Note 20: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2017

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	2017	2016
Assets
Cash and cash equivalents	$             10,856	$                  4,076
Other assets	9,017	4,951
Investment in common stock of Bank	172,324	132,540
TOTAL ASSETS	$           192,197	$              141,567
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$               4,141	$                     848
Subordinated debt	14,848	14,753
TOTAL LIABILITIES	18,989	15,601
Stockholders' equity	173,208	125,966
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$           192,197	$              141,567

(dollars in thousands)	Year ended June 30,
Condensed Statements of Income	2017	2016	2015
Interest income	$                   17	$                      14	$                 115
Interest expense	661	568	512
Net interest expense	(644)	(554)	(397)
Dividends from Bank	4,000	23,600	13,200
Operating expenses	955	294	940
Income before income taxes and
equity in undistributed income of the Bank	2,401	22,752	11,863
Income tax benefit	455	325	463
Income before equity in undistributed
income of the Bank	2,856	23,077	12,326
Equity in undistributed income of the Bank	12,696	(8,229)	1,342
NET INCOME	$            15,552	$               14,848	$            13,668
COMPREHENSIVE INCOME	$            14,417	$               15,649	$            13,941

(dollars in thousands)	Year ended June 30,
Condensed Statements of Cash Flow	2017	2016	2015
Cash Flows from operating activities:
Net income	$  15,552	$  14,848	$     13,668
Changes in:
Equity in undistributed income of the Bank	(12,696)	8,229	(1,342)
Other adjustments, net	412	401	78
NET CASH PROVIDED BY OPERATING ACTIVITES	3,268	23,478	12,404
Cash flows from investing activities:
Proceeds from loan participations	-	-	2,593
Proceeds from sale of real estate	-	2,407	-
Investments in Bank subsidiaries	(11,062)	-	(11,774)
Retirement of debt in acquisitions	-	-	(2,936)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(11,062)	2,407	(12,117)
Cash flows from financing activities:
Dividends on preferred stock	-	(135)	(200)
Dividends on common stock	(2,981)	(2,675)	(2,517)
Exercise of stock options	61	99	332
Redemption of common stock warrants	-	-	(2,700)
Redemption of preferred stock	-	(20,000)	-
Proceeds from issuance of common stock	24,144	-	-
Proceeds from issuance of long term debt	15,000	-	-
Repayments of long term debt	(15,650)	-	-
Injection of capital to subsidiary	(6,000)	-	-
NET CASH USED IN FINANCING ACTIVITIES	14,574	(22,711)	(5,085)
Net increase (decrease) in cash and cash equivalents	6,780	3,174	(4,798)
Cash and cash equivalents at beginning of year	4,076	902	5,700
CASH AND CASH EQUIVALENTS AT END OF YEAR	$  10,856	$    4,076	$       902