SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR SECOND QUARTER OF FISCAL 2026; DECLARES QUARTERLY DIVIDEND OF $0.25 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, JANUARY 22, AT 9:30 AM CENTRAL TIME

Company Release - 1/21/2026 Poplar Bluff, Missouri, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the second quarter of fiscal 2026 of $18.2 million, an increase of $3.5 million, or 23.9%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase in net interest income, partially offset by increases in provision for credit loss (PCL) expense, and noninterest expense, and lower noninterest income. Preliminary net income was $1.62 per fully diluted common share for the second quarter of fiscal 2026, an increase of $0.32 as compared to the $1.30 per fully diluted common share reported for the same period of the prior fiscal year. Highlights for the second quarter of fiscal 2026: Earnings per common share (diluted) was $1.62, up $0.32, or 24.6%, as compared to the same quarter a year ago, and up $0.24, or 17.4% from the first quarter of fiscal 2026, the linked quarter.Annualized return on average assets (“ROAA”) was 1.42%, while annualized return on average common equity was 12.8%, as compared to 1.20% and 11.4%, respectively, in the same quarter a year ago, and 1.24% and 11.3%, respectively, in the first quarter of fiscal 2026, the linked quarter. Net interest margin for the quarter was 3.57%, as compared to 3.34% reported for the year ago period, and as compared to 3.57% reported for the first quarter of fiscal 2026, the linked quarter. Net interest income increased $4.7 million, or 12.4%, as compared to the same quarter a year ago, and increased $452,000, or 1.1%, from the first quarter of fiscal 2026, the linked quarter.Gross loan balances as of December 31, 2025, increased by $34.8 million, or 0.8%, as compared to September 30, 2025, and by $199.6 million, or 5.0%, as compared to December 31, 2024. Tangible book value per share was $44.65, having increased by $5.74, or 14.8%, as compared to December 31, 2024. The Company repurchased 148,000 shares of its common stock in the second quarter of fiscal 2026 at an average price of $54.32 per share, for a total of $8.1 million. The average purchase price was 122% of our tangible book value as of December 31, 2025. The Board of Directors authorized a new share repurchase program for up to approximately 5% of outstanding common shares, following the near completion of the prior authorization. Dividend Declared: The Board of Directors, on January 20, 2026, declared a quarterly cash dividend on common stock of $0.25, payable February 27, 2026, to stockholders of record at the close of business on February 13, 2026, marking the 127th consecutive quarterly dividend since the inception of the Company. The Board of Directors and management believe the payment of a quarterly cash dividend enhances stockholder value and demonstrates our commitment to and confidence in our future prospects. Share Repurchase Authorization: On January 20, 2026, the Board of Directors approved a new authorization to repurchase up to 550,000 shares of the Company’s common stock, or approximately 5.0% of shares outstanding, following the near completion of the Company’s prior repurchase program announced on May 20, 2021. Repurchases may be made from time to time in the open market or in privately negotiated transactions, subject to market conditions and other factors. Any shares repurchased will be held as treasury shares for general corporate purposes. As of January 21, 2026, the Company had repurchased nearly all shares authorized under the prior program at an average cost of $48.28 per share. The prior program permitted the repurchase of up to 445,000 shares. Conference Call: The Company will host a conference call to review the information provided in this press release on Thursday, January 22, 2026, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-833-470-1428. Participants should use participant access code 915129. Telephone playback will be available beginning one hour following the conclusion of the call through January 27, 2026. The playback may be accessed by dialing 1-866-813-9403, and using the conference passcode 450286. Balance Sheet Summary: The Company experienced balance sheet growth in the first six months of fiscal 2026, with total assets of $5.1 billion at December 31, 2025, reflecting an increase of $74.8 million, or 1.5%, as compared to June 30, 2025. Growth primarily reflected an increase in net loans receivable, partially offset by decreases in cash equivalents and time deposits and available for sale (AFS) securities. Cash equivalents and time deposits were a combined $134.3 million at December 31, 2025, a decrease of $58.8 million, or 30.4%, as compared to June 30, 2025. The decrease was primarily the result of loan growth that outpaced deposit generation during the period. AFS securities were $445.0 million at