YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Great Southern Bank records profits of $19.7 million in the third quarter.
Photo provided by Great Southern Bank
Great Southern Bank records profits of $19.7 million in the third quarter.

Great Southern’s profits fall 12%

Posted online

Springfield-based Great Southern Bancorp Inc. (Nasdaq: GSBC) posted a 12.4% drop in third quarter net income.

The Great Southern Bank parent company’s profits were $19.7 million for the three-month period ended Sept. 30, compared with $22.5 million a year earlier. Diluted share earnings were $1.38, down from $1.57 per share in third quarter 2018, according to a news release.

Officials cited a one-time, pretax gain of $7.4 million in third quarter 2018, when the company sold branches in Nebraska.

Third quarter 2019 financial notes for Great Southern Bank:
• Net interest income was up nearly 7% to $46 million.
• Provision for loan losses increased 50% to roughly $2 million.
• Salaries and employee benefits grew 4% to $15.8 million.

Great Southern’s assets were $5 billion and deposits were $3.9 billion as of Sept. 30. The company operates 97 branches in six states, according to the release.

The company ranked as the No. 1 deposit holder in the Springfield metropolitan statistical area in data released last month by the Federal Deposit Insurance Corp. As of June 30, its local deposits were $1.7 billion, representing about 16% of the five-county market share.

GSBC shares were trading at $59.82 as of 9:52 a.m., near a 52-week high of $60.94. The 52-week low is $43.30.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
PBA tourney puts spotlight on Springfield

Tournament hosts say nationally televised PBA event puts area bowling on the map.

Most Read
SBJ.net Poll
How should the city's final ARPA funds be spent?

*

View results

Update cookies preferences