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GREAT SOUTHERN BANCORP, INC. AND SUBSIDIARIES -- CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST INCOME        
Loans $ 39,362 $ 42,068 $ 82,140 $ 79,966
Investment securities and other 4,119 6,153 8,697 12,932
TOTAL INTEREST INCOME 43,481 48,221 90,837 92,898
INTEREST EXPENSE        
Deposits 3,263 5,786 6,789 11,570
Federal Home Loan Bank advances 989 1,132 1,963 2,406
Short-term borrowings and repurchase agreements 588 672 1,170 1,358
Interest expense on subordinated debentures issued to capital trusts 140 154 281 315
TOTAL INTEREST EXPENSE 4,980 7,744 10,203 15,649
NET INTEREST INCOME 38,501 40,477 80,634 77,249
PROVISION FOR LOAN LOSSES 3,671 17,600 11,896 27,677
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 34,830 22,877 68,738 49,572
NON-INTEREST INCOME        
Commissions 350 263 678 538
Service charges and ATM fees 4,644 4,881 9,071 9,372
Net realized gains on sales of loans 1,628 1,097 3,057 2,246
Net realized gains on sales of available-for-sale securities 97 1,251 131 1,280
Late charges and fees on loans 201 238 501 411
Gain (loss) on derivative interest rate products 347 (117) 408 (20)
Initial gain recognized on business acquisition   31,312   31,312
Accretion (amortization) of income/expense related to business acquisitions (5,694) (4,440) (11,561) (6,188)
Other non-interest income 754 1,363 2,965 2,985
TOTAL NON-INTEREST INCOME 2,327 35,848 5,250 41,936
NON-INTEREST EXPENSE        
Salaries and employee benefits 13,078 13,292 26,300 25,829
Net occupancy and equipment expense 5,100 4,976 10,235 9,678
Postage 871 820 1,664 1,628
Insurance 957 1,081 2,121 2,177
Advertising 691 431 1,166 766
Office supplies and printing 323 340 629 720
Telephone 803 691 1,490 1,404
Legal, audit and other professional fees 948 1,560 1,750 2,421
Expense on foreclosed assets 1,355 1,228 2,410 1,668
Partnership tax credit 1,537 1,171 2,922 2,336
Other operating expenses 1,954 2,567 3,873 4,514
TOTAL NON-INTEREST EXPENSE 27,617 28,157 54,560 53,141
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 9,540 30,568 19,428 38,367
PROVISION FOR INCOME TAXES 1,316 9,039 2,810 9,701
NET INCOME FROM CONTINUING OPERATIONS 8,224 21,529 16,618 28,666
DISCONTINUED OPERATIONS        
Income from discontinued operations, net of income taxes   127   487
NET INCOME 8,224 21,656 16,618 29,153
Preferred stock dividends 145 144 290 290
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 8,079 $ 21,512 $ 16,328 $ 28,863
BASIC EARNINGS PER COMMON SHARE $ 0.59 $ 1.59 $ 1.20 $ 2.14
DILUTED EARNINGS PER COMMON SHARE $ 0.59 $ 1.58 $ 1.19 $ 2.12
BASIC EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS $ 0.59 $ 1.58 $ 1.20 $ 2.10
DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS $ 0.59 $ 1.57 $ 1.19 $ 2.09
DIVIDENDS DECLARED PER COMMON SHARE $ 0.18 $ 0.18 $ 0.36 $ 0.36