2023 Q3 Form 10-K Financial Statement

#000155837023015713 Filed on September 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $58.11M $54.28M $176.4M
YoY Change 66.03% 71.93% 50.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.439M $2.512M $4.923M
YoY Change 25.35% 59.59% 9.89%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $22.71M $18.07M $49.67M
YoY Change 250.02% 373.65% 273.47%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $16.64M $19.50M $49.46M
YoY Change 38.12% 16.86% -17.43%
Income Tax $3.487M $3.939M $10.23M
% Of Pretax Income 20.96% 20.2% 20.68%
Net Earnings $13.15M $15.49M $39.05M
YoY Change 36.95% 18.41% -17.21%
Net Earnings / Revenue 22.63% 28.54% 22.13%
Basic Earnings Per Share $1.16 $1.37 $3.86
Diluted Earnings Per Share $1.16 $1.37 $3.66
COMMON SHARES
Basic Shares Outstanding 11.34M 11.33M 10.12M
Diluted Shares Outstanding 11.30M

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $88.19M $53.98M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $94.72M $92.40M $92.40M
YoY Change 34.26% 29.5% 29.5%
Goodwill $50.73M $50.77M
YoY Change 85.89% 86.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $4.470B $4.360B $4.360B
YoY Change 29.76% 35.63% 35.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.40M $25.87M $25.87M
YoY Change 88.63% 83.81% 83.81%
Accrued Expenses $8.500M $6.125M $6.125M
YoY Change 123.51% 59.13% 59.13%
Deferred Revenue
YoY Change
Short-Term Debt $31.99M $31.99M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.90M $31.99M $31.99M
YoY Change 95.47% 78.51% 78.51%
LONG-TERM LIABILITIES
Long-Term Debt $23.10M $23.11M $23.11M
YoY Change 0.14% 0.22% 0.22%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $23.10M $23.11M $23.11M
YoY Change 0.14% 0.22% 0.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.90M $31.99M $31.99M
Total Long-Term Liabilities $23.10M $23.11M $23.11M
Total Liabilities $4.016B $3.914B $3.914B
YoY Change 28.79% 35.25% 35.25%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $119.0K $119.0K
YoY Change 21.43% 21.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $453.9M $446.1M $446.1M
YoY Change
Total Liabilities & Shareholders Equity $4.470B $4.360B $4.360B
YoY Change 29.76% 35.63% 35.63%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $13.15M $15.49M $39.05M
YoY Change 36.95% 18.41% -17.21%
Depreciation, Depletion And Amortization $1.439M $2.512M $4.923M
YoY Change 25.35% 59.59% 9.89%
Cash From Operating Activities $14.21M $22.66M $62.02M
YoY Change 101.2% 5.54% -7.9%
INVESTING ACTIVITIES
Capital Expenditures $1.427M $1.814M $6.039M
YoY Change 259.45% -819.84% 30.8%
Acquisitions
YoY Change
Other Investing Activities -$72.25M -$137.9M -$207.4M
YoY Change -72.91% 4.72% -30.72%
Cash From Investing Activities -$73.68M -$139.7M -$213.4M
YoY Change -72.42% 5.89% -29.78%
FINANCING ACTIVITIES
Cash Dividend Paid $2.380M $8.632M
YoY Change 22.81% 19.99%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 93.69M 56.45M 118.6M
YoY Change -57.61% -209.98% -40.67%
NET CHANGE
Cash From Operating Activities 14.21M 22.66M 62.02M
Cash From Investing Activities -73.68M -139.7M -213.4M
Cash From Financing Activities 93.69M 56.45M 118.6M
Net Change In Cash 34.21M -60.58M -32.83M
YoY Change -187.56% -62.55% -10.75%
FREE CASH FLOW
Cash From Operating Activities $14.21M $22.66M $62.02M
Capital Expenditures $1.427M $1.814M $6.039M
Free Cash Flow $12.78M $20.84M $55.98M
YoY Change 91.78% -4.04% -10.75%

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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Use of Estimates. </i>The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="color:#212529;">On July 1, 2020, </span>the Company adopted ASU 2016-13, <i style="font-style:italic;">Financial Instruments – Credit Losses</i>, also known as the current expected credit loss (“CECL”) standard,<span style="color:#212529;"> which created material changes to the existing critical accounting policy that existed at June 30, 2020</span><i style="color:#212529;font-style:italic;">.</i><span style="color:#212529;"> Effective July 1, 2020</span><i style="color:#212529;font-style:italic;">,</i><span style="color:#212529;"> the significant accounting policy which was considered to be the most critical in preparing the Company’s consolidated financial statements is the determination of the allowance for credit losses (“ACL”) on loans.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="color:#212529;">Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, and estimated fair values of purchased loans.</span></p>
CY2023 smbc Term Of Interest Bearing Deposits
TermOfInterestBearingDeposits
P3Y
CY2023 smbc Number Of Loan Segments
NumberOfLoanSegments
24
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023 us-gaap Finite Lived Intangible Assets Amortization Method
FiniteLivedIntangibleAssetsAmortizationMethod
using the straight line method
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q2 smbc Debt Securities Reported Less Than Their Historical Cost Percent Of Investment Portfolio
DebtSecuritiesReportedLessThanTheirHistoricalCostPercentOfInvestmentPortfolio
0.780
CY2022Q2 smbc Fair Value Of Debt Securities Reported Less Than Their Historical Cost
FairValueOfDebtSecuritiesReportedLessThanTheirHistoricalCost
219300000
CY2023Q2 smbc Fiduciary Assets
FiduciaryAssets
102000000.0
CY2022Q2 smbc Fiduciary Assets
FiduciaryAssets
0
CY2023Q2 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
464200000
CY2022Q2 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
252300000
CY2022Q2 smbc Debt Securities Reported Less Than Their Historical Cost Percent Of Investment Portfolio
DebtSecuritiesReportedLessThanTheirHistoricalCostPercentOfInvestmentPortfolio
0.932
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
138235000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3057000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
187305000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
26499000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
325540000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
29556000
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
180937000
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
15584000
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
445616000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1494000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
29556000
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0
CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
417554000
CY2022Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
257760000
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
109000
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
22475000
CY2022Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0
CY2022Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
235394000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
3233000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
3221000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
