GSBC

This article first appeared on GuruFocus. Net Income: $15.8 million or $1.43 per diluted common share, down from $19.8 million or $1.72 per diluted common share in the previous year quarter. Net Interest Income: $49.5 million, down from $51 million in the year-ago quarter. Net Interest Margin: Expanded to 3.76% from 3.68% in the year-ago quarter. Net Loan Balances: Decreased by $148.9 million in the second quarter of 2026. Total Deposits: Decreased by $180.7 million in the first six months of 2026. Nonperforming Assets: 0.17% of total assets, compared to 0.15% at the end of the previous year. Non-Interest Expense: $38.2 million, including one-time costs; $36.1 million excluding one-time costs. Effective Tax Rate: Approximately 15.3% for the second quarter of 2026. Total Assets: Approximately $5.52 billion at the end of the quarter. Stockholders' Equity: $641.6 million, representing 11.6% of total assets. Warning! GuruFocus has detected 8 Warning Sign with GSBC. Is GSBC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 16, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Great Southern Bancorp Inc (NASDAQ:GSBC) reported a net interest margin expansion to 3.76% in Q2 2026, up from 3.68% in the same quarter of the previous year. The company's disciplined funding cost management allowed for margin expansion despite a decrease in net interest income. Non-performing assets remain low at 0.17% of total assets, indicating strong asset quality. The company has a robust lending pipeline with total commitments of $1.07 billion as of June 30, 2026. Great Southern Bancorp Inc (NASDAQ:GSBC) is executing operational improvements, including the consolidation of nine banking centers and workforce reductions, expected to result in significant cost savings starting in Q4 2026. Net income for Q2 2026 decreased to $15.8 million from $19.8 million in the same quarter of the previous year, impacted by one-time expenses. Net loan balances decreased by $148.9 million in Q2 2026, largely due to elevated loan payoff activity. Total deposits decreased by $180.7 million in the first six months of 2026, with a significant decline in broker deposits. Non-interest income for the quarter was $7.4 million, down from $8.2 million in Q2 2025, primarily due to a decline in other income. The company faces a highly competitive lending and funding environment, which may impact future growth and profitability. Q: How do you view the margin outlook for the rest of the year, considering upcoming CD repricing? A: Rex Copeland, CFO, mentioned that while some CDs are maturing, the benefit from repricing might not be substantial. The margin expanded slightly in the first half of the year, and they expect it to remain stable, with no significant changes anticipated. Q: Can you provide insights on loan growth expectations for the second half of the year? A: Joseph Turner, CEO, stated that predicting loan growth is challenging due to the competitive environment and customer options. They focus on maintaining high-quality loans and competing for new business, but do not provide specific guidance due to the unpredictability of payoffs and originations. Q: What was the rationale behind consolidating nine locations and reducing headcount? A: Joseph Turner explained that the decision was part of ongoing operational evaluations to improve efficiency. They constantly analyze costs and customer traffic patterns, and as technology evolves, they aim to align operations with customer preferences. This is part of a long-term strategy to optimize their banking center network. Q: How do you expect non-interest expenses to trend following the branch consolidations? A: Rex Copeland indicated that while the consolidation will lead to savings, ongoing investments in technology and other initiatives will offset some of these savings. They anticipate some reduction in expenses starting in the fourth quarter, but not the full amount of the projected savings. Q: What are the potential uses for the capital being generated, considering high capital ratios? A: Joseph Turner mentioned that potential uses include continued share repurchases, increasing the quarterly dividend, or issuing special dividends. They aim to deploy capital in ways that best benefit shareholders, while maintaining a conservative approach to acquisitions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Great Southern Bancorp, Inc.? Here are five stocks we like better. Q2 earnings fell to $15.8 million, or $1.43 per share, from $19.8 million a year earlier, as one-time costs tied to branch consolidations and workforce reductions weighed on results. Management said the core banking franchise remained resilient despite a highly competitive environment. Net interest margin improved to 3.76% even though net interest income declined year over year, helped by lower funding costs and the redemption of subordinated notes. However, management expects margin pressure to remain competitive and sees a mostly stable outlook. Loans and deposits both declined in the quarter, driven by higher loan payoffs and strategic runoff of brokered deposits. Credit quality stayed strong, and the bank said branch consolidations should generate about $4.4 million to $4.8 million in annual expense savings starting in Q4 2026. Great Southern Bancorp (NASDAQ:GSBC) reported lower second-quarter earnings as one-time costs tied to branch consolidations and workforce reductions weighed on results, while management said the company’s core banking metrics remained sound in a competitive lending and funding environment. The Springfield, Missouri-based bank reported preliminary net income of $15.8 million, or $1.43 per diluted common share, for the quarter ended June 30, 2026. That compared with $19.8 million, or $1.72 per diluted common share, in the year-ago quarter, and $17.5 million, or $1.58 per diluted share, in the first quarter of 2026. → 3 Space Stocks That Could Outshine SpaceX After Its IPO For the first half of 2026, preliminary net income totaled $33.3 million, or $2.99 per diluted common share, compared with $36.9 million, or $3.18 per diluted share, in the first half of 2025. President and Chief Executive Officer Joe Turner said the quarter reflected “the strength and resilience” of the company’s core banking franchise, despite a “highly competitive operating environment.” He said results were negatively affected by one-time expenses related to the planned consolidation of nine banking centers and staffing reductions in other operational areas. → These 3 Water ETFs Could be Quiet Winners From Infrastructure Spending Net interest income totaled $49.5 million in the second quarter, down from $51.0 million in the same period last year but up from $48.3 million in the first quarter of 2026. Chief Financial Officer Rex Copeland said the year-over-year decline was primarily due to a $2.0 million reduction in quarterly interest income associated with a previously terminated interest rate swap. The amortization tied to that swap ended in October 2025. Copeland also cited lower loan balances and lower market interest rates, which affected variable-rate loans and newer fixed-rate originations. → Why ASML’s AI Monopoly Is Still Getting Stronger Those pressures were partly offset by lower interest expense on deposit accounts and borrowings, which management attributed to funding cost discipline and the repricing of liabilities. The company also had no interest expense on subordinated notes in the quarter because those notes were redeemed in June 2025. The annualized net interest margin rose to 3.76% in the second quarter, compared with 3.68% a year earlier and 3.71% in the first quarter. Copeland noted that the second-quarter figure included about $393,000 of interest income related to the collection of previously unbooked interest on a single relationship. During the question-and-answer portion of the call, Copeland said he currently leans toward a stable margin outlook, citing intense competition for both loans and funding. He said some certificates of deposit are scheduled to mature in the third quarter, but because those balances have repriced multiple times, he does not expect a substantial benefit. Net loan balances decreased by $148.9 million during the second quarter, a decline management attributed largely to elevated loan payoff activity. Turner said the decline was most pronounced in commercial real estate and construction categories. Compared with Dec. 31, 2025, net loans decreased $49.1 million to $4.31 billion. Copeland said gross loans receivable stood at $4.38 billion at quarter-end. Over the first six months, repayments in commercial real estate and multifamily loans were partially offset by growth in construction balances. Turner said loan trends remain difficult to forecast because borrower repayments can significantly influence period-to-period results. He said the company’s broader lending pipeline remained “robust,” with total commitments of $1.07 billion at June 30, including $531.5 million in the unfunded portion of closed construction loans. Asked by KBW analyst Damon