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Core Insights - Great Southern Bancorp reported higher earnings for both the fourth quarter and full year of 2025, driven by stable core operations, strong credit quality, and capital deployment strategies including share repurchases [4][3] Financial Performance - Net interest income for Q4 2025 was $49.2 million, a decrease of $371,000 from the prior year and down from $50.8 million in Q3 2025, primarily due to the termination of an interest rate swap that previously contributed approximately $2 million in income [2][4] - Full year net income for 2025 reached $71.0 million, or $6.19 per diluted share, compared to $61.8 million, or $5.26 per diluted share, in 2024 [3] - Q4 net income was $16.3 million, or $1.45 per diluted share, an increase from $14.9 million, or $1.27 per diluted share, in the same quarter of the previous year [3][7] Interest Income and Expenses - Interest income fell to $73.4 million from $82.6 million a year earlier, attributed to the impact of swaps, lower average loan balances, and reduced market interest rates [1] - Interest expense totaled $24.3 million, with management noting a decline in funding costs as deposit and borrowing costs moderated [1] Asset and Loan Quality - Total assets decreased to $5.60 billion and total loans declined to $4.36 billion, influenced by elevated payoff activity, particularly in multifamily and construction loans [6][9] - Non-performing assets were reported at 0.15% of total assets, with no loan-loss provision required for 2025 [5][13] Capital Management - The company repurchased 241,000 shares in Q4 at an average price of $59.33, totaling 755,000 shares for the full year at an average price of $58.35 [18][19] - Total stockholders' equity increased to $636.1 million at year-end, up from $599.6 million in 2024, with a book value per share of $57.50 [17] Dividend and Shareholder Returns - A quarterly cash dividend of $0.43 per share was declared for Q4, with total regular dividends for 2025 amounting to $1.66 per share [18] Outlook and Challenges - Management indicated that loan growth in 2026 is expected to be challenging, primarily due to difficulties in forecasting payoffs and borrower decisions [11][12]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net income of $16.3 million or $1.45 per diluted common share, an increase from $14.9 million or $1.27 per diluted common share in Q4 2024 [3][10] - Full-year net income for 2025 totaled $71 million or $6.19 per diluted common share, up from $61.8 million or $5.26 per diluted common share in 2024 [10][18] - Net interest income for Q4 2025 was $49.2 million, a slight decrease of $371,000 or 0.7% compared to Q4 2024 [4][11] - Non-interest income increased to $7.2 million in Q4 2025 from $6.9 million in Q4 2024 [13][14] - Non-interest expense decreased to $36 million in Q4 2025, down 2.6% from $36.9 million in Q4 2024 [8][14] Business Line Data and Key Metrics Changes - Net loans receivable at year-end totaled $4.336 billion, a decline of $333.5 million or 7.1% from the previous year, primarily due to elevated payoff activity [5][16] - Total deposits decreased by $122.8 million or 2.7% to $4.48 billion at year-end 2025, driven by a decline in brokered deposits [6][17] - Core deposits remained stable, with a notable increase in interest-bearing checking accounts by $75 million [7][17] Market Data and Key Metrics Changes - Non-performing assets represented 0.15% of total assets at year-end, consistent with both the linked quarter and prior year quarter [7][17] - The company maintained strong liquidity with cash and cash equivalents totaling $189.6 million and access to approximately $1.63 billion in additional borrowing capacity [16][18] Company Strategy and Development Direction - The company remains focused on preserving net interest margins, protecting credit quality, controlling non-interest expenses, and opportunistically repurchasing stock [3][9] - The management emphasized a conservative underwriting posture and maintaining strong capital and liquidity levels to navigate economic challenges [9][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in loan growth due to elevated payoffs but expressed confidence in the strength of their loan portfolio and ongoing efforts to originate new loans [30][39] - The company does not expect significant changes in net interest margins in the near term, with a slight bias towards potential increases depending on market conditions [28][29] Other Important