Great Southern Bancorp Stock Earnings Reports

Great Southern Bancorp reported preliminary Q2 2026 net income of $15.8M ($1.43/share), down from $19.8M a year ago, and $33.3M year-to-date vs. $36.9M prior year. Results were weighed down by one-time charges tied to a planned consolidation of nine banking centers and workforce reductions (66 positions). Net interest income was $49.5M; NIM expanded to 3.76% (from 3.68% YoY) helped by disciplined funding cost management despite the loss of ~$2M of swap-related income. Loan balances fell—net loans down $149M sequentially and $49.1M year-to-date—driven by elevated payoffs, particularly in commercial real estate, construction and multifamily; the pipeline remains robust with $1.07B total commitments (including $532M unfunded construction). Deposits declined (about $181M in first half), largely from brokered deposits by strategic choice to favor FHLB funding. Asset quality remains strong: nonperforming assets 0.17% of assets, allowance for credit losses 1.46% of loans, and no provision for loan losses in the period. Noninterest expense was $38.2M; excluding $2.1M of one-time consolidation/severance costs it was $36.1M. Management expects consolidation to yield $4.4–$4.8M in noninterest expense savings beginning Q4 2026, equating to ~$2.3–$2.7M in annual pretax income improvement. Capital is strong (equity $642M; book value $58.95/share); the company repurchased shares and still has ~304k shares available under the repurchase authorization. Management is prioritizing expense management, conservative underwriting, and capital allocation (buybacks, dividend increases or special dividends possible) while acknowledging continued competition and volatility in loan payoffs and originations.