Southern Missouri Bancorp, Inc. Announces Completion Of Acquisition Of Citizens State Bankshares Of Bald Knob

Poplar Bluff, Feb. 21, 2014 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. ("SouthernMissouri," NASDAQ: SMBC), of Poplar Bluff, Missouri, the parentcompany of Southern Bank, announced that its acquisition ofCitizens State Bankshares of Bald Knob, Inc., ("Citizens") and itssubsidiary, Citizens State Bank, was completed today.

Southern Missouri is the holding company forSouthern Bank, headquartered in Poplar Bluff, Missouri, operating22 branch offices in Missouri and Arkansas. Citizens isheadquartered in Bald Knob, Arkansas, and operates three branchoffices in Arkansas. Greg Steffens, President and Chief ExecutiveOfficer of Southern Missouri, welcomed Citizens State Bankcustomers.  "We are very happy to offer these communities awider selection of services and look forward to growing with thesemarkets," said Steffens. 

Larry Kircher, Chairman & CEO of Citizens,who will remain with the combined entity in an advisory capacity,commented, "As we knew entering into this agreement with SouthernBank, we are bringing to our community an organization with astrong commitment to customer service and local decision-making.Citizens depositors can look forward to a great relationship withour organization going forward."

As of December 31, 2013, Citizens State Bankreported total assets of $70 million, loans, net, of $12 million,and deposits of $62 million.

Except for the historical information containedherein, the matters discussed in this press release may be deemedto be forward-looking statements that involve risks anduncertainties, including changes in economic conditions in theCompany's market area, changes in policies by regulatory agencies,fluctuations in interest rates, the risks of lending and investingactivities, including changes in the level and direction of loandelinquencies and charge-offs and changes in estimates of theadequacy of the allowance for loan losses, demand for loans anddeposits in the Company's market area, and competition. Actualstrategies and results in future periods may differ materially fromthose currently expected. These forward-looking statementsrepresent the Company's judgment as of the date of this release.The Company disclaims however, any intent or obligation to updatethese forward-looking statements.

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