Southern Missouri Bancorp FY2026: EPS $6.43, but NPLs jump 41% on ag credit stress
SMBC sits 54% above its 52-week low of $47.6.
Summary
Southern Missouri Bancorp posted record fiscal 2026 earnings of $71.8 million ($6.43 diluted EPS), but nonperforming assets jumped 41% to $33.5 million on agricultural credit stress, and the provision for credit losses nearly doubled to $11.5 million.
Key Events · Earnings and Guidance · SMBC
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Record FY2026 earnings
Net income rose 22.6% to $71.8 million, with diluted EPS of $6.43 versus $5.18 in fiscal 2025. Net interest margin expanded to 3.62% from 3.40%.
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Nonperforming assets jump 41%
NPAs increased to $33.5 million (0.64% of total assets) from $23.7 million, driven by three borrower relationships including a $5.9 million agricultural production credit added to nonaccrual in Q4.
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Provision for credit losses nearly doubles
PCL rose to $11.5 million from $6.5 million, with net charge-offs of $10.3 million concentrated in agriculture production and commercial real estate.
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Agricultural credit stress flagged
Management identified $105.7 million in 'other loans of concern' (up from $77.0 million), citing lower commodity prices and elevated input costs pressuring farm borrowers.
Analysis · SMBC · Finance
Southern Missouri Bancorp delivered a strong headline year — net income up 22.6% to $71.8 million and diluted EPS of $6.43 — but the balance sheet tells a more cautious story. Nonperforming assets climbed to $33.5 million from $23.7 million a year earlier, driven almost entirely by three borrower relationships, including a $5.9 million agricultural production credit added to nonaccrual in the June quarter. The provision for credit losses nearly doubled to $11.5 million, and net charge-offs reached $10.3 million, concentrated in agriculture and commercial real estate. Management also flagged $105.7 million in 'other loans of concern' — up from $77.0 million — citing lower commodity prices and elevated input costs pressuring farm borrowers. Against that backdrop, the bank remains well-capitalized with a CET1 ratio of 12.12% and ample liquidity, and it authorized a new 550,000-share buyback in January. The credit deterioration is the key watch item heading into fiscal 2027.
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At the time of this filing, SMBC was trading at $73.26 on NASDAQ in the Finance sector, with a market capitalization of approximately $807M. The 52-week trading range was $47.60 to $79.86. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.