Note 20: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2016

Notes

Note 20: Condensed Parent Company Only Financial Statements

NOTE 20:  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:

(dollars in thousands)	June 30,
Condensed Balance Sheets	2016	2015
Assets
Cash and cash equivalents	$                   4,076	$                         902
Other assets	4,951	7,365
Investment in common stock of Bank	132,540	139,583
TOTAL ASSETS	$               141,567	$                  147,850
Liabilities and Stockholders’ Equity
Accrued expenses and other liabilities	$                      848	$                         549
Subordinated debt	14,753	14,658
TOTAL LIABILITIES	15,601	15,207
Stockholders’ equity	125,966	132,643
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$               141,567	$                  147,850

(dollars in thousands)	Year ended June 30,
Condensed Statements of Income	2016	2015	2014
Interest income	$                        14	$                         115	$                     255
Interest expense	568	512	305
Net interest expense	(554)	(397)	(50)
Dividends from Bank	23,600	13,200	3,000
Operating expenses	294	940	1,141
Income before income taxes and
equity in undistributed income of the Bank	22,752	11,863	1,809
Income tax benefit	325	463	444
Income before equity in undistributed
income of the Bank	23,077	12,326	2,253
Equity in undistributed income of the Bank	(8,229)	1,342	7,828
NET INCOME	$                 14,848	$                    13,668	$                10,081
COMPREHENSIVE INCOME	$                 15,649	$                    13,941	$                10,848

(dollars in thousands)	Year ended June 30,
Condensed Statements of Cash Flow	2016	2015	2014
Cash Flows from operating activities:
Net income	$                 14,848	$                    13,668	$                10,081
Changes in:
Equity in undistributed income of the Bank	8,229	(1,342)	(7,828)
Other adjustments, net	401	78	65
NET CASH PROVIDED BY OPERATING ACTIVITES	23,478	12,404	2,318
Cash flows from investing activities:
Proceeds from loan participations	-	2,593	3,912
Proceeds from sale of real estate	2,407	-	850
Purchases of premises and equipment	-	-	(3,257)
Investments in Bank subsidiaries	-	(11,774)	(11,988)
Retirement of debt in acquisitions	-	(2,936)	(692)
Investments in state and federal tax credits	-	-	(225)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	2,407	(12,117)	(11,400)
Cash flows from financing activities:
Dividends on preferred stock	(135)	(200)	(200)
Dividends on common stock	(2,675)	(2,517)	(2,119)
Exercise of stock options	99	332	524
Redemption of common stock warrants	-	(2,700)	-
Redemption of preferred stock	(20,000)	-	-
NET CASH USED IN FINANCING ACTIVITIES	(22,711)	(5,085)	(1,795)
Net increase (decrease) in cash and cash equivalents	3,174	(4,798)	(10,877)
Cash and cash equivalents at beginning of year	902	5,700	16,577
CASH AND CASH EQUIVALENTS AT END OF YEAR	$                   4,076	$                         902	$                  5,700