Information - Stockholders' equity increased to $636.1 million at year-end 2025, representing 11.4% of total assets, with a book value per common share of $57.50 [18][19] - The board declared a regular quarterly cash dividend of $0.43 per common share, consistent with the previous quarter [20] Q&A Session Summary Question: Margin outlook for 2026 - Management noted that they performed better than expected in Q4 2025, managing funding costs effectively, but did not anticipate significant margin increases moving forward [24][25][28] Question: Loan growth expectations - Management indicated that loan growth would remain challenging due to ongoing payoffs, but they are actively generating new loans [30][32][39] Question: Expense expectations for 2026 - Management acknowledged that expenses may increase due to annual salary adjustments and payroll tax resets [33]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net income of $16.3 million or $1.45 per diluted common share, an increase from $14.9 million or $1.27 per diluted common share in Q4 2024 [3][10] - Full-year net income for 2025 totaled $71 million or $6.19 per diluted common share, up from $61.8 million or $5.26 per diluted common share in 2024 [10][18] - Net interest income for Q4 2025 was $49.2 million, a slight decrease of $371,000 or 0.7% compared to the prior year quarter [4][11] - The efficiency ratio improved to 63.89% in Q4 2025 from 65.43% in Q4 2024 [15] Business Line Data and Key Metrics Changes - Net loans receivable decreased to $4.336 billion at year-end, down $333.5 million or 7.1% from the previous year, with declines in multifamily residential, commercial construction, and commercial business loans [5][16] - Total deposits decreased by $122.8 million or 2.7% to $4.48 billion, primarily due to a decline in brokered deposits [16][17] - Non-interest income increased to $7.2 million in Q4 2025 from $6.9 million in Q4 2024, driven by higher late charges and fees [12][13] Market Data and Key Metrics Changes - Non-performing assets represented 0.15% of total assets at year-end, consistent with both the linked quarter and prior year quarter [7][17] - The company maintained strong liquidity with cash and cash equivalents totaling $189.6 million and access to approximately $1.63 billion of additional borrowing capacity [16] Company Strategy and Development Direction - The company remains focused on preserving net interest margins, protecting credit quality, controlling non-interest expenses, and opportunistically repurchasing stock [3][9] - Management emphasized a conservative underwriting posture and a focus on pricing, structure, and borrower stream to navigate economic pressures [5][9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that loan growth may remain challenging due to elevated payoffs and competitive market conditions, but expressed confidence in the company's conservative approach and sound balance sheet management [9][30] - The company did not record a provision for credit losses on outstanding loans in 2025, reflecting stable borrower performance [18] Other Important Information - Stockholders' equity increased to $636.1 million at year-end 2025, representing 11.4% of total assets, with a book value per common share of $57.50 [18][19] - The board declared a regular quarterly cash dividend of $0.43 per common share, consistent with the previous quarter [20] Q&A Session Summary Question: Regarding the margin and its outlook for 2026 - Management noted that they performed better than expected in Q4 2025, managing funding costs proactively and seeing some loans redeployed at higher rates [25][26] Question: Expectations for loan growth and payoffs - Management indicated that loan growth would remain challenging, with good activity but elevated payoffs continuing to impact net growth [30][31] Question: Future expenses and potential increases - Management acknowledged that there would likely be an uptick in expenses due to annual increases in salaries and benefits [35]

Loan Portfolio Presentation January 2026 Great Southern Bancorp. Inc (NASDAQ: GSBC) Fourth Quarter Ended December 31, 2025 Loan Portfolio by Category Gross Loans [in thousands] Consumer* $174,448 4% Single Family Real Estate $788,835 18% Multi-family Real Estate $1,387,410 31% Commercial Real Estate $1,556,148 35% Const & Land Dev $349,161 8% Commercial Business $178,514 4% *Includes Home Equity Loans of $128,030 12-31-25 $4,434,516 9-30-25 $4,543,707 Consumer* $171,519 4% Single Family Real Estate $802,384 ...

