Great Southern Bancorp (NASDAQ: GSBC) lifts Q1 2026 earnings with strong credit quality

Rhea-AI Filing Summary

Great Southern Bancorp reported preliminary first-quarter 2026 earnings of $1.58 per diluted share and net income of $17.5 million, slightly higher than $1.47 per share and $17.2 million a year earlier. Results reflect modest profit growth despite lower interest income.

Net interest income slipped 2.0% to $48.3 million, mainly because income from a terminated interest rate swap ended, but the net interest margin improved to 3.71% as funding costs fell. Non-interest income rose to $7.0 million on stronger commissions and loan sale gains, while non-interest expense was essentially flat at $34.8 million.

Asset quality remained strong, with non-performing assets at $10.1 million, or 0.18% of total assets, and virtually no net charge-offs. Loans grew 2.3% since year-end to $4.46 billion, led by construction and commercial real estate, and capital stayed robust with a 10.99% tangible common equity ratio, even after dividends and share repurchases.

Insights

Banking sector analyst

Quarter shows steady profitability, strong credit, and disciplined balance sheet management.

Great Southern Bancorp delivered slightly higher first-quarter 2026 earnings, with net income of $17.5M and EPS of $1.58. The key story is mix: net interest income declined modestly, but net interest margin widened to 3.71% as deposit and borrowing costs reset lower.

Credit quality remains a clear strength. Non-performing assets were only $10.1M, or 0.18% of assets, with negligible net charge-offs and an allowance of 1.43% of loans. Loan growth of about $100M was concentrated in construction and commercial real estate, while management highlighted isolated pressure in some multi-family projects, reinforcing the importance of ongoing monitoring.

Capital and liquidity stayed solid: tangible common equity was 10.99% of tangible assets and total equity $633.6M, even after $16.9M of share repurchases and a $0.43 dividend. Available secured borrowing capacity over $1.5B plus cash and unpledged securities support funding flexibility. Overall, the update portrays a conservatively run regional bank navigating a lower-rate environment while preserving credit strength and capital.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Diluted EPS: $1.58 Net income: $17.5M Net interest income: $48.3M +5 more

8 metrics

Diluted EPS $1.58 Three months ended March 31, 2026; up from $1.47 in Q1 2025

Net income $17.5M Three months ended March 31, 2026; compared to $17.2M in Q1 2025

Net interest income $48.3M Q1 2026; down from $49.3M in Q1 2025

Net interest margin 3.71% Q1 2026; improved from 3.57% in Q1 2025

Total net loans $4.46B Net loans excluding held-for-sale at March 31, 2026; up 2.3% from year-end 2025

Total deposits $4.45B Deposits at March 31, 2026; slightly below December 31, 2025

Non-performing assets $10.1M (0.18% of assets) Non-performing assets and ratio at March 31, 2026

Tangible common equity ratio 10.99% Tangible common equity to tangible assets at March 31, 2026

Key Terms

net interest margin, non-performing assets, tangible common equity, brokered deposits, +1 more

5 terms

net interest margin financial

"Annualized net interest margin was 3.71% for the quarter ended March 31, 2026, compared to 3.57% for the quarter ended March 31, 2025."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

non-performing assets financial

"At March 31, 2026, non-performing assets were $10.1 million (0.18% of total assets), an increase of $2.0 million from $8.1 million (0.15% of total assets)."

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

tangible common equity financial

"Tangible common equity was 10.99% of tangible assets, and book value per common share increased to $58.27."

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

brokered deposits financial

"Brokered deposits, obtained through a variety of sources, decreased $11.5 million (1.7%)."

Brokered deposits are large sums of customer cash placed at a bank through a third-party intermediary that shops around for the best interest rate, like a broker assembling a big bucket of savings and directing it to a bank. They matter to investors because they can quickly change a bank’s funding level and cost — providing fast liquidity but also adding volatility and regulatory scrutiny that can affect a bank’s stability and profitability.

allowance for credit losses financial

"The Bank’s allowance for credit losses as a percentage of total loans was 1.43% and 1.46% at March 31, 2026 and December 31, 2025, respectively."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

Earnings Snapshot

Net income: $17.5M

Q1 2026

Net income $17.5M +1.8% YoY

Diluted EPS $1.58 +7.5% YoY

Net interest income $48.3M -2.0% YoY

Net interest margin 3.71% +14 bps YoY

Return on average assets 1.24% up from 1.15% in Q1 2025

Return on average common equity 10.85% down from 11.30% in Q1 2025

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 15, 2026

_______________________________

GREAT SOUTHERN BANCORP, INC.

(Exact name of registrant as specified in its charter)

_______________________________

Maryland	0-18082	43-1524856
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1451 East Battlefield

Springfield, Missouri 65804

(Address of Principal Executive Offices) (Zip Code)

(417) 887-4400

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	GSBC	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 15, 2026, Great Southern Bancorp, Inc. issued a press release reporting preliminary financial results for the quarter ended March 31, 2026. A copy of the press release, including unaudited financial information released as a part thereof, is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated April 15, 2026
99.2		Earnings Presentation
99.3		Loan Portfolio
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GREAT SOUTHERN BANCORP, INC.
Date: April 15, 2026	By:	/s/ Joseph W. Turner
		Joseph W. Turner
		President and Chief Executive Officer

EXHIBIT 99.1

Great Southern Bancorp, Inc. Reports Preliminary First Quarter Earnings of $1.58 Per Diluted Common Share

Preliminary Financial Results and Business Update for the Quarter Ended March 31, 2026

SPRINGFIELD, Mo., April 15, 2026 (GLOBE NEWSWIRE) -- Great Southern Bancorp, Inc. (the “Company”) (NASDAQ:GSBC), the holding company for Great Southern Bank (the “Bank”), today reported that preliminary earnings for the three months ended March 31, 2026, were $1.58 per diluted common share ($17.5 million net income) compared to $1.47 per diluted common share ($17.2 million net income) for the three months ended March 31, 2025.

For the quarter ended March 31, 2026, annualized return on average common equity was 10.85%, annualized return on average assets was 1.24%, and annualized net interest margin was 3.71%, compared to 11.30%, 1.15% and 3.57%, respectively, for the quarter ended March 31, 2025.

Key Results:

• Net Interest Income: Net interest income for the first quarter of 2026 decreased $1.0 million (or approximately 2.0%) to $48.3 million compared to $49.3 million for the first quarter of 2025, largely driven by the completion of accounting recognition in October 2025 of interest income from a previously terminated interest rate swap. This was partially offset by lower interest expense on deposit accounts and other borrowings. Annualized net interest margin was 3.71% for the quarter ended March 31, 2026, compared to 3.57% for the quarter ended March 31, 2025, and 3.70% for the quarter ended December 31, 2025.
  
• Asset Quality: Non-performing assets and potential problem loans totaled $11.3 million at March 31, 2026, an increase of $1.8 million from $9.5 million at December 31, 2025. At March 31, 2026, non-performing assets were $10.1 million (0.18% of total assets), an increase of $2.0 million from $8.1 million (0.15% of total assets) at December 31, 2025. See “Asset Quality” below.
  
• Liquidity: The Company had secured borrowing line availability at the FHLBank and Federal Reserve Bank of $1.24 billion and $332.1 million, respectively, at March 31, 2026.
  
• Capital: The Company’s capital position remained strong as of March 31, 2026, significantly exceeding the “well-capitalized” thresholds established by regulatory agencies. See “Capital” below.
  
• Loans: Total net loans, excluding mortgage loans held for sale, increased $99.8 million, or 2.3%, from $4.36 billion at December 31, 2025 to $4.46 billion at March 31, 2026. This increase was primarily driven by increases in construction loans and commercial real estate loans, partially offset by decreases in other residential (multi-family) loans. The Bank experienced a decreased amount of loan payoffs in the 2026 first quarter compared to recent quarters.
  

Certain Income and Expense Items Impacting First Quarter 2026 Results: During the three months ended March 31, 2026, there were certain income and expense items that impacted the Company’s results of operations in a positive manner.  

1

• Interest income on loans increased $483,000 due to collection of unbooked interest on three different relationships. Two of these relationships have recently provided interest payments generally semi-annually, but we do not have assurances of future payments or amounts if payments are made.
  
• Other non-interest income increased $421,000 due to fees received on the origination of a loan with an interest rate swap included in the transaction and an unrelated payment received upon the Company’s exit from a tax credit limited partnership. These types of fees and payments occur sporadically as part of our operations.
  
• Advertising expense decreased $453,000 due to an annual reimbursement of qualifying expenses related to our debit card program. This reimbursement generally occurs in the first quarter of each year and the amount varies based upon the level of qualifying expenses. For comparison, an annual reimbursement of $433,000 was received in the 2025 first quarter.
  
• Legal and professional fees decreased $261,000 due to an insurance reimbursement of legal fees that had been expensed in prior periods related to a loan foreclosure.
  

