as compared to the same quarter a year ago, primarily as a result of the one-time merger expenses associated with the January 2023 merger with Citizens.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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