Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q2 2023 Earnings Conference Call July 20, 2023 3:00 PM ET Company Participants Kelly Polonus - 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. Operator Good day, and thank you for standing by. Welcome to the Great Southern Bancorp Second Quarter 2023 Earnings Call. ...

FORM 10-Q Cover Page [Registrant Information](index=1&type=section&id=Registrant%20Information) This section provides key identifying information for Great Southern Bancorp, Inc., including its SEC filing status, stock trading symbol, and shares outstanding as of May 4, 2023 - Great Southern Bancorp, Inc. is an **accelerated filer** and has filed all required reports during the preceding 12 months[4](index=4&type=chunk)[5](index=5&type=chunk) | Metric | Value | | :--- | :--- | | Trading Symbol | GSBC | | Exchange | The NASDAQ Stock Market LLC | | Shares Outstanding (May 4, 2023) | 12,043,886 | | Filer Status | Accelerated filer | PART I FINANCIAL INFORMATION [ITEM 1. FINANCIAL STATEMENTS.](index=2&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS.) This section presents the unaudited consolidated financial statements of Great Southern Bancorp, Inc. and its subsidiaries for the quarter ended March 31, 2023, including statements of financial condition, income, comprehensive income, stockholders' equity, and cash flows, along with detailed notes explaining the basis of presentation, accounting policies, and specific financial line items [Consolidated Statements of Financial Condition](index=2&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) The Company's total assets increased by **$88.0 million** to **$5.77 billion** at March 31, 2023, primarily driven by increases in loans receivable and interest-bearing deposits, while total liabilities and stockholders' equity also increased | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Assets | $5,768,720 | $5,680,702 | | Cash and cash equivalents | $184,676 | $168,520 | | Loans receivable, net | $4,569,328 | $4,506,836 | | Total Liabilities | $5,213,209 | $5,147,615 | | Deposits | $4,799,107 | $4,684,910 | | Total Stockholders' Equity | $555,511 | $533,087 | - Total Assets increased by **$88.0 million (1.5%)** from December 31, 2022, to March 31, 2023[8](index=8&type=chunk) - Loans receivable, net, increased by **$62.5 million (1.4%)** from December 31, 2022, to March 31, 2023[8](index=8&type=chunk) [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) Net income for the three months ended March 31, 2023, increased by **20.4%** year-over-year to **$20.5 million**, primarily driven by a significant rise in net interest income, despite increases in provision for credit losses and non-interest expenses | Metric (In Thousands, Except Per Share Data) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Total Interest Income | $71,463 | $46,673 | | Total Interest Expense | $18,271 | $3,407 | | Net Interest Income | $53,192 | $43,266 | | Provision for Credit Losses on Loans | $1,500 | $— | | Total Non-Interest Income | $7,889 | $9,176 | | Total Non-Interest Expense | $34,463 | $31,268 | | Net Income | $20,456 | $16,987 | | Basic Earnings Per Common Share | $1.68 | $1.31 | | Diluted Earnings Per Common Share | $1.67 | $1.30 | | Dividends Declared Per Common Share | $0.40 | $0.36 | - Net Income increased by **$3.5 million (20.4%)** year-over-year[10](index=10&type=chunk) - Net Interest Income increased by **$9.9 million (22.9%)** year-over-year[10](index=10&type=chunk) [Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income for the three months ended March 31, 2023, was **$32.4 million**, a significant improvement from a comprehensive loss of **$7.1 million** in the prior-year period, primarily due to unrealized appreciation on available-for-sale securities and changes in the value of active cash flow hedges | Metric (In Thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net Income | $20,456 | $16,987 | | Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes | $6,915 | $(20,200) | | Change in value of active cash flow hedges, net of taxes | $6,575 | $(3,083) | | Comprehensive Income (Loss) | $32,383 | $(7,089) | - Comprehensive Income (Loss) improved from a loss of **$7.1 million** in Q1 2022 to an income of **$32.4 million** in Q1 2023[12](index=12&type=chunk) [Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity increased by **$22.4 million** to **$555.5 million** at March 31, 2023, driven by net income, stock option exercises, and a decrease in accumulated other comprehensive loss, partially offset by common stock repurchases and dividends | Metric (In Thousands) | March 31, 2023 | January 1, 2023 | | :--- | :--- | :--- | | Total Stockholders' Equity | $555,511 | $533,087 | | Net income | $20,456 | N/A | | Stock issued under Stock Option Plan | $470 | N/A | | Common cash dividends declared | $(4,854) | N/A | | Purchase of the Company's common stock | $(5,575) | N/A | | Accumulated Other Comprehensive Income (Loss) | $(41,428) | $(53,355) | - Total Stockholders' Equity increased by **$22.4 million** from January 1, 2023, to March 31, 2023[13](index=13&type=chunk) - Accumulated Other Comprehensive Income (Loss) improved from **$(53,355) thousand** to **$(41,428) thousand**[13](index=13&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents increased by **$16.2 million** to **$184.7 million** at March 31, 2023, with operating activities providing **$5.4 million**, investing activities using **$53.4 million**, and financing activities providing **$64.1 million**, a significant shift from the prior year's negative financing cash flow | Metric (In Thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,442 | $31,389 | | Net cash used in investing activities | $(53,408) | $(318,443) | | Net cash provided by (used in) financing activities | $64,122 | $(77,175) | | Increase (Decrease) in Cash and Cash Equivalents | $16,156 | $(364,229) | | Cash and Cash Equivalents, End of Period | $184,676 | $353,038 | - Cash and cash equivalents increased by **$16.2 million** in Q1 2023, a reversal from a **$364.2 million** decrease in Q1 2022[16](index=16&type=chunk) - Financing activities provided **$64.1 million** in cash in Q1 2023, compared to using **$77.2 million** in Q1 2022[16](index=16&type=chunk) [NOTES TO CONSOLIDATED FINANCIAL STATEMENTS](index=7&type=section&id=NOTES%20TO%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) These