Great Southern Bancorp(US:GSBC)2026-01-22 15:45Financial Performance - Preliminary earnings for Q4 2025 were $1.45 per diluted common share, up from $1.27 in Q4 2024, with net income increasing to $16.3 million from $14.9 million[2]. - Full-year 2025 net income reached $71.0 million, or $6.19 per diluted common share, compared to $61.8 million, or $5.26 per diluted common share, in 2024[2]. - Net income for the year ended December 31, 2025, was $70,973 thousand, an increase of 14.0% compared to $61,807 thousand in 2024[47]. - Earnings per common share for the year ended December 31, 2025, rose to $6.23, up from $5.28 in 2024, marking an increase of about 18.0%[53]. Asset and Loan Management - Total assets decreased to $5,598,606 thousand as of December 31, 2025, from $5,981,628 thousand in 2024, representing a decline of approximately 6.4%[47]. - Total net loans decreased by $333.5 million (7.1%) from $4.69 billion at December 31, 2024, to $4.36 billion at December 31, 2025[4]. - Loans receivable, net of allowance for credit losses, stood at $4,356,853 thousand as of December 31, 2025, compared to $4,690,393 thousand in December 2024, a decrease of about 7.1%[50]. - Total loans receivable decreased to $4,452,057 thousand with an average yield of 5.90% for the three months ended December 31, 2025, compared to $4,785,690 thousand and 5.93% for the same period in 2024[56]. Non-Performing Assets - Non-performing assets decreased to $8.1 million (0.15% of total assets) at December 31, 2025, down from $9.6 million (0.16% of total assets) at December 31, 2024[4]. - Non-performing assets decreased to $8,130 thousand in 2025 from $9,566 thousand in 2024, indicating a reduction of approximately 15.0%[47]. - Non-performing loans increased by $366,000 compared to September 30, 2025, totaling $2.094 million at December 31, 2025[28]. - Potential problem loans decreased by $8,000 to $1.390 million at December 31, 2025[31]. Income and Expenses - Net interest income for Q4 2025 decreased by $371,000 (0.7%) to $49.2 million, primarily due to the end of income recognition from a previously-terminated interest rate swap[4]. - Non-interest income increased to $29,052 thousand for the year ended December 31, 2025, compared to $30,565 thousand in 2024, reflecting a decrease of approximately 4.9%[47]. - Non-interest expense for Q4 2025 was approximately $36.0 million, consistent with the prior-year quarter and the third quarter of 2025[5]. - Non-interest expense decreased by $947,000 to $36.0 million, with an efficiency ratio of 63.89%, down from 65.43% in the same quarter of 2024[13]. Equity and Dividends - Total stockholders' equity increased by $36.6 million to $636.1 million, with a book value of $57.50 per common share, compared to $51.14 per share at December 31, 2024[15]. - Total stockholders' equity increased to $636,126 thousand as of December 31, 2025, from $599,568 thousand in December 2024, reflecting an increase of approximately 6.1%[50]. - Dividends declared per common share increased to $0.43 for the three months ended December 31, 2025, up from $0.40 in the same period of 2024, representing a growth of 7.5%[53]. Future Outlook and Strategic Initiatives - The Company opened a new banking center in Springfield, Mo., on October 20, 2025, designed as a next-generation facility[37]. - The Company plans to transition its Cottleville banking center to a drive-thru Express Center in Spring 2026, marking its first in the St. Louis market[38]. - The Company will consolidate its Edina, Minn., banking center operations with another location by the end of January 2026[39]. - The Company will host a conference call on January 22, 2026, to discuss fourth quarter 2025 preliminary earnings[40].