SOUTHERN MISSOURI BANCORP Business Summary

Southern Missouri Bancorp, Inc. (SMBC) operates as the bank holding company for Southern Bank, a regional financial institution that generates revenue primarily through net interest income derived from a diverse loan portfolio and investment securities. The company’s business model is structured across three primary segments: commercial lending (45% of revenue), retail banking (33%), and mortgage banking (22%), supplemented by non-interest income from wealth management, trust services, and card interchange fees. As a community-focused regional consolidator, SMBC maintains a strong presence across Missouri, Arkansas, and Illinois with over 60 locations. It competes directly with mid-tier regional players such as Great Southern Bancorp (GSBC), First Busey (BUSE), and First Merchants (FRME), positioning itself as a disciplined, high-margin alternative that leverages local market expertise and strategic M&A to maintain a competitive efficiency ratio near 49%. Leadership is anchored by Chairman and CEO Greg A. Steffens, who has led the company since 2003 and previously served as a bank examiner for the Office of Thrift Supervision. He is supported by President and Chief Administrative Officer Matthew T. Funke, a veteran executive with over 20 years at the firm, and Executive VP and CFO Stefan Chkautovich, who joined in 2023 from Midwest Regional Bank and brings extensive experience from the Federal Reserve Bank of St. Louis. The board includes Daniel Jones, the former founder and CEO of FortuneBank, who joined following a 2022 merger, and notable long-term directors such as Todd E. Hensley and Sammy A. Schalk. The company’s pedigree is rooted in its 1887 founding as a mutual savings association, and it currently maintains a stable institutional investor base led by Vanguard and Dimensional Fund Advisors, who collectively hold a majority stake.