Southern Missouri Bancorp, Inc. Declares Quarterly Dividend, Payable on February 27, 2015; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
January 26, 2015 at 10:50 pm
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Southern Missouri Bancorp, Inc. declared its quarterly dividend on common stock since the inception of the company. The cash dividend of $0.085 to be paid February 27, 2015, to shareholders of record as of February 13, 2015.
The company reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, return on average assets was 1.06%, while return on average common equity was 12.5%, as compared to a 1.09% return on average assets and 11.7% return on average common equity in the year ago period. The company reported total interest income of $14.358 million compared to $10.238 million, net interest income of $12.162 million compared to $8.331 million, net income available to common shareholders of $3.387 million or $0.89 per diluted share compared to $2.469 million or $0.73 per diluted share for the last year.
For the six months, return on average assets was 1.07%, while return on average common equity was 12.8%, as compared to a 1.18% return on average assets and 12.8% return on average common equity in the year ago period. The company reported total interest income of $27.576 million compared to $19.403 million, net interest income of $23.291 million compared to $15.704 million, net income available to common shareholders of $6.636 million or $1.78 per diluted share compared to $4.982 million or $1.47 per diluted share for the last year. Book value per share was $29.95. This increase was also attributable to growth in net interest income and noninterest income, partially offset by increased noninterest expense, provision for loan losses, and provision for income taxes.
Southern Missouri Bancorp, Inc. is a bank holding company and the parent company of Southern Bank (Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individuals and corporate customers in its market areas. The principal business of the Bank consists of attracting retail deposits from the general public and using such deposits along with wholesale funding from the Federal Home Loan Bank of Des Moines, (FHLB), and brokered deposits, to invest in one- to-four-family residential mortgage loans, mortgage loans secured by commercial real estate, commercial non-mortgage business loans, construction loans, and consumer loans. These funds are also used to purchase mortgage-backed and related securities (MBS), municipal bonds, and other permissible investments. The Bank conducts its business from its headquarters in Poplar Bluff, as well as about 62 full-service branch offices and three limited-service branch offices.
Southern Missouri Bancorp, Inc. Declares Quarterly Dividend, Payable on February 27, 2015; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014