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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Financial Data and Key Metrics Changes - The company reported net income of $17.8 million for Q3 2025, up from $16.5 million in Q3 2024, translating to $1.56 per diluted common share compared to $1.41 a year ago [3][8] - Net interest income increased to $50.8 million, a rise of $2.8 million or 5.8% from $48 million in the same period last year [4][9] - The annualized net interest margin improved to 3.72% from 3.42% a year ago, reflecting stable loan yields and effective funding cost control [4][10] - Non-interest expense rose to $36.1 million from $33.7 million in the prior year, primarily due to higher legal and professional fees and technology upgrades [6][12] Business Line Data and Key Metrics Changes - Gross loans totaled $4.54 billion, a decline of $223 million or 4.7% from December 31, 2023, mainly due to elevated commercial real estate and multifamily loan payoffs [4][15] - Construction lending showed solid momentum with total unfunded construction commitments steady at approximately $600 million [5][16] - Non-interest income totaled $7.1 million, slightly up from $7.0 million in Q3 2024, driven by improvements in commissions on annuity sales and fees on loans [11][12] Market Data and Key Metrics Changes - Total deposits decreased by $77.5 million or 1.7% compared to December 31, 2024, primarily due to a decrease in brokered deposits [16][17] - As of September 30, 2025, uninsured deposits totaled approximately $742 million, representing roughly 16% of total deposits [17] Company Strategy and Development Direction - The company emphasized disciplined cost control and operational efficiency while strategically investing in areas that enhance capabilities for sustained growth [15][19] - The Board of Directors approved a new stock repurchase authorization for up to 1 million additional shares, reflecting a commitment to returning value to shareholders [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that credit quality remains strong, with no significant signs of weakness across the portfolio, despite some idiosyncratic issues in specific projects [24][25] - The company is well-positioned to handle potential future rate cuts, with expectations that moderate cuts will not significantly impact margins [27][28] Other Important Information - The efficiency ratio was reported at 62.45%, up from 61.34% in the prior year, indicating a slight increase in operational costs relative to income [14] - The allowance for credit losses as a percentage of total loans stood at 1.43%, reflecting a slight increase from the previous quarter [18] Q&A Session Summary Question: Loan growth outlook and regional opportunities - Management highlighted opportunities across various regions, including Texas and Atlanta, while noting elevated payoffs [22][23] Question: Signs of weakness in the portfolio - Management stated that there are no broad signs of weakness, with any issues being specific to individual projects [24] Question: Outlook on operating expenses - Management indicated that some operating expenses are expected to stabilize, with potential decreases in legal and professional fees [35][36] Question: Commission income sustainability - Management acknowledged that commission income is at a higher level than historically but could fluctuate based on customer interest [37][38]

Financial Data and Key Metrics Changes - The company reported net income of $17,800,000 for Q3 2025, an increase from $16,500,000 in the same period last year, translating to $1.56 per diluted common share compared to $1.41 [6][12] - Net interest income rose to $50,800,000, up by $2,800,000 or 5.8% from $48,000,000 year-over-year [6][13] - The annualized net interest margin improved to 3.72% from 3.42% a year ago, reflecting stable loan yield and effective funding cost control [7][13] - Non-interest expense increased to $36,100,000 from $33,700,000 in the prior year, primarily due to higher legal and professional fees [10][16] Business Line Data and Key Metrics Changes - Gross loans totaled $4,540,000,000, a decline of $223,000,000 or 4.7% from the end of 2024, mainly due to elevated commercial real estate and multifamily loan payoffs [7][20] - Construction lending showed solid momentum with total unfunded construction commitments steady at approximately $600,000,000 [8][20] - Non-interest income totaled $7,100,000, slightly up from $7,000,000 in the previous year, driven by improvements in commissions on annuity sales [15][16] Market Data and Key Metrics Changes - Total deposits decreased by $77,500,000 or 1.7% compared to the end of 2024, primarily due to a decrease in brokered deposits [20][21] - Nonperforming assets represented 0.14% of total assets, consistent with prior periods, indicating healthy asset quality [21][22] Company Strategy and Development Direction - The company remains focused on maintaining strong positions related to credit quality, capital, and liquidity despite competitive pressures [11][23] - A new stock repurchase authorization for up to 1,000,000 shares was approved, reflecting the company's commitment to returning value to shareholders [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver consistent profitability while managing risks and expenses [5][11] - The outlook for loan growth is modest, with expectations to keep balances steady for the remainder of the year [28][30] Other Important Information - The efficiency ratio was reported at 62.45%, indicating a focus on cost control and operational efficiency [19] - The allowance for credit losses as a percentage of total loans stood at 1.43%, reflecting a slight increase from the previous quarter [22] Q&A Session Summary Question: Loan growth outlook and regional opportunities - Management highlighted opportunities across various regions including Texas and Atlanta, despite elevated payoffs [28] Question: Credit quality and potential weaknesses - Management noted no broad signs of weakness in the portfolio, emphasizing that any issues are idiosyncratic to specific projects [29] Question: Operating expenses outlook - Management indicated that operating expenses may stabilize around the current level, with some legal fees expected to decrease [37][38] Question: Commission income sustainability - Management acknowledged that commission income has been elevated but could fluctuate based on customer interest [40][41]

