--- title: "Great Southern Bancorp | 8-K: FY2026 Q1 Revenue: USD 56.29 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283035080.md" datetime: "2026-04-16T16:58:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283035080.md) - [en](https://longbridge.com/en/news/283035080.md) - [zh-HK](https://longbridge.com/zh-HK/news/283035080.md) --- # Great Southern Bancorp | 8-K: FY2026 Q1 Revenue: USD 56.29 M Revenue: As of FY2026 Q1, the actual value is USD 56.29 M. EPS: As of FY2026 Q1, the actual value is USD 1.58, beating the estimate of USD 1.29. EBIT: As of FY2026 Q1, the actual value is USD -26.83 M. #### Net Income Great Southern Bancorp, Inc. reported preliminary net income of $17.5 million for the three months ended March 31, 2026, which is an increase of $0.3 million year-over-year compared to $17.2 million for the same period in 2025 . Net income was $17,476 thousand for Q1 2026, $17,160 thousand for Q1 2025, and $16,275 thousand for Q4 2025 . For the first quarter ended March 31, 2026, net income increased by 1.8% to $17.5 million from $17.2 million in the first quarter ended March 31, 2025 . #### Net Interest Income Net interest income for the first quarter of 2026 decreased by $1.0 million, or approximately 2.0%, to $48.3 million, compared to $49.3 million for the first quarter of 2025 . This decrease was largely due to the completion of accounting recognition in October 2025 of interest income from a previously terminated interest rate swap, which contributed $2.0 million of net interest income in Q1 2025 . The decrease was partially offset by lower interest expense on deposit accounts and other borrowings . Net interest income was $48,328 thousand for Q1 2026, $49,334 thousand for Q1 2025, and $49,163 thousand for Q4 2025 . The average interest rate spread was 3.20% for Q1 2026, compared to 3.00% for Q1 2025 and 3.16% for Q4 2025 . Interest income on loans increased $483,000 due to the collection of unbooked interest on three relationships . Active interest rate swaps resulted in a reduction of interest income of - $1.0 million in Q1 2026 and - $1.7 million in Q1 2025 . #### Non-Interest Income Non-interest income increased by $439,000 to $7.0 million for the quarter ended March 31, 2026, compared to the same period in 2025 . This increase was primarily driven by a $353,000 (134.7%) rise in commissions, largely from annuity sales that were approximately 160% higher than the prior-year quarter . Other non-interest income also increased by $421,000 due to fees from loan origination with an interest rate swap and a payment from exiting a tax credit limited partnership . Non-interest income was $7,029 thousand for Q1 2026, $6,590 thousand for Q1 2025, and $7,188 thousand for Q4 2025 . Total non-interest income was $7.0 million in 1Q26, a 6.7% increase from $6.6 million in 1Q25 . Specific items include POS and ATM fee income and service charges of $3.1 million in 1Q26 (down 4.1% from $3.2 million in 1Q25), overdraft and insufficient funds fees of $1.23 million in 1Q26 (up 1.3% from $1.21 million in 1Q25), late charges and fees on loans of $136,000 in 1Q26 (a 44% decrease compared to $243,000 in 1Q25), other non-interest income of $1.2 million in 1Q26 (a 16.1% increase from $1.1 million in 1Q25), net gains on loan sales of $719,000 in 1Q26 (up 19.6% from $601,000 in 1Q25), and loss on derivative interest rate products of - $2,000 in 1Q26 (compared to - $24,000 in 1Q25) . #### Non-Interest Expense Non-interest expense decreased by $30,000 to $34.8 million for the quarter ended March 31, 2026, compared to the same period in 2025 . Legal, audit, and other professional fees decreased by $348,000 due to a $261,000 insurance reimbursement of legal fees in Q1 2026 . Advertising expense decreased by $453,000 due to an annual reimbursement related to the debit card program . Conversely, net occupancy and equipment expenses increased by $331,000, or 3.9%, due to a $339,000 increase in computer license and support expenses . Non-interest expense was $34,792 thousand for Q1 2026, $34,822 thousand for Q1 2025, and $36,000 thousand for Q4 2025 . Total non-interest expense declined to $34.8 million in 1Q26, a $30,000 decrease from $34.8 million in 1Q25 . Net Occupancy and Equipment Expense increased to $8.9 million in 1Q26, a $331,000 year-over-year increase . Legal, Audit, and Other Professional Fees decreased by $348,000 to $690,000 in 1Q26, compared to $1.0 million in 1Q25 . Salaries and Employee Benefits decreased by $58,000 to $20.1 million in 1Q26, consistent with $20.1 million in 1Q25 . #### Provision for Credit Losses Great Southern Bancorp, Inc. recorded a negative provision for losses on unfunded commitments of - $931,000 for the quarter ended March 31, 2026, compared to a negative provision of - $348,000 for the same period in 2025 . The Company did not record a provision expense on its portfolio of outstanding loans for either period . Total net recoveries were $13,000 for Q1 2026, compared to total