SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FOURTH QUARTER OF FISCAL 2026; DECLARES QUARTERLY DIVIDEND OF $0.27 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, JULY 23, AT 9:30 AM CENTRAL TIME

Poplar Bluff, Missouri, July 22, 2026 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the fourth quarter of fiscal 2026 of $20.3 million, an increase of $4.5 million or 28.5%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to higher net interest income, lower provision for income taxes, a decrease in noninterest expense, and an increase in noninterest income, partially offset by higher provision for credit losses (PCL). Preliminary net income was $1.83 per fully diluted common share for the fourth quarter of fiscal 2026, an increase of $0.44 as compared to the $1.39 per fully diluted common share reported for the same period of the prior fiscal year. For the full fiscal year 2026, preliminary net income was $71.8 million, an increase of $13.3 million, or 22.6%, when compared to fiscal year 2025, while diluted earnings per share for fiscal year 2026 were $6.43, an increase of $1.25, or 24.1%, as compared to fiscal year 2025.

Highlights for the fourth quarter of fiscal 2026:

• Earnings per common share (diluted) were $1.83, up $0.44, or 31.7%, as compared to the same quarter a year ago, and up $0.23, or 14.4%, from the third quarter of fiscal 2026, the linked quarter.
  
  
• Annualized return on average assets (ROA) was 1.57%, while annualized return on average common equity (ROE) was 14.0%, as compared to 1.27% and 11.8%, respectively, in the same quarter a year ago, and 1.41% and 12.6%, respectively, in the third quarter of fiscal 2026, the linked quarter.
  
  
• Net interest margin for the quarter was 3.67%, up from 3.47% reported for the year ago period, and unchanged from the third quarter of fiscal 2026, the linked quarter. Net interest income increased $4.1 million, or 10.1%, as compared to the same quarter a year ago, and increased $1.3 million, or 2.9%, as compared to the third quarter of fiscal 2026, the linked quarter. Net interest income in the fourth quarter of fiscal 2026 included a $603,000 reversal of accrued interest related to an agricultural production relationship placed on nonaccrual status, reducing net interest margin by approximately five basis points.
  
  
• PCL was $3.2 million during the fourth quarter of fiscal 2026, a $694,000 increase from the year ago period and a $1.1 million increase from the third quarter of fiscal 2026, the linked quarter. The increase was primarily driven by higher net charge-offs, higher reserves required for pooled loans driven largely by the Bank’s annual ACL model update, and to support loan growth. See “Balance Sheet Summary” below for more detailed information regarding nonperforming loans and allowance for credit losses (ACL).
  
  
• Gross loan balances increased by $69.4 million during the fourth quarter, and increased by $291.2 million, or 7.1%, for the full fiscal year 2026.
  
  
• Deposit balances increased by $66.9 million during the fourth quarter, and increased by $126.5 million, or 3.0%, for the full fiscal year 2026.
  
  
• Tangible book value per share was $47.43, having increased by $5.56, or 13.3%, as compared to June 30, 2025.
  
  
• The Company repurchased 4,000 shares of its common stock in the fourth quarter of fiscal 2026 at an average price of $69.10 per share, for a total of $291,000. For the full fiscal year 2026, the Company repurchased 317,000 shares of its common stock at an average price of $58.59 per share, for a total of $18.6 million. The average purchase price of shares purchased in fiscal 2026 was 124% of tangible book value as of June 30, 2026.
  
  

Dividend Declared:

The Board of Directors, on July 21, 2026, declared a quarterly cash dividend on common stock of $0.27 per share, payable August 31, 2026, to stockholders of record at the close of business on August 14, 2026, marking the 129th consecutive quarterly dividend since the inception of the Company. The dividend represents an increase of $0.02 per share, or 8.0%, as compared to the previous quarterly dividend payment. The Board of Directors and management believe the payment of a quarterly cash dividend enhances stockholder value and demonstrates our commitment to and confidence in our future prospects.

Conference Call:

The Company will host a conference call to review the information provided in this press release on Thursday, July 23, 2026, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-800-715-9871 in the United States and from all other locations by calling 1-646-307-1963. Participants should use participant access code 3159664. Telephone playback will be available beginning one hour following the conclusion of the call through July 28, 2026. The playback may be accessed by dialing 1-800-770-2030 in the United States and Canada, and using the conference passcode 3159664.

