SPRINGFIELD, Mo., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, expects to report fourth quarter preliminary earnings after the market closes on Tuesday, January 21, 2025, and host a conference call on Wednesday, January 22, 2025, at 2:00 p.m. Central Time (3:00 p.m. Eastern Time). The call will be available live or later in a recorded version at the Company's Investor Relations website, https://investors.greatsouthernbank.com. Par ...

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Financial Performance - Net income for Q3 2024 was $16.5 million, a 3.8% increase from $15.9 million in Q3 2023, driven by a $1.8 million decrease in non-interest expense and a $1.2 million increase in net interest income[249]. - For the nine months ended September 30, 2024, net income decreased to $46.9 million, down 14.2% from $54.7 million in the same period in 2023, primarily due to an $8.5 million decrease in net interest income[250]. - Non-interest income for the three months ended September 30, 2024, decreased by $860,000 to $7.0 million compared to the same period in 2023[302]. - The Company's efficiency ratio improved to 61.34% for the three months ended September 30, 2024, compared to 65.13% for the same period in 2023[314]. - The effective tax rate for the three months ended September 30, 2024, was 18.0%, down from 21.5% in the same period in 2023[315]. Interest Income and Expense - Total interest income increased by $8.5 million, or 11.3%, in Q3 2024 compared to Q3 2023, attributed to a $7.5 million increase in interest income on loans[251]. - Interest income on loans rose by $5.9 million in Q3 2024, with the average yield increasing from 5.92% to 6.44%[253]. - Total interest expense increased by $7.3 million, or 25.5%, in Q3 2024, mainly due to a $4.0 million increase in interest expense on short-term borrowings[264]. - Interest expense on deposits rose by $9.7 million in the nine months ended September 30, 2024, with average rates increasing from 1.18% to 1.76%[268]. - The interest rate spread was 3.42% for the current quarter, slightly down from 3.43% in the previous year[318]. Asset and Liability Management - Great Southern's total assets increased by $224.1 million, or 3.9%, from $5.81 billion at December 31, 2023, to $6.04 billion at September 30, 2024[203]. - Total liabilities increased by $183.9 million to $5.42 billion, mainly due to higher short-term borrowings and brokered deposits[242]. - Total deposits decreased by $24.2 million, or 0.5%, to $4.70 billion, with a notable decline in retail certificates of deposit by $154.0 million[243]. - Brokered deposits increased from $661.5 million at December 31, 2023, to $810.4 million at September 30, 2024, indicating a strategic move to supplement funding channels[209]. - Cash and cash equivalents decreased by $3.0 million, or 1.4%, to $208.4 million as of September 30, 2024[237]. Credit Quality and Allowance for Credit Losses - The allowance for credit losses as a percentage of total loans was 1.36% at September 30, 2024, compared to 1.39% at December 31, 2023[290]. - Non-performing assets decreased to $7.7 million at September 30, 2024, from $11.8 million at December 31, 2023, representing 0.13% of total assets[292]. - Non-performing loans decreased by $4.3 million to $7.5 million at September 30, 2024, primarily due to a $4.4 million decrease in non-performing commercial real estate loans[293]. - The company considers the allowance for credit losses adequate based on recent reviews of the loan portfolio and current economic conditions[290]. - Loans classified as "Watch" increased by $890,000, from $8.3 million at December 31, 2023, to $9.2 million at September 30, 2024[301]. Economic Environment - The Federal Reserve raised the federal funds interest rates to over 5.50%, the highest level in 22 years, in response to surging inflation, which peaked at 7.1% in June 2022 and eased to 2.9% by December 2023[174]. - Real GDP is projected to rise by 2.7% in 2024, driven by higher consumer spending and business investment[175]. - The national unemployment rate remained stable at 4.1% in September 2024, with 6.8 million unemployed individuals and 254,000 jobs added in the month[176]. - Existing-home sales decreased by 1.0% in September 2024 to an annual rate of 3.84 million, down 3.5% from the previous year[178]. - The median existing-home sales price rose by 3.0% year-over-year to $404,500, marking the 15th consecutive month of price increases[179]. Stockholder Equity and Dividends - The Company's total stockholders' equity increased to $612.1 million, or 10.1% of total assets, from $571.8 million, or 9.8% of total assets, as of December 31, 2023[331]. - The Company declared a common stock cash dividend of $0.40 per share for the three months ended September 30, 2024, representing 28% of net income per diluted common share[341]. - The Company declared common stock cash dividends totaling $1.20 per share for the nine months ended September 30, 2024, representing 30% of net income per diluted common share[341]. - During the nine months ended September 30, 2024, the Company repurchased 239,933 shares of its common stock at an average price of $51.69 per share[342]. - The Company has approximately 488,000 shares remaining available for repurchase under its stock repurchase authorization as of September 30, 2024[343].

Great Southern Bancorp (GSBC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the sy ...

Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q3 2024 Earnings Conference Call October 17, 2024 3:00 PM ET Company Participants Zack Mukewa - Investor Relations Joseph Turner - President and Chief Executive Officer Rex Copeland - Senior Vice President and Chief Financial Officer Conference Call Participants Andrew Liesch - Piper Sandler & Co. Damon DelMonte - Keefe, Bruyette, & Woods, Inc. John Rodis - Janney Montgomery Scott LLC Operator Good day and thank you for standing by. Welcome to the Great Southern Ba ...

EXHIBIT 99.1 Great Southern Bancorp, Inc. Reports Preliminary Third Quarter Earnings of $1.41 Per Diluted Common Share Preliminary Financial Results and Business Update for the Quarter and Nine Months Ended September 30, 2024 SPRINGFIELD, Mo., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, today reported that preliminary earnings for the three months ended September 30, 2024, were $1.41 per diluted common share ($16.5 million net in ...

Great Southern Bancorp (GSBC) reported $54.97 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.7%. EPS of $1.41 for the same period compares to $1.33 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $54.75 million, representing a surprise of +0.41%. The company delivered an EPS surprise of +11.90%, with the consensus EPS estimate being $1.26. While investors scrutinize revenue and earnings changes year-over-year and how they com ...

Great Southern Bancorp (GSBC) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 11.90%. A quarter ago, it was expected that this bank holding company would post earnings of $1.20 per share when it actually produced earnings of $1.45, delivering a surprise of 20.83%. Over the last four ...

Wall Street analysts forecast that Great Southern Bancorp (GSBC) will report quarterly earnings of $1.26 per share in its upcoming release, pointing to a year-over-year decline of 5.3%. It is anticipated that revenues will amount to $54.75 million, exhibiting an increase of 0.3% compared to the year-ago quarter. The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-18082 GREAT SOUTHERN BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 43-1524856 (State or other jurisdiction of incorporation or organization) (I.R.S ...