Great Southern Bancorp said third-quarter 2026 net income fell to $14.0 million, or $1.27 per diluted share, from $17.8 million, or $1.56 per share, a year earlier. Excluding a non-cash hedge accounting adjustment, net income would have been $16.5 million, or $1.50 per share.
Net interest income slipped to $50.3 million from $50.8 million a year ago, while the net interest margin widened to 3.75% from 3.72%. Compared with the second quarter of 2026, net interest income rose from $49.5 million and margin edged down from 3.76%.
Non-interest income dropped sharply to $3.4 million from $7.1 million in the prior-year quarter, while non-interest expense increased slightly to $36.3 million from $36.1 million. The company’s efficiency ratio worsened to 67.57% from 62.45%.
For the first nine months of 2026, net income was $47.3 million, down from $54.7 million in the same period of 2025.
Loan balances declined to $4.25 billion at Sept. 30, 2026, from $4.36 billion at Dec. 31, 2025, a drop of $108.4 million, or 2.5%. The company said the decrease was driven mainly by lower commercial real estate and multifamily balances, partly offset by construction lending.
Non-performing assets rose to $10.5 million from $8.1 million at year-end 2025, and total non-performing assets and potential problem loans increased to $11.9 million from $9.5 million. Other real estate owned climbed to $20.4 million, including $11.1 million of closed banking center properties held for sale.
The company said it had $1.10 billion of borrowing capacity at the FHLBank and $371 million at the Federal Reserve Bank at quarter-end. It also repurchased 159,212 shares during the quarter.
Book value per common share was $56.97, and tangible common equity was 10.4% of tangible assets at Sept. 30, 2026. Today the company's shares have moved -0.65% to a price of $78.08. For the full picture, make sure to review GREAT SOUTHERN BANCORP, INC.'s 8-K report.
