Great Western Bancorp (GWB) reported a net income of $11.1 million, or $0.20 per diluted share, for Q4 FY 2020, up from $5.4 million in the previous quarter. However, the net loss for FY 2020 was $680.8 million, or $12.24 per diluted share. Adjusted net income fell to $88.9 million from $167.4 million in FY 2019. The bank's net interest income declined slightly to $107.5 million. Total loans were $10.08 billion, and total deposits reached $11.01 billion. Capital ratios improved, remaining above regulatory limits. A dividend of $0.01 per share was declared for November 27, 2020.
Great Western Bancorp, Inc. (GWB) has declared a quarterly cash dividend of $0.01 per common share, scheduled for payment on November 27, 2020. Stockholders of record as of the close of business on November 12, 2020 will receive this dividend. The continuation of future dividends will be contingent upon Board approval. Great Western Bancorp operates as a regional bank, providing financial services across nine states, emphasizing relationship-based and agribusiness banking.
Great Western Bank has launched the "Great Gifts of Gratitude" program, awarding $70,000 to 140 community members for their exceptional contributions during the pandemic. The initiative received over 600 nominations, recognizing individuals like therapists, teachers, and volunteers through tailored gifts, including technology, childcare equipment, and financial support. CEO Mark Borrecco emphasized the bank's commitment to empowering local communities. Great Western Bank operates over 170 branches across nine states, providing various financial services.
Great Western Bancorp, Inc. (NYSE:GWB) will release its fourth quarter and full fiscal year 2020 financial results on October 28, 2020. A conference call will be held at 8:30 AM ET to discuss these results, accessible via phone or online. Interested parties can join by calling (855) 238-8837 or (412) 542-4114 for international callers. A replay of the call will be available from November 11, 2020. Great Western Bancorp, Inc. operates a full-service regional bank offering comprehensive financial products across nine states.