Great Southern Bancorp reported a solid start to 2026, achieving net income of $17.5 million, or $1.58 per diluted share, up from $17.2 million year-over-year. The increase was driven by a robust net interest margin of 3.71%, reflecting effective asset-liability management despite a slight decline in net interest income due to the exit of a terminated interest rate swap. Total loans grew by $99.8 million, primarily in construction and commercial real estate, while nonperforming assets rose modestly to 0.18% of total assets, indicating stable asset quality.
The bank’s total deposits fell by $37.6 million, as funding shifted to Federal Home Loan Bank borrowings. Management anticipates rising noninterest expenses due to deferred IT projects, which could impact profitability in the coming quarters. However, the bank remains focused on disciplined loan origination and expense management to sustain growth.
Investors should note the bank’s commitment to maintaining a flexible share repurchase strategy, with 419,000 shares still authorized for buyback, as it navigates a competitive deposit environment and evolving market conditions.
Source: fool.com