Southern Missouri Bancorp Inc (NAS:SMBC)
$ 55.08 -0.59 (-1.06%) Market Cap: 621.18 Mil Enterprise Value: 684.43 Mil PE Ratio: 12.48 PB Ratio: 1.27 GF Score: 78/100
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Preliminary Q4 2024 Southern Missouri Bancorp Inc Earnings Call Transcript

Jul 30, 2024 / 02:30PM GMT
Release Date Price: $55.38 (+9.32%)

Key Points

Positve
  • Southern Missouri Bancorp Inc (SMBC) reported a 13.4% increase in tangible book value per share over the fiscal year.
  • Net interest margin expanded to 3.25% in the June quarter, up from 3.15% in the previous quarter.
  • Noninterest income increased by 39.1% compared to the linked quarter.
  • Gross loan balances increased by $79 million or 8.3% annualized compared to March 31st.
  • Credit quality remained strong with nonperforming loans decreasing to $6.7 million, or 0.17% of gross loans.
Negative
  • Net interest margin is down by 35 basis points compared to the same quarter a year ago.
  • Noninterest income was down 13.2% year over year due to reduced loan fee income and NSF revenues.
  • Net interest income decreased by 3.1% year over year, primarily due to margin compression.
  • Noninterest expense increased by 0.5% compared to the same quarter a year ago.
  • The agricultural sector faces challenges with high production costs and lower commodity prices, impacting loan draws.
Operator

The Missouri Bancorp quarterly earnings call. My name is Alex, and I'll be coordinating the call today. If you'd like to ask a question at the end of the presentation, please press star, followed by one on your telephone keypad. And I hand over to your host, Stefan, to cultivate CFH. Begin. Please go ahead.

Stefan Chkautovich
Southern Missouri Bancorp Inc - Chief Financial Officer, Executive Vice President, Principal Accounting Officer

Thank you, Alex. Good morning, everyone. This is Stephanie Kabbage CFO with Southern Missouri Bancorp. Thank you for joining us for the purpose of this call is to review the information and data presented in our quarterly earnings release dated Monday, July 29th, 2024.

And to take your questions, we may make certain forward-looking statements during today's call, and we refer you to our cautionary statement regarding forward-looking statements contained in the press release. I'm joined on the call today by Matt funky, President and Chief Administrative Officer, Gregg Stepan's, our Chairman and CEO is attending our

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