Springfield, MO

Southern Bank to acquire Southern Missouri Bank of Marshfield

Posted online

Poplar Bluff-based Southern Missouri Bancorp Inc. (Nasdaq: SMBC) agreed to acquire Southern Missouri Bancshares Inc. in a deal valued at $15.1 million.

Through the purchase, the Southern Bank holding company will pick up Southern Missouri Bancshares’ two Southern Missouri Bank of Marshfield branches and its $91.6 million in assets and $73.6 million in deposits, according to a news release.

“We are currently already serving some significant relationships in the community,” Southern Missouri Bancorp President and CEO Greg Steffens said in the release. “We have key personnel who are intimately familiar with this part of the Springfield metropolitan statistical area, which has been a key to our company’s growth over recent years, and we believe this acquisition will be very helpful to our continued solid growth in that market.”

The companies expect to close the deal in first-quarter 2018, pending regulatory and shareholder approvals.

When it finalizes the acquisition, Southern Bank will hold $1.8 billion in assets and $1.5 billion in deposits across 43 branches in Missouri — including three in Springfield — Arkansas and Illinois, according to the release.

Last month, Southern Bank reported quarterly net income of $3.7 million, an increase from $3.68 million a year earlier, according to a separate news release.

SMBC shares were trading at $31.25 as of 11:25 a.m., compared with a 52-week range of $23 to $37.


No comments on this story |
Please log in to add your comment
Editors' Pick

Robotics in Waiting: OTC seeks pole position as advanced manufacturing educator

The move would come with a new property tax levied on residents of regional school districts.

Most Read
SBJ Live logo
Training Bootcamp: Training Needs Assessment

All workplace problems have root causes. When will training be the solution? Sherry Coker, OTC Center for Workforce Development business development director, provides you the framework of a training needs assessment, which will uncover the root causes of a workplace problem and help you determine if training is the solution. A download is available at with a complete outline for an effective training needs assessment. This is sponsored content. Duration: 2:29

Don’t Micro-Manage Are you guilty of micromanaging your employees? “If we’re going to require them to be that educated when they come to work for us, should we not let them do their job? They should know so much …
Seek Wisdom from Many “My whole life goal is to change the world, one connection at a time,” says Keisha Mabry. Mabry, who is an author, speaker, and social entrepreneur, says she had a “quarter-life crisis” and …
DNA Uncovers Best Version of You A simple swab of the inside of your cheek can lead to optimizing your nutrition and fitness program, personal medication profile, in addition to your ancestry. According to Austin O’Reilly, owner …
Booked - Go Back to the Basics “You’ve gotta go back to the basics,” says Larry Peterson, Executive Director, Habitat for Humanity of Springfield Missouri. Peterson says he gains leadership advice from General Ulysses S. …