Exhibit 99.1

Graphic

FOR IMMEDIATE RELEASE

Contact: Matt Funke, CFO

JULY 26, 2021

(573) 778-1800

SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR FOURTH QUARTER OF FISCAL 2021;

DECLARES QUARTERLY DIVIDEND OF $0.20 PER COMMON SHARE;

CONFERENCE CALL SCHEDULED FOR TUESDAY, JULY 27, AT 3:30PM CENTRAL TIME

Poplar Bluff, Missouri - Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the fourth quarter of fiscal 2021 of $13.7 million, an increase of $6.8 million, or 98.3%, as compared to the same period of the prior fiscal year. The increase was attributable in large part to a negative provision for credit losses in the current period, as compared to a charge in the year ago period. The Company also experienced an increase in net interest income and noninterest income, and a decrease in noninterest expense. These improvements were partially offset by an increase in provision for income taxes. Preliminary net income was $1.53 per fully diluted common share for the fourth quarter of fiscal 2021, an increase of $.77 as compared to the $.76 per fully diluted common share reported for the same period of the prior fiscal year. For fiscal year 2021, preliminary net income was $47.2 million, an increase of $19.6 million, or 71.3%, as compared to the prior fiscal year. Preliminary net income was $5.22 per fully diluted common share for fiscal 2021, an increase of $2.23 as compared to the $2.99 per fully diluted common share reported for fiscal 2020.

Highlights for the fourth quarter of fiscal 2021:

Annualized return on average assets was 2.01%, while annualized return on average common equity was 19.8%, as compared to 1.10% and 10.8%, respectively, in the same quarter a year ago, and 1.71% and 16.9%, respectively, in the third quarter of fiscal 2021, the linked quarter.

Earnings per common share (diluted) were $1.53, up $.77, or 101.3%, as compared to the same quarter a year ago, and up $.26, or 20.5%, from the third quarter of fiscal 2021, the linked quarter.

The Company recorded a negative provision for credit losses totaling $2.6 million, consisting of a negative provision for credit losses on its outstanding loan balances of $2.0 million, combined with a negative provision for credit losses on off-balance sheet credit exposures of $628,000. In the same quarter a year ago, provision for loan losses totaled $1.9 million, and provision for off-balance sheet credit exposures, reported separately, totaled $132,000. Nonperforming assets were $8.1 million, or 0.30% of total assets, at June 30, 2021, as compared to $9.4 million, or 0.34% of total assets, at March 31, 2021, and $11.2 million, or 0.44% of total assets, at June 30, 2020, one year prior.

Net loans increased $65.4 million during the quarter, despite balances of SBA Paycheck Protection Program (PPP) loans declining by $37.5 million. For the full fiscal year, net loan balances were up $58.3 million, while PPP loan balances were down $69.3 million.

Deposit balances decreased $38.0 million in the quarter. Nonmaturity accounts were down slightly, while certificates of deposit continued to decline more significantly. For the full fiscal year, deposits were up $146.0 million.

1


The following information was filed by Southern Missouri Bancorp, Inc. (SMBC) on Tuesday, July 27, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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