Great Southern Bancorp reported third quarter 2026 net income of $14.0 million, or $1.27 per diluted share, compared to $17.8 million in the prior-year period. Results were significantly impacted by a $3.5 million one-time, non-cash reclassification charge related to retrospective hedge accounting corrections. Excluding this adjustment, core earnings were $1.50 per share.
Key Highlights
- Net Interest Margin remained resilient at 3.75%, benefiting from the strategic runoff of $300 million in high-cost brokered deposits YTD.
- Total net loans decreased $108.4 million or 2.5% YTD to $4.25 billion, driven by elevated commercial real estate and multi-family loan payoffs.
- Asset quality remains a core strength with non-performing assets representing only 0.18% of total assets and net charge-offs of just $397,000 for the quarter.
- Operating efficiency initiatives included the consolidation of nine banking centers in October 2026, expected to yield $2.3-$2.7 million in annual pre-tax income improvement.