The bank has successfully scaled operations, evidenced by an efficiency ratio improvement from 36.0% in 2024Q3 to 33.5% in 2026Q3 while maintaining a stable 0.8% net interest margin.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Net Interest Income | 168.78M | 154.62M | 139.48M | 126.75M | 103.57M | 92.69M | 80.14M | 72.78M | 62.38M | 51.12M | 46.95M | 46.53M | 32.99M | 28.79M | 29.02M | 23.76M | 16.32M | 14.1M | 11.78M | 9.93M | 9.6M | 9.25M | 9.15M | 9.28M | 8.85M | 6.67M | 5.37M | 5.2M | 5.2M | 5.1M | 4.7M |
| NII Growth % | 52.33% | 10.85% | 10.05% | 22.38% | 11.74% | 15.66% | 10.1% | 16.67% | 22.03% | 8.88% | 0.9% | 41.08% | 14.57% | -0.8% | 22.13% | 45.64% | 15.74% | 19.67% | 18.64% | 3.43% | 3.76% | 1.06% | -1.39% | 4.86% | 32.72% | 24.2% | 3.29% | 0% | 1.96% | 8.51% | 4.44% |
| Net Interest Margin % | 3.28% | 3.08% | 3.03% | 2.91% | 3.22% | 3.43% | 3.15% | 3.29% | 3.31% | 2.99% | 3.34% | 3.58% | 3.23% | 3.62% | 3.93% | 3.45% | 2.96% | 3.03% | 2.82% | 2.61% | 2.74% | 2.8% | 2.94% | 3.32% | 3.32% | 2.77% | 2.91% | 3.15% | 3.34% | 3.18% | 2.94% |
| Interest Income | 286.86M | 277.37M | 248.38M | 176.42M | 116.87M | 109.47M | 107.05M | 97.48M | 77.17M | 61.49M | 56.32M | 55.3M | 40.47M | 36.29M | 38.97M | 35.05M | 27.54M | 25.3M | 25.33M | 23.55M | 20.36M | 17.28M | 15.7M | 16.4M | 16.99M | 16.16M | 12.29M | 11.4M | 11.4M | 11.4M | 11M |
| Interest Expense | 118.08M | 122.75M | 108.89M | 49.67M | 13.3M | 16.79M | 26.92M | 24.7M | 14.79M | 10.37M | 9.37M | 8.77M | 7.49M | 7.5M | 9.94M | 11.29M | 11.22M | 11.2M | 13.55M | 13.62M | 10.76M | 8.03M | 6.55M | 7.12M | 8.14M | 9.49M | 6.92M | 6.2M | 6.2M | 6.3M | 6.3M |
| Loan Loss Provision | 9.08M | 6.52M | 3.6M | 17.06M | 1.49M | -1.02M | 6.65M | 2.18M | 3.1M | 2.34M | 2.49M | 3.19M | 1.65M | 1.72M | 1.78M | 2.38M | 924.93K | 1.15M | 939.78K | 605K | 555K | 4.82M | 275K | 330K | 350K | 510K | 215K | 200K | 800K | 200K | 100K |
| Non-Interest Income | 27.61M | 27.88M | 24.84M | 26.2M | 21.2M | 20.04M | 14.75M | 13.09M | 12.37M | 9.93M | 8.79M | 7.64M | 5.02M | 3.9M | 3.5M | 3.06M | 3.09M | 2.5M | 2.41M | 2.21M | 2.14M | 2.31M | 1.88M | 1.41M | 874.34K | 1.45M | 611.88K | 1.3M | 800K | 600K | 600K |
| Non-Interest Income % | 8.78% | 9.13% | 9.09% | 12.93% | 15.36% | 15.47% | 12.11% | 11.84% | 13.81% | 13.91% | 13.5% | 12.14% | 11.03% | 9.71% | 8.23% | 8.04% | 10.1% | 8.99% | 8.69% | 8.57% | 9.52% | 11.81% | 10.67% | 7.94% | 4.89% | 8.22% | 4.74% | 10.24% | 6.56% | 5% | 5.17% |
| Total Revenue | 314.47M | 305.25M | 273.22M | 202.62M | 138.07M | 129.52M | 121.8M | 110.58M | 89.54M | 71.42M | 65.1M | 62.94M | 45.49M | 40.19M | 42.46M | 38.11M | 30.64M | 27.8M | 27.74M | 25.76M | 22.51M | 19.6M | 17.58M | 17.82M | 17.87M | 17.61M | 12.9M | 12.7M | 12.2M | 12M | 11.6M |
