# GREAT SOUTHERN BANCORP, INC. (GSBC)

Informational only - not investment advice.

CIK: 0000854560
SIC: 6022 State Commercial Banks
SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6022 State Commercial Banks](/industry/6022/)
Latest 10-K filed: 2026-03-06
SEC page: https://www.sec.gov/edgar/browse/?CIK=854560
Filing source: https://www.sec.gov/Archives/edgar/data/854560/000110465926024659/gsbc-20251231x10k.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-03-06 · accession 0001104659-26-024659 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000854560.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 313,732,000 USD | 2025 | verified |
| Net income | 70,973,000 USD | 2025 | verified |
| Assets | 5,598,606,000 USD | 2025 | verified |
| Free cash flow | 70,056,000 USD | 2025 | computed |
| Net margin | 22.62% | 2025 | computed |
| Revenue YoY | -3.38% | 2025 | computed |
| ROE | 11.16% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | GSBC | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 22.6% | 21.9% | 54 | 149 |
| Revenue growth | -3.4% | 6.0% | 8 | 148 |
| FCF margin | 22.3% | 23.8% | 42 | 133 |
| ROE | 11.2% | 9.6% | 65 | 149 |
| ROA | 1.3% | 1.1% | 70 | 149 |
| Liabilities / equity | 7.80 | 8.04 | 45 | 149 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6022 State Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 313732000 | USD | 2025 | 2026-03-06 |
| Net income | 70973000 | USD | 2025 | 2026-03-06 |
| Assets | 5598606000 | USD | 2025 | 2026-03-06 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000854560.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 185,175,000 | 183,061,000 | 205,949,000 | 234,994,000 | 217,703,000 | 198,673,000 | 226,977,000 | 296,835,000 | 324,698,000 | 313,732,000 |
| Net income | 45,342,000 | 51,564,000 | 67,109,000 | 73,612,000 | 59,313,000 | 74,627,000 | 75,948,000 | 67,800,000 | 61,807,000 | 70,973,000 |
| Diluted EPS | 3.21 | 3.64 | 4.71 | 5.14 | 4.21 | 5.46 | 6.02 | 5.61 | 5.26 | 6.19 |
| Operating cash flow | 80,639,000 | 62,817,000 | 94,195,000 | 86,419,000 | 46,048,000 | 93,742,000 | 84,846,000 | 80,700,000 | 44,064,000 | 81,521,000 |
| Capital expenditures | 10,878,000 | 7,404,000 | 9,317,000 | 11,789,000 | 8,224,000 | 5,739,000 | 20,110,000 | 7,300,000 | 4,924,000 | 11,465,000 |
| Dividends paid | 12,232,000 | 12,894,000 | 15,819,000 | 29,052,000 | 33,426,000 | 18,800,000 | 19,181,000 | 19,282,000 | 18,708,000 | 18,724,000 |
| Share buybacks | 0.00 | 0.00 | 903,000 | 849,000 | 22,104,000 | 39,123,000 | 61,847,000 | 23,326,000 | 15,152,000 | 44,461,000 |
| Assets | 4,550,663,000 | 4,414,521,000 | 4,676,200,000 | 5,015,072,000 | 5,526,420,000 | 5,449,944,000 | 5,680,702,000 | 5,812,402,000 | 5,981,628,000 | 5,598,606,000 |
| Liabilities | 4,120,857,000 | 3,942,859,000 | 4,144,223,000 | 4,412,006,000 | 4,896,679,000 | 4,833,192,000 | 5,147,615,000 | 5,240,573,000 | 5,382,060,000 | 4,962,480,000 |
| Stockholders' equity | 429,806,000 | 471,662,000 | 531,977,000 | 603,066,000 | 629,741,000 | 616,752,000 | 533,087,000 | 571,829,000 | 599,568,000 | 636,126,000 |
| Cash and cash equivalents | 279,769,000 | 242,253,000 | 202,742,000 | 220,155,000 | 563,729,000 | 717,267,000 | 168,520,000 | 211,333,000 | 195,756,000 | 189,554,000 |
| Free cash flow | 69,761,000 | 55,413,000 | 84,878,000 | 74,630,000 | 37,824,000 | 88,003,000 | 64,736,000 | 73,400,000 | 39,140,000 | 70,056,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 24.49% | 28.17% | 32.59% | 31.33% | 27.24% | 37.56% | 33.46% | 22.84% | 19.04% | 22.62% |
| Return on equity | 10.55% | 10.93% | 12.62% | 12.21% | 9.42% | 12.10% | 14.25% | 11.86% | 10.31% | 11.16% |
| Return on assets | 1.00% | 1.17% | 1.44% | 1.47% | 1.07% | 1.37% | 1.34% | 1.17% | 1.03% | 1.27% |
| Liabilities / equity | 9.59 | 8.36 | 7.79 | 7.32 | 7.78 | 7.84 | 9.66 | 9.16 | 8.98 | 7.80 |

