|x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 
|- | ----------------------------------------------------------------------------------------
|  | For the quarterly period ended        December 31, 2001                                 
|  | OR                                                                                      
|  | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
|  | For the transition period from  ________  to  _______                                   

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|**Missouri**                             | **43-1665523**        
|---------------------------------------- | ----------------------
|(State or jurisdiction of incorporation) | (IRS employer id. no.)

---

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Yes   X     No

|Class
	Common Stock, Par Value $.01 | Outstanding at January 31, 2002

1,207,235 Shares
|----------------------------------- | -------------------------------------------------

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|******PART I.** | **Financial Information (Unaudited)** | **PAGE NO.**                                           
|--------------- | ------------------------------------- | -------------------------------------------------------
|****           
|                | Item 1.                               | -                                                      
|               
|                |                                       | -                                                      
|               
|                |                                       | -                                                      
|                |                                       |                                                        
|               
|                |                                       | -                                                      
|               
|                |                                       | -                                                      
|               
|                | Item 2.                               | Management's Discussion and Analysis of Financial      
|                |                                       |                                                        
|               
|**PART II.**    | **OTHER INFORMATION**                 | ****13                                                 
|               
|                | Item 1.                               | Legal Proceedings****                                  
|               
|                | Item 2.                               | Changes in Securities and Use of Proceeds****          
|               
|                | Item 3.                               | Defaults upon Senior Securities****                    
|               
|                | Item 4.                               | Submission of Matters to a Vote of Security-Holders****
|               
|                | Item 5.                               | Other Information****                                  
|               
|                | Item 6.                               | Exhibits and Reports on Form 8-K****                   
|               
|                |                                       | -                                                      

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|                                              |                                                |                                                             | December 31, 2001 | June 30, 2001
|--------------------------------------------- | ---------------------------------------------- | ----------------------------------------------------------- | ----------------- | -------------
|                                              |                                                |                                                             | (Unaudited)       |              
|Cash and cash equivalents                     | $9,811,316                                     | $10,710,122                                                
|Investment and mortgage-backed securities     |                                                |                                                            
|                                              | Available for sale - at estimated market value |                                                             |                  
|                                              |                                                | (amortized cost $35,495,329 and $34,728,747 at December 31, | 35,913,545        | 35,121,355   
|                                              |                                                | 2001 and June 30, 2001, respectively)                       |                   |              
|Stock in Federal Home Loan Bank of Des Moines | 2,200,000                                      | 2,150,000                                                  
|Loans receivable, net                         | 195,153,759                                    | 180,856,594                                                
|Accrued interest receivable                   | 1,453,518                                      | 1,601,830                                                  
|Foreclosed real estate, net                   | 731,585                                        | 1,162,156                                                  
|Premises and equipment                        | 5,632,068                                      | 5,068,808                                                  
|Goodwill                                      | 3,497,077                                      | 3,624,706                                                  
|Prepaid expenses and other assets             | 234,421                                        | 198,462                                                    
|                                              | Total assets                                   | $254,627,289                                                | $240,494,033     

|Deposits                                                    | $181,404,740                               | $173,281,419
|----------------------------------------------------------- | ------------------------------------------ | ------------
|Securities sold under agreements to repurchase              | 4,285,391                                  | 4,115,142   
|Advances form FHLB of Des Moines                            | 44,000,000                                 | 37,000,000  
|Advances from borrowers for taxes and insurance             | 93,305                                     | 280,112     
|Accounts payable and other liabilities                      | 740,468                                    | 1,095,738   
|Accrued interest payable                                    | 706,240                                    | 1,139,134   
|                                                            | Total liabilities                          | 231,230,144 
|Commitments and contingencies                               |                                            |             
|Preferred stock, $.01 par value; 500,000 shares authorized; |                                            |             
|                                                            | none issued and outstanding                | -           
|Common stock, $.01 par value; 3,000,000 shares authorized;  |                                            |             
|                                                            | 1,803,201 shares issued                    | 18,032      
|Additional paid-in capital                                  | 17,470,334                                 | 17,450,851  
|Retained earnings, substantially restricted                 | 16,105,284                                 | 15,372,440  
|Treasury stock of 595,966 shares at 12/31/01 and            | (10,161,881)                               | (9,164,892) 
|                                                            | 530,621 shares at 6/30/01, at cost         |             
|Unearned employee benefits                                  | (298,101)                                  | (341,287)   
|Accumulated other comprehensive income                      | 263,477                                    | 247,344     
|                                                            | Total stockholders' equity                 | 23,397,145  
|                                                            | Total liabilities and stockholders' equity | $254,627,289

