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Southern Bank operates its regional corporate office in Springfield.
Courtesy BankWithSouthern.com
Southern Bank operates its regional corporate office in Springfield.

Southern Bank parent company's profits rise 4.5% in latest quarter

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Poplar Bluff-based Southern Missouri Bancorp Inc. (Nasdaq: SMBC) boosted its profits by 4.5% in the second quarter of its fiscal year.

The parent company of Southern Bank, which operates its regional corporate office in Springfield, reported net income of $12.2 million for the three-month period that ended Dec. 31, according to a news release. That compares with $11.7 million a year earlier.

"The increase was attributable to increases in net interest income and noninterest income, and lower provision for credit losses and income taxes, partially offset by an increase in noninterest expense," officials said in the release.

Diluted share earnings for the quarter were $1.07, down from 19 cents from the same quarter a year earlier.

Southern Bank had assets of $4.6 billion and deposits of $4 billion as of Dec. 31, according to the release.

SMBC shares were trading at $42.07 as of 11:03 a.m., compared with a 52-week range of $30.28 to $55.45 per share.

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