Great Southern Bancorp Q4 Earnings Call Highlights

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