December 31, 2025, down $15.9 million, or 3.4%, as compared to June 30, 2025, reflecting normal principal amortization as well as early redemptions from callable securities, which accelerated portfolio runoff during the period. Loans, net of the allowance for credit losses (ACL), were $4.2 billion at December 31, 2025, increasing by $123.1 million, or 3.0%, as compared to June 30, 2025. The Company noted growth primarily in 1-4 family residential real estate, multi-family real estate, commercial and industrial, both non-owner and owner occupied commercial real estate, and agriculture real estate loan balances. This was somewhat offset by decreases in construction and land development loans, agricultural production loans, and consumer loans. The table below illustrates changes in loan balances by type over recent periods: Summary Loan Data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31,(dollars in thousands) 2025 2025 2025 2025 2024 1-4 Family residential real estate $1,043,090 $1,021,300 $992,445 $978,908 $967,196Non-owner occupied commercial real estate 912,611 918,275 888,317 897,125 882,484Owner occupied commercial real estate 460,064 454,265 442,984 440,282 435,392Multi-family real estate 452,733 445,953 422,758 405,445 376,081Construction and land development 298,412 283,912 332,405 323,499 393,388Agriculture real estate 261,118 255,610 244,983 247,027 239,912Total loans secured by real estate 3,428,028 3,379,315 3,323,892 3,292,286 3,294,453 Commercial and industrial 537,276 521,945 510,259 488,116 484,799Agriculture production 202,892 229,338 206,128 186,058 188,284Consumer 52,182 56,051 55,387 54,022 56,017All other loans 6,178 5,094 5,102 3,216 3,628Total loans 4,226,556 4,191,743 4,100,768 4,023,698 4,027,181 Deferred loan fees, net — — (178) (189) (202)Gross loans 4,226,556 4,191,743 4,100,590 4,023,509 4,026,979Allowance for credit losses (54,465) (52,081) (51,629) (54,940) (54,740)Net loans $4,172,091 $4,139,662 $4,048,961 $3,968,569 $3,972,239 Loans anticipated to fund in the next 90 days totaled $159.1 million at December 31, 2025, as compared to $194.5 million at September 30, 2025, and $172.5 million at December 31, 2024. The Bank’s concentration in non-owner occupied commercial real estate, as defined for regulatory purposes, is estimated at 289.4% of Tier 1 capital and ACL at December 31, 2025, as compared to 301.9% as of June 30, 2025, with these loans representing 39.4% of gross loans at December 31, 2025. Multi-family residential real estate, hospitality (hotels/restaurants), care facilities, strip centers, retail stand-alone, and storage units are the most common collateral types within the non-owner occupied commercial real estate loan portfolio. The multi-family residential real estate loan portfolio commonly includes loans collateralized by properties currently in the low-income housing tax credit (LIHTC) program or that have exited the program. The hospitality and retail stand-alone segments include primarily franchised businesses; care facilities consisting mainly of skilled nursing and assisted living centers; and strip centers, which can be defined as non-mall shopping centers with a variety of tenants. Non-owner-occupied office property types included 35 loans totaling $21.1 million, or 0.50% of gross loans at December 31, 2025, none of which were adversely classified, and are generally comprised of smaller spaces with diverse tenants. The Company continues to monitor its commercial real estate concentration and the individual segments closely. Nonperforming loans (NPLs) were $29.7 million, or 0.70% of gross loans, at December 31, 2025, as compared to $23.0 million, or 0.56% of gross loans at June 30, 2025. Nonperforming assets (NPAs) were $31.2 million, or 0.61% of total assets, at December 31, 2025, as compared to $23.7 million, or 0.47% of total assets, at June 30, 2025. The change in NPAs was primarily attributable to the noted increase in NPLs. The increase in NPLs was primarily attributable to two borrower relationships: one consisting of multiple loans collateralized by commercial real estate and equipment; and the other, consisting of two related agricultural production loans secured by crops and equipment, partially offset by improvement in previously nonperforming loans and net charge-offs. Both relationships noted were placed on nonaccrual status during the second quarter of fiscal 2026, resulting in the reversal of $678,000 of accrued interest during the quarter, decreasing net interest income. The ACL at December 31, 2025, totaled $54.5 million, representing 1.29% of gross loans and 184% of NPLs, as compared to an ACL of $51.6 million, representing 1.26% of gross loans and 224% of NPLs, at June 30, 2025. The Company has estimated its expected credit losses as of December 31, 2025, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. There remains, however, significant economic uncertainty despite recent reductions in short-term