Financial Performance - Net income for 3Q25 increased to $17.8 million ($1.56 per diluted share) from $16.5 million ($1.41 per diluted share) in 3Q24, a 7.7% increase[12, 19, 20] - Net interest income rose by $2.8 million, or 5.8%, year-over-year, to $50.8 million[13, 22] - Net interest margin improved to 3.72% in 3Q25, up from 3.42% in 3Q24, a 30 basis points increase[13, 23] Asset Quality - Non-performing assets decreased by $1.8 million from December 31, 2024, to $7.8 million, representing 0.14% of total assets[14] - Allowance for credit losses to period-end loans was 1.43% in 3Q25, compared to 1.36% in 3Q24[18] - Net charge-offs totaled $66,000 for the quarter, representing 0.01% of average loans on an annualized basis, compared to net charge-offs of $1.5 million, or 0.13%, in 3Q24[55] Capital Strength - Stockholders' equity increased by $33.4 million to $632.9 million, compared to December 31, 2024[15] - Tangible common equity to tangible assets ratio was 10.9%[15] Loan Portfolio - Gross loans declined by $223.7 million, or 4.7%, to $4.54 billion from $4.76 billion at December 31, 2024[16] - Multi-family real estate loans represent 33% of the loan portfolio, totaling $1.485 billion as of September 30, 2025[47] Deposits - Total deposits decreased from $4.606 billion in 4Q24 to $4.528 billion in 3Q25[37] - Brokered deposits decreased by $92.1 million, or 11.9%, compared to 4Q24[37] Non-Interest Income & Expense - Total non-interest income increased by 1.0% to $7.1 million in 3Q25 from $7.0 million in 3Q24[26] - Total non-interest expense increased by $2.4 million to $36.1 million in 3Q25 from $33.7 million in 3Q24[30]

[Executive Summary](index=1&type=section&id=1.%20Executive%20Summary) [Preliminary Third Quarter 2025 Earnings](index=1&type=section&id=1.1%20Preliminary%20Third%20Quarter%202025%20Earnings) Great Southern Bancorp, Inc. reported preliminary earnings of **$1.56 per diluted common share** for Q3 2025, an **increase from $1.41** in Q3 2024, with net income rising to **$17.8 million from $16.5 million** Preliminary Earnings Overview | Metric | Q3 2025 | Q3 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Diluted EPS | $1.56 | $1.41 | +$0.15 | | Net Income | $17.8 million | $16.5 million | +$1.3 million | | Return on Average Common Equity (Annualized) | 11.30% | 11.10% | +0.20% | | Return on Average Assets (Annualized) | 1.23% | 1.11% | +0.12% | | Net Interest Margin (Annualized) | 3.72% | 3.42% | +0.30% | [Third Quarter 2025 Key Financial Highlights](index=1&type=section&id=1.2%20Third%20Quarter%202025%20Key%20Financial%20Highlights) Key financial highlights for Q3 2025 include a **5.8% increase in net interest income**, improved asset quality with non-performing assets decreasing by **$7.4 million**, strong capital ratios exceeding regulatory thresholds, and a **4.7% decrease in total net loans** - Net interest income **increased by $2.8 million (5.8%)** to **$50.8 million**, primarily due to lower interest expense on deposits and borrowings. Annualized net interest margin rose to **3.72% from 3.42% YoY**[3](index=3&type=chunk) - Asset quality **improved significantly**, with non-performing assets and potential problem loans **decreasing by $7.4 million** to **$9.2 million** at September 30, 2025, from **$16.6 million** at December 31, 2024. Non-performing assets were **0.14% of total assets**[3](index=3&type=chunk) - The Company maintained **strong liquidity** with **$1.11 billion** in FHLBank line availability and **$356.2 million** at the Federal Reserve Bank, plus **$369.9 million** in unpledged securities[3](index=3&type=chunk) - Capital position remained **strong**, with Tier 1 Leverage Ratio at **11.9%**, Common Equity Tier 1 Capital Ratio at **13.3%**, Tier 1 Capital Ratio at **13.8%**, and Total Capital Ratio at **15.1%**, all significantly above regulatory thresholds. Tangible common equity to tangible assets ratio was **10.9%**[3](index=3&type=chunk) - Total net loans **decreased by $222.7 million (4.7%)** from December 31, 2024, to **$4.47 billion**, mainly due to reductions in construction, multi-family, and one-to-four-family residential loans[3](index=3&type=chunk) [CEO Commentary on Performance and Strategy](index=2&type=section&id=1.3%20CEO%20Commentary%20on%20Performance%20and%20Strategy) CEO Joseph W. Turner highlighted continued stability in core operations, disciplined execution of strategy, solid core performance with consistent net interest income, strong asset quality, and prudent expense management. He noted the resilience of the margin despite a competitive funding environment and the cessation of interest income from a terminated swap. The balance sheet remains well-positioned, with a focus on maintaining strong capital and liquidity, supporting customers, and generating shareholder value through consistent earnings and share repurchases - Core performance remained **solid**, with **consistent net interest income**, **strong asset quality**, and **prudent expense management** despite a competitive