Great Southern Bancorp reports preliminary Q4 EPS $1.11, consensus $1.15

Great Southern President and CEO Joseph W. Turner said, “As expected, our fourth quarter results reflected a persistent and challenging operating landscape. We earned $1.11 per diluted common share ($13.1 million) for the fourth quarter of 2023, compared to $1.84 per diluted common share ($22.6 million) for the fourth quarter of 2022, and $1.33 per diluted common share ($15.9 million) for the third quarter of 2023. In light of the current interest rate environment, key drivers of performance included continued increases in deposit costs and significant competition for deposits, as well as the continuation of lower loan origination volume. As indicated in this release, lower non-interest income and higher non-interest expenses also contributed to reduced earnings during the quarter. However, we did note that there were a few non-recurring additional expenses which decreased our fourth quarter earnings. On a positive note, the Company’s capital strengthened, with stockholders’ equity increasing by $40.1 million from the end of the third quarter 2023, equivalent to a book value per common share outstanding of $48.44 at December 31, 2023, an increase of $3.63 per common share outstanding from September 30, 2023.”