GREAT SOUTHERN BANCORP, INC. Segments Disclosure
Note 26: Operating Segments
The Company’s banking operation is its operating segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. The parent holding company does not have any significant operations other than ownership of the Bank, and the parent holding company’s only income is equity in the earnings of the Bank.
Our chief executive officer is our chief operating decision maker. Our chief executive officer reviews actual net income versus budgeted net income, as well as comparison to other comparable financial reporting periods, to assess performance on a monthly basis and to make decisions about allocating capital and personnel.
Financial results by operating segment (all attributed to the banking segment), including significant expense categories provided to the chief operating decision maker, are detailed below at December 31, 2025, 2024 and 2023.
| 2025 | | 2024 | | 2023 | ||||
(In Thousands) | |||||||||
Interest income | $ | 313,732 | $ | 324,698 | $ | 296,835 | |||
Interest expense |
| 113,499 |
| 135,555 |
| 103,620 | |||
Net interest income |
| 200,233 |
| 189,143 |
| 193,215 | |||
Credit loss expense |
| 45 |
| 2,716 |
| (3,079) | |||
Net interest income after credit loss expense |
| 200,188 |
| 186,427 |
| 196,294 | |||
Non-interest Income |
|
| |
| | ||||
Commissions |
| 1,626 |
| 1,227 |
| 1,153 | |||
Overdraft and insufficient funds fees |
| 5,182 |
| 5,140 |
| 7,617 | |||
Point-of-sale and ATM fee income and service charges |
| 13,202 |
| 13,586 |
| 14,346 | |||
Net gain on loan sales |
| 3,272 |
| 3,779 |
| 2,354 | |||
Late charges and fees on loans |
| 1,193 |
| 512 |
| 786 | |||
Fees from debit card contracts |
| 1,615 |
| 1,804 |
| 2,579 | |||
Other income |
| 2,962 |
| 4,517 |
| 1,238 | |||
| 29,052 |
| 30,565 |
| 30,073 | ||||
Non-interest Expense |
| |
| |
| | |||
Salaries and incentives |
| 64,911 |
| 63,954 |
| 63,641 | |||
Employee benefits |
| 15,052 |
| 14,645 |
| 14,880 | |||
Net occupancy expense |
| 13,267 |
| 12,430 |
| 12,357 | |||
Technology, furniture and equipment expense |
| 22,030 |
| 19,688 |
| 18,477 | |||
Postage |
| 3,565 |
| 3,329 |
| 3,590 | |||
Insurance |
| 4,448 |
| 4,622 |
| 4,542 | |||
Advertising |
| 2,929 |
| 3,124 |
| 3,396 | |||
Office supplies and printing |
| 953 |
| 1,008 |
| 1,057 | |||
Telephone |
| 2,797 |
| 2,772 |
| 2,730 | |||
Legal, audit and other professional fees |
| 4,166 |
| 5,399 |
| 7,086 | |||
Expense (income) on other real estate and repossessions |
| (518) |
| (304) |
| 311 | |||
Intangible asset amortization |
| 434 |
| 433 |
| 286 | |||
Travel, meals and entertainment |
| 2,141 |
| 2,066 |
| 2,076 | |||
Other operating expenses |
| 5,768 |
| 8,329 |
| 6,594 | |||
| 141,943 |
| 141,495 |
| 141,023 | ||||
Income Before Income Taxes |
| 87,297 |
| 75,497 |
| 85,344 | |||
Provision for Income Taxes |
| 16,324 |
| 13,690 |
| 17,544 | |||
Net Income | $ | 70,973 | $ | 61,807 | $ | 67,800 | |||
The measure of segment assets is based on total assets as reported on the consolidated statements of financial condition. For the years ended December 31, 2025 and 2024, there were no adjustments or reconciling items between the banking segment total assets and total assets as presented on the consolidated statements of financial condition.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.