Although Great Southern Bancorp Inc. (Nasdaq: GSBC) recorded four instances of unusual expense items, the company’s bottom line rose in the third quarter.
The Springfield-based operator of Great Southern Bank reported net income available to common shareholders of $11.2 million, a 1.5 percent increase compared with $11.1 million a year earlier. Diluted share earnings ticked up a cent to 80 cents, according to a news release.
The company’s unusual third-quarter expenses were:
• $775,000 in debit card and check fraud losses from a data security breach at a national retail merchant, which was not named in the release;
• $320,000 in losses on a foreclosed property;
• $318,000 for new chip-enabled debit cards; and
• $300,000 spent implementing a multimedia advertising campaign tied to the summer Olympics.
The expenses were more than offset by a successful $75 million
public bond offering completed in August.
Great Southern ranked second as of June 30 in deposits held in the Springfield metropolitan statistical area. The
information released last month from the Federal Deposit Insurance Corp. indicated Great Southern held $1.2 billion in area deposits, or 13.47 percent of the market share.
As of Sept. 30, Great Southern had $4.4 billion in assets and $3.6 billion in deposits. The company operates 105 branches in six states and commercial lending offices in two others, according to the release.
GSBC shares were trading at $43.05 as of 9:09 a.m., compared with a 52-week range of $34.48 to $52.94.
