Monitor the say-on-pay vote outcome for any sign of shareholder discontent; last year's approval rate is not disclosed. The board refreshment with a new independent nominee is a modest governance positive. Watch for any future insider selling patterns following the proxy filing.
Price Chart
Executive Summary
Southern Missouri Bancorp filed its definitive proxy statement for the 2026 annual meeting, seeking election of three directors (Rebecca M. Brooks, David L. McClain, and new nominee Mary Jane Judy), an advisory say-on-pay vote, and ratification of Forvis Mazars as auditor. The board is shrinking from 11 to 10 members as two long-serving directors retire. CEO Greg Steffens' total compensation for fiscal 2026 was $756,303, with net income of $71.8 million and diluted EPS of $6.43, both up significantly year-over-year. The filing is routine with no contested items or shareholder proposals.
Key Facts
- Annual meeting scheduled for October 26, 2026; record date September 4, 2026; 11,013,279 shares outstanding.
- Board reduced from 11 to 10 directors; two incumbents (Robison, Tooley) retiring; new nominee Mary Jane Judy proposed.
- CEO Greg Steffens total compensation for FY2026: $756,303 (salary $468,000, bonus $132,305, option awards $38,070, stock awards $37,776, all other $80,152).
- Net income for FY2026: $71.8 million (up from $58.6 million in FY2025); diluted EPS $6.43 (up from $5.18).
- CEO pay ratio: 16.5:1 (CEO $756,303 vs median employee $45,932).
- BlackRock holds 6.41% of outstanding shares; directors and officers as a group hold 14.58%.
- Audit fees for FY2026: $680,014; audit-related fees $54,600; tax fees $165,968.
- Related party transaction: Director Daniel Jones' affiliate received ~$142,000 for lease/maintenance services; his son-in-law employed as Regional President ($225,000 salary).
- Loans to directors and executive officers totaled ~$39.1 million (6.6% of shareholders equity), all performing.
- No shareholder proposals on the ballot.
Financial Impact
No material financial impact from this routine proxy filing. FY2026 net income $71.8 million, diluted EPS $6.43.
Risk Factors
- CEO/Chairman combined role concentrates power; lead director structure partially mitigates.
- Related party transactions with director Jones' entities and family member employment present governance risk.
- Director loans at 6.6% of equity, though performing, could become a concern if credit conditions deteriorate.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001104659-26-109259 |
| Document: 0001104659-26-109259-index-headers.html | 0001104659-26-109259 |
| Document: 0001104659-26-109259-index.html | 0001104659-26-109259 |
| Document: 0001104659-26-109259.txt | 0001104659-26-109259 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Press Release | $71.77 $71.90 | ▲ +0.18% | ▲ +0.70% | $72.22 (+0.63%) |
Oct 21, 2026 6d ago | 8-K | $71.77 $71.90 | ▲ +0.18% | ▲ +0.70% | $72.22 (+0.63%) |
Sep 21, 2026 5w ago | DEF 14A | $72.03 $71.45 | ▼ −0.81% | ▼ −0.79% | $72.22 (+0.26%) |
Aug 18, 2026 10w ago | 144 | $75.81 $74.01 | ▼ −2.37% | ▼ −2.58% | $72.22 (−4.74%) |
Jul 22, 2026 13w ago | 8-K | $77.72 $77.63 | ▼ −0.12% | ▼ −0.22% | $72.22 (−7.08%) |
Jul 22, 2026 13w ago | Press Release | $77.72 $77.63 | ▼ −0.12% | ▼ −0.22% | $72.22 (−7.08%) |
US Market Status
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