Southern Missouri Bancorp, Inc. · NASDAQ:SMBC
Southern Missouri Bancorp — Investor Presentation (September 2024)
22 slides from Southern Missouri Bancorp's investor presentation, Sep 18, 2024
Slide 1: Southern Missouri Bancorp Investor Presentation, September 18, 2024
Member FDIC | Equal Housing Lender NASDAQ: SMBC September 18, 2024
Slide 2: 66 locations serving 52 communities in 4 states
66 locations serving 52 COMMUNITIES in 4 States St. Louis Kansas City Springfield Poplar Bluff Cape Girardeau Jonesboro
Slide 3: Why Southern Bank?
Why Southern Bank? We see people working to seize opportunities, build communities, and achieve their dreams right in their hometowns. And we want to keep it that way. That's why we provide services, resources, and tools that help you accomplish what you want, where you want. Southern Missouri Banco
Slide 4: What sets us apart? Our communities, our people
Arnold/Oakville team members participated in and worked the booth at last year’s Keene Insurance Group Golf Tournament Smithville team members participated in Smithville School District’s staff vendor fair. Cape Girardeau team members attended United Way’s ribbon cutting. What sets us apart? OUR COM
Slide 5: Southern Bank Services
Southern Bank Services RETAIL OFFERINGS BUSINESS OFFERINGS Southern Bank provides commercial loans, deposit accounts, and treasury management services for streamlined business operations, including: ACH Origination (Credit/Debit) Positive Pay (Check/ACH Fraud Prevention) Remote Deposit Capture Wire
Slide 6: Financial Services: Wealth, Insurance, Trust, Employee Benefits
SOUTHERN WEALTH MANAGEMENT • Financial Planning • Retirement Planning • Investments INSURANCE BROKERAGE • Personal: Homeowners, Auto, Life, Medical, and more • Commercial: Property, Liability, Workers’ Comp, and Commercial Truck Liability TRUST MANAGEMENT •Trust Administration •Enforcement/Enactment
Slide 7: The Company is a Proven Acquiror
The Company is a Proven Acquiror 10 YEAR HISTORY OF SUCCESSFUL ACQUISITIONS • January 20, 2023, acquired Citizens Bancshares, Co., and its subsidiary, Citizens Bank & Trust Company (“Citizens”) • February 25, 2022, acquired Fortune Financial, Inc., and its subsidiary FortuneBank (“Fortune”) • Decemb
Slide 8: Fiscal 2024 Highlights
Fiscal 2024 Highlights FULL YEAR 2024 • Successful Integration of Citizens - total assets of $985.7 million, loans, net of $456.0 million, and deposits of $851.0 million • Bond portfolio restructuring to improve forward earnings • Tangible book value per share was $36.68 and increased by $4.34 or 13
Slide 9: Profitability and Earnings History
1.18% 1.79% 1.59% 1.03% 1.10% 0.00% 0.50% 1.00% 1.50% 2.00% FY2020 FY2021 FY2022 FY2023 FY2024 Return on Average Assets 11.1% 17.7% 15.4% 10.4% 10.7% 0.0% 5.0% 10.0% 15.0% 20.0% FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Return on Average Common Equity $2.94 $5.05 $5.34 $4.49 $4.04 $2.99 $5.22 $5.21 $3
Slide 10: Financial Data
$80,136 $92,686 $103,567 $126,745 $139,483 3.64% 3.69% 3.66% 3.43% 3.14% 3.72% 3.77% 3.72% 3.54% 3.27% 0.00% 2.00% 4.00% 6.00% 8.00% $0 $50,000 $100,000 $150,000 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Net Interest Income, Net Interest Margin, and Core Net Interest Margin* Net Interest Income Core N
Slide 11: Credit Quality Performance
0.40% 0.26% 0.15% 0.21% 0.17% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 2020 2021 2022 2023 2024 NPLs/Loans 1.16% 1.49% 1.22% 1.32% 1.36% 0.00% 0.50% 1.00% 1.50% 2.00% 2020 2021 2022 2023 2024 Reserves/Gross Loans 224% 409% 526% 424% 497% 0% 100% 200% 300% 400% 500% 600% 2020 2021 2022 2023 2024 Reserves/
Slide 12: Loan Growth
$2,171 $2,237 $2,720 $3,619 $3,850 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Consumer & Other Agricultural Operating & Equip. Commercial Business Construction R/E (balances funded) Agricultural R/E Commercial R/E Residential R/E Data is as of fiscal years ended June 30. Residential real estate include
Slide 13: Loan Portfolio Composition
Residential R/E, 26.4% Commercial R/E, 35.3% Agricultural R/E, 9.8% Construction R/E, 4.3% Commercial Business, 14.0% Agricultural Operating & Equip., 5.1% Consumer and Other, 5.2% Residential R/E, 30.8% Commercial R/E, 36.1% Agricultural R/E, 6.0% Construction R/E, 6.0% Commercial Business, 12.8% A
Slide 14: Deposit Growth
$2,185 $2,331 $2,815 $3,726 $3,953 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Noninterest-bearing Transaction Accounts Interest-bearing Transaction Accounts Money Market Deposit Accounts Savings Accounts Certificates < $250,000 Brokered Certificates (not reciprocal) Certificates > $250,000 Deposits at
Slide 15: Deposit Portfolio Composition
CDs >= $250,000, 6.8% Brokered CDs, 2.4% CDs < $250,000, 26.7% Savings, 8.9% MMDAs, 9.9% NOW, 33.8% Noninterest, 11.6% CDs >= $250,000, 12.3% Brokered CDs, 4.3% CDs < $250,000, 17.4% Savings, 13.1% MMDAs, 8.5% NOW, 31.4% Noninterest, 13.0% Deposits as of June 30, 2019 Deposits as of June 30, 2024 De
Slide 16: Dividends per Common Share and Tangible Book Value per Common Share
$0.52 $0.60 $0.62 $0.80 $0.84 $0.84 1.49% 2.47% 1.38% 1.77% 2.18% 1.87% 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 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Dividends per Common Share Annualized Dividend Yield $26.00 $29.55 $31.05 $32.
Slide 17: Stock Performance – Five Year Total Return
Data is as of Sept. 16, 2024 Source: S&P Global Market Intelligence Stock Performance – Five Year Total Return
Slide 18: Forward Looking 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 limitation, statements wit
Slide 19: Forward Looking Statements, continued
Forward Looking Statements, continued results of examinations of us by our regulators, including the possibility that our regulators may, among other things, require an increase in our reserve for credit losses on loans or a write-down of assets; the impact of technological changes and an inability
Slide 20: Important Statements
Important Statements Dollars in thousands, except per share data June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024 Common stockholders' equity $ 258,347 $ 283,423 $ 320,772 $ 446,058 $ 488,748 Less: Goodwill 14,089 14,089 27,288 50,773 50,727 Less: Other intangible assets, net 7,
Slide 21: Important Statements
Important Statements Dollars in thousands, except per share data June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024 Net income $ 27,545 $ 47,180 $ 47,169 $ 39,237 $ 50,182 Non-core (income) and expense items: Net interest income resulting from accretion of fair value discount on a
Slide 22: Contact: Executive Officers
Stefan Chkautovich Executive Vice President and Chief Financial Officer gsteffens@bankwithsouthern.com schkautovich@bankwithsouthern.com Matt Funke President and Chief Administrative Officer mfunke@bankwithsouthern.com Greg Steffens Chairman and Chief Executive Officer
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