Southern Missouri Bancorp, Inc. · NASDAQ:SMBC
Southern Missouri Bancorp — Investor Presentation (March 2023)
17 slides from Southern Missouri Bancorp's investor presentation, Mar 2, 2023
Slide 1: Southern Missouri Bancorp
N wa Southern Missouri BANCORP NASDAQ: SMBC March 2, 2023
Slide 2: Company Overview
Company Overview Headquartered in Poplar Bluff, MO, with locations across southern Missouri, in the St. Louis, MO, Metropolitan Statistical Area (MSA), in northeast and north-central Arkansas, and in southern Illinois, $3.5 billion in assets as of December 31, 2022. Loans, net, totaled $3.0 billion;
Slide 3: Company Overview (cont.)
Company Overview (cont.) Effective July 1, 2020, the Company adopted ASU 2016-13, the current expected credit losses (CECL) standard. The Company recorded a negative provision for credit losses (PCL) of $1.0 million for fiscal 2021. During fiscal 2022, the Company recorded a PCL of $1.5 million. Pro
Slide 4: Branch Map
Branch Map As of December 31, 2022, Southern Bank operated 51 banking facilities across southern Missouri, in the St. Louis, MO MSA, northeast and north-central Arkansas, and southern Illinois, prior to the Citizens merger. The Citizens merger added 14 branches in the Kansas City, St. Joseph, and ot
Slide 5: Profitability and Earnings History
Profitability and Earnings History 1.17% 1.38% 1.18% 1.79% 1.59% 1.26% FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 11.3% 13.1% 11.1% 17.7% 15.4% 13.0% FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 Return on average common equity $2.29 $2.97 $2.94 $5.05 $5.17 $2.28 $2.39 $3.14 $2.99 $5.22 $
Slide 6: Earnings Components
Earnings Components Net interest income, NIM, and core NIM* (dollars in thousands) $62,383 $72,782 $80,136 $92,686 $103,567 $56,758 3.78% 3.78% 3.72% 3.77% 3.72% 3.55% 3.64% 3.63% 3.64% 3.69% 3.66% 3.49% 3.25% 3.50% 3.75% 4.00% $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 FY 2018 FY 2019 FY
Slide 7: Credit Quality Performance
Credit Quality Performance 0.58% 1.13% 0.40% 0.26% 0.15% 0.16% 0.00% 0.50% 1.00% 1.50% FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 1.15% 1.07% 1.16% 1.49% 1.22% 1.25% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 139% 80% 224% 409% 526% 564%
Slide 8: Loan Growth
Loan Growth Loan portfolio, at period end (gross loans, excluding loans in process and deferred loan fees; dollars in millions) $1,582 $1,866 $2,171 $2,237 $2,720 $2,995 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 Consumer & Other Agricultural Operating & Equip. Commercial Business Constructio
Slide 9: Loan Portfolio Composition
Loan Portfolio Composition Residential R/E, 34.4% Commercial R/E, 34.2% Agricultural R/E, 7.4% Construction R/E, 5.2% Commercial Business, 11.6% Agricultural Operating & Equip., 3.8% Consumer and Other, 3.4% Residential R/E, 28.5% Commercial R/E, 34.4% Agricultural R/E, 10.1% Construction R/E, 4.2%
Slide 10: Deposit Growth
Deposit Growth Deposits, at period end (dollars in millions) Data is as of June 30, except for FYTD 2023, which is as of December 31, 2022. Acquisitions over this time period included the following deposit balances assumed, noted at fair value on the acquisition date: FortuneBank Acquisition, Februa
Slide 11: Deposit Portfolio Composition
Deposit Portfolio Composition CDs >= $250,000, 7.3% Brokered CDs (not reciprocal), 0.9% CDs < $250,000, 25.5% Savings, 10.0% MMDAs, 7.4% NOW, 36.0% Noninterest, 12.9% Deposits, as of June 30, 2018 Deposits, as of December 31, 2022 CDs >= $250,000, 5.5% Brokered CDs (not reciprocal), 3.3% CDs < $250,
Slide 12: Stock Valuation
Stock Valuation $0.44 $0.52 $0.60 $0.62 $0.80 $0.42 1.13% 1.49% 2.47% 1.38% 1.77% 1.83% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FYTD 2023 Dividends per Common Share Annualized Dividend Yield Dividen
Slide 13: Stock Performance – Five Year Total Return
Stock Performance – Five Year Total Return Data is as of February 23, 2023, when our closing stock price was $47.31. Source: S&P Global Market Intelligence 13
Slide 14: Important Statements
Important Statements Forward Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Southern Missouri Bancorp, Inc. (the “Company”). These forward-looking statements may include, without limit
Slide 15: Forward Looking Statements, continued
Forward Looking Statements, continued the impact of technological changes; and our success at managing the risks involved in the foregoing. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information
Slide 16: Important Statements (cont.)
Important Statements (cont.) 16 Dollars in thousands, except per share data June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 Dec. 31, 2022 Common stockholders' equity $ 200,694 $ 238,392 $ 258,347 $ 283,423 $ 320,772 $ 336,979 Less: Goodwill 13,078 14,089 14,089 14,089 27,288 27
Slide 17: Important Statements (cont.)
Important Statements (cont.) 17 For the six months ended Dollars in thousands, except per share data June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 Dec. 31, 2022 Net income $ 20,929 $ 28,904 $ 27,545 $ 47,180 $ 47,169 $ 21,267 Non-core (income) and expense items: Net interest
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