Southern Missouri Bancorp sees Q3 EPS 22c vs. $1.04 a year ago

Reports Q3 preliminary net income of $2.4M, a decrease of $6.9M or 74.2%, as compared to the same period of the prior fiscal year. The decrease in net income was attributable primarily to merger-related charges including noninterest expense of $3.3M and provision for credit losses on the acquired loan portfolio and off-balance sheet credit exposures totaling $7.0M. Inclusive of these non-recurring charges, the decline in net income was the result of increases in noninterest expense and the provision for credit losses, partially offset by increases in net interest income and noninterest income, and a decrease in provision for income taxes. Reports nonperforming assets were $12.7M, 0.30% of total assets, at March 31 as compared to $7.1M, or 0.22% of total assets, at March 31, 2022.