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The company’s full-year net income rises 1.8% to $74.6 million, officials report.
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The company’s full-year net income rises 1.8% to $74.6 million, officials report.

Great Southern Bank's 2022 profits beat prior year

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Great Southern Bancorp Inc. (Nasdaq: GSBC) ended 2022 ahead in earnings.

The Springfield-based operator of Great Southern Bank reported full-year net income of roughly $76 million, a 1.8% increase from $74.6 million a year earlier, according to a news release. Diluted share earnings were $6.02, up 10% from $5.46 per share in 2021.

"Benefitting from rising market interest rates, 2022 net income and earnings per share were exceptional," Great Southern President and CEO Joe Turner said in the release. "Looking ahead to 2023, the current economic and geopolitical landscape has created a great deal of uncertainty. We are focused on ensuring that the company is positioned for this, especially in the wake of the changing interest rate environment caused by continued inflationary pressures and other factors."

During the fourth quarter, Great Southern's profits rose 48% to $22.6 million, or $1.84 per diluted share, from $15.3 million, or $1.14 per diluted share, a year earlier.

As of Dec. 31, the company's assets were $5.7 billion and deposits were $4.7 billion, according to the release. Great Southern has 92 branches in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska, as well as commercial lending offices in Atlanta; Charlotte, North Carolina; Chicago; Dallas; Denver; Omaha, Nebraska; Phoenix; and Tulsa, Oklahoma.

GSBC shares were trading at $58.13 as of 9:40 a.m., compared with a 52-week range of $50.30 to $64.16 per share.

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