Southern Missouri Bancorp Q4 2020 Earnings Report
Key Takeaways
Southern Missouri Bancorp reported a net income of $6.9 million for Q4 2020, a decrease of 8.7% compared to the same period last year. Earnings per diluted common share were $0.76, down by $0.05 from the previous year. The decrease was attributed to increases in noninterest expense and provision for loan losses, partially offset by increases in net interest income and noninterest income.
Annualized return on average assets was 1.10%, and return on average common equity was 10.8%.
Earnings per common share (diluted) were $.76, down $.05, or 6.2%, as compared to the same quarter a year ago, and up $.21, or 38.2%, from the third quarter of fiscal 2020.
Provision for loan losses was $1.9 million, an increase of $1.3 million, or 242.1%, as compared to the same period of the prior year.
Net loan growth for the fourth quarter of fiscal 2020 was $174.1 million, resulting from $132.3 million in the Small Business Administration’s Paycheck Protection Program (PPP) loans, as well as the acquisition of $51.4 million in loans in the Company’s acquisition of Central Federal.
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