Note 20: Condensed Parent Company Only Financial Statements

12 Months Ended

Jun. 30, 2015

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	2015	2014
Assets
Cash and cash equivalents	$902	$5,700
Other assets	8,365	6,856
Investment in common stock of Bank	138,583	108,332
TOTAL ASSETS	$147,850	$120,888
Liabilities and Stockholder's Equity
Accrued expenses and other liabilities	$549	$50
Subordinated debt	14,658	9,727
TOTAL LIABILITIES	15,207	9,777
Stockholder's equity	132,643	111,111
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$147,850	$120,888

(dollars in thousands)	Year ended June 30,
Condensed Statements of Income	2015	2014	2013
Interest income	$115	$255	$311
Interest expense	512	305	227
Net interest income (expense)	(397)	(50)	84
Dividends from Bank	13,200	3,000	3,000
Operating expenses	940	1,141	369
Income before income taxes and
equity in undistributed income of the Bank	11,863	1,809	2,715
Income tax benefit	463	444	107
Income before equity in undistributed
income of the Bank	12,326	2,253	2,822
Equity in undistributed income of the Bank	1,342	7,828	7,245
NET INCOME	$13,668	$10,081	$10,067
COMPREHENSIVE INCOME	$13,941	$10,848	$9,188

(dollars in thousands)	Year ended June 30,
Condensed Statements of Cash Flow	2015	2014	2013
Cash Flows from operating activities:
Net income	$13,668	$10,081	$10,067
Changes in:
Equity in undistributed income of the Bank	(1,342)	(7,828)	(7,245)
Other adjustments, net	78	65	483
NET CASH PROVIDED BY OPERATING ACTIVITES	12,404	2,318	3,305
Cash flows from investing activities:
Proceeds from loan participations	2,593	3,913	215
Proceeds from sale of real estate	-	849	-
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	(12,117)	(11,400)	215
Cash flows from financing activities:
Dividends on preferred stock	(200)	(200)	(412)
Dividends on common stock	(2,517)	(2,119)	(1,975)
Exercise of stock options	332	524	101
Redemption of preferred stock	(2,700)	-	-
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(5,085)	(1,795)	(2,286)
Net increase (decrease) in cash and cash equivalents	(4,798)	(10,877)	1,234
Cash and cash equivalents at beginning of year	5,700	16,577	15,343
CASH AND CASH EQUIVALENTS AT END OF YEAR	$902	$5,700	$16,577