Condensed Parent Company Statements

12 Months Ended

Dec. 31, 2020

Condensed Parent Company Statements

Condensed Parent Company Statements

Note 26:      Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2020 and 2019, and statements of income, comprehensive income and cash flows for the years ended December 31, 2020, 2019 and 2018, for the parent company, Great Southern Bancorp, Inc., were as follows:

	December 31,
	2020		2019
	(In Thousands)
Statements of Financial Condition
Assets
Cash	$	111,250	$	58,726
Investment in subsidiary bank		698,398		650,329
Deferred and accrued income taxes		157		111
Prepaid expenses and other assets		883		868
	$	810,688	$	710,034
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	$	6,776	$	6,918
Subordinated debentures issued to capital trust		25,774		25,774
Subordinated notes		148,397		74,276
Common stock		138		143
Additional paid-in capital		35,004		33,510
Retained earnings		541,448		537,167
Accumulated other comprehensive income		53,151		32,246
	$	810,688	$	710,034

	2020		2019		2018
	(In Thousands)
Statements of Income
Income
Dividends from subsidiary bank	$	40,000	$	32,000	$	34,000
Other income		5		—		—
Loss on other investments		—		(23)		—
		40,005		31,977		34,000
Expense
Operating expenses		2,197		2,044		1,793
Interest expense		7,459		5,397		5,050
		9,656		7,441		6,843
Income before income tax and equity in undistributed earnings of subsidiaries		30,349		24,536		27,157
Credit for income taxes		(1,800)		(1,381)		(1,204)
Income before equity in earnings of subsidiaries		32,149		25,917		28,361
Equity in undistributed earnings of subsidiaries		27,164		47,695		38,748
Net income	$	59,313	$	73,612	$	67,109

	2020		2019		2018
	(In Thousands)
Statements of Cash Flows
Operating Activities
Net income	$	59,313	$	73,612	$	67,109
Items not requiring (providing) cash
Equity in undistributed earnings of subsidiary		(27,164)		(47,695)		(38,748)
Compensation expense for stock option grants		1,153		922		737
Amortization of interest rate derivative and deferred costs on subordinated notes		608		434		154
Loss on other investments		—		23		—
Changes in
Prepaid expenses and other assets		(15)		(3)		13
Accounts payable and accrued expenses		31		226		182
Income taxes		(46)		300		(278)
Net cash provided by operating activities		33,880		27,819		29,169
Investing Activities
Return of principal - other investments		—		2		—
Net cash provided by investing activities		—		2		—
Financing Activities
Purchases of the Company’s common stock		(22,104)		(849)		(903)
Proceeds from issuance of subordinated notes		73,513		—		—
Dividends paid		(33,426)		(29,052)		(15,819)
Stock options exercised		661		4,158		2,224
Net cash used in financing activities		18,644		(25,743)		(14,498)
Increase in Cash		52,524		2,078		14,671
Cash, Beginning of Year		58,726		56,648		41,977
Cash, End of Year	$	111,250	$	58,726	$	56,648
Additional Cash Payment Information
Interest paid	$	7,349	$	5,424	$	5,001

	2020		2019		2018
	(In Thousands)
Statements of Comprehensive Income
Net Income	$	59,313	$	73,612	$	67,109
Comprehensive income of subsidiaries		20,905		22,619		8,114
Comprehensive Income	$	80,218	$	96,231	$	75,223