Form 8-K

8-K — SOUTHERN MISSOURI BANCORP, INC.

Accession: 0001104659-26-085879

Filed: 2026-07-22

Period: 2026-07-21

CIK: 0000916907

SIC: 6036 (SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — smbc-20260721x8k.htm (Primary)

EX-99.1 (smbc-20260721xex99d1.htm)

GRAPHIC (smbc-20260721xex99d1002.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: smbc-20260721x8k.htm · Sequence: 1

SOUTHERN MISSOURI BANCORP, INC._July 21, 2026

0000916907false00009169072026-07-212026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

July 21, 2026

SOUTHERN MISSOURI BANCORP, INC.

(Exact name of registrant as specified in its charter)

Missouri

000-23406

43-1665523

(State or other

(Commission File No.)

(IRS Employer

jurisdiction of incorporation)

Identification Number)

2991 Oak Grove Road, Poplar Bluff, Missouri

63901

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:

(573) 778-1800

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

SMBC

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as deﬁned in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised ﬁnancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition

On July 21, 2026, Southern Missouri Bancorp, Inc., the parent corporation of Southern Bank, issued a press release announcing preliminary fourth quarter of fiscal 2026 results, its quarterly dividend of $0.27 per common share, and the timing and other information regarding its investor conference call. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 8.01 Other Events

On July 21, 2026, the Board of Directors of Southern Missouri Bancorp, Inc. (the “Company”) declared its 129th consecutive quarterly dividend on common stock since the inception of the Company. The dividend of $0.27 per common share will be payable on August 31, 2026, to stockholders of record at the close of business on August 14, 2026.

In other matters, the Company will host a conference call to discuss the release on July 23, 2026, at 9:30 a.m., central time. The call will be available live to interested parties by calling (toll free) 1-800-715-9871 in the United States. Participants should use participant access code 3159664. Telephone playback will be available beginning one hour following the conclusion of the call through July 28, 2026. The playback may be accessed by dialing 1-800-770-2030 in the United States and using the conference passcode 3159664.

Item 9.01Financial Statements and Exhibits

(d)Exhibits

99.1

Press release dated July 22, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SOUTHERN MISSOURI BANCORP, INC.

Date: July 22, 2026

By:

/s/ Matthew T. Funke

Matthew T. Funke

President and Chief Administrative Officer

EX-99.1

Filename: smbc-20260721xex99d1.htm · Sequence: 2

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact: Stefan Chkautovich, CFO

July 22, 2026

(573) 778-1800

SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FOURTH QUARTER OF FISCAL 2026;

DECLARES QUARTERLY DIVIDEND OF $0.27 PER COMMON SHARE;

CONFERENCE CALL SCHEDULED FOR THURSDAY, JULY 23, AT 9:30 AM CENTRAL TIME

Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the fourth quarter of fiscal 2026 of $20.3 million, an increase of $4.5 million or 28.5%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to higher net interest income, lower provision for income taxes, a decrease in noninterest expense, and an increase in noninterest income, partially offset by higher provision for credit losses (PCL). Preliminary net income was $1.83 per fully diluted common share for the fourth quarter of fiscal 2026, an increase of $0.44 as compared to the $1.39 per fully diluted common share reported for the same period of the prior fiscal year. For the full fiscal year 2026, preliminary net income was $71.8 million, an increase of $13.3 million, or 22.6%, when compared to fiscal year 2025, while diluted earnings per share for fiscal year 2026 were $6.43, an increase of $1.25, or 24.1%, as compared to fiscal year 2025.

Highlights for the fourth quarter of fiscal 2026:

● Earnings per common share (diluted) were $1.83, up $0.44, or 31.7%, as compared to the same quarter a year ago, and up $0.23, or 14.4%, from the third quarter of fiscal 2026, the linked quarter.

● Annualized return on average assets (ROA) was 1.57%, while annualized return on average common equity (ROE) was 14.0%, as compared to 1.27% and 11.8%, respectively, in the same quarter a year ago, and 1.41% and 12.6%, respectively, in the third quarter of fiscal 2026, the linked quarter.