interest rates as labor market conditions soften, and inflation remains above target. The increase in the ACL was primarily attributable to management’s assessment of reserve adequacy amid an evolving economic environment, additions to individually reviewed loans, slightly higher reserves required for pooled loans, and loan growth. This was partially offset by net charge-offs. As a percentage of average loans outstanding, the Company recorded net recoveries of 0.07% (annualized) during the current quarter, as compared to net charge-offs of 0.02% for the same quarter of the prior fiscal year, and net charge-offs of 0.36% during the linked quarter. In the three-month period ended December 31, 2025, net recoveries were $704,000, which was primarily attributable to a $2.0 million recovery associated with a special-purpose CRE relationship, which was reserved for in the fourth quarter of fiscal 2025 and charged off in the first quarter of fiscal 2026. Total liabilities were $4.5 billion at December 31, 2025, an increase of $52.1 million, or 1.2%, as compared to June 30, 2025. Deposits were $4.3 billion at December 31, 2025, an increase of $27.0 million, or 0.63%, as compared to June 30, 2025. The deposit portfolio saw year-to-date increases in nonmaturity deposit accounts, which was partially offset by a decrease in certificates of deposit. Nonmaturity deposit growth was primarily driven by savings, NOW, and non-interest bearing accounts. The decrease in certificates of deposit was largely driven by a $54.1 million reduction in brokered certificates compared to June 30, 2025. Brokered deposits totaled $182.2 million at December 31, 2025, a decrease of $52.9 million as compared to June 30, 2025. Public unit balances totaled $584.1 million at December 31, 2025, an increase of $33.3 million compared to June 30, 2025, primarily due to seasonal inflows. The average loan-to-deposit ratio for the second quarter of fiscal 2026 was 96.7%, as compared to 94.5% for the quarter ended June 30, 2025, and 96.4% for the same period of the prior fiscal year. The table below illustrates changes in deposit balances by type over recent periods: Summary Deposit Data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31,(dollars in thousands) 2025 2025 2025 2025 2024 Non-interest bearing deposits $526,569 $501,885 $508,110 $513,418 $514,199NOW accounts 1,167,626 1,098,921 1,132,298 1,167,296 1,211,402MMDAs - non-brokered 317,987 334,492 329,837 345,810 347,271Brokered MMDAs 2,636 20,024 1,414 2,013 3,018Savings accounts 701,553 715,406 661,115 626,175 573,291Total nonmaturity deposits 2,716,371 2,670,728 2,632,774 2,654,712 2,649,181 Certificates of deposit - non-brokered 1,412,394 1,409,332 1,414,945 1,373,109 1,310,421Brokered certificates of deposit 179,569 200,430 233,649 233,561 251,025Total certificates of deposit 1,591,963 1,609,762 1,648,594 1,606,670 1,561,446 Total deposits $4,308,334 $4,280,490 $4,281,368 $4,261,382 $4,210,627 Public unit nonmaturity accounts $490,060 $424,391 $435,632 $472,010 $482,406Public unit certificates of deposit 94,039 112,963 115,204 103,741 83,506Total public unit deposits $584,099 $537,354 $550,836 $575,751 $565,912 FHLB advances were $102.0 million at December 31, 2025, a decrease of $2.0 million, or 1.9%, as compared to June 30, 2025, due to maturing advances which were not renewed. For the quarter ended December 31, 2025, the Company continued to have no FHLB overnight borrowings at the end of the period. The Company’s stockholders’ equity was $567.4 million at December 31, 2025, an increase of $22.7 million, or 4.2%, as compared to June 30, 2025. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $2.7 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to the decrease in market interest rates. The AOCL totaled $8.6 million at December 31, 2025 compared $11.4 million at June 30, 2025. The Company does not hold any securities classified as held-to-maturity. The increase in stockholders’ equity was partially offset by $8.5 million utilized for repurchase of 156,000 shares of the Company’s common stock year-to-date at an average price of $54.34 per share. Quarterly Income Statement Summary: The Company’s net interest income for the three-month period ended December 31, 2025, was $42.9 million, an increase of $4.7 million, or 12.4%, as compared to the same period of the prior fiscal year. The increase was attributable to a 5.0% increase in the average balance of interest-earning assets and a 23-basis point increase in the net interest margin, from 3.34% to 3.57%, as the cost of interest-bearing liabilities decreased by 33 basis points, partially offset by a six-basis point decrease in the yield earned on interest earning assets. Loan discount accretion and liability premium amortization related to the November 2018 acquisition of First Commercial Bank, the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2024 acquisition of Citizens Bank & Trust resulted