Balance Sheet Summary:

The Company experienced balance sheet growth in fiscal 2026, with total assets of $5.2 billion at June 30, 2026, reflecting an increase of $215.3 million, or 4.3%, as compared to June 30, 2025. Growth primarily reflected increases in net loans receivable and investments in tax credits in the other assets category, partially offset by decreases in cash equivalents and time deposits and available for sale (AFS) securities.

Cash equivalents and time deposits were $91.0 million at June 30, 2026, a decrease of $102.1 million, or 52.9%, as compared to June 30, 2025. The decrease was primarily the result of loan generation that outpaced deposit growth during the period, which was partially offset by earnings retention after cash dividends paid. AFS securities were $450.8 million at June 30, 2026, down $10.1 million, or 2.2%, as compared to June 30, 2025.

Loans, net of the ACL, were $4.3 billion at June 30, 2026, an increase of $287.9 million, or 7.1%, as compared to June 30, 2025. Gross loan balances increased by $291.2 million, or 7.1%, while the ACL attributable to outstanding loan balances increased $3.3 million, or 6.4%, as compared to June 30, 2025. The Company noted growth primarily in 1-4 family residential real estate, agriculture real estate, multi-family real estate, commercial and industrial, non-owner occupied commercial real estate, owner occupied commercial real estate, and agriculture production loan balances. This was partially offset by decreases in construction and land development, and consumer loan balances. The table below illustrates changes in loan balances by type over recent periods:

Summary Loan Data as of:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands)		2026			2026			2025			2025			2025
1-4 Family residential real estate		$	1,085,512		$	1,063,006		$	1,043,090		$	1,021,300		$	992,445
Non-owner occupied commercial real estate			924,144			945,274			912,611			918,275			888,317
Owner occupied commercial real estate			471,990			476,994			460,064			454,265			442,984
Multi-family real estate			469,968			467,936			452,733			445,953			422,758
Construction and land development			310,006			279,943			298,412			283,912			332,405
Agriculture real estate			295,803			278,541			261,118			255,610			244,983
Total loans secured by real estate			3,557,423			3,511,694			3,428,028			3,379,315			3,323,892
Commercial and industrial			552,557			546,002			537,276			521,945			510,259
Agriculture production			219,155			204,447			202,892			229,338			206,128
Consumer			53,144			51,869			52,182			56,051			55,387
All other loans			9,529			8,348			6,178			5,094			5,102
Total loans			4,391,808			4,322,360			4,226,556			4,191,743			4,100,768
Deferred loan fees, net			—			—			—			—			(178)
Gross loans			4,391,808			4,322,360			4,226,556			4,191,743			4,100,590
Allowance for credit losses			(54,912)			(55,937)			(54,465)			(52,081)			(51,629)
Net loans		$	4,336,896		$	4,266,423		$	4,172,091		$	4,139,662		$	4,048,961

Loans anticipated to fund in the next 90 days totaled $181.7 million at June 30, 2026, as compared to $177.7 million at March 31, 2026, and $224.1 million at June 30, 2025.

The Bank’s concentration in non-owner occupied commercial real estate loans, as defined by banking regulatory guidance and including multi-family and construction and land development loans, is estimated at 287.7% of Tier 1 capital and ACL at June 30, 2026, as compared to 301.9% as of June 30, 2025. These loans represented 38.8% of gross loans at June 30, 2026. The largest component of this concentration is non-owner occupied commercial real estate, which is primarily comprised of loans secured by hospitality (hotels and restaurants), care facilities, strip centers, retail stand-alone properties, and storage units. Within this portfolio, the hospitality and retail stand-alone segments consist primarily of franchised businesses; care facilities consist mainly of skilled nursing and assisted living centers; and strip centers are generally non-mall shopping centers with a variety of tenants. The Bank’s multi-family real estate loan portfolio commonly includes loans secured by properties currently participating in the low-income housing tax credit (LIHTC) program or that have exited the program. The largest component of the construction and land development portfolio is commercial construction, consisting primarily of loans collateralized by multi-family real estate and industrial warehouse developments. The Company continues to monitor its commercial real estate concentration and each of its individual segments closely.