notes provide detailed disclosures on the Company's financial statements, covering accounting policies, segment information, recent accounting pronouncements, earnings per share, investment securities, loans and credit losses, FDIC-assisted acquisitions, real estate owned, premises and equipment, deposits, borrowings, income taxes, fair value measurements, and derivative activities [NOTE 1: BASIS OF PRESENTATION](index=7&type=section&id=NOTE%201%3A%20BASIS%20OF%20PRESENTATION) The unaudited interim consolidated financial statements are prepared in accordance with GAAP for interim financial information and SEC regulations, reflecting normal recurring adjustments, and should be read in conjunction with the Company's 2022 Annual Report on Form 10-K - Financial statements are unaudited and prepared in accordance with GAAP for interim financial information and SEC Form 10-Q instructions[18](index=18&type=chunk) - Operating results for the three months ended March 31, 2023, are not necessarily indicative of full-year results[18](index=18&type=chunk) [NOTE 2: NATURE OF OPERATIONS AND OPERATING SEGMENTS](index=7&type=section&id=NOTE%202%3A%20NATURE%20OF%20OPERATIONS%20AND%20OPERATING%20SEGMENTS) Great Southern Bancorp, Inc. operates as a one-bank holding company, with Great Southern Bank providing financial services primarily in the Midwest and originating commercial loans from various lending offices, and the banking operation is the Company's sole reportable segment - The Company operates as a one-bank holding company, with Great Southern Bank as its **primary operation**[20](index=20&type=chunk) - The Bank provides financial services in Missouri, Iowa, Kansas, Minnesota, Nebraska, and Arkansas, and originates commercial loans from offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, Phoenix, and Tulsa[20](index=20&type=chunk) - The banking operation is the Company's only **sole reportable segment**, engaged in originating various loans and funding them through deposits and borrowings[21](index=21&type=chunk) [NOTE 3: RECENT ACCOUNTING PRONOUNCEMENTS](index=7&type=section&id=NOTE%203%3A%20RECENT%20ACCOUNTING%20PRONOUNCEMENTS) This note details recent FASB Accounting Standards Updates (ASUs) related to Reference Rate Reform (ASU 2020-04, 2021-01, 2022-06), Derivatives and Hedging (ASU 2022-01), and Financial Instruments – Credit Losses (ASU 2022-02), most of which have not had a material impact on the Company's financial statements, though ASU 2022-02 required changes in disclosures for loan modifications - ASU 2020-04, 2021-01, and 2022-06 (Reference Rate Reform) provide optional expedients for contracts and hedging relationships affected by LIBOR discontinuation, extended through December 31, 2024, with **no material impact** on financial statements[22](index=22&type=chunk)[23](index=23&type=chunk)[25](index=25&type=chunk)[28](index=28&type=chunk) - ASU 2022-01 (Derivatives and Hedging) expands the portfolio layer method for fair value hedging, effective January 1, 2023, with **no material impact** on financial statements[26](index=26&type=chunk) - ASU 2022-02 (Financial Instruments – Credit Losses) eliminates troubled debt restructuring guidance and enhances disclosures for loan modifications to borrowers experiencing financial difficulty, effective January 1, 2023, with **no material impact** on financial statements, but **required disclosure changes**[27](index=27&type=chunk) [NOTE 4: EARNINGS PER SHARE](index=9&type=section&id=NOTE%204%3A%20EARNINGS%20PER%20SHARE) Basic and diluted earnings per common share increased year-over-year for the three months ended March 31, 2023, reflecting higher net income, with the number of dilutive stock options decreasing, while a significant number of options were excluded from diluted EPS calculation due to exercise prices exceeding market prices | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Basic Earnings Per Common Share | $1.68 | $1.31 | | Diluted Earnings Per Common Share | $1.67 | $1.30 | | Average common shares outstanding (Basic) | 12,201 | 12,971 | | Diluted common shares | 12,271 | 13,088 | - Basic EPS increased by **$0.37 (28.2%)** and Diluted EPS increased by **$0.37 (28.5%)** year-over-year[29](index=29&type=chunk) - Options to purchase **672,368 shares (2023)** and **376,237 shares (2022)** were excluded from diluted EPS calculation as their exercise prices were greater than average market prices[29](index=29&type=chunk) [NOTE 5: INVESTMENT SECURITIES](index=9&type=section&id=NOTE%205%3A%20INVESTMENT%20SECURITIES) The Company holds both available-for-sale (AFS) and held-to-maturity (HTM) securities; AFS securities are carried at fair value with unrealized gains/losses in equity, while HTM securities are at amortized cost, and both portfolios showed significant unrealized losses at March 31, 2023, primarily in mortgage-backed and collateralized mortgage obligations, which management believes are temporary, with no allowance for credit losses recorded for these securities - AFS securities are carried at fair value, with unrealized gains/losses recorded in stockholders' equity[30](index=30&type=chunk)[32](index=32&type=chunk) - HTM securities are carried at amortized cost[30](index=30&type=chunk)[32](index=32&type=chunk) | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | AFS Securities Fair Value | $493,330 | $490,592 | | AFS Gross Unrealized Losses | $53,961 | $62,741 | | HTM Securities Amortized Cost | $200,427 | $202,495 | | HTM Securities Fair Value | $179,853 | $177,765 | | HTM Gross Unrealized Losses | $20,574 | $24,730 | - A high percentage of unrealized losses in both AFS and HTM portfolios are related to U.S. government-sponsored mortgage-backed, collateralized mortgage, and SBA securities; management believes these declines are **temporary**[35](index=35&type=chunk)[36](index=36&type=chunk) - **No allowance for credit losses** has been recorded for any securities, as they are issued by U.S. government-sponsored entities or are highly-rated municipal bonds with no historical credit losses[39](index=39&type=chunk)[40](index=40&type=chunk) [NOTE 6: LOANS AND ALLOWANCE FOR CREDIT LOSSES](index=14&type=section&id=NOTE%206%3A%20LOANS%20AND%20ALLOWANCE%20FOR%20CREDIT%20LOSSES) The Company adopted ASU 2016-13 (CECL) for credit loss measurement, using historical loss