net charge-offs of $56,000 during Q1 2025 . The provision (credit) for credit losses on loans and unfunded commitments was - $931 thousand for Q1 2026, - $348 thousand for Q1 2025, and $882 thousand for Q4 2025 . A negative provision of $931,000 was recorded in 1Q26, compared to a negative provision of $348,000 in 1Q25 . #### Operational Metrics - **Return on Average Common Equity**: Annualized return on average common equity was 10.85% for Q1 2026, compared to 11.30% for Q1 2025 and 10.16% for Q4 2025 . - **Return on Average Assets**: Annualized return on average assets was 1.24% for Q1 2026, compared to 1.15% for Q1 2025 and 1.16% for Q4 2025 . - **Net Interest Margin**: Annualized net interest margin was 3.71% for Q1 2026, compared to 3.57% for Q1 2025 and 3.70% for Q4 2025 . - **Efficiency Ratio**: The Company’s efficiency ratio for Q1 2026 was 62.85%, compared to 62.27% for Q1 2025 and 63.89% for Q4 2025 . - **Non-Interest Expense to Average Total Assets**: This ratio was 2.47% for Q1 2026, compared to 2.34% for Q1 2025 and 2.56% for Q4 2025 . #### Loans and Asset Quality - **Total Net Loans**: Total net loans, excluding mortgage loans held for sale, increased by $99.8 million, or 2.3%, from $4.36 billion at December 31, 2025, to $4.46 billion at March 31, 2026 . This growth was primarily driven by increases in construction loans ($83.0 million) and commercial real estate loans ($27.0 million), partially offset by decreases in other residential (multi-family) loans (- $18.1 million) . Loan repayments in Q1 2026 decreased by approximately $125 million compared to the 2025 quarterly average . Loans Receivable, Gross increased to $4.527 billion at March 31, 2026, from $4.428 billion at December 31, 2025 . Total gross loans were $4,533,822 thousand as of March 31, 2026, an increase from $4,434,516 thousand as of December 31, 2025 . - **Non-Performing Assets (NPAs)**: Non-performing assets totaled $10.1 million at March 31, 2026, an increase of $2.0 million from $8.1 million at December 31, 2025 . Non-performing assets as a percentage of total assets were 0.18% at March 31, 2026, compared to 0.15% at December 31, 2025 . Non-performing loans increased by $1.4 million compared to December 31, 2025 . The non-performing other residential (multi-family) category consisted of one loan totaling $2,725 thousand, added during the current quarter . NPAs increased to $10.1 million, representing 0.18% of total assets, at March 31, 2026, up from $8.1 million (0.15% of total assets) in 4Q25, and $9.5 million (0.16% of total assets) in 1Q25 . - **Potential Problem Loans**: Potential problem loans decreased by $152,000 compared to December 31, 2025, totaling $1,238 thousand at March 31, 2026 . - **Foreclosed Assets and Repossessions**: Foreclosed assets increased by $579,000 compared to December 31, 2025, totaling $6,615 thousand at March 31, 2026 . This included a one- to four-family residential relationship of $643,000 transferred from non-performing loans . - **Allowance for Credit Losses (ACL)**: The allowance for credit losses as a percentage of total loans was 1.43% at March 31, 2026, compared to 1.46% at December 31, 2025 . ACL to Period-End Loans remained stable at 1.43% at March 31, 2026, a slight decrease from 1.46% in 4Q25, and was 1.36% in 1Q25 . - **Annualized Net Charge-offs to Average Loans**: This ratio was 0.00% for Q1 2026, Q1 2025, and Q4 2025 . Net recoveries totaled $13,000 for 1Q26, representing 0.00% of average loans on an annualized basis, compared to net charge-offs of $56,000 (0.00%) in 1Q25 and net recoveries of - $22,000 (0.00%) in 4Q25 . #### Liquidity and Deposits - **Liquidity Availability**: At March 31, 2026, Great Southern Bancorp, Inc. had secured borrowing line availability of $1.24 billion at the FHLBank and $332.1 million at the Federal Reserve Bank . Cash and cash equivalents were $187.4 million, unpledged available-for-sale securities were $347.1 million, and unpledged held-to-maturity securities were $23.9 million . - **Total Deposits**: Total deposits decreased by $37.6 million during Q1 2026 . Interest-bearing checking balances decreased by $25.0 million (1.1%), while non-interest-bearing checking balances increased by $15.8 million (1.9%) . Time deposits decreased by $17.0 million (2.5%), and brokered deposits decreased by $11.5 million (1.7%) . Uninsured deposits were approximately $740.1 million (16.7% of total deposits) at March 31, 2026 . Total deposits were $4.445 billion at March 31, 2026, down from $4.483 billion at December 31, 2025 . Interest-Bearing Deposits decreased by $25.0 million, or 1.1%, compared to 4Q25 . Non-Interest-Bearing Deposits increased by $15.8 million, or 1.9%, compared to 4Q25 . Time Deposits decreased by $17.0 million, or 2.5%, compared to 4Q25 . Brokered Deposits decreased by $11.5 million, or 1.7%, compared to 4Q25 . #### Capital - **Total Stockholders’ Equity**: Total stockholders’ equity was $633.6 million at March 31, 2026, representing 