Great Southern Bancorp Inc. (Nasdaq: GSBC) is making up to $300,000 available to nonprofits amid the coronavirus pandemic.
Kelly Polonus, spokeswoman for the Great Southern Bank operator, said the funds are being distributed to all communities in the company's 11-state service area.
The funds are earmarked for Feeding America food banks, local United Way agencies and other nonprofits that are working to address food insecurity and health and human services during the outbreak, according to a news release.
“While we don’t fully comprehend the magnitude the COVID-19 crisis will have, we do understand the burden that has been placed on the livelihood of vulnerable children, families and businesses in all of our communities,” Great Southern President and CEO Joe Turner said in the release. “As the needs in our communities continue to rapidly escalate, we must take swift action to provide resources where there are gaps, and help our local communities protect their most vulnerable citizens.
"We appreciate the tireless work of our nonprofit partners, who take on an even greater and more critical importance in times like these.”
Great Southern operates more than 100 branches in Missouri, Arkansas, Colorado, Georgia, Illinois, Iowa, Kansas, Minnesota, Nebraska, Oklahoma and Texas. It has $5 billion in assets, according to the release.
For 2019, Great Southern reported a nearly 10% increase in net income to $73.6 million.
GSBC shares were trading at $38.20 as of 12:40 p.m., compared with a 52-week range of $32.23 to $64.48. Great Southern shares have dropped by nearly 27% in March through today's high of $38.86 per share, amid a stock market drop related to the coronavirus.
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