YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Great Southern Bank's first quarter net income comes to $18.9 million.
SBJ file photo
Great Southern Bank's first quarter net income comes to $18.9 million.

Great Southern posts 27% gain in Q1 profits

Posted online

Springfield-based Great Southern Bancorp Inc. (Nasdaq: GSBC) started the year with a boost in quarterly earnings.

The parent company of Great Southern Bank reported a 27% net income increase to $18.9 million in the first quarter, or $1.36 per diluted share, according to a news release. That's up from $14.9 million, or $1.04 per diluted share, a year earlier.

"Increased earnings were driven by higher net gains on mortgage loan sales, lower credit loss provision and general expense containment," Great Southern President and CEO Joe Turner said in the release.

Great Southern's first quarter financial highlights include:
• a $1 million decrease in salaries and employee benefits, due to a one-time cash bonus that was paid last year;
• $1.2 million in fee income on Paycheck Protection Program loans; and
• a 1.9% decrease in net interest income to $44.1 million.

As of March 31, Great Southern's assets were $5.6 billion and deposits were $4.6 billion, according to the release. The company operates 94 branches in Missouri and five other states.

GSBC shares were trading at $55.88 as of 10:14 a.m., compared with a 52-week range of $32.62 to $60.55 per share.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
From the Ground Up: Republic Intermediate School

The Republic School District is on track to open its Intermediate School for fifth- and sixth-grade students for the 2025-26 academic year.

Most Read
Update cookies preferences