Southern Missouri Bancorp, Inc. · NASDAQ:SMBC
Southern Missouri Bancorp — Investor Presentation (November 2021)
18 slides from Southern Missouri Bancorp's investor presentation, Nov 10, 2021
Slide 1: November 11, 2021
NASDAQ: SMBC November 11, 2021
Slide 2: Important Statements: Forward Looking 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 3: 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 4: Important Statements (cont.)
Important Statements (cont.) 4 Dollars in thousands, except per share data June 30, 2017 June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 Sep. 30, 2021 Common stockholders' equity 173,083 $ 200,694 $ 238,392 $ 258,347 $ 283,423 $ 293,260 $ Less: Goodwill 8,631 13,078 14,089 14,089 14,089 14,0
Slide 5: Important Statements (cont.)
Important Statements (cont.) 5 For the three months ended Dollars in thousands, except per share data June 30, 2017 June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 Sep. 30, 2021 Net income 15,552 $ 20,929 $ 28,904 $ 27,545 $ 47,180 $ 12,746 $ Non-core (income) and expense items: Net interest
Slide 6: Company Overview
Company Overview Headquartered in Poplar Bluff, MO, with locations across southern Missouri, in northeast and north- central Arkansas, and in southern Illinois. $2.7 billion in assets as of September 30, 2021. Loans, net, totaled $2.2 billion; deposits were $2.4 billion; stockholders’ equity totaled
Slide 7: Company Overview (cont.)
Company Overview (cont.) In September 2021, the Company announced a merger with Fortune Financial, Inc., parent of FortuneBank, with two branches in Jefferson and St. Louis Counties, Missouri, both located within the St. Louis, Missouri, MSA. At June 30, 2021, Fortune’s consolidated assets were $254
Slide 8: Branch Map
Branch Map Southern Bank operates 50 banking facilities across southern Missouri, northeast and north-central Arkansas, and southern Illinois. The Fortune acquisition will add two facilities, and the Cairo branch acquisition will result in a branch consolidation. 8
Slide 9: Profitability and Earnings History
Profitability and Earnings History 1.05% 1.17% 1.38% 1.18% 1.79% 1.87% FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 11.7% 11.3% 13.1% 11.1% 17.7% 17.7% FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 Return on average common equity $2.00 $2.29 $2.97 $2.94 $5.05 $1.40 $2.07 $2.39 $3.14 $2.99 $
Slide 10: Earnings Components
Earnings Components Net interest income, NIM, and core NIM* (dollars in thousands) $51,122 $62,383 $72,782 $80,136 $92,686 $25,638 3.74% 3.78% 3.78% 3.72% 3.77% 4.01% 3.64% 3.64% 3.63% 3.64% 3.69% 3.95% 3.50% 3.75% 4.00% 4.25% $0 $20,000 $40,000 $60,000 $80,000 $100,000 FY 2017 FY 2018 FY 2019 FY 20
Slide 11: Credit Quality Performance
Credit Quality Performance 0.23% 0.58% 1.13% 0.40% 0.26% 0.27% 0.00% 0.50% 1.00% 1.50% FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 1.10% 1.15% 1.07% 1.16% 1.49% 1.43% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 246% 139% 80% 224% 409% 388%
Slide 12: Loan Growth
Loan Growth Loan portfolio, at period end (gross loans, excluding loans in process and deferred loan fees; dollars in millions) $1,413 $1,582 $1,866 $2,171 $2,237 $2,283 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 Consumer & Other Agricultural Operating & Equip. Commercial Business Constructio
Slide 13: Loan Portfolio Composition
Loan Portfolio Composition Residential R/E, 33.4% Commercial R/E, 31.3% Agricultural R/E, 8.1% Construction R/E, 5.6% Commercial Business, 12.5% Agricultural Operating & Equip., 5.5% Consumer and Other, 3.5% Residential R/E, 31.3% Commercial R/E, 32.8% Agricultural R/E, 9.9% Construction R/E, 4.0% C
Slide 14: Deposit Growth
Deposit Growth Deposits, at period end (dollars in millions) Data is for the fiscal years ended June 30, except for FYTD 2022, which is as of and for the three-month period ended September 30, 2021. Acquisitions over this time period included the following deposit balances assumed, noted at fair val
Slide 15: Deposit Portfolio Composition
Deposit Portfolio Composition CDs >= $250,000, 4.6% Brokered CDs (not reciprocal), 5.2% CDs < $250,000, 27.0% Savings, 10.1% MMDAs, 7.3% NOW, 32.9% Noninterest, 12.8% Deposits, as of September 30, 2021 Deposits, as of June 30, 2017 CDs >= $250,000, 5.2% Brokered CDs (not reciprocal), 0.2% CDs < $250
Slide 16: COVID-19 Deferrals & Modifications
COVID-19 Deferrals & Modifications 16 The Company has adopted treatment allowed under the CARES Act and subsequent legislation to not report as TDRs certain loans that were otherwise current and performing prior to the COVID-19 pandemic, but for which borrowers experienced or expected financial diff
Slide 17: Stock Valuation
Stock Valuation $0.40 $0.44 $0.52 $0.60 $0.62 $0.20 1.24% 1.13% 1.49% 2.47% 1.38% 1.78% 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 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FYTD 2022 Dividends per Common Share Annualized Dividend Yield Dividends per commo
Slide 18: Stock Performance – Five Year Total Return
Stock Performance – Five Year Total Return Data is as of November 8, 2021, when our closing stock price was $59.80. Three-year total returns are: SMBC, 88.1%; S&P US BMI Banks, 48.3%; S&P 500, 78.3%; Russell 2000, 63.8%. One-year total returns are: SMBC, 132.9%; S&P US BMI Banks, 61.0%; S&P 500, 34.
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