Nonperforming loans (NPLs) were $27.7 million, or 0.63% of gross loans, at June 30, 2026, as compared to $23.0 million, or 0.56% of gross loans, at June 30, 2025. Nonperforming assets (NPAs) were $33.5 million, or 0.64% of total assets, at June 30, 2026, as compared to $23.7 million, or 0.47% of total assets, at June 30, 2025. The rise in NPAs reflects an increase in NPLs and other real estate owned (OREO), partially offset by net charge-offs. The year-over-year increase in NPLs was primarily attributable to three borrower relationships: one commercial relationship consisting of multiple related loans collateralized by commercial real estate and equipment; one consisting of two related agricultural production loans secured by crops and equipment; and the other, which was added during the quarter ended June 30, 2026, consisting of several related agricultural production loans secured by crop insurance claims, restricted cash, crops, and equipment. The increase in OREO was primarily due to the foreclosure of a previously reported nonaccrual commercial loan relationship consisting of multiple loans collateralized by commercial real estate and equipment.

The ACL at June 30, 2026, totaled $54.9 million, representing 1.25% of gross loans and 199% of nonperforming loans, as compared to an ACL of $51.6 million, representing 1.26% of gross loans and 224% of nonperforming loans, at June 30, 2025. The Company has estimated its expected credit losses as of June 30, 2026, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. Economic uncertainty remains, including the potential effects of elevated and uncertain interest rates, as inflation remains above the Federal Reserve's long-term target, and evolving labor market and broader economic conditions. The increase in the ACL was primarily attributable to higher reserves required for pooled loans, driven largely by the Bank’s annual ACL model update, which reflected an increase in modeled loss drivers compared to the prior assessment as of June 30, 2025, and increased reserves on agriculture loans reflecting ongoing pressure in the agricultural sector. Additional reserves were also required to support loan growth. This was partially offset by net charge-offs. As a percentage of average loans outstanding, the Company recorded net charge-offs of 0.40% (annualized) during the current quarter, as compared to net charge-offs of 0.53% for the same quarter of the prior fiscal year. In the three-month period ended June 30, 2026, net charge offs were $4.3 million due primarily to a $2.6 million partial charge-off of the agricultural production loan relationship noted above which was placed on nonaccrual status during the quarter and a previously identified nonperforming commercial loan relationship that was transferred to OREO following foreclosure resulting in a charge off of $1.2 million. For fiscal year 2026, net charge-offs as a percentage of average loans were 0.18%, as compared to 0.17% for fiscal year 2025.

Total liabilities were $4.6 billion at June 30, 2026, an increase of $169.3 million, or 3.8%, as compared to June 30, 2025. Growth primarily reflected increases in total deposits, FHLB advances, and other liabilities which increased due to future capital contributions related to tax credit investments. This was partially offset by a $7.5 million decrease in subordinated debentures, as the Company retired debt that became callable during the three-month period ended June 30, 2026.

Deposits were $4.4 billion at June 30, 2026, an increase of $126.5 million, or 3.0%, as compared to June 30, 2025. Certificate of deposit growth was relatively balanced between brokered and non-brokered deposits. Nonmaturity deposit growth was primarily attributable to increases in non-interest bearing deposits, savings accounts, and brokered money market deposit accounts, partially offset by declines in NOW accounts and non-brokered money market deposit accounts. Public unit balances totaled $517.8 million at June 30, 2026, a decrease of $33.0 million compared to June 30, 2025, primarily due to competitive pricing dynamics on certain time deposits and normal fluctuations in operating account balances. Brokered deposits totaled $290.6 million at June 30, 2026, an increase of $55.6 million as compared to June 30, 2025, primarily attributable to brokered certificates of deposit. The average loan-to-deposit ratio for the fourth quarter of fiscal 2026 was 99.7%, as compared to 94.5% for the same period of the prior fiscal year. The table below illustrates changes in deposit balances by type over recent periods:

Summary Deposit Data as of:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands)		2026			2026			2025			2025			2025
Non-interest bearing deposits		$	560,704		$	528,601		$	526,569		$	501,885		$	508,110
NOW accounts			1,074,489			1,153,078			1,167,626			1,098,921			1,132,298
MMDAs - non-brokered			314,350			305,903			309,806			326,387			329,837
Brokered MMDAs			10,654			21,073			10,817			28,129			1,414
Savings accounts			707,482			718,199			701,553			715,406			661,115
Total nonmaturity deposits			2,667,679			2,726,854			2,716,371			2,670,728			2,632,774
Certificates of deposit - non-brokered			1,460,172			1,408,723			1,412,394			1,409,332			1,414,945
Brokered certificates of deposit			279,995			205,338			179,569			200,430			233,649
Total certificates of deposit			1,740,167			1,614,061			1,591,963			1,609,762			1,648,594
Total deposits		$	4,407,846		$	4,340,915		$	4,308,334		$	4,280,490		$	4,281,368
Public unit nonmaturity accounts		$	420,047		$	471,659		$	490,060		$	424,391		$	435,632
Public unit certificates of deposit			97,787			93,061			94,039			112,963			115,204
Total public unit deposits		$	517,834		$	564,720		$	584,099		$	537,354		$	550,836

