Great Southern Bancorp, Inc. (NASDAQ:GSBC) reported preliminary financial results for the three months ended September 30, 2026, showing net income of $14.0 million, or $1.27 per diluted common share. This represents a decrease from the $17.8 million, or $1.56 per diluted share, reported in the same period of 2025.
The company attributed the decline in earnings to a non-cash cash flow hedge accounting adjustment. Excluding this adjustment, net income for the quarter was $16.5 million, or $1.50 per diluted share. The pre-tax impact of the adjustment was approximately $3.3 million, which had zero impact on total stockholders' equity or cash balances.
Key financial metrics for the third quarter of 2026 included an annualized return on average common equity of 8.68% and an annualized net interest margin of 3.75%. The efficiency ratio was 67.57%. Total net loans, excluding mortgage loans held for sale, decreased by $108.4 million, or 2.5%, from the end of 2025 to $4.25 billion. The decrease was driven by repayments and refinancing in commercial real estate and multi-family loans, partially offset by increased construction loan funding.
Asset quality metrics showed total non-performing assets of $10.5 million, or 0.18% of total assets, and non-performing loans at 0.03%. Other real estate owned increased to $20.4 million, primarily due to the reclassification of closed banking center properties held for sale rather than credit-related foreclosures. The company reported no provision for credit losses on loans for the quarter.
Regarding capital and liquidity, Great Southern Bancorp reported tangible common equity of 10.4% of tangible assets and book value per common share of $56.97. The company repurchased 159,212 common shares during the quarter and received Board approval in October 2026 for a new repurchase authorization of up to one million shares.
