Great Southern Bancor, the holding company for Great Southern Bank, reported preliminary earnings. Sees Q4 total provision expense of $841,000 in the 2022 period versus a total credit of $1.7M in the 2021 period. The increased provision in the 2022 period served to build credit loss reserves as loan balances. "In the Q4 of 2022, we earned $22.6M, compared to $15.3M for the same period in 2021. The 2021 period included some large non-recurring non-interest expense items which reduced net income and earnings per share. Earnings in the Q4 of 2022 were partially offset by much lower profits on loan sales compared to those during the fourth quarter of 2021, as increasing interest rates reduced the volume of mortgage loans originated and sold in the secondary market. Because of continued strong commercial loan growth, we recorded a total provision for credit losses of $800,000 for the Q4 of 2022, compared to a total negative provision of $1.7M for the same period in 2021. Increasing market interest rates and growth in outstanding loan and investment balances contributed to increased net interest income in 2022 compared to 2021."
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