## As-reported value updates

8 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/GSBC/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-07. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000854560.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 1.46 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 1.67 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 1.52 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 75,272,000 | 15,879,000 | 1.33 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 76,482,000 | 13,145,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 77,390,000 | 13,407,000 | 1.13 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 80,927,000 | 16,988,000 | 1.45 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 83,796,000 | 16,490,000 | 1.41 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 82,585,000 | 14,922,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 80,243,000 | 17,160,000 | 1.47 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 80,975,000 | 19,786,000 | 1.72 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 79,079,000 | 17,752,000 | 1.56 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 73,435,000 | 16,275,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 71,165,000 | 17,476,000 | 1.58 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 72,461,000 | 15,795,000 | 1.43 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from GSBC's latest 10-K: [/company/GSBC/business/](/company/GSBC/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from GSBC's latest 10-K: [/company/GSBC/risk-factors/](/company/GSBC/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/854560/000110465926092625/gsbc-20260630x10q.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-07
Report date: 2026-06-30

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-looking Statements

When used in this Quarterly Report on Form 10-Q and in other documents filed or furnished by Great Southern Bancorp, Inc. (the “Company”) with or to the Securities and Exchange Commission (the “SEC”), in the Company’s press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “believe,” “estimate,” “project,” “intends” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company’s merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company’s market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company’s investment portfolio; (ix) the Company’s ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers’ needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company’s business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10-K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10-Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company’s financial performance and cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Critical Accounting Policies, Judgments and Estimates

The accounting and financial reporting policies of the Company conform to accounting principles generally accepted in the United States and general practices within the financial services industry. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.

37

​

Allowance for Credit Losses and Valuation of Foreclosed Assets

The Company believes that the determination of the allowance for credit losses involves a higher degree of judgment and complexity than its other significant accounting policies. The allowance for credit losses is calculated with the objective of maintaining an allowance level believed by management to be sufficient to absorb estimated credit losses. The allowance for credit losses is measured using an average historical loss model that incorporates relevant information about past events (including historical credit loss experience on loans with similar risk characteristics), current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the loans. The allowance for credit losses is measured on a collective (pool) basis. Loans are aggregated into pools based on similar risk characteristics, including borrower type, collateral and repayment types and expected credit loss patterns. Loans that do not share similar risk characteristics, primarily classified loans with a balance of $100,000 or more, are evaluated on an individual basis.

For loans evaluated for credit losses on a collective basis, average historical loss rates are calculated for each pool using the Company’s historical net charge-offs (combined charge-offs and recoveries by observable historical reporting period) and outstanding loan balances during a lookback period. Lookback periods can be different based on the individual pool and represent management’s credit expectations for the pool of loans over the remaining contractual life. In certain loan pools, if the Company’s own historical loss rate is not reflective of the loss expectations, the historical loss rate is augmented by industry and peer data. The calculated average net charge-off rate is then adjusted for current conditions and reasonable and supportable forecasts. These adjustments increase or decrease the average historical loss rate to reflect expectations of future losses given economic forecasts of key macroeconomic variables including, but not limited to, unemployment rate, GDP, commercial real estate price index, consumer sentiment and construction spending. The adjustments are based on results from various regression models projecting the impact of the macroeconomic variables to loss rates. The forecast is used for a reasonable and supportable period before reverting to historical averages using a straight-line method. The forecast-adjusted loss rate is applied to the principal balance over the remaining contractual lives, adjusted for expected prepayments. The contractual term excludes expected extensions, renewals and modifications. Additionally, the allowance for credit losses considers other qualitative factors not included in historical loss rates or macroeconomic forecasts such as changes in portfolio composition, underwriting practices, or significant unique events or conditions.

