Great Southern Bancorp Inc
NASDAQ:GSBC
Great Southern Bancorp Inc
Great Southern Bancorp, Inc. is a bank holding company, which engages in the provision of financial services. The company is headquartered in Springfield, Missouri and currently employs 1,105 full-time employees. The firm primarily consists of the operations of Great Southern Bank (the Bank), which provides a range of banking services to customers. The firm also opened commercial loan production offices in Atlanta, Chicago, Dallas, Denver, Omaha, Nebraska, Phoenix and Tulsa, Oklahoma, and a mortgage lending office in Springfield, Missouri. The Bank offers regular savings accounts, checking accounts, various money market accounts, fixed-interest rate certificates with varying maturities, certificates of deposit, brokered certificates and individual retirement accounts. Its primary products offered are commercial real estate, commercial business and commercial construction loans. The firm operates approximately 93 full-service retail banking offices, serving over 137,000 households in approximately six states Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska.
Great Southern Bancorp, Inc. is a bank holding company, which engages in the provision of financial services. The company is headquartered in Springfield, Missouri and currently employs 1,105 full-time employees. The firm primarily consists of the operations of Great Southern Bank (the Bank), which provides a range of banking services to customers. The firm also opened commercial loan production offices in Atlanta, Chicago, Dallas, Denver, Omaha, Nebraska, Phoenix and Tulsa, Oklahoma, and a mortgage lending office in Springfield, Missouri. The Bank offers regular savings accounts, checking accounts, various money market accounts, fixed-interest rate certificates with varying maturities, certificates of deposit, brokered certificates and individual retirement accounts. Its primary products offered are commercial real estate, commercial business and commercial construction loans. The firm operates approximately 93 full-service retail banking offices, serving over 137,000 households in approximately six states Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska.
Net Income Growth: Quarterly net income rose to $16.3 million ($1.45 per share), up from $14.9 million ($1.27 per share) last year.
Full-Year Strength: Full-year net income reached $71 million ($6.19 per share), up from $61.8 million ($5.26 per share) in 2024.
Margin Expansion: Net interest margin grew to 3.70% from 3.49% last year, despite the loss of income from a terminated swap.
Loan and Deposit Declines: Net loans decreased 7.1% year-over-year due to elevated payoffs, and deposits were down 2.7%, mainly from brokered deposits.
Expense Control: Noninterest expense fell 2.6% year-over-year, helped by the absence of one-time legal costs.
Asset Quality: Asset quality remained strong, with nonperforming assets at 0.15% of total assets and net recoveries for the quarter.
Buybacks and Capital: The company was active in share repurchases and ended the year with strong capital and liquidity.
Outlook: Management expects loan growth to remain challenging and expenses to tick up due to salary resets, but sees continued strength in credit quality and capital.