Financial Performance - Preliminary earnings for Q4 2025 were $1.45 per diluted common share, up from $1.27 in Q4 2024, with net income increasing to $16.3 million from $14.9 million[2]. - Full-year 2025 net income reached $71.0 million, or $6.19 per diluted common share, compared to $61.8 million, or $5.26 per diluted common share, in 2024[2]. - Net income for the year ended December 31, 2025, was $70,973 thousand, an increase of 14.0% compared to $61,807 thousand in 2024[47]. - Earnings per common share for the year ended December 31, 2025, rose to $6.23, up from $5.28 in 2024, marking an increase of about 18.0%[53]. Asset and Loan Management - Total assets decreased to $5,598,606 thousand as of December 31, 2025, from $5,981,628 thousand in 2024, representing a decline of approximately 6.4%[47]. - Total net loans decreased by $333.5 million (7.1%) from $4.69 billion at December 31, 2024, to $4.36 billion at December 31, 2025[4]. - Loans receivable, net of allowance for credit losses, stood at $4,356,853 thousand as of December 31, 2025, compared to $4,690,393 thousand in December 2024, a decrease of about 7.1%[50]. - Total loans receivable decreased to $4,452,057 thousand with an average yield of 5.90% for the three months ended December 31, 2025, compared to $4,785,690 thousand and 5.93% for the same period in 2024[56]. Non-Performing Assets - Non-performing assets decreased to $8.1 million (0.15% of total assets) at December 31, 2025, down from $9.6 million (0.16% of total assets) at December 31, 2024[4]. - Non-performing assets decreased to $8,130 thousand in 2025 from $9,566 thousand in 2024, indicating a reduction of approximately 15.0%[47]. - Non-performing loans increased by $366,000 compared to September 30, 2025, totaling $2.094 million at December 31, 2025[28]. - Potential problem loans decreased by $8,000 to $1.390 million at December 31, 2025[31]. Income and Expenses - Net interest income for Q4 2025 decreased by $371,000 (0.7%) to $49.2 million, primarily due to the end of income recognition from a previously-terminated interest rate swap[4]. - Non-interest income increased to $29,052 thousand for the year ended December 31, 2025, compared to $30,565 thousand in 2024, reflecting a decrease of approximately 4.9%[47]. - Non-interest expense for Q4 2025 was approximately $36.0 million, consistent with the prior-year quarter and the third quarter of 2025[5]. - Non-interest expense decreased by $947,000 to $36.0 million, with an efficiency ratio of 63.89%, down from 65.43% in the same quarter of 2024[13]. Equity and Dividends - Total stockholders' equity increased by $36.6 million to $636.1 million, with a book value of $57.50 per common share, compared to $51.14 per share at December 31, 2024[15]. - Total stockholders' equity increased to $636,126 thousand as of December 31, 2025, from $599,568 thousand in December 2024, reflecting an increase of approximately 6.1%[50]. - Dividends declared per common share increased to $0.43 for the three months ended December 31, 2025, up from $0.40 in the same period of 2024, representing a growth of 7.5%[53]. Future Outlook and Strategic Initiatives - The Company opened a new banking center in Springfield, Mo., on October 20, 2025, designed as a next-generation facility[37]. - The Company plans to transition its Cottleville banking center to a drive-thru Express Center in Spring 2026, marking its first in the St. Louis market[38]. - The Company will consolidate its Edina, Minn., banking center operations with another location by the end of January 2026[39]. - The Company will host a conference call on January 22, 2026, to discuss fourth quarter 2025 preliminary earnings[40].

Core Insights - Great Southern Bancorp reported a strong financial performance for the fourth quarter and full year of 2025, with net income of $16.3 million or $1.45 per diluted common share, compared to $14.9 million or $1.27 per diluted common share in the same period of 2024 [1][6]. - For the full year 2025, net income reached $71.0 million or $6.19 per diluted common share, an increase from $61.8 million or $5.26 per diluted common share in 2024 [1][6]. Financial Performance - The annualized return on average common equity for Q4 2025 was 10.16%, up from 9.76% in Q4 2024, while the annualized return on average assets increased to 1.16% from 1.00% [2]. - The annualized net interest margin improved to 3.70% in Q4 2025, compared to 3.49% in Q4 2024 [2][5]. Selected Financial Data - Net interest income for Q4 2025 was $49.2 million, a slight decrease of $371,000 or approximately 0.7% from $49.5 million in Q4 2024 [4][5]. - Non-interest income increased to $7.2 million in Q4 2025, up by $254,000 from the previous year, primarily due to a significant rise in late charges and fees on loans [14]. Expense Management - Non-interest expense for Q4 2025 was $36.0 million, a decrease of $947,000 from Q4 2024, reflecting effective cost control measures [15]. - The efficiency ratio improved to 63.89% in Q4 2025 from 65.43% in Q4 2024 [15]. Asset Quality - Non-performing assets decreased to $8.1 million at year-end 2025, representing 0.15% of total assets, down from $9.6 million or 0.16% at year-end 2024 [33]. - The allowance for credit losses as a percentage of total loans was 1.46% at December 31, 2025, compared to 1.36% at December 31, 2024 [32]. Capital Position - Total stockholders' equity increased to $636.1 million at December 31, 2025, with a book value of $57.50 per common share, up from $51.14 per common share at the end of 2024 [19]. - The tangible common equity ratio was 11.2% at year-end 2025, significantly exceeding regulatory capital requirements [19]. Liquidity and Deposits - The Company had secured borrowing line availability of $1.32 billion from the Federal Home Loan Bank and $305.2 million from the Federal Reserve Bank as of December 31, 2025 [25]. - Total deposits decreased by $122.8 million during 2025, with a notable decline in brokered deposits by $108.7 million or 14.1% [26]. Loan Portfolio - Total net loans decreased by $333.5 million or 7.1% from $4.69 billion at December 31, 2024, to $4.36 billion at December 31, 2025, primarily due to reductions in various loan categories [28]. - The pipeline of unfunded loans remained strong, particularly in construction loans, with $605.5 million in unfunded commitments as of December 31, 2025 [29].