DelMonte whether loan growth could turn positive in the back half of the year, Turner declined to provide guidance. “It’s really, really difficult to predict,” Turner said, adding that Great Southern continues to compete to retain and win business while maintaining conservative underwriting standards. In response to a question from Brean Capital analyst John Rodis, Turner said origination activity in the second quarter was lower than in the first quarter and possibly lower than over the last year, while payoff activity was “substantially higher” than in the first quarter. Total deposits ended the quarter at approximately $4.30 billion, down $143.1 million from March 31 and down $180.7 million over the first six months of 2026. Turner said about $88 million of the first-half decline came from brokered deposits, reflecting a strategic choice to use Federal Home Loan Bank borrowing given pricing pressures in the brokered market. Interest-bearing checking balances decreased by about $92 million in the first six months, mostly in higher-rate accounts, while increases in non-interest-bearing checking balances roughly offset declines in the retail time deposit portfolio. At June 30, the company’s deposit mix included: $2.20 billion in interest-bearing checking accounts; $877.4 million in non-interest-bearing checking accounts; $651.5 million in time deposits; and $575.6 million in brokered deposits. Copeland said uninsured deposits were estimated at $665 million, or 15.5% of total deposits. The company also reported secured borrowing line availability of $1.23 billion at the Federal Home Loan Bank and $319.6 million at the Federal Reserve Bank, along with $180 million in cash and cash equivalents. Non-interest expense rose to $38.2 million from $35.0 million in the prior-year quarter and $34.8 million in the first quarter. Excluding one-time costs tied to branch consolidation and workforce reductions, non-interest expense was $36.1 million. The one-time costs totaled $2.1 million and included a $1.4 million valuation allowance on four owned locations, $561,000 in severance costs and $163,000 in remaining lease expense for a loan production office expected to close at the end of July. Copeland said the severance costs related to 66 planned position eliminations. Management said the consolidations and workforce reductions are expected to produce approximately $4.4 million to $4.8 million in annual non-interest expense savings beginning in the fourth quarter of 2026. After factoring in expected customer deposit attrition and replacement funding costs, the actions are expected to improve annual pre-tax income by approximately $2.3 million to $2.7 million beginning in the fourth quarter. Turner said the bank continually evaluates its branch network based on costs and customer traffic patterns. He said Great Southern has closed 50 or more banking centers over roughly the past 15 years and will continue evaluating opportunities as customer behavior and technology evolve. Management described credit quality as strong. Non-performing assets totaled $9.4 million, or 0.17% of total assets, at June 30, compared with $10.1 million, or 0.18%, at March 31 and $8.1 million, or 0.15%, at Dec. 31, 2025. Non-performing assets and potential problem loans combined totaled $10.6 million. The company recorded a $909,000 charge-off on a multifamily loan transferred to foreclosed assets during the quarter, resulting in net charge-offs of $819,000. Turner described the matter as an “idiosyncratic situation” tied to borrower-specific circumstances and said management does not view it as signaling broader migration in the portfolio. Great Southern did not record a provision expense on its outstanding loan portfolio during the three or six months ended June 30, though it recognized an $8,000 provision for unfunded commitments in the second quarter. The allowance for credit losses remained stable at 1.46% of total loans. Total stockholders’ equity was $641.6 million at quarter-end, equal to 11.6% of total assets. Book value was $58.95 per common share, up from $57.50 at Dec. 31, 2025. During the quarter, the company repurchased 114,000 shares at an average price of $68.39 and had approximately 304,000 shares remaining under its repurchase authorization. Turner said capital allocation will remain an important topic for the board, noting that the company is generating capital and already has high capital ratios. He said the most likely uses include continued share repurchases, increasing the quarterly dividend or paying a special dividend. Great Southern Bancorp, Inc (NASDAQ: GSBC) is the bank holding company for Great Southern Bank, a full-service commercial bank headquartered in Springfield, Missouri. Through its subsidiary, the company provides a broad spectrum of financial products and services designed to meet the needs of individuals, small and mid-sized businesses, and professional clients across its regional footprint. Great Southern Bank's core business activities include deposit-taking, lending and treasury management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Great Southern Bancorp Q2 Earnings Call Highlights" was originally published by MarketBeat. 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Great Southern Bancorp (GSBC) came out with quarterly earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.38 per share. This compares to earnings of $1.72 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.77%. A quarter ago, it was expected that this bank holding company would post earnings of $1.27 per share when it actually produced earnings of $1.58, delivering a surprise of +24.41%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Great Southern Bancorp, which belongs to the Zacks Financial - Savings and Loan industry, posted revenues of $56.87 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.28%. This compares to year-ago revenues of $59.17 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Great Southern Bancorp shares have added about 25% since the beginning of the year versus the S&P 500's gain of 10.2%. While Great Southern Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Great Southern Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.42 on $56.1 million in revenues for the coming quarter and $5.84 on $223.4 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Southern Missouri Bancorp (SMBC), is yet to report results for the quarter ended June 2026. This bank holding company is expected to post quarterly earnings of $1.65 per share in its upcoming report, which represents a year-over-year change of +18.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Southern Missouri Bancorp's revenues are expected to be $51.7 million, up 8.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Great Southern Bancorp, Inc. (GSBC) : Free Stock Analysis Report Southern Missouri Bancorp, Inc. (SMBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Preliminary Financial Results and Business Update for the Quarter Ended June 30, 2026 SPRINGFIELD, Mo., July 15, 2026 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (the “Company”) (NASDAQ:GSBC), the holding company for Great Southern Bank (the “Bank”), today reported that preliminary earnings for the three months ended June 30, 2026, were $1.43 per diluted common share ($15.8 million net income) compared to $1.72 per diluted common share ($19.8 million net income) for the three months ended June 30, 2025. The 2026 second quarter results were negatively impacted by non-recurring expenses recorded in the period related to the consolidation of certain banking centers and other operational areas, which are discussed below. For the quarter ended June 30, 2026, annualized return on average common equity was 9.83%, annualized return on average assets was 1.12%, annualized net interest margin was 3.76% and the efficiency ratio was 67.21%, compared to 12.81%, 1.34%, 3.68% and 59.16%, respectively, for the quarter ended June 30, 2025. Excluding the non-recurring expenses referenced above, for the quarter ended June 30, 2026, net income was $17.4 million, earnings per diluted common share were $1.57, annualized return on average common equity was 10.82%, annualized return on average assets was 1.24%, and the efficiency ratio was 63.47%. A reconciliation of these non-GAAP calculations is detailed in “Non-GAAP Financial Measures” below. Key Results: Net Interest Income: Net interest income for the second quarter of 2026 decreased $1.5 million (2.9%) to $49.5 million compared to $51.0 million for the second quarter of 2025, largely driven by the completion of accounting recognition in October 2025 of interest income from a previously terminated interest rate swap. This was partially offset by lower interest expense on deposit accounts and other borrowings. Annualized net interest margin was 3.76% for the quarter ended June 30, 2026, compared to 3.68% for the quarter ended June 30, 2025, and 3.71% for the quarter ended March 31, 2026. Asset Quality: Non-performing assets and potential problem loans totaled $10.6 million at June 30, 