| Revenue Growth % | 19.72% | 11.72% | 34.84% | 46.75% | 6.6% | 6.33% | 10.15% | 23.49% | 25.37% | 9.7% | 3.44% | 38.37% | 13.18% | -5.34% | 11.42% | 24.4% | 10.2% | 0.22% | 7.7% | 14.44% | 14.85% | 11.51% | -1.37% | -0.27% | 1.48% | 36.47% | 1.59% | 4.1% | 1.67% | 3.45% | 13.73% |
| Non-Interest Expense | 102.41M | 102.08M | 97.62M | 86.42M | 63.38M | 54.05M | 53.8M | 47.74M | 42.91M | 37.1M | 31.71M | 31.27M | 22.53M | 16.95M | 16.04M | 7.02M | 12.35M | 9.9M | 7.86M | 7.46M | 7.03M | 6.73M | 6.45M | 6.16M | 5.87M | 5.22M | 3.76M | 3.8M | 3.6M | 4M | 3M |
| Efficiency Ratio | 32.57% | 33.44% | 35.73% | 42.65% | 45.9% | 41.73% | 44.17% | 43.18% | 47.93% | 51.95% | 48.71% | 49.68% | 49.53% | 42.18% | 37.77% | 18.42% | 40.31% | 35.6% | 28.35% | 28.96% | 31.23% | 34.33% | 36.67% | 34.6% | 32.87% | 29.64% | 29.13% | 29.92% | 29.51% | 33.33% | 25.86% |
| Operating Income | 84.89M | 73.99M | 63.11M | 49.46M | 59.9M | 59.7M | 34.43M | 35.95M | 28.73M | 21.61M | 21.53M | 19.72M | 13.83M | 14.02M | 14.7M | 17.42M | 6.14M | 5.55M | 5.39M | 4.07M | 4.16M | 22.36K | 4.31M | 4.2M | 3.51M | 2.39M | 2.01M | 2.5M | 1.6M | 1.5M | 2.2M |
| Operating Margin % | 27% | 24.24% | 23.1% | 24.41% | 43.39% | 46.1% | 28.27% | 32.51% | 32.09% | 30.26% | 33.07% | 31.34% | 30.39% | 34.89% | 34.61% | 45.71% | 20.03% | 19.95% | 19.42% | 15.81% | 18.49% | 0.11% | 24.52% | 23.59% | 19.62% | 13.57% | 15.58% | 19.69% | 13.11% | 12.5% | 18.97% |
| Operating Income Growth % | - | 17.25% | 27.59% | -17.43% | 0.33% | 73.4% | -4.23% | 25.13% | 32.93% | 0.39% | 9.16% | 42.66% | -1.39% | -4.59% | -15.65% | 183.9% | 10.64% | 2.94% | 32.29% | -2.11% | 18509.11% | -99.48% | 2.52% | 19.93% | 46.76% | 18.83% | -19.59% | 56.25% | 6.67% | -31.82% | 29.41% |
| Pretax Income | 83.22M | 73.99M | 63.11M | 49.46M | 59.9M | 59.7M | 34.43M | 35.95M | 28.73M | 21.61M | 21.53M | 19.72M | 13.83M | 14.02M | 14.7M | 17.42M | 6.14M | 5.55M | 5.39M | 4.07M | 4.16M | 22.36K | 4.31M | 4.2M | 3.51M | 2.39M | 2.01M | 2.5M | 1.6M | 1.5M | 2.2M |
| Pretax Margin % | 26.46% | 24.24% | 23.1% | 24.41% | 43.39% | 46.1% | 28.27% | 32.51% | 32.09% | 30.26% | 33.07% | 31.34% | 30.39% | 34.89% | 34.61% | 45.71% | 20.03% | 19.95% | 19.42% | 15.81% | 18.49% | 0.11% | 24.52% | 23.59% | 19.62% | 13.57% | 15.58% | 19.69% | 13.11% | 12.5% | 18.97% |
| Income Tax | 15.87M | 15.41M | 12.93M | 10.23M | 12.73M | 12.53M | 6.89M | 7.05M | 7.8M | 6.06M | 6.68M | 6.06M | 3.75M | 3.95M | 4.6M | 5.95M | 1.51M | 1.71M | 1.77M | 1.14M | 1.38M | -81.9K | 1.43M | 1.47M | 1.2M | 840K | 690K | 900K | 500K | 400K | 700K |
| Effective Tax Rate % | 19.07% | 20.83% | 20.48% | 20.67% | 21.26% | 20.98% | 20% | 19.6% | 27.16% | 28.05% | 31.04% | 30.7% | 27.09% | 28.2% | 31.28% | 34.16% | 24.62% | 30.86% | 32.94% | 28.1% | 33.09% | -366.3% | 33.11% | 34.87% | 34.14% | 35.17% | 34.33% | 36% | 31.25% | 26.67% | 31.82% |
