Great Southern pushes earnings nearly 33%

Great Southern Bancorp Inc. (Nasdaq: GSBC) pushed first-quarter net income available to common shareholders to $11.5 million, a 32.7 percent increase from $8.7 million in the same quarter last year.

The Springfield-based holding company of Great Southern Bank posted diluted share earnings of 83 cents for the three months ended March 31, a 20-cent uptick, according to a news release.

“Earnings were driven by strong loan growth throughout the company's eight-state footprint and in most loan types,” Great Southern President and CEO Joe Turner said in the release, pointing to a $102.9 million increase in gross loans - excluding acquired loans and mortgage loans held for sale - compared to the end of 2014.

First-quarter financial notes:

• As of March 31, loans receivable totaled $3.1 billion.
• Salaries and employee benefits rose 12 percent to $14.6 million from $13 million in the same quarter a year earlier.
• Net interest income increased 16.2 percent to $45.1 million, compared to $38 million last year.

As of March 31, Great Southern held assets of $4.1 billion and deposits of $3.3 billion. The company operates 109 offices in eight states, according to a separate release.

GSBC shares were trading at $38.91 as of 9:32 a.m., compared to a 52-week range of $28 to $40.44.[[In-content Ad]]