Great Southern Bancorp, Inc. (GSBC): BCG Matrix [Dec-2025 Updated]

You're trying to map out Great Southern Bancorp, Inc.'s (GSBC) capital strategy as of late 2025, and the BCG Matrix paints a sharp picture: the $1.59$ billion Multifamily Lending segment is a clear Star, fueling 16.5% profit growth, while the Core CRE portfolio reliably milks out $50.8$ million in Net Interest Income. Still, we must watch the Question Marks, like the 7.9% jump in expensive brokered deposits, which sit alongside the low-yield Dogs, so dive in to see precisely where this bank needs to invest, hold, or divest its resources right now.

Background of Great Southern Bancorp, Inc. (GSBC)

You're looking at Great Southern Bancorp, Inc. (GSBC), which is the holding company for Great Southern Bank. This institution has deep roots, having started back in 1923 with just four employees in Springfield, Missouri. Honestly, it's grown quite a bit since then, becoming a regional player in the financial services industry. Great Southern Bancorp, Inc. has been publicly traded on the NASDAQ Global Select Stock Exchange under the ticker GSBC since 1989, which means they operate under rigorous regulatory oversight.

The company's main business is providing a full suite of banking products. They focus on serving individuals, businesses, and communities across their footprint, which is heavily concentrated in Missouri, but also includes branches in Arkansas, Iowa, Kansas, Minnesota, and Nebraska. As of late 2025, their network includes 97 offices across 12 states, with 89 of those being retail banking centers. To be fair, they also have commercial lending offices in major hubs like Chicago, Dallas, and Denver, showing a broader reach than just the Midwest retail centers.

Looking at their most recent performance data from the third quarter ended September 30, 2025, you see a bank that's managing costs well. For that quarter, Great Southern Bancorp, Inc. reported net income of $17.8 million, translating to diluted earnings per share of $1.56, which beat analyst expectations. Their net interest income was $50.8 million, a nice increase of about 5.8% year-over-year, driven by disciplined funding cost control. The annualized net interest margin improved to 3.72% as of Q3 2025.

On the balance sheet side, as of September 30, 2025, total assets for Great Southern Bancorp, Inc. stood at $5.74 billion, a slight decrease from the end of 2024. What stands out is their asset quality; non-performing assets were down significantly to $7.8 million, which is just 0.14% of total assets. Their capital position remains strong, with total stockholders' equity at $632.9 million at the end of the third quarter.

The core business units are centered around their loan portfolio and deposit gathering. While the loan portfolio remained relatively steady around $4.69 billion at the start of 2025, management has been actively managing liabilities, letting some more expensive brokered deposits roll off. Their strategy emphasizes maintaining strong capital and liquidity while supporting customers through relationship banking, even as they make strategic investments in technology upgrades.

Great Southern Bancorp, Inc. (GSBC) - BCG Matrix: Stars

The Star quadrant in the Boston Consulting Group Matrix represents business units with a high market share in a high-growth market. For Great Southern Bancorp, Inc. (GSBC), this positioning is suggested by the performance of its largest lending segment, which commands significant volume, and its strong margin performance, indicating leadership in a profitable area of its business, even if the overall loan portfolio growth is muted.

Multifamily Residential Lending stands out as a core leader, representing the largest segment of the loan book at $1.59 billion in outstanding balances as of Q1 2025. This substantial portfolio size in a specific asset class suggests a high market share within that niche for Great Southern Bancorp, Inc. (GSBC). This segment is a major cash generator, aligning with the Star definition, though it requires continued investment to maintain that leading position.

Profitability metrics show that Great Southern Bancorp, Inc. (GSBC) is effectively monetizing its assets. The Net Interest Margin (NIM) demonstrated clear expansion, reaching 3.72% in Q3 2025. This is an increase from 3.68% in Q2 2025 and significantly up from 3.42% in Q3 2024, which points to effective asset-liability management and strong pricing power in its core operations, a hallmark of a market leader.

