Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2012

Notes

Condensed Parent Company Only Financial Statements

NOTE 20: Condensed Parent Company Only Financial Statements

The following condensed balance sheets, statements of income and cash flows for Southern Missouri Bancorp, Inc. should be read in conjunction with the consolidated financial statements and the notes thereto:

	June 30,
Condensed Balance Sheets	2012	2011
Assets
Cash and cash equivalents	$  15,342,647	$ 816,033
Other assets	6,994,591	404,518
Investment in common stock of Bank	79,233,550	61,962,129
TOTAL ASSETS	$101,570,788	$ 63,182,680
Liabilities and Stockholder's Equity
Accrued expenses and other liabilities	$ (374,284)	$ 233,572
Subordinated debt	7,217,000	7,217,000
TOTAL LIABILITIES	6,842,716	7,450,572
Stockholder's equity	94,728,072	55,732,108
TOTAL LIABILITIES AND
STOCKHOLDER'S EQUITY	$101,570,788	$ 63,182,680

	Year ended June 30
Condensed Statements of Income	2012	2011	2010
Interest income	$   110,741	$     17,438	$     62,324
Interest expense	232,154	226,776	227,020
Net interest expense	(121,413)	(209,338)	(164,696)
Dividends from Bank	2,700,000	2,000,000	2,000,000
Operating expenses	410,759	325,857	467,661
Income before income taxes and equity in undistributed income of the Bank	2,167,828	1,464,805	1,367,643
Income tax benefit	199,000	170,100	225,100
Income before equity in undistributed income of the Bank	2,366,828	1,634,905	1,592,743
Equity in undistributed income of the Bank	7,731,435	9,835,126	3,032,845
NET INCOME	$10,098,263	$11,470,031	$4,625,588

	Year ended June 30
Condensed Statements of Cash Flow	2012	2011	2010
Cash Flows from operating activities:
Net income	$10,098,263	$11,470,031	$4,625,588
Changes in:
Equity in undistributed income of the Bank	(7,731,435)	(9,835,126)	(3,032,845)
Other adjustments, net	(476,769)	335,400	258,960
NET CASH PROVIDED BY
OPERATING ACTIVITES	1,890,059	1,970,305	1,851,703
Cash flows from investing activities:
Proceeds from (investment in) loan participations	(6,721,160)	284,011	2,465,989
Proceeds from sale of real estate	-	-	2,016,991
Investment in Bank subsidiary	-	(4,500,000)	(2,000,000)
NET CASH (USED IN) OR PROVIDED BY
INVESTING ACTIVITIES	(6,721,160)	(4,215,989)	2,482,980
Cash flows from financing activities:
Proceeds from issuance of preferred stock	19,973,208	-	-
Proceeds from issuance of common stock	19,914,349	-	-
Dividends on preferred stock	(368,760)	(477,500)	(477,500)
Dividends on common stock	(1,283,928)	(1,004,749)	(1,002,156)
Exercise of stock options	22,845	82,730	-
Redemption of preferred stock	(9,550,000)	-	-
Investments in bank subsidiary	(9,350,000)	-	-
NET CASH (USED IN) OR PROVIDED BY
FINANCING ACTIVITIES	19,357,714	(1,399,519)	(1,479,656)
Net (decrease) increase in cash and cash equivalents	14,526,613	(3,645,203)	2,855,027
Cash and cash equivalents at beginning of year	816,033	4,461,236	1,606,209
CASH AND CASH EQUIVALENTS
AT END OF YEAR	$15,342,646	$816,033	$4,461,236