| Net Income | 67.35M | 58.31M | 50.18M | 39.24M | 47.17M | 47.18M | 27.55M | 28.9M | 20.93M | 15.55M | 14.85M | 13.67M | 10.08M | 10.07M | 10.1M | 11.47M | 4.63M | 3.84M | 3.61M | 2.93M | 2.78M | 104.26K | 2.88M | 2.74M | 2.31M | 1.55M | 1.32M | 1.6M | 1.1M | 1.1M | 1.5M |
| Net Margin % | 21.42% | 19.1% | 18.37% | 19.36% | 34.16% | 36.43% | 22.61% | 26.14% | 23.37% | 21.77% | 22.81% | 21.72% | 22.16% | 25.05% | 23.78% | 30.1% | 15.1% | 13.8% | 13.03% | 11.37% | 12.37% | 0.53% | 16.4% | 15.37% | 12.92% | 8.79% | 10.23% | 12.6% | 9.02% | 9.17% | 12.93% |
| Net Income Growth % | 19.72% | 16.21% | 27.89% | -16.82% | -0.02% | 71.28% | -4.7% | 38.1% | 34.57% | 4.74% | 8.63% | 35.58% | 0.14% | -0.31% | -11.96% | 147.97% | 20.61% | 6.15% | 23.38% | 5.18% | 2570.43% | -96.38% | 5.28% | 18.59% | 49.1% | 17.3% | -17.49% | 45.45% | 0% | -26.67% | 25% |
| Net Income (Continuing) | 67.35M | 58.58M | 50.18M | 39.24M | 47.17M | 47.18M | 27.55M | 28.9M | 20.93M | 15.55M | 14.85M | 13.67M | 10.08M | 10.07M | 10.1M | 11.47M | 4.63M | 3.84M | 3.61M | 2.93M | 2.78M | 104.26K | 2.88M | 2.74M | 2.31M | 1.55M | 1.32M | 1.6M | 1.1M | 1.1M | 1.5M |
| EPS (Diluted) | 6.08 | 5.18 | 4.42 | 3.85 | 5.21 | 5.22 | 2.99 | 3.14 | 2.39 | 2.08 | 1.98 | 1.79 | 1.46 | 1.44 | 1.66 | 2.56 | 0.98 | 0.84 | 0.82 | 0.65 | 0.62 | 0.03 | 0.62 | 0.57 | 0.48 | 0.31 | 0.26 | 0.30 | 0.17 | 0.17 | 0.23 |
| EPS Growth % | 20.28% | 17.19% | 14.81% | -26.1% | -0.19% | 74.58% | -4.78% | 31.38% | 14.9% | 5.05% | 10.61% | 22.6% | 1.39% | -13.25% | -35.16% | 161.22% | 16.67% | 2.44% | 26.15% | 4.84% | 2380% | -95.97% | 8.77% | 18.75% | 54.84% | 19.23% | -13.33% | 76.47% | 0% | -26.09% | 21.05% |
| EPS (Basic) | - | 5.19 | 4.42 | 3.86 | 5.22 | 5.22 | 3.00 | 3.14 | 2.40 | 2.08 | 1.99 | 1.84 | 1.50 | 1.48 | 1.72 | 2.63 | 0.99 | 0.84 | 0.82 | 0.66 | 0.63 | 0.03 | 0.64 | 0.59 | 0.49 | 0.32 | 0.26 | 0.31 | 0.17 | 0.17 | 0.23 |
| Diluted Shares Outstanding | 11.07M | 11.27M | 11.3M | 11.33M | 9.01M | 9.01M | 9.2M | 9.2M | 8.76M | 7.51M | 7.46M | 7.51M | 6.8M | 6.75M | 5.78M | 4.28M | 4.21M | 4.25M | 4.42M | 4.53M | 4.49M | 4.17M | 4.69M | 4.8M | 4.86M | 4.96M | 5.18M | 5.33M | 6.57M | 6.57M | 6.67M |
Agricultural credit concentration
As reported in financial statements, SMBC has demonstrated a consistent upward trajectory in net interest income, which grew from $34.5 million in 2024Q3 to $43.2 million by 2026Q3, reflecting the bank's successful execution of its regional growth strategy and effective management of interest-earning assets.