● Net interest margin for the quarter was 3.67%, up from 3.47% reported for the year ago period, and unchanged from the third quarter of fiscal 2026, the linked quarter. Net interest income increased $4.1 million, or 10.1%, as compared to the same quarter a year ago, and increased $1.3 million, or 2.9%, as compared to the third quarter of fiscal 2026, the linked quarter. Net interest income in the fourth quarter of fiscal 2026 included a $603,000 reversal of accrued interest related to an agricultural production relationship placed on nonaccrual status, reducing net interest margin by approximately five basis points.

● PCL was $3.2 million during the fourth quarter of fiscal 2026, a $694,000 increase from the year ago period and a $1.1 million increase from the third quarter of fiscal 2026, the linked quarter. The increase was primarily driven by higher net charge-offs, higher reserves required for pooled loans driven largely by the Bank’s annual ACL model update, and to support loan growth. See “Balance Sheet Summary” below for more detailed information regarding nonperforming loans and allowance for credit losses (ACL).

● Gross loan balances increased by $69.4 million during the fourth quarter, and increased by $291.2 million, or 7.1%, for the full fiscal year 2026.

● Deposit balances increased by $66.9 million during the fourth quarter, and increased by $126.5 million, or 3.0%, for the full fiscal year 2026.

● Tangible book value per share was $47.43, having increased by $5.56, or 13.3%, as compared to June 30, 2025.

● The Company repurchased 4,000 shares of its common stock in the fourth quarter of fiscal 2026 at an average price of $69.10 per share, for a total of $291,000. For the full fiscal year 2026, the Company repurchased 317,000 shares of its common stock at an average price of $58.59 per share, for a total of $18.6 million. The average purchase price of shares purchased in fiscal 2026 was 124% of tangible book value as of June 30, 2026.

Dividend Declared:

The Board of Directors, on July 21, 2026, declared a quarterly cash dividend on common stock of $0.27 per share, payable August 31, 2026, to stockholders of record at the close of business on August 14, 2026, marking the 129th consecutive quarterly dividend since the inception of the Company. The dividend represents an increase of $0.02 per share, or 8.0%, as compared to the previous quarterly dividend payment. The Board of Directors and management believe the payment of a quarterly cash dividend enhances stockholder value and demonstrates our commitment to and confidence in our future prospects.

Conference Call:

The Company will host a conference call to review the information provided in this press release on Thursday, July 23, 2026, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-800-715-9871 in the United States and from all other locations by calling 1-646-307-1963. Participants should use participant access code 3159664. Telephone playback will be available beginning one hour following the conclusion of the call through July 28, 2026. The playback may be accessed by dialing 1-800-770-2030 in the United States and Canada, and using the conference passcode 3159664.

Balance Sheet Summary:

The Company experienced balance sheet growth in fiscal 2026, with total assets of $5.2 billion at June 30, 2026, reflecting an increase of $215.3 million, or 4.3%, as compared to June 30, 2025. Growth primarily reflected increases in net loans receivable and investments in tax credits in the other assets category, partially offset by decreases in cash equivalents and time deposits and available for sale (AFS) securities.

Cash equivalents and time deposits were $91.0 million at June 30, 2026, a decrease of $102.1 million, or 52.9%, as compared to June 30, 2025. The decrease was primarily the result of loan generation that outpaced deposit growth during the period, which was partially offset by earnings retention after cash dividends paid. AFS securities were $450.8 million at June 30, 2026, down $10.1 million, or 2.2%, as compared to June 30, 2025.