FHLB advances were $130.4 million at June 30, 2026, an increase of $26.4 million, or 25.3%, as compared to June 30, 2025. Outstanding FHLB daily reset borrowings were $28.4 million as of June 30, 2026, as compared to none outstanding as of June 30, 2025.

The Company’s stockholders’ equity was $590.7 million at June 30, 2026, an increase of $46.0 million, or 8.4%, as compared to June 30, 2025. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $1.6 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to tighter credit spreads and continued principal paydowns within the investment portfolio. The AOCL totaled $9.8 million at June 30, 2026, as compared to $11.4 million at June 30, 2025. The Company does not hold any securities classified as held-to-maturity. The increase in stockholders’ equity was partially offset by $18.6 million utilized to repurchase 317,000 shares of the Company’s common stock during fiscal 2026 at an average price of $58.59 per share.

Quarterly Income Statement Summary:

The Company’s net interest income for the three-month period ended June 30, 2026, was $44.4 million, an increase of $4.1 million, or 10.1%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase of 20 basis points in the net interest margin, from 3.47% to 3.67%, coupled with a 4.0% increase in the average balance of interest-earning assets in the current three-month period compared to the same period a year ago. The primary driver of the net interest margin expansion, compared to the year ago period, was a decrease in the cost of interest-bearing liabilities of 29 basis points, partially offset by a decrease of six basis points in the yield on interest-earning assets.

Loan discount accretion and liability premium amortization related to the November 2018 acquisition of First Commercial Bank, the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2024 acquisition of Citizens Bank & Trust resulted in $395,000 in net interest income for the three-month period ended June 30, 2026, as compared to $600,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed three basis points to net interest margin in the three-month period ended June 30, 2026, as compared to a five-basis point contribution for the same period of the prior fiscal year, and as compared to a three-basis point contribution in the linked quarter, ended March 31, 2026, when net interest margin was 3.67%.

The Company recorded a PCL of $3.2 million in the three-month period ended June 30, 2026, as compared to a PCL of $2.5 million in the same period of the prior fiscal year. The current period PCL was the result of a $3.3 million provision attributable to the ACL for outstanding loan balances and a $111,000 negative provision attributable to the allowance for off-balance sheet credit exposures, primarily reflecting changes in the composition of unfunded loan commitments. The factors considered when estimating a required ACL and PCL for loan balances outstanding are detailed above in the “Balance Sheet Summary”.

The Company’s noninterest income for the three-month period ended June 30, 2026, was $7.4 million, an increase of $78,000, or 1.1%, as compared to the same period of the prior fiscal year. The increase was attributable to an increase in earnings on bank owned life insurance (BOLI), wealth management fees, deposit account charges and related fees, and net realized gains on sale of loans. The increase in earnings on BOLI was mainly attributable to a mortality benefit of $231,000 recognized in the fourth quarter of 2026. Wealth management fees benefited from revenue growth at both Southern Financial Advisors and Southern Wealth Trust Services, primarily driven by market appreciation and the resulting increase in assets under management. Deposit account charges and related fees benefited from increased frequency of charges for non-sufficient funds and increased wire fee income from an increase of our wire fee rates and elevated wire activity. Lastly, the increase in gain on sale of loans was primarily attributable to gain on sale of SBA loans. These increases were partially offset by a decrease in other loan fees, reflecting a refinement of our fee recognition under ASC 310-20, Receivables – Nonrefundable Fees and Other Costs, with a greater portion now recognized in interest income over the life of the loan.

