Company Description
Holding company for Great Southern Bank, operating across the Midwest and Southeast with a heavy focus on residential and commercial real estate lending.
Current Stock Price
~$66.97
Market Capitalization
~$750 million
Valuation
Trading at a P/E of ~10.8x based on FY2025 earnings of $6.19 per share.
Great Southern Bancorp, Inc. (NASDAQ: GSBC) delivered a strong Q4 2025 with EPS of $1.45, up from $1.27 a year ago. Contrary to “compression” fears, the NIM expanded significantly to 3.70% (vs. 3.49% in Q4 2024). This was achieved through a disciplined reduction in interest expenses, which fell to $24.3 million from $33.1 million year-over-year.
The bank is intentionally shrinking its balance sheet to protect quality; total net loans decreased 7.1% year-over-year to $4.36 billion. This conservative stance resulted in a 42.8% drop in non-performing assets, which now stand at a negligible $9.5 million.
Reasons to Pass on GSBC
- Negative Loan Growth: The 7% contraction in the loan book suggests a lack of appetite for new business in the current rate environment.
- Swap Headwinds: The completion of a major interest rate swap in Oct 2025 removed a key income tailwind ($2M/quarter), which may pressure NII in early 2026.