Preliminary Q2 2024 Great Southern Bancorp Inc Earnings Call Transcript
Key Points
- Improved earnings in Q2 2024 compared to Q1 2024, with earnings per diluted common share at $1.45.
- Strong capital and liquidity positions, with total stockholders' equity at $568.8 million and available secured funding lines totaling approximately $2 billion.
- Net interest income increased to $46.8 million in Q2 2024 from $44.8 million in Q1 2024.
- Non-interest income increased by $3.1 million to $9.8 million compared to Q2 2023.
- Overall credit quality metrics remained strong, with low levels of delinquencies and non-performing assets to total assets at 34 basis points.
- Earnings per diluted common share decreased from $1.52 in Q2 2023 to $1.45 in Q2 2024.
- Total deposits decreased by $158 million during Q2 2024.
- Net interest margin decreased to 3.43% in Q2 2024 from 3.56% in Q2 2023.
- Non-interest expense increased by $1.7 million to $36.4 million compared to Q2 2023.
- Ongoing compliance matters resulted in $600,000 of additional expenses in Q2 2024.
Hello. Thank you for standing by, and welcome to Great Southern Bancorp Inc., second-quarter 2024 earnings call.(Operator Instructions)
I will now like to turn the call over to Kelly Polonus. You may begin.
Thank you. Good afternoon and thank you for joining us for our second-quarter earnings call. The purpose of this call is to discuss the company's results for the quarter ending June 30, 2024.
Before we begin, I need to remind you that during the course of this call, we may make forward-looking statements about future events and financial performance. These statements are subject to a number of factors that could cause actual results to differ materially from projected results.
For a list of some of these factors, please see the forward-looking statements disclosure in our second quarter earnings release and our other public filings, President and CEO Joe Turner; and Chief Financial Officer Rex Copeland, are on the call with me. I'll now turn the meeting over
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