Loans, net of the ACL, were $4.3 billion at June 30, 2026, an increase of $287.9 million, or 7.1%, as compared to June 30, 2025. Gross loan balances increased by $291.2 million, or 7.1%, while the ACL attributable to outstanding loan balances increased $3.3 million, or 6.4%, as compared to June 30, 2025. The Company noted growth primarily in 1-4 family residential real estate, agriculture real estate, multi-family real estate, commercial and industrial, non-owner occupied commercial real estate, owner occupied commercial real estate, and agriculture production loan balances. This was partially offset by decreases in construction and land

development, and consumer loan balances. The table below illustrates changes in loan balances by type over recent periods:

Summary Loan Data as of:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands)

2026

2025

1-4 Family residential real estate

1,085,512

1,063,006

1,043,090

1,021,300

992,445

Non-owner occupied commercial real estate

924,144

945,274

912,611

918,275

888,317

Owner occupied commercial real estate

471,990

476,994

460,064

454,265

442,984

Multi-family real estate

469,968

467,936

452,733

445,953

422,758

Construction and land development

310,006

279,943

298,412

283,912

332,405

Agriculture real estate

295,803

278,541

261,118

255,610

244,983

Total loans secured by real estate

3,557,423

3,511,694

3,428,028

3,379,315

3,323,892

Commercial and industrial

552,557

546,002

537,276

521,945

510,259

Agriculture production

219,155

204,447

202,892

229,338

206,128

Consumer

53,144

51,869

52,182

56,051

55,387

All other loans

9,529

8,348

6,178

5,094

5,102

Total loans

4,391,808

4,322,360

4,226,556

4,191,743

4,100,768

Deferred loan fees, net

—

(178)

Gross loans

4,391,808

4,322,360

4,226,556

4,191,743

4,100,590

Allowance for credit losses

(54,912)

(55,937)

(54,465)

(52,081)

(51,629)

Net loans

4,336,896

4,266,423

4,172,091

4,139,662

4,048,961

Loans anticipated to fund in the next 90 days totaled $181.7 million at June 30, 2026, as compared to $177.7 million at March 31, 2026, and $224.1 million at June 30, 2025.

The Bank’s concentration in non-owner occupied commercial real estate loans, as defined by banking regulatory guidance and including multi-family and construction and land development loans, is estimated at 287.7% of Tier 1 capital and ACL at June 30, 2026, as compared to 301.9% as of June 30, 2025. These loans represented 38.8% of gross loans at June 30, 2026. The largest component of this concentration is non-owner occupied commercial real estate, which is primarily comprised of loans secured by hospitality (hotels and restaurants), care facilities, strip centers, retail stand-alone properties, and storage units. Within this portfolio, the hospitality and retail stand-alone segments consist primarily of franchised businesses; care facilities consist mainly of skilled nursing and assisted living centers; and strip centers are generally non-mall shopping centers with a variety of tenants. The Bank’s multi-family real estate loan portfolio commonly includes loans secured by properties currently participating in the low-income housing tax credit (LIHTC) program or that have exited the program. The largest component of the construction and land development portfolio is commercial construction, consisting primarily of loans collateralized by multi-family real estate and industrial warehouse developments. The Company continues to monitor its commercial real estate concentration and each of its individual segments closely.

Nonperforming loans (NPLs) were $27.7 million, or 0.63% of gross loans, at June 30, 2026, as compared to $23.0 million, or 0.56% of gross loans, at June 30, 2025. Nonperforming assets (NPAs) were $33.5 million, or 0.64% of total assets, at June 30, 2026, as compared to $23.7 million, or 0.47% of total assets, at June 30, 2025. The rise in NPAs reflects an increase in NPLs and other real estate owned (OREO), partially offset by net charge-offs. The year-over-year increase in NPLs was primarily attributable to three borrower relationships: one commercial relationship consisting of multiple related loans collateralized by commercial real estate and equipment; one consisting of two related agricultural production loans secured by crops and equipment; and the other, which was added during the quarter ended June 30, 2026, consisting of several related agricultural production loans secured by crop insurance claims, restricted cash, crops, and equipment. The increase in OREO was primarily due to the foreclosure of a previously reported nonaccrual commercial loan relationship consisting of multiple loans collateralized by commercial real estate and equipment.

