Great Southern Bancorp Inc.’s (Nasdaq: GSBC) profits dipped in the fourth quarter, but it wasn’t enough to offset annual gains.
The Springfield-based operator of Great Southern Bank reported fourth-quarter earnings available to common shareholders of $11.5 million, or 82 cents per diluted share, a 3.3 percent decrease from $11.9 million, or 86 cents per share, a year earlier. Full-year net income came to $45.9 million, or $3.28 per share, representing a roughly 7 percent boost from $43 million, or $3.10 per share, in 2014, according to a news release.
Full-year financial notes:
• Net interest income edged up 0.5 percent to $168.4 million from $167.6 million in 2014.
• Provision for loan losses moved up 33 percent to $5.5 million from $4.2 million.
• Salaries and employee benefits increased 4.7 percent to $58.7 million from $56 million a year earlier.
At the end of the third quarter,
Great Southern announced it penned a deal to purchase Cincinnati-based Fifth Third Bank’s St. Louis branches, deposits and loans. The agreement, scheduled to close Jan. 29, would double Great Southern’s presence in the market with 12 new branches, $261 million in deposits and $155 million in loans.
As of Dec. 31, Great Southern held assets of $4.1 billion and deposits of $3.3 billion. The company operates 96 branches in six states and loan offices in another two, according to the release.
GSBC shares were trading at $40.98 as of 10:10 a.m., compared to a 52-week range of $35.10 to $52.94.
