YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Excluding the effects of the company’s accounting for interest rate swaps, earnings were 54 cents per share for the quarter ended March 31.
Preliminary first-quarter earnings were $7.2 million, compared to $3.4 million in first-quarter 2005.
The 2005 quarter’s earnings include the effects of an accounting change, which in January prompted the company to restate its earnings since mid-2000. Excluding the effects of this accounting change, first-quarter 2005 earnings were 46 cents per share. As restated, earnings were 24 cents per share in first-quarter 2005.
Net interest income for the quarter increased to $16.6 million, up from $13.3 million in first-quarter 2005. Annual noninterest income was $7.1 million, compared to $2.9 million last year.
“In the first quarter, Great Southern experienced strong loan growth, primarily in commercial and residential construction lending, from customers in both our primary and loan production markets,” said Joseph W. Turner, president and CEO, in a news release. “Deposit growth was strong with increases primarily in interest-bearing checking accounts and retail certificates of deposit.”
Great Southern Bancorp shares (Nasdaq: GSBC) closed April 21 at $28.55, compared to a 52-week range of $26.32 to $35.77.
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