in $653,000 in net interest income for the three-month period ended December 31, 2025, as compared to $987,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed five basis points to net interest margin in the three-month period ended December 31, 2025, compared to nine basis points during the same period of the prior fiscal year, and as compared to a seven-basis point contribution in the linked quarter, ended September 30, 2025, when the net interest margin was 3.57%. The Company recorded a PCL of $1.7 million in the three-month period ended December 31, 2025, as compared to a PCL of $932,000 in the same period of the prior fiscal year. The current period PCL had no provision attributable to the allowance for off-balance sheet credit exposures. The factors considered when estimating a required ACL and PCL for loan balances outstanding is detailed above in the “Balance Sheet Summary”. The Company’s noninterest income for the three-month period ended December 31, 2025, was $6.8 million, a decrease of $89,000, or 1.3%, as compared to the same period of the prior fiscal year. The decrease was primarily attributable to other loan fees, reflecting a refinement of our fee recognition under ASC 310-20, Receivables – Nonrefundable Fees and Other Costs, with a greater portion now recognized in interest income over the life of the loan. The decrease was partially offset by an increase in bank card interchange income, deposit account charges and related fees, and wealth management fees. Noninterest expense for the three-month period ended December 31, 2025, was $25.3 million, an increase of $394,000, or 1.6%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to higher data processing, occupancy and equipment, and advertising expenses. Data processing costs increased due to higher transaction volumes and increased software licensing costs. Occupancy and equipment expense growth was primarily driven by elevated maintenance and repair costs, additional depreciation associated with a new branch and remodel projects, and higher real estate taxes. Advertising expense increased due to increased marketing activity and charitable contributions. These increases were partially offset by lower legal and professional fees, reduced intangible amortization as certain merger-related intangibles became fully amortized, and lower compensation and benefits expense, reflecting refinements in the application of ASC 310-20, under which a greater portion of loan origination costs, including related compensation, is deferred and recognized as a reduction of interest income over the life of the loan. The efficiency ratio for the three-month period ended December 31, 2025, improved to 50.9%, as compared to 55.3% in the same period of the prior fiscal year. The improvement reflected positive operating leverage, as revenue growth driven by higher net interest income outpaced growth in operating expenses. The income tax provision for the three-month period ended December 31, 2025, was $4.5 million, consistent with the same period in 2024. The effective tax rate for the current quarter was 20.0%, compared to 23.7% for the quarter ended December 31, 2024. The higher effective tax rate in the prior-year quarter primarily reflected adjustments to tax accruals related to completed merger and acquisition activity. Forward-Looking Information: Except for the historical information contained herein, the matters discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from the forward-looking statements, including: expected cost savings, synergies and other benefits from our merger and acquisition activities, including our recently completed acquisitions, might not be realized within the anticipated time frames, to the extent anticipated, or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; potential adverse impacts to economic conditions both nationally and in our local market areas and other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; the strength of the United States economy in general and the strength of the local economies in which we conduct operations; fluctuations in interest rates and inflation, including the effects of a potential recession whether caused by Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) actions or otherwise or slowed economic growth caused by changes in oil prices or supply chain disruptions; the impact of monetary and fiscal policies of the Federal Reserve Board and the U.S. Government or other governmental initiatives affecting the financial services industry; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the ACL on loans; our ability to access cost-effective funding and maintain sufficient liquidity; the timely development of and acceptance of new products and services and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors’ products and services; fluctuations in real estate values in both residential and commercial real estate markets, as well as agricultural