The following is a summary of the Great Southern Bancorp, Inc. (GSBC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 earnings were $17 million with $1.45 per diluted common share, with a positive shift from Q1 2024's earnings of $13.4 million at $1.13 per share.

• Net interest income for Q2 2024 was $46.8 million, an increase from Q1 2024.

• Net interest margin dropped to 3.43% in Q2 2024 from 3.56% in Q2 2023.

Business Progress:

• Significant increases primarily in multifamily loans, transitioning from construction loans to permanent, leading to a $44 million growth in the loan portfolio since the end of 2023.

• Capital and liquidity positions remain robust, with $568.8 million in total stockholders' equity and about $2 billion in total liquidity resources.

• The company also continues its strategic activity with stock repurchases, buying back approximately 237,000 shares so far in 2024.

Opportunities:

• The maturation of multifamily construction loans transitioning to permanent financing provided growth in the loan portfolio.

Risks:

• Non-performing assets rose modestly to $20.4 million, causing slight increases in credit risk markers like non-performing assets to total assets ratio.

More details: Great Southern Bancorp IR

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