Great Southern Bancorp announced that the consolidation of nine banking centers and related workforce reductions are expected to generate approximately $4.4 million to $4.8 million in noninterest expense savings beginning in the fourth quarter of 2026. CFO Rex Copeland said the restructuring is also projected to yield about $2.3 million to $2.7 million in annual pretax income improvement. The company reported second-quarter net income of $15.8 million, or $1.43 per diluted share, which included $2.1 million in one-time branch consolidation and severance costs. Excluding those items, noninterest expense was $36.1 million, and the net interest margin stood at 3.76%. CEO Joseph Turner described the operating environment as highly competitive and declined to provide formal guidance, while Copeland characterized the margin outlook as leaning toward stable.
Great Southern Bancorp IncBranch consolidation expected to generate $4.4M-$4.8M in expense savings and $2.3M-$2.7M in annual pretax income improvement starting Q4 2026