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Note 21: Condensed Parent Company Only Financial Statements | 12 Months Ended
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Jun. 30, 2014
Notes |
Note 21: Condensed Parent Company Only Financial Statements | NOTE 21: Condensed Parent Company Only Financial Statements The following condensed balance sheets, statements of income and comprehensive income and cash flows for Southern Missouri Bancorp, Inc. should be read in conjunction with the consolidated financial statements and the notes thereto:
| June 30
Condensed Balance Sheets | 2014 | 2013
Assets |  |
Cash and cash equivalents | $5,700,236 | $16,576,832
Other assets | 6,856,150 | 6,771,627
Investment in common stock of Bank | 108,331,322 | 85,798,652
TOTAL ASSETS | $120,887,708 | $109,147,111
Liabilities and Stockholder's Equity |  |
Accrued expenses and other liabilities | $50,433 | $100,758
Subordinated debt | 9,726,545 | 7,217,000
TOTAL LIABILITIES | 9,776,978 | 7,317,758
Stockholder's equity | 111,110,730 | 101,829,353
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $120,887,708 | $109,147,111
| Year ended June 30,
Condensed Statements of Income | 2014 | 2013 | 2012
Interest income | $254,988 | $311,013 | $110,741
Interest expense | 304,719 | 227,127 | 232,154
Net interest income (expense) | (49,731) | 83,886 | (121,413)
Dividends from Bank | 3,000,000 | 3,000,000 | 2,700,000
Operating expenses | 1,141,037 | 368,747 | 410,759
Income before income taxes and |  |  |
equity in undistributed income of the Bank | 1,809,232 | 2,715,139 | 2,167,828
Income tax benefit | 444,000 | 107,000 | 199,000
Income before equity in undistributed |  |  |
income of the Bank | 2,253,232 | 2,822,139 | 2,366,828
Equity in undistributed income |  |  |
Equity in undistributed income of the Bank | 7,827,869 | 7,245,076 | 7,731,435
NET INCOME | $10,081,101 | $10,067,215 | $10,098,263
COMPREHENSIVE INCOME | $10,848,045 | $9,188,374 | $10,262,544
| Year ended June 30,
Condensed Statements of Cash Flow | 2014 | 2013 | 2012
Cash Flows from operating activities: |  |  |
Net income | $10,081,101 | $10,067,215 | $10,098,263
Changes in: |  |  |
Equity in undistributed income of the Bank | (7,634,818) | (7,245,076) | (7,731,435)
Other adjustments, net | (128,450) | 482,570 | (476,769)
NET CASH PROVIDED BY OPERATING ACTIVITES | 2,317,833 | 3,304,709 | 1,890,059
Cash flows from investing activities: |  |  |
Proceeds from (investment in) loan participations | 3,912,536 | 215,536 | (6,721,160)
Proceeds from sale of real estate | 849,545 | - | -
Purchases of premises and equipment | (3,256,742) | - | -
Investments in Bank subsidiaries | (11,987,905) | (100) | -
Capital pushdown to Bank | (692,029) |  |
Investments in state and federal tax credits | (225,000) |  |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (11,399,595) | 215,436 | (6,721,160)
Cash flows from financing activities: |  |  |
Proceeds from issuance of preferred stock | - | - | 19,973,208
Proceeds from issuance of common stock | - | - | 19,914,349
Dividends on preferred stock | (200,000) | (411,553) | (368,760)
Dividends on common stock | (2,118,826) | (1,974,924) | (1,283,928)
Exercise of stock options | 523,992 | 100,518 | 22,845
Redemption of preferred stock | - | - | (9,550,000)
Investments in bank subsidiary | - | - | (9,350,000)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (1,794,834) | (2,285,959) | 19,357,714
Net increase (decrease) in cash and cash equivalents | (10,876,596) | 1,234,186 | 14,526,613
Cash and cash equivalents at beginning of year | 16,576,832 | 15,342,646 | 816,033
CASH AND CASH EQUIVALENTS AT END OF YEAR | $5,700,236 | $16,576,832 | $15,342,646

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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