funding environment[4](index=4&type=chunk) - Total interest income for Q3 2025 was **$79.1 million**, with net interest income **increasing to $50.8 million YoY**, demonstrating margin resilience and disciplined asset-liability management. However, interest income from a terminated swap ceased after October 6, 2025[4](index=4&type=chunk) - Total assets were approximately **$5.74 billion** at September 30, 2025, reflecting **modest contraction** due to elevated net loan payoffs, particularly in multi-family and construction loans[4](index=4&type=chunk) - Operating discipline is a primary focus, with non-interest expense at **$36.1 million**, driven by higher legal/professional fees and core technology system upgrades. Non-interest income was **$7.1 million**, supported by various service fees[4](index=4&type=chunk) - Priorities include maintaining **strong capital and liquidity**, supporting customers, and generating shareholder value. The tangible common equity ratio was **10.9%**, and book value per common share was **$56.18**, benefiting from consistent earnings and opportunistic share repurchases (**165,000 shares repurchased in Q3 2025**)[4](index=4&type=chunk) [Financial Performance Analysis](index=3&type=section&id=2.%20Financial%20Performance%20Analysis) [Net Interest Income](index=3&type=section&id=2.1%20Net%20Interest%20Income) Net interest income for Q3 2025 **increased by $2.8 million (5.8%)** to **$50.8 million** compared to Q3 2024, primarily driven by reduced interest expense on deposits and borrowings. The annualized net interest margin improved to **3.72%** Net Interest Income (in thousands) | Metric | Q3 2025 | Q3 2024 | Q2 2025 | | :--- | :--- | :--- | :--- | | Interest Income | $79,079 | $83,796 | $80,975 | | Interest Expense | $28,306 | $35,821 | $30,012 | | Net Interest Income | $50,773 | $47,975 | $50,963 | | Net Interest Margin | 3.72% | 3.42% | 3.68% | | Average Interest Rate Spread | 3.13% | 2.74% | 3.09% | [Interest Income and Expense Drivers](index=3&type=section&id=2.1.1%20Interest%20Income%20and%20Expense%20Drivers) The increase in net interest income was primarily due to strategic management of maturing/repricing brokered deposits and interest-bearing demand deposits, and the redemption of subordinated notes in June 2025, which eliminated associated interest expense. These reductions in interest expense offset a decrease in interest income on loans due to lower balances and market rates - Average yield on total interest-earning assets **decreased from 5.98% in Q3 2024 to 5.79% in Q3 2025**, with loan yields **decreasing 23 basis points**[6](index=6&type=chunk) - Average rate paid on total interest-bearing liabilities **decreased from 3.24% in Q3 2024 to 2.66% in Q3 2025**, driven by decreases in rates paid on interest-bearing demand/savings deposits (**-34 bps**), time deposits (**-68 bps**), and brokered deposits (**-72 bps**)[6](index=6&type=chunk) - Market interest rates, including the federal funds rate and SOFR, **declined from Q4 2024 through Q3 2025**, with an additional federal funds rate cut in September 2025, contributing to lower average rates paid on deposits and borrowings[7](index=7&type=chunk) [Impact of Derivative Financial Instruments](index=3&type=section&id=2.1.2%20Impact%20of%20Derivative%20Financial%20Instruments) The Company uses interest rate swaps to mitigate interest rate fluctuation risk. Interest income from a terminated swap, which provided approximately **$2.0 million per quarter**, ceased after October 6, 2025 - The Company utilizes derivative financial instruments, primarily interest rate swaps, as part of its interest rate risk management strategy to mitigate exposure to fluctuations in future cash flows from interest rate changes[8](index=8&type=chunk) Effect of Cash Flow Hedge Accounting on Interest Income (in thousands) | Metric | Q3 2025 | Q3 2024 | Q2 2025 | | :--- | :--- | :--- | :--- | | Terminated interest rate swaps | $2,047 | $2,047 | $2,025 | | Active interest rate swaps | ($1,761) | ($2,743) | ($1,757) | | Increase (decrease) to interest income | $286 | ($696) | $268 | - Interest income from a terminated interest rate swap, which had been accreted monthly and provided approximately **$2.0 million per quarter**, ceased after its originally scheduled termination date of October 6, 2025[10](index=10&type=chunk) [Deposit Cost and Maturity Profile](index=4&type=section&id=2.1.3%20Deposit%20Cost%20and%20Maturity%20Profile) Deposit costs were impacted by industry competition and past liquidity events. While market rates for time deposits have declined, replacement rates for maturing time deposits are expected to be between **3.10-3.60%** - The cost of deposits was **negatively impacted** by high industry competition and lingering effects of liquidity events in March-April 2023[11](index=11&type=chunk) - Market rates for time deposits, while elevated for much of 2024, have **declined** due to FOMC rate cuts (**100 bps in late 2024, 25 bps in Q3 2025**)[11](index=11&type=chunk) Time Deposit Maturities (as of September 30, 2025) | Maturity Period | Amount (millions) | Weighted-Average Rate | | :--- | :--- | :--- | | Within three months | $675 | 3.97% | | Within three to six months | $365 | 3.29% | | Within six to twelve months | $54 | 2.16% | | Expected Replacement Rates | | 3.10-3.60% | [Non-Interest Income](index=4&type=section&id=2.2%20Non-Interest%20Income) Non-interest income for Q3 2025 **increased by $70,000** to **$7.1 million** compared to Q3 2024, primarily driven by a **$206,000 increase in commission income** Non-Interest Income (in thousands) | Metric | Q3 2025 | Q3 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Non-interest income | $7,062 | $6,992 | +$70 | | Commission