Noninterest expense for the three-month period ended June 30, 2026, was $25.5 million, a decrease of $431,000, or 1.7%, as compared to the same period of the prior fiscal year. The decrease as compared to the year-ago period was primarily attributable to decreases in legal and professional fees, intangible amortization, deposit insurance premiums, and other noninterest expenses. The decrease in legal and professional fees was primarily due to $425,000 of consulting costs incurred in the prior-year period in connection with negotiating a new contract with a significant vendor that did not reoccur in the current period. The decrease in intangible amortization expense was attributable to a core deposit intangible that was fully amortized in the second quarter of fiscal 2026 from a previous merger. The Company also benefited from lower deposit insurance premiums, primarily reflecting improvements in the financial metrics used to determine assessment rates. Lastly, other noninterest expense decreased largely due to loan product expense associated with expenses for loan collection and lending activities. These decreases when compared to the prior year period were partially offset by increases in compensation and benefits, primarily due to annual merit increases, as well as a trend increase in team member headcount.

The efficiency ratio for the three-month period ended June 30, 2026, was 49.3%, as compared to 54.6% in the same period of the prior fiscal year. The improvement was attributable to increases in net interest income and noninterest income, and a decline in operating expenses.

The income tax provision was $2.7 million for the three-month period ended June 30, 2026, a decrease of 18.0% as compared to the same period of the prior fiscal year. The effective tax rate for the fourth quarter of fiscal year 2026 was 11.9%, as compared to 17.5% in the same period of the prior fiscal year. The decrease in the effective tax rate was primarily attributable to a $1.7 million income tax benefit recognized from tax credit investments. In the same period of the prior fiscal year, the Company recognized a $701,000 benefit from tax credit investments.  

Forward-Looking Information:

Except for the historical information contained herein, the matters discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from the forward-looking statements, including: expected cost savings, synergies and other benefits from our merger and acquisition activities, might not be realized within the anticipated time frames, to the extent anticipated, or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; potential adverse impacts to economic conditions both nationally and in our local market areas and other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; the strength of the United States economy in general and the strength of the local economies in which we conduct operations; fluctuations in interest rates and inflation, including the effects of a potential recession whether caused by Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) actions or otherwise or slowed economic growth caused by changes in oil prices or supply chain disruptions; the impact of monetary and fiscal policies of the Federal Reserve Board and the U.S. Government or other governmental initiatives affecting the financial services industry; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the ACL on loans; our ability to access cost-effective funding and maintain sufficient liquidity; the timely development of and acceptance of new products and services and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors’ products and services; fluctuations in real estate values in both residential and commercial real estate markets, as well as agricultural business conditions; fluctuations in the demand for loans and deposits, including our ability to attract and retain deposits; the impact of a federal government shutdown; legislative or regulatory changes that adversely affect our business; the effects of climate change, severe weather events, other natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates; changes in accounting principles, policies, or guidelines; results of examinations of us by our regulators, including the impact on FDIC insurance premiums and the possibility that our regulators may, among other things, require an increase in our reserve for credit losses on loans or a write-down of assets; the impact of technological changes and an inability to keep pace with the rate of technological advances; the inability of key third party providers to perform their obligations to us; cyber threats, such as phishing, ransomware, and insider attacks, which can lead to financial loss, reputational damage, and regulatory penalties if sensitive customer data and critical infrastructure are not adequately protected; our ability to retain key members of our management team; and our success at managing the risks involved in the foregoing. Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements.

Non-GAAP Financial Measures:

Tangible common equity and tangible book value per common share are financial measures determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental and are not intended to be a substitute for analyses based on GAAP measures. As other companies may utilize different methodologies for calculating these measures, this presentation may not be comparable to similarly titled measures used by other institutions.

Tangible common equity is calculated by excluding intangible assets from common stockholders’ equity. Tangible book value per common share is calculated by dividing tangible common equity by common shares outstanding, less restricted common shares not vested. For comparison, book value per common share is calculated by dividing common stockholders’ equity by common shares outstanding, less restricted common shares not vested. This approach is consistent with the treatment applied by bank regulatory agencies, which generally exclude intangible assets from the calculation of risk-based capital ratios.

Each of these non-GAAP financial measures provides information considered important to investors and is useful in understanding the Company’s capital position. Calculations of tangible common equity and tangible book value per common share to the corresponding GAAP measures of common stockholders’ equity and book value per common share are presented below.   

