Earnings release
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1 Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Stefan Chkautovich, CFO January 21, 2026 (573) 778-1800 SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR SECOND QUARTER OF FISCAL 2026; DECLARES QUARTERLY DIVIDEND OF $0.25 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR THURSDAY, JANUARY 22, AT 9:30 AM CENTRAL TIME Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corpora on of Southern Bank (“Bank”), today announced preliminary net income for the second quarter of fiscal 2026 of $18.2 million, an increase of $3.5 million, or 23.9%, as compared to the same period of the prior fiscal year. The increase was a ributable to an increase in net interest income, par ally offset by increases in provision for credit loss (PCL) expense, and noninterest expense, and lower noninterest income. Preliminary net income was $1.62 per fully diluted common share for the second quarter of fiscal 2026, an increase of $0.32 as compared to the $1.30 per fully diluted common share reported for the same period of the prior fiscal year. Highlights for the second quarter of fiscal 2026: ● Earnings per common share (diluted) was $1.62, up $0.32, or 24.6%, as compared to the same quarter a year ago, and up $0.24, or 17.4% from the first quarter of fiscal 2026, the linked quarter. ● Annualized return on average assets (“ROAA”) was 1.42%, while annualized return on average common equity was 12.8%, as compared to 1.20% and 11.4%, respec vely, in the same quarter a year ago, and 1.24% and 11.3%, respec vely, in the first quarter of fiscal 2026, the linked quarter. ● Net interest margin for the quarter was 3.57%, as compared to 3.34% reported for the year ago period, and as compared to 3.57% reported for the first quarter of fiscal 2026, the linked quarter. Net interest income increased $4.7 million, or 12.4%, as compared to the same quarter a year ago, and increased $452,000, or 1.1%, from the first quarter of fiscal 2026, the linked quarter. ● Gross loan balances as of December 31, 2025, increased by $34.8 million, or 0.8%, as compared to September 30, 2025, and by $199.6 million, or 5.0%, as compared to December 31, 2024. ● Tangible book value per share was $44.65, having increased by $5.74, or 14.8%, as compared to December 31, 2024. ● The Company repurchased 148,000 shares of its common stock in the second quarter of fiscal 2026 at an average price of $54.32 per share, for a total of $8.1 million. The average purchase price was 122% of our tangible book value as of December 31, 2025. ● The Board of Directors authorized a new share repurchase program for up to approximately 5% of outstanding common shares, following the near comple on of the prior authoriza on.
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2 Dividend Declared: The Board of Directors, on January 20, 2026, declared a quarterly cash dividend on common stock of $0.25, payable February 27, 2026, to stockholders of record at the close of business on February 13, 2026, marking the 127th consecu ve quarterly dividend since the incep on of the Company. 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. Share Repurchase Authoriza on: On January 20, 2026, the Board of Directors approved a new authoriza on to repurchase up to 550,000 shares of the Company’s common stock, or approximately 5.0% of shares outstanding, following the near comple on of the Company’s prior repurchase program announced on May 20, 2021. Repurchases may be made from me to me in the open market or in privately nego ated transac ons, subject to market condi ons and other factors. Any shares repurchased will be held as treasury shares for general corporate purposes. As of January 21, 2026, the Company had repurchased nearly all shares authorized under the prior program at an average cost of $48.28 per share. The prior program permi ed the repurchase of up to 445,000 shares. Conference Call: The Company will host a conference call to review the informa on provided in this press release on Thursday, January 22, 2026, at 9:30 a.m., central me. The call will be available live to interested par es by calling 1-833-470- 1428. Par cipants should use par cipant access code 915129. Telephone playback will be available beginning one hour following the conclusion of the call through January 27, 2026. The playback may be accessed by dialing 1-866- 813-9403, and using the conference passcode 450286. Balance Sheet Summary: The Company experienced balance sheet growth in the first six months of fiscal 2026, with total assets of $5.1 billion at December 31, 2025, reflec ng an increase of $74.8 million, or 1.5%, as compared to June 30, 2025. Growth primarily reflected an increase in net loans receivable, par