business conditions; fluctuations in the demand for loans and deposits, including our ability to attract and retain deposits; the impact of a federal government shutdown; legislative or regulatory changes that adversely affect our business; the effects of climate change, severe weather events, other natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates; changes in accounting principles, policies, or guidelines; results of examinations of us by our regulators, including the impact on FDIC insurance premiums and the possibility that our regulators may, among other things, require an increase in our reserve for credit losses on loans or a write-down of assets; the impact of technological changes and an inability to keep pace with the rate of technological advances; the inability of key third party providers to perform their obligations to us; cyber threats, such as phishing, ransomware, and insider attacks, which can lead to financial loss, reputational damage, and regulatory penalties if sensitive customer data and critical infrastructure are not adequately protected; our ability to retain key members of our management team; and our success at managing the risks involved in the foregoing. Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements. Non-GAAP Financial Measures: Tangible common equity and tangible book value per common share are financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental and are not intended to be a substitute for analyses based on GAAP measures. As other companies may utilize different methodologies for calculating these measures, this presentation may not be comparable to similarly titled measures used by other institutions. Tangible common equity is calculated by excluding intangible assets from common stockholders’ equity. Tangible book value per common share is calculated by dividing tangible common equity by common shares outstanding, less restricted common shares not vested. For comparison, book value per common share is calculated by dividing common stockholders’ equity by common shares outstanding, less restricted common shares not vested. This approach is consistent with the treatment applied by bank regulatory agencies, which generally exclude intangible assets from the calculation of risk-based capital ratios. Each of these non-GAAP financial measures provides information considered important to investors and is useful in understanding the Company’s capital position. Calculations of tangible common equity and tangible book value per common share to the corresponding GAAP measures of common stockholders’ equity and book value per common share are presented below. Southern Missouri Bancorp, Inc. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION Summary Balance Sheet Data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Cash equivalents and time deposits $134,309 $124,358 $193,105 $227,136 $146,078 Available for sale (AFS) securities 444,965 453,855 460,844 462,930 468,060 FHLB/FRB membership stock 18,552 18,489 18,500 18,269 18,099 Loans held for sale 1,271 277 431 — — Loans receivable, gross 4,226,556 4,191,743 4,100,590 4,023,509 4,026,979 Allowance for credit losses 54,465 52,081 51,629 54,940 54,740 Loans receivable, net 4,172,091 4,139,662 4,048,961 3,968,569 3,972,239 Bank-owned life insurance 76,793 76,240 75,691 75,156 74,643 Intangible assets 72,049 72,866 73,721 74,677 75,399 Premises and equipment 94,560 95,211 95,982 95,987 96,418 Other assets 79,797 55,374 52,372 53,772 56,738 Total assets $5,094,387 $5,036,332 $5,019,607 $4,976,496 $4,907,674 Interest-bearing deposits $3,781,765 $3,778,605 $3,773,258 $3,747,964 $3,696,428 Noninterest-bearing deposits 526,569 501,885 508,110 513,418 514,199 Securities sold under agreements to repurchase 20,000 20,000 15,000 15,000 15,000 FHLB advances 102,041 102,029 104,052 104,072 107,070 Other liabilities 73,417 50,371 51,287 44,057 39,424 Subordinated debt 23,235 23,221 23,208 23,195 23,182 Total liabilities 4,527,027 4,476,111 4,474,915 4,447,706 4,395,303 Total stockholders’ equity 567,360 560,221 544,692 528,790 512,371 Total liabilities and stockholders’ equity $5,094,387 $5,036,332 $5,019,607 $4,976,496 $4,907,674 Equity to assets ratio 11.14% 11.12% 10.85% 10.63% 10.44% Common shares outstanding 11,142,733 11,290,667 11,299,467 11,299,962 11,277,167 Less: Restricted common shares not vested 49,075 48,675 50,163 50,658 46,653 Common shares for book value determination 11,093,658 11,241,992 11,249,304 11,249,304 11,230,514 Book value per common share $51.14 $49.83 $48.42 $47.01 $45.62 Less: Intangible assets per common share 6.49 6.48 6.55 6.64 6.71 Tangible book value per common share(1) 44.65 43.35 41.87 40.37 38.91 Closing market price 59.12 52.56 54.78 52.02 57.37 (1) Non-GAAP financial measure. Nonperforming asset data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 Nonaccrual loans $29,655 $26,031 $23,040 $21,970 $8,309 Accruing loans 90 days