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Dec 31, 2024
Great Southern Q4 2024 Earnings Report
Reported preliminary earnings, driven by increased net interest income and strategic loan portfolio growth.
Key Takeaways
Great Southern Bancorp reported a strong fourth quarter with earnings of $1.27 per diluted common share, surpassing the $1.11 recorded in the same period of 2023. The improvement was primarily driven by increased net interest income and strategic loan portfolio growth.
Reported earnings of $1.27 per diluted common share ($14.9 million net income) for Q4 2024, compared to $1.11 per diluted common share ($13.1 million net income) for Q4 2023.
Annualized return on average common equity was 9.76%, annualized return on average assets was 1.00%, and annualized net interest margin was 3.49% for Q4 2024.
Net interest income for Q4 2024 increased $4.4 million to $49.5 million, compared to $45.1 million for Q4 2023.
Non-performing assets decreased by $2.2 million to $9.6 million, or 0.16% of total assets, at December 31, 2024, compared to 0.20% at December 31, 2023.
Great Southern
Great Southern
Forward Guidance
Great Southern Bancorp anticipates a challenging operating environment in 2025, with funding costs expected to remain elevated. The company's strong liquidity position, credit quality, and disciplined approach to growth are expected to provide a solid base for continued success.
Positive Outlook
- Strong liquidity position
- Solid credit quality
- Disciplined approach to growth
- Proactive credit management practices
- Robust loan pipeline
Challenges Ahead
- Anticipates funding costs to stay elevated
- High level of competition for deposits
- Lingering effects of liquidity events at several banks
- Potential need for additional provisions for credit losses if challenging economic conditions persist or worsen
- Increased unrealized losses on the Company’s available-for-sale investment securities and interest rate swaps