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SOUTHERN MISSOURI BANCORP, INC -- CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Mar. 31, 2011
INTEREST INCOME:        
Loans $ 9,077,557 $ 9,626,619 $ 27,890,260 $ 23,017,959
Investment securities 379,900 320,730 1,122,083 954,957
Mortgage-backed securities 224,338 324,188 745,727 1,070,907
Other interest-earning assets 73,414 24,525 154,336 86,398
Total interest income 9,755,209 10,296,062 29,912,406 25,130,221
INTEREST EXPENSE:        
Deposits 2,011,104 2,455,785 6,457,288 6,874,108
Securities sold under agreements to repurchase 64,958 60,536 184,002 195,208
Advances from FHLB of Des Moines 310,193 332,012 988,975 1,218,642
Subordinated debt 59,593 55,085 173,360 171,150
Total interest expense 2,445,848 2,903,418 7,803,625 8,459,108
NET INTEREST INCOME 7,309,361 7,392,644 22,108,781 16,671,113
PROVISION FOR LOAN LOSSES 215,338 1,195,891 1,077,454 2,112,100
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 7,094,023 6,196,753 21,031,327 14,559,013
NONINTEREST INCOME:        
Deposit account charges and related fees 379,825 393,970 1,128,017 1,182,950
Bank credit transaction fees 278,595 221,990 805,977 633,485
Loan late charges 53,560 44,567 169,993 160,518
Other loan fees 22,593 46,246 121,901 155,125
Net realized gains on sale of loans 89,834 34,527 232,866 85,693
Bargain purchase gain on acquisitions       6,996,750
Earnings on Bank owned life insurance 71,179 68,805 214,130 207,571
Other noninterest income 58,933 40,196 297,211 114,550
Total noninterest income 954,519 850,301 2,970,095 9,536,642
NONINTEREST EXPENSE:        
Compensation and benefits 2,418,341 2,281,737 6,944,735 5,803,040
Occupancy and equipment, net 679,075 518,884 1,880,776 1,681,825
Deposit insurance premiums 94,126 164,542 277,261 467,599
Legal and professional fees 145,362 82,385 338,436 406,584
Advertising 89,403 74,698 256,621 174,504
Postage and office supplies 115,941 96,789 348,819 265,340
Intangible amortization 104,283 104,283 312,849 250,353
Bank card network fees 136,041 104,309 398,859 302,410
Other operating expense 1,083,821 640,864 1,774,771 1,273,453
Total noninterest expense 4,866,393 4,068,491 12,533,127 10,625,108
INCOME BEFORE INCOME TAXES 3,182,149 2,978,563 11,468,295 13,470,547
INCOME TAXES 1,006,107 1,000,571 3,767,421 4,613,809
NET INCOME 2,176,042 1,977,992 7,700,874 8,856,738
Less: effective dividend on preferred shares 50,000 128,011 402,111 383,724
Net income available to common shareholders $ 2,126,042 $ 1,849,981 $ 7,298,763 $ 8,473,014
Basic earnings per common share $ 0.65 $ 0.88 $ 2.76 $ 4.06
Diluted earnings per common share $ 0.64 $ 0.86 $ 2.67 $ 3.93
Dividends per common share $ 0.12 $ 0.12 $ 0.36 $ 0.36