2026, an increase of $1.1 million from $9.5 million at December 31, 2025. At June 30, 2026, non-performing assets were $9.4 million (0.17% of total assets), an increase of $1.3 million from $8.1 million (0.15% of total assets) at December 31, 2025. See “Asset Quality” below. Loans: Total net loans, excluding mortgage loans held for sale, decreased $49.1 million, or 1.1%, from $4.36 billion at December 31, 2025 to $4.31 billion at June 30, 2026. This decrease was primarily driven by decreases in commercial real estate loans and other residential (multi-family) loans, partially offset by an increase in construction loans. The Bank experienced an increased amount of loan prepayments in the 2026 second quarter compared to a lower amount of prepayments in the first quarter of 2026. Liquidity: The Company had secured borrowing line availability at the FHLBank and Federal Reserve Bank of $1.23 billion and $319.6 million, respectively, at June 30, 2026. Capital: The Company’s capital position remained strong as of June 30, 2026, significantly exceeding the “well-capitalized” thresholds established by regulatory agencies. See “Capital” below. Certain Income and Expense Items Impacting Second Quarter 2026 Results: During the three months ended June 30, 2026, there were certain income and expense items that impacted the Company’s results of operations. Interest income on loans increased $393,000 due to collection of unbooked interest on one relationship. This relationship has recently provided interest payments semi-annually, but we do not have assurances of future payments or amounts, if payments are made. Other non-interest income included $176,000 due to fees received on the origination of back-to-back interest rate swaps as part of a new commercial real estate loan transaction. These types of fees occur sporadically as part of our operations. In June 2026, the Company decided to consolidate operations of nine banking centers into other nearby Great Southern banking center locations. See “Business Initiatives” below. Accounting rules require that certain costs and expected losses be recorded immediately, while any expected gains are not recorded until realized. Upon evaluating the carrying value and estimated market value of each affected location (all of which are owned facilities), a valuation allowance of $1.4 million was recognized in the second quarter of 2026 related to four of the locations. The Company currently does not expect to ultimately realize losses on the sale of the other five properties and expects the eventual aggregate selling price of all affected properties will exceed the combined carrying value of the affected locations (approximately $12.6 million).  In addition to the valuation allowance, severance expense of $234,000 was recognized in the second quarter of 2026 related to the termination of 39 employees due to the closure of the nine banking centers.The Company also completed a limited number of other operational workforce reductions in the quarter, including the closure of two commercial lending locations. These reductions resulted in the recognition of $327,000 in severance costs related to 27 employees along with $163,000 in remaining lease expense associated with the loan production office.The $2.1 million of expenses outlined above are included in the Consolidated Statements of Income under “Noninterest Expense – Net Occupancy and Equipment Expense” and “Noninterest Expenses – Salaries and employee benefits,” respectively. Selected Financial Data: Joseph W. Turner, President and CEO of Great Southern, commented: "Our second quarter performance reflects continued strong results within our core banking franchise. Throughout the quarter, we remained focused on the fundamentals that have consistently guided our long-term success, including sound credit underwriting, thoughtful balance sheet management, and prudent expense control. We reported preliminary net income of $15.8 million, or $1.43 per diluted common share, for the second quarter of 2026, compared to $19.8 million, or $1.72 per diluted common share, for the second quarter of 2025. As outlined above, our second quarter results were inclusive of one-time expenses associated with branch consolidation and workforce reduction initiatives. For the six months ended June 30, 2026, preliminary net income totaled $33.3 million, or $2.99 per diluted common share, compared to $36.9 million, or $3.18 per diluted common share, in the first half of 2025.” Turner noted, "Net interest income remained strong in the quarter, a result of prudent asset-liability management and disciplined pricing on earning assets and funding sources. Our net interest margin was 3.76% in the quarter, compared to 3.68% in the second quarter of 2025. Our pricing discipline helped mitigate the absence of $2.0 million in quarterly interest income recorded in the prior year period from a previously terminated interest rate swap, as well as lower earning assets, given the loan balance decline in the second quarter of 2026. Though our prioritization of net interest income will remain, credit and pricing discipline may temper near-term earnings given our focus on long-term stockholder returns.” Turner continued, “Turning to our balance sheet, and as discussed in the prior quarter, period-to-period loan trends are influenced significantly by loan repayments from our borrowers. Elevated payoff activity in the second quarter of 2026 led to a $148.9 million decline in loan balances, compared to balances at the end of the 2026 first quarter. Despite the increased payoff volume, we remain committed to an origination strategy anchored by conservative credit and underwriting standards. As it relates to funding, we were pleased to see continued expansion within our core non-interest-bearing checking portfolios, reflecting the strength of our long-standing customer relationships. Additionally, as total earning assets moderated during the quarter, we were able to reduce higher-cost wholesale funding. These actions supported the level of our net interest margin while preserving our balance sheet flexibility.” Turner added, "Asset quality remained very strong through the first half of 2026. Total non-performing assets were $9.4 million, or 0.17% of total assets, as of June 30, 2026. Included in this total is a $1.8 million multi-family loan transferred to foreclosed assets in the quarter. This loan experienced idiosyncratic issues which resulted in a $909,000 charge off upon its transfer to foreclosed assets. Turner further commented, "As outlined above, we announced the consolidation of nine banking centers into other nearby locations along with the elimination of 66 positions across various divisions in the Company. Though these decisions resulted in the realization of several non-recurring expenses in the second quarter of 2026, we’re confident they will allow for better alignment with our customer base and improved returns for our stockholders, going forward. We expect the operational efficiencies created by these actions, the impact of which should begin to be realized in the fourth quarter of 2026, will produce an increase in annual pre-tax income of over $2 million.” "Great Southern enters the second half of 2026 in a strong position, with robust capital and liquidity levels and a prudent balance sheet posture. As of June 30, 2026, tangible common equity was 11.47% of tangible assets and book value per common share increased to $58.95. Looking ahead, we remain focused on protecting asset quality, executing thoughtful operational improvements, and building long-term value for our stockholders," Turner concluded. NET INTEREST INCOME Net interest income for the second quarter of 2026 decreased $1.5 million (2.9%) to $49.5 million, compared to $51.0 million for the second quarter of 2025. This decrease was driven primarily by the $2.0 million net reduction in quarterly interest income associated with a previously terminated interest rate swap (income recognition ended on October 6, 2025). Additionally, compared to the year-ago quarter, interest income declined due to lower loan balances and lower market rates, which primarily impacted the interest rates on existing variable-rate loans and newly originated fixed-rate loans. Mostly offsetting the decrease in interest income was reduced interest expense, due to the strategic management of maturing/repricing brokered deposits and interest-bearing demand deposits. Also, there was no interest expense on subordinated notes in the quarter ended June 30, 2026, as those notes were redeemed in June 2025. Annualized net interest margin was 3.76% in the second quarter of 2026, compared to 3.68% in the same period of 2025 and 3.71% in the first quarter of 2026. The average interest rate spread was 3.24% for the three months ended June 30, 2026, compared to 3.09% for the three months ended June 30, 2025 and 3.20% for the three months ended March 31, 2026. The average yield on total interest-earning assets decreased from 5.84% in the 2025 second quarter to 5.51% in the 2026 second quarter, with the average