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GREAT SOUTHERN BANCORP, INC. AND SUBSIDIARIES -- CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
INTEREST INCOME        
Loans $ 42,068 $ 42,243 $ 79,966 $ 84,327
Investment securities and other 6,153 6,901 12,932 13,858
TOTAL INTEREST INCOME 48,221 49,144 92,898 98,185
INTEREST EXPENSE        
Deposits 5,786 6,661 11,570 14,147
Federal Home Loan Bank advances 1,132 1,304 2,406 2,601
Short-term borrowings and repurchase agreements 672 747 1,358 1,503
Interest Expense subordinated debentures issued to capital trusts 154 140 315 281
TOTAL INTEREST EXPENSE 7,744 8,852 15,649 18,532
NET INTEREST INCOME 40,477 40,292 77,249 79,653
Provision for loan losses 17,600 8,431 27,677 16,631
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 22,877 31,861 49,572 63,022
NON-INTEREST INCOME        
Commissions 2,331 2,486 4,958 4,923
Service charges and ATM fees 4,881 4,473 9,372 8,535
Non-interest income net realized gains on sales of loans 1,097 702 2,246 1,609
Net realized gains (losses) on sales and impairments of available-for-sale securities 1,251 (400) 1,280 (400)
Late charges and fees on loans 238 162 411 284
Net change in interest rate swap fair value (117)   (20)  
Initial gain recognized on business acquisition 31,312   31,312  
Accretion (amortization) of income related to business acquisitions (4,440) (10,296) (6,188) (20,049)
Other income 1,400 714 3,048 1,168
TOTAL NON-INTEREST INCOME 37,953 (2,159) 46,419 (3,930)
NON-INTEREST EXPENSE        
Salaries and employee benefits 14,700 11,709 28,579 23,281
Net occupancy and equipment expense 5,237 3,639 10,196 7,329
Postage 840 811 1,668 1,566
Insurance 1,107 1,498 2,229 2,945
Advertising 468 408 837 683
Office supplies and printing 355 354 752 632
Telephone 740 513 1,507 1,139
Legal, audit and other professional fees 1,568 723 2,437 1,485
Expense on foreclosed assets 1,228 627 1,668 1,056
Other operating expenses 3,823 1,855 7,002 3,631
TOTAL NON-INTEREST EXPENSE 30,066 22,137 56,875 43,747
INCOME BEFORE INCOME TAXES 30,764 7,565 39,116 15,345
PROVISION FOR INCOME TAXES 9,108 1,675 9,963 3,562
Net income 21,656 5,890 29,153 11,783
Preferred stock dividends and discount accretion 144 782 290 1,628
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 21,512 $ 5,108 $ 28,863 $ 10,155
BASIC EARNINGS PER COMMON SHARE $ 1.59 $ 0.38 $ 2.14 $ 0.75
DILUTED EARNINGS PER COMMON SHARE $ 1.58 $ 0.37 $ 2.12 $ 0.73
DIVIDENDS DECLARED PER COMMON SHARE $ 0.18 $ 0.18 $ 0.36 $ 0.36