Southern Missouri Bancorp, Inc.
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Summary Balance Sheet Data as of:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands, except per share data)		2026			2026			2025			2025			2025
Cash equivalents and time deposits		$	90,966		$	93,286		$	134,309		$	124,358		$	193,105
Available for sale (AFS) securities			450,775			439,115			444,965			453,855			460,844
FHLB/FRB membership stock			20,111			18,863			18,552			18,489			18,500
Loans held for sale			1,787			1,033			1,271			277			431
Loans receivable, gross			4,391,808			4,322,360			4,226,556			4,191,743			4,100,590
Allowance for credit losses			54,912			55,937			54,465			52,081			51,629
Loans receivable, net			4,336,896			4,266,423			4,172,091			4,139,662			4,048,961
Bank-owned life insurance			77,117			77,155			76,793			76,240			75,691
Intangible assets			70,620			71,329			72,049			72,866			73,721
Premises and equipment			93,191			93,366			94,560			95,211			95,982
Other assets			93,438			80,894			79,797			55,374			52,372
Total assets		$	5,234,901		$	5,141,464		$	5,094,387		$	5,036,332		$	5,019,607
Interest-bearing deposits		$	3,847,142		$	3,812,314		$	3,781,765		$	3,778,605		$	3,773,258
Noninterest-bearing deposits			560,704			528,601			526,569			501,885			508,110
Securities sold under agreements to repurchase			20,000			20,000			20,000			20,000			15,000
FHLB advances			130,424			105,033			102,041			102,029			104,052
Other liabilities			70,187			78,758			73,417			50,371			51,287
Subordinated debt			15,766			23,248			23,235			23,221			23,208
Total liabilities			4,644,223			4,567,954			4,527,027			4,476,111			4,474,915
Total stockholders’ equity			590,678			573,510			567,360			560,221			544,692
Total liabilities and stockholders’ equity		$	5,234,901		$	5,141,464		$	5,094,387		$	5,036,332		$	5,019,607
Equity to assets ratio			11.28	%		11.15	%		11.14	%		11.12	%		10.85	%
Common shares outstanding			11,011,109			11,015,112			11,142,733			11,290,667			11,299,467
Less: Restricted common shares not vested			46,740			50,525			49,075			48,675			50,163
Common shares for book value determination			10,964,369			10,964,587			11,093,658			11,241,992			11,249,304
Book value per common share		$	53.87		$	52.31		$	51.14		$	49.83		$	48.42
Less: Intangible assets per common share			6.44			6.51			6.49			6.48			6.55
Tangible book value per common share (1)			47.43			45.80			44.65			43.35			41.87
Closing market price			76.21			63.94			59.12			52.56			54.78

(1)   Non-GAAP financial measure.

Nonperforming asset data as of:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands)		2026			2026			2025			2025			2025
Nonaccrual loans		$	27,655		$	30,135		$	29,655		$	26,031		$	23,040
Accruing loans 90 days or more past due			—			—			—			—			—
Total nonperforming loans			27,655			30,135			29,655			26,031			23,040
Other real estate owned (OREO)			5,631			1,795			1,536			1,006			625
Personal property repossessed			209			23			5			45			32
Total nonperforming assets		$	33,495		$	31,953		$	31,196		$	27,082		$	23,697
Total nonperforming assets to total assets			0.64	%		0.62	%		0.61	%		0.54	%		0.47	%
Total nonperforming loans to gross loans			0.63	%		0.70	%		0.70	%		0.62	%		0.56	%
Allowance for credit losses to nonperforming loans			198.56	%		185.62	%		183.66	%		200.07	%		224.08	%
Allowance for credit losses to gross loans			1.25	%		1.29	%		1.29	%		1.24	%		1.26	%
Performing modifications to borrowers experiencing financial difficulty		$	30,989		$	31,672		$	32,048		$	27,072		$	26,642

