$GSBC

GREAT SOUTHERN BANCORP INC

CIK:0000854560|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Loans	$ 65,686	$ 73,830	$ 130,346	$ 146,901
Investment securities and other	6,775	7,145	13,280	14,317
TOTAL INTEREST INCOME	72,461	80,975	143,626	161,218
INTEREST EXPENSE
Deposits	17,861	24,368	36,198	48,968
Securities sold under reverse repurchase agreements	133	372	229	743
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities	4,620	3,974	8,682	8,424
Subordinated debentures issued to capital trust	354	389	696	771
Subordinated notes		909		2,015
TOTAL INTEREST EXPENSE	22,968	30,012	45,805	60,921
NET INTEREST INCOME	49,493	50,963	97,821	100,297
PROVISION (CREDIT) FOR LOSSES ON UNFUNDED COMMITMENTS	8	(110)	(923)	(458)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES ON LOANS AND PROVISION (CREDIT) FOR LOSSES ON UNFUNDED COMMITMENTS	49,485	51,073	98,744	100,755
NON-INTEREST INCOME
Commissions	641	411	1,256	673
Overdraft and insufficient funds fees	1,248	1,266	2,479	2,481
Point-Of-Sale and ATM fee income and service charges	3,392	3,444	6,493	6,678
Net gains on loan sales	795	893	1,514	1,494
Late charges and fees on loans	305	340	441	583
Gain (Loss) on derivative interest rate products	5	(28)	3	(52)
Other income	989	1,886	2,218	2,945
TOTAL NON-INTEREST INCOME	7,375	8,212	14,404	14,802
NON-INTEREST EXPENSE
Salaries and employee benefits	20,691	20,005	40,762	40,134
Net occupancy and equipment expense	10,683	8,435	19,547	16,968
Postage	889	825	1,814	1,756
Insurance	1,099	1,095	2,171	2,260
Advertising	836	705	1,208	995
Office supplies and printing	197	238	419	504
Telephone	705	705	1,390	1,411
Legal, audit and other professional fees	967	929	1,657	1,967
Expense (income) on other real estate and repossessions, net	(85)	(168)	(31)	(238)
Intangible asset amortization	108	108	216	216
Other operating expenses	2,132	2,128	3,861	3,854
TOTAL NON-INTEREST EXPENSE	38,222	35,005	73,014	69,827
INCOME BEFORE INCOME TAXES	18,638	24,280	40,134	45,730
PROVISION FOR INCOME TAXES	2,843	4,494	6,863	8,784
NET INCOME	$ 15,795	$ 19,786	$ 33,271	$ 36,946
Earnings Per Common Share
Basic Earnings Per Common Share (in dollars per share)	$ 1.45	$ 1.73	$ 3.04	$ 3.2
Diluted Earnings Per Common Share (in dollars per share)	1.43	1.72	2.99	3.18
Dividends Declared Per Common Share (in dollars per share)	$ 0.43	$ 0.4	$ 0.86	$ 0.8

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 33,271	$ 36,946
Proceeds from sales of loans held for sale	70,114	70,978
Originations of loans held for sale	(68,968)	(67,720)
Items not requiring (providing) cash:
Depreciation	4,344	3,950
Amortization	224	267
Compensation expense for stock option grants	988	912
Provision (credit) for unfunded commitments	(923)	(458)
Net gain on loan sales	(1,514)	(1,494)
Net gain on sale of premises and equipment	(37)	(29)
Impairment on premises and equipment	1,389
Net (gain) loss on sale/write-down of other real estate owned and repossessions	(57)	5
Accretion of deferred income, premiums, discounts and other	(2,604)	(7,478)
Loss (gain) on derivative interest rate products	(3)	52
Deferred income taxes	(2,672)	(277)
Changes in:
Interest receivable	(399)	(214)
Prepaid expenses and other assets	4,363	1,142
Accrued expenses and other liabilities	(12,603)	18,021
Income taxes refundable/payable	2,413	(295)
Net cash provided by operating activities	27,326	54,308
CASH FLOWS FROM INVESTING ACTIVITIES
Net change in loans	47,353	157,762
Purchase of premises and equipment	(4,734)	(6,329)
Proceeds from sale of premises and equipment	105	33
Proceeds from sale of other real estate owned and repossessions	789	37
Capitalized costs on real estate owned	(582)
Proceeds from maturities and calls of available-for-sale securities	18	1,617
Principal reductions on mortgage-backed securities	21,555	28,100
Purchase of available-for-sale securities		(5,951)
Investment in tax credit partnerships	(596)	(9,003)
Redemption (purchase) of Federal Home Loan Bank stock and change in other interest-earning assets	(7,335)	4,678
Net cash provided by investing activities	56,573	170,944
CASH FLOWS FROM FINANCING ACTIVITIES
Net decrease in certificates of deposit	(36,934)	(18,141)
Net increase (decrease) in checking and savings deposits	(55,983)	35,459
Net increase (decrease) in brokered deposits	(87,790)	61,259
Net increase in short-term borrowings	106,078	26,018
Repayment of borrowing under Federal Reserve Bank Term Funding Program		(180,000)
Redemption of subordinated notes		(75,000)
Advances from borrowers for taxes and insurance	4,502	3,550
Repurchases of the Company's common stock	(24,771)	(20,007)
Dividends paid	(9,441)	(9,318)
Stock options exercised	10,867	1,085
Net cash used in financing activities	(93,472)	(175,095)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(9,573)	50,157
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	189,554	195,756
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 179,981	$ 245,913

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash	$ 97,200	$ 109,833
Interest-bearing deposits in other financial institutions	82,781	79,721
Cash and cash equivalents	179,981	189,554
Available-for-sale securities	503,795	523,831
Held-to-maturity securities	175,264	179,200
Mortgage loans held for sale	7,868	6,838
Loans receivable, net of allowance for credit losses of $63,965 - June 2026; $64,771 - December 2025	4,307,712	4,356,853
Interest receivable	18,467	18,068
Prepaid expenses and other assets	123,005	128,615
Other real estate owned and repossessions, net	8,360	6,036
Premises and equipment, net	132,838	133,257
Goodwill and other intangible assets	9,444	9,660
Federal Home Loan Bank stock and other interest-earning assets	27,414	20,079
Current and deferred income taxes	28,676	26,615
Total Assets	5,522,824	5,598,606
Liabilities:
Deposits	4,302,067	4,482,774
Securities sold under reverse repurchase agreements with customers	39,913	48,467
Short-term borrowings and other interest-bearing liabilities	445,560	330,928
Subordinated debentures issued to capital trust	25,774	25,774
Accrued interest payable	3,080	3,612
Advances from borrowers for taxes and insurance	10,283	5,781
Accounts payable and accrued expenses	46,925	56,596
Liability for unfunded commitments	7,625	8,548
Total Liabilities	4,881,227	4,962,480
Stockholders' Equity:
Preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding June 2026 and December 2025 - - 0 - shares
Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding June 2026 - 10,884,444 shares; December 2025 - 11,062,252 shares	83	111
Additional paid-in capital	59,278	54,120
Retained earnings	619,960	614,095
Accumulated other comprehensive loss	(37,724)	(32,200)
Total Stockholders' Equity	641,597	636,126
Total Liabilities and Stockholders' Equity	$ 5,522,824	$ 5,598,606