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|                                            |                                                  |                                               | Three-months ended

December 31, | Six-months endedDecember 31,
|------------------------------------------- | ------------------------------------------------ | --------------------------------------------- | -------------------------------- | ----------------------------
|                                            |                                                  |                                               | 2001                             | 2000                        
|**INTEREST INCOME:**                        | ****                                             |                                               |                                  |                             
|                                            | ****Loans receivable                             | $3,718,722                                    | $3,476,939                       | $7,478,626                  
|                                            | Investment securities                            | 112,242                                       | 378,031                          | 239,366                     
|                                            | Mortgage-backed and related securities           | 373,924                                       | 201,244                          | 749,913                     
|                                            | Other interest-earning assets                    | 23,691                                        | 25,622                           | 77,660                      
|                                            |                                                  | Total interest income                         | 4,228,579                        | 4,081,836                   
|                                            |                                                  |                                               |                                  |                             
|**INTEREST EXPENSE:**                       |                                                  |                                               |                                  |                             
|                                            | Deposits                                         | 1,418,834                                     | 1,872,819                        | 3,153,295                   
|                                            | Securities sold under agreements                 | 19,349                                        | 54,486                           | 47,521                      
|                                            |                                                  | to repurchase                                 |                                  |                             
|                                            | Other borrowings                                 | 624,300                                       | 465,657                          | 1,178,433                   
|                                            |                                                  | Total interest expense                        | 2,062,483                        | 2,392,962                   
|                                            |                                                  |                                               |                                  |                             
|**NET INTEREST INCOME**                     | 2,166,096                                        | 1,688,874                                     | 4,166,316                        | 3,182,407                   
|                                            |                                                  |                                               |                                  |                             
|**PROVISION FOR LOAN LOSSES**               | 90,000                                           | 60,000                                        | 170,000                          | 230,000                     
|                                            |                                                  |                                               |                                  |                             
|**NET INTEREST INCOME AFTER**               |                                                  |                                               |                                  |                             
|                                            | **PROVISION FOR LOAN LOSSES**                    | 2,076,096                                     | 1,628,874                        | 3,996,316                   
|                                            |                                                  |                                               |                                  |                             
|**NONINTEREST INCOME:**                     |                                                  |                                               |                                  |                             
|                                            | Gain on sale of available for sale securities    | -                                             | -                                | 1,366                       
|                                            | Banking service charges                          | 123,008                                       | 126,952                          | 239,333                     
|                                            | Late charges and other fees                      | 26,193                                        | 22,336                           | 49,136                      
|                                            | Gain on sale of branches                         | -                                             | -                                | -                           
|                                            | Other income                                     | 64,492                                        | 55,016                           | 127,305                     
|                                            |                                                  | Total noninterest income                      | 213,693                          | 204,304                     
|                                            |                                                  |                                               |                                  |                             
|**NONINTEREST EXPENSE:**                    |                                                  |                                               |                                  |                             
|                                            | General and administrative:                      |                                               |                                  |                             
|                                            |                                                  | ****************Compensation and benefits     | 764,476                          | 667,230                     
|                                            |                                                  | Occupancy and equipment, net                  | 290,849                          | 193,285                     
|                                            |                                                  | SAIF deposit insurance premiums               | 7,859                            | 6,235                       
|                                            |                                                  | Professional fees                             | 51,919                           | 62,887                      
|                                            |                                                  | Advertising                                   | 40,382                           | 36,492                      
|                                            |                                                  | Postage and office supplies                   | 68,310                           | 58,881                      
|                                            |                                                  | Amortization of goodwill                      | 63,814                           | 63,814                      
|                                            |                                                  | Provision for loss on impairment of equipment | -                                | -                           
|                                            |                                                  | Other operating expenses                      | 181,850                          | 185,062                     
|                                            |                                                  |                                               | Total noninterest expense        | 1,469,459                   
|                                            |                                                  |                                               |                                  |                             
|**INCOME BEFORE INCOME TAXES**              | 820,330                                          | 559,292                                       | 1,567,165                        | 1,277,551                   
|                                            |                                                  |                                               |                                  |                             
|**PROVISION FOR INCOME TAXES**              | 284,770                                          | 177,849                                       | 535,118                          | 445,101                     
|                                            |                                                  |                                               |                                  |                             
|**NET INCOME**                              | 535,560                                          | 381,443                                       | 1,032,047                        | 832,450                     
|                                            |                                                  |                                               |                                  |                             
|**OTHER COMPREHENSIVE INCOME, NET OF
TAX:** |                                                  |                                               |                                  |                             
|                                            | Unrealized (losses) gains on AFS securities      | (122,246)                                     | 399,378                          | 16,994                      
|                                            | Adjustment for gains included in net income, net | -                                             | -                                | (861)                       
|                                            |                                                  | Total other comprehensive income              | (122,246)                        | 399,378                     
|**COMPREHENSIVE INCOME**                    | $  413,314                                       | $  780,821                                    | $1,048,180                       | $1,447,112                  
|                                            |                                                  |                                               |                                  |                             
|Basic earnings per common share             | $0.45                                            | $0.31                                         | $0.86                            | $0.68                       
|Diluted earnings per common share           | $0.45                                            | $0.31                                         | $0.85                            | $0.68                       
|Dividends per common share                  | $0.125                                           | $0.125                                        | $0.25                            | $0.25                       