ally offset by decreases in cash equivalents and me deposits and available for sale (AFS) securi es. Cash equivalents and me deposits were a combined $134.3 million at December 31, 2025, a decrease of $58.8 million, or 30.4%, as compared to June 30, 2025. The decrease was primarily the result of loan growth that outpaced deposit genera on during the period. AFS securi es were $445.0 million at December 31, 2025, down $15.9 million, or 3.4%, as compared to June 30, 2025, reflec ng normal principal amor za on as well as early redemp ons from callable securi es, which accelerated por olio runoff during the period. Loans, net of the allowance for credit losses (ACL), were $4.2 billion at December 31, 2025, increasing by $123.1 million, or 3.0%, as compared to June 30, 2025. The Company noted growth primarily in 1-4 family residen al real estate, mul -family real estate, commercial and industrial, both non-owner and owner occupied commercial real estate, and agriculture real estate loan balances. This was somewhat offset by decreases in construc on and land development loans, agricultural produc on loans, and consumer loans. The table below illustrates changes in loan balances by type over recent periods:
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3 Summary Loan Data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 1-4 Family residen al real estate $ 1,043,090 $ 1,021,300 $ 992,445 $ 978,908 $ 967,196 Non-owner occupied commercial real estate 912,611 918,275 888,317 897,125 882,484 Owner occupied commercial real estate 460,064 454,265 442,984 440,282 435,392 Mul -family real estate 452,733 445,953 422,758 405,445 376,081 Construc on and land development 298,412 283,912 332,405 323,499 393,388 Agriculture real estate 261,118 255,610 244,983 247,027 239,912 Total loans secured by real estate 3,428,028 3,379,315 3,323,892 3,292,286 3,294,453 Commercial and industrial 537,276 521,945 510,259 488,116 484,799 Agriculture produc on 202,892 229,338 206,128 186,058 188,284 Consumer 52,182 56,051 55,387 54,022 56,017 All other loans 6,178 5,094 5,102 3,216 3,628 Total loans 4,226,556 4,191,743 4,100,768 4,023,698 4,027,181 Deferred loan fees, net — — (178) (189) (202) Gross loans 4,226,556 4,191,743 4,100,590 4,023,509 4,026,979 Allowance for credit losses (54,465) (52,081) (51,629) (54,940) (54,740) Net loans $ 4,172,091 $ 4,139,662 $ 4,048,961 $ 3,968,569 $ 3,972,239 Loans an cipated to fund in the next 90 days totaled $159.1 million at December 31, 2025, as compared to $194.5 million at September 30, 2025, and $172.5 million at December 31, 2024. The Bank’s concentra on in non-owner occupied commercial real estate, as defined for regulatory purposes, is es mated at 289.4% of Tier 1 capital and ACL at December 31, 2025, as compared to 301.9% as of June 30, 2025, with these loans represen ng 39.4% of gross loans at December 31, 2025. Mul -family residen al real estate, hospitality (hotels/restaurants), care facili es, strip centers, retail stand-alone, and storage units are the most common collateral types within the non-owner occupied commercial real estate loan por olio. The mul -family residen al real estate loan por olio commonly includes loans collateralized by proper es currently in the low-income housing tax credit (LIHTC) program or that have exited the program. The hospitality and retail stand-alone segments include primarily franchised businesses; care facili es consis ng mainly of skilled nursing and assisted living centers; and strip centers, which can be defined as non-mall shopping centers with a variety of tenants. Non-owner-occupied office property types included 35 loans totaling $21.1 million, or 0.50% of gross loans at December 31, 2025, none of which were adversely classified, and are generally comprised of smaller spaces with diverse tenants. The Company con nues to monitor its commercial real estate concentra on and the individual segments closely. Nonperforming loans (NPLs) were $29.7 million, or 0.70% of gross loans, at December 31, 2025, as compared to $23.0 million, or 0.56% of gross loans at June 30, 2025. Nonperforming assets (NPAs) were $31.2 million, or 0.61% of total assets, at December 31, 2025, as compared to $23.7 million, or 0.47% of total assets, at June 30, 2025. The change in NPAs was primarily a ributable to the noted increase in NPLs. The increase in NPLs was primarily a ributable to two borrower rela onships: one consis ng of mul ple loans collateralized by commercial real estate and equipment; and the other, consis ng of two related agricultural produc on loans secured by crops and equipment, par ally offset by improvement in previously nonperforming loans and net charge-offs. Both rela onships noted were placed on nonaccrual status during