Selected Financial Data:

	Three Months Ended
		March 31,				March 31,			December 31,
		2026				2025				2025
		(Dollars in thousands, except per share data)
Net interest income	$	48,328			$	49,334			$	49,163
Provision (credit) for credit losses on loans and unfunded commitments		(931	)			(348	)			882
Non-interest income		7,029				6,590				7,188
Non-interest expense		34,792				34,822				36,000
Provision for income taxes		4,020				4,290				3,194
Net income	$	17,476			$	17,160			$	16,275
Earnings per diluted common share	$	1.58			$	1.47			$	1.45

Joseph W. Turner, President and CEO of Great Southern, commented, “Our first-quarter 2026 results reflect a solid start to the year, driven by disciplined execution across the business. Throughout the quarter, we remained committed to the fundamentals that have supported our performance over time, including careful balance sheet management, sound credit and expense discipline, and thoughtful capital allocation. We reported net income of $17.5 million, or $1.58 per diluted common share, compared to $17.2 million, or $1.47 per diluted common share, in the first quarter of 2025.”

Turner noted, “Underlying performance remained strong in the quarter. We did have a few income and expense items, which we separately noted above, that impacted the Company’s results in a positive manner. Net interest income was $48.3 million, reflecting a continued focus on both asset pricing and funding costs, alongside the successful management of our earning asset base. This diligence partially mitigated the absence of income from a previously terminated interest rate swap, which contributed $2.0 million of net interest income in the first quarter of 2025. Though we continue to focus on net interest income growth, credit and pricing discipline may serve as governors given our prioritization of long-term stockholder returns over near-term earnings.”

Turner added, “Loan balances increased during the quarter, supported primarily by growth in construction and commercial real estate lending, as payoff activity moderated from higher levels in recent quarters. While this balance sheet growth supported earnings in the quarter, period-to-period loan trends are influenced significantly by loan repayments from our borrowers. As such, we remain committed to measured loan origination with disciplined underwriting throughout the quarter. On the funding side, deposit balances remained stable in the first quarter of 2026, particularly within our non-maturity deposit products. Reflecting loan growth and the maturity of certain retail time deposits, wholesale funding increased as part of our broader liquidity management strategy.

2

Turner stated, “From a credit standpoint, we remain mindful of the volatility and macroeconomic challenges affecting our borrowers. We have seen isolated examples of multi-family projects where actual lease-up activities have been slower than initial projections, and we monitor these projects closely. While asset quality metrics in the first quarter of 2026 remained very strong, with low levels of delinquencies, few non-performing assets and virtually no net charge-offs, we continue to review both anecdotal and empirical information underscoring the importance of ongoing credit monitoring and oversight.”

Turner further commented, “Operating discipline also remained an important contributor to quarterly performance. Non-interest expense totaled $34.8 million, as we continued to manage costs carefully while also investing in technology, infrastructure, and personnel to support the long-term capabilities of the franchise. Our overall expense levels in the first quarter of 2026 also benefited from certain reimbursements, which we noted. We expect that non-interest expense will increase a bit in the remainder of 2026 as we implement various technology initiatives and advancements. Non-interest income was $7.0 million, supported by recurring fee-based revenue streams and customer activity across the Bank.”

Turner continued, “Our capital and liquidity positions remained strong at quarter-end. Tangible common equity was 10.99% of tangible assets, and book value per common share increased to $58.27. Regulatory capital levels significantly exceed “well-capitalized” thresholds. We continued to return capital through the repurchase of approximately 269,000 shares of common stock during the first quarter.”

“We believe Great Southern entered 2026 in a position of strength, and our priorities remain consistent: maintain strong credit quality, manage funding and expenses carefully, and continue building long-term value for our stockholders through disciplined execution and sound risk management,” Turner concluded.

NET INTEREST INCOME

	Three Months Ended
		March 31,				March 31,			December 31,
		2026				2025			2025
		(Dollars in thousands)
Interest Income	$	71,165			$	80,243			$	73,435
Interest Expense		22,837				30,909				24,272
Net Interest Income	$	48,328			$	49,334			$	49,163
Net interest margin		3.71	%			3.57	%			3.70	%
Average interest-earning assets to average interest-bearing liabilities		128.8	%			125.5	%			129.5	%

Net interest income for the first quarter of 2026 decreased $1.0 million (2.0%) to $48.3 million, compared to $49.3 million for the first quarter of 2025. This decrease was driven primarily by the $2.0 million net reduction in quarterly interest income associated with a previously terminated interest rate swap (income ended on October 6, 2025). Additionally, compared to the year-ago quarter, interest income declined due to lower loan balances and lower market rates, which primarily impacted the interest rates on variable-rate loans and new originations of fixed-rate loans. Mostly offsetting the decrease in interest income was reduced interest expense, due to the strategic management of maturing/repricing brokered deposits and interest-bearing demand deposits. Also, there was no interest expense on subordinated notes in the quarter ended March 31, 2026, as those notes were redeemed in June 2025. Correspondingly, annualized net interest margin was 3.71% in the first quarter of 2026, compared to 3.57% in the same period of 2025 and 3.70% in the fourth quarter of 2025. The average interest rate spread was 3.20% for the three months ended March 31, 2026, compared to 3.00% for the three months ended March 31, 2025 and 3.16% for the three months ended December 31, 2025.

The average yield on total interest-earning assets decreased from 5.81% in the 2025 first quarter to 5.46% in the 2026 first quarter, with the average yield on loans decreasing 37 basis points, the average yield on investment securities decreasing 12 basis points and the average yield on other interest earning assets (primarily funds held at the Federal Reserve Bank) decreasing 73 basis points. The average rate paid on total interest-bearing liabilities decreased from 2.81% in the 2025 first quarter to 2.26% in the 2026 first quarter, with the average rate paid on interest-bearing demand and savings deposits, time deposits and brokered deposits decreasing 21 basis points, 52 basis points and 70 basis points, respectively. The average rate paid on short-term borrowings decreased 67 basis points.

3

Market interest rates, primarily the federal funds rate and SOFR rates, declined in the fourth quarter of 2025, and remained lower through the first quarter of 2026. There were no federal funds rate cuts in the first quarter of 2026, but there were federal funds rate cuts in September, October, and December of 2025, totaling 75 basis points. This market rate decline reduced the average yield on loans, though the impact was tempered as cash flows from lower-rate fixed rate loans originated a few years ago were deployed into residential and commercial real estate loans with comparably higher rates of interest. The decline in market interest rates also resulted in lower average rates paid on deposits and borrowings, compared to the prior-year first quarter and the fourth quarter of 2025.

To mitigate exposure to the risk of fluctuations in future cash flows resulting from changes in interest rates (primarily related to falling interest rates), the Company has strategically utilized derivative financial instruments - primarily interest rate swaps - as part of its interest rate risk management strategy.

The following table presents, for the periods indicated, the effect of cash flow hedge accounting included in interest income in the consolidated statements of income:

	Three Months Ended
		March 31,				March 31,			December 31,
		2026				2025			2025
		(In thousands)
Terminated interest rate swaps	$	—			$	2,003			$	134
Active interest rate swaps		(1,031	)			(1,742	)			(1,364	)
Increase (decrease) to interest income	$	(1,031	)		$	261			$	(1,230	)

The Company entered into an interest rate swap in October 2018, which was terminated in March 2020. Upon termination, the Company received $45.9 million, inclusive of accrued but unpaid interest, from its swap counterparty. The net amount, after deducting accrued interest and deferred income taxes, was accreted to interest income on loans monthly until the originally scheduled termination date of October 6, 2025. With this date having passed, the Company no longer has the benefit of that income from the terminated swap. At March 31, 2026, the Company had two active interest rate swaps with a combined notional amount of $400 million. These swaps resulted in a reduction of interest income of $1.0 million and $1.7 million in the three months ended March 31, 2026 and 2025, respectively.

Market rates for time deposits for much of 2024 were elevated but have declined as the FOMC cut the federal funds rate by 100 basis points in late 2024, 25 basis points in the third quarter of 2025 and 50 basis points in the fourth quarter of 2025. As of March 31, 2026, time deposit maturities (including brokered time deposits) over the next 12 months were as follows: within three months — $647.0 million, with a weighted-average rate of 3.48%; within three to six months — $338.5 million, with a weighted-average rate of 3.04%; and within six to twelve months — $29.2 million, with a weighted-average rate of 1.41%. Based on time deposit market rates in March 2026, replacement rates for maturing time deposits originated through our retail branch system are likely to be approximately 2.70-3.10%, depending on term. Brokered time deposit rates were generally at or above 3.75% in March 2026.

NON-INTEREST INCOME

For the quarter ended March 31, 2026, non-interest income increased $439,000, to $7.0 million, when compared to the quarter ended March 31, 2025, primarily as a result of the following item:

• Commissions: Commissions income increased $353,000, or 134.7%, from the prior-year quarter. The increase was due to annuity sales that were approximately 160% higher in the 2026 period compared to the 2025 period.
  