24395000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
23380000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
59286000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
56089000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
65555000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
64612000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
152469000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
147302000
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
445616000
CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
417554000
CY2022 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2023 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2023Q2 smbc Fair Value Of Debt Securities Reported Less Than Their Historical Cost
FairValueOfDebtSecuritiesReportedLessThanTheirHistoricalCost
325500000
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
6891000
CY2022Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
219282000
CY2022Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
22475000
CY2022 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
0
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
0
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee And Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess
3978393000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee And Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess
2843499000
CY2023Q2 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
359196000
CY2022Q2 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
123656000
CY2023Q2 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-299000
CY2022Q2 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-453000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
47820000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
33192000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
3571078000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2686198000
CY2023 smbc Number Of Purchased Participation Loans
NumberOfPurchasedParticipationLoans
86
CY2023Q2 smbc Purchased Participation Loans
PurchasedParticipationLoans
155600000
CY2022 smbc Number Of Purchased Participation Loans
NumberOfPurchasedParticipationLoans
31
CY2022Q2 smbc Purchased Participation Loans
PurchasedParticipationLoans
70000000.0
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivableExcludingAccruedInterestPurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
17100000
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivableExcludingAccruedInterestPurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
1500000
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date
FinancingReceivableExcludingAccruedInterestPurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDate
1000000.0
CY2023 smbc Allowance For Credit Loss Exclusive Of Impact From Acquisition
AllowanceForCreditLossExclusiveOfImpactFromAcquisition
10100000
CY2023 smbc Financing Receivable Allowance For Credit Loss Exclusive Of Impact From Acquisition
FinancingReceivableAllowanceForCreditLossExclusiveOfImpactFromAcquisition
8900000
CY2023 smbc Off Balance Sheet Credit Exposure Exclusive Of Impact From Acquisition
OffBalanceSheetCreditExposureExclusiveOfImpactFromAcquisition
1200000
CY2023 smbc Net Charge Offs As Percentage Of Average Loans Outstanding
NetChargeOffsAsPercentageOfAverageLoansOutstanding
0.0002
CY2022 smbc Net Charge Offs As Percentage Of Average Loans Outstanding
NetChargeOffsAsPercentageOfAverageLoansOutstanding
0.0001
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
33192000
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
14131000
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
673000
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
49000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
47820000
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
33222000
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-66000
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
153000
CY2022 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
69000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
33192000
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
25139000
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-602000
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
734000
CY2021 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
86000
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
33222000
CY2022Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
3358000
CY2023 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
2930000
CY2023Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
6288000
CY2021Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
1805000
CY2022 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
1553000
CY2022Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
3358000
CY2020Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
1959000
CY2021 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
-422000
CY2021Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
1805000
CY2023 smbc Credit Quality Indicators Threshold Of Lending Relationships Annual Credit Analysis
CreditQualityIndicatorsThresholdOfLendingRelationshipsAnnualCreditAnalysis
3000000
CY2023 smbc Credit Quality Indicators Minimum Loan Relationships Subject To Independent Loan Review
CreditQualityIndicatorsMinimumLoanRelationshipsSubjectToIndependentLoanReview
1000000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
1112842000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
969065000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
623440000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
213074000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
108106000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
195293000
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
397377000
CY2023Q2 smbc Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee After Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAfterLoanInProcess
3619197000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
1146932000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
721665000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
251984000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
103484000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
78834000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
148060000
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
268884000
CY2022Q2 smbc Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee After Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAfterLoanInProcess
2719843000
CY2023Q2 smbc Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee After Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAfterLoanInProcess
3619197000
CY2023Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
109000
CY2022Q2 smbc Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee After Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAfterLoanInProcess
2719843000
CY2023Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