income | | | +$206 | [Non-Interest Expense](index=4&type=section&id=2.3%20Non-Interest%20Expense) Non-interest expense **increased by $2.4 million** to **$36.1 million** in Q3 2025 compared to Q3 2024, mainly due to higher occupancy and equipment expenses, salaries and employee benefits, legal and professional fees, and expenses on other real estate owned. The efficiency ratio slightly worsened to **62.45%** Non-Interest Expense Changes (Q3 2025 vs. Q3 2024, in thousands) | Expense Category | Q3 2025 | Q3 2024 | Change | | :--- | :--- | :--- | :--- | | Total Non-interest expense | $36,116 | $33,717 | +$2,399 | | Net occupancy and equipment expenses | | | +$735 (9.0%) | | Salaries and employee benefits | | | +$636 (3.3%) | | Legal, audit and other professional fees | $1,200 | | +$439 | | Expense on other real estate owned | | | +$394 (73.5%) | - The increase in net occupancy and equipment expenses was primarily due to **$637,000** in computer license and support expenses for core systems upgrades and disaster recovery[13](index=13&type=chunk) - Salaries and employee benefits **increased** due to annual merit increases in lending and operations. Legal fees **increased by $355,000** due to corporate matters and loan collection activities[13](index=13&type=chunk) - The Company's efficiency ratio for Q3 2025 was **62.45%**, up from **61.34%** in Q3 2024. The ratio of non-interest expense to average assets was **2.50%**, up from **2.27% YoY**, partly due to a **3.1% decline in average assets**[14](index=14&type=chunk) [Income Taxes](index=6&type=section&id=2.4%20Income%20Taxes) The effective tax rate for Q3 2025 was **19.7%**, up from **18.0%** in Q3 2024, remaining below the statutory federal rate due to investment tax credits and tax-exempt investments/loans. The Company expects its future effective tax rate to be approximately **18.5% to 20.0%** Effective Tax Rates | Period | Effective Tax Rate | | :--- | :--- | | Q3 2025 | 19.7% | | Q3 2024 | 18.0% | | YTD Q3 2025 | 19.4% | | YTD Q3 2024 | 18.5% | | Statutory Federal Tax Rate | 21.0% | | Expected Future Rate | 18.5% - 20.0% | - The effective tax rates were **below the statutory federal rate of 21.0%** due to the utilization of investment tax credits and tax-exempt investments and loans[15](index=15&type=chunk) [Balance Sheet and Asset Quality](index=6&type=section&id=3.%20Balance%20Sheet%20and%20Asset%20Quality) [Capital](index=6&type=section&id=3.1%20Capital) The Company's capital position remained **strong**, with all regulatory capital ratios exceeding thresholds. Stockholders' equity **increased by $33.4 million** from December 2024, driven by net income and decreased unrealized losses, partially offset by dividends and share repurchases. A new stock repurchase program was approved in April 2025 Consolidated Regulatory Capital Ratios (Preliminary) | Ratio | Sep 30, 2025 | Dec 31, 2024 | Jun 30, 2025 | | :--- | :--- | :--- | :--- | | Tier 1 Leverage Ratio | 11.9% | 11.2% | 11.5% | | Common Equity Tier 1 Capital Ratio | 13.3% | 12.3% | 13.0% | | Tier 1 Capital Ratio | 13.8% | 12.8% | 13.5% | | Total Capital Ratio | 15.1% | 15.4% | 14.7% | | Tangible Common Equity Ratio | 10.9% | 9.9% | 10.5% | [Stockholders' Equity and Regulatory Ratios](index=6&type=section&id=3.1.1%20Stockholders'%20Equity%20and%20Regulatory%20Ratios) Total stockholders' equity reached **$632.9 million (11.0% of total assets)** at September 30, 2025, up from **$599.6 million** at December 31, 2024. This increase was primarily due to **$54.7 million** in net income and an **$18.5 million decrease** in net unrealized losses on available-for-sale securities and interest rate swaps - Book value per common share **increased to $56.18** at September 30, 2025, from **$51.14** at December 31, 2024[16](index=16&type=chunk) - Unrealized losses on held-to-maturity investment securities, not included in total capital, **decreased from $24.7 million** at December 31, 2024, to **$17.7 million** at September 30, 2025[17](index=17&type=chunk) [Stock Repurchase Program and Dividends](index=7&type=section&id=3.1.2%20Stock%20Repurchase%20Program%20and%20Dividends) The Company completed its November 2022 stock repurchase program in Q3 2025 and approved a new program in April 2025 authorizing up to **one million additional shares**. In Q3 2025, **165,116 shares** were repurchased at an average price of **$60.33**, and a quarterly cash dividend of **$0.43 per common share** was declared - As of September 30, 2025, approximately **929,000 shares** remained available under the April 2025 stock repurchase authorization[18](index=18&type=chunk) - During the nine months ended September 30, 2025, the Company repurchased **514,458 shares** at an average price of **$57.89** and declared total cash dividends of **$1.23 per common share**[20](index=20&type=chunk) [Liquidity and Deposits](index=7&type=section&id=3.2%20Liquidity%20and%20Deposits) The Company maintains sufficient liquidity through customer deposits, FHLBank advances, other borrowings, and unpledged securities. Total deposits **decreased by $77.5 million** during the first nine months of 2025, primarily due to a **$92.1 million decrease** in brokered deposits, as the Company elected not to replace some maturing brokered deposits due to declining total assets - Primary sources of funds include customer deposits, FHLBank advances, other borrowings, loan repayments, unpledged securities, and proceeds from sales of loans and available-for-sale securities[21](index=21&type=chunk) Available Secured Lines and On-Balance Sheet Liquidity (as of Sep 30, 2025) | Source | Amount (millions) | | :--- | :--- | | Federal Home Loan Bank line | $1,111.0 | | Federal Reserve Bank line | $356.2 | | Cash and cash equivalents | $196.2 | | Unpledged securities – Available-for-sale | $344.3 | | Unpledged securities – Held-to-maturity | $25.6 | Deposit Balances (as of Sep 30, 2025) | Deposit Type | Amount (millions) | | :--- | :--- | | Interest-bearing checking | $2,269.0 | | Non-interest-bearing checking | $855.4 | | Time deposits | $723.7 | | Brokered deposits | $680.0 | | Total Deposits | $4,528.1 | | Uninsured Deposits (excluding consolidated subsidiaries) | $741.9 (16.4% of total deposits) | [Loans](index=8&type=section&id=3.3%20Loans) Total net loans, excluding mortgage loans held for sale, **decreased by $222.7 million (4.7%)** from December 31, 2024, to **$4.47 billion** at September 30, 2025, primarily driven by decreases in construction, multi-family, and one-to-four-family residential loans. The pipeline of unfunded loan commitments remained strong [Loan Portfolio Changes](index=8&type=section&id=3.3.1%20Loan%20Portfolio%20Changes) The decrease in net loans was primarily attributed to reductions of **$122.7 million** in construction loans, **$63.7 million** in other residential (multi-family) loans, **$36.6 million** in one-to-four-family residential loans, and **$12.8 million** in commercial real estate loans - Compared to June 30, 2025, net loans **decreased by $66.6 million**[24](index=24&type=chunk) [Loan Commitments](index=8&type=section&id=3.3.2%20Loan%20Commitments) The unfunded portion of loans and formal loan commitments remained **strong**, with the largest portion (**$582.4 million**) represented by unfunded construction loans at September 30, 2025 Loan Commitments and Unfunded Portions (in thousands) | Category | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | :--- | | Closed non-construction loans with unused available lines (one- to four-family) | $207,820 | $211,453 | $205,599 | | Closed non-construction loans with unused available lines (commercial business) | $87,205 | $102,891 | $106,621 | | Closed construction loans with unused available lines (one- to four-family) | $88,257 | $96,935 | $94,501 | | Closed construction loans with unused available lines (not one- to four-family) | $600,243 | $644,427 | $703,947 | | Loan commitments not closed (one- to four-family) | $16,923 | $17,148 | $14,373 | | Loan commitments not closed (not one- to four-family) | $27,565 | $13,002 | $53,660 | | Loan commitments not closed (commercial business) | $32,837 | $27,003 | $22,884 | | **Total** | **$1,060,850** | **$1,112,859** | **$1,201,585** | [Provision for Credit Losses and Allowance for Credit Losses](index=8&type=section&id=3.4%20Provision%20for%20Credit%20Losses%20and%20Allowance%20for%20Credit%20Losses) The Company recorded **no provision expense** on its outstanding loan portfolio for Q3 2025 and YTD Q3 2025, compared to **$1.2 million** and **$1.7 million** in the respective prior-year periods. Net charge-offs were minimal, and the allowance for credit losses remained **adequate at 1.43% of total loans** Provision for Credit Losses and Net Charge-offs (in thousands) | Metric | Q3 2025 | Q3 2024 | YTD Q3 2025 | YTD Q3 2024 | | :--- | :--- | :--- | :--- | :--- | | Provision expense on outstanding loans | $0 | $1,200 | $0 | $1,700 | | Total net charge-offs | $66 | $1,500 | $11 | $1,500 | | Negative provision for unfunded commitments | ($379) | ($63) | ($837) | ($540) | - The Bank's 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, and **1.41%** at June 30, 2025[27](index=27&type=chunk) - Management considers the allowance for credit losses **adequate**, but notes that challenging economic conditions could require additional provisions[27](index=27&type=chunk)[28](index=28&type=chunk) [Asset Quality](index=10&type=section&id=3.5%20Asset%20Quality) Asset quality continued to **improve**, with non-performing assets **decreasing to $7.8 million (0.14% of total assets)** at September 30, 2025. Non-performing loans and potential problem loans also saw reductions, reflecting sound underwriting and portfolio management [Non-Performing Assets Overview](index=10&type=section&id=3.5.1%20Non-Performing%20Assets%20Overview) Non-performing assets **decreased by $1.8 million** from **$9.6 million** at December 31, 2024, to **$7.8 million** at September 30, 2025, representing **0.14% of total assets** - Non-performing assets also **decreased by $273,000** from **$8.1 million** at June 30, 2025[29](index=29&type=chunk) [Non-Performing Loans Activity](index=10&type=section&id=3.5.2%20Non-Performing%20Loans%20Activity) Total non-performing loans **decreased by $316,000** compared to June 30, 2025, ending at **$1.728 million**. The one-to-four-family residential category, consisting of six loans, saw two pay-offs totaling **$237,000** Non-Performing Loans Activity (Q3 2025, in thousands) | Category | Beginning Balance (Jul 1) | Additions | Removed | Transfers to Foreclosed Assets | Payments | Ending Balance (Sep 30) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | One- to four-family residential | $2,026 | $1 | $0 | ($69) | ($252) | $1,706 | | Consumer | $18 | $9 | $0 | $0 | ($5) | $22 | | **Total non-performing loans** | **$2,044** | **$10** | **$0** | **($69)** | **($257)** | **$1,728** | - The largest non-performing one-to-four-family residential relationship totaled **$614,000**, collateralized by a property in Sarasota, Fla[31](index=31&type=chunk) [Potential Problem Loans Activity](index=10&type=section&id=3.5.3%20Potential%20Problem%20Loans%20Activity) Potential problem loans **decreased by $5.8 million** compared to June 30, 2025, ending at **$1.398 million**. This reduction was largely due to the upgrade of a **$4.3 million** commercial real estate loan relationship and a **$963,000** one-to-four-family loan relationship from substandard to special mention