Great Southern Bancorp (GSBC) investor relations material

Executive summary

• Q3 2026 net income was $14.0M, or $1.27 per diluted share, versus $17.8M and $1.56 a year earlier; excluding the non-cash hedge adjustment, net income was $16.5M and diluted EPS was $1.50.

• Net interest margin was 3.75%, up from 3.72% a year earlier; net loans declined, while non-performing assets edged higher QoQ.

• Nine-month 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, down 1.0% YoY; the prior-year quarter included $2.0M of accretion from a terminated interest rate swap.

• Non-interest income was $3.4M versus $7.1M YoY; excluding the $4.1M hedge-accounting adjustment, it was $7.5M.

• Non-interest expense was $36.3M, up $158K YoY; higher technology costs were largely offset by lower personnel expense. Sequential expense declined from $38.2M, which included a $2.1M branch closure and severance charge.

• 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 versus $151.1M; non-interest income was $17.8M versus $21.9M, and non-interest expense was $109.3M versus $105.9M.

Outlook and guidance

• Nine banking-center consolidations and 66 position eliminations are expected to produce $4.4M–$4.8M in annual expense savings and $2.3M–$2.7M in annual pre-tax income improvement beginning Q4 2026; deposit attrition may partly offset savings.

• The effective tax rate is expected to range from 18.0% to 19.5% in future periods.

• Redesignated swaps are expected to generate $3.5M of future net earnings benefit through May 2028; ~$520K per quarter is expected through Q1 2028, plus $170K in Q2 2028.

• The narrower spread on the $400M securities leverage trade is expected to modestly reduce future NIM, while generating positive net interest income at September 30 market rates.

• Management considered a 3.65%–3.70% NIM range reasonable; loan repayment and refinancing activity may continue to drive balance volatility, with no loan growth guidance given.