Great Southern Bancorp Inc. Reports Operating Results (10-Q)
Great Southern Bancorp, Inc. has a market cap of $399.7 million; its shares were traded at around $29.54 with a P/E ratio of 9 and P/S ratio of 1.9. The dividend yield of Great Southern Bancorp, Inc. stocks is 2.4%. Great Southern Bancorp, Inc. had an annual average earning growth of 4.6% over the past 10 years.
Highlight of Business Operations:Average prices for existing home sales in the Midwest, which includes our market areas, are up 14.6% in 2012 over 2011 according to the National Association of Realtors. Retail, office and industrial types of commercial real estate properties had vacancy rates that averaged 10.3%, 14.95% and 9.74%, respectively, in the Company s primary markets for 2012 according to real estate services firm Colliers International. These vacancy rates in the Company s primary markets are up from averages of 9.6%, 15.1% and 8.8%, respectively, for 2007, prior to the economic downturn. Higher vacancy rates have negatively impacted cash flows on commercial real estate loans. Increased vacancy rates for commercial real estate properties can correlate to fewer commercial land development sales because of the risk involved in developing these types of properties when similar completed properties have vacancies.
Available-for-sale Securities. In the six months ended June 30, 2012, Great Southern's available-for-sale securities decreased $56.2 million, or 6.4%, from $875.4 million at December 31, 2011, to $819.2 million at June 30, 2012. The decrease was primarily due to calls and sales of state and political subdivision bonds which decreased $22.5 million, or 14.9%, and paydowns, maturities and sales of mortgage-backed securities which decreased $41.5 million, or 6.5%.
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