Core Viewpoint - Great Southern Bancorp, Inc. is set to report its preliminary earnings for the fourth quarter of 2025 on January 21, 2026, with a conference call scheduled for January 22, 2026 [1] Group 1: Earnings Report - The company will issue a news release to notify the public about the fourth quarter 2025 results [3] - The earnings release will also be available on the SEC's website as part of a Current Report on Form 8-K [3] Group 2: Conference Call Details - Participants can register for the conference call and are encouraged to join 10 minutes early [2] - The call will be accessible live and in a recorded format on the company's Investor Relations website [1][2] Group 3: Company Overview - Great Southern Bank, headquartered in Springfield, Missouri, provides a wide range of banking services [4] - The company operates 89 retail banking centers across several states including Missouri, Iowa, Kansas, Minnesota, Arkansas, and Nebraska [4] - Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol "GSBC" [4]

Goodwill and Intangible Assets - The Company reported goodwill of $5.4 million as of September 30, 2025, related to the acquisition of 12 branches in the St. Louis market[149]. - The Company has total amortizable intangible assets of $4.4 million for arena naming rights, which are fully amortized over a period not to exceed 15 years[150][151]. Economic Indicators - The Federal Reserve raised the federal funds interest rates to more than 5.50%, the highest level in 22 years, to combat inflation[158]. - The personal consumption expenditures (PCE) price index eased from a peak of 7.1% in June 2022 to 2.9% in December 2023[159]. - Real GDP in 2025 is projected to rise 1.8% on an annual average basis, an increase from prior forecasts of 1.1%[160]. - The federal government deficit was $2.8 trillion in fiscal 2021, close to $1.4 trillion in fiscal 2022, and $1.7 trillion in fiscal 2023[158]. - The national unemployment rate increased to 4.3% in August 2025, up from 4.1% in June 2025, with 7.4 million unemployed individuals[161]. Housing Market - Existing-home sales rose by 1.5% in September 2025 compared to August 2025, reaching an annual rate of 4.06 million, with a year-over-year increase of 4.1%[163]. - The median existing-home sales price increased by 2.1% year-over-year to $415,200 in September 2025, with the Midwest median price at $320,800, up 4.7%[164]. - Total housing inventory at the end of September 2025 was 1.55 million units, a 1.3% increase from August 2025 and a 14.0% increase from one year ago[165]. - New single-family housing starts in August 2025 were at a rate of 890,000, which is 7% below July 2025 and 11.7% below August 2024[166]. - Sales of new single-family houses in August 2025 were at a seasonally adjusted annual rate of 800,000, a 20.5% increase from July 2025[167]. Company Financials - Great Southern's total assets decreased by $243.8 million, or 4.1%, from $5.98 billion at December 31, 2024, to $5.74 billion at September 30, 2025[191]. - Net outstanding loans decreased by $222.7 million to $4.47 billion at September 30, 2025, primarily in construction and commercial real estate loans[191]. - Total deposit balances decreased by $77.5 million, or 1.7%, with transaction account balances increasing by $66.7 million, or 2.2%, to $3.12 billion[197]. - Available-for-sale securities decreased by $2.0 million, or 0.4%, to $531.3 million at September 30, 2025[195]. - Held-to-maturity securities decreased by $6.1 million, or 3.3%, to $181.3 million at September 30, 2025[196]. - Short-term borrowings and other interest-bearing liabilities decreased by $88.3 million to $425.9 million at September 30, 2025[201]. - Total liabilities decreased by $277.1 million to $5.10 billion, mainly due to the repayment of BTFP borrowings and subordinated notes[228]. - Total stockholders' equity increased by $33.3 million, or 5.6%, to $632.9 million, driven by net income of $54.7 million for the nine months ended September 30, 2025[234]. - Net income for the three months ended September 30, 2025, was $17.8 million, a 7.7% increase from $16.5 million in the same period of 2024, attributed to a $2.8 million increase in net interest income[235]. - Cash and cash equivalents were $196.2 million at September 30, 2025, reflecting a slight increase of $479,000, or 0.2%, from December 31, 