rates adjusted for current conditions and forecasts; loans receivable increased to **$4.64 billion** at March 31, 2023, with a corresponding increase in the allowance for credit losses, while non-accruing loans decreased and loan modifications were disclosed - The allowance for credit losses is measured using an **average historical loss model** under CECL, incorporating past events, current conditions, and reasonable and supportable forecasts[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk) | Loan Class (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Loans Receivable | $4,644,650 | $4,581,381 | | Allowance for credit losses | $(64,987) | $(63,480) | | Loans receivable, net | $4,569,328 | $4,506,836 | | Weighted average interest rate | 5.81% | 5.54% | - Non-accruing loans decreased from **$3.67 million** at December 31, 2022, to **$2.98 million** at March 31, 2023[49](index=49&type=chunk) | Allowance for Credit Losses (In Thousands) | Balance, Jan 1, 2023 | Provision (credit) | Losses charged off | Recoveries | Balance, Mar 31, 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total | $63,480 | $1,500 | $(465) | $472 | $64,987 | - Loan modifications for borrowers experiencing financial difficulty totaled **$44.3 million** in amortized cost basis at March 31, 2023, **primarily through term extensions and combinations**[58](index=58&type=chunk) [NOTE 7: FDIC-ASSISTED ACQUIRED LOANS](index=25&type=section&id=NOTE%207%3A%20FDIC-ASSISTED%20ACQUIRED%20LOANS) This note outlines the Company's past acquisitions of loans and assets through FDIC-assisted transactions, with related loss-sharing agreements now terminated, and the carrying value of these acquired loans has decreased from December 31, 2022, to March 31, 2023 - Great Southern Bank acquired assets from several banks (TeamBank, Vantus Bank, Sun Security Bank, Inter Savings Bank, Valley Bank) through FDIC-assisted transactions between 2009 and 2014[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) - Loss-sharing agreements related to these acquisitions were **terminated early by mutual agreement** with the FDIC[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) | Acquired Loans (In Thousands) | March 31, 2023 (Carrying Value) | December 31, 2022 (Carrying Value) | | :--- | :--- | :--- | | TeamBank | $2,617 | $2,703 | | Vantus Bank | $3,638 | $3,983 | | Sun Security Bank | $6,874 | $7,221 | | InterBank | $23,099 | $24,402 | | Valley Bank | $12,426 | $12,750 | [NOTE 8: OTHER REAL ESTATE OWNED AND REPOSSESSIONS](index=26&type=section&id=NOTE%208%3A%20OTHER%20REAL%20ESTATE%20OWNED%20AND%20REPOSSESSIONS) Other real estate owned (OREO) and repossessions decreased to **$154,000** at March 31, 2023, primarily consisting of properties not acquired through foreclosure and consumer repossessions, with related expenses including valuation write-downs and operating expenses | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Foreclosed assets held for sale and repossessions | $45 | $50 | | Other real estate owned not acquired through foreclosure | $109 | $183 | | Total OREO and Repossessions | $154 | $233 | - OREO not acquired through foreclosure included two closed branch locations held for sale[81](index=81&type=chunk) | Expenses (In Thousands) | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net loss (gains) on sales | $3 | $(6) | | Valuation write-downs | $74 | $15 | | Operating expenses, net of rental income | $77 | $154 | | Total Expenses | $154 | $163 | [NOTE 9: PREMISES AND EQUIPMENT](index=26&type=section&id=NOTE%209%3A%20PREMISES%20AND%20EQUIPMENT) Net premises and equipment increased slightly to **$141.5 million** at March 31, 2023, with operating lease right-of-use assets and liabilities remaining stable, and lease expense of **$411,000** for the quarter with a **7.4 years** weighted-average lease term | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Land | $39,617 | $39,622 | | Buildings and improvements | $105,572 | $105,096 | | Furniture, fixtures and equipment | $68,493 | $67,505 | | Operating leases right of use asset | $7,452 | $7,397 | | Less: accumulated depreciation | $(79,649) | $(78,550) | | Net Premises and Equipment | $141,485 | $141,070 | - Operating lease right-of-use asset was **$7.5 million** and corresponding lease liability was **$7.7 million** at March 31, 2023[85](index=85&type=chunk) - Lease expense for the three months ended March 31, 2023, was **$411,000**, with a weighted-average lease term of **7.4 years**[86](index=86&type=chunk) [NOTE 10: DEPOSITS](index=28&type=section&id=NOTE%2010%3A%20DEPOSITS) Total deposits increased by **$114.2 million** to **$4.80 billion** at March 31, 2023, primarily driven by brokered deposits and interest-bearing demand/savings deposits, while non-interest-bearing demand deposits decreased and the weighted average rate on total deposits increased significantly | Deposit Type (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Time Deposits | $1,036,228 | $1,021,296 | | Non-interest-bearing demand deposits | $991,527 | $1,063,588 | | Interest-bearing demand and savings deposits | $2,234,323 | $2,188,535 | | Brokered deposits | $537,029 | $411,491 | | Total Deposits | $4,799,107 | $4,684,910 | | Weighted average rate (Total time deposits) | 2.31% | 1.93% | | Weighted average rate (Interest-bearing demand and savings) | 1.09% | 0.65% | | Weighted average rate (Brokered deposits) | 4.69% | 4.03% | - Total deposits increased by **$114.2 million (2.4%)** from December 31, 2022, to March 31, 2023[89](index=89&type=chunk) - Brokered deposits increased by **$125.5 million**, representing approximately **11.2%** of total deposits at March 31, 2023[89](index=89&type=chunk) - Approximately **14%** of total deposits were uninsured at March 31, 2023[89](index=89&type=chunk) [NOTE 11: ADVANCES FROM FEDERAL HOME LOAN BANK](index=28&type=section&id=NOTE%2011%3A%20ADVANCES%20FROM%20FEDERAL%20HOME%20LOAN%20BANK) The Company had no outstanding term advances from the Federal Home Loan Bank (FHLBank) at March 31, 2023, or December 31, 2022, but overnight borrowings from FHLBank were outstanding and included in short-term borrowings - **No outstanding term advances** from FHLBank at March 31, 2023, or December 31, 2022[90](index=90&type=chunk) - Overnight borrowings from FHLBank were outstanding and classified under short-term borrowings[90](index=90&type=chunk) [NOTE 