4

NON-INTEREST EXPENSE

For the quarter ended March 31, 2026, non-interest expense decreased $30,000, to $34.8 million, when compared to the quarter ended March 31, 2025, primarily as a result of the following items:

• Legal, audit and other professional fees: Legal, audit and other professional fees decreased $348,000 from the prior-year quarter, to $690,000. In the quarter ended March 31, 2026, the Company recovered a total of $261,000 in legal fees, pursuant to an insurance reimbursement, related to a multi-family residential loan that had previously been expensed with no such expense recoveries in the quarter ended March 31, 2025.
  
• Net occupancy and equipment expenses: Net occupancy and equipment expenses increased $331,000, or 3.9%, from the prior-year quarter. Various components of computer license and support expenses, related to upgrades of core systems capabilities and disaster recovery site, collectively increased by $339,000 in the first quarter of 2026 compared to the first quarter of 2025.
  

The Company’s efficiency ratio for the quarter ended March 31, 2026, was 62.85% compared to 62.27% for the same quarter in 2025. The Company’s ratio of non-interest expense to average assets was 2.47% for the three months ended March 31, 2026, compared to 2.34% for the three months ended March 31, 2025. Average assets for the three months ended March 31, 2026, decreased $332.9 million, or 5.6%, compared to the three months ended March 31, 2025, primarily due to the decline in the average balance of net loans.

INCOME TAXES

For the three months ended March 31, 2026 and 2025, the Company's effective tax rate was 18.7% and 20.0%, respectively. These effective rates were below the statutory federal tax rate of 21.0%, due primarily to the utilization of certain investment tax credits and the Company’s tax-exempt investments and tax-exempt loans, which reduced the Company’s effective tax rate. The Company’s effective tax rate may fluctuate in future periods as it is impacted by the level and timing of the Company’s utilization of tax credits, the level of tax-exempt investments and loans, the amount of taxable income in various state jurisdictions and the overall level of pre-tax income. State tax expense estimates continually evolve as taxable income and apportionment between states are analyzed. The Company currently expects its effective tax rate (combined federal and state) will be approximately 18.5% to 19.5% in future periods.

CAPITAL

		March 31,			December 31,
		2026			2025
Consolidated Regulatory Capital Ratios		(Preliminary)
Tier 1 Leverage Ratio		12.2	%		12.2	%
Common Equity Tier 1 Capital Ratio		13.5	%		13.6	%
Tier 1 Capital Ratio		14.0	%		14.1	%
Total Capital Ratio		15.2	%		15.3	%
Tangible Common Equity Ratio		11.0	%		11.2	%

As of March 31, 2026, total stockholders’ equity was $633.6 million, representing 11.1% of total assets and a book value of $58.27 per common share. This compares to total stockholders’ equity of $636.1 million, or 11.4% of total assets, and a book value of $57.50 per common share at December 31, 2025. The $2.5 million decrease in stockholders’ equity from December 31, 2025, was primarily driven by $4.7 million in cash dividends declared on the Company’s common stock, $16.9 million in common stock repurchases, and an increase in unrealized losses on investments and interest rate swaps, partially offset by $17.5 million in net income and a $4.6 million increase from stock option exercises. The increased unrealized losses on the Company’s available-for-sale investment securities and interest rate swaps, which totaled $35.1 million and $32.2 million (net of taxes) at March 31, 2026 and December 31, 2025, respectively, decreased stockholders’ equity by $2.9 million during the first quarter of 2026. These net unrealized losses primarily resulted from increased intermediate-term market interest rates in prior periods, which generally decreased the fair value of the investment securities and interest rate swaps. In 2026, these market interest rates and interest rate expectations for future periods decreased early in the first quarter before increasing significantly in March to levels higher than those at December 31, 2025, ultimately resulting in decreases in the fair value of the Company’s investment securities and interest rate swaps.

5

The Company had unrealized losses on its portfolio of held-to-maturity investment securities, which totaled $17.1 million and $16.6 million at March 31, 2026 and December 31, 2025, respectively, that were not included in its total capital balance. If held-to-maturity unrealized losses were included in capital (net of taxes) at March 31, 2026 and December 31, 2025, they would have decreased total stockholder’s equity at those dates by $12.9 million and $12.5 million, respectively. These amounts were equal to 2.0% of total stockholders’ equity of $633.6 million at March 31, 2026 and $636.1 million at December 31, 2025.

In April 2025, the Company’s Board of Directors authorized the purchase, from time to time, of up to one million additional shares of the Company’s common stock. As of March 31, 2026, approximately 419,000 shares remained available under this stock repurchase authorization.

During the three months ended March 31, 2026, the Company repurchased 268,664 shares of its common stock at an average price of $62.55, and the Company’s Board of Directors declared a regular quarterly cash dividend of $0.43 per common share, which, combined, reduced stockholders’ equity by $21.6 million. During the three months ended March 31, 2026, the Company experienced stock option exercises of 80,259 shares of its common stock at an average price of $50.90, which increased stockholders’ equity by $4.1 million.

LIQUIDITY AND DEPOSITS

Liquidity is a measure of the Company’s ability to generate sufficient cash to meet present and future financial obligations in a timely manner. The Company’s primary sources of funds are customer deposits, FHLBank advances, other borrowings, loan repayments, unpledged securities, proceeds from sales of loans and available-for-sale securities and funds provided from operations. The Company utilizes some or all of these sources of funds depending on the comparative costs and availability at the time. The Company has from time to time chosen not to pay rates on deposits as high as the rates paid by certain of its competitors and, at management’s discretion, supplements deposits with alternative sources of funds. Management believes that the Company maintains overall liquidity sufficient to satisfy its depositors’ requirements and meet its borrowers’ credit needs.

At March 31, 2026, the Company had the following available secured lines and on-balance sheet liquidity:

		March 31, 2026
Federal Home Loan Bank line			$1,238.0 million
Federal Reserve Bank line			332.1 million
Cash and cash equivalents			187.4 million
Unpledged securities – Available-for-sale			347.1 million
Unpledged securities – Held-to-maturity			23.9 million

During the three months ended March 31, 2026, the Company’s total deposits decreased $37.6 million. Interest-bearing checking balances decreased $25.0 million (1.1%), primarily in certain money market accounts, and non-interest-bearing checking balances increased $15.8 million (1.9%). Time deposits generated through the Company’s banking center and corporate services networks decreased $17.0 million (2.5%). Brokered deposits, obtained through a variety of sources, decreased $11.5 million (1.7%). As total assets (primarily loans receivable) increased, the Company elected to utilize FHLBank borrowings to replace some of its maturing time and brokered deposits.

At March 31, 2026, the Company had the following deposit balances:

		March 31, 2026
Interest-bearing checking			$2,264.4 million
Non-interest-bearing checking			857.4 million
Time deposits			671.4 million
Brokered deposits			652.0 million

At March 31, 2026, the Company estimated that its uninsured deposits, excluding deposit accounts of the Company’s consolidated subsidiaries, were approximately $740.1 million (16.7% of total deposits).

6

LOANS

Total net loans, excluding mortgage loans held for sale, increased $99.8 million, or 2.3%, from $4.36 billion at December 31, 2025 to $4.46 billion at March 31, 2026. This increase was primarily driven by increases in construction loans of $83.0 million and commercial real estate loans of $27.0 million, partially offset by a decrease in other residential (multi-family) loans of $18.1 million. Commercial construction loans, including multi-family construction loans, increased primarily due to draws on loans previously closed. Loan repayments in the first quarter of 2026 also decreased approximately $125 million compared to the quarterly average of repayments in 2025.

The pipeline of the unfunded portion of loans and formal loan commitments remained strong, with the largest portion of these unfunded balances represented by the unfunded portion of outstanding construction loans ($529.2 million at March 31, 2026). See the table below.

For additional details about the Company’s loan portfolio, please refer to the quarterly loan portfolio presentation available on the Company’s Investor Relations website under “Presentations.”

Loan commitments and the unfunded portion of loans at the dates indicated were as follows (in thousands):

		March 31, 2026		December 31, 2025		December 31, 2024		December 31, 2023
Closed non-construction loans with unused available lines
Secured by real estate (one- to four-family)	$	214,107	$	208,229	$	205,599	$	203,964
Secured by real estate (not one- to four-family)		—		—		—		—
Not secured by real estate – commercial business		106,024		114,568		106,621		82,435
Closed construction loans with unused available lines
Secured by real estate (one-to four-family)		119,231		112,684		94,501		101,545
Secured by real estate (not one-to four-family)		530,756		624,025		703,947		719,039
Loan commitments not closed
Secured by real estate (one-to four-family)		19,194		14,113		14,373		12,347
Secured by real estate (not one-to four-family)		24,053		19,412		53,660		48,153
Not secured by real estate – commercial business		35,762		38,262		22,884		11,763
	$	1,049,127	$	1,131,293	$	1,201,585	$	1,179,246

PROVISION FOR CREDIT LOSSES AND ALLOWANCE FOR CREDIT LOSSES

During the three months ended March 31, 2026 and 2025, the Company did not record a provision expense on its portfolio of outstanding loans. Total net recoveries were $13,000 for the three months ended March 31, 2026, compared to total net charge-offs of $56,000 during the same period in the prior year. Additionally, for the quarter ended March 31, 2026, the Company recorded a negative provision for losses on unfunded commitments of $931,000, compared to a negative provision for losses on unfunded commitments of $348,000 for the same period in 2025.

