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Slide #12. Southern Missouri Bancorp — Peoples Service Company
Southern Missouri Bancorp (NASDAQ:SMBC)
Peoples Service Company
Southern Missouri Bancorp, Inc. (NASDAQ: SMBC, "Southern Missouri"), the parent corporation of Southern Bank, and Peoples Service Company ("Peoples"), which is the 80% owner of Peoples Banking Company ("PBC"), which is the 100% owner of Peoples Bank of the Ozarks, today announced the signing of a definitive merger agreement whereby Southern Missouri will acquire Peoples in a stock and cash transaction. The minority shareholders of PBC will be entitled to receive the merger consideration payable under the terms of the merger agreement.
Southern Missouri Bancorp is a bank holding company. Through its subsidiary, Southern Bank, Co. is engaged in accepting retail deposits from the general public and using such deposits along with wholesale funding from the Federal Home Loan Bank of Des Moines, and to a lesser extent, brokered deposits, to invest in one- to four-family residential mortgage loans, mortgage loans secured by commercial real estate, commercial non-mortgage business loans, and consumer loans. Co. provides a selection of deposit instruments, including interest-bearing and noninterest-bearing transaction accounts, money market deposit accounts, saving accounts, certificates of deposit and retirement savings plans.
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Strong Buy (4.00 out of 4)