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Great Southern Bancorp Inc. (NASDAQ: GSBC) is a prominent bank holding company headquartered in Springfield, Missouri. The company is the parent entity of Great Southern Bank, which serves its customers through 107 banking centers located across Missouri, Arkansas, Iowa, Kansas, Nebraska, and Minnesota. The bank is known for offering a wide array of financial services including residential and commercial real estate loans, construction loans, commercial business loans, and consumer loans.
Great Southern Bank provides a comprehensive range of services aimed at meeting the diverse financial needs of its customers. These services include Business Banking, Merchant Services, Debit and Credit Cards, Online and Mobile Banking, VIP Banking, and Overdraft Protection. The bank prides itself on financial strength and stability, the ability to devise creative solutions, and a commitment to ethical practices.
The company's success can be attributed to its dynamic and motivated team of associates who are provided with competitive benefits and numerous opportunities for career growth. Great Southern Bank's financial performance has been robust, as evidenced by the recent earnings reports. For the quarter ending June 30, 2023, the bank reported earnings of $1.52 per diluted common share with a net income of $18.3 million, an improvement from the previous year. The bank's annualized return on average common equity was 13.11%, and annualized return on average assets was 1.28% for the quarter.
Despite industry challenges such as higher deposit costs and competitive pressure, Great Southern Bank has managed to maintain strong liquidity and capital positions. The bank's borrowing capacity at the Federal Home Loan Bank increased significantly, ensuring ample liquidity through secured funding lines. As of June 30, 2023, stockholders' equity rose to $546.3 million, up from $533.1 million at the end of 2022.
Great Southern Bank continues to innovate and upgrade its services. In early 2023, the bank began preparations to convert to a new core banking platform to enhance customer service and operational efficiency. Additionally, the bank is developing new technological solutions like Interactive Teller Machines (ITMs) to provide customers with extended banking hours and improved service.
Latest News: In recent updates, Great Southern Bancorp reported preliminary earnings for the third quarter of 2023, showing solid performance amidst a challenging environment. The company also highlighted its continued focus on managing rising deposit costs and maintaining strong credit quality metrics.
With a strong focus on community banking and a firm commitment to financial excellence, Great Southern Bancorp remains a significant player in the regional banking sector.
Great Southern Bancorp reported preliminary financial results for Q1 2023, showing earnings of $20.5 million or $1.67 per diluted share, up from $17.0 million or $1.30 per share in Q1 2022. Net interest income rose 22.9% to $53.2 million, with a net interest margin of 3.99%. Despite recording $1.3 million in legal expenses for system upgrades, the company's capital ratios remain strong, with a Common Equity Tier 1 Capital Ratio of 10.9%. Total loans increased by 1.4% to $4.57 billion, while non-performing assets decreased to $3.0 million. Liquidity is robust, with over $1.8 billion available in secured funding lines. The company anticipates rising funding costs in future periods as fixed-rate time deposits mature.
Great Southern Bank announced the hiring of Rob Fulp as the regional managing director of commercial lending for the Springfield, southwest Missouri, and Arkansas markets. After a two-year retirement, Fulp brings over 40 years of banking experience, including a decade as president and CEO at Springfield First Community Bank. He emphasized his dedication to banking and community service, looking forward to contributing to a locally-focused institution. Great Southern Bank, with total assets of $5.7 billion, operates 91 retail banking centers and offers diverse services. Its common stock is listed on NASDAQ under the symbol GSBC.
Great Southern Bancorp (NASDAQ:GSBC) has declared a quarterly dividend of $0.40 per common share, payable on April 11, 2023, to shareholders on record as of March 27, 2023. This marks the 133rd consecutive quarterly dividend for the company. With total assets amounting to $5.7 billion, Great Southern provides a variety of banking services across six states and operates 92 retail banking centers. The press release emphasizes the company's ongoing commitment to returning value to its shareholders.
Great Southern Bancorp, Inc. (NASDAQ:GSBC) announced it will report its first quarter 2023 preliminary earnings on April 19, 2023, after market close, followed by a conference call on April 20, 2023, at 2:00 p.m. Central Time. The call can be accessed live or in a recorded format via the Company's Investor Relations website. With total assets of $5.7 billion, Great Southern provides a variety of banking services across six states and maintains 92 retail banking centers. The earnings release will be available on the SEC's website as part of a Current Report on Form 8-K.
Great Southern Bancorp, Inc. (NASDAQ:GSBC) will hold its 34th Annual Meeting of Stockholders virtually at 10 a.m. CDT on May 10, 2023. Stockholders can attend via a live webcast and vote either during the meeting or by proxy. The record date for voting is March 1, 2023. With total assets of $5.7 billion, Great Southern operates 92 retail banking centers across multiple states and offers a wide range of banking services. More information will be available on the Company's website prior to the meeting.
Great Southern Bancorp reported preliminary financial results for Q4 2022, with earnings of $22.6 million ($1.84 per diluted share), a significant increase from $15.3 million ($1.14 per diluted share) in Q4 2021. Net interest income rose by 23.5% to $54.6 million, benefiting from rising interest rates, while total loans increased by 12.5% to $4.51 billion. Asset quality improved, with non-performing assets dropping to $3.7 million, representing 0.07% of total assets. Despite strong financial performance, concerns exist for 2023 due to potential interest rate impacts and increased operating expenses.
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