From the Vault: Area banks' fourth-quarter and year-end results

Guaranty Federal Bancshares Inc., the holding company for Springfield-based Guaranty Bank, on Jan. 16 reported a double-digit percentage increase in earnings per share for the third year in a row.

Diluted earnings per share increased 10.4 percent to $2.25, from $2.03 in 2005.

Net earnings for the year were $6.5 million, up 10 percent. Net interest income rose by 15 percent.

For fourth-quarter 2006, earnings were $1.74 million, compared to $1.65 million in fourth-quarter 2005. Diluted earnings per share were up 8.9 percent to 61 cents.

Shares (Nasdaq: GFED) closed Jan. 24 at $29.31, compared to a 52-week range of $27.45 to $30.59.

Great Southern Bancorp

Springfield-based Great Southern Bancorp Inc., the holding company for Great Southern Bank, on Jan. 19 reported a 12 percent increase in 2006 earnings per share.

Annual earnings were $30.7 million, or $2.22 per share, including effects of the company’s accounting for interest rate swaps, compared to $1.63 per share, or $22.7 million, the previous year. Excluding effects of the change, net income was $2.22 per share for the year-to-date, up from $1.99 per share in 2005.

Quarterly earnings were $7.7 million, or 56 cents per share, compared to 52 cents in fourth-quarter 2005, excluding effects of the change. Including the effects of the change, earnings were 58 cents per share, or $8 million.

Shares (Nasdaq: GSBC) closed Jan. 24 at $28.60, compared to a 52-week range of $25.05 to $32.14.

Bank of America

Charlotte, N.C.-based Bank of America Tuesday reported record net income of $21.13 billion for 2006, up 28 percent from the previous year.

Per share earnings for the year increased 14 percent to $4.59 per diluted share from $4.04 per share in 2005.

In the fourth quarter of 2006, net income was $5.26 billion or $1.16 per diluted share, compared to $3.57 billion or 88 cents per diluted share a year earlier.

Shares (NYSE: BAC) closed Jan. 24 at $53.20, compared to a 52-week range of $42.92 to $55.08.

Commerce Bancshares

Kansas City-based Commerce Bancshares on Jan. 16 announced 3 percent earnings for 2006.

The company had earnings of $3.09 per share for the year, up 3 percent from $3.01 per share in 2005. Net earnings for the year totaled $219.8 million, down slightly from $223.2 million the year before.

For the fourth quarter, earnings per share were 80 cents, an increase of 4 percent over the fourth quarter of 2005, and net income was up 1 percent to $57 million.

The company’s total assets as of Dec. 31 were $15.2 billion, total loans were $10 billion and total deposits were $11.7 billion.

Shares (Nasdaq: CBSH) closed Jan. 24 at $48.81, compared to a 52-week range of $43.43 to $50.60.

Regions Financial

A November merger gave Birmingham, Ala.-based Regions Financial Corp. a 7 percent increase in per-share earnings for the fourth quarter, the company reported Jan. 19.

Quarterly earnings increased to $361.1 million, or 56 cents per share, excluding 9 cents per share of charges related to Regions’ Nov. 4 merger with Birmingham-based AmSouth. Net income for the year was up 17 percent to $1.4 billion, or $2.79 per share, excluding 23 cents per share of merger-related charges.

Shares (NYSE: RF) closed Jan. 24 at $36.22, compared to a 52-week range of $32.37 to $39.15.

U.S. Bancorp

Quarterly earnings for Minneapolis-based U.S. Bancorp grew $51 million, or 4 cents per share, the company has reported.

Net income for the fourth quarter was $1.2 billion, up from $1.14 billion the year before. Per-share earnings were 66 cents, a 6.5 percent increase from 62 cents in fourth-quarter 2005.

Net income for 2006 increased to $4.8 billion, or $2.61 per share, from $4.5 billion, or $2.42 per share, in 2005.

Shares (NYSE: USB) closed Jan. 24 at $35.52, compared to a 52-week range of $29.10 to $36.85.

UMB Financial

Kansas City-based UMB Financial Corp. on Jan. 23 reported 6.1 percent gains in 2006 earnings.

Earnings for the year were $59.8 million, or $1.40 per share, compared to 2005 earnings of $56.3 million, or $1.31 per share.

Company officials attribute the increase to a 15.4 percent jump in net interest income – to $217 million – and a 1.2 percent increase in noninterest income. Those increases were slightly offset by a 6.5 percent rise in noninterest expense.

Activity during the year included the company’s third-quarter acquisition of Denver-based Mountain States Bancorporation Inc., which had $284.1 million in consolidated assets.

Earnings for the fourth quarter were $15.8 million, or 37 cents per share. That’s up 5.7 percent from $15 million a year before.

Shares (Nasdaq: UMBF) closed Jan. 24 at $36.26, compared to a 52-week range of $31.80 to $38.04.