12: SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS](index=28&type=section&id=NOTE%2012%3A%20SECURITIES%20SOLD%20UNDER%20REVERSE%20REPURCHASE%20AGREEMENTS%20AND%20SHORT-TERM%20BORROWINGS) Securities sold under reverse repurchase agreements decreased significantly to **$70.7 million** at March 31, 2023, while overnight borrowings from FHLBank increased to **$154.5 million**, contributing to a total of **$226.4 million** in these liabilities | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Securities sold under reverse repurchase agreements | $70,654 | $176,843 | | Overnight borrowings from the Federal Home Loan Bank | $154,500 | $88,500 | | Total (including Notes payable – Community Development Equity Funds) | $226,364 | $266,426 | - Securities sold under reverse repurchase agreements decreased by **$106.2 million (60.1%)** from December 31, 2022, to March 31, 2023[91](index=91&type=chunk) - Overnight borrowings from FHLBank increased by **$66.0 million (74.6%)** over the same period[91](index=91&type=chunk) [NOTE 13: SUBORDINATED NOTES](index=29&type=section&id=NOTE%2013%3A%20SUBORDINATED%20NOTES) The Company has **$75.0 million** in subordinated notes due June 15, 2030, with a fixed interest rate of **5.50%** until June 15, 2025, then floating, and an imputed interest rate of **5.95%** for Q1 2023 due to amortized debt issuance costs - The Company issued **$75.0 million** of subordinated notes due June 15, 2030, with a fixed rate of **5.50%** until June 15, 2025, then floating[94](index=94&type=chunk) - Debt issuance costs of approximately **$1.5 million** are amortized over five years, resulting in an imputed interest rate of **5.95%** for Q1 2023[94](index=94&type=chunk)[95](index=95&type=chunk) | Metric (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Subordinated notes | $75,000 | $75,000 | | Less: unamortized debt issuance costs | $(644) | $(719) | | Net Subordinated notes | $74,356 | $74,281 | [NOTE 14: INCOME TAXES](index=29&type=section&id=NOTE%2014%3A%20INCOME%20TAXES) The Company's effective tax rate for Q1 2023 was **21.2%**, slightly above the statutory federal rate due to state taxes and other factors, partially offset by non-taxable interest and tax credits, while a formal protest regarding a **$4.0 million** tax obligation for 2014 and 2015 is ongoing | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Tax at statutory rate | 21.0% | 21.0% | | Nontaxable interest and dividends | (0.5)% | (0.4)% | | Tax credits | (2.2)% | (1.7)% | | State taxes | 1.7% | 1.5% | | Other | 1.2% | 0.1% | | Effective tax rate | 21.2% | 20.5% | - The Company is defending a formal protest with the Missouri Administrative Hearing Commission regarding a potential **$4.0 million** tax obligation for 2014 and 2015, plus additional amounts for subsequent years[98](index=98&type=chunk) [NOTE 15: DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS](index=30&type=section&id=NOTE%2015%3A%20DISCLOSURES%20ABOUT%20FAIR%20VALUE%20OF%20FINANCIAL%20INSTRUMENTS) This note details fair value measurements of financial instruments categorized into a three-level hierarchy, with recurring measurements for available-for-sale securities and interest rate derivatives primarily **Level 2**, and nonrecurring measurements for collateral-dependent loans classified as **Level 3** - Fair value measurements are categorized into Level 1 (quoted prices in active markets), Level 2 (other observable inputs), and Level 3 (significant unobservable inputs)[99](index=99&type=chunk)[101](index=101&type=chunk) | Recurring Fair Value Measurements (In Thousands) | March 31, 2023 (Fair Value) | Level | | :--- | :--- | :--- | | Available-for-sale securities | $493,330 | Level 2 | | Interest rate derivative asset | $9,992 | Level 2 | | Interest rate derivative liability | $(31,469) | Level 2 | - Collateral-dependent loans are measured on a nonrecurring basis and classified as **Level 3**, with a fair value of **$194 thousand** at March 31, 2023[105](index=105&type=chunk)[107](index=107&type=chunk) | Financial Instrument (In Thousands) | March 31, 2023 (Carrying Amount) | March 31, 2023 (Fair Value) | Hierarchy Level | | :--- | :--- | :--- | :--- | | Loans, net of allowance for credit losses | $4,569,328 | $4,440,904 | 3 | | Deposits | $4,799,107 | $4,784,469 | 3 | | Subordinated notes | $74,356 | $70,500 | 2 | [NOTE 16: DERIVATIVES AND HEDGING ACTIVITIES](index=33&type=section&id=NOTE%2016%3A%20DERIVATIVES%20AND%20HEDGING%20ACTIVITIES) The Company uses derivative financial instruments, primarily interest rate swaps, for risk management, including nondesignated hedges, fair value hedges for fixed-rate brokered deposits, and cash flow hedges for floating-rate loans, with fair value changes recognized in earnings or AOCI - The Company uses interest rate swaps for interest rate risk management, including nondesignated hedges for customer services and designated fair value/cash flow hedges[119](index=119&type=chunk)[120](index=120&type=chunk) - Nondesignated hedges (back-to-back swaps) resulted in net losses of **$291,000** in Q1 2023, recognized directly in non-interest income[121](index=121&type=chunk) - A new fair value hedge was entered in February 2023 (**$95 million** notional) to hedge fixed-rate brokered deposits, receiving fixed **4.65%** and paying floating USD-SOFR-COMPOUND plus spread[122](index=122&type=chunk) - Cash flow hedges for floating-rate loans include a terminated **$400 million** swap (accreting **$2.0 million** interest income in Q1 2023) and active swaps totaling **$700 million** notional (resulting in negative loan interest income of **$2.2 million** in Q1 2023)[124](index=124&type=chunk)[125](index=125&type=chunk)[127](index=127&type=chunk) | Derivative Fair Value (In Thousands) | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Active interest rate swap (Liability) | $22,557 | $31,277 | | Interest rate products (Asset) | $9,992 | $11,061 | | Interest rate products (Liability) | $8,912 | $10,820 | [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=39&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) This section provides management's perspective on the Company's financial condition and results of operations for the three months ended March 31, 2023, compared to the prior year, covering critical accounting policies, economic conditions, business