Great Southern plans to repurchase up to 5% of stock

The plan authorizes the repurchase of up to 700,000 shares of common stock, representing about 5 percent of outstanding shares. It will replace the company’s existing repurchase plan, under which about 60,000 shares remain to be repurchased. That plan was approved in 2000.

The number of shares that will be repurchased at different times will depend on the number of shares available in the market from sellers, the price of the stock within the market and the projected impact on Great Southern’s earnings per share, among other factors, according to a company news release.

Great Southern has assets of $2.2 billion and operates 37 retail banking centers in Missouri and loan production offices in Kansas, Arkansas, Columbia and St. Louis. Shares (Nasdaq: GSBC) closed Nov. 15 at $31.85, compared to a 52-week range of $25.05 to $32.42.

This story originally appeared in SBJ’s Nov. 16 free e-news Daily Update. Click here to register.