The Bank’s allowance for credit losses as a percentage of total loans was 1.43% and 1.46% at March 31, 2026 and December 31, 2025, respectively. Management considers the allowance for credit losses adequate to cover losses inherent in the Bank’s loan portfolio at March 31, 2026, based on recent reviews of the portfolio and current economic conditions. However, if challenging economic conditions persist or worsen, or if management’s assessment of the loan portfolio changes, additional provisions for credit losses may be required, which could adversely impact the Company’s future financial performance.

7

ASSET QUALITY

At March 31, 2026, non-performing assets were $10.1 million, an increase of $2.0 million from $8.1 million at December 31, 2025. Non-performing assets as a percentage of total assets were 0.18% at March 31, 2026, compared to 0.15% at December 31, 2025.

Activity in the non-performing loan categories during the quarter ended March 31, 2026, was as follows:

		Beginning Balance, January 1		Additions to Non- Performing		Removed from Non- Performing		Transfers to Potential Problem Loans		Transfers to Foreclosed Assets and Repossessions			Charge- Offs		Payments			Ending Balance, March 31
		(In thousands)
One- to four-family construction	$	—	$	—	$	—	$	—	$	—		$	—	$	—		$	—
Subdivision construction		—		—		—		—		—			—		—			—
Land development		—		—		—		—		—			—		—			—
Commercial construction		—		—		—		—		—			—		—			—
One- to four-family residential		2,066		109		—		—		(643	)		—		(829	)		703
Other residential (multi-family)		—		2,725		—		—		—			—		—			2,725
Commercial real estate		—		—		—		—		—			—		—			—
Commercial business		—		—		—		—		—			—		—			—
Consumer		28		—		—		—		—			—		(2	)		26
Total non-performing loans	$	2,094	$	2,834	$	—	$	—	$	(643	)	$	—	$	(831	)	$	3,454

• Compared to December 31, 2025, non-performing loans increased $1.4 million.
• The non-performing one- to four-family residential category consisted of five loans at March 31, 2026, one of which was added during the current quarter.
• The largest relationship in the one- to four-family residential category totaled $386,000 at March 31, 2026. This relationship was added to non-performing loans in 2024 and is collateralized by a single-family residential property in southern Iowa.
• The non-performing other residential (multi-family) category consisted of one loan at March 31, 2026, which was added during the current quarter and is collateralized by an apartment in eastern Iowa. Recent scheduled monthly payments have not been made, causing the loan to become delinquent. The guarantor is involved in legal issues, not related to the subject property, that are causing stress on the financial condition of the guarantor. The Company expects that an updated valuation of the asset will be completed soon.

Activity in the potential problem loans categories during the quarter ended March 31, 2026, was as follows:

		Beginning Balance, January 1		Additions to Potential Problem		Removed from Potential Problem			Transfers to Non- Performing			Transfers to Foreclosed Assets and Repossessions		Charge- Offs		Loan Advances (Payments)			Ending Balance, March 31
		(In thousands)
One- to four-family construction	$	—	$	—	$	—		$	—		$	—	$	—	$	—		$	—
Subdivision construction		—		—		—			—			—		—		—			—
Land development		—		—		—			—			—		—		—			—
Commercial construction		—		—		—			—			—		—		—			—
One- to four-family residential		1,179		39		(177	)		(79	)		—		—		(19	)		943
Other residential (multi-family)		—		—		—			—			—		—		—			—
Commercial real estate		—		—		—			—			—		—		—			—
Commercial business		—		14		—			—			—		—		—			14
Consumer		211		140		—			—			—		—		(70	)		281
Total potential problem loans	$	1,390	$	193	$	(177	)	$	(79	)	$	—	$	—	$	(89	)	$	1,238

• Compared to December 31, 2025, potential problem loans decreased $152,000.
• At March 31, 2026, the one- to four-family residential category consisted of 12 loans, two of which were added to potential problem loans during the current quarter.
• The largest relationship in the one- to four-family category totaled $259,000 and was added in the third quarter of 2025. This relationship is collateralized by a single-family residential property in the St. Louis area.
• At March 31, 2026, the consumer category of potential problem loans consisted of 16 loans, four of which were added during the current quarter.

8

Activity in the foreclosed assets and repossessions categories during the quarter ended March 31, 2026 was as follows:

		Beginning Balance, January 1		Additions		ORE and Repossession Sales			Capitalized Costs		ORE and Repossession Write-Downs			Ending Balance, March 31
		(In thousands)
One-to four-family construction	$	—	$	—	$	—		$	—	$	—		$	—
Subdivision construction		—		—		—			—		—			—
Land development		—		—		—			—		—			—
Commercial construction		—		—		—			—		—			—
One- to four-family residential		—		643		—			—		—			643
Other residential (multi-family)		—		—		—			—		—			—
Commercial real estate		6,025		—		(61	)		—		(4	)		5,960
Commercial business		—		—		—			—		—			—
Consumer		11		10		(9	)		—		—			12
Total foreclosed assets and repossessions	$	6,036	$	653	$	(70	)	$	—	$	(4	)	$	6,615

• Compared to December 31, 2025, foreclosed assets increased $579,000.
• The largest asset in the commercial real estate category, totaling $6.0 million, consisted of an office building located in Clayton, Mo. This asset was foreclosed upon in the fourth quarter of 2024.
• At December 31, 2025, the one- to four-family residential category, totaling $643,000, consisted of one relationship that was transferred from non-performing loans in the current quarter. This asset consisted of a condominium in the Sarasota, Fla. area. The borrower was no longer in compliance with their loan agreement and, ultimately, the property was placed into foreclosure.
  

BUSINESS INITIATIVES

The Company maintains its focus on technology initiatives and advancements with its current core provider. These investments in both foundational projects and a heightened customer experience continue to foster an organizational emphasis on innovation and forward progress.

The Company transitioned its banking center located at 4700 Mid Rivers Mall Dr. in Cottleville, Mo., to its second drive-thru Express Center location in the spring of 2026. This is the Company's first Express Center in the St. Louis, Mo., area. In addition to the Cottleville location, the Company operates 17 other locations in the St. Louis metro region.

2026 Annual Meeting of Stockholders

The Company announced that its 2026 Annual Meeting of Stockholders will be held at 10 a.m. Central Time on May 13, 2026, and will be held in a virtual format. Stockholders will be able to attend the Annual Meeting via a live webcast. Holders of record of Great Southern Bancorp, Inc. common stock at the close of business on the record date, March 3, 2026, may vote during the live webcast of the Annual Meeting or by proxy. Please see the Company’s Notice of Annual Meeting and Proxy Statement available on the Company’s website, www.GreatSouthernBank.com (click “About” then “Investor Relations”) for additional information about the virtual meeting.

Earnings Conference Call

The Company will host a conference call on Thursday, April 16, 2026, at 2:00 p.m. Central Time to discuss first quarter 2026 preliminary earnings. The call will be available live or in a recorded version at the Company’s Investor Relations website, http://investors.greatsouthernbank.com. Participants may register for the call at https://register-conf.media-server.com/register/BIc5cb39e8aed7434a9500e6b80e150ad9.

9

About Great Southern Bancorp, Inc.

Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company operates 87 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol “GSBC.”

www.GreatSouthernBank.com

Forward-Looking Statements

When used in this press release and in other documents filed or furnished by the Company with or to the Securities and Exchange Commission (the “SEC”), in the Company's other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” "will likely result," "are expected to," "will continue," "is anticipated," “believe,” "estimate," "project," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company's merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company's market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company's investment portfolio; (ix) the Company's ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company's business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10-K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10-Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company's financial performance and cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

10

The following tables set forth selected consolidated financial information of the Company at the dates and for the periods indicated. Financial data at all dates other than December 31, 2025, and for all periods other than the year ended December 31, 2025, is unaudited. In the opinion of management, all adjustments, which consist only of normal recurring accrual adjustments, necessary for a fair presentation of the results at and for such unaudited dates and periods have been included. The results of operations and other data for the three months ended March 31, 2026 and 2025, and the three months ended December 31, 2025, are not necessarily indicative of the results of operations which may be expected for any future period.

