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NOTE 20: Condensed Parent Company Only Financial Statements | 12 Months Ended
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Jun. 30, 2019
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:
| June 30,
(dollars in thousands) | 2019 | 2018
Condensed Balance Sheets |  |
Assets |  |
Cash and cash equivalents | $ 8,149 | $ 8,383
Other assets | 13,438 | 13,434
Investment in common stock of Bank | 234,716 | 197,863
TOTAL ASSETS | $ 256,303 | $ 219,680
Liabilities and Stockholders' Equity |  |
Accrued expenses and other liabilities | $ 2,868 | $ 4,041
Subordinated debt | 15,043 | 14,945
TOTAL LIABILITIES | 17,911 | 18,986
Stockholders' equity | 238,392 | 200,694
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 256,303 | $ 219,680
| Year ended June 30,
(dollars in thousands) | 2019 | 2018 | 2017
Condensed Statements of Income |  |  |
Interest income | $ 25 | $ 20 | $ 17
Interest expense | 1,079 | 887 | 661
Net interest expense | (1,054) | (867) | (644)
Dividends from Bank | 23,000 | 6,000 | 4,000
Operating expenses | 827 | 940 | 955
Income before income taxes and |  |  |
equity in undistributed income of the Bank | 21,119 | 4,193 | 2,401
Income tax benefit | 358 | 437 | 455
Income before equity in undistributed |  |  |
income of the Bank | 21,477 | 4,630 | 2,856
Equity in undistributed income of the Bank | 7,427 | 16,299 | 12,696
NET INCOME | $ 28,904 | $ 20,929 | $ 15,552
COMPREHENSIVE INCOME | $ 32,496 | $ 18,057 | $ 14,417
| Year ended June 30,
(dollars in thousands) | 2019 | 2018 | 2017
Condensed Statements of Cash Flow |  |  |
Cash Flows from operating activities: |  |  |
Net income | $ 28,904 | $ 20,929 | $ 15,552
Changes in: |  |  |
Equity in undistributed income of the Bank | (7,427) | (16,299) | (12,696)
Other adjustments, net | (635) | 40 | 412
NET CASH PROVIDED BY OPERATING ACTIVITES | 20,842 | 4,670 | 3,268
Cash flows from investing activities: |  |  |
Investments in Bank subsidiaries | (10,747) | (3,488) | (11,062)
NET CASH USED IN INVESTING ACTIVITIES | (10,747) | (3,488) | (11,062)
Cash flows from financing activities: |  |  |
Dividends on common stock | (4,763) | (3,827) | (2,981)
Exercise of stock options | - | 172 | 61
Payments to acquire treasury stock | (1,166) | - | -
Proceeds from issuance of common stock | - | - | 24,144
Proceeds from issuance of long term debt | - | - | 15,000
Repayments of long term debt | (4,400) | - | (15,650)
Injection of capital to subsidiary | - | - | (6,000)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (10,329) | (3,655) | 14,574
Net increase (decrease) in cash and cash equivalents | (234) | (2,473) | 6,780
Cash and cash equivalents at beginning of year | 8,383 | 10,856 | 4,076
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 8,149 | $ 8,383 | $ 10,856

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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/disclosureRef -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 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -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 + Details
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