or non-classified categories Potential Problem Loans Activity (Q3 2025, in thousands) | Category | Beginning Balance (Jul 1) | Additions | Removed | Loan Advances (Payments) | Ending Balance (Sep 30) | | :--- | :--- | :--- | :--- | :--- | :--- | | One- to four-family residential | $1,839 | $292 | ($963) | ($13) | $1,155 | | Commercial real estate | $4,297 | $0 | ($4,297) | $0 | $0 | | Commercial business | $33 | $0 | $0 | ($33) | $0 | | Consumer | $1,037 | $10 | ($784) | ($20) | $243 | | **Total potential problem loans** | **$7,206** | **$302** | **($6,044)** | **($43)** | **$1,398** | - The upgraded commercial real estate relationship involved three nursing care facilities in southwest Missouri. The upgraded one-to-four-family relationship involved multiple single-family residential properties in Indiana and Florida[33](index=33&type=chunk) [Foreclosed Assets and Repossessions Activity](index=12&type=section&id=3.5.4%20Foreclosed%20Assets%20and%20Repossessions%20Activity) Foreclosed assets and repossessions **increased by $43,000** compared to June 30, 2025, reaching **$6.083 million**. The largest asset in this category is a **$6.0 million** office building in Clayton, Mo., foreclosed in Q4 2024 Foreclosed Assets and Repossessions Activity (Q3 2025, in thousands) | Category | Beginning Balance (Jul 1) | Additions | Sales | Ending Balance (Sep 30) | | :--- | :--- | :--- | :--- | :--- | | One- to four-family residential | $0 | $69 | ($69) | $0 | | Commercial real estate | $6,036 | $0 | $0 | $6,036 | | Consumer | $4 | $71 | ($28) | $47 | | **Total foreclosed assets and repossessions** | **$6,040** | **$140** | **($97)** | **$6,083** | [Business Operations and Corporate Information](index=12&type=section&id=4.%20Business%20Operations%20and%20Corporate%20Information) [Business Initiatives](index=12&type=section&id=4.1%20Business%20Initiatives) The Company is advancing technology initiatives with its core provider, including customer-facing online services and a treasury management platform overhaul. A new next-generation banking center in Springfield, Mo., is nearing completion, designed to test new processes and innovations - Projects to improve customer-facing online services and deliver a full overhaul of the Company's treasury management services platform are moving to the trial phase[35](index=35&type=chunk) - Construction of a new next-generation banking center at 723 N. Benton in Springfield, Mo., is nearly complete, with a grand opening scheduled for late October. This facility will allow the Company to test new processes and innovations[36](index=36&type=chunk) [Earnings Conference Call](index=12&type=section&id=4.2%20Earnings%20Conference%20Call) Great Southern Bancorp, Inc. will host a conference call on Thursday, October 16, 2025, at 2:00 p.m. Central Time to discuss its third quarter 2025 preliminary earnings - The call will be available live or in a recorded version on the Company's Investor Relations website[37](index=37&type=chunk) [About Great Southern Bancorp, Inc.](index=13&type=section&id=4.3%20About%20Great%20Southern%20Bancorp,%20Inc.) Great Southern Bancorp, Inc., headquartered in Springfield, Missouri, offers a broad range of banking services. It operates **89 retail banking centers** across six states and commercial lending offices in several major cities. Its common stock is listed on the Nasdaq Global Select Market under the symbol "GSBC" - The Company operates **89 retail banking centers** in Missouri, Iowa, Kansas, Minnesota, Arkansas, and Nebraska[39](index=39&type=chunk) - Commercial lending offices are located in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix[39](index=39&type=chunk) [Forward-Looking Statements](index=13&type=section&id=4.4%20Forward-Looking%20Statements) This section contains forward-looking statements, which are subject to inherent uncertainties and risks that could cause actual results to differ materially from expectations. Key factors include economic conditions, interest rate fluctuations, bank failures, lending risks, regulatory changes, and cybersecurity threats. The Company disclaims any obligation to update these statements - Forward-looking statements are identified by words like "may," "might," "could," "should," "will likely result," "are expected to," "will continue," "is anticipated," "believe," "estimate," "project," "intends" or similar expressions[40](index=40&type=chunk) - Factors that could cause differences include changes in economic conditions, interest rate fluctuations, impact of bank failures, lending and investing risks, liquidity access, real estate values, technological changes, cybersecurity risks, legislative/regulatory changes, and litigation costs[41](index=41&type=chunk) - The Company does not undertake any obligation to publicly release revisions to forward-looking statements to reflect events or circumstances after the date of such statements[42](index=42&type=chunk) [Selected Financial Data and Non-GAAP Measures](index=14&type=section&id=5.