The ACL at June 30, 2026, totaled $54.9 million, representing 1.25% of gross loans and 199% of nonperforming loans, as compared to an ACL of $51.6 million, representing 1.26% of gross loans and 224% of nonperforming loans, at June 30, 2025. The Company has estimated its expected credit losses as of June 30, 2026, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. Economic uncertainty remains, including the potential effects of elevated and uncertain interest rates, as inflation remains above the Federal Reserve's long-term target, and evolving labor market and broader economic conditions. The increase in the ACL was primarily attributable to higher reserves required for pooled loans, driven largely by the Bank’s annual ACL model update, which reflected an increase in modeled loss drivers compared to the prior assessment as of June 30, 2025, and increased reserves on agriculture loans reflecting ongoing pressure in the agricultural sector. Additional reserves were also required to support loan growth. This was partially offset by net charge-offs. As a percentage of average loans outstanding, the Company recorded net charge-offs of 0.40% (annualized) during the current quarter, as compared to net charge-offs of 0.53% for the same quarter of the prior fiscal year. In the three-month period ended June 30, 2026, net charge offs were $4.3 million due primarily to a $2.6 million partial charge-off of the agricultural production loan relationship noted above which was placed on nonaccrual status during the quarter and a previously identified nonperforming commercial loan relationship that was transferred to OREO following foreclosure resulting in a charge off of $1.2 million. For fiscal year 2026, net charge-offs as a percentage of average loans were 0.18%, as compared to 0.17% for fiscal year 2025.

Total liabilities were $4.6 billion at June 30, 2026, an increase of $169.3 million, or 3.8%, as compared to June 30, 2025. Growth primarily reflected increases in total deposits, FHLB advances, and other liabilities which increased due to future capital contributions related to tax credit investments. This was partially offset by a $7.5 million decrease in subordinated debentures, as the Company retired debt that became callable during the three-month period ended June 30, 2026.

Deposits were $4.4 billion at June 30, 2026, an increase of $126.5 million, or 3.0%, as compared to June 30, 2025. Certificate of deposit growth was relatively balanced between brokered and non-brokered deposits. Nonmaturity deposit growth was primarily attributable to increases in non-interest bearing deposits, savings accounts, and brokered money market deposit accounts, partially offset by declines in NOW accounts and non-brokered money market deposit accounts. Public unit balances totaled $517.8 million at June 30, 2026, a decrease of $33.0 million compared to June 30, 2025, primarily due to competitive pricing dynamics on certain time deposits and normal fluctuations in operating account balances. Brokered deposits totaled $290.6 million at June 30, 2026, an increase of $55.6 million as compared to June 30, 2025, primarily attributable to brokered certificates of deposit. The average loan-to-deposit ratio for the fourth quarter of fiscal 2026 was 99.7%, as compared to 94.5% for the same period of the prior fiscal year. The table below illustrates changes in deposit balances by type over recent periods:

Summary Deposit Data as of:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands)

2026

2025

Non-interest bearing deposits

560,704

528,601

526,569

501,885

508,110

NOW accounts

1,074,489

1,153,078

1,167,626

1,098,921

1,132,298

MMDAs - non-brokered

314,350

305,903

309,806

326,387

329,837

Brokered MMDAs

10,654

21,073

10,817

28,129

1,414

Savings accounts

707,482

718,199

701,553

715,406

661,115

Total nonmaturity deposits

2,667,679

2,726,854

2,716,371

2,670,728

2,632,774

Certificates of deposit - non-brokered

1,460,172

1,408,723

1,412,394

1,409,332

1,414,945

Brokered certificates of deposit

279,995

205,338

179,569

200,430

233,649

Total certificates of deposit

1,740,167

1,614,061

1,591,963

1,609,762

1,648,594

Total deposits

4,407,846

4,340,915

4,308,334

4,280,490

4,281,368

Public unit nonmaturity accounts

420,047

471,659

490,060

424,391

435,632

Public unit certificates of deposit

97,787

93,061

94,039

112,963

115,204

Total public unit deposits

517,834

564,720

584,099

537,354

550,836

FHLB advances were $130.4 million at June 30, 2026, an increase of $26.4 million, or 25.3%, as compared to June 30, 2025. Outstanding FHLB daily reset borrowings were $28.4 million as of June 30, 2026, as compared to none outstanding as of June 30, 2025.

