NASDAQ$GSBC

Great Southern Bancorp Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported preliminary first quarter earnings with solid performance ratios.

Great Southern Bancorp reported preliminary earnings for the first quarter of 2022 at $1.30 per diluted common share, totaling $17.0 million. While this is slightly lower than the $1.36 per share ($18.9 million) from Q1 2021, key performance ratios such as annualized return on average assets (1.27%) and equity (11.14%) remained strong. The net interest margin improved to 3.43% from both the previous quarter and the same period last year.

  • First quarter earnings were $1.30 per diluted common share ($17.0 million available to common shareholders).
  • Annualized return on average assets was 1.27%, and annualized return on average equity was 11.14%.
  • Net interest margin improved to 3.43% from 3.41% in the first quarter of 2021.
  • Total loans, excluding mortgage loans held for sale, increased by approximately $104 million, or 2.5%.

Headline financials

Total Revenue

$52.4M

Previous: $53.8M-2.6%
EPS (adj)

$1.30

Previous: $1.36-4.4%
Net Interest Margin

3.4%

No prior period
Return on Avg Assets

1.3%

No prior period
Return on Avg Common Equity

11.1%

No prior period
Efficiency Ratio

59.6%

Previous: 56.3%+5.8%
NPA to Period-End Assets

0.1%

No prior period
Tier 1 Leverage Ratio

11.2%

No prior period
CET1 Capital Ratio

12.0%

No prior period
Total Capital Ratio

15.3%

No prior period
Capital Expenditures

-$1.47M

Previous: -$1.16M-26.5%
Free Cash Flow

$15.5M

Previous: $17.7M-12.4%
Net Income

$17M

Previous: $18.9M-10.0%
Operating Income

$17.1M

Previous: $13.5M+26.8%
Gross Profit

$52.1M

Previous: $53.5M-2.6%
Cash & Equivalents

$353M

Previous: $613M-42.4%
Total Assets

$5.37B

Previous: $5.6B-4.1%

Revenue & EPS history

Great Southern · Revenue · Quarterly

$52.4M

Q1 2022-2.6%vs Q1 2021
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Forward guidance

The Federal Reserve Open Market Committee continues to signal a fairly quick rise in interest rates in 2022, which should positively impact our net interest income. Also, late in the first quarter of 2022, we used some of our excess funds that were being held at the Federal Reserve Bank to purchase investment securities, which will generate additional interest income.

Tailwinds

  • Expected rise in interest rates should positively impact net interest income.
  • Deployment of excess funds into investment securities will generate additional interest income.
  • Vigorous loan production and activity in our markets.
  • Loan commitments and the unfunded portion of loans grew by about $98 million from the end of 2021.
  • Credit quality metrics remained excellent.

Headwinds

  • Continued economic and societal uncertainty ahead.
  • Much lower net deferred fee income accretion from PPP loans.
  • Lower income from the sale of fixed rate mortgage loans.
  • Repayment headwinds continue periodically.
  • Increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect the Company’s revenues and the values of its assets and liabilities

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-0.0%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+1.8%

Avg return

30 days after

55%

36 / 66 earnings

Positive

+6.8%

Q1 2013

Best reaction

-11.1%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%+0.0%+0.4%
Q4 2025-1.3%-9.3%-3.7%
Q3 2025-11.1%-8.0%-6.1%
Q2 2025-1.5%+0.5%+4.4%
Q1 2025+3.6%+6.3%+11.5%
Q4 2024-2.3%-2.9%-2.0%
Q3 2024-0.9%-4.6%+8.1%
Q2 2024+0.0%-1.0%-10.3%
Q1 2024+1.2%+5.1%+5.8%
Q4 2023-0.8%-2.9%-9.7%
Q3 2023-1.8%-2.7%+7.5%
Q2 2023-5.8%-4.8%-7.2%
Q1 2023+5.7%+5.9%+2.3%
Q4 2022-4.6%-3.9%+0.6%
Q3 2022-5.3%-2.3%+0.6%
Q2 2022+1.1%+3.3%+3.3%
Q1 2022+4.0%+2.2%-1.2%
Q4 2021-0.0%-0.9%+1.1%
Q3 2021+0.1%-0.2%+1.7%
Q2 2021-1.4%+0.9%+3.2%
Q1 2021+0.1%+0.4%+1.3%
Q4 2020-4.4%-2.6%+5.3%
Q3 2020+3.3%+6.4%+18.0%
Q2 2020+3.6%+1.2%+1.4%
Q1 2020-1.1%+0.9%+1.2%
Q4 2019-1.9%-5.6%-8.2%
Q3 2019+3.9%+6.7%+6.1%
Q2 2019+0.3%-1.3%-4.1%
Q1 2019+2.6%+1.5%+2.1%
Q4 2018+0.5%+5.1%+12.8%
Q3 2018+0.4%+0.7%+5.1%
Q2 2018+2.5%+4.4%+1.6%
Q1 2018+0.1%+3.3%+10.8%
Q4 2017+1.6%+0.8%-3.5%
Q3 2017-1.1%-4.2%-6.6%
Q2 2017+1.7%+1.2%-7.0%
Q1 2017+3.6%+7.9%-0.2%
Q4 2016+0.0%+1.2%+1.3%
Q3 2016+1.8%+0.1%+21.2%
Q2 2016+1.0%+0.9%+4.0%
Q1 2016+2.4%
Q4 2015+3.5%
Q3 2015+0.0%
Q2 2015+0.2%
Q1 2015+0.2%
Q4 2014-0.6%
Q3 2014-0.7%
Q2 2014+1.0%
Q1 2014+3.0%
Q4 2013-2.0%
Q3 2013-3.7%
Q2 2013+0.3%
Q1 2013+6.8%
Q4 2012-1.1%
Q3 2012+0.5%
Q2 2012-0.3%
Q1 2011-1.7%
Q1 2012+0.5%
Q4 2011+3.0%
Q4 2009+3.0%
Q3 2011-3.2%
Q3 2010-3.2%
Q4 2010-2.8%
Q2 2011-2.8%
Q2 2010-2.8%
Q1 2010+2.9%

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