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GREAT SOUTHERN BANCORP, INC. AND SUBSIDIARIES - CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME        
Loans $ 42,243 $ 32,553 $ 84,327 $ 64,747
Investment securities and other 6,901 7,059 13,858 14,619
TOTAL INTEREST INCOME 49,144 39,612 98,185 79,366
INTEREST EXPENSE        
Deposits 6,661 10,140 14,147 20,797
Federal Home Loan Bank advances 1,304 1,407 2,601 2,804
Short-term borrowings and repurchase agreements 747 799 1,503 1,792
Subordinated debentures issued to capital trusts 140 142 281 278
TOTAL INTEREST EXPENSE 8,852 12,488 18,532 25,671
NET INTEREST INCOME 40,292 27,124 79,653 53,695
PROVISION FOR LOAN LOSSES 8,431 12,000 16,631 17,500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 31,861 15,124 63,022 36,195
NON-INTEREST INCOME        
Commissions 2,486 2,344 4,923 4,410
Service charges and ATM fees 4,473 5,061 8,535 9,644
Net realized gains on sales of loans 702 755 1,609 1,548
Net realized gains (losses) on sales and impairments of available-for-sale securities (400) 3,465 (400) 3,465
Late charges and fees on loans 162 237 284 441
Accretion (amortization) of income related to business acquisitions (10,296) 1,665 (20,049) 2,565
Other income 714 612 1,168 1,064
TOTAL NON-INTEREST INCOME (2,159) 14,139 (3,930) 23,137
NON-INTEREST EXPENSE        
Salaries and employee benefits 11,709 11,167 23,281 22,203
Net occupancy and equipment expense 3,639 3,382 7,329 6,871
Postage 811 835 1,566 1,667
Insurance 1,498 1,120 2,945 2,252
Advertising 408 580 683 799
Office supplies and printing 354 360 632 823
Telephone 513 566 1,139 1,108
Legal, audit and other professional fees 723 626 1,485 1,291
Expense on foreclosed assets 627 416 1,056 2,583
Other operating expenses 1,855 1,756 3,631 3,354
TOTAL NON-INTEREST EXPENSE 22,137 20,808 43,747 42,951
INCOME BEFORE INCOME TAXES 7,565 8,455 15,345 16,381
PROVISION FOR INCOME TAXES 1,675 2,631 3,562 5,018
NET INCOME 5,890 5,824 11,783 11,363
PREFERRED STOCK DIVIDENDS AND DISCOUNT ACCRETION 782 848 1,628 1,687
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 5,108 $ 4,976 $ 10,155 $ 9,676
BASIC EARNINGS PER COMMON SHARE $ 0.38 $ 0.37 $ 0.75 $ 0.72
DILUTED EARNINGS PER COMMON SHARE $ 0.37 $ 0.35 $ 0.73 $ 0.69
DIVIDENDS DECLARED PER COMMON SHARE $ 0.18 $ 0.18 $ 0.36 $ 0.36