%20Selected%20Financial%20Data%20and%20Non-GAAP%20Measures) [Selected Quarterly and Nine-Month Financial Data](index=14&type=section&id=5.1%20Selected%20Quarterly%20and%20Nine-Month%20Financial%20Data) This section presents selected consolidated financial information, including financial condition data, operating data, per common share metrics, earnings performance ratios, and asset quality ratios for various quarterly and nine-month periods. All data, except for December 31, 2024, is unaudited Selected Financial Condition Data (in thousands) | Metric | Sep 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total assets | $5,737,867 | $5,981,628 | | Loans receivable, gross | $4,538,114 | $4,761,848 | | Allowance for credit losses | $64,749 | $64,760 | | Deposits | $4,528,033 | $4,605,549 | | Total borrowings | $494,355 | $679,341 | | Total stockholders' equity | $632,926 | $599,568 | | Non-performing assets | $7,811 | $9,566 | Selected Operating Data (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | YTD Q3 2025 | YTD Q3 2024 | Q2 2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net interest income | $50,773 | $47,975 | $151,070 | $139,609 | $50,963 | | Net income | $17,752 | $16,490 | $54,698 | $46,885 | $19,786 | | Earnings per diluted common share | $1.56 | $1.41 | $4.74 | $3.99 | $1.72 | | Book value per common share | $56.18 | $52.40 | $56.18 | $52.40 | $54.61 | | Annualized return on average assets | 1.23% | 1.11% | 1.24% | 1.07% | 1.34% | | Net interest margin | 3.72% | 3.42% | 3.66% | 3.39% | 3.68% | | Efficiency ratio | 62.45% | 61.34% | 61.26% | 64.05% | 59.16% | | Allowance for credit losses to period-end loans | 1.43% | 1.36% | 1.43% | 1.36% | 1.41% | | Non-performing assets to period-end assets | 0.14% | 0.13% | 0.14% | 0.13% | 0.14% | [Consolidated Statements of Financial Condition](index=16&type=section&id=5.2%20Consolidated%20Statements%20of%20Financial%20Condition) The consolidated statements of financial condition provide a detailed breakdown of the Company's assets, liabilities, and stockholders' equity at September 30, 2025, December 31, 2024, and June 30, 2025 Consolidated Statements of Financial Condition (in thousands) | Metric | Sep 30, 2025 | Dec 31, 2024 | Jun 30, 2025 | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $196,235 | $195,756 | $245,913 | | Available-for-sale securities | $531,348 | $533,373 | $527,543 | | Held-to-maturity securities | $181,315 | $187,433 | $183,100 | | Loans receivable, net | $4,467,683 | $4,690,393 | $4,534,287 | | Total Assets | $5,737,867 | $5,981,628 | $5,854,672 | | **Liabilities** | | | | | Deposits | $4,528,033 | $4,605,549 | $4,684,126 | | Short-term borrowings | $425,907 | $514,247 | $369,907 | | Subordinated notes | $0 | $74,876 | $0 | | Total Liabilities | $5,104,941 | $5,382,060 | $5,232,304 | | **Stockholders' Equity** | | | | | Total Stockholders' Equity | $632,926 | $599,568 | $622,368 | [Consolidated Statements of Income](index=18&type=section&id=5.3%20Consolidated%20Statements%20of%20Income) The consolidated statements of income provide a detailed breakdown of the Company's revenues and expenses, leading to net income, for the three and nine months ended September 30, 2025 and 2024, and the three months ended June 30, 2025 Consolidated Statements of Income (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | YTD Q3 2025 | YTD Q3 2024 | Q2 2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | Interest Income | $79,079 | $83,796 | $240,297 | $242,113 | $80,975 | | Interest Expense | $28,306 | $35,821 | $89,227 | $102,504 | $30,012 | | Net Interest Income | $50,773 | $47,975 | $151,070 | $139,609 | $50,963 | | Provision for Credit Losses on Loans | $0 | $1,200 | $0 | $1,700 | $0 | | Non-interest Income | $7,062 | $6,992 | $21,864 | $23,631 | $8,212 | | Non-interest Expense | $36,116 | $33,717 | $105,943 | $104,548 | $35,005 | | Income Before Income Taxes | $22,098 | $20,113 | $67,828 | $57,532 | $24,280 | | Provision for Income Taxes | $4,346 | $3,623 | $13,130 | $10,647 | $4,494 | | Net Income | $17,752 | $16,490 | $54,698 | $46,885 | $19,786 | | Diluted Earnings Per Common Share | $1.56 | $1.41 | $4.74 | $3.99 | $1.72 | | Dividends Declared Per Common Share | $0.43 | $0.40 | $1.23 | $1.20 | $0.40 | [Average Balances, Interest Rates and Yields](index=20&type=section&id=5.4%20Average%20Balances,%20Interest%20Rates%20and%20Yields) This section details the average balances of interest-earning assets and interest-bearing liabilities, along with their corresponding interest income/expense, yields, and rates, for the three and nine months ended September 30, 2025 and 2024. It also presents the net interest margin and interest rate spread Average Balances, Interest Rates and Yields (Q3 2025 vs. Q3 2024, in thousands) | Metric | Q3 2025 Average Balance | Q3 2025 Interest | Q3 2025 Yield/Rate | Q3 2024 Average Balance | Q3 2024 Interest | Q3 2024 Yield/Rate | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Interest-earning assets:** | | | | | | | | Total loans receivable | $4,598,913 | $72,028 | 6.11% | $4,723,587 | $76,425 | 6.44% | | Investment securities | $722,880 | $6,081 | 3.20% | $758,793 | $6,092 | 3.19% | | Total interest-earning assets | $5,414,821 | $79,079 | 5.69% | $5,579,021 | $83,796 | 5.98% | | **Interest-bearing liabilities:** | | | | | | | | Total deposits | $3,830,345 | $23,984 | 2.28% | $3,812,779 | $28,486 | 2.97% | | Total interest-bearing liabilities | $4,228,288 | $28,306 | 2.50% | $4,398,634 | $35,821 | 3.24% | | Net interest income | | $50,773 | | | $47,975 | | | Interest rate spread | | | 3.19% | | | 2.74% | | Net interest margin | | | 3.72% | | | 3.42% | Average Balances, Interest Rates and Yields (YTD Q3 2025 vs. YTD Q3 2024, in thousands) | Metric | YTD Q3 2025 Average Balance | YTD Q3 2025 Interest | YTD Q3 2025 Yield/Rate | YTD Q3 2024 Average Balance | YTD Q3 2024 Interest | YTD Q3 2024 Yield/Rate | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Interest-earning assets:** | | | | | | | | Total loans receivable | $4,695,303 | $218,929 | 6.11% | $4,693,312 | $221,796 | 6.31% | | Total interest-earning assets | $5,523,165 | $240,297 | 5.69% | $5,499,890 | $242,113 | 5.88% | | **Interest-bearing liabilities:** | | | | | | | | Total deposits | $3,864,918 | $72,952 | 2.28% | $3,825,200 | $83,906 | 2.93% | | Total interest-bearing liabilities | $4,355,932 | $89,227 | 2.50% | $4,331,830 | $102,504 | 3.16% | | Net interest income | | $151,070 | | | $139,609 | | | Interest rate spread | | | 3.19% | | | 2.72% | | Net interest margin | | | 3.66% | | | 3.39% | [Non-GAAP Financial Measures: Tangible Common Equity to Tangible Assets](index=24&type=section&id=5.5%20Non-GAAP%20Financial%20Measures:%20Tangible%20Common%20Equity%20to%20Tangible%20Assets) This section provides a reconciliation of the non-GAAP financial measure, the ratio of tangible common equity to tangible assets. Management uses this metric to assess the utilization of tangible capital and capital strength, believing it offers useful supplemental information for understanding financial condition and comparing performance with peers - The ratio of tangible common equity to tangible assets is calculated by subtracting period-end intangible assets from common equity and total assets[60](index=60&type=chunk) - Management believes this non-GAAP measure provides useful supplemental information for understanding financial condition, assessing management's success in utilizing tangible capital, and comparing performance with peers[60](index=60&type=chunk) Non-GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets (in thousands) | Metric | Sep 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Common equity at period end | $632,926 | $599,568 | | Less: Intangible assets at period end | $9,769 | $10,094 | | Tangible common equity at period end (a) | $623,157 | $589,474 | | Total assets at period end | $5,737,867 | $5,981,628 | | Less: Intangible assets at period end | $9,769 | $10,094 | | Tangible assets at period end (b) | $5,728,098 | $5,971,534 | | Tangible common equity to tangible assets (a) / (b) | 10.88% | 9.87% |

Core Insights - Great Southern Bancorp (GSBC) reported quarterly earnings of $1.56 per share, exceeding the Zacks Consensus Estimate of $1.55 per share, and up from $1.41 per share a year ago, representing an earnings surprise of +0.65% [1] - The company posted revenues of $57.84 million for the quarter ended September 2025, which was below the Zacks Consensus Estimate by 0.63%, but an increase from $54.97 million year-over-year [2] - The stock has gained approximately 4.5% since the beginning of the year, while the S&P 500 has increased by 13% [3] Earnings Outlook - The earnings outlook for Great Southern Bancorp is mixed, with current consensus EPS estimates at $1.41 for the coming quarter and $6.15 for the current fiscal year, with revenues expected to be $56.4 million and $229.7 million respectively [7] - The company's Zacks Rank is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Financial - Savings and Loan industry, to which Great Southern Bancorp belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]

Core Financial Performance - The company reported preliminary earnings of $1.56 per diluted common share for Q3 2025, an increase from $1.41 per diluted common share in Q3 2024, resulting in a net income of $17.8 million compared to $16.5 million in the previous year [1][5] - Annualized return on average common equity was 11.30% and return on average assets was 1.23% for Q3 2025, compared to 11.10% and 1.11% respectively for Q3 2024 [1] Net Interest Income - Net interest income increased by $2.8 million (5.8%) to $50.8 million in Q3 2025 from $48.0 million in Q3 2024, driven by lower interest expenses on deposits and borrowings [4][7] - The annualized net interest margin improved to 3.72% in Q3 2025 from 3.42% in Q3 2024 [4][6] Asset Quality - Non-performing assets decreased to $7.8 million (0.14% of total assets) at September 30, 2025, down from $9.6 million (0.16% of total assets) at December 31, 2024 [4][32] - The allowance for credit losses as a percentage of total loans was 1.43% at September 30, 2025, indicating adequate coverage for potential losses [31] Capital Position - The company's capital ratios remained strong, with a Tier 1 Leverage Ratio of 11.9% and a Common Equity Tier 1 Capital Ratio of 13.3% as of September 30, 2025 [16][18] - Total stockholders' equity increased to $632.9 million, representing 11.0% of total assets, with a book value of $56.18 per common share [18][21] Liquidity and Deposits - The company had secured borrowing lines of $1.11 billion at the Federal Home Loan Bank and $356.2 million at the Federal Reserve Bank as of September 30, 2025 [24][25] - Total deposits decreased by $156.1 million in Q3 2025, primarily due to a decline in brokered deposits [25][26] Loans - Total net loans decreased by $222.7 million (4.7%) from $4.69 billion at December 31, 2024, to $4.47 billion at September 30, 2025, mainly due to reductions in construction and residential loans [27][28] - The pipeline of unfunded loans remained strong, with significant amounts in construction loans [28] Non-Interest Income and Expense - Non-interest income increased slightly to $7.1 million in Q3 2025, supported by service fee income [13] - Non-interest expenses rose to $36.1 million, primarily due to higher legal and professional fees [14][17]

Core Viewpoint - Great Southern Bancorp, Inc. is set to announce its preliminary earnings for the third quarter of 2025 on October 15, 2025, with a subsequent conference call scheduled for October 16, 2025 [1] Group 1 - The earnings report will be made public through a news release and will be accessible on the Company's Investor Relations website [3] - The earnings release will also be filed with the Securities and Exchange Commission (SEC) as part of a Current Report on Form 8-K [3] Group 2 - Great Southern Bank, headquartered in Springfield, Missouri, provides a wide range of banking services and operates 89 retail banking centers across several states [4] - The common stock of Great Southern Bancorp, Inc. is traded on the Nasdaq Global Select Market under the ticker symbol "GSBC" [4]