initiatives, detailed financial comparisons, liquidity, capital resources, and non-GAAP financial measures, highlighting key drivers of performance and future outlook [Forward-looking Statements](index=39&type=section&id=Forward-looking%20Statements) This section identifies forward-looking statements within the report, cautioning readers that actual results may differ materially due to various factors, including economic conditions, interest rate fluctuations, credit risks, regulatory changes, and competition, and the Company disclaims any obligation to update these statements - Statements using words like 'may,' 'might,' 'could,' 'should,' 'will likely result,' 'are expected to,' 'will continue,' 'is anticipated,' 'believe,' 'estimate,' 'project,' 'intends' are forward-looking[134](index=134&type=chunk) - Actual results could differ materially due to factors such as economic conditions, interest rate fluctuations, credit risks, regulatory changes, cyber-attacks, and competition[135](index=135&type=chunk) - The Company does not undertake to publicly release revisions to forward-looking statements[136](index=136&type=chunk) [Critical Accounting Policies, Judgments and Estimates](index=39&type=section&id=Critical%20Accounting%20Policies,%20Judgments%20and%20Estimates) This section highlights the Company's critical accounting policies, particularly the allowance for credit losses (ACL) and the valuation of foreclosed assets, which involve significant management judgment and estimates, and also discusses the impairment testing for goodwill and intangible assets - The determination of the allowance for credit losses (ACL) involves a high degree of judgment and complexity, aiming to absorb estimated credit losses[138](index=138&type=chunk) - ACL is measured using an **average historical loss model**, adjusted for current conditions and reasonable and supportable forecasts of macroeconomic variables (e.g., unemployment, GDP)[140](index=140&type=chunk)[141](index=141&type=chunk) - Goodwill and intangible assets are tested for impairment annually or more frequently if circumstances indicate value may not be recoverable, using a market approach for valuation[145](index=145&type=chunk)[149](index=149&type=chunk) - Management does not believe any goodwill or other intangible assets were impaired as of March 31, 2023[150](index=150&type=chunk) [Current Economic Conditions](index=43&type=section&id=Current%20Economic%20Conditions) This section provides an overview of the current economic landscape, including the Federal Reserve's aggressive monetary tightening to combat high inflation, resilient job growth, and the impact on housing and commercial real estate markets, noting slowing rent growth in multi-family housing and declining demand for office space, while retail and industrial markets show resilience - The Federal Reserve continues aggressive monetary tightening, increasing the fed funds rate to **5.00%** by March 31, 2023, to combat high inflation[159](index=159&type=chunk)[210](index=210&type=chunk) - The national unemployment rate remained at **3.5%** in March 2023, with total employment increasing by **236,000**[163](index=163&type=chunk) - New single-family home sales increased **9.6%** in March 2023 (YoY decrease of **3.4%**), with the median price at **$449,800**; existing-home sales fell **2.4%** nationally (YoY decrease of **22.0%**)[167](index=167&type=chunk)[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) - Multi-family housing experienced slowing rent growth (**2.2%** at March 2023) and increased national vacancy rates (**6.7%**) due to supply outpacing demand[173](index=173&type=chunk)[175](index=175&type=chunk) - Office market demand continues to decline, pushing vacancy to a record **12.9%** nationally, while retail (**4.2%** vacancy) and industrial (**4.5%** vacancy) markets show resilience despite slowing growth[182](index=182&type=chunk)[186](index=186&type=chunk)[189](index=189&type=chunk) [COVID-19 Impact to Our Business and Response](index=49&type=section&id=COVID-19%20Impact%20to%20Our%20Business%20and%20Response) The Company continues to monitor and respond to the effects of the COVID-19 pandemic, prioritizing customer and associate safety, with current infection rates low, business operations returned to normal, most restrictions relaxed, and the Company remaining prepared for future challenges - Great Southern continues to monitor and respond to COVID-19 effects, prioritizing health, safety, and uninterrupted service[191](index=191&type=chunk) - Current COVID-19 infection rates are relatively low in the Company's markets, and most restrictions have been relaxed[193](index=193&type=chunk) - Business operations are currently normal, similar to pre-pandemic levels, but the Company remains prepared for future challenges[193](index=193&type=chunk) [General (MD&A Overview)](index=51&type=section&id=General%20(MD%26A%20Overview)) The Company's profitability is primarily driven by net interest income, credit loss provisions, non-interest income, and non-interest expenses, with total assets increasing by **$88.0 million** to **$5.77 billion** and net outstanding loans growing by **$62.5 million** - Profitability depends primarily on net interest income, provisions for credit losses, and the level of non-interest income and expense[194](index=194&type=chunk) - Total assets increased **$88.0 million (1.5%)** to **$5.77 billion** at March 31, 2023[195](index=195&type=chunk) - Net outstanding loans increased **$62.5 million (1.4%)** to **$4.57 billion**, primarily in other residential (multi-family) and commercial real estate loans[195](index=195&type=chunk) [Comparison of Financial Condition at March 31, 2023 and December 31, 2022](index=60&type=section&id=Comparison%20of%20Financial%20Condition%20at%20March%2031,%202023%20and%20December%2031,%202022) The Company's total assets increased by **$88.0 million** to **$5.77 billion**, driven by growth in loans and interest-bearing deposits, while total liabilities rose due to increased brokered deposits and FHLBank borrowings, and stockholders' equity improved from net income and a decrease in accumulated other comprehensive loss - Total assets increased by **$88.0 million** to **$5.77 billion**, primarily from loans and interest-bearing deposits[230](index=230&type=chunk) - Net loans increased **$62.5 million** to **$4.57 