Banks in Springfield report increased earnings

Three banks Guaranty Fedreal Savings Bank, Commerce Bank and Great Southern Bank recently announced increased earnings for the second quarter ended Dec. 31.

Guaranty Federal

Guaranty Federal Bancshares Inc., the holding company for Guaranty Federal Savings Bank, reported a 24 percent increase in quarterly earnings per share. Earnings were at 31 cents per share ($868,000), up from the 25 cents per share ($933,000) the company earned during the same quarter in the prior year.

A stock repurchase plan, announced Jan. 5, 2001, has been completed with the company repurchasing 437,764 shares of common stock at an average price of $12.80 per share.

Guaranty Federal Savings Bank has eight branches and 18 ATM locations in Greene and Christian counties.

Commerce

Commerce Bancshares Inc. announced record earnings of $2.89 per share in 2002 compared to $2.60 per share in 2001, for an 11 percent increase. Total earnings for 2002 totaled $199.5 million, an increase of 10 percent, compared to $182 million earned in 2001.

Earnings per share were 76 cents, compared to 67 cents for the same period last year, for an increase of 13 percent. Total earnings for the quarter amounted to $51.5 million, compared to $46.8 million last year.

The company declared and paid its ninth consecutive annual 5 percent stock dividend during the fourth quarter.

This marks the company's 18th consecutive year of record earnings and double-digit growth in earnings per share. Commerce Bancshares Inc. operates in 340 banking locations in Missouri, Illinois and Kansas.

Great Southern

Great Southern Bancorp Inc. reported earnings of 77 cents per share ($5,356,000) up from the 67 cents per share ($4,649,000) the company earned during the same quarter in the prior year. This represents a 15 percent increase in earnings per share over the same quarter in the previous year.

Preliminary earnings for the year ended Dec. 31, 2002, were $3.34 per share ($23,212,00), up 24 percent from the $2.70 the company earned during the same period in the prior year.

With its headquarters in Springfield, Great Southern Bancorp Inc. operates 29 branches and more than 130 ATMs throughout southwest and central Missouri.