Note 15: Subsequent Event - Loan Purchase	3 Months Ended
Sep. 30, 2013
Notes
Note 15: Subsequent Event - Loan Purchase	NOTE 15: SUBSEQUENT EVENT – LOAN PURCHASE On October 25, 2013, the Bank completed an acquisition of loans with a par value totaling $86.1 million which were being auctioned by an unrelated FDIC-insured financial institution. The acquired loan portfolio included 119 loans with collateral securing the notes consisting primarily of multi-family real estate in Minnesota, Michigan, Wisconsin, Illinois and Indiana. The Bank paid $87.9 million for the loans, which resulted in a 2.125% premium over the principal balances of the portfolio. The process of bidding on the portfolio was competitive in nature with numerous institutions bidding on all or a portion of the loans. The Bank estimates the average yield of the portfolio to be approximately 4.3% based on the weighted average maturity of the portfolio (less than four years), with an average yield potentially as high as 4.7% if loan balances are retained beyond the initial maturity dates. As part of the due diligence process, lending personnel of the Bank re-underwrote each of the 119 loans in order to determine the credit quality of the portfolio in addition to an extensive review of the enforceability and validity of the loan and collateral documents. Portfolio underwriting included assessments of maturities concentration, adjustable vs. fixed rate financing based on loan maturity, and geographic concentration. Each property securing a loan in the portfolio was inspected by a senior member of the Great Southern Bank Loan Committee as part of the due diligence process completed prior to the final bid.

Note 15: Subsequent Event - Loan Purchase

3 Months Ended

Sep. 30, 2013

Note 15: Subsequent Event - Loan Purchase

NOTE 15: SUBSEQUENT EVENT – LOAN PURCHASE

On October 25, 2013, the Bank completed an acquisition of loans with a par value totaling $86.1 million which were being auctioned by an unrelated FDIC-insured financial institution. The acquired loan portfolio included 119 loans with collateral securing the notes consisting primarily of multi-family real estate in Minnesota, Michigan, Wisconsin, Illinois and Indiana. The Bank paid $87.9 million for the loans, which resulted in a 2.125% premium over the principal balances of the portfolio.

The process of bidding on the portfolio was competitive in nature with numerous institutions bidding on all or a portion of the loans. The Bank estimates the average yield of the portfolio to be approximately 4.3% based on the weighted average maturity of the portfolio (less than four years), with an average yield potentially as high as 4.7% if loan balances are retained beyond the initial maturity dates.

As part of the due diligence process, lending personnel of the Bank re-underwrote each of the 119 loans in order to determine the credit quality of the portfolio in addition to an extensive review of the enforceability and validity of the loan and collateral documents. Portfolio underwriting included assessments of maturities concentration, adjustable vs. fixed rate financing based on loan maturity, and geographic concentration. Each property securing a loan in the portfolio was inspected by a senior member of the Great Southern Bank Loan Committee as part of the due diligence process completed prior to the final bid.