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|                                                 |                                                                       |                                                              |                                           | Six-months ended

December 31,
|------------------------------------------------ | --------------------------------------------------------------------- | ------------------------------------------------------------ | ----------------------------------------- | ------------------------------
|                                                 |                                                                       |                                                              |                                           | 2001                          
|Cash Flows From Operating Activities:            |                                                                       |                                                             
|Net income                                       | $1,032,047                                                            | $   832,450                                                 
|                                                 | Items not requiring (providing) cash:                                 |                                                              |                                          
|                                                 |                                                                       | Depreciation and amortization                                | 291,369                                   | 199,208                       
|                                                 |                                                                       | MRP expense and ESOP expense                                 | 62,669                                    | 64,680                        
|                                                 |                                                                       | Gain on sale of mortgage-backed                              |                                           |                               
|                                                 |                                                                       |                                                              | securities, available for sale            | (1,366)                       
|                                                 |                                                                       | Amortization of goodwill                                     | 127,629                                   | 85,086                        
|                                                 |                                                                       | Provision for loan losses                                    | 170,000                                   | 230,000                       
|                                                 |                                                                       | Provision for abandonment of premises and equipment          | -                                         | 125,338                       
|                                                 |                                                                       | Gain on sale of branches                                     | -                                         | (633,538)                     
|                                                 |                                                                       | Net amortization of deferred income, premiums, and discounts | 152,711                                   | 18,022                        
|                                                 | Changes in:                                                           |                                                              |                                          
|                                                 |                                                                       | Accrued interest receivable                                  | 148,312                                   | (103,963)                     
|                                                 |                                                                       | Prepaid expenses and other assets                            | (35,959)                                  | 71,262                        
|                                                 |                                                                       | Accounts payable and other liabilities                       | (364,745)                                 | (141,992)                     
|                                                 |                                                                       | Accrued interest payable                                     | (432,894)                                 | 394,613                       
|Net cash provided by operating activities        | 1,149,773                                                             | 1,141,166                                                   
|                                                 |                                                                       |                                                              |                                           |                               
|Cash flows from investing activities:            |                                                                       |                                                             
|                                                 | Net increase in loans                                                 | (14,362,010)                                                 | (14,034,620)                             
|                                                 | Net cash received in acquisition of branches                          | -                                                            | 14,021,579                               
|                                                 | Net cash paid in sale of branches                                     | -                                                            | (4,153,644)                              
|                                                 | Proceeds from sales of mortgage-backed securities, available-for-sale | 3,389,072                                                    | -                                        
|                                                 | Proceeds from maturing mortgage-backed securities, available-for-sale | 4,904,259                                                    | 599,215                                  
|                                                 | Proceeds from maturing investment securities, available-for-sale      | 8,115,000                                                    | 1,350,000                                
|                                                 | Purchase of Federal Home Loan Bank stock                              | (50,000)                                                     | (300,000)                                
|                                                 | Purchase of investment securities, available-for-sale                 | (6,755,608)                                                  | -                                        
|                                                 | Purchase of mortgage-backed-securities, available-for-sale            | (10,570,650)                                                 | -                                        
|                                                 | Purchase of premises and equipment                                    | (854,629)                                                    | (677,268)                                
|                                                 | Proceeds from sale of foreclosed real estate                          | 325,416                                                      | 257,813                                  
|                                                 |                                                                       |                                                              | Net cash used in investing activities     | (15,859,150)                  
|                                                 |                                                                       |                                                              |                                           |                               
|Cash flows from financing activities:            |                                                                       |                                                             
|                                                 | Net decrease in certificates of deposit                               | (4,544,235)                                                  | (4,075,087)                              
|                                                 | Net increase in demand, NOW and savings accounts                      | 12,667,556                                                   | 1,172,137                                
|                                                 | Net increase in securities sold under agreements to repurchase        | 170,249                                                      | 3,742,146                                
|                                                 | Net decrease in advances from borrowers for taxes and insurance       | (186,807)                                                    | (133,130)                                
|                                                 | Proceeds from Federal Home Loan Bank advances                         | 7,000,000                                                    | 68,000,000                               
|                                                 | Repayments of Federal Home Loan Bank advances                         | -                                                            | (65,500,000)                             
|                                                 | Cash dividends paid                                                   | (299,202)                                                    | (314,357)                                
|                                                 | Exercise of stock options                                             | 65,625                                                       | 78,540                                   
|                                                 | Purchase of treasury stock                                            | (1,062,615)                                                  | (10,646)                                 
|                                                 |                                                                       |                                                              | Net cash provided by financing activities | 13,810,571                    
|                                                 |                                                                       |                                                              |                                           |                               
|(Decrease) increase in cash and cash equivalents | (898,806)                                                             | 1,163,844                                                   
|                                                 |                                                                       |                                                              |                                           |                               
|Cash and cash equivalents at beginning of period | 10,710,122                                                            | 4,470,373                                                   
|                                                 |                                                                       |                                                              |                                           |                               
|Cash and cash equivalents at end of period       | $ 9,811,316                                                           | $ 5,634,217                                                 

