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Great Southern Bancorp announces dividend

Great Southern Bancorp announces dividend
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Great Southern Bancorp Inc (GSBC) Q1 2021 Earnings Call Transcript


Operator
Good day, and thank you for standing by. Welcome to the Great Southern Bancorp, Inc. First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today s conference is being recorded. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Kelly Polonus, Investor Relations. Please go ahead.
Kelly Polonus
Investor Relations
Thank you, Judy. Good afternoon and welcome. The purpose of this call is to discuss the company s results for the quarter ending March 31, 2021. ....

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Great Southern Bancorp, Inc. Reports Preliminary First Quarter Earnings of $1.36 Per Diluted Common Share


Great Southern Bancorp, Inc. Reports Preliminary First Quarter Earnings of $1.36 Per Diluted Common Share
Preliminary Financial Results and Other Matters for the Quarter Ended March 31, 2021:
CECL Adoption
: Effective January 1, 2021, Great Southern Bancorp, Inc. (the Company) adopted the Current Expected Credit Loss (CECL) accounting standard. The Company’s financial statements for periods prior to January 1, 2021, were prepared under the previous incurred loss accounting standard. The adoption of the CECL accounting standard during the first quarter of 2021 required us to recognize a one-time cumulative adjustment to our allowance for credit losses and a liability for potential losses related to the unfunded portion of our loans and commitments in order to fully transition from the incurred loss model to the CECL model. With the adoption of the CECL standard, we increased the balance of our allowance for credit losses related to outstanding loans by $11.6 million a ....

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