the second quarter of fiscal 2026, resul ng in the reversal of $678,000 of accrued interest during the quarter, decreasing net interest income. The ACL at December 31, 2025, totaled $54.5 million, represen ng 1.29% of gross loans and 184% of NPLs, as compared to an ACL of $51.6 million, represen ng 1.26% of gross loans and 224% of NPLs, at June 30, 2025. The Company has es mated its expected credit losses as of December 31, 2025, under ASC 326-20, and management believes the ACL as of that date was adequate based on that es mate. There remains, however, significant economic uncertainty despite recent reduc ons in short-term interest rates as labor market condi ons so en, and infla on remains above target. The increase in the ACL was primarily a ributable to
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4 management’s assessment of reserve adequacy amid an evolving economic environment, addi ons to individually reviewed loans, slightly higher reserves required for pooled loans, and loan growth. This was par ally offset by net charge-offs. As a percentage of average loans outstanding, the Company recorded net recoveries of 0.07% (annualized) during the current quarter, as compared to net charge-offs of 0.02% for the same quarter of the prior fiscal year, and net charge-offs of 0.36% during the linked quarter. In the three-month period ended December 31, 2025, net recoveries were $704,000, which was primarily a ributable to a $2.0 million recovery associated with a special-purpose CRE rela onship, which was reserved for in the fourth quarter of fiscal 2025 and charged off in the first quarter of fiscal 2026. Total liabili es were $4.5 billion at December 31, 2025, an increase of $52.1 million, or 1.2%, as compared to June 30, 2025. Deposits were $4.3 billion at December 31, 2025, an increase of $27.0 million, or 0.63%, as compared to June 30, 2025. The deposit por olio saw year-to-date increases in nonmaturity deposit accounts, which was par ally offset by a decrease in cer ficates of deposit. Nonmaturity deposit growth was primarily driven by savings, NOW, and non- interest bearing accounts. The decrease in cer ficates of deposit was largely driven by a $54.1 million reduc on in brokered cer ficates compared to June 30, 2025. Brokered deposits totaled $182.2 million at December 31, 2025, a decrease of $52.9 million as compared to June 30, 2025. Public unit balances totaled $584.1 million at December 31, 2025, an increase of $33.3 million compared to June 30, 2025, primarily due to seasonal inflows. The average loan-to- deposit ra o for the second quarter of fiscal 2026 was 96.7%, as compared to 94.5% for the quarter ended June 30, 2025, and 96.4% 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: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 Non-interest bearing deposits $ 526,569 $ 501,885 $ 508,110 $ 513,418 $ 514,199 NOW accounts 1,167,626 1,098,921 1,132,298 1,167,296 1,211,402 MMDAs - non-brokered 317,987 334,492 329,837 345,810 347,271 Brokered MMDAs 2,636 20,024 1,414 2,013 3,018 Savings accounts 701,553 715,406 661,115 626,175 573,291 Total nonmaturity deposits 2,716,371 2,670,728 2,632,774 2,654,712 2,649,181 Cer ficates of deposit - non-brokered 1,412,394 1,409,332 1,414,945 1,373,109 1,310,421 Brokered cer ficates of deposit 179,569 200,430 233,649 233,561 251,025 Total cer ficates of deposit 1,591,963 1,609,762 1,648,594 1,606,670 1,561,446 Total deposits $ 4,308,334 $ 4,280,490 $ 4,281,368 $ 4,261,382 $ 4,210,627 Public unit nonmaturity accounts $ 490,060 $ 424,391 $ 435,632 $ 472,010 $ 482,406 Public unit cer ficates of deposit 94,039 112,963 115,204 103,741 83,506 Total public unit deposits $ 584,099 $ 537,354 $ 550,836 $ 575,751 $ 565,912 FHLB advances were $102.0 million at December 31, 2025, a decrease of $2.0 million, or 1.9%, as compared to June 30, 2025, due to maturing advances which were not renewed. For the quarter ended December 31, 2025, the Company con nued to have no FHLB overnight borrowings at the end of the period. The Company’s stockholders’ equity was $567.4 million at December 31, 2025, an increase of $22.7 million, or 4.2%, as compared to June 30, 2025. The increase was a ributable primarily to earnings retained a er cash dividends paid, in combina on with a $2.7 million reduc on in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to the decrease in market interest rates. The AOCL totaled $8.6 million at December 31, 2025 compared $11.4 million at June 30, 2025. The Company does not hold any securi es classified as held-to-maturity. The increase in stockholders’ equity was par ally offset by $8.5 million u lized for repurchase of 156,000 shares of the Company’s common stock year-to-date at an average price of $54.34 per share.
