Great Southern Bancorp, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Great Southern Bancorp, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial data and corporate information.</b>

AI Summary

GREAT SOUTHERN BANCORP, INC. (GSBC) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Great Southern Bancorp, Inc. reported its financial results for the quarter ended March 31, 2024. The company's fiscal year ends on December 31st. The filing is a 10-Q, indicating a quarterly report. The company's principal business address is in Springfield, MO. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of various dates.

Why It Matters

For investors and stakeholders tracking GREAT SOUTHERN BANCORP, INC., this filing contains several important signals. This 10-Q filing provides investors with up-to-date financial performance and position of Great Southern Bancorp, Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the bank's operational health, asset management, and capital structure in the current economic environment.

Risk Assessment

Risk Level: low — GREAT SOUTHERN BANCORP, INC. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, indicating a low level of inherent risk in the filing itself.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to understand Great Southern Bancorp's performance and financial health for Q1 2024.

Key Numbers

• 2024-03-31 — Report Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (Filed As Of Date)
• 11804430 — Common Stock Shares Outstanding (Common Stock, par value $0.01 per share)
• 11699356 — Common Stock Shares Outstanding (Previous) (Common Stock, par value $0.01 per share)
• 76000000 — Prepaid Expense and Other Assets (Prepaid Expense and Other Assets)
• 82200000 — Prepaid Expense and Other Assets (Previous) (Prepaid Expense and Other Assets)

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
• 1451 E BATTLEFIELD (company) — Business Address Street 1
• SPRINGFIELD (company) — Business Address City
• MO (company) — Business Address State
• 417-887-4400 (company) — Business Phone

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

• $0.01 — registered Common Stock, par value $0.01 per share GSBC The NASDAQ Stock Mark

Filing Documents

• gsbc-20240331x10q.htm (10-Q) — 5271KB
• gsbc-20240331xex31d1.htm (EX-31.1) — 11KB
• gsbc-20240331xex31d2.htm (EX-31.2) — 11KB
• gsbc-20240331xex32.htm (EX-32) — 6KB
• 0001410578-24-000572.txt (&nbsp;) — 23560KB
• gsbc-20240331.xsd (EX-101.SCH) — 99KB
• gsbc-20240331_cal.xml (EX-101.CAL) — 103KB
• gsbc-20240331_def.xml (EX-101.DEF) — 328KB
• gsbc-20240331_lab.xml (EX-101.LAB) — 744KB
• gsbc-20240331_pre.xml (EX-101.PRE) — 549KB
• gsbc-20240331x10q_htm.xml (XML) — 7182KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. GREAT SOUTHERN BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In Thousands, Except Per Share Data) MARCH 31, DECEMBER 31, 2024 2023 (Unaudited) ASSETS Cash $ 90,349 $ 102,529 Interest-bearing deposits in other financial institutions 81,098 108,804 Cash and cash equivalents 171,447 211,333 Available-for-sale securities 465,308 478,207 Held-to-maturity securities 193,366 195,023 Mortgage loans held for sale 10,905 5,849 Loans receivable, net of allowance for credit losses of $ 65,087 – March 2024; $ 64,670 – December 2023 4,586,253 4,589,620 Interest receivable 21,639 21,206 Prepaid expenses and other assets 131,458 106,225 Other real estate owned and repossessions, net 1,042 23 Premises and equipment, net 136,276 138,591 Goodwill and other intangible assets 10,419 10,527 Federal Home Loan Bank stock and other interest-earning assets 16,887 26,313 Current and deferred income taxes 32,176 29,485 Total Assets $ 5,777,176 $ 5,812,402 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits $ 4,773,397 $ 4,721,708 Securities sold under reverse repurchase agreements with customers 72,778 70,843 Short-term borrowings and other interest-bearing liabilities 181,347 252,610 Subordinated debentures issued to capital trust 25,774 25,774 Subordinated notes 74,653 74,579 Accrued interest payable 8,135 6,225 Advances from borrowers for taxes and insurance 6,359 4,946 Accrued expenses and other liabilities 61,954 76,401 Liability for unfunded commitments 7,617 7,487 Total Liabilities 5,212,014 5,240,573 Stockholders' Equity: Capital stock Serial preferred stock, $ .01 par value; authorized 1,000,000 shares; issued and outstanding March 2024 and December 2023 - - 0 - shares — — Common stock, $ .01 par value; authorized 20,000,000 shares; issued and outstanding March 20

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1: BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements of Great Southern Bancorp, Inc. (the "Company" or "Great Southern") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The financial statements presented herein reflect all adjustments which are, in the opinion of management, necessary to fairly present the financial condition, results of operations, changes in stockholders' equity and cash flows of the Company as of the dates and for the periods presented. Those adjustments consist only of normal recurring adjustments. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the full year. The consolidated statement of financial condition of the Company as of December 31, 2023, has been derived from the audited consolidated statement of financial condition of the Company as of that date. Certain information and note disclosures normally included in the Company's annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the "SEC"). Reclassifications Prior period consolidated financial statements are reclassified whenever necessary to conform to the current period presentation. Correction of an Immaterial Error in Prior Period Financial Statements Certain prior period amounts in the Consolidated Statements of Cash Flows have been corrected as di

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