Great Southern Bancorp Inc (NASDAQ:GSBC) demonstrated resilience in its fourth quarter earnings report, overcoming challenges such as rising funding costs and heightened competition for deposits. The bank posted a net income of $14.9 million, or $1.27 per diluted share, with annual net income slightly declining to $61.8 million, or $5.26 per share, compared to the previous year.
The fourth quarter saw an improved net interest margin of 3.49%, driven by higher loan income, while the loan portfolio grew by over $100 million year-over-year, led by growth in multifamily residential loans. GSBC’s asset quality remained robust, with non-performing assets comprising just 0.16% of total assets.
Looking forward, the bank plans to emphasize prudent growth and sound balance sheet management to navigate potential economic challenges and enhance shareholder value. With a focus on maintaining strong asset quality and optimizing its loan portfolio, GSBC is positioned to build on its solid performance in the coming year.