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5 Quarterly Income Statement Summary: The Company’s net interest income for the three-month period ended December 31, 2025, was $42.9 million, an increase of $4.7 million, or 12.4%, as compared to the same period of the prior fiscal year. The increase was a ributable to a 5.0% increase in the average balance of interest-earning assets and a 23-basis point increase in the net interest margin, from 3.34% to 3.57%, as the cost of interest-bearing liabili es decreased by 33 basis points, par ally offset by a six-basis point decrease in the yield earned on interest earning assets. Loan discount accre on and liability premium amor za on related to the November 2018 acquisi on of First Commercial Bank, the May 2020 acquisi on of Central Federal Savings & Loan Associa on, the February 2022 merger of FortuneBank, and the January 2024 acquisi on of Ci zens Bank & Trust resulted in $653,000 in net interest income for the three-month period ended December 31, 2025, as compared to $987,000 in net interest income for the same period a year ago. Combined, this component of net interest income contributed five basis points to net interest margin in the three-month period ended December 31, 2025, compared to nine basis points during the same period of the prior fiscal year, and as compared to a seven-basis point contribu on in the linked quarter, ended September 30, 2025, when the net interest margin was 3.57%. The Company recorded a PCL of $1.7 million in the three-month period ended December 31, 2025, as compared to a PCL of $932,000 in the same period of the prior fiscal year. The current period PCL had no provision a ributable to the allowance for off-balance sheet credit exposures. The factors considered when es ma ng a required ACL and PCL for loan balances outstanding is detailed above in the “Balance Sheet Summary”. The Company’s noninterest income for the three-month period ended December 31, 2025, was $6.8 million, a decrease of $89,000, or 1.3%, as compared to the same period of the prior fiscal year. The decrease was primarily a ributable to other loan fees, reflec ng a refinement of our fee recogni on under ASC 310-20, Receivables – Nonrefundable Fees and Other Costs, with a greater por on now recognized in interest income over the life of the loan. The decrease was par ally offset by an increase in bank card interchange income, deposit account charges and related fees, and wealth management fees. Noninterest expense for the three-month period ended December 31, 2025, was $25.3 million, an increase of $394,000, or 1.6%, as compared to the same period of the prior fiscal year. The increase was primarily a ributable to higher data processing, occupancy and equipment, and adver sing expenses. Data processing costs increased due to higher transac on volumes and increased so ware licensing costs. Occupancy and equipment expense growth was primarily driven by elevated maintenance and repair costs, addi onal deprecia on associated with a new branch and remodel projects, and higher real estate taxes. Adver sing expense increased due to increased marke ng ac vity and charitable contribu ons. These increases were par ally offset by lower legal and professional fees, reduced intangible amor za on as certain merger-related intangibles became fully amor zed, and lower compensa on and benefits expense, reflec ng refinements in the applica on of ASC 310-20, under which a greater por on of loan origina on costs, including related compensa on, is deferred and recognized as a reduc on of interest income over the life of the loan. The efficiency ra o for the three-month period ended December 31, 2025, improved to 50.9%, as compared to 55.3% in the same period of the prior fiscal year. The improvement reflected posi ve opera ng leverage, as revenue growth driven by higher net interest income outpaced growth in opera ng expenses. The income tax provision for the three-month period ended December 31, 2025, was $4.5 million, consistent with the same period in 2024. The effec ve tax rate for the current quarter was 20.0%, compared to
