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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 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST INCOME        
Loans $ 40,087 $ 44,606 $ 122,226 $ 124,572
Investment securities and other 2,932 5,553 11,630 18,486
TOTAL INTEREST INCOME 43,019 50,159 133,856 143,058
INTEREST EXPENSE        
Deposits 2,822 5,092 9,611 16,663
Federal Home Loan Bank advances 1,005 1,023 2,968 3,430
Short-term borrowings and repurchase agreements 587 634 1,758 1,993
Interest expense on subordinated debentures issued to capital trusts 141 155 421 468
TOTAL INTEREST EXPENSE 4,555 6,904 14,758 22,554
NET INTEREST INCOME 38,464 43,255 119,098 120,504
Provision for loan losses 2,677 8,400 14,573 36,077
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 35,787 34,855 104,525 84,427
NON-INTEREST INCOME        
Commissions 158 231 836 769
Service charges and ATM fees 4,729 4,900 13,800 14,272
Net realized gains on sales of loans 1,179 1,404 4,236 3,650
Net realized gains on sales and impairments of available-for-sale securities     241 1,787
Late charges and fees on loans 284 195 785 605
Gain (loss) on derivative interest rate products (125) (104) 283 (124)
Initial gain recognized on business acquisition       31,312
Accretion (amortization) of income/expense related to business acquisitions (6,339) (5,959) (17,900) (12,147)
Other non-interest income 933 911 3,898 3,898
TOTAL NON-INTEREST INCOME 929 2,085 6,179 44,022
NON-INTEREST EXPENSE        
Salaries and employee benefits 13,034 13,013 39,334 38,842
Net occupancy and equipment expense 5,216 5,556 15,451 15,234
Postage 790 845 2,454 2,473
Insurance 1,083 1,143 3,204 3,321
Advertising 433 449 1,599 1,216
Office supplies and printing 320 340 950 1,061
Telephone 679 684 2,169 2,088
Legal, audit and other professional fees 1,186 946 2,936 3,366
Expense on foreclosed assets 1,068 2,536 3,478 4,203
Partnership tax credit investment amortization 1,578 1,463 4,500 3,799
Other operating expenses 1,791 2,177 5,663 6,691
TOTAL NON-INTEREST EXPENSE 27,178 29,152 81,738 82,294
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 9,538 7,788 28,966 46,155
PROVISION FOR INCOME TAXES 1,099 746 3,910 10,447
NET INCOME FROM CONTINUING OPERATIONS 8,439 7,042 25,056 35,708
DISCONTINUED OPERATIONS        
Income from discontinued operations, net of income taxes   62   549
Net income 8,439 7,104 25,056 36,257
Preferred stock dividends 145 150 435 440
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 8,294 $ 6,954 $ 24,621 $ 35,817
BASIC EARNINGS PER COMMON SHARE $ 0.61 $ 0.51 $ 1.81 $ 2.65
DILUTED EARNINGS PER COMMON SHARE $ 0.61 $ 0.51 $ 1.80 $ 2.62
BASIC EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS $ 0.61 $ 0.50 $ 1.81 $ 2.61
DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS $ 0.61 $ 0.50 $ 1.80 $ 2.59
DIVIDENDS DECLARED PER COMMON SHARE $ 0.18 $ 0.18 $ 0.54 $ 0.54