See Note 6 “Loans and Allowance for Credit Losses” in the Notes to Consolidated Financial Statements included in this report for additional information regarding the allowance for credit losses. Inherent in this process is the evaluation and risk assessment of individual credit relationships. From time to time, certain credit relationships may deteriorate due to changes in payment performance, cash flow of the borrower, value of collateral, or other factors. Due to these changing circumstances, management may revise its loss estimates and assumptions for these specific credits. In some cases, losses may be realized; in other instances, the factors that led to the deterioration may improve or the credit may be refinanced elsewhere and allocated allowances may be released from the particular credit.

In addition, the Company considers that the determination of the valuation of foreclosed assets held for sale involves a high degree of judgment and complexity. The carrying value of foreclosed assets reflects management’s best estimate of the amount to be realized from the sale of the assets. While the estimate is generally based on a valuation by an independent appraiser or recent sales of similar properties, the amount that the Company realizes from the sale of the assets could differ materially from the carrying value reflected in the financial statements, resulting in gains or losses that could materially impact earnings in future periods.

Goodwill and Intangible Assets

Goodwill and intangible assets that have indefinite useful lives are subject to an impairment test at least annually and more frequently if circumstances indicate their value may not be recoverable. Goodwill is tested for impairment using a process that estimates the fair value of each of the Company’s reporting units compared with its carrying value. The Company defines reporting units as a level below each of its operating segments for which there is discrete financial information that is regularly reviewed. As of June 30, 2026, the Company had one reporting unit to which goodwill has been allocated – the Bank. If the fair value of a reporting unit exceeds its carrying value, then no impairment is recorded. If the carrying value exceeds the fair value of a reporting unit, further testing is completed comparing the implied fair value of the reporting unit’s goodwill to its carrying value to measure the amount of impairment. Intangible assets that are not amortized are tested for impairment at least annually by comparing the fair values of those assets to their carrying values. At June 30, 2026, goodwill consisted of $5.4 million at the Bank reporting unit, which included goodwill of $4.2 million that was recorded during 2016 related to the acquisition of 12 branches and the assumption of related deposits in the St. Louis market. Other identifiable deposit intangible assets that were subject to amortization were amortized on a straight-line basis over a period of seven years and have been fully amortized.

38

​

In April 2022, the Company, through its subsidiary Great Southern Bank, entered into a naming rights agreement with Missouri State University related to the main arena on its campus in Springfie

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/854560/000110465926024659/gsbc-20251231x10k.htm
Complete FY 2025 MD&A: /company/GSBC/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-06
Report date: 2025-12-31

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following sets forth selected consolidated financial information and other financial data of the Company. The summary statement of financial condition information and statement of income information are derived from our consolidated financial statements, which have been audited by Forvis Mazars, LLP. See Item 8. “Financial Statements and Supplementary Information.” Results for past periods are not necessarily indicative of results that may be expected for any future period.

​

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[[/GREPCENT_TABLE]]

​

64

Table of Contents

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[[/GREPCENT_TABLE]]

​

65

Table of Contents

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/GSBC/mda/fy2025/
All MD&A years: /company/GSBC/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/GSBC/mda/fy2024/): filed 2025-03-07; accession 0001410578-25-000294 (https://www.sec.gov/Archives/edgar/data/854560/000141057825000294/gsbc-20241231x10k.htm)
- [FY 2023 MD&A](/company/GSBC/mda/fy2023/): filed 2024-03-12; accession 0001410578-24-000178 (https://www.sec.gov/Archives/edgar/data/854560/000141057824000178/gsbc-20231231x10k.htm)
- [FY 2022 MD&A](/company/GSBC/mda/fy2022/): filed 2023-03-13; accession 0001410578-23-000244 (https://www.sec.gov/Archives/edgar/data/854560/000141057823000244/gsbc-20221231x10k.htm)
- FY 2021: filed 2022-03-07; accession 0001410578-22-000289 (https://www.sec.gov/Archives/edgar/data/854560/000141057822000289/gsbc-20211231x10k.htm); MD&A text quarantined because Item 7 boundaries were low-confidence; no filing narrative is published for this year.




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 6022 State Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit
- [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/GSBC.md · JSON record: /company/GSBC.json · verified financials: /company/GSBC/financials.json / /company/GSBC/financials.csv · machine TOC for the whole site: /llms.txt