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6 23.7% for the quarter ended December 31, 2024. The higher effec ve tax rate in the prior-year quarter primarily reflected adjustments to tax accruals related to completed merger and acquisi on ac vity. Forward-Looking Informa on: Except for the historical informa on contained herein, the ma ers discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertain es, 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 acquisi on ac vi es, including our recently completed acquisi ons, might not be realized within the an cipated me frames, to the extent an cipated, or at all, and costs or difficul es rela ng to integra on ma ers, including but not limited to customer and employee reten on and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; poten al adverse impacts to economic condi ons both na onally and in our local market areas and other markets where the Company has lending rela onships, or other aspects of the Company’s business opera ons or financial markets, including, without limita on, as a result of employment levels, labor shortages and the effects of infla on, a poten al 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 opera ons; fluctua ons in interest rates and infla on, including the effects of a poten al recession whether caused by Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) ac ons or otherwise or slowed economic growth caused by changes in oil prices or supply chain disrup ons; the impact of monetary and fiscal policies of the Federal Reserve Board and the U.S. Government or other governmental ini a ves affec ng the financial services industry; the impact of bank failures or adverse developments at other banks and related nega ve press about the banking industry in general on investor and depositor sen ment; the risks of lending and inves ng ac vi es, including changes in the level and direc on of loan delinquencies and write-offs and changes in es mates of the adequacy of the ACL on loans; our ability to access cost-effec ve funding and maintain sufficient liquidity; the mely 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 compe tors’ products and services; fluctua ons in real estate values in both residen al and commercial real estate markets, as well as agricultural business condi ons; fluctua ons in the demand for loans and deposits, including our ability to a ract and retain deposits; the impact of a federal government shutdown; legisla ve or regulatory changes that adversely affect our business; the effects of climate change, severe weather events, other natural disasters, war, terrorist ac vi es or civil unrest and their effects on economic and business environments in which the Company operates; changes in accoun ng principles, policies, or guidelines; results of examina ons 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 obliga ons to us; cyber threats, such as phishing, ransomware, and insider a acks, which can lead to financial loss, reputa onal damage, and regulatory penal es if sensi ve customer data and cri cal 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 assump ons at the me they are made. We undertake no obliga on 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 informa on, future events or otherwise. In light of these risks, uncertain es and assump ons, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements.
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7 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 accoun ng principles generally accepted in the United States (GAAP). These non-GAAP financial measures are supplemental and are not intended to be a subs tute for analyses based on GAAP measures. As other companies may u lize different methodologies for calcula ng these measures, this presenta on may not be comparable to similarly tled measures used by other ins tu ons. 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 calcula on of risk-based capital ra os. Each of these non-GAAP financial measures provides informa on considered important to investors and is useful in understanding the Company’s capital posi on. Calcula ons 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.