billion**, with **significant growth in other residential (multi-family) and commercial real estate loans, partially offset by a decrease in commercial construction loans**[233](index=233&type=chunk) - Total deposits increased **$114.2 million (2.4%)** to **$4.80 billion**, with brokered deposits rising **$125.5 million**[235](index=235&type=chunk) - Total stockholders' equity increased **$22.4 million** to **$555.5 million**, **benefiting from net income and a decrease in accumulated other comprehensive loss**[239](index=239&type=chunk) [Results of Operations and Comparison for the Three Months Ended March 31, 2023 and 2022](index=62&type=section&id=Results%20of%20Operations%20and%20Comparison%20for%20the%20Three%20Months%20Ended%20March%2031,%202023%20and%202022) Net income increased by **20.4%** to **$20.5 million**, primarily due to a **$9.9 million** increase in net interest income driven by higher interest income on loans and investments, partially offset by a significant rise in interest expense and increased non-interest expenses - Net income increased by **$3.5 million (20.4%)** to **$20.5 million**[240](index=240&type=chunk) - Net interest income increased **$9.9 million (22.9%)** to **$53.2 million**[240](index=240&type=chunk) - Total interest income increased **$24.8 million (53.1%)** **due to higher average balances and rates on loans and investments**[241](index=241&type=chunk) - Total interest expense increased **$14.9 million (436.3%)** **due to higher interest expense on deposits and short-term borrowings**[250](index=25

Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q1 2023 Earnings Conference Call April 20, 2023 3:00 PM ET Company Participants Kelly Polonus - IR Joe Turner - President & CEO Rex Copeland - CFO Conference Call Participants Andrew Liesch - Piper Sandler Damon DelMonte - KBW Operator Good day, and thank you for standing by. Welcome to the Great Southern Bancorp, Inc. First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the presentation, there will be a question-and-ans ...

Financial Position and Assets - Total consolidated assets of Bancorp were $5.68 billion, with net loans of $4.51 billion, deposits of $4.68 billion, and total stockholders' equity of $533.1 million as of December 31, 2022[9] - Great Southern Bank had total assets of $5.68 billion, net loans of $4.51 billion, deposits of $4.71 billion, and equity capital of $608.4 million (10.7% of total assets) as of December 31, 2022[12] - Total loans receivable, net increased to $4,511,647 thousand in 2022 from $4,016,235 thousand in 2021, reflecting growth in the loan portfolio[54] - Total loans receivable as of December 31, 2021, amounted to $4,077,552 thousand, with total past due loans of $8,130 thousand[104] - FDIC-assisted acquired loans included in the total loans receivable amounted to $74,170 thousand as of December 31, 2021[104] Loan Portfolio Composition - Commercial real estate loans accounted for 34% of the total outstanding portfolio, while other residential (multi-family) and multi-family and commercial construction loans each accounted for 17% at December 31, 2022[42] - One- to four-family residential loans accounted for approximately 20% of the total outstanding portfolio at December 31, 2022[42] - Loans secured by second liens on residential properties were $82.3 million, or 1.8%, of the total loan portfolio at December 31, 2022[45] - Total real estate loans accounted for 89.4% of the total loan portfolio at December 31, 2022, with one- to four-family residential loans making up 19.8%[50] - Consumer loans accounted for 4.2% of the total loan portfolio at December 31, 2022, with home equity and improvement loans making up 2.7%[50] - Residential real estate loans totaled $1.7 billion in 2022, representing 36.8% of the total loan portfolio, up from $1.4 billion (34.0%) in 2021[63] - The one- to four-family residential real estate loan portfolio increased in 2022 due to organic growth, with a significant portion of new originations being adjustable-rate loans[63] - Other residential (multi-family) loan portfolio increased by approximately 12.0% in 2022, partly due to slower refinancings and early pay-offs as interest rates rose[63] - Commercial real estate loans stabilized and diversified, with the portfolio composition shifting away from speculative construction and land development loans[60] - Consumer lending for automobiles and boats decreased significantly, with indirect automobile and boat lending being eliminated[60] - Loans secured by commercial real estate totaled $1.5 billion at December 31, 2022, representing 33.7% of the total loan portfolio, while construction loans aggregated $865.2 million, or 18.9% of the portfolio[67] - The Bank's commercial real estate and construction loan portfolios include diverse collateral types, with retail projects, warehouses, and healthcare facilities being the top three, representing 7.2%, 6.7%, and 6.2% of the total loan portfolio, respectively[71] - Other commercial loans outstanding totaled $293 million at December 31, 2022, representing 6.4% of the total loan portfolio[74] - Consumer loans totaled $194 million at December 31, 2022, or 4.2% of the total loan portfolio, with secured loans including automobile, boat, and home equity loans[80] - The Bank had $70.2 million in direct and indirect auto, boat, modular home, and recreational vehicle loans at December 31, 2022, with indirect consumer loans totaling $16 million[84] - Consumer loans carry higher risk due to potential depreciation of collateral and borrower financial instability, limiting recovery amounts[85] Loan Performance and Credit Quality - The allowance for credit losses was $63.48 million at December 31, 2022, compared to $60.75 million at December 31, 2021[50] - Total past due loans as of December 31, 2022, amounted to $7.775 million, with $3.394 million in 30-59 days past due, $711,000 in 60-89 days past due, and $3.670 million over 90 days past due[102] - FDIC-assisted acquired loans included $685,000 in past due amounts and $57.923 million in current amounts as of December 31, 2022[102] - Non-performing assets as of December 31, 2022, totaled $3,720 thousand, representing 0.07% of average total assets[112] - Gross collateral-dependent loans decreased from $5.2 million in 2021 to $4.5 million in 2022[114] - Total classified assets as of December 