Great Southern Bancorp, Inc. Posts $1.27 Q3 EPS After Noncash Hedge Charge
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Great Southern Bancorp, Inc. posted preliminary diluted earnings of $1.27 per share in the third quarter, as a noncash hedge-accounting adjustment reduced earnings by about $0.23 per diluted share after taxes. Net income was $14 million for the quarter ended Sept. 30, compared with $17.8 million a year earlier. Net interest income totaled $50.3 million, while noninterest income was $3.4 million. During the third quarter, the company identified historical periods when qualifying variable-rate loan balances were insufficient to support the full designated notional amount of its interest-rate swaps. The resulting hedge-accounting adjustment was about $3.5 million before taxes.
Source: TokenPost
