Great Southern Bancorp reported third-quarter 2026 net income of $14 million, down from $17.8 million a year earlier due to a non-cash hedge accounting adjustment; excluding that item, non-GAAP net income was $16.5 million. Net interest margin rose to 3.75% from 3.72% a year earlier, while loans fell $108.4 million from December 31, 2025, mainly due to elevated early payoffs in commercial real estate and multifamily. The bank bought $400 million of fixed-rate agency mortgage-backed securities and collateralized mortgage obligations to mitigate downside interest rate risk, and it closed nine banking centers and eliminated 66 positions, which it expects to add $2.3–2.7 million to annual pre-tax income starting in the fourth quarter of 2026. Management said the securities purchase may modestly reduce net interest margin in future quarters, and the board authorized a new program to repurchase one million shares.
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