Southern Bank grows quarterly profits

Poplar Bluff-based Southern Missouri Bancorp Inc. (Nasdaq: SMBC), the parent company of Southern Bank, reported a quarterly gain in net income available to common shareholders.

The figure was over $20 million, which compares with $15.7 million a year earlier, according to a news release. Diluted share earnings increased to $1.83 from $1.39 per share.

"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," officials said in the release.

As of June 30, Southern Bank's assets were $5.2 billion and deposits were $4.4 billion.

SMBC shares were trading at $75.56 as of 9:12 a.m., compared with a 52-week range of $47.60 to $78.48 per share.