Great Southern Bancorp Q3 2024 Update

TL;DR

GSBC Q3 2024 10-Q filed. Financials look stable, retained earnings up.

AI Summary

Great Southern Bancorp, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and position, including common stock with a par value of $0.01 per share, and shows changes in retained earnings and additional paid-in capital from the previous fiscal year.

Why It Matters

This filing provides investors with a snapshot of Great Southern Bancorp's financial health and operational performance for the third quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 11804430 — Common Stock Shares Outstanding (As of September 30, 2024)
• 11680968 — Common Stock Shares Outstanding (As of December 31, 2023)
• 6650000 — Prepaid Expense and Other Assets (As of September 30, 2024)
• 68000000 — Prepaid Expense and Other Assets (As of December 31, 2023)

Key Players & Entities

• GREAT SOUTHERN BANCORP, INC. (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241106 (date) — Filing Date
• $0.01 (dollar_amount) — Par value of common stock

FAQ

Key Financial Figures

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

Filing Documents

• gsbc-20240930x10q.htm (10-Q) — 6383KB
• gsbc-20240930xex31d1.htm (EX-31.1) — 14KB
• gsbc-20240930xex31d2.htm (EX-31.2) — 13KB
• gsbc-20240930xex32.htm (EX-32) — 7KB
• 0001410578-24-001769.txt ( ) — 26243KB
• gsbc-20240930.xsd (EX-101.SCH) — 99KB
• gsbc-20240930_cal.xml (EX-101.CAL) — 106KB
• gsbc-20240930_def.xml (EX-101.DEF) — 329KB
• gsbc-20240930_lab.xml (EX-101.LAB) — 743KB
• gsbc-20240930_pre.xml (EX-101.PRE) — 550KB
• gsbc-20240930x10q_htm.xml (XML) — 8004KB

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) SEPTEMBER 30, DECEMBER 31, 2024 2023 (Unaudited) ASSETS Cash $ 105,098 $ 102,529 Interest-bearing deposits in other financial institutions 103,267 108,804 Cash and cash equivalents 208,365 211,333 Available-for-sale securities 565,225 478,207 Held-to-maturity securities 189,257 195,023 Mortgage loans held for sale 9,959 5,849 Loans receivable, net of allowance for credit losses of $ 64,915 – September 2024; $ 64,670 – December 2023 4,711,276 4,589,620 Interest receivable 22,262 21,206 Prepaid expenses and other assets 142,685 106,225 Other real estate owned and repossessions, net 263 23 Premises and equipment, net 133,311 138,591 Goodwill and other intangible assets 10,202 10,527 Federal Home Loan Bank stock and other interest-earning assets 17,912 26,313 Current and deferred income taxes 25,804 29,485 Total Assets $ 6,036,521 $ 5,812,402 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits $ 4,697,460 $ 4,721,708 Securities sold under reverse repurchase agreements with customers 75,829 70,843 Short-term borrowings and other interest-bearing liabilities 442,246 252,610 Subordinated debentures issued to capital trust 25,774 25,774 Subordinated notes 74,802 74,579 Accrued interest payable 12,002 6,225 Advances from borrowers for taxes and insurance 9,625 4,946 Accrued expenses and other liabilities 79,746 76,401 Liability for unfunded commitments 6,947 7,487 Total Liabilities 5,424,431 5,240,573 Stockholders' Equity: Capital stock Serial preferred stock, $ .01 par value; authorized 1,000,000 shares; issued and outstanding September 2024 and December 2023 - - 0 - shares — — Common stock, $ .01 par value; authorized 20,000,000 shares; issued and outstand

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 and nine months ended September 30, 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 co

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View this 10-Q filing on SEC EDGAR