- SBC reports a 38.7% increase in net income for Q3 2025, reaching $15.7 million.
- Earnings per share surge 40.4% year-over-year to $1.39.
- Quarterly dividend of $0.23 per share declared.
Southern Missouri Bancorp (SMBC, Financial) has announced robust preliminary results for the third quarter of fiscal 2025, showcasing a significant 38.7% rise in net income, which totaled $15.7 million. Furthermore, the company's earnings per share increased by an impressive 40.4% compared to the previous year, reaching $1.39.
Key performance measures reflected positive growth, with the return on average assets (ROA) climbing to 1.27% and return on average equity (ROE) enhancing to 12.1%. The net interest margin also showed improvement, rising to 3.39%, up from 3.15% a year ago. Net interest income reported a 14.4% year-over-year increase.
In terms of balance sheet progression, total assets grew to $5.0 billion, marking an 8.1% increase since June 2024. Additionally, deposits rose by $50.8 million over the past quarter and by $275.3 million compared to the same quarter last year, representing an increase of 6.9% year-over-year.
SMBC's board has declared a quarterly dividend of $0.23 per share, set to be paid on May 30, 2025, to shareholders of record as of May 15, 2025. This marks the 124th consecutive quarterly dividend, reflecting the company's commitment to delivering shareholder value.
However, the bank faces rising nonperforming loans, which have increased to $22.0 million (0.55% of gross loans) from $6.7 million (0.17% of gross loans) at the end of June 2024. This was partly attributed to a specific agricultural relationship suspected of fraudulent activities.
For further insights and fiscal analysis, a conference call is scheduled for April 22, 2025, at 8:30 AM Central Time.
