Great Southern ( (GSBC) ) has released its Q1 earnings. Here is a breakdown of the information Great Southern presented to its investors.
Great Southern Bancorp, Inc., a prominent financial institution operating in the banking sector, offers a wide range of banking services through its retail banking centers and commercial lending offices across several states in the United States. The company recently reported its preliminary earnings for the first quarter of 2025, showcasing a significant increase in net income and earnings per share compared to the same period last year.
The first quarter of 2025 saw Great Southern Bancorp, Inc. achieve a net income of $17.2 million, translating to $1.47 per diluted common share, up from $13.4 million or $1.13 per share in the first quarter of 2024. This improvement was primarily driven by a 10.1% increase in net interest income, which reached $49.3 million, supported by higher interest income on loans and strategic management of deposit costs. The company’s annualized return on average common equity rose to 11.30%, and the net interest margin improved to 3.57%.
Key financial metrics highlighted in the report include a strong capital position with a Tier 1 Leverage Ratio of 11.3% and a Common Equity Tier 1 Capital Ratio of 12.4%. Additionally, the company maintained a solid liquidity position with substantial borrowing line availability and unpledged securities. Asset quality remained stable, with non-performing assets constituting only 0.16% of total assets. The company also announced a new stock repurchase program, authorizing the purchase of up to one million additional shares.
Looking ahead, Great Southern Bancorp, Inc. aims to continue its disciplined approach to managing costs, safeguarding credit quality, and optimizing its funding mix to ensure long-term financial stability. The company remains committed to delivering sustainable returns and is confident in its ability to navigate the current economic environment while continuing to serve its customers, communities, and shareholders effectively.