Great Southern Bancorp (GSBC) investor relations material

Executive summary

• Q3 net income was $14.0M, or $1.27 per diluted share, down 21.1% YoY; excluding the non-cash hedge adjustment, net income was $16.5M and diluted EPS was $1.50.

• Q3 NIM was 3.75%, up from 3.72% a year earlier; net loans and deposits declined from year-end while assets rose to $5.82B.

• 9M net income was $47.3M, or $4.27 per diluted share, versus $54.7M and $4.74 in 9M 2025.

Financial highlights

• Q3 net interest income was $50.3M versus $50.8M YoY; the prior-year quarter included $2.0M of accretion from a terminated swap.

• Non-interest income was $3.4M versus $7.1M YoY, including a $4.1M hedge-accounting reduction; excluding it, non-interest income was $7.5M.

• Non-interest expense was $36.3M, up $158K YoY and down from $38.2M QoQ; the sequential decrease reflected no repeat of branch closure and severance charges.

• Q3 provision for credit losses was $674K, driven by unfunded commitments; no loan provision was recorded in Q3 or 9M 2026.

• 9M net interest income was $148.1M, non-interest income $17.8M and non-interest expense $109.3M.

Outlook and guidance

• Nine center consolidations and 66 position reductions are expected to save $4.4M–$4.8M in annual expenses and improve annual pre-tax income by $2.3M–$2.7M from Q4 2026; deposit attrition may offset savings.

• Future effective tax rate is expected at 18.0%–19.5%.

• Redesignated swaps are expected to recover the $3.5M charge through future interest income through May 2028.

• Securities leverage is expected to modestly reduce future NIM because of its narrower spread, while generating positive net interest income at September 30 market rates.

• Loan repayments and refinancing may continue to drive balance volatility; management cited limited visibility and gave no loan growth guidance.