31, 2022, were $5,296 thousand, with an allowance for losses of $245 thousand[106] - Non-accruing loans as of December 31, 2022, totaled $3,670 thousand, a decrease from $5,423 thousand in 2021[112] - Gross interest income that would have been recorded on non-accruing loans in 2022 was $292,000, down from $432,000 in 2021[115] - Total foreclosed assets as of December 31, 2022, were $50 thousand, a significant decrease from $498 thousand in 2021[112] - Loans classified as "substandard" increased from $4,666 thousand in 2021 to $5,246 thousand in 2022[106][108] - Total gross non-performing loans decreased from $5,423 thousand in 2021 to $3,670 thousand in 2022[112] - Total TDR Loans increased from $3.851 million in 2021 to $2.949 million in 2022, with a significant decrease in One- to four-family residential loans from $1.638 million to $1.126 million[117] - The allowance for credit losses increased from $60.8 million in 2021 to $63.5 million in 2022, with specific loan allocations decreasing from $495,000 to $245,000[124] - The ratio of allowance for credit losses to total loans decreased from 1.49% in 2021 to 1.39% in 2022[128] - Non-performing loans decreased from $5.423 million in 2021 to $3.670 million in 2022, with the ratio to total loans dropping from 0.13% to 0.08%[128] - The ratio of allowance for credit losses to non-performing loans increased significantly from 1,120.31% in 2021 to 1,729.69% in 2022[128] - One- to four-family residential and construction loans increased from $9.364 million (18.4% of total loans) in 2021 to $11.171 million (21.6% of total loans) in 2022[125] - Commercial real estate loans decreased from $28.604 million (36.5% of total loans) in 2021 to $27.096 million (33.7% of total loans) in 2022[125] - Consumer and overdrafts loans decreased from $5.345 million (5.0% of total loans) in 2021 to $4.416 million (4.2% of total loans) in 2022[125] - The company adopted a new accounting standard (ASU 2016-13) on January 1, 2021, which requires reflecting current estimates of all expected credit losses[122] - The allowance for credit losses is calculated using an average historical loss model, adjusted for current conditions and reasonable forecasts[118][119] - The company's balance at the end of the period increased to $63.48 million in 2022, up from $60.75 million in 2021[130] - Total charge-offs decreased to $2.17 million in 2022 from $2.62 million in 2021, with consumer, overdrafts, and other loans accounting for the majority at $1.95 million[130] - Net charge-offs were $274,000 in 2022, compared to a net recovery of $116,000 in 2021[130] - The provision for losses on loans was $3 million in 2022, a significant increase from a credit of $6.7 million in 2021[130] Deposit and Funding Activities - Total deposits as of December 31, 2022, were $4.68 billion, with $3.40 billion in Missouri, including $1.44 billion in Springfield and $708 million in St. Louis[37] - Non-interest-bearing demand deposits decreased by $146 million in 2022, while interest-bearing demand and savings deposits decreased by $193 million[146] - Total time deposits increased by $322 million in 2022, with retail time deposits increasing by $280 million[146] - Time deposits with interest rates between 2.00% - 2.99% increased to $452.12 million in 2022, up from $55.51 million in 2021[148] - Total deposits as of December 31, 2022, were $4.68 billion, with interest-bearing demand and savings deposits accounting for $2.34 billion[148] - The bank's deposit mix has shifted to a smaller percentage of time deposits, making it more susceptible to short-term fluctuations in deposit flows[149] - The bank manages deposit pricing in alignment with its asset/liability management and profitability objectives[149] - Total time deposits as of December 31, 2022, amounted to $1,282.8 million, with $236.8 million maturing in 3 months or less, $496.5 million maturing over 3 to 6 months, $337.7 million maturing over 6 to 12 months, and $211.8 million maturing over 12 months[152] - Uninsured time deposits as of December 31, 2022, totaled $200.2 million, compared to $108.4 million in 2021, with $33.9 million maturing in 3 months or less, $90.4 million maturing over 3 to 6 months, and $69.9 million maturing over 6 to 12 months[154] - Brokered deposits increased significantly to $411.5 million in 2022 from $67.4 million in 2021, with $150.0 million in IntraFi Funding accounts included in 2022[155][156] - IntraFi Network Deposits decreased to $12.4 million in 2022 from $41.7 million in 2021[158] - The company had outstanding overnight borrowings of $88.5 million from the FHLBank at December 31, 2022, compared to none in 2021[162] - The company's subordinated notes issued in 2020 have a fixed interest rate of 5.50% until June 15, 2025, after which it becomes floating at a rate expected to be equal to three-month term SOFR plus 5.325%[169] - Amortization of debt issuance costs for subordinated notes totaled $293,000 in 2022, $587,000 in 2021, and $608,000 in 2020, resulting in an imputed interest rate of 5.95% at December 31, 2022[170] - The maximum month-end balance of other borrowings in 2022 was $351.5 million, with a weighted average interest rate of 0.77%[171] - Total other borrowings increased to $266,426 thousand in 2022, with a weighted average interest rate of 2.16%, compared to $138,955 thousand at 0.02% in 2021[173] - Subordinated debentures maintained a maximum balance of $25,774 thousand in 2022, with a weighted average interest rate of 6.04%, up from 1.73% in 2021[176] - Subordinated notes had a maximum balance of $74,281 thousand in 2022, with a weighted average interest rate of 5.95%, slightly down from 5.97% in 2021[178] Investments and Securities - The company held $202.5 million in held-to-maturity securities as of December 31, 2022, compared to $0 in 2021[132] - Available-for-sale securities decreased to $490.6 million in 2022 from $501 million in 2021[133] - The company transferred $226.5 million of securities from available-for-sale to held-to-maturity in 2022[133] - Agency mortgage-backed securities in the available-for-sale portfolio had a fair value of $286.5 million in 2022, all with fixed interest rates[137] - The total amortized cost of available-for-sale securities was $553.2 million in 2022, with a weighted average tax-equivalent yield of 2.70%[139] - Held-to-maturity securities