Great Southern earnings grow 9% in quarter

Earnings for the quarter ended June 30 were $8.2 million, or 60 cents per diluted share, compared to $7.5 million, or 54 cents per share, earned in the same period last year.

Year-to-date earnings as of June 30 were $1.13 per share, or $15.5 million, up from $1.06 per share, or $14.7 million, last year.

“Growth in our loan portfolio, primarily in the commercial and residential construction area, continued at a healthy pace in the second quarter,” Great Southern President and CEO Joseph W. Turner said in a news release. “Net interest income increased in the second quarter, as asset balances and yields on those assets both increased.”

Turner added that noninterest income also rose, by nearly 7 percent, to $7.9 million. Officials attribute the gains to 6 percent growth in service charges and automated teller machine fees, and 11 percent growth in commission revenue from the company’s investment, insurance and travel divisions.

In the past year, Great Southern added two retail banking centers – most recently, at 2945 W. Republic Road. The company also acquired two travel agencies – St. Louis-based The Travel Co. in March and Columbia-based Global Travel and Vacations last July.

Stockholders’ equity as of June 30 was $181.6 million – 7.6 percent of total assets – which equals a book value of $13.37 per share. Company shares (Nasdaq: GSBC) closed Wednesday at $26.34.

Great Southern operates 38 banking centers and 180 ATMs in Missouri and also has loan production offices in St. Louis; Columbia; Rogers, Ark.; and Overland Park, Kan.