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|                                                               | Six-months ended

December 31,
|-------------------------------------------------------------- | ------------------------------
|                                                               | 2001                          
|Supplemental disclosures of                                    |                               
|                                                               | Cash flow information:        
|                                                               |                               
|Noncash investing and financing activities:                    |                               
|Conversion of loans to foreclosed real estate and other assets | $82,507                       
|Conversion of foreclosed real estate to loans                  | 57,600                        
|                                                               |                               
|Cash paid during the period for:                               |                               
|Interest (net of interest credited)                            | 2,091,121                     
|Income taxes                                                   | 477,000                       

|Fair value of assets acquired, excluding cash and cash equivalents acquired | $27,249,092 
|--------------------------------------------------------------------------- | ------------
|Liabilities assumed                                                         | (45,109,896)
|Goodwill                                                                    | 3,839,225   
|Net cash received in acquisition of branches                                | 14,021,579  

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|                                  | Three Months Ended

December 31, | Six Months EndedDecember 31,
|--------------------------------- | -------------------------------- | ----------------------------
|                                  | 2001                             | 2000                        
|                                  |                                  |                             
|Net income                        | $  535,560                       | $  381,443                  
|Weighted-average shares -         |                                  |                             
|                                  | Basic earnings per share         | 1,180,786                   
|Stock options under treasury      |                                  |                             
|                                  | Stock method                     | 20,394                      
|Weighted-average shares -         |                                  |                             
|                                  | Diluted earnings per share       | 1,201,180                   
|Basic earnings per common share   | $ 0.45                           | $ 0.31                      
|Diluted earnings per common share | $ 0.45                           | $ 0.31                      

---

> the strength of the United States economy in general and the strength of the local economies in which we conduct
> operations;
> 
> the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Federal
> Reserve Board;
> 
> inflation, interest rate, market and monetary fluctuations;
> 
> the timely development of and acceptance of our new products and services and the perceived overall value of these
> products and services by users, including the features, pricing and quality compared to competitors' products and
> services;
> 
> the willingness of users to substitute our products and services for products and services of our competitors;
> 
> the impact of changes in financial services' laws and regulations (including laws concerning taxes, banking, securities
> and insurance);
> 
> the impact of technological changes;
> 
> acquisitions;
> 
> changes in consumer spending and saving habits; and
> 
> our success at managing the risks involved in the foregoing.

