Southern Bank and Southern Missouri Bancorp, Inc. Proposes Retirement of John R. Abercrombie as A Director
September 24, 2019 at 02:59 am IST
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Southern Missouri Bancorp, Inc. and Southern Bank proposed at its Annual Meeting to be held on October 28, 2019, Mr. John R. Abercrombie retiring as a director of the company and the Bank effective at the conclusion of the Annual Meeting as a result of the company’s age limitation contained in its bylaws. Effective upon Mr. Abercrombie’s retirement, the size of the board of the Company and the Bank will be reduced to nine members.
Southern Missouri Bancorp, Inc. is a bank holding company and the parent company of Southern Bank (Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individuals and corporate customers in its market areas. The principal business of the Bank consists of attracting retail deposits from the general public and using such deposits along with wholesale funding from the Federal Home Loan Bank of Des Moines, (FHLB), and brokered deposits, to invest in one- to-four-family residential mortgage loans, mortgage loans secured by commercial real estate, commercial non-mortgage business loans, construction loans, and consumer loans. These funds are also used to purchase mortgage-backed and related securities (MBS), municipal bonds, and other permissible investments. The Bank conducts its business from its headquarters in Poplar Bluff, as well as about 62 full-service branch offices and three limited-service branch offices.
SOUTHERN MISSOURI BANCORP, INC. 