yield on loans decreasing 37 basis points, the average yield on investment securities increasing two basis points and the average yield on other interest earning assets (primarily funds held at the Federal Reserve Bank) decreasing 80 basis points. The average rate paid on total interest-bearing liabilities decreased from 2.75% in the 2025 second quarter to 2.27% in the 2026 second quarter, with the average rate paid on interest-bearing demand and savings deposits, time deposits and brokered deposits decreasing 22 basis points, 53 basis points and 61 basis points, respectively. The average rate paid on short-term borrowings decreased 67 basis points. Market interest rates, primarily the federal funds rate and SOFR rates, declined in the fourth quarter of 2025, and remained lower through the first half of 2026. There were no federal funds rate cuts in the first half of 2026, but there were federal funds rate cuts in September, October, and December of 2025, totaling 75 basis points. This market rate decline reduced the average yield on loans, though the impact was tempered as cash flows from lower-rate fixed rate loans originated a few years ago were deployed into residential and commercial real estate loans with comparably higher rates of interest. The decline in market interest rates also resulted in lower average rates paid on deposits and borrowings, compared to the prior-year second quarter and the first quarter of 2026. To mitigate exposure to the risk of fluctuations in future cash flows resulting from changes in interest rates (primarily related to falling interest rates), the Company has strategically utilized derivative financial instruments - primarily interest rate swaps - as part of its interest rate risk management strategy. The following table presents, for the periods indicated, the effect of cash flow hedge accounting included in interest income in the consolidated statements of income: The Company entered into an interest rate swap in October 2018, which was terminated in March 2020. Upon termination, the Company received $45.9 million, inclusive of accrued but unpaid interest, from its swap counterparty. The net amount, after deducting accrued interest and deferred income taxes, was accreted to interest income on loans monthly until the originally scheduled termination date of October 6, 2025. With this date having passed, the Company no longer has the benefit of that income from the terminated swap. At June 30, 2026, the Company had two active interest rate swaps with a combined notional amount of $400 million. These swaps resulted in a reduction of interest income of $1.0 million and $1.8 million in the three months ended June 30, 2026 and 2025, respectively. Market rates for time deposits for much of 2024 were elevated but have declined as the FOMC cut the federal funds rate by 100 basis points in late 2024, 25 basis points in the third quarter of 2025 and 50 basis points in the fourth quarter of 2025. As of June 30, 2026, time deposit maturities (including brokered time deposits) over the next 12 months were as follows: within three months — $630.7 million, with a weighted-average rate of 3.38%; within three to six months — $263.2 million, with a weighted-average rate of 3.10%; and within six to twelve months — $25.5 million, with a weighted-average rate of 1.40%. Based on time deposit market rates in June 2026, overall average replacement rates for maturing time deposits originated through our retail branch system are likely to be approximately 2.70 - 3.20%, depending on term. Brokered time deposit rates were generally at or above 3.90% at the end of June 2026. NON-INTEREST INCOME For the quarter ended June 30, 2026, non-interest income decreased $837,000, to $7.4 million, when compared to the quarter ended June 30, 2025, primarily as a result of the following items: Other income: Other income decreased $897,000 compared to the prior-year second quarter. In the second quarter of 2025, the Company recorded income of $1.1 million related to exits from, and other activities of, its investments in tax credit partnerships, which was not repeated in the current quarter. Commissions: Commission income increased $230,000 compared to the prior-year second quarter. The increase was due to annuity sales that were approximately 94% higher in the 2026 period compared to the 2025 period. Yields on these products have been attractive to many of our customers. NON-INTEREST EXPENSE For the quarter ended June 30, 2026, non-interest expense increased $3.2 million, to $38.2 million, when compared to the quarter ended June 30, 2025, primarily as a result of the following items: Net occupancy and equipment expenses: Net occupancy and equipment expenses increased $2.2 million, or 26.7%, from the prior-year second quarter. In June 2026, the Company decided to consolidate operations of nine banking centers into other nearby Great Southern banking center locations and close one leased facility which served as the Company’s Omaha, Neb. loan production office. The Company evaluated the carrying value of the affected owned premises (totaling approximately $12.6 million) to determine if any impairment of the value of these premises was warranted and recorded a valuation allowance of $1.4 million related to certain affected premises, furniture, fixtures and equipment of the owned locations at June 30, 2026. During the three months ended June 30, 2026, the Company also recorded expenses totaling $163,000 related to contractual future lease payments for the Omaha leased lending facility. For additional information on these consolidations, see “Business Initiatives” below.Additionally, various components of computer license and support expenses, related to upgrades of core systems capabilities and disaster recovery site, collectively increased by $333,000 in the second quarter of 2026 compared to the second quarter of 2025. Salaries and employee benefits: Salaries and employee benefits increased $686,000, or 3.4%, from the prior-year second quarter. The increase was primarily due to the Company recording $561,000 in expenses related to severance pay for employees affected by the consolidations in banking centers and other operational areas. See “Business Initiatives” below. The Company’s efficiency ratio for the quarter ended June 30, 2026, was 67.21% compared to 59.16% for the same quarter in 2025. The Company’s ratio of non-interest expense to average assets was 2.72% for the three months ended June 30, 2026, compared to 2.37% for the three months ended June 30, 2025. These increased percentages were largely due to the one-time expenses previously discussed. Average assets for the three months ended June 30, 2026, decreased $298.6 million, or 5.0%, compared to the three months ended June 30, 2025, primarily due to the decline in the average balance of net loans. INCOME TAXES For the three months ended June 30, 2026 and 2025, the Company's effective tax rate was 15.3% and 18.5%, respectively. For the six months ended June 30, 2026 and 2025, the Company's effective tax rate was 17.1% and 19.2%, respectively. These effective rates were below the statutory federal tax rate of 21.0%, due primarily to the utilization of certain investment tax credits and the Company’s tax-exempt investments and tax-exempt loans, which reduced the Company’s effective tax rate. The effective rates in the 2026 periods also decreased due to a higher-than-normal level of deductions related to the significant amount of stock option exercises by the Company’s employees. The Company’s effective tax rate may fluctuate in future periods as it is impacted by the level and timing of the Company’s utilization of tax credits, the level of tax-exempt investments and loans, the amount of taxable income in various state jurisdictions and the overall level of pre-tax income. State tax expense estimates continually evolve as taxable income and apportionment between states are analyzed. The Company currently expects its effective tax rate (combined federal and state) will be approximately 18.0% to 19.5% in future periods. CAPITAL As of June 30, 2026, total stockholders’ equity was $641.6 million, representing 11.6% of total assets and a book value of $58.95 per common share. This compares to total stockholders’ equity of $636.1 million, or 11.4% of total assets, and a book value of $57.50 per common share at December 31, 2025. The $5.5 million increase in stockholders’ equity from December 31, 2025, was primarily driven by $33.3 million in net income and an $11.9 million increase from stock option exercises, partially offset by $9.4 million in cash dividends declared on the Company’s common stock, $24.8 million in common stock repurchases, and an increase in unrealized losses on investments and interest rate swaps. The increased unrealized losses on the Company’s available-for-sale investment securities and interest rate swaps, which totaled $37.7 million and $32.2 million (net of taxes) at June 30, 2026 and December 31, 2025, respectively, decreased stockholders’ equity by $5.5 million during the six months ended June 