or more past due — — — — — Total nonperforming loans 29,655 26,031 23,040 21,970 8,309 Other real estate owned (OREO) 1,536 1,006 625 1,775 2,423 Personal property repossessed 5 45 32 56 37 Total nonperforming assets $31,196 $27,082 $23,697 $23,801 $10,769 Total nonperforming assets to total assets 0.61% 0.54% 0.47% 0.48% 0.22% Total nonperforming loans to gross loans 0.70% 0.62% 0.56% 0.55% 0.21% Allowance for credit losses to nonperforming loans 183.66% 200.07% 224.08% 250.07% 658.80% Allowance for credit losses to gross loans 1.29% 1.24% 1.26% 1.37% 1.36% Performing modifications to borrowers experiencing financial difficulty $32,048 $27,072 $26,642 $23,304 $24,083 For the three-month period endedQuarterly Summary Income Statement Data: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31,(dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Interest income: Cash equivalents $1,059 $1,114 $1,698 $1,585 $784AFS securities and membership stock 5,198 5,456 5,586 5,684 5,558Loans receivable 65,975 66,460 63,354 62,656 63,082Total interest income 72,232 73,030 70,638 69,925 69,424Interest expense: Deposits 27,699 28,940 28,644 28,795 29,538Securities sold under agreements to repurchase 204 200 191 189 226FHLB advances 1,080 1,081 1,080 1,076 1,099Subordinated debt 379 391 390 386 418Total interest expense 29,362 30,612 30,305 30,446 31,281Net interest income 42,870 42,418 40,333 39,479 38,143Provision for credit losses 1,680 4,500 2,500 932 932Noninterest income: Deposit account charges and related fees 2,429 2,365 2,156 2,048 2,237Bank card interchange income 1,614 1,530 1,839 1,341 1,301Loan servicing fees 250 263 167 224 232Other loan fees 164 194 917 843 944Net realized gains on sale of loans 167 175 143 114 133Net realized gains on sale of AFS securities — — — 48 —Earnings on bank owned life insurance 552 548 533 512 522Insurance brokerage commissions 345 319 368 340 300Wealth management fees 936 851 825 902 843Other noninterest income 319 328 332 294 353Total noninterest income 6,776 6,573 7,280 6,666 6,865Noninterest expense: Compensation and benefits 13,651 13,065 13,852 13,771 13,737Occupancy and equipment, net 3,834 3,788 3,745 3,869 3,585Data processing expense 2,666 2,513 2,573 2,359 2,224Telecommunications expense 309 347 312 330 354Deposit insurance premiums 600 620 601 674 588Legal and professional fees 478 1,075 1,165 603 619Advertising 538 614 551 530 442Postage and office supplies 333 300 336 350 283Intangible amortization 808 857 857 889 897Foreclosed property expenses, net 31 58 (18) 37 73Other noninterest expense 2,022 1,814 2,002 1,979 2,074Total noninterest expense 25,270 25,051 25,976 25,391 24,876Net income before income taxes 22,696 19,440 19,137 19,822 19,200Income taxes 4,546 3,790 3,351 4,139 4,547Net income 18,150 15,650 15,786 15,683 14,653Less: Distributed and undistributed earnings allocated to participating securities 79 67 71 71 61Net income available to common shareholders $18,071 $15,583 $15,715 $15,612 $14,592 Basic earnings per common share $1.62 $1.39 $1.40 $1.39 $1.30Diluted earnings per common share 1.62 1.38 1.39 1.39 1.30Dividends per common share 0.25 0.25 0.23 0.23 0.23Average common shares outstanding: Basic 11,153,000 11,247,000 11,250,000 11,238,000 11,231,000Diluted 11,179,000 11,272,000 11,270,000 11,262,000 11,260,000 For the three-month period ended Quarterly Average Balance Sheet Data: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 Interest-bearing cash equivalents $103,156 $97,948 $151,380 $143,206 $64,976 AFS securities and membership stock 478,219 493,125 498,491 508,642 479,633 Loans receivable, gross 4,181,158 4,118,859 4,018,769 4,003,552 3,989,643 Total interest-earning assets 4,762,533 4,709,932 4,668,640 4,655,400 4,534,252 Other assets 321,042 302,630 299,217 290,739 291,217 Total assets $5,083,575 $5,012,562 $4,967,857 $4,946,139 $4,825,469 Interest-bearing deposits $3,782,764 $3,741,361 $3,727,836 $3,737,849 $3,615,767 Securities sold under agreements to repurchase 20,000 18,043 15,000 15,000 15,000 FHLB advances 102,046 102,410 104,053 106,187 107,054 Subordinated debt 23,228 23,215 23,201 23,189 23,175 Total interest-bearing liabilities 3,928,038 3,885,029 3,870,090 3,882,225 3,760,996 Noninterest-bearing deposits 541,110 533,809 524,860 513,157 524,878 Other noninterest-bearing liabilities 51,411 41,937 37,014 31,282 31,442 Total liabilities 4,520,559 4,460,775 4,431,964 4,426,664 4,317,316 Total stockholders’ equity 563,016 551,787 535,893 519,475 508,153 Total liabilities and stockholders’ equity $5,083,575 $5,012,562 $4,967,857 $4,946,139 $4,825,469 Return on average assets 1.42% 1.24% 1.27% 1.29% 1.20%Return on average common stockholders’ equity 12.8% 11.3% 11.8% 12.2% 11.4% Net interest margin 3.57% 3.57% 3.47% 3.44% 3.34%Net interest spread 3.05% 3.02% 2.93% 2.91% 2.77% Efficiency ratio 50.9% 51.1% 54.6% 55.1% 55.3% Stefan Chkautovich, CFO 573-778-1800 Source: Southern Missouri Bancorp, Inc.