11.1% of total assets, compared to $636.1 million (11.4% of total assets) at December 31, 2025 . The $2.5 million decrease was primarily due to $4.7 million in cash dividends, $16.9 million in common stock repurchases, and a $2.9 million increase in unrealized losses on investments and interest rate swaps, partially offset by $17.5 million in net income and a $4.6 million increase from stock option exercises . Total stockholders’ equity decreased by $2.5 million to $633.6 million at March 31, 2026, compared to $636.1 million at December 31, 2025, and was $613.3 million at March 31, 2025 . Total Stockholders’ Equity as Percentage of Total Assets was 11.1% at March 31, 2026, down from 11.4% at December 31, 2025, and was 10.2% at March 31, 2025 . - **Tangible Common Equity Ratio**: The tangible common equity ratio was 10.99% at March 31, 2026, compared to 11.21% at December 31, 2025 . The Tangible Common Equity to Tangible Common Assets Ratio was 11.0% at March 31, 2026, compared to 11.2% at December 31, 2025, and 10.1% at March 31, 2025 . - **Regulatory Capital Ratios (March 31, 2026)**: Tier 1 Leverage Ratio was 12.2%, Common Equity Tier 1 Capital Ratio was 13.5%, Tier 1 Capital Ratio was 14.0%, and Total Capital Ratio was 15.2% . These ratios significantly exceed “well-capitalized” thresholds . - **Stock Repurchases**: Great Southern Bancorp, Inc. repurchased 268,664 shares of its common stock at an average price of $62.55 during Q1 2026 . Approximately 419,000 shares remained available under the stock repurchase authorization as of March 31, 2026 . #### Loan Portfolio by Category (as of March 31, 2026) The loan portfolio of Great Southern Bancorp, Inc. (南方万通金控) was categorized as follows: Multi-family Real Estate constituted 30% ($1.369 billion), Commercial Real Estate 35% ($1.583 billion), Single Family Real Estate 17% ($789.551 million), Construction & Land Development 10% ($432.146 million), Commercial Business 4% ($180.182 million), and Consumer 4% ($179.525 million), including Home Equity Loans of $134,704 thousand . #### Commercial Real Estate by Industry (as of March 31, 2026) Commercial Real Estate loans totaled $1,583,124 thousand as of March 31, 2026, up from $1,556,148 thousand as of December 31, 2025 . The largest segments were: Motels / Hotels $311,738 thousand (20%), Industrial $302,812 thousand (19%), Retail $292,420 thousand (18%), Healthcare $232,934 thousand (15%), and Office Buildings $169,657 thousand (11%) . Office Loans totaled $169,657 thousand with an average credit size of $1,620,330, and all were Pass Rated . Non-owner occupied office loans were $130,195 thousand (55 loans, average size $2,367 thousand, 44% weighted average LTV), and owner-occupied loans were $18,426 thousand (47 loans, average size $392 thousand, 47% weighted average LTV) . Retail + Restaurant Loans totaled $385,639 thousand with an average credit size of $1,402,125, and all were Pass Rated . This category includes Restaurants ($93,219 thousand), Neighborhood & Shopping Center ($52,252 thousand), Mixed-Use ($21,840 thousand), Single Tenant ($56,990 thousand), and Strip Center ($161,338 thousand) . #### Construction & Land Development by Industry (as of March 31, 2026) Construction & Land Development loans amounted to $432,146 thousand as of March 31, 2026, increasing from $349,161 thousand as of December 31, 2025 . Key industries included: Apartments $243,827 thousand (56%), Commercial Land Development $43,555 thousand (10%), Single Family $38,981 thousand (9%), and Industrial $33,395 thousand (8%) . #### Multi-Family Real Estate by LTV (as of March 31, 2026) Multi-Family Real Estate loans totaled $1,369,294 thousand, with the majority (67% or $919,868 thousand) having an LTV between 51% and 75% . Loans with LTVs between 26% and 50% represented 24% or $329,908 thousand . The average credit size for multi-family real estate loans was $6,224,066 as of March 31, 2026 . #### Non-Performing Loans by Type (as of March 31, 2026) Total non-performing gross loans were $3,454 thousand as of March 31, 2026, an increase from $2,094 thousand as of December 31, 2025 . The primary categories were: Multi-family Real Estate $2,725 thousand (79%), Single Family Real Estate $703 thousand (20%), and Consumer $26 thousand (1%), including Home Equity Loans of $17 thousand . #### Non-Performing Loans by Region (as of March 31, 2026) Non-performing loans were predominantly located in Iowa/Nebraska/South Dakota, totaling $3,112 thousand (90%) . Missouri accounted for $303 thousand (9%), and the Midwest Region (excluding Iowa/Nebraska/South Dakota) had $31 thousand (1%) . #### Outlook / Guidance Great Southern Bancorp, Inc. expects its effective tax rate (combined federal and state) to be approximately 18.5% to 19.5% in future periods . Non-interest expense is expected to increase in the remainder of 2026 due to the implementation of various technology initiatives and advancements . 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