30, 2026. These net unrealized losses primarily resulted from increased intermediate-term market interest rates, which generally decreased the fair value of the investment securities and interest rate swaps. In 2026, market interest rates and interest rate expectations for future periods decreased early in the first quarter before increasing significantly since March to levels higher than those at December 31, 2025, ultimately resulting in decreases in the fair value of the Company’s investment securities and interest rate swaps during the six months ended June 30, 2026. The Company had unrealized losses on its portfolio of held-to-maturity investment securities, which totaled $17.4 million and $16.6 million at June 30, 2026 and December 31, 2025, respectively, that were not included in its total capital balance. If unrealized losses on held-to-maturity securities were included in capital (net of taxes) at June 30, 2026 and December 31, 2025, they would have decreased total stockholder’s equity at those dates by $13.1 million and $12.5 million, respectively. These amounts were equal to 2.0% of total stockholders’ equity of $641.6 million at June 30, 2026 and $636.1 million at December 31, 2025. In April 2025, the Company’s Board of Directors authorized the purchase, from time to time, of up to one million additional shares of the Company’s common stock. As of June 30, 2026, approximately 304,000 shares remained available under this stock repurchase authorization. During the three months ended June 30, 2026, the Company repurchased 114,624 shares of its common stock at an average price of $68.39, and the Company’s Board of Directors declared a regular quarterly cash dividend of $0.43 per common share, which, combined, reduced stockholders’ equity by $12.5 million. During the three months ended June 30, 2026, the Company experienced stock option exercises of 125,221 shares of its common stock at an average price of $54.17, which increased stockholders’ equity by $7.3 million. During the six months ended June 30, 2026, the Company repurchased 383,288 shares of its common stock at an average price of $64.29, and the Company’s Board of Directors declared regular quarterly cash dividends totaling $0.86 per common share, which, combined, reduced stockholders’ equity by $34.1 million. During the six months ended June 30, 2026, the Company experienced stock option exercises of 205,480 shares of its common stock at an average price of $52.89, which increased stockholders’ equity by $11.9 million. LIQUIDITY AND DEPOSITS Liquidity is a measure of the Company’s ability to generate sufficient cash to meet present and future financial obligations in a timely manner. The Company’s primary sources of funds are customer deposits, FHLBank advances, other borrowings, loan repayments, unpledged securities, proceeds from sales of loans and available-for-sale securities and funds provided from operations. The Company utilizes some or all of these sources of funds depending on the comparative costs and availability at the time. The Company has, from time to time, chosen not to pay rates on deposits as high as the rates paid by certain of its competitors and, at management’s discretion, supplements deposits with alternative sources of funds. Management believes that the Company maintains overall liquidity sufficient to satisfy its depositors’ requirements and meet its borrowers’ credit needs. At June 30, 2026, the Company had the following available secured lines and on-balance sheet liquidity: During the six months ended June 30, 2026, the Company’s total deposits decreased $180.7 million. Interest-bearing checking balances decreased $91.8 million (4.0%), primarily in certain money market accounts, and non-interest-bearing checking balances increased $35.9 million (4.3%). Time deposits generated through the Company’s banking center and corporate services networks decreased $36.9 million (5.4%). Brokered deposits, obtained through a variety of sources, decreased $87.8 million (13.2%). As total assets (primarily loans receivable) decreased, the Company elected not to replace some of its maturing brokered deposits. Most of this deposit decrease occurred in the second quarter of 2026, as total deposits decreased $143.1 million in the three months ended June 30, 2026. At June 30, 2026, the Company had the following deposit balances: At June 30, 2026, the Company estimated that its uninsured deposits, excluding deposit accounts of the Company’s consolidated subsidiaries, were approximately $665.6 million (15.5% of total deposits). LOANS Total net loans, excluding mortgage loans held for sale, decreased $49.1 million, or 1.1%, from $4.36 billion at December 31, 2025 to $4.31 billion at June 30, 2026. This decrease was primarily driven by decreases in commercial real estate loans of $73.3 million and other residential (multi-family) loans of $39.9 million, partially offset by an increase in construction loans of $53.2 million. Compared to March 31, 2026, net loans decreased $148.9 million. The pipeline of the unfunded portion of loans and formal loan commitments remained strong, with the largest portion of these unfunded balances consisting of the unfunded portion of outstanding construction loans ($531.5 million at June 30, 2026). See the table below. For additional details about the Company’s loan portfolio, please refer to the quarterly loan portfolio presentation available on the Company’s Investor Relations website under “Presentations.” Loan commitments and the unfunded portion of loans at the dates indicated were as follows (in thousands): PROVISION FOR CREDIT LOSSES AND ALLOWANCE FOR CREDIT LOSSES During both the three months and six months ended June 30, 2026 and 2025, the Company did not record a provision expense on its portfolio of outstanding loans. Total net charge offs were $819,000 for the three months ended June 30, 2026, compared to total net recoveries of $111,000 during the same period in the prior year. Total net charge offs were $806,000 for the six months ended June 30, 2026, compared to total net recoveries of $55,000 during the same period in the prior year. During the quarter ended June 30, 2026, the Company recorded a provision for losses on unfunded commitments of $8,000, compared to a negative provision for losses on unfunded commitments of $110,000 for the same period in 2025. For the six months ended June 30, 2026, the Company recorded a negative provision for losses on unfunded commitments of $923,000, compared to a negative provision for losses on unfunded commitments of $458,000 for the same period in 2025. The Bank’s allowance for credit losses as a percentage of total loans was 1.46% at both June 30, 2026 and December 31, 2025, compared to 1.43% at March 31, 2026. Management considers the allowance for credit losses adequate to cover losses inherent in the Bank’s loan portfolio at June 30, 2026, based on recent reviews of the portfolio and current economic conditions. However, if challenging economic conditions persist or worsen, or if management’s assessment of the loan portfolio changes, additional provisions for credit losses may be required, which could adversely impact the Company’s future financial performance. ASSET QUALITY At June 30, 2026, non-performing assets were $9.4 million, an increase of $1.3 million from $8.1 million at December 31, 2025, and a decrease of $676,000 compared to March 31, 2026. Non-performing assets as a percentage of total assets were 0.17% at June 30, 2026, compared to 0.15% at December 31, 2025. Activity in the non-performing loan categories during the quarter ended June 30, 2026, was as follows: Compared to March 31, 2026, non-performing loans decreased $2.4 million. The non-performing one- to four-family residential category consisted of seven loans at June 30, 2026, three of which were added during the current quarter. The largest relationship in the one- to four-family residential category totaled $386,000 at June 30, 2026. This relationship was added to non-performing loans in 2024 and is collateralized by a single-family residential property in southern Iowa. During the three months ended June 30, 2026, a single loan totaling $1.8 million ($2.7 million at March 31, 2026) which had been collateralized by an apartment in eastern Iowa was transferred from the non-performing other residential (multi-family) category to foreclosed assets. Upon transfer to foreclosed assets the Company recorded a loan charge-off of $909,000 on the property, based upon an updated independent appraisal of the asset. Activity in the potential problem loans categories during the quarter ended June 30, 2026, was as follows: Compared to March 31, 2026, potential problem loans decreased $81,000. At June 30, 2026, the one- to four-family residential category consisted of 12 loans, one of which was added to potential problem loans during the current quarter. The largest relationship in the one- to four-family category totaled $256,000 and was added in the third quarter of 2025. This relationship is collateralized by a single-family residential property