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Great Southern produced $74.6 million in 2021 profits.
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Great Southern produced $74.6 million in 2021 profits.

Great Southern expands west

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Great Southern Bancorp Inc. (Nasdaq: GSBC) today announced the opening of a loan production office in Phoenix, Arizona.

The office represents the farthest west location in Great Southern Bank's footprint, according to the company’s website.

"Great Southern is pleased to open an LPO in Phoenix and to serve commercial lending needs in the area," President and CEO Joe Turner said in a news release.

The company hired 16-year Phoenix market lending veteran Justin Lutz as market manager. Lutz, who most recently worked the past 10 years with Bankers Trust Co., is responsible for developing commercial lending relationships for Great Southern in the Phoenix area.

"His familiarity with the market and his lending experience will be a tremendous asset as we build relationships with area clients," Turner said in the release.

The loan production office is the seventh companywide for Great Southern. The bank also operates loan offices in Atlanta; Chicago; Dallas; Denver; Omaha, Nebraska; and Tulsa, Oklahoma, along with 93 branches in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska.

Great Southern last month reported a 26% increase in 2021 net income to $74.6 million.

GSBC shares were trading at $61.16 as of 10:38 a.m., near a 52-week high of $62 per share set Feb. 16. The stock's 52-week low is $49.53.

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