The steady expansion of NII suggests that the bank is successfully capturing loan volume growth within its core Missouri and Arkansas markets. Investors should monitor whether this growth remains sustainable as the bank faces potential normalization in deposit betas and increased competition for high-quality commercial credits.
Based on reported figures, SMBC has maintained a remarkably stable net interest margin of 0.8% over the last ten quarters, suggesting that the bank's funding costs have remained well-aligned with asset yields despite broader volatility in the regional banking sector's interest rate environment.
This stability implies a disciplined approach to deposit pricing and a loan portfolio that likely reprices in tandem with funding liabilities. However, the lack of margin expansion in a fluctuating rate environment warrants further investigation into whether the bank's deposit base is becoming more sensitive to market rate shifts.
According to recent SEC filings, SMBC has successfully improved its efficiency ratio from 36.0% in 2024Q3 to 33.5% in 2026Q3, indicating that management is effectively leveraging its 48-branch network to drive revenue growth at a faster pace than the accumulation of non-interest expenses.
The downward trend in the efficiency ratio appears to validate the bank's M&A-heavy growth model, suggesting that integration efforts are yielding the intended economies of scale. Continued monitoring is required to ensure that future acquisitions do not introduce 'integration creep' that could reverse these operational gains.
As indicated by the bank's quarterly data, provision for credit losses has fluctuated significantly, peaking at $4.5 million in 2026Q1 before moderating to $2.1 million in 2026Q3, which suggests a proactive approach to managing potential credit deterioration within its specialized agricultural and commercial loan portfolios.
The volatility in provision expense may indicate management's sensitivity to regional economic cycles, particularly within the agricultural sector where input costs can impact borrower repayment capacity. Investors should interpret these swings as a conservative risk management posture rather than an immediate signal of underlying asset quality degradation.
Quick answers to the most common questions about buying SMBC stock.
Southern Missouri Bancorp, Inc. (SMBC) is profitable, generating $58.3M in net income for the fiscal year ending 2025 with a net profit margin of 19.1%.
Southern Missouri Bancorp, Inc. (SMBC) reported an operating income of $74.0M, resulting in an operating profit margin of 24.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Southern Missouri Bancorp, Inc. (SMBC) generated $176.1M in gross profit for the year, representing a gross profit margin of 57.7%. This demonstrates the company's core pricing power and production efficiency.