The Company’s stockholders’ equity was $590.7 million at June 30, 2026, an increase of $46.0 million, or 8.4%, as compared to June 30, 2025. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $1.6 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to tighter credit spreads and continued principal paydowns within the investment portfolio. The AOCL totaled $9.8 million at June 30, 2026, as compared to $11.4 million at June 30, 2025. The Company does not hold any securities classified as held-to-maturity. The increase in stockholders’ equity was partially offset by $18.6 million utilized to repurchase 317,000 shares of the Company’s common stock during fiscal 2026 at an average price of $58.59 per share.

Quarterly Income Statement Summary:

The Company’s net interest income for the three-month period ended June 30, 2026, was $44.4 million, an increase of $4.1 million, or 10.1%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase of 20 basis points in the net interest margin, from 3.47% to 3.67%, coupled with a 4.0% increase in the average balance of interest-earning assets in the current three-month period compared to the same period a year ago. The primary driver of the net interest margin expansion, compared to the year ago period, was a decrease in the cost of interest-bearing liabilities of 29 basis points, partially offset by a decrease of six basis points in the yield on interest-earning assets.

Loan discount accretion and liability premium amortization related to the November 2018 acquisition of First Commercial Bank, the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2024 acquisition of Citizens Bank & Trust resulted in $395,000 in net interest income for the three-month period ended June 30, 2026, as compared to $600,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed three basis points to net interest margin in the three-month period ended June 30, 2026, as compared to a five-basis point contribution for the same period of the prior fiscal year, and as compared to a three-basis point contribution in the linked quarter, ended March 31, 2026, when net interest margin was 3.67%.

The Company recorded a PCL of $3.2 million in the three-month period ended June 30, 2026, as compared to a PCL of $2.5 million in the same period of the prior fiscal year. The current period PCL was the result of a $3.3 million provision attributable to the ACL for outstanding loan balances and a $111,000 negative provision attributable to the allowance for off-balance sheet credit exposures, primarily reflecting changes in the composition of unfunded loan commitments. The factors considered when estimating a required ACL and PCL for loan balances outstanding are detailed above in the “Balance Sheet Summary”.

The Company’s noninterest income for the three-month period ended June 30, 2026, was $7.4 million, an increase of $78,000, or 1.1%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase in earnings on bank owned life insurance (BOLI), wealth management fees, deposit account charges and related fees, and net realized gains on sale of loans. The increase in earnings on BOLI was mainly attributable to a mortality benefit of $231,000 recognized in the fourth quarter of 2026. Wealth management fees benefited from revenue growth at both Southern Financial Advisors and Southern Wealth Trust Services, primarily driven by market appreciation and the resulting increase in assets under management. Deposit account charges and related fees benefited from increased frequency of charges for non-sufficient funds and increased wire fee income from an increase of our wire fee rates and elevated wire activity. Lastly, the increase in gain on sale of loans was primarily attributable to gain on sale of SBA loans. These increases were partially offset by a decrease in other loan fees, reflecting a refinement of our fee recognition under ASC 310-20,

Receivables – Nonrefundable Fees and Other Costs, with a greater portion now recognized in interest income over the life of the loan.

Noninterest expense for the three-month period ended June 30, 2026, was $25.5 million, a decrease of $431,000, or 1.7%, as compared to the same period of the prior fiscal year. The decrease as compared to the year-ago period was primarily attributable to decreases in legal and professional fees, intangible amortization, deposit insurance premiums, and other noninterest expenses. The decrease in legal and professional fees was primarily due to $425,000 of consulting costs incurred in the prior-year period in connection with negotiating a new contract with a significant vendor that did not reoccur in the current period. The decrease in intangible amortization expense was attributable to a core deposit intangible that was fully amortized in the second quarter of fiscal 2026 from a previous merger. The Company also benefited from lower deposit insurance premiums, primarily reflecting improvements in the financial metrics used to determine assessment rates. Lastly, other noninterest expense decreased largely due to loan product expense associated with expenses for loan collection and lending activities. These decreases when compared to the prior year period were partially offset by increases in compensation and benefits, primarily due to annual merit increases, as well as a trend increase in team member headcount.

