Great Southern Bancorp, Inc. (GSBC) Q3 FY2026 earnings

Reported results

• Net interest income decreased $504,000 (1.0%) to $50.3 million in Q3 2026 from $50.8 million in Q3 2025; annualized net interest margin was 3.75% compared to 3.72% in Q3 2025
• Non-interest income decreased $3.7 million to $3.4 million, primarily driven by a $4.1 million reduction related to retrospective hedge accounting corrections and reclassification of AOCI
• Non-interest expense increased $158,000 to $36.3 million in Q3 2026 from $36.1 million in Q3 2025; efficiency ratio was 67.57% compared to 62.45% in Q3 2025
• Non-performing assets were $10.5 million (0.18% of total assets) at September 30, 2026, an increase of $2.4 million from $8.1 million at December 31, 2025
• Total net loans decreased $108.4 million (2.5%) to $4.25 billion at September 30, 2026 from $4.36 billion at December 31, 2025
• Excluding the non-cash hedge accounting adjustment, non-GAAP net income was $16.5 million, or $1.50 per diluted common share, with annualized non-GAAP return on average assets of 1.17% and non-GAAP efficiency ratio of 63.68%

Guidance

• Expected to record approximately $520,000 of additional interest income in each of the upcoming quarters through Q1 2028, with an additional $170,000 in Q2 2028, from reclassification of frozen OCI and recognition of off-market components of redesignated interest rate swaps
• Banking center consolidations and workforce reductions expected to result in approximately $2.3 - $2.7 million in annual pre-tax income improvement beginning in Q4 2026
• Expected effective tax rate (combined federal and state) of approximately 18.0% to 19.5% in future periods

Notes

The company identified historical periods in which variable-rate loan balances were insufficient to support full designated notional amount of interest rate swaps, resulting in a one-time non-cash reclassification charge of approximately $3.5 million (before tax effect) or $2.5 million after-tax ($0.23 per diluted share). The company adopted ASU 2025-09 and redesignated two existing interest rate swaps with combined notional amount of $400 million. The $3.5 million charge will be entirely recovered through interest income over the remaining life of the redesignated swaps through May 2028. Also, the company completed consolidation of nine banking centers and elimination of 66 positions as of October 1, 2026, and in October 2026, the Board approved a new stock repurchase authorization of up to one million shares.

Price and volatility reaction

The stock moved +1.1% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -0.5 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.