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GREAT SOUTHERN BANCORP, INC. AND SUBSIDIARIES -- CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Loans $ 43,947 $ 41,412 $ 89,896 $ 80,721
Investment securities and other 1,787 2,972 3,744 5,958
TOTAL INTEREST INCOME 45,734 44,384 93,640 86,679
INTEREST EXPENSE        
Deposits 3,133 2,752 6,294 5,413
Federal Home Loan Bank advances 416 1,010 863 1,984
Short-term borrowings and repurchase agreements 16 512 37 1,069
Interest expense on subordinated debentures issued to capital trusts 160 139 312 275
TOTAL INTEREST EXPENSE 3,725 4,413 7,506 8,741
NET INTEREST INCOME 42,009 39,971 86,134 77,938
PROVISION FOR LOAN LOSSES 1,300 1,462 2,600 3,154
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 40,709 38,509 83,534 74,784
NON-INTEREST INCOME        
Commissions 299 344 580 626
Service charges and ATM fees 5,026 4,728 9,670 8,896
Net realized gains on sales of loans 1,059 608 (1,999) (1,157)
Net realized gains on sales of available-for-sale securities   569   642
Late charges and fees on loans 762 265 1,110 579
Gain (loss) on derivative interest rate products 113 (130) 20 (233)
Initial gain recognized on business acquisition   10,805   (10,805)
Amortization of income/expense related to business acquisitions (5,158) (7,210) (12,054) (13,598)
Other income 1,356 652 2,074 2,681
TOTAL NON-INTEREST INCOME 3,457 10,631 3,399 11,555
NON-INTEREST EXPENSE        
Salaries and employee benefits 14,606 13,470 29,183 26,487
Net occupancy and equipment expense 6,115 5,210 12,169 10,614
Postage 912 844 1,801 1,637
Insurance 856 953 1,835 1,879
Advertising 750 438 1,182 1,169
Office supplies and printing 378 367 715 657
Telephone 767 681 1,532 1,417
Legal, audit and other professional fees 664 908 1,287 1,841
Expense on foreclosed assets 318 1,342 703 2,192
Partnership tax credit investment amortization 420 427 840 880
Other operating expenses 2,163 9,759 3,942 11,520
TOTAL NON-INTEREST EXPENSE 27,949 34,399 55,189 60,293
INCOME BEFORE INCOME TAXES 16,217 14,741 31,744 26,046
PROVISION FOR INCOME TAXES 4,214 3,687 8,088 6,174
NET INCOME 12,003 11,054 23,656 19,872
Preferred stock dividends 145 145 290 290
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 11,858 $ 10,909 $ 23,366 $ 19,582
BASIC EARNINGS PER COMMON SHARE $ 0.86 $ 0.80 $ 1.69 $ 1.43
DILUTED EARNINGS PER COMMON SHARE 0.85 0.79 1.67 1.42
DIVIDENDS DECLARED PER COMMON SHARE $ 0.22 $ 0.20 $ 0.42 $ 0.40