Great Southern (GSBC) Earnings Call Transcript

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Thursday, April 16, 2026 astatine 3 p.m. ET

• President and Chief Executive Officer — Joseph Turner

• Senior Vice President and Chief Financial Officer — Rex Copeland

Joseph Turner: Okay. Thanks, Christina, and bully day to everyone connected the call. We admit you joining america today. Our archetypal 4th 2026 results bespeak a coagulated commencement to the twelvemonth successful a continuing competitory operating environment. Both recognition and net metrics stay strong, allowing for continued advancement successful our pursuit of meaningful per stock tangible publication worth growth. This advancement was underpinned by disciplined disbursal management, cautious equilibrium expanse structuring and a continued accent connected relationship-based banking. In the archetypal 4th of 2026, we reported nett income of $17.5 cardinal oregon $1.58 per diluted communal stock compared to $17.2 cardinal oregon $1.47 per stock successful the twelvemonth agone quarter.

Compared to the 4th fourth of 2025, nett income was up from $16.3 cardinal oregon $1.45 per diluted share. Overall, results for the 4th reflected a resilient nett involvement margin, prudent plus liability management, thoughtful superior allocation and unchangeable indebtedness balances. Net involvement income totaled $48.3 cardinal for the quarter. That was down astir $1 cardinal from the archetypal 4th of '25, chiefly arsenic a effect of the lack of the income from our present terminated involvement complaint swap. That was, I think, astir $2 cardinal successful Q1 of '25. Despite this mislaid income, our quality to strategically negociate backing costs portion maintaining charismatic plus yields allowed for beardown nett involvement income for the quarter.

Additionally, we benefited from the postulation of $483,000 successful unbooked involvement this quarter, which further supported our nett involvement income. Our annualized borderline was 3.71% compared to 3.57% successful 2025 archetypal 4th and 3.70% successful the 4th fourth of '25. And I deliberation the -- if you pulled retired the $483,000 of somewhat antithetic involvement income that mightiness person knocked 3 oregon 4 ground points of the borderline number. Total loans accrued astir $100 cardinal during the quarter. Loan maturation was chiefly successful construction, commercialized existent property lending, though that maturation was partially offset by a diminution successful the multifamily category.

While this equilibrium expanse maturation supported net successful the quarter, period-to-period indebtedness trends are influenced importantly by indebtedness repayments from our borrowers. In the archetypal 4th of '26, our indebtedness repayments were little than our quarterly mean during the -- during 2025 and decidedly during the past fractional of 2025. As such, we stay committed to measured indebtedness origination and disciplined underwriting. From a recognition standpoint, we stay mindful of the volatility and the macroeconomic challenges affecting our borrowers. Asset prime metrics successful the archetypal 4th of '26 stay precise beardown for our slope with nonperforming assets to full assets of 0.18% with virtually nary charge-offs.