The efficiency ratio for the three-month period ended June 30, 2026, was 49.3%, as compared to 54.6% in the same period of the prior fiscal year. The improvement was attributable to increases in net interest income and noninterest income, and a decline in operating expenses.

The income tax provision was $2.7 million for the three-month period ended June 30, 2026, a decrease of 18.0% as compared to the same period of the prior fiscal year. The effective tax rate for the fourth quarter of fiscal year 2026 was 11.9%, as compared to 17.5% in the same period of the prior fiscal year. The decrease in the effective tax rate was primarily attributable to a $1.7 million income tax benefit recognized from tax credit investments. In the same period of the prior fiscal year, the Company recognized a $701,000 benefit from tax credit investments.

Forward-Looking Information:

Except for the historical information contained herein, the matters discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from the forward-looking statements, including: expected cost savings, synergies and other benefits from our merger and acquisition activities, might not be realized within the anticipated time frames, to the extent anticipated, 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 and goodwill impairment charges might be incurred; potential adverse impacts to economic conditions both nationally and in our local market areas and other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; the strength of the United States economy in general and the strength of the local economies in which we conduct operations; fluctuations in interest rates and inflation, including the effects of a potential recession whether caused by Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) actions or otherwise or slowed economic growth caused by changes in oil prices or supply chain disruptions; the impact of monetary and fiscal policies of the Federal Reserve Board and the U.S. Government or other governmental initiatives affecting the financial services industry; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the ACL on loans; our ability to access cost-effective funding and maintain sufficient liquidity; the timely development of and acceptance of new products and services and the perceived overall value of these

products and services by users, including the features, pricing and quality compared to competitors’ products and services; fluctuations in real estate values in both residential and commercial real estate markets, as well as agricultural business conditions; fluctuations in the demand for loans and deposits, including our ability to attract and retain deposits; the impact of a federal government shutdown; legislative or regulatory changes that adversely affect our business; the effects of climate change, severe weather events, other natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates; changes in accounting principles, policies, or guidelines; results of examinations of us by our regulators, including the impact on FDIC insurance premiums and 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 to keep pace with the rate of technological advances; the inability of key third party providers to perform their obligations to us; cyber threats, such as phishing, ransomware, and insider attacks, which can lead to financial loss, reputational damage, and regulatory penalties if sensitive customer data and critical infrastructure are not adequately protected; our ability to retain key members of our management team; and our success at managing the risks involved in the foregoing. Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements.

Non-GAAP Financial Measures:

Tangible common equity and tangible book value per common share are financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental and are not intended to be a substitute for analyses based on GAAP measures. As other companies may utilize different methodologies for calculating these measures, this presentation may not be comparable to similarly titled measures used by other institutions.

Tangible common equity is calculated by excluding intangible assets from common stockholders’ equity. Tangible book value per common share is calculated by dividing tangible common equity by common shares outstanding, less restricted common shares not vested. For comparison, book value per common share is calculated by dividing common stockholders’ equity by common shares outstanding, less restricted common shares not vested. This approach is consistent with the treatment applied by bank regulatory agencies, which generally exclude intangible assets from the calculation of risk-based capital ratios.

Each of these non-GAAP financial measures provides information considered important to investors and is useful in understanding the Company’s capital position. Calculations of tangible common equity and tangible book value per common share to the corresponding GAAP measures of common stockholders’ equity and book value per common share are presented below.

Southern Missouri Bancorp, Inc.