		March 31,			December 31,
		2026			2025
	(In thousands)
Selected Financial Condition Data:
Total assets	$	5,687,322		$	5,598,606
Loans receivable, gross		4,526,999			4,427,678
Allowance for credit losses		64,784			64,771
Other real estate owned, net		6,615			6,036
Available-for-sale securities, at fair value		513,846			523,831
Held-to-maturity securities, at amortized cost		177,594			179,200
Deposits		4,445,161			4,482,774
Total borrowings		533,632			405,169
Total stockholders’ equity		633,630			636,126
Non-performing assets		10,069			8,130

		Three Months Ended								Three Months Ended
		March 31,								December 31,
		2026				2025				2025
		(In thousands)
Selected Operating Data:
Interest income	$	71,165			$	80,243			$	73,435
Interest expense		22,837				30,909				24,272
Net interest income		48,328				49,334				49,163
Provision (credit) for credit losses on loans and unfunded commitments		(931	)			(348	)			882
Non-interest income		7,029				6,590				7,188
Non-interest expense		34,792				34,822				36,000
Provision for income taxes		4,020				4,290				3,194
Net income	$	17,476			$	17,160			$	16,275

	At or For the Three Months Ended							At or For the Three Months Ended
	March 31,							December 31,
		2026			2025				2025
	(Dollars in thousands, except per share data)
Per Common Share:
Net income (fully diluted)	$	1.58		$	1.47			$	1.45
Book value	$	58.27		$	53.03			$	57.50
Earnings Performance Ratios:
Annualized return on average assets		1.24	%		1.15	%			1.16	%
Annualized return on average common stockholders’ equity		10.85	%		11.30	%			10.16	%
Net interest margin		3.71	%		3.57	%			3.70	%
Average interest rate spread		3.20	%		3.00	%			3.16	%
Efficiency ratio		62.85	%		62.27	%			63.89	%
Non-interest expense to average total assets		2.47	%		2.34	%			2.56	%
Asset Quality Ratios:
Allowance for credit losses to period-end loans		1.43	%		1.36	%			1.46	%
Non-performing assets to period-end assets		0.18	%		0.16	%			0.15	%
Non-performing loans to period-end loans		0.08	%		0.07	%			0.05	%
Annualized net charge-offs to average loans		0.00	%		0.00	%			0.00	%

11

Great Southern Bancorp, Inc. and Subsidiaries Consolidated Statements of Financial Condition (In thousands, except number of shares)
		March 31, 2026			December 31, 2025
Assets
Cash	$	101,405		$	109,833
Interest-bearing deposits in other financial institutions		85,999			79,721
Cash and cash equivalents		187,404			189,554
Available-for-sale securities		513,846			523,831
Held-to-maturity securities		177,594			179,200
Mortgage loans held for sale		6,823			6,838
Loans receivable, net of allowance for credit losses of $64,784 – March 2026; $64,771 – December 2025		4,456,639			4,356,853
Interest receivable		19,716			18,068
Prepaid expenses and other assets		124,023			128,615
Other real estate owned and repossessions, net		6,615			6,036
Premises and equipment, net		132,113			133,257
Goodwill and other intangible assets		9,552			9,660
Federal Home Loan Bank stock and other interest-earning assets		27,720			20,079
Current and deferred income taxes		25,277			26,615
Total Assets	$	5,687,322		$	5,598,606
Liabilities and Stockholders’ Equity
Liabilities
Deposits	$	4,445,161		$	4,482,774
Securities sold under reverse repurchase agreements with customers		37,198			48,467
Short-term borrowings		470,660			330,928
Subordinated debentures issued to capital trust		25,774			25,774
Accrued interest payable		3,250			3,612
Advances from borrowers for taxes and insurance		9,021			5,781
Accounts payable and accrued expenses		55,011			56,596
Liability for unfunded commitments		7,617			8,548
Total Liabilities		5,053,692			4,962,480
Stockholders’ Equity
Capital stock
Preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding March 2026 and December 2025 -0- shares		—			—
Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding March 2026 – 10,873,847 shares; December 2025 – 11,062,252 shares		83			111
Additional paid-in capital		56,126			54,120
Retained earnings		612,570			614,095
Accumulated other comprehensive loss		(35,149	)		(32,200	)
Total Stockholders’ Equity		633,630			636,126
Total Liabilities and Stockholders’ Equity	$	5,687,322		$	5,598,606

12

Great Southern Bancorp, Inc. and Subsidiaries Consolidated Statements of Income (In thousands, except per share data)
		Three Months Ended								Three Months Ended
		March 31,								December 31,
		2026				2025				2025
Interest Income
Loans	$	64,660			$	73,071			$	66,531
Investment securities and other		6,505				7,172				6,904
		71,165				80,243				73,435
Interest Expense
Deposits		18,337				24,600				21,185
Securities sold under reverse repurchase agreements		96				371				120
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities		4,062				4,450				2,598
Subordinated debentures issued to capital trust		342				382				369
Subordinated notes		—				1,106				—
		22,837				30,909				24,272
Net Interest Income		48,328				49,334				49,163
Provision for Credit Losses on Loans		—				—				—
Provision (Credit) for Unfunded Commitments		(931	)			(348	)			882
Net Interest Income After Provision for Credit Losses and Provision (Credit) for Unfunded Commitments		49,259				49,682				48,281
Non-interest Income
Commissions		615				262				387
Overdraft and Insufficient funds fees		1,231				1,215				1,334
POS and ATM fee income and service charges		3,101				3,234				3,234
Net gains on loan sales		719				601				862
Late charges and fees on loans		136				243				421
Loss on derivative interest rate products		(2	)			(24	)			(8	)
Other income		1,229				1,059				958
		7,029				6,590				7,188
Non-interest Expense
Salaries and employee benefits		20,071				20,129				19,645
Net occupancy and equipment expense		8,864				8,533				9,456
Postage		925				931				916
Insurance		1,072				1,165				1,078
Advertising		372				290				949
Office supplies and printing		222				266				211
Telephone		685				706				696
Legal, audit and other professional fees		690				1,038				951
Expense (income) on other real estate and repossessions		54				(70	)			(138	)
Acquired intangible asset amortization		108				108				109
Other operating expenses		1,729				1,726				2,127
		34,792				34,822				36,000
Income Before Income Taxes		21,496				21,450				19,469
Provision for Income Taxes		4,020				4,290				3,194
Net Income	$	17,476			$	17,160			$	16,275
Earnings Per Common Share
Basic	$	1.59			$	1.47			$	1.46
Diluted	$	1.58			$	1.47			$	1.45
Dividends Declared Per Common Share	$	0.43			$	0.40			$	0.43

13

Average Balances, Interest Rates and Yields

The following table presents, for the periods indicated, the total dollar amounts of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Average balances of loans receivable include the average balances of nonaccrual loans for each period. Interest income on loans includes interest received on nonaccrual loans on a cash basis. Interest income on loans also includes the amortization of net loan fees, which were deferred in accordance with accounting standards. Net fees included in interest income were $879,000 and $970,000 for the three months ended March 31, 2026 and 2025, respectively. Tax-exempt income was not calculated on a tax equivalent basis. The table does not reflect any effect of income taxes.

	March 31, 2026				Three Months Ended March 31, 2026									Three Months Ended March 31, 2025
					Average					Yield/						Average					Yield/
	Yield/Rate				Balance			Interest		Rate						Balance			Interest		Rate
	(Dollars in thousands)
Interest-earning assets:
Loans receivable:
One- to four-family residential	4.26	%		$	782,410		$	8,385		4.35	%				$	830,615		$	8,568		4.18	%
Other residential	6.23				1,382,505			21,532		6.32						1,546,209			26,450		6.94
Commercial real estate	5.96				1,550,121			22,788		5.96						1,510,432			23,015		6.18
Construction	6.25				404,439			6,367		6.38						490,586			8,652		7.15
Commercial business	5.81				177,823			2,964		6.76						211,791			3,822		7.32
Other loans	6.24				175,801			2,624		6.05						166,424			2,564		6.25
Total loans receivable	5.78				4,473,099			64,660		5.86						4,756,057			73,071		6.23
Investment securities	3.20				722,850			5,732		3.22						738,122			6,074		3.34
Other interest-earning assets	3.64				89,479			773		3.50						105,286			1,098		4.23
Total interest-earning assets	5.41				5,285,428			71,165		5.46						5,599,465			80,243		5.81
Non-interest-earning assets:
Cash and cash equivalents					97,691											100,558
Other non-earning assets					246,474											262,490
Total assets				$	5,629,593										$	5,962,513
Interest-bearing liabilities:
Interest-bearing demand and savings	1.20			$	2,250,959			6,731		1.21					$	2,221,475			7,797		1.42
Time deposits	2.97				687,208			5,094		3.01						772,054			6,714		3.53
Brokered deposits	3.80				681,017			6,512		3.88						892,611			10,089		4.58
Total deposits	2.00				3,619,184			18,337		2.05						3,886,140			24,600		2.57
Securities sold under reverse repurchase agreements	1.31				38,162			96		1.02						82,400			371		1.83
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities	3.91				419,154			4,062		3.93						392,646			4,450		4.60
Subordinated debentures issued to capital trust	5.53				25,774			342		5.38						25,774			382		6.01
Subordinated notes	—				—			—		—						74,919			1,106		5.99
Total interest-bearing liabilities	2.23				4,102,274			22,837		2.26						4,461,879			30,909		2.81
Non-interest-bearing liabilities:
Demand deposits					835,093											821,759
Other liabilities					48,072											71,360
Total liabilities					4,985,439											5,354,998
Stockholders’ equity					644,154											607,515
Total liabilities and stockholders’ equity				$	5,629,593										$	5,962,513
Net interest income:							$	48,328										$	49,334
Interest rate spread	3.18	%								3.20	%										3.00	%
Net interest margin*										3.71	%										3.57	%
Average interest-earning assets to  average interest-bearing liabilities					128.8	%										125.5	%
*Defined as the Company’s net interest income divided by average total interest-earning assets.