in the St. Louis area. At June 30, 2026, the consumer category of potential problem loans consisted of 18 loans, five of which were added during the current quarter. Activity in the foreclosed assets and repossessions categories during the quarter ended June 30, 2026 was as follows: Compared to March 31, 2026, foreclosed assets increased $1.8 million. The largest asset in the commercial real estate category, totaling $6.5 million, consisted of an office building located in Clayton, Mo. This asset was foreclosed upon in the fourth quarter of 2024. In the three months ended June 30, 2026, the Company capitalized $582,000 in improvements to the property. As mentioned in previous filings, the Company reported that it expected such improvements to ultimately cost approximately $3 million and take several months to complete. It is expected that such additional costs will be incurred and capitalized on this asset throughout the remainder of 2026. The majority of this expenditure represents the addition of fire suppression sprinklers throughout the building and other significant improvements. Based on an independent valuation (which utilized sales and current market rents in the area for similarly improved buildings), Bank management does not currently anticipate any loss on this asset and decided to move forward with implementing these improvements. At June 30, 2026, the other residential (multi-family) category, totaling $1.8 million, consisted of one relationship that was transferred from non-performing loans in the current quarter. This asset, mentioned above in the non-performing loans discussion, consisted of an apartment complex in eastern Iowa. The borrower was no longer in compliance with their loan agreement and, ultimately, the property was placed into foreclosure. The Company expects that it will make significant repairs and improvements to this property. Such improvements are expected to cost approximately $800,000 and take several months to complete. The Company expects to capitalize these expenditures, and these costs were contemplated as part of the charge-off analysis when the asset was transferred to foreclosed assets. The one- to four-family residential category of foreclosed assets previously included one property consisting of a condominium in the Sarasota, Fla. area, which was added during the three months ended March 31, 2026. This property was sold in the three months ended June 30, 2026, with the Company realizing a small gain on the sale. BUSINESS INITIATIVES The Company maintains its focus on technology initiatives and advancements with its current core provider and key partners. These investments in both foundational projects and a heightened customer experience continue to foster an organizational emphasis on innovation and forward progress. Great Southern launched a partnership with Greenlight, a debit card and financial learning app for kids and teens, in April 2026. The partnership offers a free Greenlight membership to Great Southern customers and is part of the Company’s ongoing efforts to expand both technology and family banking offerings. Also in April, the Company’s fully redesigned website www.GreatSouthernBank.com, launched. The website, representative of Great Southern’s continued technology investments, offers customers and interested parties an improved online experience with up-to-date content, improved navigation, easier access to financial education information and more. In June 2026 the Company decided, as part of its regular operational reviews, to consolidate nine banking centers into other Great Southern locations and eliminate a total of 66 positions across various Company divisions, including those at the impacted banking centers. These decisions were part of routine business maintenance as the organization evaluated products, services and workforce to align with changing market dynamics. Of the nine consolidating banking centers, one is in Arkansas, one is in Kansas, two are in Iowa and five are in Missouri (three in the Springfield metro area). Affected banking centers will close October 1, except for the Arkansas location, which will close September 25. All other consolidated staff positions outside of the banking centers have an effective date of September 30. As a result of these planned consolidations, certain expenses were required to be recorded in the 2026 second quarter financial statements. A list of the affected banking center locations is available on our website www.GreatSouthernBank.com. The banking center consolidations and the workforce reductions are expected to result in approximately $2.3 - $2.7 million in annual pre-tax income improvement, beginning in the fourth quarter of 2026. This estimate incorporates compensation, facility and other non-interest expense savings, expected to be $4.4 - $4.8 million annually. This expense savings is expected to be partially offset by a projected amount of customer deposit attrition over time related to the branch closures, resulting in additional interest expense on alternative funding sources along with reduced non-interest income generated from these deposit accounts. If deposit account attrition is ultimately greater than our estimates, it may negatively impact our anticipated annual pre-tax income improvement. At June 30, 2026, total demand deposits at the nine banking centers were approximately $170 million and retail CD balances were approximately $25 million. Also, as part of the organizational evaluation of products and services, Great Southern continues to expand its Live Teller ATM network with four new locations, including its first installations in the Des Moines, Iowa, market and a new Great Southern Express-branded location in Ozark, Mo. The banking center located at 3839 Indian Hills Dr. in Sioux City, Iowa, temporarily closed July 3, 2026, for a complete remodel. This reinvestment will bring a fully refreshed banking center to the Bank’s Sioux City customers, including updated and brightened interiors, updated technology, and the installation of a drive-thru Live Teller ATM offering extended banking hours for customer convenience. During the temporary closure, customers are served by six additional banking centers in the greater Sioux City area, and 15 ATM locations. Earnings Conference Call The Company will host a conference call on Thursday, July 16, 2026, at 2:00 p.m. Central Time to discuss second quarter 2026 preliminary earnings. The call will be available live or in a recorded version at the Company’s Investor Relations website, http://investors.greatsouthernbank.com. Participants may register for the call at https://register-conf.media-server.com/register/BI1519b65fe3df412abf1fe40dfe95c397. About Great Southern Bancorp, Inc. Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company currently operates 87 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol “GSBC.” www.GreatSouthernBank.com Forward-Looking Statements When used in this press release and in other documents filed or furnished by the Company with or to the Securities and Exchange Commission (the “SEC”), in the Company's other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” "will likely result," "are expected to," "will continue," "is anticipated," “believe,” "estimate," "project," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company's merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company's market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company's investment portfolio; (ix) the Company's ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company's business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10-K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10-Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company's financial performance and cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.The following tables set forth selected consolidated financial information of the Company at the dates and for the periods indicated. Financial data at all dates other than December 31, 2025, and for all periods is unaudited. In the opinion of management, all adjustments, which consist only of normal recurring accrual adjustments, necessary for a fair presentation of the results at and for such unaudited dates and periods have been included. The results of operations and other data for the three and six months ended June 30, 2026 and 2025, and the three months ended March 31, 2026, are not necessarily indicative of the results of operations which may be expected for any future period. Average Balances, Interest Rates and Yields The following table presents, for the periods indicated, the total dollar amounts of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Average balances of loans receivable include the average balances of nonaccrual loans for each period. Interest income on loans includes interest received on nonaccrual loans on a cash basis. Interest income on loans also includes the amortization of net loan fees, which were deferred in accordance with accounting standards. Net fees included in interest income were $1.2 million and $1.1 million for the three months ended June 30, 2026 and 2025, respectively. Net fees included in interest income were $2.0 million and $2.1 million for the six months ended June 30, 2026 and 2025, respectively. Tax-exempt income was not calculated on a tax equivalent basis. The table does not reflect any effect of income taxes. ___________________*Defined as the Company’s net interest income divided by average total interest-earning assets. ___________________*Defined as the Company’s net interest income divided by average total interest-earning assets. NON-GAAP FINANCIAL MEASURES This document contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”), including the ratio of tangible common equity to tangible assets and information excluding one-time branch consolidation and severance costs, specifically, net income, earnings per diluted common share, annualized return on average common equity, annualized return on average assets and efficiency ratio. In calculating the ratio of tangible common equity to tangible assets, we subtract period-end intangible assets from common equity and from total assets. Management believes that the presentation of this measure excluding the impact of intangible assets provides useful supplemental information that is helpful in understanding our financial condition and results of operations, as it provides a method to assess management’s success in utilizing our tangible capital as well as our capital strength. Management also believes that providing a measure that excludes balances of intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers. In addition, management believes that this is a standard financial measure used in the banking industry to evaluate performance. Management believes that the presentation of certain measures excluding one-time branch consolidation and severance costs provides useful supplemental information that is helpful in understanding our core operating performance when comparing periods. These non-GAAP financial measurements are supplemental and not a substitute for any analysis based on GAAP financial measures. Because not all companies use the same calculation of non-GAAP measures, this presentation may not be comparable to other similarly titled measures as calculated by other companies. Non-GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets Non-GAAP Reconciliation: Exclusion of One-Time Branch Consolidation and Severance Costs CONTACT: Kincade Ayers Investor Relations(616) 233-0500

Wall Street expects a year-over-year decline in earnings on lower revenues when Great Southern Bancorp (GSBC) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 15. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This bank holding company is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of -20.9%. Revenues are expected to be $55.6 million, down 6% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Great Southern Bancorp, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -2.21%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Great Southern Bancorp will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Great Southern Bancorp would post earnings of $1.27 per share when it actually produced earnings of $1.58, delivering a surprise of +24.41%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Great Southern Bancorp doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Great Southern Bancorp, Inc. (GSBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Q1 results: Net income was $17.5 million or $1.58 per diluted share, with net interest income of about $48.3 million and a resilient annualized net interest margin of 3.71% (including a modest one‑time recovery). Asset quality and provisions: Credit remained strong with non‑performing assets at ~0.18% (~$10.1M) and “virtually no charge‑offs,” no provision for loan losses and a $931,000 negative provision on unfunded commitments. Balance sheet and capital actions: Total net loans rose ~2.3% (driven by construction and commercial real estate) while deposits were broadly stable and uninsured deposits were ~16.7%; the company repurchased 268,664 shares and declared a quarterly dividend of $0.43 per share. Interested in Great Southern Bancorp, Inc.? Here are five stocks we like better. Great Southern Bancorp (NASDAQ:GSBC) reported first-quarter 2026 net income of $17.5 million, or $1.58 per diluted share, as management pointed to a “solid start to the year” despite what President and CEO Joe Turner called a “continuing competitive operating environment.” The results compared with $17.2 million, or $1.47 per diluted share, in the year-ago quarter and $16.3 million, or $1.45 per diluted share, in the fourth quarter of 2025. Turner said the quarter reflected “a resilient net interest margin, prudent asset liability management, thoughtful capital allocation, and stable loan balances.” Net interest income totaled $48.3 million, down about $1 million from the first quarter of 2025 and slightly below the fourth quarter of 2025, according to Chief Financial Officer Rex Copeland. → $39 Trillion Debt Signal: 3 TIPS ETFs to Hedge Persistent Inflation Management attributed the year-over-year decline primarily to the absence of income from a previously terminated interest rate swap that ended in October 2025. Copeland also cited lower loan balances and lower market rates that impacted variable-rate loans and some newer fixed-rate originations. Those factors were “mostly offset,” he said, by lower interest expense tied to disciplined funding cost management and deposit repricing, as well as the lack of interest expense on subordinated notes that were redeemed in June 2025. The company reported an annualized net interest margin of 3.71% for the quarter, compared to 3.57% in the first quarter of 2025 and 3.70% in the fourth quarter of 2025. Turner noted the quarter included $483,000 of “somewhat unusual” interest income from the collection of unbooked interest. Copeland said the additional interest income related to three separate relationships and that similar recoveries can occur “sporadically.” He added that the company recorded $744,000 of similar additional interest income in the first quarter of 2025. → Could These 3 New-to-Market Quantum Computing Firms Threaten D-Wave? Credit metrics remained a central theme on the call. Turner said asset quality remained “very strong,” with non-performing assets at 0.18% of total assets and “virtually no charge-offs.” Copeland reported non-performing assets and potential problem loans of approximately $11.3 million at March 31, 2026, up from $9.5 million at the end of 2025. Non-performing assets were approximately $10.1 million, or 0.18% of total assets, compared to $8.1 million, or 0.15%, at December 31, 2025. The company did not record a provision for credit losses on outstanding loans in the quarter. It did, however, record a negative provision on unfunded commitments of $931,000, which Copeland said resulted from a decline in unfunded commitments, “primarily in unfunded construction balances.” → SpaceX IPO Frenzy: 3 Space Stocks That Could Benefit Most Total assets ended the quarter at approximately $5.69 billion, up from $5.60 billion at December 31, 2025. Total net loans excluding mortgage loans held for sale increased about $99.8 million, or 2.3%, to $4.46 billion. Copeland said the increase was driven primarily by growth in construction loans and commercial real estate loans, partially offset by a decrease in multifamily loans. Management emphasized that repayment activity can significantly affect quarterly loan trends. Turner said first-quarter 2026 loan repayments were below the quarterly average during 2025 and “definitely during the last half of 2025.” Copeland added that if loan payoffs had been consistent with levels from the second half of 2025, loan balances “would likely have ended up $100 million or more lower.” Asked about the outlook for paydowns, Turner said the company does not provide guidance because prepayments are difficult to predict and can be volatile. He noted prepayments were “probably…$180 million less” in the first quarter of 2026 than they averaged in the last half of 2025, and said the refinancing market may be a factor, though the company was “not comfortable” forecasting. Deposits ended the quarter at approximately $4.45 billion, down about $37.6 million from December 31, 2025. Copeland said combined noninterest-bearing and interest-bearing checking declined $9 million, retail time deposits decreased $17 million, and brokered deposits decreased $11 million. Turner described deposits as “generally stable” during the quarter and said the company used Federal Home Loan Bank borrowings to replace certain maturing brokered balances. “Deposit markets remain competitive across both core and broker channels,” he said, adding that management continues to focus on funding cost, duration, and flexibility. Copeland said deposit balances have “continued to stabilize throughout the last several quarters.” As of March 31, 2026, management estimated uninsured deposits, excluding deposit accounts of