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8 Southern Missouri Bancorp, Inc. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION Summary Balance Sheet Data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Cash equivalents and me deposits $ 134,309 $ 124,358 $ 193,105 $ 227,136 $ 146,078 Available for sale (AFS) securi es 444,965 453,855 460,844 462,930 468,060 FHLB/FRB membership stock 18,552 18,489 18,500 18,269 18,099 Loans held for sale 1,271 277 431 — — Loans receivable, gross 4,226,556 4,191,743 4,100,590 4,023,509 4,026,979 Allowance for credit losses 54,465 52,081 51,629 54,940 54,740 Loans receivable, net 4,172,091 4,139,662 4,048,961 3,968,569 3,972,239 Bank-owned life insurance 76,793 76,240 75,691 75,156 74,643 Intangible assets 72,049 72,866 73,721 74,677 75,399 Premises and equipment 94,560 95,211 95,982 95,987 96,418 Other assets 79,797 55,374 52,372 53,772 56,738 Total assets $ 5,094,387 $ 5,036,332 $ 5,019,607 $ 4,976,496 $ 4,907,674 Interest-bearing deposits $ 3,781,765 $ 3,778,605 $ 3,773,258 $ 3,747,964 $ 3,696,428 Noninterest-bearing deposits 526,569 501,885 508,110 513,418 514,199 Securi es sold under agreements to repurchase 20,000 20,000 15,000 15,000 15,000 FHLB advances 102,041 102,029 104,052 104,072 107,070 Other liabili es 73,417 50,371 51,287 44,057 39,424 Subordinated debt 23,235 23,221 23,208 23,195 23,182 Total liabili es 4,527,027 4,476,111 4,474,915 4,447,706 4,395,303 Total stockholders’ equity 567,360 560,221 544,692 528,790 512,371 Total liabili es and stockholders’ equity $ 5,094,387 $ 5,036,332 $ 5,019,607 $ 4,976,496 $ 4,907,674 Equity to assets ra o 11.14% 11.12% 10.85% 10.63% 10.44% Common shares outstanding 11,142,733 11,290,667 11,299,467 11,299,962 11,277,167 Less: Restricted common shares not vested 49,075 48,675 50,163 50,658 46,653 Common shares for book value determina on 11,093,658 11,241,992 11,249,304 11,249,304 11,230,514 Book value per common share $ 51.14 $ 49.83 $ 48.42 $ 47.01 $ 45.62 Less: Intangible assets per common share 6.49 6.48 6.55 6.64 6.71 Tangible book value per common share (1) 44.65 43.35 41.87 40.37 38.91 Closing market price 59.12 52.56 54.78 52.02 57.37 (1) Non-GAAP financial measure. Nonperforming asset data as of: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 Nonaccrual loans $ 29,655 $ 26,031 $ 23,040 $ 21,970 $ 8,309 Accruing loans 90 days or more past due — — — — — Total nonperforming loans 29,655 26,031 23,040 21,970 8,309 Other real estate owned (OREO) 1,536 1,006 625 1,775 2,423 Personal property repossessed 5 45 32 56 37 Total nonperforming assets $ 31,196 $ 27,082 $ 23,697 $ 23,801 $ 10,769 Total nonperforming assets to total assets 0.61% 0.54% 0.47% 0.48% 0.22% Total nonperforming loans to gross loans 0.70% 0.62% 0.56% 0.55% 0.21% Allowance for credit losses to nonperforming loans 183.66% 200.07% 224.08% 250.07% 658.80% Allowance for credit losses to gross loans 1.29% 1.24% 1.26% 1.37% 1.36% Performing modifica ons to borrowers experiencing financial difficulty $ 32,048 $ 27,072 $ 26,642 $ 23,304 $ 24,083
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9 For the three-month period ended Quarterly Summary Income Statement Data: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Interest income: Cash equivalents $ 1,059 $ 1,114 $ 1,698 $ 1,585 $ 784 AFS securi es and membership stock 5,198 5,456 5,586 5,684 5,558 Loans receivable 65,975 66,460 63,354 62,656 63,082 Total interest income 72,232 73,030 70,638 69,925 69,424 Interest expense: Deposits 27,699 28,940 28,644 28,795 29,538 Securi es sold under agreements to repurchase 204 200 191 189 226 FHLB advances 1,080 1,081 1,080 1,076 1,099 Subordinated debt 379 391 390 386 418 Total interest