14

NON-GAAP FINANCIAL MEASURES

This document contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”), specifically, the ratio of tangible common equity to tangible assets.

In calculating the ratio of tangible common equity to tangible assets, we subtract period-end intangible assets from common equity and from total assets. Management believes that the presentation of this measure excluding the impact of intangible assets provides useful supplemental information that is helpful in understanding our financial condition and results of operations, as it provides a method to assess management’s success in utilizing our tangible capital as well as our capital strength. Management also believes that providing a measure that excludes balances of intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers. In addition, management believes that this is a standard financial measure used in the banking industry to evaluate performance.

This non-GAAP financial measurement is supplemental and is not a substitute for any analysis based on GAAP financial measures. Because not all companies use the same calculation of non-GAAP measures, this presentation may not be comparable to other similarly titled measures as calculated by other companies.

Non-GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets

		March 31,				December 31,
		2026				2025
		(Dollars in thousands)
Common equity at period end	$	633,630			$	636,126
Less: Intangible assets at period end		9,552				9,660
Tangible common equity at period end (a)	$	624,078			$	626,466
Total assets at period end	$	5,687,322			$	5,598,606
Less: Intangible assets at period end		9,552				9,660
Tangible assets at period end (b)	$	5,677,770			$	5,588,946
Tangible common equity to tangible assets (a) / (b)		10.99	%			11.21	%

CONTACT:

Kincade Ayers
Investor Relations,
(616) 233-0500
GSBC@lambert.com

15

Exhibit 99.2

Earnings Presentation April 2026 Great Southern Bancorp. Inc (NASDAQ: GSBC) First Quarter Ended March 31, 2026

Forward - Looking Statements When used in this presentation and in other documents filed or furnished by the Company with or to the Securities and Exchange Commission (the “SEC”), in the Company's other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” "will likely result," "are expected to," "will continue," "is anticipated," “believe,” "estimate," "project," "intends" or similar expressions are intended to identify "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward - looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward - looking statements. Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company's merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company's market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write - offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company's investment portfolio; (ix) the Company's ability to access cost - effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber - attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company's business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and Great Southern Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write - down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10 - K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10 - Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company's financial performance and cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake - and specifically declines any obligation - to publicly release the result of any revisions which may be made to any forward - looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Great Southern Bancorp. Inc | 2

Executive Management Team Joseph W. Turner joined Great Southern in 1991 and became an officer of Bancorp in 1995. He was appointed to the Board of Directors of Bancorp and Great Southern in 1997 and has served as President and Chief Executive Officer since 2000. In this role, he has led the company’s strategic vision, financial growth, and operational execution, positioning Great Southern as a strong and competitive institution. Before joining Great Southern, Mr. Turner practiced law with Stinson LLP in Kansas City, Missouri, where he specialized in financial and corporate matters. His deep understanding of regulatory compliance, risk management, and corporate governance has been instrumental in guiding the bank’s financial strategy. Mr. Turner is the son of William V. Turner, Chairman of the Board, and the brother of Julie Turner Brown, a fellow director. He also serves on the board of CoxHealth, contributing expertise in financial oversight. His decades of leadership have driven Great Southern’s success, ensuring stability, disciplined management, and long - term value for shareholders. Joseph W. Turner President & Chief Executive Officer Rex A. Copeland Senior Vice President & Chief Financial Officer Rex A. Copeland has served as Senior Vice President, Chief Financial Officer, and Treasurer of Great Southern Bancorp, Inc. and Great Southern Bank since 2000. He oversees all financial functions of the company, including financial reporting, strategic planning, risk management, and capital allocation. With decades of experience in corporate finance, he has played a pivotal role in shaping financial policies, ensuring regulatory compliance, and optimizing efficiency. Before joining Great Southern, Mr. Copeland held financial leadership positions at Bank One Corporation, where he contributed to internal audit, financial strategy and corporate accounting. He began his career as an auditor with Forvis Mazars, LLP (formerly BKD, LLP), developing a strong foundation in financial reporting, internal controls, and audit procedures. Previously practicing as a Certified Public Accountant, he has expertise in financial management, corporate governance, and regulatory affairs. Mr. Copeland’s leadership has been instrumental in Great Southern’s stability and long - term growth. His financial expertise supports disciplined fiscal management and shareholder value. He remains active in industry organizations, offering insights on financial best practices and corporate strategy. Great Southern Bancorp. Inc | 3

Financial Performance Great Southern Bancorp. Inc (NASDAQ: GSBC) Quarter ended March 31, 2026

Highlights & Developments Great Southern Bancorp. Inc | 5 Earnings Growth: 1Q26 net income increased to $17.5 million ($1.58 per diluted share) from $17.2 million ($1.47 per diluted share) in 1Q25, driven by improved non - interest income, prudent non - interest expense management, and a lower provision for unfunded commitments. Net Interest Income & Margin: Net interest income decreased by $1.0 million, or approximately 2.0% year - over - year, to $48.3 million, with an annualized net interest margin of 3.71%, up from 3.57% in 1Q25. Asset Quality : Non - performing assets were $ 10 . 1 million ( 0 . 18 % of total assets), a $ 2 . 0 million increase from the linked quarter and an increase of $ 0 . 6 million from March 31 , 2025 . The low level of non - performing assets reflects management’s disciplined underwriting and conservative lending standards . Capital Strength: Stockholders' equity decreased by $2.5 million to $633.6 million, compared to December 31, 2025. The tangible common equity to tangible common assets ratio was 11.0% at March 31, 2026. Loan Portfolio Trends: Total net loans, excluding mortgage loans held for sale, increased $99.8 million, or 2.3%, to $4.46 billion from $4.36 billion at December 31, 2025, primarily due to increases in construction loans and commercial real estate loans, partially offset by decreases in other residential (multi - family) loans. 1Q25 4Q25 1Q26 ($000S EXCEPT PER SHARE DATA) INCOME STATEMENT $49,334 $49,163 $48,328 Net Interest Income $17,160 $16,275 $17,476 Net Income $1.47 $1.45 $1.58 Earnings per Diluted Common Share 4Q25 1Q26 ($000S) BALANCE SHEET $636,126 $633,630 Total Stockholders’ Equity $4,427,678 $4,526,998 Loans Receivable, Gross $4,482,774 $4,445,161 Total Deposits 1Q25 4Q25 1Q26 ASSET QUALITY RATIOS 1.36% 1.46% 1.43% Allowance for Credit Losses to Period - End Loans 0.16% 0.15% 0.18% Non - Performing Assets to Period - End Assets 0.00% (0.00%) (0.00%) Annualized Net Charge - Offs (recoveries) to Average Loans

$49,334 $49,163 $48,328 3.57% 3.70% 3.71% 1Q25 4Q25 1Q26 Income Statement Net Income Growth: GSBC reported net income of $17.5 million in 1Q26, a 1.8% increase from $17.2 million in 1Q25. Earnings Per Share: Earnings per diluted common share rose to $1.58 in 1Q26 from $1.47 in 1Q25, marking a 7.5% increase. Net Interest Income: There was a 2.0% decrease in net interest income, reaching $48.3 million in 1Q26, compared to $49.3 million in 1Q25. Non - interest Expense Reduction: Total non - interest expense declined to $34.8 million in 1Q26, a reduction of $30,000 from 1Q25. Net Interest Margin: Net interest margin improved by 14 basis points, standing at 3.71% in 1Q26, compared to 3.57% in 1Q25. Net Interest Margin & Net Interest Income Dollars In Thousands Net Interest Margin Net Interest Income Great Southern Bancorp. Inc | 6

$262 $387 $615 $1,215 $1,334 $1,231 $3,234 $3,234 $3,101 $601 $862 $719 $243 $421 $136 $1,059 $958 $1,229 $(24) 1Q25 $(8) 4Q25 $(2) 1Q26 Non - Interest Income Dollars In Thousands Other income Late charges and fees on loans Net gains on loan sales POS and ATM fee income and service charges Overdraft and Insufficient funds fees Commissions Loss on derivative interest rate products Non - Interest Income Great Southern Bancorp. Inc | 7 Total Non - Interest Income: $7.0 million, a 6.7% increase from $6.6 million in 1Q25. POS and ATM fee income and service charges: $3.1 million, down 4.1% from $3.2 million in 1Q25. Overdraft and insufficient funds fees: $1.23 million, a 1.3% increase from $1.21 million in 1Q25. Late charges and fees on loans: $136,000, a 44% decrease compared to $243,000 in 1Q25, driven by reduced payoff volume. Other Non - Interest Income: $1.2 million, a 16.1% increase from $1.1 million in 1Q25. Net gains on loan sales: $719,000, up 19.6% from $601,000 in 1Q25. Loss on derivative interest rate products: Negative $2,000 compared to negative $24,000 in 1Q25.

