Great Southern Bancorp Reports 16.5% Increase in Net Income for Q2 2025

Great Southern Bancorp, Inc. reported a net income of $19.8 million for the three months ended June 30, 2025, reflecting a 16.5% increase from $16.9 million in the same period last year. For the six months ended June 30, 2025, net income rose to $36.9 million, up 21.6% from $30.4 million in the prior year. The increase in profitability was primarily driven by a rise in net interest income, which increased by 8.9% to $51.0 million for the second quarter and by 9.5% to $100.3 million for the first half of the year. This growth was attributed to higher average balances of loans and investment securities, despite a slight decrease in interest income from loans due to lower average rates.

In terms of operational changes, Great Southern experienced a decrease in total assets, which fell by $127 million to $5.85 billion as of June 30, 2025. This decline was mainly due to a $156.1 million reduction in net outstanding loans, particularly in construction and commercial real estate loans. However, the company saw an increase in cash and cash equivalents, which rose by 25.6% to $245.9 million. Total deposits increased by 1.7% to $4.68 billion, with transaction account balances contributing to this growth, while brokered deposits also saw a significant rise, increasing by $61.2 million.

The company’s non-interest income decreased to $8.2 million for the second quarter, down from $9.8 million a year earlier, primarily due to a reduction in other income related to a prior software vendor agreement. Non-interest expenses also saw a decline, decreasing by 3.9% to $35.0 million in the second quarter, largely due to lower legal and professional fees. The efficiency ratio improved to 59.16% from 64.27% year-over-year, indicating better cost management.

Looking ahead, Great Southern Bancorp remains focused on maintaining its capital strength, with total stockholders' equity increasing to $622.4 million, or 10.6% of total assets, as of June 30, 2025. The company’s capital ratios remain well above regulatory requirements, positioning it favorably for future growth. Management continues to monitor economic conditions and market trends, particularly in the context of interest rate fluctuations, which could impact net interest income and overall financial performance. The company is also investing in technology upgrades and expanding its banking center footprint, with a new facility set to open in Springfield, Missouri, by the end of 2025.