consolidated subsidiaries, at approximately $740 million, or 16.7% of total deposits. Non-interest income totaled $7.0 million, up from $6.6 million in the first quarter of 2025. Copeland said the increase was driven primarily by stronger annuity sales commissions. He also noted other income included a $421,000 fee tied to a newly originated loan that included an interest rate swap as part of the transaction, and an unrelated exit from a tax credit limited partnership. Copeland said such items occur “sporadically” as part of operations. Non-interest expense was $34.8 million, essentially flat with the year-ago quarter. Turner said a portion of the decline year over year was due to a $261,000 insurance reimbursement for legal fees recovered through a loan foreclosure. Copeland also noted a $453,000 reimbursement under the company’s debit card program that reduced non-interest expense during the quarter. Looking forward, Copeland said the items that reduced expenses in the first quarter are not expected to repeat in the second quarter, and expenses could rise as deferred projects begin. Turner said the company is “primarily talking about IT projects” involving data security, customer-facing technology, and “substantial upgrades” to systems. He estimated that once “fully operational” over the next three to six quarters, the projects could add about $200,000 to $250,000 per month to expenses. In a separate exchange, Turner agreed with an analyst’s framing that quarterly non-interest expense could move closer to the $36 million level as those factors roll in. The company’s efficiency ratio for the quarter was 62.85%, compared to 62.27% in the first quarter of 2025. Non-interest expense to average assets was 2.47% versus 2.34% a year earlier. Management emphasized capital allocation and per-share value creation. Copeland said stockholders’ equity was approximately $633.6 million at March 31, 2026, representing 11.1% of total assets, with book value of approximately $58.27 per common share. That compared with $636.1 million and book value of $57.50 per common share at December 31, 2025. Copeland attributed the modest decline in total equity to $16.9 million of common stock repurchases, $4.7 million of cash dividends declared, and a $2.9 million increase in unrealized losses on investments and interest rate swaps, partially offset by $17.5 million of net income and $4.6 million in increased capital from stock option exercises. During the quarter, the company repurchased 268,664 shares at an average price of about $62.55 per share and declared a quarterly cash dividend of $0.43 per share. It also had stock option exercises of just over 80,000 shares at an average price of about $50.90 per share. As of March 31, about 419,000 shares remained available under the current repurchase authorization, and outstanding shares were approximately 10.874 million. Asked whether the company remained a buyer at current levels, Turner said he did not want to specify price levels but added that management still views the stock as “at an attractive level” by measures such as “tangible book value earn back.” Copeland said buyback decisions are considered alongside overall capital needs, including potential loan growth. On interest rates and margin sensitivity, Copeland said the balance sheet is “pretty balanced,” adding that a 25 basis point rate cut would likely not have a significant or lasting negative impact because many liabilities are short in duration and could reprice quickly. In other updates, Copeland said the securities portfolio is expected to decline “kind of slowly” with no significant runoff anticipated in the next couple of quarters, and likely “not much in the way of added to the portfolio” in the near term. Turner and Copeland also discussed ongoing evaluation of branch usage and delivery channels, including a St. Louis location that will continue to serve customers with on-site interactive teller machines but without an inside lobby presence. Great Southern Bancorp, Inc (NASDAQ: GSBC) is the bank holding company for Great Southern Bank, a full-service commercial bank headquartered in Springfield, Missouri. Through its subsidiary, the company provides a broad spectrum of financial products and services designed to meet the needs of individuals, small and mid-sized businesses, and professional clients across its regional footprint. Great Southern Bank's core business activities include deposit-taking, lending and treasury management. The article "Great Southern Bancorp Q1 Earnings Call Highlights" was originally published by MarketBeat.

This article first appeared on GuruFocus. Net Income: $17.5 million or $1.58 per diluted common share. Net Interest Income: $48.3 million for the quarter. Net Interest Margin: 3.71% for the first quarter of 2026. Total Loans: Increased by approximately $99.8 million or 2.3% to $4.46 billion. Noninterest Expense: $34.8 million, a decrease of $30,000 from the first quarter of 2025. Total Assets: Approximately $5.69 billion at the end of the quarter. Total Deposits: Approximately $4.45 billion, a decrease of $37.6 million from December 31, 2025. Nonperforming Assets: $10.1 million or 0.18% of total assets. Stockholders' Equity: Approximately $633.6 million, representing 11.1% of total assets. Book Value Per Share: $58.27 per common share. Common Stock Repurchases: 268,664 shares at an average price of $62.55 per share. Quarterly Cash Dividend: $0.43 per common share. Warning! GuruFocus has detected 6 Warning Sign with GSBC. Is GSBC fairly valued? Test your thesis with our free DCF calculator. Release Date: April 16, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Great Southern Bancorp Inc (NASDAQ:GSBC) reported a solid start to 2026 with net income of $17.5 million, up from $16.3 million in the previous quarter. The company maintained a strong net interest margin of 3.71%, reflecting effective loan pricing and disciplined funding cost management. Total loans increased by approximately $100 million during the quarter, driven by growth in construction and commercial real estate lending. Asset quality metrics remained strong with nonperforming assets to total assets at 0.18% and virtually no charge-offs reported. The company successfully managed expenses, with noninterest expense slightly decreasing compared to the previous year, aided by insurance reimbursements and deferred projects. Net interest income decreased by about $1 million compared to the first quarter of 2025, primarily due to the termination of an interest rate swap. Total deposits decreased by approximately $37.6 million from the end of 2025, with declines in both non-broker and broker deposits. The company anticipates an increase in noninterest expenses throughout the year due to upcoming IT projects, potentially adding $200,000 to $250,000 monthly. Nonperforming assets increased to $10.1 million from $8.1 million at the end of 2025, indicating a slight rise in potential problem loans. The securities portfolio is expected to slowly decline, with limited additions anticipated in the near term, potentially impacting future income. Q: Can you provide guidance on future expenses, considering upcoming projects? A: Rex Copeland, CFO: We don't anticipate the expense reductions from the first quarter to repeat. The impact of upcoming projects will depend on their timing, but they are not expected to be significant in any single quarter. Joseph Turner, CEO: These projects, mainly IT-related, could add $200,000 to $250,000 monthly to expenses over the next three to six quarters. Q: How is the company positioned for potential interest rate changes, and what impact could they have on the net interest margin? A: Rex Copeland, CFO: We are well-balanced for potential rate changes. A 25 basis point rate cut would not significantly impact us due to our short-term liabilities and interest rate swaps. We expect minimal movement in our net interest margin even with slight rate changes. Q: What is the outlook for loan growth, considering the recent slowdown in paydowns? A: Joseph Turner, CEO: Loan prepayments were significantly lower in the first quarter of 2026 compared to the last half of 2025. However, predicting future trends is challenging due to market volatility, so we refrain from providing specific guidance. Q: Are there plans for further stock buybacks given the current stock price levels? A: Joseph Turner, CEO: We still find our stock attractive at current levels based on various valuation metrics. Rex Copeland, CFO: Our decision to repurchase stock considers overall capital strategy, including loan growth and other factors. Q: What are the expectations for the securities portfolio, and will there be any significant changes? A: Rex Copeland, CFO: We expect the securities portfolio to decrease slowly due to monthly payments, but no significant changes are anticipated in the near term. Maturities in three to five years may increase runoff, but for now, the portfolio will remain relatively stable. For the complete transcript of the earnings call, please refer to the full earnings call transcript.