Loading...
•
Jun 30, 2023
Southern Missouri Bancorp Q4 2023 Earnings Report
Southern Missouri Bancorp reported an increase in net income for Q4 2023, driven by growth in net interest and noninterest income, offset by higher noninterest expense.
Key Takeaways
Southern Missouri Bancorp reported a net income of $15.6 million for the fourth quarter of fiscal year 2023, which represents an 18.9% increase compared to the same period last year. Diluted earnings per share were $1.37, a slight decrease of $.04 year-over-year. The results were influenced by increases in net interest income and noninterest income, which were partially offset by an increase in noninterest expense.
Earnings per common share (diluted) were $1.37, down $.04, or 2.8%, as compared to the same quarter a year ago, and up $1.15, or 522.7% from the third quarter of fiscal 2023.
Annualized return on average assets (ROA) was 1.44%, while annualized return on average common equity (ROE) was 14.1%, as compared to 1.62% and 16.2%, respectively, in the same quarter a year ago, and 0.23% and 2.3%, respectively, in the third quarter of fiscal 2023.
Net interest margin for the quarter was 3.60%, down from the 3.66% reported for the year ago period, and up from 3.48% reported for the third quarter of fiscal 2023.
Noninterest income was up 37.7% for the quarter, as compared to the year ago period, and up 42.4% as compared to the third quarter of fiscal 2023, as several seasonal factors improved revenues.
Forward Guidance
This press release contains forward-looking statements subject to risks, uncertainties, and other factors that could cause actual results to differ materially. These factors include economic conditions, the impact of the COVID-19 pandemic, bank failures, interest rate fluctuations, and legislative or regulatory changes.
Positive Outlook
- Timely development and acceptance of new products and services
- Success at managing the risks involved in lending and investing activities
- Ability to access cost-effective funding
- Management of risks involved in technological changes
- Continued monitoring of hotel industry borrowers slow to recover from the COVID-19 pandemic
Challenges Ahead
- The remaining effects of the COVID-19 pandemic on general changes in economic conditions
- Expected cost savings, synergies and other benefits from our merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention and labor shortages, might be greater than expected
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...