NOTE 20: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2019

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:

	June 30,
(dollars in thousands)	2019	2018
Condensed Balance Sheets
Assets
Cash and cash equivalents	$                 8,149	$                 8,383
Other assets	13,438	13,434
Investment in common stock of Bank	234,716	197,863
TOTAL ASSETS	$             256,303	$             219,680
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$                 2,868	$                 4,041
Subordinated debt	15,043	14,945
TOTAL LIABILITIES	17,911	18,986
Stockholders' equity	238,392	200,694
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$             256,303	$             219,680

	Year ended June 30,
(dollars in thousands)	2019	2018	2017
Condensed Statements of Income
Interest income	$                      25	$                      20	$                      17
Interest expense	1,079	887	661
Net interest expense	(1,054)	(867)	(644)
Dividends from Bank	23,000	6,000	4,000
Operating expenses	827	940	955
Income before income taxes and
equity in undistributed income of the Bank	21,119	4,193	2,401
Income tax benefit	358	437	455
Income before equity in undistributed
income of the Bank	21,477	4,630	2,856
Equity in undistributed income of the Bank	7,427	16,299	12,696
NET INCOME	$               28,904	$               20,929	$               15,552
COMPREHENSIVE INCOME	$               32,496	$               18,057	$               14,417

	Year ended June 30,
(dollars in thousands)	2019	2018	2017
Condensed Statements of Cash Flow
Cash Flows from operating activities:
Net income	$               28,904	$               20,929	$               15,552
Changes in:
Equity in undistributed income of the Bank	(7,427)	(16,299)	(12,696)
Other adjustments, net	(635)	40	412
NET CASH PROVIDED BY OPERATING ACTIVITES	20,842	4,670	3,268
Cash flows from investing activities:
Investments in Bank subsidiaries	(10,747)	(3,488)	(11,062)
NET CASH USED IN INVESTING ACTIVITIES	(10,747)	(3,488)	(11,062)
Cash flows from financing activities:
Dividends on common stock	(4,763)	(3,827)	(2,981)
Exercise of stock options	-	172	61
Payments to acquire treasury stock	(1,166)	-	-
Proceeds from issuance of common stock	-	-	24,144
Proceeds from issuance of long term debt	-	-	15,000
Repayments of long term debt	(4,400)	-	(15,650)
Injection of capital to subsidiary	-	-	(6,000)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(10,329)	(3,655)	14,574
Net increase (decrease) in cash and cash equivalents	(234)	(2,473)	6,780
Cash and cash equivalents at beginning of year	8,383	10,856	4,076
CASH AND CASH EQUIVALENTS AT END OF YEAR	$                 8,149	$                 8,383	$               10,856