Note 21: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2013

Notes

Note 21: Condensed Parent Company Only Financial Statements

NOTE 21:  Condensed Parent Company Only Financial Statements

The following condensed balance sheets, statements of income and comprehensive 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	2013	2012
Assets
Cash and cash equivalents	$16,576,832	$15,342,647
Other assets	6,771,627	6,994,591
Investment in common stock of Bank	85,798,652	79,233,550
TOTAL ASSETS	$109,147,111	$101,570,788
Liabilities and Stockholder's Equity
Accrued expenses and other liabilities	$100,758	$(374,284)
Subordinated debt	7,217,000	7,217,000
TOTAL LIABILITIES	7,317,758	6,842,716
Stockholder's equity	101,829,353	94,728,072
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$109,147,111	$101,570,788

	Year ended June 30,
Condensed Statements of Income and Comprehensive Income	2013	2012	2011
Interest income	$311,013	$110,741	$17,438
Interest expense	227,127	232,154	226,776
Net interest income (expense)	83,886	(121,413)	(209,338)
Dividends from Bank	3,000,000	2,700,000	2,000,000
Operating expenses	368,747	410,759	325,857
Income before income taxes and equity
in undistributed income of the Bank	2,715,139	2,167,828	1,464,805
Income tax benefit	107,000	199,000	170,100
Income before equity in undistributed
income of the Bank	2,822,139	2,366,828	1,634,905
Equity in undistributed income of the Bank	7,245,076	7,731,435	9,835,126
NET INCOME	$10,067,215	$10,098,263	$11,470,031
COMPREHENSIVE INCOME	$9,188,374	$10,262,544	$11,417,687

	Year ended June 30,
Condensed Statements of Cash Flow	2013	2012	2011
Cash Flows from operating activities:
Net income	$10,067,215	$10,098,263	$11,470,031
Changes in:
Equity in undistributed income of the Bank	(7,245,076)	(7,731,435)	(9,835,126)
Other adjustments, net	482,570	(476,769)	335,400
NET CASH PROVIDED BY OPERATING ACTIVITES	3,304,709	1,890,059	1,970,305
Cash flows from investing activities:
Proceeds from (investment in) loan participations	215,536	(6,721,160)	284,011
Investment in Bank subsidiary	(100)	-	(4,500,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	215,436	(6,721,160)	(4,215,989)
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	(411,553)	(368,760)	(477,500)
Dividends on common stock	(1,974,924)	(1,283,928)	(1,004,749)
Exercise of stock options	100,518	22,845	82,730
Redemption of preferred stock	-	(9,550,000)	-
Investments in bank subsidiary	-	(9,350,000)	-
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(2,285,959)	19,357,714	(1,399,519)
Net increase (decrease) in cash and cash equivalents	1,234,186	14,526,613	(3,645,203)
Cash and cash equivalents at beginning of year	15,342,646	816,033	4,461,236
CASH AND CASH EQUIVALENTS AT END OF YEAR	$16,576,832	$15,342,646	$816,033