2024[224]. Interest Income and Expense - Total interest income decreased by $4.7 million or 5.6% during the three months ended September 30, 2025, primarily due to a $4.4 million or 5.8% decrease in interest income on loans[237]. - Interest income on loans decreased by $2.9 million during the nine months ended September 30, 2025, attributed to a decrease in average interest rates from 6.31% to 6.23%[240]. - Total interest expense decreased by $7.5 million or 21.0% during the three months ended September 30, 2025, with interest expense on deposits decreasing by $4.5 million or 15.8%[249]. - Interest expense on demand and savings deposits decreased by $5.4 million during the nine months ended September 30, 2025, due to a decrease in average rates from 1.76% to 1.43%[253]. - Interest income on investments increased by $1.8 million in the nine months ended September 30, 2025, driven by higher average interest rates from 3.10% to 3.35%[246]. Credit Losses and Non-Performing Assets - The Company expects to maintain an allowance for credit losses sufficient to absorb estimated credit losses, calculated using an average historical loss model[145]. - The Company’s allowance for credit losses is measured on a collective basis, aggregating loans into pools based on similar risk characteristics[146]. - The allowance for credit losses as a percentage of total loans was 1.43% at September 30, 2025, compared to 1.36% at December 31, 2024[276]. - The Company did not record a provision expense for outstanding loans in Q3 2025, compared to $1.2 million in Q3 2024[275]. - Net charge-offs for Q3 2025 were $66,000, significantly lower than $1.5 million in Q3 2024[275]. - As of September 30, 2025, non-performing assets decreased by $1.8 million to $7.8 million, representing 0.14% of total assets compared to 0.16% at December 31, 2024[277]. - Non-performing loans decreased by $1.8 million to $1.7 million, while foreclosed assets increased by $90,000 to $6.1 million at September 30, 2025[278]. - Potential problem loans decreased by $5.7 million to $1.4 million at September 30, 2025, from $7.1 million at December 31, 2024[280]. Non-Interest Income and Expenses - Non-interest income for the three months ended September 30, 2025, increased by $70,000 to $7.1 million compared to the same period in 2024[286]. - Non-interest income for the nine months ended September 30, 2025, decreased by $1.8 million to $21.9 million, primarily due to a $1.7 million decrease in other income[287]. - Non-interest expense for the three months ended September 30, 2025, increased by $2.4 million to $36.1 million, primarily due to a $735,000 increase in net occupancy and equipment expenses[290]. - Salaries and employee benefits increased by $636,000, or 3.3%, from the prior-year period, mainly due to annual merit increases[291]. - Non-interest expense for the nine months ended September 30, 2025, increased by $1.4 million to $105.9 million, driven by a $2.0 million increase in net occupancy and equipment expenses, primarily due to computer license and support expenses[294]. Stockholder Equity and Dividends - The Company declared a common stock cash dividend of $0.43 per share for the three months ended September 30, 2025, which is 28% of net income per diluted common share for that period[326]. - The Company's common equity Tier 1 capital ratio was 13.3% as of September 30, 2025, indicating it was well capitalized[323]. - The Company reported a decrease in net interest income of $4.71 million for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to changes in rates and volumes[307]. Stock Repurchase Program - During the three months ended September 30, 2025, the Company repurchased 165,116 shares at an average price of $60.33 per share, compared to 2,971 shares repurchased at an average price of $53.04 per share in the same period of 2024[327]. - For the nine months ended September 30, 2025, the Company repurchased 514,458 shares at an average price of $57.89 per share, up from 239,933 shares at an average price of $51.69 per share in the same period of 2024[328]. - As of September 30, 2025, approximately 929,000 shares remained available under the new stock repurchase program authorized in April 2025, which allows for the purchase of up to one million additional shares[329].

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