The GAAP miss is largely driven by a non-cash hedge accounting charge that management expects to reverse through 2028. Focus on the Q4 2026 earnings to confirm the branch consolidation savings materialize and to see if loan/deposit trends stabilize. The new buyback signals management confidence, but declining book value and rising NPAs warrant caution.
Price Chart
Executive Summary
Great Southern Bancorp reported Q3 2026 GAAP diluted EPS of $1.27, a 17.5% miss vs consensus of $1.54, and net income of $14.0M, down 21% YoY. Results were impacted by a non-cash $2.5M after-tax hedge accounting charge; excluding that, non-GAAP EPS was $1.50, roughly in line. Net interest income slipped 1% to $50.3M, while NIM improved 3bp to 3.75%. The bank completed branch consolidations and authorized a new 1M-share buyback.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $1.27 vs consensus $1.54 (17.5% miss)
- Net income $14.0M vs $17.8M in Q3 2025 (-21.1%)
- Non-GAAP EPS excluding hedge accounting adjustment: $1.50
- Net interest income $50.3M, down 1.0% YoY
- Net interest margin 3.75%, up 3bp YoY
- Non-performing assets $10.5M (0.18% of assets), up from $8.1M at Dec 2025
- Loans declined 2.5% from Dec 2025 to $4.25B
- Total deposits fell 9.2% YTD to $4.07B; brokered deposits down 45%
- Book value per share $56.97, down from $57.50 at Dec 2025
- New 1M-share buyback authorized in Oct 2026
- Branch consolidation expected to generate $2.3-$2.7M annual pre-tax savings starting Q4 2026
Financial Impact
GAAP EPS miss of $0.27 (17.5%) vs consensus; non-GAAP EPS of $1.50 roughly in line with $1.54 consensus. Net income decline of $3.7M YoY.
Risk Factors
- Further interest rate increases could widen unrealized losses on the investment portfolio and pressure tangible common equity
- Continued loan runoff and deposit attrition could compress NIM and reduce earning assets
- Hedge accounting adjustments may recur if variable-rate loan balances remain insufficient to support swap notional
- Branch consolidation savings may be offset by higher-than-expected customer deposit attrition
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-006766 |
| Exhibit: exh_992.htm | 0001171843-26-006766 |
| Exhibit: exh_993.htm | 0001171843-26-006766 |
| Document: f8k_102126.htm | 0001171843-26-006766 |
| Document: 0001171843-26-006766-index-headers.html | 0001171843-26-006766 |
| Document: 0001171843-26-006766-index.html | 0001171843-26-006766 |
| Document: 0001171843-26-006766.txt | 0001171843-26-006766 |
| 8-K Data (Synthetic) | 0001171843-26-006766 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $78.93 | awaiting T+60 | — | $81.08 (−2.72%) |
Oct 21, 2026 5d ago | Press Release | $78.93 | awaiting T+60 | — | $81.08 (−2.72%) |
Sep 24, 2026 4w ago | Press Release | $78.91 | awaiting T+60 | — | $81.08 (+2.75%) |
Sep 16, 2026 5w ago | Press Release | $79.39 | awaiting T+60 | — | $81.08 (+2.13%) |
Jul 16, 2026 14w ago | 8-K | $80.11 $76.75 | ▲ +4.20% | ▲ +7.91% | $81.08 (−1.21%) |
Jul 15, 2026 14w ago | Press Release | $80.11 $76.75 | ▲ +4.20% | ▲ +7.91% | $81.08 (−1.21%) |
Jun 18, 2026 18w ago | Press Release | $74.82 $80.52 | ▲ +7.62% | ▲ +5.87% | $81.08 (+8.37%) |
Jun 12, 2026 19w ago | Institutional Cluster | $75.86 $79.49 | ▲ +4.79% | ▲ +1.52% | $81.08 (+6.88%) |
May 15, 2026 23w ago | 8-K | $67.18 $80.32 | ▲ +19.56% | ▲ +15.04% | $81.08 (+20.69%) |
May 1, 2026 25w ago | 144 | $68.70 $80.71 | ▲ +17.48% | ▲ +15.63% | $81.08 (+18.02%) |
US Market Status
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