		For the three-month period ended
Quarterly Summary Income Statement Data:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands, except per share data)		2026			2026			2025			2025			2025
Interest income:
Cash equivalents		$	430		$	659		$	1,059		$	1,114		$	1,698
AFS securities and membership stock			4,960			4,902			5,198			5,456			5,586
Loans receivable			67,375			65,398			65,975			66,460			63,354
Total interest income			72,765			70,959			72,232			73,030			70,638
Interest expense:
Deposits			26,398			26,172			27,699			28,940			28,644
Securities sold under agreements to repurchase			202			200			204			200			191
FHLB advances			1,433			1,070			1,080			1,081			1,080
Subordinated debt			325			362			379			391			390
Total interest expense			28,358			27,804			29,362			30,612			30,305
Net interest income			44,407			43,155			42,870			42,418			40,333
Provision for credit losses			3,194			2,080			1,680			4,500			2,500
Noninterest income:
Deposit account charges and related fees			2,356			2,331			2,429			2,365			2,156
Bank card interchange income			1,744			1,592			1,614			1,530			1,839
Loan servicing fees			247			245			250			263			167
Other loan fees			79			27			164			194			917
Net realized gains on sale of loans			336			226			167			175			143
Earnings on bank owned life insurance			794			677			552			548			533
Insurance brokerage commissions			414			353			345			319			368
Wealth management fees			1,041			944			936			851			825
Other noninterest income			347			695			319			328			332
Total noninterest income			7,358			7,090			6,776			6,573			7,280
Noninterest expense:
Compensation and benefits			14,130			14,054			13,651			13,065			13,852
Occupancy and equipment, net			3,787			4,040			3,834			3,788			3,745
Data processing expense			2,650			2,770			2,666			2,513			2,573
Telecommunications expense			288			308			309			347			312
Deposit insurance premiums			480			495			600			620			601
Legal and professional fees			633			521			478			1,075			1,165
Advertising			580			553			538			614			551
Postage and office supplies			363			373			333			300			336
Intangible amortization			702			709			808			857			857
Foreclosed property expenses, net			43			108			31			58			(18)
Other noninterest expense			1,889			2,292			2,022			1,814			2,002
Total noninterest expense			25,545			26,223			25,270			25,051			25,976
Net income before income taxes			23,026			21,942			22,696			19,440			19,137
Income taxes			2,747			4,181			4,546			3,790			3,351
Net income			20,279			17,761			18,150			15,650			15,786
Less: Distributed and undistributed earnings allocated
to participating securities			86			81			79			67			71
Net income available to common shareholders		$	20,193		$	17,680		$	18,071		$	15,583		$	15,715
Basic earnings per common share		$	1.84		$	1.60		$	1.62		$	1.39		$	1.40
Diluted earnings per common share			1.83			1.60			1.62			1.38			1.39
Dividends per common share			0.25			0.25			0.25			0.25			0.23
Average common shares outstanding:
Basic			10,966,000			11,041,000			11,153,000			11,247,000			11,250,000
Diluted			11,009,000			11,075,000			11,179,000			11,272,000			11,270,000

		For the three-month period ended
Quarterly Average Balance Sheet Data:		June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,
(dollars in thousands)		2026			2026			2025			2025			2025
Interest-bearing cash equivalents		$	39,923		$	68,374		$	103,156		$	97,948		$	151,380
AFS securities and membership stock			473,931			469,515			478,219			493,125			498,491
Loans receivable, gross			4,343,778			4,235,274			4,181,158			4,118,859			4,018,769
Total interest-earning assets			4,857,632			4,773,163			4,762,533			4,709,932			4,668,640
Other assets			336,502			342,334			321,042			302,630			299,217
Total assets		$	5,194,134		$	5,115,497		$	5,083,575		$	5,012,562		$	4,967,857
Interest-bearing deposits		$	3,804,517		$	3,793,242		$	3,782,764		$	3,741,361		$	3,727,836
Securities sold under agreements to repurchase			20,000			20,000			20,000			18,043			15,000
FHLB advances			140,095			103,556			102,046			102,410			104,053
Subordinated debt			19,506			23,241			23,228			23,215			23,201
Total interest-bearing liabilities			3,984,118			3,940,039			3,928,038			3,885,029			3,870,090
Noninterest-bearing deposits			553,513			528,820			541,110			533,809			524,860
Other noninterest-bearing liabilities			74,548			74,431			51,411			41,937			37,014
Total liabilities			4,612,179			4,543,290			4,520,559			4,460,775			4,431,964
Total stockholders’ equity			581,955			572,207			563,016			551,787			535,893
Total liabilities and stockholders’ equity		$	5,194,134		$	5,115,497		$	5,083,575		$	5,012,562		$	4,967,857
Return on average assets			1.57	%		1.41	%		1.42	%		1.24	%		1.27	%
Return on average common stockholders’ equity			14.0	%		12.6	%		12.8	%		11.3	%		11.8	%
Net interest margin			3.67	%		3.67	%		3.57	%		3.57	%		3.47	%
Net interest spread			3.16	%		3.17	%		3.05	%		3.02	%		2.93	%
Efficiency ratio			49.3	%		52.2	%		50.9	%		51.1	%		54.6	%

Stefan Chkautovich
schkautovich@bankwithsouthern.com
573-778-1800

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