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Summary Balance Sheet Data as of:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands, except per share data)

2026

2025

Cash equivalents and time deposits

90,966

93,286

134,309

124,358

193,105

Available for sale (AFS) securities

450,775

439,115

444,965

453,855

460,844

FHLB/FRB membership stock

20,111

18,863

18,552

18,489

18,500

Loans held for sale

1,787

1,033

1,271

277

431

Loans receivable, gross

4,391,808

4,322,360

4,226,556

4,191,743

4,100,590

Allowance for credit losses

54,912

55,937

54,465

52,081

51,629

Loans receivable, net

4,336,896

4,266,423

4,172,091

4,139,662

4,048,961

Bank-owned life insurance

77,117

77,155

76,793

76,240

75,691

Intangible assets

70,620

71,329

72,049

72,866

73,721

Premises and equipment

93,191

93,366

94,560

95,211

95,982

Other assets

93,438

80,894

79,797

55,374

52,372

Total assets

5,234,901

5,141,464

5,094,387

5,036,332

5,019,607

Interest-bearing deposits

3,847,142

3,812,314

3,781,765

3,778,605

3,773,258

Noninterest-bearing deposits

560,704

528,601

526,569

501,885

508,110

Securities sold under agreements to repurchase

20,000

15,000

FHLB advances

130,424

105,033

102,041

102,029

104,052

Other liabilities

70,187

78,758

73,417

50,371

51,287

Subordinated debt

15,766

23,248

23,235

23,221

23,208

Total liabilities

4,644,223

4,567,954

4,527,027

4,476,111

4,474,915

Total stockholders’ equity

590,678

573,510

567,360

560,221

544,692

Total liabilities and stockholders’ equity

5,234,901

5,141,464

5,094,387

5,036,332

5,019,607

Equity to assets ratio

11.28

11.15

11.14

11.12

10.85

Common shares outstanding

11,011,109

11,015,112

11,142,733

11,290,667

11,299,467

Less: Restricted common shares not vested

46,740

50,525

49,075

48,675

50,163

Common shares for book value determination

10,964,369

10,964,587

11,093,658

11,241,992

11,249,304

Book value per common share

53.87

52.31

51.14

49.83

48.42

Less: Intangible assets per common share

6.44

6.51

6.49

6.48

6.55

Tangible book value per common share (1)

47.43

45.80

44.65

43.35

41.87

Closing market price

76.21

63.94

59.12

52.56

54.78

(1) Non-GAAP financial measure.

Nonperforming asset data as of:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands)

2026

2025

Nonaccrual loans

27,655

30,135

29,655

26,031

23,040

Accruing loans 90 days or more past due

—

Total nonperforming loans

27,655

30,135

29,655

26,031

23,040

Other real estate owned (OREO)

5,631

1,795

1,536

1,006

625

Personal property repossessed

209

Total nonperforming assets

33,495

31,953

31,196

27,082

23,697

Total nonperforming assets to total assets

0.64

0.62

0.61

0.54

0.47

Total nonperforming loans to gross loans

0.63

0.70

0.62

0.56

Allowance for credit losses to nonperforming loans

198.56

185.62

183.66

200.07

224.08

Allowance for credit losses to gross loans

1.25

1.29

1.24

1.26

Performing modifications to borrowers experiencing financial difficulty

30,989

31,672

32,048

27,072

26,642

For the three-month period ended

Quarterly Summary Income Statement Data:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands, except per share data)

2026

2025

Interest income:

Cash equivalents

430

659

1,059

1,114

1,698

AFS securities and membership stock

4,960

4,902

5,198

5,456

5,586

Loans receivable

67,375

65,398

65,975

66,460

63,354

Total interest income

72,765

70,959

72,232

73,030

70,638

Interest expense:

Deposits

26,398

26,172

27,699

28,940

28,644

Securities sold under agreements to repurchase

202

200

204

200

191

FHLB advances

1,433

1,070

1,080

1,081

1,080

Subordinated debt

325

362

379

391

390

Total interest expense

28,358

27,804

29,362

30,612

30,305

Net interest income

44,407

43,155

42,870

42,418

40,333

Provision for credit losses

3,194

2,080

1,680

4,500

2,500

Noninterest income:

Deposit account charges and related fees

2,356

2,331

2,429

2,365

2,156

Bank card interchange income

1,744

1,592

1,614

1,530

1,839

Loan servicing fees

247

245

250

263

167

Other loan fees

164

194

917

Net realized gains on sale of loans

336

226

167

175

143

Earnings on bank owned life insurance

794

677

552

548

533

Insurance brokerage commissions

414

353

345

319

368

Wealth management fees

1,041

944

936

851

825

Other noninterest income

347

695

319

328

332

Total noninterest income

7,358

7,090

6,776

6,573

7,280

Noninterest expense:

