8-K

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 27, 2006

SOUTHERN MISSOURI BANCORP, INC. (Exact name of Registrant as specified in its Charter)
Missouri (State or other jurisdiction of incorporation)	000-23406(Commission File No.)		43-1665523 (IRS Employer Identification Number)
531 Vine Street, Poplar Bluff, Missouri(Address of principal executive offices)			63901 (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 1 4d-2(b) under the Exchange Act (17 CFR 240.1 4d-2(b))
	Pre-commencement communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR 240.1 3e-4(c))

Next Page

ITEM 2.02	Results of Operations and Financial Condition On July 27, 2006, Southern Missouri Bancorp, Inc. (the "Company"), the parent corporation of Southern Missouri Bank and Trust Co., issued a press release announcing its results for the fourth quarter of fiscal year 2006. A copy of the press release, including unaudited condensed financial information released as a part thereof, is attached as Exhibit 99 to this Current Report on Form 8-K and incorporated by reference herein.
ITEM 9.01	Financial Statements and Exhibits
	(d)	Exhibits
		Exhibit 99 - Press release, dated July 27, 2006
	Forward-Looking Statements When used in this Current Report on Form 8-K and in other reports of the Company filed with or furnished to the Securities and Exchange Commission, in press releases or other public shareholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases "believe," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "plans," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. These statements are based on beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions of management and are not guarantees of future performance. By their nature, these statements are subject to numerous uncertainties that could cause actual results to differ materially from those anticipated in the statements. 2 Next Page Important factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to, the following: (i) further developments in the Company's ongoing review of and efforts to resolve the problem credit relationship described in this report, which could result in, among other things, further downgrades of the aforementioned loans, additional provisions to the loan loss reserve and the incurrence of other material non-cash and cash charges; (ii) the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; (iii) the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; (iv) inflation, interest rate, market and monetary fluctuations; (v) the timely development of and acceptance of the Company's 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; (vi) the willingness of users to substitute the Company's products and services for products and services of the Company's competitors; (vii) the impact of changes in financial services laws and regulations (including laws concerning taxes, banking, securities and insurance); (viii) the impact of technological changes; (ix) acquisitions; (x) changes in consumer spending and saving habits; and (xi) the Company's 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, or otherwise.

3 Next Page




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 thereunto duly authorized.

	SOUTHERN MISSOURI BANCORP, INC.
Date: July 28, 2006	By: /s/ Greg A. SteffensGreg A. Steffens President

4 Next Page








EXHIBIT INDEX

Exhibit No.	Description
99	Press release dated July 27, 2006

5 End

EX-99

FOR IMMEDIATE RELEASE	Contact: Greg Steffens, President
July 27, 2006	(573) 778-1800

SOUTHERN MISSOURI BANCORP REPORTS ON FOURTH QUARTER
AND YEAR END RESULTS

BOARD DECLARES QUARTERLY DIVIDEND OF $.09 PER SHARE

             Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc., ("Company") (NASDAQ: SMBC), the parent corporation of Southern Missouri Bank and Trust Co. ("Bank"), today announced net income for the fourth quarter of fiscal 2006 of $779,000, or $.35 per diluted share, an increase from the loss of $587,000, or $(.26) per diluted share, during the same period of the prior year. The increase in diluted earnings per share was due primarily to the inclusion in the prior period's results of a $2.0 million provision for loan losses, compared to a $270,000 provision in the current period, and was partially offset by the difference between an income tax benefit of $383,000 during the prior period and a $303,000 provision for income taxes in the current period. For fiscal 2006, the bank's net income increased to $2.8 million, or $1.24 per diluted share, an increase from $104,000, or $.05 per diluted share, earned in fiscal 2005. The increase in diluted earnings per share for the fiscal year was also primarily due to loan loss provisions of $4.8 million in the prior year, compared to $555,000 in the current year, offset again by the difference between an $82,000 income tax benefit in the prior year, compared to a provision for income taxes of $1.4 million in the current year.

             The fourth quarter and the fiscal year's results were negatively impacted by the Company's opening of a branch in Sikeston, Missouri, in January of 2006. We estimate that the after-tax impact of operating the branch during the fourth quarter decreased diluted earnings per share by $.02. For the fiscal year, we estimate that the after-tax impact of operating the branch decreased diluted earnings per share by $.05.

             Dividend Declared:

             The Board of Directors and management believe the continuation of a quarterly dividend enhances shareholder value and demonstrates our commitment to and confidence in our future prospects. Therefore, they are pleased to announce the 49th consecutive quarterly dividend since the inception of the Company. The $.09 cash dividend will be paid on August 31, 2006, to shareholders of record at the close of business on August 15, 2006.

             Balance Sheet Summary:

             The Company experienced balance sheet growth, with assets increasing $20.3 million, or 6.2%, to $350.7 million at June 30, 2006, as compared to $330.4 million at June 30, 2005. Growth in assets was primarily reflected in increases in the loan portfolio, the investment portfolio, and cash balances. Asset growth has been funded primarily with deposits.

             Loans, net of allowance for loan losses, as of June 30, 2006, increased $13.4 million, or 5.0%, to $280.9 million, as compared to $267.6 million at June 30, 2005. The increase in the loan portfolio primarily reflects growth in the balances of commercial real estate and commercial loans of $7.2 million and $5.8 million, respectively. Asset quality remains relatively strong with annualized net loan charge-offs for the year totaling .25% of average net loans, compared to 1.85% for fiscal 2005. Non-performing loans totaled $53,000 at June 30, 2006. Our allowance for loan loss at June 30, 2006, totaled $2.1 million, representing ..73% of net loans and 3,889% of non-performing loans.

             The investment portfolio increased $3.7 million, or 10.7%, to $38.4 million at June 30, 2006, as compared to $34.7 million at June 30, 2005, primarily due to a $5.8 million increase in the amount invested in U.S. government and federal agency obligations, partially offset by a $2.8 million decrease in the amounts invested in mortgage-backed securities.

             Total liabilities increased $18.8 million, or 6.2%, to $324.1 million, at June 30, 2006, as compared to $305.4 million at June 30, 2005. Deposits increased $33.4 million, or 14.9%, to $258.1 million at June 30, 2006, as compared to $224.7 million at June 30, 2005. The increase in deposits was primarily due to a $25.7 million increase in certificates of deposit (which resulted from promotional term/rate certificates, including the net purchase of $10.7 million in brokered deposits), an $8.1 million increase in money market passbook accounts, and a $6.0 million increase in checking accounts, partially offset by a $5.7 million decrease in money market deposit accounts. FHLB advances decreased $15.5 million, or 25.2%, to $46.0 million at June 30, 2006, as compared to $61.5 million at June 30, 2005, due primarily to our strategic decision to increase certificate of deposit balances and repay overnight borrowings in a rising rate environment.