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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, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans $ 43,166 $ 44,078 $ 86,910 $ 88,125
Investment securities and other 1,578 1,558 3,247 3,257
TOTAL INTEREST INCOME 44,744 45,636 90,157 91,382
INTEREST EXPENSE        
Deposits 5,004 4,121 9,969 8,056
Federal Home Loan Bank advances 244 257 499 696
Short-term borrowings and repurchase agreements 318 406 544 487
Subordinated debentures issued to capital trusts 252 190 493 363
Subordinated notes 1,025   2,050  
TOTAL INTEREST EXPENSE 6,843 4,974 13,555 9,602
NET INTEREST INCOME 37,901 40,662 76,602 81,780
PROVISION FOR LOAN LOSSES 1,950 2,300 4,200 4,401
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 35,951 38,362 72,402 77,379
NON-INTEREST INCOME        
Commissions 306 215 572 518
Service charges and ATM fees 5,394 5,374 10,662 10,653
Net realized gains on sales of loans 752 1,012 1,624 1,845
Net realized gains on sales of available-for-sale securities   2,735   2,738
Late charges and fees on loans 608 302 1,486 879
Loss on derivative interest rate products (20) (75) (13) (237)
Gain (loss) on termination of loss sharing agreements 7,704   7,704 (584)
Amortization of income/(expense) related to business acquisitions 4 (1,578) (485) (4,288)
Other income 1,052 931 1,946 2,366
TOTAL NON-INTEREST INCOME 15,800 8,916 23,496 13,890
NON-INTEREST EXPENSE        
Salaries and employee benefits 14,498 15,246 29,831 30,610
Net occupancy and equipment expense 6,025 6,379 12,341 13,221
Postage 874 957 1,807 1,958
Insurance 747 1,031 1,545 1,983
Advertising 656 522 1,069 963
Office supplies and printing 233 395 930 860
Telephone 789 904 1,599 1,826
Legal, audit and other professional fees 1,061 811 1,381 1,652
Expense on other real estate owned 677 874 1,251 1,785
Partnership tax credit investment amortization 217 420 495 840
Acquired deposit intangible asset amortization 412 490 825 1,033
Other operating expenses 2,182 1,778 3,867 3,995
TOTAL NON-INTEREST EXPENSE 28,371 29,807 56,941 60,726
INCOME BEFORE INCOME TAXES 23,380 17,471 38,957 30,543
PROVISION FOR INCOME TAXES 7,204 4,937 11,262 8,216
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 16,176 $ 12,534 $ 27,695 $ 22,327
BASIC EARNINGS PER COMMON SHARE $ 1.15 $ 0.90 $ 1.98 $ 1.61
DILUTED EARNINGS PER COMMON SHARE 1.14 0.89 1.95 1.59
DIVIDENDS DECLARED PER COMMON SHARE $ 0.24 $ 0.22 $ 0.46 $ 0.44