Southern Missouri Bancorp in Poplar Bluff has filed to sell $20 million in preferred stock it issued to the Treasury Department as part of the Small Business Lending Fund.
The $1.3 billion-asset company noted in a regulatory filing Tuesday that the Treasury, which obtained the shares in July 2011, has no obligation to sell the stock. Southern Missouri used proceeds from the SBLF to exit the Troubled Asset Relief Program.
Southern Missouri also filed to sell $75 million in equity and debt over time. The company said it will use any capital raised to reduce its debt. Southern Missouri last year paid $22.9 million to buy Peoples Banking Co. in Nixa, Mo. Southern Missouri also assumed $6.5 million of Peoples' debt, while retiring another $2.9 million of debt.