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NOTE 20: Condensed Parent Company Only Financial Statements | 12 Months Ended
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Jun. 30, 2018
Notes |
NOTE 20: Condensed Parent Company Only Financial Statements | NOTE 20: 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:
(dollars in thousands) |  | June 30,
Condensed Balance Sheets |  | 2018 | 2017
Assets |  |  |
Cash and cash equivalents |  | $ 8,383 | $ 10,856
Other assets |  | 13,434 | 8,991
Investment in common stock of Bank |  | 197,863 | 172,199
| TOTAL ASSETS | $ 219,680 | $ 192,046
Liabilities and Stockholders' Equity |  |  |
Accrued expenses and other liabilities |  | $ 4,041 | $ 4,115
Subordinated debt |  | 14,945 | 14,848
| TOTAL LIABILITIES | 18,986 | 18,963
Stockholders' equity |  | 200,694 | 173,083
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 219,680 | $ 192,046
(dollars in thousands) |  | Year ended June 30,
Condensed Statements of Income |  | 2018 | 2017 | 2016
Interest income |  | $ 20 | $ 17 | $ 14
Interest expense |  | 887 | 661 | 568
Net interest expense |  | (867) | (644) | (554)
Dividends from Bank |  | 6,000 | 4,000 | 23,600
Operating expenses |  | 940 | 955 | 294
Income before income taxes and |  |  |  |
equity in undistributed income of the Bank |  | 4,193 | 2,401 | 22,752
Income tax benefit |  | 437 | 455 | 325
Income before equity in undistributed |  |  |  |
income of the Bank |  | 4,630 | 2,856 | 23,077
Equity in undistributed income of the Bank |  | 16,299 | 12,696 | (8,229)
| NET INCOME | $ 20,929 | $ 15,552 | $ 14,848
| COMPREHENSIVE INCOME | $ 18,057 | $ 14,417 | $ 15,649
(dollars in thousands) |  | Year ended June 30,
Condensed Statements of Cash Flow |  | 2018 | 2017 | 2016
Cash Flows from operating activities: |  |  |  |
Net income |  | $ 20,929 | $ 15,552 | $ 14,848
Changes in: |  |  |  |
Equity in undistributed income of the Bank | (16,299) | (12,696) | 8,229
Other adjustments, net |  | 40 | 412 | 401
NET CASH PROVIDED BY OPERATING ACTIVITES | 4,670 | 3,268 | 23,478
Cash flows from investing activities: |  |  |  |
Proceeds from sale of real estate |  | - | - | 2,407
Investments in Bank subsidiaries |  | (3,488) | (11,062) | -
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (3,488) | (11,062) | 2,407
Cash flows from financing activities: |  |  |  |
Dividends on preferred stock |  | - | - | (135)
Dividends on common stock |  | (3,827) | (2,981) | (2,675)
Exercise of stock options |  | 172 | 61 | 99
Redemption of preferred stock |  | - | - | (20,000)
Proceeds from issuance of common stock | - | 24,144 | -
Proceeds from issuance of long term debt | - | 15,000 | -
Repayments of long term debt |  | - | (15,650) | -
Injection of capital to subsidiary |  | - | (6,000) | -
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (3,655) | 14,574 | (22,711)
Net increase (decrease) in cash and cash equivalents | (2,473) | 6,780 | 3,174
Cash and cash equivalents at beginning of year |  | 10,856 | 4,076 | 902
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 8,383 | $ 10,856 | $ 4,076

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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