expense 29,362 30,612 30,305 30,446 31,281 Net interest income 42,870 42,418 40,333 39,479 38,143 Provision for credit losses 1,680 4,500 2,500 932 932 Noninterest income: Deposit account charges and related fees 2,429 2,365 2,156 2,048 2,237 Bank card interchange income 1,614 1,530 1,839 1,341 1,301 Loan servicing fees 250 263 167 224 232 Other loan fees 164 194 917 843 944 Net realized gains on sale of loans 167 175 143 114 133 Net realized gains on sale of AFS securi es — — — 48 — Earnings on bank owned life insurance 552 548 533 512 522 Insurance brokerage commissions 345 319 368 340 300 Wealth management fees 936 851 825 902 843 Other noninterest income 319 328 332 294 353 Total noninterest income 6,776 6,573 7,280 6,666 6,865 Noninterest expense: Compensa on and benefits 13,651 13,065 13,852 13,771 13,737 Occupancy and equipment, net 3,834 3,788 3,745 3,869 3,585 Data processing expense 2,666 2,513 2,573 2,359 2,224 Telecommunica ons expense 309 347 312 330 354 Deposit insurance premiums 600 620 601 674 588 Legal and professional fees 478 1,075 1,165 603 619 Adver sing 538 614 551 530 442 Postage and office supplies 333 300 336 350 283 Intangible amor za on 808 857 857 889 897 Foreclosed property expenses, net 31 58 (18) 37 73 Other noninterest expense 2,022 1,814 2,002 1,979 2,074 Total noninterest expense 25,270 25,051 25,976 25,391 24,876 Net income before income taxes 22,696 19,440 19,137 19,822 19,200 Income taxes 4,546 3,790 3,351 4,139 4,547 Net income 18,150 15,650 15,786 15,683 14,653 Less: Distributed and undistributed earnings allocated to par cipa ng securi es 79 67 71 71 61 Net income available to common shareholders $ 18,071 $ 15,583 $ 15,715 $ 15,612 $ 14,592 Basic earnings per common share $ 1.62 $ 1.39 $ 1.40 $ 1.39 $ 1.30 Diluted earnings per common share 1.62 1.38 1.39 1.39 1.30 Dividends per common share 0.25 0.25 0.23 0.23 0.23 Average common shares outstanding: Basic 11,153,000 11,247,000 11,250,000 11,238,000 11,231,000 Diluted 11,179,000 11,272,000 11,270,000 11,262,000 11,260,000
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10 For the three-month period ended Quarterly Average Balance Sheet Data: Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (dollars in thousands) 2025 2025 2025 2025 2024 Interest-bearing cash equivalents $ 103,156 $ 97,948 $ 151,380 $ 143,206 $ 64,976 AFS securi es and membership stock 478,219 493,125 498,491 508,642 479,633 Loans receivable, gross 4,181,158 4,118,859 4,018,769 4,003,552 3,989,643 Total interest-earning assets 4,762,533 4,709,932 4,668,640 4,655,400 4,534,252 Other assets 321,042 302,630 299,217 290,739 291,217 Total assets $ 5,083,575 $ 5,012,562 $ 4,967,857 $ 4,946,139 $ 4,825,469 Interest-bearing deposits $ 3,782,764 $ 3,741,361 $ 3,727,836 $ 3,737,849 $ 3,615,767 Securi es sold under agreements to repurchase 20,000 18,043 15,000 15,000 15,000 FHLB advances 102,046 102,410 104,053 106,187 107,054 Subordinated debt 23,228 23,215 23,201 23,189 23,175 Total interest-bearing liabili es 3,928,038 3,885,029 3,870,090 3,882,225 3,760,996 Noninterest-bearing deposits 541,110 533,809 524,860 513,157 524,878 Other noninterest-bearing liabili es 51,411 41,937 37,014 31,282 31,442 Total liabili es 4,520,559 4,460,775 4,431,964 4,426,664 4,317,316 Total stockholders’ equity 563,016 551,787 535,893 519,475 508,153 Total liabili es and stockholders’ equity $ 5,083,575 $ 5,012,562 $ 4,967,857 $ 4,946,139 $ 4,825,469 Return on average assets 1.42% 1.24% 1.27% 1.29% 1.20% Return on average common stockholders’ equity 12.8% 11.3% 11.8% 12.2% 11.4% Net interest margin 3.57% 3.57% 3.47% 3.44% 3.34% Net interest spread 3.05% 3.02% 2.93% 2.91% 2.77% Efficiency ra o 50.9% 51.1% 54.6% 55.1% 55.3%