NOTE 20: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2018

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		2018	2017
Assets
Cash and cash equivalents		$                   8,383	$                    10,856
Other assets		13,434	8,991
Investment in common stock of Bank		197,863	172,199
	TOTAL ASSETS	$               219,680	$                  192,046
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities		$                   4,041	$                      4,115
Subordinated debt		14,945	14,848
	TOTAL LIABILITIES	18,986	18,963
Stockholders' equity		200,694	173,083
	TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$               219,680	$                  192,046

(dollars in thousands)		Year ended June 30,
Condensed Statements of Income		2018	2017	2016
Interest income		$                        20	$                           17	$                       14
Interest expense		887	661	568
Net interest expense		(867)	(644)	(554)
Dividends from Bank		6,000	4,000	23,600
Operating expenses		940	955	294
Income before income taxes and
equity in undistributed income of the Bank		4,193	2,401	22,752
Income tax benefit		437	455	325
Income before equity in undistributed
income of the Bank		4,630	2,856	23,077
Equity in undistributed income of the Bank		16,299	12,696	(8,229)
	NET INCOME	$                 20,929	$                    15,552	$                14,848
	COMPREHENSIVE INCOME	$                 18,057	$                    14,417	$                15,649

(dollars in thousands)	Year ended June 30,
Condensed Statements of Cash Flow	2018	2017	2016
Cash Flows from operating activities:
Net income	$                 20,929	$                    15,552	$                14,848
Changes in:
Equity in undistributed income of the Bank	(16,299)	(12,696)	8,229
Other adjustments, net	40	412	401
NET CASH PROVIDED BY OPERATING ACTIVITES	4,670	3,268	23,478
Cash flows from investing activities:
Proceeds from sale of real estate	-	-	2,407
Investments in Bank subsidiaries	(3,488)	(11,062)	-
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(3,488)	(11,062)	2,407
Cash flows from financing activities:
Dividends on preferred stock	-	-	(135)
Dividends on common stock	(3,827)	(2,981)	(2,675)
Exercise of stock options	172	61	99
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 PROVIDED BY (USED IN) FINANCING ACTIVITIES	(3,655)	14,574	(22,711)
Net increase (decrease) in cash and cash equivalents	(2,473)	6,780	3,174
Cash and cash equivalents at beginning of year	10,856	4,076	902
CASH AND CASH EQUIVALENTS AT END OF YEAR	$                   8,383	$                    10,856	$                  4,076