Great Southern Bancorp, Inc. (GSBC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to your speaker today, Jeff Trika, Investor Relations. Please go ahead. Thank you. Good afternoon, and thank you for joining Great Southern Bancorp's first quarter 2025 earnings call. Today we will be discussing the company's results for the quarter ending March 31st, 2025. Before we begin, I'd like to remind everyone that during this call, forward-looking statements may be made regarding the company's future events and financial performance. These statements are subject to various factors that could cause actual results to differ materially from those anticipated or projected. For a list of these factors, please refer to the forward-looking statements disclosures in the first quarter earnings release and other public filings. Joining me today are President and CEO Joe Turner and Chief Financial Officer Rex Copeland. I'll now turn the call over to Joe. Okay, thanks Jeff and good afternoon. I also would like to welcome all of you and thank you for joining us on our call today. Our first quarter results reflect the strength of our core banking franchise and the continued resilience of our earnings in a dynamic operating environment amid ongoing economic and financial sector challenges. We reported net income of $17.2 million or $1.47 per diluted common share up from $13.4 million or $1.13 per share in the same quarter a year ago. The improvement in net income this quarter compared to the year-ago quarter was primarily driven by higher debt interest income reflecting stronger loan and investment yields and lower funding costs. Additionally, we recorded a negative provision for credit losses of $348,000 this quarter compared to a provision of $630,000 in the year-ago quarter. This reflects the continued credit strength across ...