Condensed Parent Company Statements

12 Months Ended

Dec. 31, 2021

Condensed Parent Company Statements

Condensed Parent Company Statements

Note 26:      Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2021 and 2020, and statements of income, comprehensive income and cash flows for the years ended December 31, 2021, 2020 and 2019, for the parent company, Great Southern Bancorp, Inc., were as follows:

	December 31,
	2021		2020
	(In Thousands)
Statements of Financial Condition
Assets
Cash	$	48,372	$	111,250
Investment in subsidiary bank		672,342		698,398
Deferred and accrued income taxes		94		157
Prepaid expenses and other assets		868		883
	$	721,676	$	810,688
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	$	5,166	$	6,776
Subordinated debentures issued to capital trust		25,774		25,774
Subordinated notes		73,984		148,397
Common stock		131		138
Additional paid-in capital		38,314		35,004
Retained earnings		545,548		541,448
Accumulated other comprehensive income		32,759		53,151
	$	721,676	$	810,688

	2021		2020		2019
	(In Thousands)
Statements of Income
Income
Dividends from subsidiary bank	$	74,000	$	40,000	$	32,000
Other income		—		5		—
Loss on other investments		—		—		(23)
		74,000		40,005		31,977
Expense
Operating expenses		2,121		2,197		2,044
Interest expense		7,613		7,459		5,397
		9,734		9,656		7,441
Income before income tax and equity in undistributed earnings of subsidiaries		64,266		30,349		24,536
Credit for income taxes		(1,850)		(1,800)		(1,381)
Income before equity in earnings of subsidiaries		66,116		32,149		25,917
Equity in undistributed earnings of subsidiaries		8,511		27,164		47,695
Net income	$	74,627	$	59,313	$	73,612

	2021		2020		2019
	(In Thousands)
Statements of Cash Flows
Operating Activities
Net income	$	74,627	$	59,313	$	73,612
Items not requiring (providing) cash
Equity in undistributed earnings of subsidiary		(8,511)		(27,164)		(47,695)
Compensation expense for stock option grants		1,225		1,153		922
Amortization of interest rate derivative and deferred costs on subordinated notes		587		608		434
Loss on other investments		—		—		23
Changes in
Prepaid expenses and other assets		15		(15)		(3)
Accounts payable and accrued expenses		(1,661)		31		226
Income taxes		63		(46)		300
Net cash provided by operating activities		66,345		33,880		27,819
Investing Activities
Return of principal - other investments		—		—		2
Net cash provided by investing activities		—		—		2
Financing Activities
Purchases of the Company’s common stock		(39,123)		(22,104)		(849)
Proceeds from issuance of subordinated notes		—		73,513		—
Redemption of subordinated notes		(75,000)		—		—
Dividends paid		(18,800)		(33,426)		(29,052)
Stock options exercised		3,700		661		4,158
Net cash provided by (used in) financing activities		(129,223)		18,644		(25,743)
Increase (Decrease) in Cash		(62,878)		52,524		2,078
Cash, Beginning of Year		111,250		58,726		56,648
Cash, End of Year	$	48,372	$	111,250	$	58,726
Additional Cash Payment Information
Interest paid	$	9,103	$	7,349	$	5,424

	2021		2020		2019
	(In Thousands)
Statements of Comprehensive Income
Net Income	$	74,627	$	59,313	$	73,612
Comprehensive income (loss) of subsidiaries		(20,392)		20,905		22,619
Comprehensive Income	$	54,235	$	80,218	$	96,231