had a total amortized cost of $202.5 million in 2022, with a weighted average tax-equivalent yield of 2.63%[139] - Available-for-sale securities total $490.59 million, with agency mortgage-backed securities accounting for $286.48 million[140] - Held-to-maturity securities total $202.50 million, including $119.36 million in agency collateralized mortgage obligations[140] - Unrealized losses on available-for-sale securities amount to $62.74 million, with agency mortgage-backed securities contributing $40.78 million[140] - Unrealized losses on held-to-maturity securities total $24.73 million, with agency collateralized mortgage obligations accounting for $14.13 million[140] Subsidiaries and Investments - Great Southern's total investment in subsidiaries reached $170.4 million in 2022, with significant investments in GSLLC ($35.0 million) and GSTCLLC ($19.4 million)[179] - GSB Two, L.L.C. reported net income of $58.3 million in 2022, up from $57.4 million in 2021, driven by real estate mortgage holdings[190] - GSLLC recorded a net loss of $86,000 in 2022, compared to net income of $203,000 in 2021, primarily due to tax credit utilization[183] - GSSCLLC reported a net loss of $2,000 in 2022, down from net income of $41,000 in 2021, reflecting reduced state tax credit sales[184] - GSTCLLC incurred a net loss of $32,000 in 2022, improving from a net loss of $86,000 in 2021, due to reduced tax credit utilization[188] - VFP Conclusion Holding, L.L.C. and VFP Conclusion Holding II, L.L.C. held cash assets totaling $6.4 million in 2022, with no significant real estate holdings[191][192] Market Competition and Strategy - The company faces intense competition from large banking organizations, community banks, and fintech companies, emphasizing the need for competitive pricing and customer service[193][194] - 72.1% of the company's total deposit franchise dollars are located in Missouri, with a market share of 1.4% as of June 30, 2022[195] - The company's market share in Springfield, MO is 12.0%, ranking first among competitors[195] - The company has 92 branch offices, with 19 located in Springfield, MO and 17 in St. Louis, MO-IL[195] - The company's deposit franchise dollars are distributed as follows: Iowa (16.3%), Kansas (6.4%), Minnesota (4.0%), Arkansas (0.8%), and Nebraska (0.5%)[195] - The company competes for deposits by offering competitive rates, convenient services, and accessible branch, online, mobile, and ATM services[195] - The company's competition for real estate loans comes from commercial banks, savings institutions, and mortgage bankers, with competition based on interest rates, loan fees, and service quality[197] - The company increased interest rates on many deposit products since mid-2022 and utilized brokered deposits and FHLBank borrowings[199] Regulatory Compliance and Capital - The company is subject to regulatory capital rules under Basel III and the Dodd-Frank Act, with a Community Bank Leverage Ratio (CBLR) of 9.0%[206][208] Employee and Community Engagement - The company has 1,124 employees, including 210 part-time employees, as of December 31, 2022[201] - Great Southern associates donated nearly 4,000 volunteer hours and $70,000 in monetary donations to over 200 organizations in 2022[204] Geographic Expansion and Operations - The company operates 92 full-service retail banking offices, serving nearly 134,000 households across six states: Missouri, Iowa, Kansas, Minnesota, Arkansas, and Nebraska[34] - The company expanded its geographic footprint through five FDIC-assisted acquisitions, significantly increasing its presence in Iowa, Kansas, and Minnesota[36] - In 2022, the company opened two commercial loan production offices in Phoenix and Charlotte, focusing on commercial real estate, business, and construction loans[29] - The company consolidated several banking centers in 2022, including one in St. Louis and another in Kimberling City, Missouri, while opening a new banking center in Kimberling City[28] - The company ceased its indirect automobile financing unit in March 2019 due to market challenges and declining loan balances[23] - The company assumed deposits totaling $228 million and acquired loans of $159 million in the St. Louis area through a 2016 acquisition[19] - The company's largest deposit and loan concentrations are in the Springfield and St. Louis market areas, with significant diversification due to FDIC-assisted acquisitions and organic growth[36]

Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q4 2022 Earnings Conference Call January 24, 2023 3:00 PM ET Company Participants Kelly Polonus - IR Joe Turner - President & CEO Rex Copeland - CFO Conference Call Participants Andrew Liesch - Piper Sandler Damon DelMonte - KBW John Rodis - Janney Operator Thank you for standing by, and welcome to the Great Southern Bancorp's Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be ...

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 ACT OF 1934 For the Quarterly Period Ended September 30, 2022 ☐ 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 | (I. ...

Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q3 2022 Earnings Conference Call October 20, 2022 3:00 PM ET Company Participants Kelly Polonus - IR Joe Turner - President and CEO Rex Copeland - CFO Conference Call Participants Andrew Liesch - Piper Sandler Damon DelMonte - KBW John Rodis - Janney Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Great Southern Bancorp Incorporated Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. Aft ...

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 ACT OF 1934 For the Quarterly Period Ended June 30, 2022 ☐ 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 | (I.R.S. ...

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 ACT OF 1934 For the Quarterly Period Ended March 31, 2022 ☐ 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 | (I.R.S. ...

Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q1 2022 Earnings Conference Call April 21, 2022 3:00 PM ET Company Participants Kelly Polonus - Investor Relations Joe Turner - President and CEO Rex Copeland - Chief Financial Officer Conference Call Participants Andrew Liesch - Piper Sandler Damon DelMonte - KBW Operator Good day and thank you for standing by. Welcome to the Great Southern Bancorp Incorporated First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A ...