Note 27: Condensed Parent Company Statements

12 Months Ended

Dec. 31, 2015

Notes

Note 27: Condensed Parent Company Statements

Note 27:    Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2015 and 2014, and statements of income, comprehensive income and cash flows for the years ended December 31, 2015, 2014 and 2013, for the parent company, Great Southern Bancorp, Inc., were as follows:

	December 31,
	2015	2014
(In Thousands)
Statements of Financial Condition
Assets
Cash	$20,009	$64,836
Available-for-sale securities	3,830	3,154
Investment in subsidiary bank	403,174	385,046
Prepaid expenses and other assets	1,335	1,466
	$428,348	$454,502
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	$3,403	$3,126
Deferred income taxes	944	702
Subordinated debentures issued to capital trust	25,774	30,929
Preferred stock	--	57,943
Common stock	139	138
Additional paid-in capital	24,371	22,345
Retained earnings	368,053	332,283
Accumulated other comprehensive income	5,664	7,036
	$428,348	$454,502

	2015	2014	2013
(In Thousands)
Statements of Income
Income
Dividends from subsidiary bank	$27,000	$36,000	$24,000
Interest and dividend income	5	22	20
Gain on redemption of trust preferred securities and sale of non-marketable securities	1,416	--	--
Other income (loss)	(7)	(20)	13
	28,414	36,002	24,033
Expense
Operating expenses	1,139	1,198	1,132
Interest expense	714	567	560
	1,853	1,765	1,692
Income before income tax and
equity in undistributed earnings
of subsidiaries	26,561	34,237	22,341
Credit for income taxes	(91)	(388)	(365)
Income before equity in earnings
of subsidiaries	26,652	34,625	22,706
Equity in undistributed earnings of
subsidiaries	19,850	8,904	11,023
Net income	$46,502	$43,529	$33,729

	2015	2014	2013
(In Thousands)
Statements of Cash Flows
Operating Activities
Net income	$46,502	$43,529	$33,729
Items not requiring (providing) cash
Equity in undistributed earnings of subsidiary	(19,850)	(8,904)	(11,023)
Compensation expense for stock option grants	382	565	443
Net realized gains on redemption of trust preferred
securities	(1,115)	--	--
Net realized gains on sales of non-marketable
securities	(301)	--	--
Amortization of interest rate derivative	204	19	--
Changes in
Prepaid expenses and other assets	(27)	(3)	4
Accounts payable and accrued expenses	63	(67)	(146)
Income taxes	55	43	1
Net cash provided by operating activities	25,913	35,182	23,008
Investing Activities
(Investment)/Return of principal - other investments	16	20	(13)
Net cash provided by (used in) investing
activities	16	20	(13)
Financing Activities
Purchase of interest rate derivative	--	--	(738)
Redemption of preferred stock	(57,943)	--	--
Redemption of trust preferred securities	(3,885)	--	--
Purchases of the Company’s common stock	--	(512)	--
Dividends paid	(12,290)	(11,257)	(7,964)
Stock options exercised	3,362	2,438	1,242
Net cash used in financing activities	(70,756)	(9,331)	(7,460)
Increase (Decrease) in Cash	(44,827)	25,871	15,535
Cash, Beginning of Year	64,836	38,965	23,430
Cash, End of Year	$20,009	$64,836	$38,965
Additional Cash Payment Information
Interest paid	$730	$570	$565

	2015	2014	2013
(In Thousands)
Statements of Comprehensive Income
Net Income	$46,502	$43,529	$33,729
Unrealized appreciation on available-for-sale securities, net of taxes of $273, $100 and $302, for 2015, 2014 and 2013, respectively	400	185	561
Change in fair value of cash flow hedge, net of taxes
(credit) of $(34), $(88) and $(19)  for 2015, 2014 and
2013, respectively	(50)	(164)	(34)
Comprehensive income (loss) of subsidiaries	(1,722)	4,553	(14,715)
Comprehensive Income	$45,130	$48,103	$19,541