Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company's merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company's market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company's investment portfolio; (ix) the Company's ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company's business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. Assets Cash $ 109,833 $ 109,366 $ 94,106 Interest-bearing deposits in other financial institutions 79,721 86,390 102,129 Cash and cash equivalents 189,554 195,756 196,235 Available-for-sale securities 523,831 533,373 531,348 Held-to-maturity securities 179,200 187,433 181,315 Mortgage loans held for sale 6,838 6,937 5,593 Loans receivable, net of allowance for credit losses of $64,771 – December 2025; $64,760 – December 2024; $64,749 – September 2025 4,356,853 4,690,393 4,467,683 Interest receivable 18,068 20,430 19,931 Prepaid expenses and other assets 128,615 136,594 133,412 Other real estate owned and repossessions, net 6,036 5,993 6,083 Premises and equipment, net 133,257 132,466 133,769 Goodwill and other intangible assets 9,660 10,094 9,769 Federal Home Loan Bank stock and other interest-earning assets 20,079 28,392 25,603 Current and deferred income taxes 26,615 33,767 27,126 Total Assets $ 5,598,606 $ 5,981,628 $ 5,737,867 Liabilities and Stockholders’ Equity Liabilities Deposits $ 4,482,774 $ 4,605,549 $ 4,528,033 Securities sold under reverse repurchase agreements with customers 48,467 64,444 42,674 Short-term borrowings 330,928 514,247 425,907 Subordinated debentures issued to capital trust 25,774 25,774 25,774 Subordinated notes — 74,876 — Accrued interest payable 3,612 12,761 3,909 Advances from borrowers for taxes and insurance 5,781 5,272 9,904 Accounts payable and accrued expenses 56,596 70,634 61,074 Liability for unfunded commitments 8,548 8,503 7,666 Total Liabilities 4,962,480 5,382,060 5,104,941 Stockholders’ Equity Capital stock Preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding December 2025, December 2024 and September 2025 -0- shares — — — Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding December 2025 – 11,062,252 shares; December 2024 – 11,723,548 shares; September 2025 – 11,265,937 shares 111 117 113 Additional paid-in capital 54,120 50,336 52,855 Retained earnings 614,095 603,477 615,837 Accumulated other comprehensive loss (32,200 ) (54,362 ) (35,879 ) Total Stockholders’ Equity 636,126 599,568 632,926 Total Liabilities and Stockholders’ Equity $ 5,598,606 $ 5,981,628 $ 5,737,867 2025 2024 2025 2024 2025 Interest Income Loans $ 66,531 $ 75,380 $ 285,460 $ 297,176 $ 72,028 Investment securities and other 6,904 7,205 28,272 27,522 7,051 73,435 82,585 313,732 324,698 79,079 Interest Expense Deposits 21,185 25,799 94,137 109,705 23,984 Securities sold under reverse repurchase agreements 120 295 1,160 1,407 297 Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 2,598 5,417 14,640 18,222 3,618 Subordinated debentures issued to capital trust 369 434 1,547 1,798 407 Subordinated notes — 1,106 2,015 4,423 — 24,272 33,051 113,499 135,555 28,306 Net Interest Income 49,163 49,534 200,233 189,143 50,773 Provision for Credit Losses on Loans — — — 1,700 — Provision (Credit) for Unfunded Commitments 882 1,556 45 1,016 (379 ) Net Interest Income After Provision for Credit Losses and Provision (Credit) for Unfunded Commitments 48,281 47,978 200,188 186,427 51,152 Non-interest Income Commissions 387 217 1,626 1,227 566 Overdraft and Insufficient funds fees 1,334 1,314 5,182 5,140 1,367 POS and ATM fee income and service charges 3,234 3,348 13,202 13,586 3,290 Net gains on loan sales 862 899 3,272 3,779 916 Late charges and fees on loans 421 132 1,193 512 189 Loss on derivative interest rate products (8 ) (1 ) (62 ) (58 ) (2 ) Other income 958 1,025 4,639 6,379 736 7,188 6,934 29,052 30,565 7,062 Non-interest Expense Salaries and employee benefits 19,645 19,509 79,963 78,599 20,184 Net occupancy and equipment expense 9,456 8,300 35,297 32,118 8,873 Postage 916 884 3,565 3,329 893 Insurance 1,078 1,163 4,448 4,622 1,110 Advertising 949 955 2,929 3,124 985 Office supplies and printing 211 273 953 1,008 238 Telephone 696 697 2,797 2,772 690 Legal, audit and other professional fees 951 1,001 4,166 5,399 1,248 Expense (income) on other real estate and repossessions (138 ) (114 ) (518 ) (304 ) (142 ) Acquired intangible asset amortization 109 108 434 433 109 Other operating expenses 2,127 4,171 7,909 10,395 1,928 36,000 36,947 141,943 141,495 36,116 Income Before Income Taxes 19,469 17,965 87,297 75,497 22,098 Provision for Income Taxes 3,194 3,043 16,324 13,690 4,346 Net Income $ 16,275 $ 14,922 $ 70,973 $ 61,807 $ 17,752 Earnings Per Common Share Basic $ 1.46 $ 1.27 $ 6.23 $ 5.28 $ 1.57 Diluted $ 1.45 $ 1.27 $ 6.19 $ 5.26 $ 1.56 Dividends Declared Per Common Share $ 0.43 $ 0.40 $ 1.66 $ 1.60 $ 0.43
Author: Great Southern Bancorp, Inc.
Published at: 2026-01-21 23:00:00
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