Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2024

Condensed Parent Company Only Financial Statements

Condensed Parent Company Only Financial Statements

NOTE 18: 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)	2024		2023
Condensed Balance Sheets
Assets
Cash and cash equivalents	$	13,967	$	13,442
Other assets		52,220		52,178
Investment in common stock of Bank		446,131		404,247
TOTAL ASSETS	$	512,318	$	469,867
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$	414	$	704
Subordinated debt		23,156		23,105
TOTAL LIABILITIES		23,570		23,809
Stockholders' equity		488,748		446,058
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	512,318	$	469,867

	Year ended June 30,
(dollars in thousands)	2024		2023		2022
Condensed Statements of Income
Interest income	$	41	$	32	$	14
Interest expense		1,742		1,439		686
Net interest expense		(1,701)		(1,407)		(672)
Dividends from Bank		16,000		48,000		31,000
Operating expenses		1,018		3,041		1,124
Income before income taxes and equity in undistributed income of the Bank		13,281		43,552		29,204
Income tax benefit		571		552		321
Income before equity in undistributed income of the Bank		13,852		44,104		29,525
Equity in undistributed income of the Bank		36,330		(4,867)		17,644
NET INCOME	$	50,182	$	39,237	$	47,169
COMPREHENSIVE INCOME	$	54,652	$	34,799	$	26,800

	Year ended June 30,
(dollars in thousands)	2024		2023		2022
Condensed Statements of Cash Flow
Cash Flows from operating activities:
Net income	$	50,182	$	39,237	$	47,169
Changes in:
Equity in undistributed income of the Bank		(36,330)		4,867		(17,644)
Other adjustments, net		56		388		(698)
NET CASH PROVIDED BY OPERATING ACTIVITES		13,908		44,492		28,827
Investments in Bank subsidiaries		—		(31,382)		(8,024)
NET CASH USED IN INVESTING ACTIVITIES		—		(31,382)		(8,024)
Cash flows from financing activities:
Dividends on common stock		(9,526)		(8,632)		(7,194)
Payments to acquire treasury stock		(3,857)		—		(5,838)
NET CASH USED IN FINANCING ACTIVITIES		(13,383)		(8,632)		(13,032)
Net increase in cash and cash equivalents		525		4,478		7,771
Cash and cash equivalents at beginning of year		13,442		8,964		1,193
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	13,967	$	13,442	$	8,964