Southern Missouri Bancorp (SMBC) investor relations material

Executive summary

• Q1 FY27 net income was $19.1M, up $3.4M or 22.0% YoY, driven by higher net interest income, lower provision for credit losses and higher noninterest income.

• Diluted EPS was $1.73, up $0.35 or 25.4% YoY and down $0.10 or 5.5% QoQ.

• Total assets reached $5.3B at Sep. 30, 2026, up $74.4M or 1.4% from June 30, 2026.

Financial highlights

• Net interest income was $45.9M, up 8.3% YoY and 3.5% QoQ; NIM was 3.70%, versus 3.57% YoY and 3.67% QoQ.

• Gross loans rose $63.9M or 1.5% QoQ and $263.9M or 6.3% over 12 months; deposits grew $66.1M or 1.5% QoQ and $193.5M or 4.5% over 12 months.

• Noninterest income was $7.1M, up $573K or 8.7% YoY; merchant program income, deposit fees, bank-card interchange and a tax-credit investment gain partly offset lower other loan fees.

• Noninterest expense was $26.6M, up $1.5M or 6.1% YoY and $1M or 4% QoQ; compensation and benefits, other expense, and occupancy and equipment led the QoQ increase.

• Provision for credit losses was $3.0M, down $1.5M YoY and $240K QoQ; net charge-offs were $494K, or 0.04% of average loans annualized.

Outlook and guidance

• FY2027 loan growth guidance remains mid-single digits; growth is expected to soften in the December quarter, with March historically the softest and a seasonal ramp-up typically in Q4.

• FY expense growth guidance remains mid-single digits to high single digits; salary and benefits are expected to rise further in March due to merit increases.

• Near-term margin compression is expected from rate sensitivity and seasonal balance-sheet mix; a low-360-bps year-end exit is possible, with NIM expected to rise in Q4 as higher-spread loans grow and rates contribute.

• Non-performing assets are expected to be meaningfully lower by fiscal year-end, though timing of individual workouts remains uncertain.