GSBC

EX-99.1

2 exh_991.htm

PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Great Southern Bancorp, Inc. Reports Preliminary Third Quarter Earnings of $1.27 Per Diluted Common Share Earnings Negatively Impacted in This Period by Non-Cash Hedge Accounting Adjustment

Preliminary Financial Results and Business Update for the Quarter Ended September 30, 2026

SPRINGFIELD, Mo., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (the “Company”) (NASDAQ:GSBC), the holding company for Great Southern Bank (the “Bank”), today reported that preliminary earnings for the three months ended September 30, 2026, were $1.27 per diluted common share ($14.0 million net income) compared to $1.56 per diluted common share ($17.8 million net income) for the three months ended September 30, 2025. The 2026 third quarter results were negatively impacted by non-cash cash flow hedge accounting adjustments recorded during the period, which is discussed below and under “Net Interest Income” and “Non-Interest Income.”

For the quarter ended September 30, 2026, annualized return on average common equity was 8.68%, annualized return on average assets was 0.99%, annualized net interest margin was 3.75% and the efficiency ratio was 67.57%, compared to 11.30%, 1.23%, 3.72% and 62.45%, respectively, for the quarter ended September 30, 2025.

Excluding the non-cash cash flow hedge accounting adjustments referenced above, for the quarter ended September 30, 2026, net income was $16.5 million, earnings per diluted common share were $1.50, annualized return on average common equity was 10.24%, annualized return on average assets was 1.17%, and the efficiency ratio was 63.68%. A reconciliation of these non-GAAP calculations is detailed in “Non-GAAP Financial Measures” below.

Key Results:

Net Interest Income: Net interest income for the third quarter of 2026 decreased $504,000 (1.0%) to $50.3 million compared to $50.8 million for the third quarter of 2025, largely driven by the completion of accounting recognition in October 2025 of interest income accretion from a previously terminated interest rate swap. Additionally, lower interest income on loans and an increase in short-term borrowings costs was mostly offset by lower interest expense on deposits and increased interest income on investment securities. Annualized net interest margin was 3.75% for the quarter ended September 30, 2026, compared to 3.72% for the quarter ended September 30, 2025, and 3.76% for the quarter ended June 30, 2026.

Asset Quality: Non-performing assets and potential problem loans totaled $11.9 million at September 30, 2026, an increase of $2.4 million from $9.5 million at December 31, 2025. At September 30, 2026, non-performing assets were $10.5 million (0.18% of total assets), an increase of $2.4 million from $8.1 million (0.15% of total assets) at December 31, 2025. See “Asset Quality” below. Other real estate owned increased to $20.4 million, primarily reflecting the reclassification of $11.1 million in closed banking center properties held for sale, rather than credit-related foreclosures.

Loans: Total net loans, excluding mortgage loans held for sale, decreased $108.4 million, or 2.5%, from $4.36 billion at December 31, 2025 to $4.25 billion at September 30, 2026. This decrease was primarily driven by decreases in commercial real estate loans and other residential (multi-family) loans, partially offset by an increase in construction loans. The Bank experienced an increased amount of loan prepayments in the 2026 second and third quarters compared to the first quarter of 2026.

Liquidity: The Company had secured borrowing line availability at the FHLBank and Federal Reserve Bank of $1.10 billion and $371 million, respectively, at September 30, 2026.

Capital: The Company’s capital position remained strong as of September 30, 2026, significantly exceeding the “well-capitalized” thresholds established by regulatory agencies. See “Capital” below.

Certain Income and Expense Item Impacting Third Quarter 2026 Results: During the three months ended September 30, 2026, there were certain income items that impacted the Company’s results of operations.

During the third quarter of 2026, the Company identified historical periods in which variable-rate loan balances meeting the original cash flow hedge designation criteria were insufficient to support the full designated notional amount of its interest rate swaps. Accordingly, portions of the swaps were not eligible to receive hedge accounting treatment during those periods. Related historical fair-value changes and settlements were required to be recognized in earnings rather than being accounted for under the original cash flow hedge designations. Consequently, amounts previously recorded in accumulated other comprehensive income relating to this portion of forecasted interest receipts determined to be probable of not occurring were reclassified into earnings. These historical adjustments resulted in a one-time, non-cash re

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.c706d217.1784380998.d6063801

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.c706d217.1784381000.d6064d58

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.