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Earnings Call Summary | Great Southern Bancorp(GSBC.US) Q1 2024 Earnings Conference

Futu News ·  Apr 19 05:45  · Conference Call

The following is a summary of the Great Southern Bancorp, Inc. (GSBC) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Great Southern Bancorp reported Q1 2024 earnings per share of $1.13 with total earnings of $13.4 million.

  • Deposit costs increased moderately due to significant deposit competition and continued lower loan origination volume.

  • Noninterest expense remained generally unchanged compared to the year-ago quarter.

  • Total stockholders' equity decreased to $565.2 million due to decreases in the mark-to-market on swaps and available-for-sale securities.

Business Progress:

  • The company's loan portfolio performance remained robust and diverse with minimal changes in outstanding loan balances.

  • A minor rise was seen in non-performing assets due to a single multifamily project, but credit quality metrics remained consistent.

  • The company continues to invest in a core system conversion, which is expected to bring about additional costs.

  • The estimated tax rate for the rest of the year is projected to lie between 18.5% and 20.5%.

More details: Great Southern Bancorp IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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