All Other Non - Interest Expense Non - Interest Expense Total Non - Interest Expense: $34.8 million, a $30,000 decrease from $34.8 million in 1Q25. Net Occupancy and Equipment Expense: Net occupancy expenses increased to $8.9 million, representing a $331,000 year - over - year increase, driven primarily by higher computer license and support expenses associated with upgrades to core system capabilities and the disaster recovery site, which increased by $339,000 in 1Q26 compared to 1Q25. Legal, Audit, and Other Professional Fees : Decreased by $ 348 , 000 to $ 690 , 000 , compared to $ 1 . 0 million in 1 Q 25 . The decrease was primarily due to the recovery of $ 261 , 000 in legal fees related to an insurance reimbursement of legal fees that had been expensed in prior periods related to a loan foreclosure . Salaries and Employee Benefits: Decreased by $58,000 to $20.1 million, consistent with $20.1 million in 1Q25. $20,129 $19,645 $20,071 $14,693 $16,335 $14,721 1Q25 4Q25 Salaries & Employee Benefits 1Q26 Non - Interest Expense Dollars In Thousands Great Southern Bancorp. Inc | 8

$4,758.0 $4,482.8 $4,445.2 1Q25 4Q25 1Q26 $2,248.3 $2,289.4 $2,264.4 $852.7 $841.5 $857.4 $761.7 $688.4 $671.4 $895.4 $663.4 $652.0 $2,500 $2,000 $1,500 $1,000 $500 $0 1Q25 1Q26 Interest - bearing 4Q25 Non - Interest - bearing Time Brokered Great Southern Bancorp. Inc | 9 Deposits Interest - Bearing Deposits: Decreased by $25.0 million, or 1.1%, compared to 4Q25, primarily driven by a decrease in certain money market accounts. Non - Interest - Bearing Deposits: Increased by $15.8 million, or 1.9%, compared to the 4Q25. Time Deposits: Decreased by $17.0 million, or 2.5%, compared to 4Q25. Brokered Deposits: Decreased by $11.5 million, or 1.7%, across various alternative funding sources relative to 4Q25. Deposit Breakdown Dollars In Millions Total Deposits Dollars In Millions

Capital Stockholders’ Equity at March 31, 2026: $633.6 million, or 11.1% of total assets, down from $636.1 million (11.4% of total assets) at December 31, 2025. Key Drivers of Change in Stockholders’ Equity: ● $17.5 million in net income. ● $4.6 million in stock option exercises. ● $4.7 million in cash dividends declared. ● $16.9 million in common stock repurchases. ● $2.9 million decrease in stockholders’ equity driven by an increase in AOCI loss in 1Q26 compared to 4Q25. *Preliminary Mar. 31, 2025 Dec. 31, 2025 Mar. 31, 2026* Consolidated Regulatory Capital Ratios 11.3% 12.2% 12.2% Tier 1 Leverage Ratio 12.4% 13.6% 13.5% Common Equity Tier 1 Capital Ratio 12.9% 14.1% 14.0% Tier 1 Capital Ratio 15.6% 15.3% 15.2% Total Capital Ratio 10.1% 11.2% 11.0% Tangible Common Equity Ratio $613.3 10.2% $636.1 11.4% $633.6 11.1% 1Q25 4Q25 1Q26 Stockholders’ Equity Dollars In Millions Percentage of Total Assets Total Stockholders’ Equity Great Southern Bancorp. Inc | 10

Consumer* $179,525 4% Single Family Real Estate $789,551 17% Multi - family Real Estate $1,369,294 30% Commercial Real Estate $1,583,124 35% Const & Land Dev $432,146 10% Commercial Business $180,182 4% Loan Portfolio by Category Gross Loans [in thousands] *Includes Home Equity Loans of $134,704 3 - 31 - 26 $4,533,822 *Includes Home Equity Loans of $128,030 12 - 31 - 25 $4,434,516 Great Southern Bancorp. Inc | 11

Kansas City $232,330 5% St. Louis $747,154 17% Springfield $384,159 8% Missouri - Other $237,936 5% Iowa/Nebraska/ South Dakota $388,026 9% Minnesota $304,665 7% Oklahoma $110,964 2% Denver $135,443 3% Georgia $140,479 3% Colorado - Other $107,321 2% $167,960 4% Dallas Chicago $206,677 5% Texas - Other $298,822 7% 3% Florida $193,313 4% Phoenix $127,006 Midwest Region $286,114 6% Southern Region $330,945 7% Other Region $134,508 3% Loan Portfolio by Region Gross Loans [in thousands] 3 - 31 - 26 $4,533,822 12 - 31 - 25 $4,434,516 Great Southern Bancorp. Inc | 12

Asset Quality Metrics Non - Performing Assets (NPAs): Increased to $10.1 million, representing 0.18% of total assets, up from $8.1 million (0.15% of total assets) 4Q25. Allowance for Credit Losses (ACL): Remained stable at 1.43% of total loans, a slight decrease from 1.46% in 4Q25. Net Charge - Offs (Recoveries): Net recoveries totaled $13,000 for the quarter, representing 0.00% of average loans on an annualized basis, compared to net charge - offs of $56,000, or 0.00%, in 1Q25. Provision (Credit) for Credit Losses on Loans and Unfunded Commitments: Recorded a negative provision of $931,000, compared to a negative provision of $348,000 in 1Q25, reflecting current portfolio trends and management’s assessment of the adequacy of reserves based on recent portfolio reviews and current economic conditions. Net Charge - Offs (Recoveries) $56,000 ($22,000) ($13,000) 1Q25 4Q25 1Q26 $9.5 $8.1 $10.1 0.16% 0.15% 0.18% 1Q26 Non - Performing Assets Dollars in Millions 1Q25 4Q25 Non - Performing Assets to Period - End Assets Non - Performing Assets Great Southern Bancorp. Inc | 13

Non - GAAP Reconciliation Great Southern Bancorp. Inc | 14 This document contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”), specifically, the ratio of tangible common equity to tangible assets. In calculating the ratio of tangible common equity to tangible assets, we subtract period - end intangible assets from common equity and from total assets. Management believes that the presentation of this measure excluding the impact of intangible assets provides useful supplemental information that is helpful in understanding our financial condition and results of operations, as it provides a method to assess management’s success in utilizing our tangible capital as well as our capital strength. Management also believes that providing a measure that excludes balances of intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers. In addition, management believes that this is a standard financial measure used in the banking industry to evaluate performance. This non - GAAP financial measurement is supplemental and is not a substitute for any analysis based on GAAP financial measures. Because not all companies use the same calculation of non - GAAP measures, this presentation may not be comparable to other similarly titled measures as calculated by other companies.

Non - GAAP Reconciliation Non - GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets Great Southern Bancorp. Inc | 15

Contact Us Great Southern Bancorp. Inc (NASDAQ: GSBC) Kincade Ayers (616) 233 - 0500 - GSBC@lambert.com Investor Relations

Exhibit 99.3

Loan Portfolio Presentation April 2026 Great Southern Bancorp. Inc (NASDAQ: GSBC) First Quarter Ended March 31, 2026

Consumer* $179,525 4% Single Family Real Estate $789,551 17% Multi - family Real Estate $1,369,294 30% Commercial Real Estate $1,583,124 35% Const & Land Dev $432,146 10% Commercial Business $180,182 4% Loan Portfolio by Category Gross Loans [in thousands] *Includes Home Equity Loans of $134,704 3 - 31 - 26 $4,533,822 *Includes Home Equity Loans of $128,030 12 - 31 - 25 $4,434,516 Great Southern Bancorp. Inc | 2

Kansas City $232,330 5% St. Louis $747,154 17% Springfield $384,159 8% Missouri - Other $237,936 5% Iowa/Nebraska/ South Dakota $388,026 9% Minnesota $304,665 7% Oklahoma $110,964 2% Denver $135,443 3% Georgia $140,479 3% Colorado - Other $107,321 2% $167,960 4% Dallas Chicago $206,677 5% Texas - Other $298,822 7% 3% Florida $193,313 4% Phoenix $127,006 Midwest Region $286,114 6% Southern Region $330,945 7% Other Region $134,508 3% Loan Portfolio by Region Gross Loans [in thousands] 3 - 31 - 26 $4,533,822 12 - 31 - 25 $4,434,516 Great Southern Bancorp. Inc | 3

