Home Markets SOUTHERN MISSOURI BANCORP AND FORTUNE FINANCIAL ANNOUNCE AGREEMENT TO MERGE | 2021-09-28...

SOUTHERN MISSOURI BANCORP AND FORTUNE FINANCIAL ANNOUNCE AGREEMENT TO MERGE | 2021-09-28 | Press Releases

4

Poplar Bluff, Missouri, Sept. 28, 2021 (GLOBE NEWSWIRE) — Southern Missouri Bancorp, Inc. (NASDAQ: SMBC, “Southern Missouri”), the parent corporation of Southern Bank, and Fortune Financial Corporation (“Fortune”), the parent company of FortuneBank, today announced the signing of a definitive merger agreement whereby Southern Missouri will acquire Fortune in a stock and cash transaction.

Fortune operates two branches in Jefferson and St. Louis Counties, Missouri, both located within the St. Louis, Missouri, MSA. At June 30, 2021, Fortune’s consolidated assets were $253.7 million, including loans, net, of $209.3 million, while deposits totaled $214.5 million.

Southern Missouri reported total assets at June 30, 2021, of approximately $2.7 billion, including loans, net, of $2.2 billion, and total deposits of $2.3 billion. On a pro forma basis, following the acquisition, the combined company’s total assets will approximate $3.0…

Click here for full article…stockhouse.com