Southern Missouri Bancorp taps new bank CEO

Southern Missouri Bancorp in Poplar Bluff has promoted its chief financial officer to serve as president and CEO of its bank. 

The $3.2 billion-asset Southern Missouri said in a press release Friday that Matthew Funke had also been named the company’s president and chief administrative officer, effective July 1. He is expected to join the company’s board. 

Funke has been the bank’s CFO since 2006 and an executive officer of the company since in 2010. He joined the bank in 2003 to establish an internal audit function and to handle other risk management duties.

The company also said that CEO Greg Steffens will succeed L. Douglas Bagby as chairman on July 1. Steffens has been CEO since 1999. Bagby will remain on the board as vice chairman and lead outside director. 

Steffens will also succeed Sammy Schalk as the bank’s chairman. Schalk will become the bank’s vice chairman. 

Lora Daves will replace Funke as CFO. She is the company’s chief risk officer, a role she has held since 2017. She was the bank’s chief credit officer from 2006 to 2016, and was named an executive officer of the company in 2010. 

“In effect, this transition only more fully recognizes the leadership role that Greg already serves for our company,” Bagby said in the release. 

"We recognize that he has truly been key to the company’s excellent regulatory track record, our outstanding financial performance, the expansion of our business development lines, our successful merger and acquisition strategies, and the development of a strong team," Bagby added.