Retail $292,420 18% Healthcare $232,934 15% Motels / Hotels $311,738 20% Office Buildings $169,657 11% Restaurants $93,218 6% Industrial $302,812 19% Storage $73,698 4% Other $106,647 7% Commercial Real Estate by Industry Gross Loans [in thousands] 3 - 31 - 26 $1,583,124 12 - 31 - 25 $1,556,148 Great Southern Bancorp. Inc | 4

Kansas City 6% St. Louis $278,916 18% Springfield $119,168 8% Missouri - Other $110,197 7% Iowa/Nebraska/South Dakota $101,715 6% Minnesota $70,653 4% Chicago $154,507 10% Texas $139,391 9% Midwest Region $158,238 10% Southern Region $245,464 15% Other Region $112,895 $91,980 7% Commercial Real Estate by Region Gross Loans [in thousands] 12 - 31 - 25 3 - 31 - 26 $1,583,124 $1,556,148 Great Southern Bancorp. Inc | 5

St. Louis $107,733 28% Missouri - Other $44,472 12% Springfield $17,298 4% Oklahoma 0% Minnesota $15,731 4% $370 Chicago $36,863 10% Denver $11,094 3% Midwest Region $69,447 18% Southern Region $48,119 12% Kansas City $9,154 5% St. Louis $50,596 30% Springfield $20,213 12% Oklahoma $17,412 10% Minnesota $11,929 7% Chicago $28,919 17% Denver $15,177 9% Southern Region $5,544 3% Midwest Region $8,140 5% Other Region $2,573 2% (as of 3/31/26) Commercial Real Estate Office and Retail Gross Loans [in thousands] Average credit size is $1,402,125 3 - 31 - 26 $169,657 Average credit size is $1,620,330 $385,639 3 - 31 - 26 Kansas City Other Region $16,826 $17,686 4% 5% Great Southern Bancorp. Inc | 6

Office $169,657 Retail + Restaurant $385,639 Traditional Medical $148,621 $21,036 Outstanding Balance 102 18 # of Loans $1,457 $1,107 Avg. Loan Size 45% 68% Weighted Avg. LTV 100% of Office Portfolio – Pass Rated Restaurants Neighborhood & Shopping Center Mixed - Use Single Tenant Strip Center $93,219 $52,252 $21,840 $56,990 $161,338 Outstanding Balance 80 10 13 71 61 # of Loans $1,137 $5,225 $1,680 $803 $2,602 Avg. Loan Size 59% 52% 61% 51% 59% Weighted Avg. LTV 100% of Retail Portfolio – Pass Rated $18,426 Owner Occupied 47 # of Loans $392 Avg. Loan Size 47% Weighted Avg. LTV $130,195 Office: Non - owner Occ. $90,972 >100,000 $13,006 20,000 - 100,000 $26,397 <20,000 55 # of Loans $2,367 Avg. Loan Size 44% Weighted Avg. LTV Commercial Real Estate Office and Retail (as of 3/31/26) Gross Loans [in thousands] Great Southern Bancorp. Inc | 7

Single Family $38,981 9% Apartments $243,827 56% Residential Land Dev $23,008 5% Commercial Land Dev $43,555 10% Retail $29,504 7% Industrial $33,395 8% Storage $4,055 1% Other $15,821 4% Construction & Land Development by Industry Gross Loans [in thousands] 3 - 31 - 26 $432,146 12 - 31 - 25 Great Southern Bancorp. Inc | 8 $349,161

St. Louis $44,792 10% Missouri - Other $26,095 6% Denver $20,832 5% Colorado - Other $50,824 12% Georgia $25,874 6% Dallas $21,133 5% Texas - Other $35,119 8% Phoenix $8,015 2% Midwest Region $86,895 20% Southern Region $77,754 18% Other Region $34,813 8% Construction & Land Development by Region Gross Loans [in thousands] 3 - 31 - 26 $432,146 12 - 31 - 25 $349,161 Great Southern Bancorp. Inc | 9

5% St. Louis $72,294 Missouri - Other $97,652 7% Iowa/Nebraska/ South Dakota $178,149 13% Minnesota $151,654 11% Oklahoma $47,243 3% Denver $77,826 6% Colorado - Other $36,186 3% Georgia $45,566 3% Dallas $99,132 7% Texas - Other $188,326 14% Midwest Region $81,442 6% Southern Region $227,798 17% Other Region $66,026 5% Multi Family Real Estate by Region Gross Loans [in thousands] 3 - 31 - 26 $1,369,294 12 - 31 - 25 $1,387,410 Average credit size is $6,224,066 Average credit size is $6,041,746 Great Southern Bancorp. Inc | 10

25% or less $11,985 1% 26% - 50% $329,908 24% 51% - 75% $919,868 67% 76% - 85% $73,964 5% 86% and higher $33,569 3% Multi Family Real Estate by LTV Gross Loans [in thousands] 3 - 31 - 26 $1,369,294 12 - 31 - 25 $1,387,410 Great Southern Bancorp. Inc | 11

Consumer* $26 1% Multifamily Real Estate $2,725 79% Single Family Real Estate $703 20% Non - Performing by Type Gross Loans [in thousands] 3 - 31 - 26 $3,454 12 - 31 - 25 $2,094 *Includes Home Equity Loans of $17 *Includes Home Equity Loans of $18 Great Southern Bancorp. Inc | 12

Missouri $303 9% Iowa/Nebraska/ South Dakota $3,112 90% Southern Region $3 0% Other Region $5 0% Midwest Region $31 1% Non - Performing by Region Gross Loans [in thousands] 3 - 31 - 26 $3,454 12 - 31 - 25 $2,094 Great Southern Bancorp. Inc | 13

Southern Region • Illinois • Indiana • Iowa • Kansas • Michigan • Minnesota • Missouri • Nebraska • North Dakota • Ohio • South Dakota • Wisconsin • Alabama • Arkansas • Delaware • Florida • Georgia • Kentucky • Louisiana • Maryland • Mississippi • North Carolina • Oklahoma • South Carolina • Tennessee • Texas • Virginia • Washington DC • West Virginia States by Region Midwest Region Great Southern Bancorp. Inc | 14

Contact Us Great Southern Bancorp. Inc (NASDAQ: GSBC) Kincade Ayers (616) 233 - 0500 - GSBC@lambert.com Investor Relations

FAQ

How did Great Southern Bancorp (GSBC) perform in Q1 2026?

Great Southern Bancorp reported Q1 2026 net income of $17.5 million and diluted EPS of $1.58. This was up from $17.2 million and $1.47 a year earlier, reflecting slightly higher profitability despite lower interest income.

What happened to Great Southern Bancorp’s net interest income and margin in Q1 2026?

Net interest income declined to $48.3 million in Q1 2026 from $49.3 million in Q1 2025, mainly due to lost income from a terminated swap. However, net interest margin improved to 3.71% from 3.57% as deposit and borrowing costs fell.

How strong was Great Southern Bancorp’s asset quality in Q1 2026?

Asset quality remained strong, with non-performing assets of $10.1 million, or 0.18% of total assets, at March 31, 2026. The bank reported virtually no net charge-offs and maintained an allowance for credit losses equal to 1.43% of total loans.

Did Great Southern Bancorp grow its loan portfolio in Q1 2026?

Yes. Total net loans, excluding mortgage loans held for sale, increased by $99.8 million, or 2.3%, to $4.46 billion at March 31, 2026. Growth was driven mainly by construction and commercial real estate loans, partly offset by lower multi-family balances.

What is Great Southern Bancorp’s capital position as of March 31, 2026?

Stockholders’ equity was $633.6 million, or 11.1% of total assets, with a tangible common equity to tangible assets ratio of 10.99%. Regulatory capital ratios significantly exceeded well-capitalized thresholds, even after dividends and share repurchases.

How much stock did Great Southern Bancorp repurchase in Q1 2026?

During Q1 2026, Great Southern Bancorp repurchased 268,664 common shares at an average price of $62.55. These buybacks, together with a $0.43 per share dividend, reduced stockholders’ equity by $21.6 million while still leaving strong capital ratios.

What does the Q1 2026 report say about Great Southern Bancorp’s liquidity and deposits?

Total deposits were $4.45 billion, down modestly from year-end, with slight declines in interest-bearing balances and time deposits. The company reported secured borrowing capacity of $1.24 billion at the FHLBank and $332.1 million at the Federal Reserve, plus substantial cash and unpledged securities.

Filing Exhibits & Attachments

7 documents

Press Releases

• EX-99.1 PRESS RELEASE 446.2 KB
• EX-99.2 EXHIBIT 99.2 26.3 KB
• EX-99.3 EXHIBIT 99.3 15.7 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 3.3 KB
• EX-101 XBRL DEFINITION FILE 25.5 KB
• EX-101 XBRL LABEL FILE 35.1 KB
• EX-101 XBRL PRESENTATION FILE 24.1 KB