- Great Southern Bancorp (GSBC, Financial) reports 30.1% increase in Q1 2025 EPS to $1.47 per share.
- Net interest income grows by 10.1% year-over-year, reaching $49.3 million.
- Board approves new stock repurchase program for up to one million additional shares.
Great Southern Bancorp, Inc. (NASDAQ:GSBC) has reported a strong start to 2025 with impressive first-quarter results. The company achieved earnings of $1.47 per diluted share, a significant increase from $1.13 in the same quarter of the previous year. This earnings enhancement corresponds to a net income rise to $17.2 million, from $13.4 million year-over-year.
Key metrics improved notably during the quarter. Net interest income expanded by $4.5 million, equating to a 10.1% increase to total $49.3 million, driven by higher loan interest income and enhanced yields. Consequently, the net interest margin improved to 3.57%, up from 3.32% in Q1 2024.
Asset quality remained robust, as non-performing assets were recorded at $9.5 million, representing a mere 0.16% of total assets, indicating robust risk management and lending practices. Additionally, Great Southern Bancorp's capital ratios, such as a Tier 1 Leverage Ratio of 11.3% and a Total Capital Ratio of 15.6%, reflect a strong capital position.
In a show of confidence in the company’s financial standing and commitment to shareholder value, the Board authorized a new stock repurchase program allowing for the purchase of up to one million additional shares, replacing the existing program which had about 270,000 shares remaining. Nearly 175,000 shares were repurchased in the first quarter of 2025.
The company foresees a potential headwind of losing approximately $2 million in quarterly interest income from a terminated swap after Q3 2025. Nonetheless, Great Southern Bancorp maintains a positive outlook given its robust earnings trajectory and solid balance sheet.