Compensation and benefits

14,130

14,054

13,651

13,065

13,852

Occupancy and equipment, net

3,787

4,040

3,834

3,788

3,745

Data processing expense

2,650

2,770

2,666

2,513

2,573

Telecommunications expense

288

308

309

347

312

Deposit insurance premiums

480

495

600

620

601

Legal and professional fees

633

521

478

1,075

1,165

Advertising

580

553

538

614

551

Postage and office supplies

363

373

333

300

336

Intangible amortization

702

709

808

857

Foreclosed property expenses, net

108

(18)

Other noninterest expense

1,889

2,292

2,022

1,814

2,002

Total noninterest expense

25,545

26,223

25,270

25,051

25,976

Net income before income taxes

23,026

21,942

22,696

19,440

19,137

Income taxes

2,747

4,181

4,546

3,790

3,351

Net income

20,279

17,761

18,150

15,650

15,786

Less: Distributed and undistributed earnings allocated

to participating securities

Net income available to common shareholders

20,193

17,680

18,071

15,583

15,715

Basic earnings per common share

1.84

1.60

1.62

1.39

1.40

Diluted earnings per common share

1.83

1.60

1.62

1.38

1.39

Dividends per common share

0.25

0.23

Average common shares outstanding:

Basic

10,966,000

11,041,000

11,153,000

11,247,000

11,250,000

Diluted

11,009,000

11,075,000

11,179,000

11,272,000

11,270,000

For the three-month period ended

Quarterly Average Balance Sheet Data:

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

June 30,

(dollars in thousands)

2026

2025

Interest-bearing cash equivalents

39,923

68,374

103,156

97,948

151,380

AFS securities and membership stock

473,931

469,515

478,219

493,125

498,491

Loans receivable, gross

4,343,778

4,235,274

4,181,158

4,118,859

4,018,769

Total interest-earning assets

4,857,632

4,773,163

4,762,533

4,709,932

4,668,640

Other assets

336,502

342,334

321,042

302,630

299,217

Total assets

5,194,134

5,115,497

5,083,575

5,012,562

4,967,857

Interest-bearing deposits

3,804,517

3,793,242

3,782,764

3,741,361

3,727,836

Securities sold under agreements to repurchase

20,000

18,043

15,000

FHLB advances

140,095

103,556

102,046

102,410

104,053

Subordinated debt

19,506

23,241

23,228

23,215

23,201

Total interest-bearing liabilities

3,984,118

3,940,039

3,928,038

3,885,029

3,870,090

Noninterest-bearing deposits

553,513

528,820

541,110

533,809

524,860

Other noninterest-bearing liabilities

74,548

74,431

51,411

41,937

37,014

Total liabilities

4,612,179

4,543,290

4,520,559

4,460,775

4,431,964

Total stockholders’ equity

581,955

572,207

563,016

551,787

535,893

Total liabilities and stockholders’ equity

5,194,134

5,115,497

5,083,575

5,012,562

4,967,857

Return on average assets

1.57

1.41

1.42

1.24

1.27

Return on average common stockholders’ equity

14.0

12.6

12.8

11.3

11.8

Net interest margin

3.67

3.57

3.47

Net interest spread

3.16

3.17

3.05

3.02

2.93

Efficiency ratio

49.3

52.2

50.9

51.1

54.6

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Cover

Jul. 21, 2026

Cover [Abstract]

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Document Period End Date

Jul. 21, 2026

Entity Central Index Key

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Entity File Number

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Registrant Name

SOUTHERN MISSOURI BANCORP, INC.

Entity Incorporation, State or Country Code

Tax Identification Number (TIN)

43-1665523

Entity Address, Address Line One

2991 Oak Grove Road

Entity Address, City or Town

Poplar Bluff

Entity Address, State or Province

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City Area Code

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Local Phone Number

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