Great Southern’s longtime chief lending officer to retire

Great Southern Bancorp Inc.’s (Nasdaq: GSBC) chief lending officer since 1999 is scheduled to retire April 7.

With the banking company since 1990, Steve Mitchem led the company’s loan portfolio to $3.8 billion in nine states from $360 million mostly in southwest Missouri, according to a news release.

“Great Southern appreciates Steve’s commitment and leadership throughout his career,” President and CEO Joe Turner said in the release. “His contributions will have a lasting effect on our company.”

Mitchem, 65, began planning his retirement in early 2016, leading to the company restructuring the lending division into two. Loan production now is spearheaded by John Bugh with credit administration led by Kevin Baker. Each has over 27 years of banking industry experience. Bugh and Baker are taking over Mitchem’s responsibilities, and the company does not plan to hire a new chief lending officer, said spokesman Chris Keenan.

In 2016, Mitchem earned total compensation of $399,808, making him the fourth-highest paid executive at the publicly held bank, according to a filing with the U.S. Securities and Exchange Commission.

Great Southern, which operates 108 branches in nine states, posted a 2.5 percent drop in 2016 earnings.

GSBC shares were trading at $49.80 as of 8:54 a.m., compared with a 52-week range of $34.48 to $56.70.

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