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Condensed Parent Company Only Financial Statements | 12 Months Ended
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Jun. 30, 2023
Condensed Parent Company Only Financial Statements |
Condensed Parent Company Only Financial Statements | NOTE 17: 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) | ​ | 2023 |  | 2022
Condensed Balance Sheets | ​ | ​
Assets | ​ | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 13,442 | ​ | $ | 8,964
Other assets | ​ | ​ | 52,178 | ​ | ​ | 28,691
Investment in common stock of Bank | ​ | ​ | 404,247 | ​ | ​ | 306,549
TOTAL ASSETS | ​ | $ | 469,867 | ​ | $ | 344,204
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders' Equity | ​ | ​ |  | ​ | ​ |
Accrued expenses and other liabilities | ​ | $ | 704 | ​ | $ | 377
Subordinated debt | ​ | ​ | 23,105 | ​ | ​ | 23,055
TOTAL LIABILITIES | ​ | ​ | 23,809 | ​ | ​ | 23,432
Stockholders' equity | ​ | ​ | 446,058 | ​ | ​ | 320,772
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 469,867 | ​ | $ | 344,204
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) | ​ | 2023 | ​ | 2022 |  | 2021
Condensed Statements of Income | ​ | ​
Interest income | ​ | $ | 32 | ​ | $ | 14 | ​ | $ | 13
Interest expense | ​ |  | 1,439 | ​ | ​ | 686 | ​ | ​ | 534
Net interest expense | ​ |  | (1,407) | ​ | ​ | (672) | ​ | ​ | (521)
Dividends from Bank | ​ | ​ | 48,000 | ​ | ​ | 31,000 | ​ | ​ | 12,000
Operating expenses | ​ | ​ | 3,041 | ​ | ​ | 1,124 | ​ | ​ | 599
Income before income taxes and equity in undistributed income of the Bank | ​ | ​ | 43,552 | ​ | ​ | 29,204 | ​ | ​ | 10,880
Income tax benefit | ​ | ​ | 552 | ​ | ​ | 321 | ​ | ​ | 235
Income before equity in undistributed income of the Bank | ​ | ​ | 44,104 | ​ | ​ | 29,525 | ​ | ​ | 11,115
Equity in undistributed income of the Bank | ​ | ​ | (4,867) | ​ | ​ | 17,644 | ​ | ​ | 36,065
NET INCOME | ​ | $ | 39,237 | ​ | $ | 47,169 | ​ | $ | 47,180
COMPREHENSIVE INCOME | ​ | $ | 34,799 | ​ | $ | 26,800 | ​ | $ | 45,615
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Condensed Statements of Cash Flow | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from operating activities: | ​ | ​
Net income | ​ | $ | 39,237 | ​ | $ | 47,169 | ​ | $ | 47,180
Changes in: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed income of the Bank | ​ |  | 4,867 | ​ | ​ | (17,644) | ​ | ​ | (36,065)
Other adjustments, net | ​ | ​ | 388 | ​ | ​ | (698) | ​ | ​ | (559)
NET CASH PROVIDED BY OPERATING ACTIVITES | ​ | ​ | 44,492 | ​ | ​ | 28,827 | ​ | ​ | 10,556
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in Bank subsidiaries | ​ | ​ | (31,382) | ​ | ​ | (8,024) | ​ | ​ | —
NET CASH USED IN INVESTING ACTIVITIES | ​ | ​ | (31,382) | ​ | ​ | (8,024) | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends on common stock | ​ | ​ | (8,632) | ​ | ​ | (7,194) | ​ | ​ | (5,598)
Payments to acquire treasury stock | ​ | ​ | — | ​ | ​ | (5,838) | ​ | ​ | (8,341)
NET CASH USED IN FINANCING ACTIVITIES | ​ | ​ | (8,632) | ​ | ​ | (13,032) | ​ | ​ | (13,939)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash and cash equivalents | ​ | ​ | 4,478 | ​ | ​ | 7,771 | ​ | ​ | (3,383)
Cash and cash equivalents at beginning of year | ​ | ​ | 8,964 | ​ | ​ | 1,193 | ​ | ​ | 4,576
CASH AND CASH EQUIVALENTS AT END OF YEAR | ​ | $ | 13,442 | ​ | $ | 8,964 | ​ | $ | 1,193
​

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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