Great Southern expands commercial lending

Springfield-based Great Southern Bancorp Inc. (Nasdaq: GSBC) is expanding its commercial lending presence with the opening of loan offices in Oklahoma and Texas this month.

A commercial loan office opens today in Tulsa, Okla., while another is set to open in Dallas by the end of the month. The offices represent Great Southern's first physical presence the company will have in each market, serving existing clients in the areas, according to a news release.

“We have assembled experienced teams in those markets who are already proving to be great assets as we build relationships with clients in the markets," Great Southern President and CEO Joe Turner said in the release.

Leading the markets are a 30-year commercial real estate lending veteran in Dallas and an 11-year commercial real estate lending worker in Tulsa.

The loan offices will provide a variety of Great Southern's commercial lending services, including fixed- and variable-rate commercial real estate loans for new and existing properties, the release said.

Great Southern, which operates 96 branches in six states and holds assets of $3.6 billion, recorded decreased profits for the fourth quarter and full year. The company reported net income of $8.7 million for the fourth quarter, a 30.3 percent decrease a year earlier, while annual profits declined 30.7 percent to $33.7 million from $48.7 million in 2012.

Great Southern spokeswoman Kelly Polonus said 2012 results were positively affected by a one-time gain of $31.3 million related to the Federal Deposit Insurance Corp.-assisted acquisition of InterBank during second-quarter 2012.

GSBC shares were trading at $28.06 as of 9:39 a.m., compared to a 52-week range of $22.60 to $31.23.