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Southern Missouri BANCORP Exhibit 99.1 FOR IMMEDIATE RELEASE April 26 , 2021 Contact : Matt Funke , CFO ( 573 ) 778-1800 SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR THIRD QUARTER OF FISCAL 2021 ; DECLARES QUARTERLY DIVIDEND OF $ 0.16 PER COMMON SHARE ; CONFERENCE CALL SCHEDULED FOR TUESDAY , APRIL 27 , AT 3:30 PM 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 third quarter of fiscal 2021 of $ 11.5 million , an increase of $ 6.4 million , or 124.7 % , as compared to the same period of the prior fiscal year . The increase was attributable to increases in net interest income , a decline in provision for credit losses , an increase in noninterest income , and a decline in noninterest expense , partially offset by an increase in provision for income taxes . Preliminary net income was $ 1.27 per fully diluted common share for the third quarter of fiscal 2021 , an increase of $ .72 as compared to the $ .55 per fully diluted common share reported for the same period of the prior fiscal year . • • Highlights for the third quarter of fiscal 2021 : Annualized return on average assets was 1.71 % , while annualized return on average common equity was 16.9 % , as compared to 0.88 % and 8.1 % , respectively , in the same quarter a year ago , and 1.87 % and 18.3 % , respectively , in the second quarter of fiscal 2021 , the linked quarter . Earnings per common share ( diluted ) were $ 1.27 , up $ .72 , or 130.9 % , as compared to the same quarter a year ago , and down $ .05 , or 3.8 % , from the second quarter of fiscal 2021 , the linked quarter . • Provision for credit losses represented a recovery of $ 409,000 , all of which was due to a reduction in the Company's required allowance for off - balance sheet credit exposure , while the allowance for credit losses was unchanged aside from net charge offs of $ 244,000 recognized during the period . In the same quarter a year ago , provision for loan losses totaled $ 2.9 million , and provision for off - balance sheet credit exposure totaled $ 300,000 . Nonperforming assets were $ 9.4 million , or 0.34 % of total assets , at March 31 , 2021 , as compared to $ 11.1 million , or 0.42 % of total assets , at December 31 , 2020 , and $ 14.9 million , or 0.63 % of total assets , at March 31 , 2020 , one year prior . • Net loans increased $ 13.5 million during the quarter , with balances of SBA Paycheck Protection Program ( PPP ) loans growing by $ 5.0 million , as new PPP originations slightly outpaced approximately $ 42 million in forgiveness payments received during the quarter . . Deposit balances increased $ 103.7 million in the quarter , which is typically one of our stronger quarters for deposit growth , attributable in part this year to continued receipt by depositors of economic impact payments and PPP proceeds . Deposits continued to migrate away from certificates of deposit and to nonmaturity accounts , with most growth in transaction accounts . • Net interest margin for the quarter was 3.68 % , up from the 3.63 % reported for the year ago period , and down from 3.92 % reported for the second quarter of fiscal 2021 , the linked quarter . Net interest income was increased significantly by accelerated accretion of deferred origination fees on PPP loans as those