7543000
CY2022Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
4118000
CY2023Q2 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
0
CY2023 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2022 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
6
CY2022Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
24500000
CY2023 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
22000
CY2023 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
29765000
CY2022 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
27000
CY2022 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
30606000
CY2023Q2 us-gaap Foreclosed Assets
ForeclosedAssets
0
CY2022Q2 us-gaap Foreclosed Assets
ForeclosedAssets
580000
CY2022Q2 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
10614000
CY2021Q2 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
10624000
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
6374000
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
6393000
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
7223000
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
6403000
CY2023 smbc Change In Related Party
ChangeInRelatedParty
782000
CY2023Q2 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
10547000
CY2022Q2 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
10614000
CY2023Q2 us-gaap Land
Land
15415000
CY2022Q2 us-gaap Land
Land
13532000
CY2023Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
79661000
CY2022Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
64730000
CY2023Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
450000
CY2022Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
142000
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
26404000
CY2022Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
20838000
CY2023Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
122000
CY2022Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
120000
CY2023Q2 us-gaap Property Subject To Or Available For Operating Lease Gross
PropertySubjectToOrAvailableForOperatingLeaseGross
6125000
CY2022Q2 us-gaap Property Subject To Or Available For Operating Lease Gross
PropertySubjectToOrAvailableForOperatingLeaseGross
3849000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
128177000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103211000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35780000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
31864000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92397000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
71347000
CY2023Q2 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
11
CY2023 smbc Income Recognized From Lessor Agreements
IncomeRecognizedFromLessorAgreements
228000
CY2022 smbc Income Recognized From Lessor Agreements
IncomeRecognizedFromLessorAgreements
279000
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
720000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
451000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
721000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
711000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
707000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
694000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
623000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7359000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10815000
CY2023Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
597600000
CY2022Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
426929000
CY2023Q2 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
1328423000
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CY2022Q2 smbc Certificate Of Deposits
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3725540000
CY2022Q2 us-gaap Deposits
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30000000
CY2023Q2 us-gaap Federal Home Loan Bank Advances
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CY2022 us-gaap Defined Contribution Plan Administrative Expenses
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CY2021 us-gaap Defined Contribution Plan Administrative Expenses
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421000
CY2023 smbc Retirement Plan Vesting Period
RetirementPlanVestingPeriod
P5Y
CY2023 smbc Equity Incentive Plan Description
EquityIncentivePlanDescription
The Company adopted an Equity Incentive Plan (the EIP) in 2008, reserving for award 132,000 shares (split-adjusted). EIP shares were available for award to directors, officers, and employees of the Company and its affiliates by a committee of outside directors.
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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0.2802
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0.2772
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0.0182
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16.68
CY2022Q2 smbc Fair Value Assumptions Weighted Average Fair Value Of Options Granted During The Year
FairValueAssumptionsWeightedAverageFairValueOfOptionsGrantedDuringTheYear
16.38
CY2021Q2 smbc Fair Value Assumptions Weighted Average Fair Value Of Options Granted During The Year
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CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
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CY2022Q2 smbc Deferred Tax Assets Provision For Losses On Loans
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974000
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709000
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2348000
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224000
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1974000
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120000
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2914000
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12860000
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023 smbc Income Tax Reconciliation Deduction Life Insurance
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318000
CY2022 smbc Income Tax Reconciliation Deduction Life Insurance
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CY2021 smbc Income Tax Reconciliation Deduction Life Insurance
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CY2022 us-gaap Income Tax Reconciliation Tax Credits
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Banking Regulation Capital Conservation Buffer Capital Conserved Minimum
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CY2023 us-gaap Loans And Leases Receivable Commitments Fixed Rates
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CY2022 us-gaap Distributed Earnings
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CY2022 smbc Denominator For Diluted Earnings Per Share
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CY2021 smbc Denominator For Diluted Earnings Per Share
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CY2022 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
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