Great Southern Bancorp (GSBC) investor relations material

Executive summary

• Net income for Q3 2025 was $17.8 million ($1.56 per diluted share), up from $16.5 million ($1.41) year-over-year, driven by higher net interest income and lower credit loss provisions, but down from $19.8 million sequentially due to lower non-interest income and higher expenses.

• Core credit and operating results remained strong, with disciplined expense management and stable deposit base.

• Asset quality remained exceptional, with non-performing assets at $7.8 million (0.14% of total assets), down from $9.6 million at year-end 2024.

• Stockholders' equity increased to $632.9 million, reflecting robust capital strength and growth from net income, stock option exercises, and reduced AOCI loss.

• Annualized return on average equity was 11.30% and return on average assets was 1.23%, both higher year-over-year.

Financial highlights

• Net interest income was $50.8 million, up 5.8% year-over-year, with net interest margin improving to 3.72% from 3.42%.

• Non-interest income totaled $7.1 million, up slightly year-over-year, with higher commission and fee income but down sequentially.

• Non-interest expense rose to $36.1 million, up $2.4 million year-over-year, mainly due to higher legal, professional, and technology costs.

• Efficiency ratio was 62.45%, up from 61.34% year-over-year and 59.16% sequentially.

• Effective tax rate for Q3 was 19.7%, up from 18.0% in Q3 2024.

Outlook and guidance

• Loan balances expected to remain stable through year-end, with strong unfunded construction and commercial commitments.

• Modest provision for credit losses anticipated, mainly to cover any net growth or charge-offs.

• Minor, spaced-out rate cuts are not expected to significantly impact net interest margin.

• Operating expenses expected to remain around current levels, with some potential for lower legal/professional fees.

• No further benefit from the terminated interest rate swap in future quarters.