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Dec 31, 2020
Great Southern Q4 2020 Earnings Report
Reported preliminary fourth quarter and annual earnings, reflecting a strong operating performance and strategic initiatives.
Key Takeaways
Great Southern Bancorp reported preliminary earnings for Q4 2020 of $1.28 per diluted common share, totaling $17.8 million available to common shareholders. The company's performance underscores dedication and effort in serving customers during the pandemic. The net interest margin for the quarter was 3.41%, with an increase of five basis points from the previous quarter.
Earnings per share increased due to common stock repurchase activities.
Net interest margin improved due to reduced rates on deposits.
Outstanding loan balances decreased, but the pipeline of loan commitments increased.
Credit quality metrics remained strong, with non-performing assets decreasing.
Forward Guidance
The magnitude of the impact on the Company of the COVID-19 pandemic is not yet fully known, and will depend on the length and severity of the economic downturn brought on by the pandemic.
Positive Outlook
- Actively monitoring and responding to the effects of the evolving COVID-19 pandemic.
- Health, safety and well-being of customers, associates and communities while maintaining uninterrupted service are the Company’s top priorities.
- Enforcing CDC-advised health, hygiene and social distancing practices.
- Teams in nearly every operational department have been split, with part of each team working at an off-site disaster recovery facility to promote social distancing and to avoid service disruptions.
- Customers can conduct their banking business using the banking center network, online and mobile banking services, ATMs, Telephone Banking, and online account opening services.
Challenges Ahead
- The Company expects that the COVID-19 pandemic will continue to impact our business.
- Reduced net income in future periods.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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