Magazine : Archives : 1st Quarter 2021

Love in a Cold Climate

Over the past three years, Southern Missouri Bancorp closed three small acquisitions. But Greg Steffens, CEO of the $2.5 billion, Poplar Bluff, Missouri-based bank, believes deal activity — already in deep freeze as a result of the Covid-19 pandemic — will remain stalled for the next quarter or two. Evaluating a target’s credit quality promises to be challenging, given the high level of loan deferrals issued by the industry to provide a helping hand to customers. There’s also the still-looming coronavirus to contend with, which was still threatening the U.S. economy when we spoke in October 2020. Another vital consideration...