Southern Missouri Bancorp, Inc. has recently released its 10-K report, providing detailed insights into its financial performance and operations. The company operates as the bank holding company for Southern Bank, offering a range of banking and financial services to individuals and corporate customers in the United States. As of June 30, 2024, the company had total assets of $4.6 billion, total deposits of $4.0 billion, and stockholders’ equity of $488.7 million. The primary business of the bank includes attracting retail deposits and using them, along with wholesale funding, to invest in various types of loans and securities, generating revenue primarily from interest earned on loans and investment securities, as well as banking service charges and other fee income.
In the 10-K report, Item 7 provides a comprehensive Management’s Discussion and Analysis of Financial Condition and Results of Operations, offering detailed insights into the company's financial performance and the factors that may impact its future operations. Additionally, Item 7A presents quantitative and qualitative disclosures about market risk, shedding light on the potential market risks the company faces.
Furthermore, Item 8 includes the financial statements and supplementary information, providing a detailed breakdown of the company's financial position, performance, and cash flows. Item 9 covers changes in and disagreements with accountants on accounting and financial disclosure, as well as controls and procedures, offering transparency into the company's financial reporting and control mechanisms.
The 10-K report also details the company's acquisitions over the last ten years, including the completion of acquisitions such as Citizens Bancshares, Co., Fortune Financial, Inc., and others. These acquisitions have contributed to the company's growth and expansion of its commercial banking activities.
Moreover, the report highlights capital-raising transactions, such as the completion of an at-the-market common stock issuance and an underwritten public offering of common stock, providing insights into the company's capital-raising activities to support its growth and acquisitions.
Finally, the report includes forward-looking statements, outlining the company's anticipated future operating and financial performance, growth opportunities, and potential risks that could impact its results. The company emphasizes that actual results may differ materially from the forward-looking statements due to various factors, including economic conditions, regulatory changes, and technological advancements.
Today the company's shares have moved 1.7% to a price of $55.2. Check out the company's full 10-K submission here.
