EL7.AI
StocksMedium•24 October 2026•
2 min read

Great Southern Bancorp Reports Adjusted Net Income of $16.5 Million in Third Quarter

Key Facts

1Adjusted net income was $16.5 million and diluted earnings per share were $1.50 in the third quarter of 2026.
2Net interest income fell $504,000, or 1.0%, to $50.3 million, compared with $50.8 million a year earlier.
3Net interest margin was 3.75%, compared with 3.72% in the third quarter of 2025 and 3.76% in the second quarter of 2026.
4Net loans fell $108.4 million, or 2.5%, to $4.25 billion on September 30, 2026, from $4.36 billion at the end of 2025.

Great Southern Bancorp reported net income of $16.5 million, or $1.50 per diluted share, in the third quarter of 2026 excluding the impact of a noncash hedge adjustment, according to a filing with the U.S. Securities and Exchange Commission. Chief Executive Joseph Turner said quarterly earnings were affected by the accounting adjustment. He said the company is prioritizing prudent balance sheet management, maintaining strict credit standards and controlling noninterest expenses. The company’s stock closed at $80.93 on October 23, 2026, according to EL7 data. The results combine an accounting impact on quarterly earnings with operating pressures reflected in net interest income and loans.

Net interest income was $50.3 million, down $504,000, or 1.0%, from $50.8 million in the third quarter of 2025, according to the filing. The company attributed the decline mainly to the end of income accrual recognition from a previous swap. Meanwhile, net interest margin was 3.75%, compared with 3.72% a year earlier and 3.76% in the second quarter of 2026. This combination shows the margin rising from its year-earlier level while edging down from the prior quarter. The company said the impact of the previous swap was a factor in the year-over-year decline in interest income.

Net loans fell $108.4 million, or 2.5%, from $4.36 billion on December 31, 2025, to $4.25 billion on September 30, 2026. The bank said the decline came mainly from commercial real estate and multifamily loans. It also cited higher prepayments during the second and third quarters of 2026. On asset quality, nonperforming assets were $10.5 million, or 0.18% of total assets, on September 30. Nonperforming loans were 0.03% of total loans, while net charge-offs were $397,000 in the third quarter.

For the nine months ended September 30, 2026, net income was $47.3 million and diluted earnings per share were $4.27, compared with $54.7 million and $4.74 in the same period of 2025. The bank said a noncash hedge accounting adjustment affected quarterly earnings, while its filing detailed the redesign of existing swaps. It said the $3.5 million pretax charge will be fully recovered through interest income over the remaining life of the redesigned swaps. It expects the net future benefit to be about $3.5 million through May 2028. It also expects to recognize about $520,000 of additional interest income in each upcoming quarter through the first quarter of 2028, followed by an additional $170,000 in the second quarter of 2028.