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Jun 30, 2021
Southern Missouri Bancorp Q4 2021 Earnings Report
Net income increased significantly due to negative provision for credit losses and growth in net interest and noninterest income.
Key Takeaways
Southern Missouri Bancorp reported a strong fourth quarter for fiscal year 2021, with net income increasing by 98.3% compared to the same period last year, driven by a negative provision for credit losses, increased net interest and noninterest income, and decreased noninterest expense.
Net income for the fourth quarter of fiscal 2021 was $13.7 million, a 98.3% increase year-over-year.
Earnings per share (diluted) for the fourth quarter were $1.53, up 101.3% year-over-year.
The company recorded a negative provision for credit losses totaling $2.6 million.
Net loans increased $65.4 million during the quarter, despite a $37.5 million decline in PPP loan balances.
Forward Guidance
The company expects some of the higher than normal deposit balances to dissipate in coming quarters and anticipates forgiveness payments to continue in the next several quarters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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