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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.
Southern Missouri Bancorp
Southern Missouri Bancorp
Southern Missouri Bancorp Revenue by Segment
Revenue by Segment
Deposit Account Charges Revenue
CapyFin.comBank Card Interchange Income Revenue
CapyFin.comLoan Servicing Fees Revenue
CapyFin.comOther Loan Fees Revenue
CapyFin.comNet Realized Gains on Sale of Loans Revenue
CapyFin.comEarnings on Bank Owned Life Insurance Revenue
CapyFin.comInsurance Brokerage Commissions Revenue
CapyFin.comWealth Management Fees Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.comNet Realized Gains (Losses) on Sale of AFS Securities Revenue
CapyFin.comLoan Late Charges Revenue
CapyFin.com 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.