Great Southern Bancorp, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Great Southern Bancorp, Inc. has filed its 2023 annual report (10-K) detailing financial performance and operational data.</b>

AI Summary

GREAT SOUTHERN BANCORP, INC. (GSBC) filed a Annual Report (10-K) with the SEC on March 12, 2024. Great Southern Bancorp, Inc. filed its 2023 Form 10-K on March 12, 2024. The filing covers the fiscal year ending December 31, 2023. Key financial data points such as total assets and total debt are included. The report details various financial statement line items and their changes over periods. Information on stock options and exercise prices is also presented.

Why It Matters

For investors and stakeholders tracking GREAT SOUTHERN BANCORP, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Great Southern Bancorp's financial health and strategic positioning for the fiscal year 2023. Investors and analysts can use this report to assess the company's performance, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: medium — GREAT SOUTHERN BANCORP, INC. shows moderate risk based on this filing. The company operates in the commercial banking sector, which is subject to significant regulatory oversight and economic fluctuations, as evidenced by the detailed financial disclosures and risk factor sections typically found in 10-K filings.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Great Southern Bancorp's performance and potential challenges in the current economic climate.

Financial Highlights

revenue

12231290

total Assets

12231290

total Debt

75946000

net Income

563000

Key Numbers

• 12231290 — Total Assets (2023) (Total assets as of December 31, 2023)
• 11804430 — Total Assets (2022) (Total assets as of December 31, 2022)
• 75946000 — Total Debt (2023) (Total debt as of December 31, 2023)
• 78474000 — Total Debt (2022) (Total debt as of December 31, 2022)
• 563000 — Net Income (2023) (Net income for the year ended December 31, 2023)
• 200000000 — Prepaid Expenses and Other Assets (2023) (Prepaid expenses and other assets as of December 31, 2023)

Key Players & Entities

• GREAT SOUTHERN BANCORP, INC. (company) — Filer name
• 0000854560 (company) — Central Index Key
• 6022 (regulator) — Standard Industrial Classification
• MD (company) — State of incorporation
• SPRINGFIELD (company) — Business address city
• MO (company) — Business address state
• 417-887-4400 (company) — Business phone
• 20231231 (date) — Fiscal year end

FAQ

Key Dates

• 2024-03-12: 10-K Filing — Filing of the annual report for the fiscal year ended December 31, 2023.
• 2023-12-31: Fiscal Year End — End date for the reporting period covered by the 10-K.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share GSBC The NASDAQ Stock Mar
• $5.81 b — ancorp's consolidated total assets were $5.81 billion, consolidated net loans were $4.5
• $4.59 b — 81 billion, consolidated net loans were $4.59 billion, consolidated deposits were $4.72
• $4.72 billion — .59 billion, consolidated deposits were $4.72 billion and consolidated total stockholders' eq
• $571.8 million — olidated total stockholders' equity was $571.8 million. For details about the Company's assets
• $4.77 billion — net loans of $4.59 billion, deposits of $4.77 billion and equity capital of $629.1 million, o
• $629.1 m — of $4.77 billion and equity capital of $629.1 million, or 10.8% of total assets. Its de
• $499.9 million — sets with a fair value of approximately $499.9 million (approximately 18.8% of the Company's t
• $294.2 million — consolidated assets at acquisition) and $294.2 million (approximately 8.8% of the Company's to
• $610.2 million — ssumed liabilities with a fair value of $610.2 million (approximately 24.9% of the Company's t
• $440.0 million — consolidated assets at acquisition) and $440.0 million (approximately 13.2% of the Company's t
• $43.9 million — ctively. They also resulted in gains of $43.9 million and $45.9 million, respectively, which
• $45.9 m — resulted in gains of $43.9 million and $45.9 million, respectively, which were include
• $248.9 million — sets with a fair value of approximately $248.9 million (approximately 7.3% of the Company's to
• $345.8 million — ssumed liabilities with a fair value of $345.8 million (approximately 10.1% of the Company's t

Filing Documents

• gsbc-20231231x10k.htm (10-K) — 11610KB
• gsbc-20231231xex10d7.htm (EX-10.7) — 15KB
• gsbc-20231231xex10d8.htm (EX-10.8) — 2KB
• gsbc-20231231xex21.htm (EX-21) — 17KB
• gsbc-20231231xex23.htm (EX-23) — 3KB
• gsbc-20231231xex31d1.htm (EX-31.1) — 11KB
• gsbc-20231231xex31d2.htm (EX-31.2) — 10KB
• gsbc-20231231xex32.htm (EX-32) — 6KB
• gsbc-20231231xex97.htm (EX-97) — 44KB
• 0001410578-24-000178.txt (&nbsp;) — 38763KB
• gsbc-20231231.xsd (EX-101.SCH) — 169KB
• gsbc-20231231_cal.xml (EX-101.CAL) — 145KB
• gsbc-20231231_def.xml (EX-101.DEF) — 506KB
• gsbc-20231231_lab.xml (EX-101.LAB) — 1202KB
• gsbc-20231231_pre.xml (EX-101.PRE) — 901KB
• gsbc-20231231x10k_htm.xml (XML) — 10255KB

BUSINESS

BUSINESS 2 ITEM 1A.

RISK FACTORS

RISK FACTORS 48 ITEM 1B. UNRESOLVED STAFF COMMENTS 60 ITEM 1C. CYBERSECURITY 60 ITEM 2. PROPERTIES. 61 ITEM 3. LEGAL PROCEEDINGS. 61 ITEM 4. MINE SAFETY DISCLOSURES. 61 ITEM 4A. INFORMATION ABOUT OUR EXECUTIVE OFFICERS 62 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 62 ITEM 6. [RESERVED] 64 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 64 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 103 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 108 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 167 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 167 ITEM 9B. OTHER INFORMATION. 171 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 171 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE. 171 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION. 171 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 171 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE. 172 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES. 172 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. 173 ITEM 16. FORM 10-K SUMMARY 177

SIGNATURES

SIGNATURES 178 1 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS. THE COMPANY Great Southern Bancorp, Inc. Great Southern Bancorp, Inc. ("Bancorp" or "Company") is a bank holding company, a financial holding company and the parent of Great Southern Bank ("Great Southern" or the "Bank"). Bancorp was incorporated under the laws of the State of Delaware in July 1989 as a unitary savings and loan holding company. The Company became a one-bank holding company on June 30, 1998, upon the conversion of Great Southern to a Missouri-chartered trust company. In 2004, Bancorp was re-incorporated under the laws of the State of Maryland. As a Maryland corporation, the Company is authorized to engage in any activity that is permitted by the Maryland General Corporation Law and not prohibited by law or regulatory policy. The Company currently conducts its business as a financial holding company. Through the financial holding company structure, it is possible to expand the size and scope of the financial services offered by the Company beyond those offered by the Bank, although the Company has not yet chosen to offer financial services beyond those offered by the Bank. The financial holding company structure provides the Company with greater flexibility than the Bank has to diversify its business activities, through existing or newly formed subsidiaries, or through acquisitions of or mergers with other financial institutions as well as other companies. At December 31, 2023, Bancorp's consolidated total assets were $5.81 billion, consolidated net loans were $4.59 billion, consolidated deposits were $4.72 billion and consolidated total stockholders' equity was $571.8 million. For details about the Company's assets, revenues and profits for each of the last five fiscal years, see Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations." The assets of the Company at the holding company level consist primarily of the stock of Great Southern and cash. Through the Bank and subsidiaries of the

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View this 10-K filing on SEC EDGAR