Preliminary Q2 2025 Southern Missouri Bancorp Inc Earnings Call Transcript
Key Points
- Earnings and profitability improved due to a larger earning asset base, increased net interest income, and decreased non-interest expense.
- Net interest margin remained relatively steady at 3.36%, supported by decreased funding costs.
- Strong growth in deposits, with balances increasing by about $170 million in the second quarter.
- Tangible book value per share increased by 12% over the last 12 months.
- Asset quality remained strong with a decrease in adversely classified loans and stable delinquent loans.
- Non-performing loan balances increased slightly, indicating potential future credit quality concerns.
- Non-interest income decreased by 4.3% due to reduced gain on sale of loans and lower interchange income.
- Provision for credit losses was $932,000, indicating ongoing credit risk management challenges.
- The effective tax rate increased to 23.7% due to adjustments related to completed merger activity.
- Potential for modest increases in problem loans and net charge-offs due to sustained higher interest rates.
(audio in progress) Southern Missouri Bancorp. Thank you for joining us. The purpose of this call is to review the information and data presented in our quarterly earnings release dated Monday, January 27, 2024, and to take your questions. We may make certain forward-looking statements during today's call, and we refer you to our cautionary statement regarding forward-looking statements contained in the press release.
I'm joined on the call today by Greg Steffens, our Chairman and CEO; and by Matt Funke, President and Chief Administrative Officer. Matt will lead off our conversation today with some highlights from our most recent quarter.
Thanks Stefan, and good morning everyone. This is Matt Funke. Thanks for joining us. I'll start off with some highlights on our financial results for the December quarter, which is the second quarter of our fiscal
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