Great Southern Reports 1Q Earnings Growth

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Great Southern Bancorp Inc. on April 19 released its preliminary earnings for the first quarter ended March 31, 2005. Earnings were 46 cents per diluted share or $6.47 million, which is an increase of 2.2 percent from 45 cents per share or $6.19 million during the same period in 2004.

Operating earnings per share for the end of the first quarter in 2004 and in 2005 were the same as reported earnings.

For the first quarter, annualized return on average equity was 18 percent and annualized return on average assets was 1.37 percent. The net interest margin for that period was 3.45 percent.

Stockholder’s equity at the end of the first quarter was $142.1 million, or 7.4 percent of total assets, equivalent to a book value of $10.36 per share.

Loan growth saw a 2 percent overall increase from December 31, 2004, Great Southern president and CEO Joseph W. Turner said in a released statement.

“Historically, the first quarter of the calendar year has not seen high levels of loan growth, with increases of 3.1 percent, 1.4 percent, and 0.0 percent in 2004, 2003, and 2002, respectively,” Turner said. “In all cases the full year loan growth in these years far exceeded the first quarter increases. We expect that 2005 will follow this trend.”

Great Southern Bancorp Inc. is the holding company for Great Southern Bank, which opened a 1,500-SF Rogers loan production facility in September 2003. The firm is based in Springfield, Mo.