---

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|                                            |                                                | 2001        | 2000     
|------------------------------------------- | ---------------------------------------------- | ----------- | ---------
|Balance, beginning of period                | $ 1,461,684                                    | $ 1,276,953
|Loans charged off:                          |                                                |            
|                                            | Residential real estate                        | (20,541)    | (6,894)  
|                                            | Commercial real estate                         | (11,966)    | (48,273) 
|                                            | Commercial                                     | (95,306)    | (191,247)
|                                            | Consumer                                       | (85,638)    | (114,699)
|                                            | Gross charged off loans                        | (213,451)   | (361,113)
|Recoveries of loans previously charged off: |                                                |            
|                                            | Residential real estate                        | 437         | 200      
|                                            | Commercial real estate                         | -           | 1,039    
|                                            | Consumer                                       | 22,068      | 23,592   
|                                            | Gross recoveries of charged off loans          | 22,505      | 24,831   
|Net charge offs                             | (190,946)                                      | (336,282)  
|Allowances of acquired loans                | -                                              | 250,000    
|Provision charged to expense                | 170,000                                        | 230,000    
|Balance, end of period                      | $ 1,440,738                                    | $ 1,420,671
|                                            |                                                |             |          
|Ratio of net charge offs during the period  |                                                |            
|                                            | to average loans outstanding during the period | .10%        | .14%     

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|Loans past maturity/delinquent 90 days or more    | 12/31/01                   | 6/30/01      | 12/31/00    
|------------------------------------------------- | -------------------------- | ------------ | ------------
|                                                  | Residential real estate    | $    108,000 | $     51,000
|                                                  | Commercial real estate     | 33,000       | 336,000     
|                                                  | Commercial                 | 23,000       | 50,000      
|                                                  | Consumer                   | 50,000       | 53,000      
|Total loans past maturity/delinquent 90+ days     | 214,000                    | 490,000      | 978,000     
|Foreclosed real estate or other real estate owned | 731,000                    | 1,162,000    | 723,000     
|                                                  | Total nonperforming assets | $    945,000 | $1,652,000  
|                                                  |                            |              |             
|Percentage nonperforming assets to total assets   | 0.37%                      | 0.69%        | 0.76%       
|Percentage nonperforming loans to net loans       | 0.11%                      | 0.27%        | 0.58%       

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|Item 1 - | Legal Proceedings                                                                                                                                                                                                                                                                                                   
|-------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|         | The Company and the Bank are not involved in any pending legal proceedings other than legal proceedings incident
to the business of the Company and the Bank, which involve aggregate amounts management believes to be
immaterial to the financial condition and results of operations of the Company and the Bank.
|        
|Item 2 - | Changes in Securities and Use of Proceeds                                                                                                                                                                                                                                                                           
|         | None                                                                                                                                                                                                                                                                                                                
|        
|Item 3 - | Defaults upon Senior Securities                                                                                                                                                                                                                                                                                     
|         | Not applicable                                                                                                                                                                                                                                                                                                      
|        
|Item 4 - | Submission of Matters to a Vote of Security-Holders                                                                                                                                                                                                                                                                 
|         | None                                                                                                                                                                                                                                                                                                                
|        
|Item 5 - | Other Information                                                                                                                                                                                                                                                                                                   
|         | None                                                                                                                                                                                                                                                                                                                
|        
|Item 6 - | Exhibits and Reports on Form 8-K                                                                                                                                                                                                                                                                                    
|        
|         | (a)                                                                                                                                                                                                                                                                                                                 
|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
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|         |                                                                                                                                                                                                                                                                                                                     
|****     |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
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|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     
|         |                                                                                                                                                                                                                                                                                                                     

|++   | Filed as an exhibit to the Registrant's Annual Report on Form 10-KSB for the year ended June 30, 1999 
|---- | ------------------------------------------------------------------------------------------------------
|*    | Filed as an exhibit to the registrant's Registration Statement on Form S-1 (33-73746).                
|**   | Filed as an exhibit to the registrant's 1994 annual meeting proxy statement dated October 21, 1994.   
|***  | Filed as an exhibit to the registrant's Annual Report on Form 10-KSB for the year ended June 30, 1995.
|**** | Filed as an exhibit to the registrant's Report on Form 10-QSB for the quarter ended December 31, 2000.

| | (b) | Reports on Form 8-K:
| | --- | --------------------
| |     | None                

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|                          |  | SOUTHERN MISSOURI BANCORP, INC.Registrant                   
|------------------------- |  | ------------------------------------------------------------
|                         
|                         
|Date:   February 13, 2002 |  | /s/ Thadis R. Seifert
Thadis R. SeifertChairman of the Board
|                         
|Date:   February 13, 2002 |  | /s/ Greg A. Steffens
Greg A. SteffensPresident              

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