Great Southern 2Q earnings, total assets rise

Earnings were $7.5 million, or 54 cents per share, for the quarter, compared to $6.9 million, or 50 cents, reported in second-quarter 2005, excluding the effects of an accounting change.

Including effects of the change, per-share earnings for the quarter were 54 cents, compared to a restated 74 cents last year, though those figures are expected to flow back into income over the remaining terms of the change.

For the first six months of the year, earnings totaled $15 million, an increase from $13.4 million a year ago, excluding effects of the restatement. Earnings per share for the year to date are $1.09, up from 96 cents last year, also excluding the change.

Net interest income showed an increase, at $17.1 million, from $14 million in the same quarter last year.

Company officials say the quarter brought growth in lending, particularly for commercial and residential construction. Commission revenue from its investment, insurance and travel divisions also were up.

Assets as of June 30 were $2.24 billion, a $163 million increase from assets reported at the end of 2005.

Great Southern Bancorp shares (Nasdaq: GSBC) closed Wednesday at $29.82 and had fallen to $29.62 as of 11:30 this morning.