The high profitability growth is concrete. For the second quarter of 2025, net income was reported at $19.8 million, which represents a year-over-year increase of approximately 16.5% when compared to the $17.0 million net income reported in Q2 2024. This strong earnings performance, driven by net interest income growth of 8.9% year-over-year to $51.0 million in Q2 2025, confirms the unit's ability to generate substantial cash flow.

Despite the strength in specific segments and profitability, the overall loan portfolio shows signs of flatness, which is common for a Star nearing maturity or operating in a slower growth environment. Net loans decreased sequentially in Q3 2025 by $66.6 million versus Q2 2025, and were down $222.7 million year-to-date, primarily due to elevated payoff activity across construction and multifamily loans. This supports the need for strategic focus to maintain market share against borrower prepayment incentives.

Here's a quick look at the key financial indicators supporting the Star classification for Great Southern Bancorp, Inc. (GSBC)'s leading segments and profitability:

• Multifamily Residential Lending balance (Q1 2025): $1.59 billion.
• Net Interest Margin (Q3 2025): 3.72%.
• Q2 2025 Net Income: $19.8 million.
• Loan portfolio growth: Flat to contracting due to paydowns.

The relative performance of key profitability and segment metrics is summarized below:

The strategic loan growth focus remains critical in key markets to ensure that the high-share segments like Multifamily Residential Lending do not erode. If Great Southern Bancorp, Inc. (GSBC) sustains this level of margin performance and segment volume while the market slows, these Stars are definitely positioned to transition into Cash Cows.

Great Southern Bancorp, Inc. (GSBC) - BCG Matrix: Cash Cows

You're looking at the core engine of Great Southern Bancorp, Inc. (GSBC), the business units that are market leaders in mature segments, demanding less growth investment while reliably funding the rest of the enterprise. These are the units we want to 'milk' for consistent returns.

The Core Commercial Real Estate (CRE) portfolio stands as a prime example of this stability. As of the first quarter of 2025, this portfolio represented a stable asset base of $1.49 billion. This segment operates in a market where Great Southern Bancorp, Inc. has established a strong, mature position, generating predictable returns without requiring massive capital infusions for expansion.

The primary revenue engine, Net Interest Income (NII), reflects this cash-generating power. For the third quarter of 2025, NII reached $50.8 million, exceeding analyst estimates. This performance, driven by strategic asset-liability management and lower funding costs, shows the unit's ability to convert its market share into tangible cash flow.

Asset quality within these established areas is exceptionally strong, which is critical for a Cash Cow. For the third quarter of 2025, non-performing assets (NPAs) were reported at just 0.14% of total assets. This low ratio means minimal cash is consumed by credit loss provisions, allowing more cash to flow up to the holding company. To give you context on the balance sheet size supporting this metric, total assets were near $5.73 Billion USD as of September 2025.

The funding mechanism for this stable lending operation is the stable, low-cost core deposit base. This base provides consistent funding, reducing reliance on more volatile or expensive sources. Total deposits stood at $4.53 billion as of September 30, 2025. The non-interest-bearing deposit component, a key indicator of low-cost funding, even saw an increase of $12.4 million compared to the end of the fourth quarter of 2024.

Here's a quick look at the key financial indicators supporting the Cash Cow classification for Great Southern Bancorp, Inc. as of the latest reported periods:

The strategy here is clear: maintain the infrastructure to keep these assets performing and the funding costs low. You want to invest just enough to keep the efficiency high, but not so much that you erode the strong cash generation. Consider the following operational strengths that support milking these gains:

• No loan loss provision expense recorded in Q3 2025.
• Annualized Return on Average Assets (ROAA) at 1.23% for Q3 2025.
• Tangible common equity ratio improved to 10.9%.
• Repurchased 165,116 shares in Q3 2025.
• Quarterly dividend raised to $0.43 per share.

The benefit from a terminated interest rate swap, which provided approximately $2.0 million of interest income per quarter, ceased after the third quarter of 2025, so you need to factor that Q4 headwind into future cash flow projections. Still, the underlying asset quality and NII generation remain the bedrock.

Finance: draft Q4 2025 cash flow projection incorporating the loss of the $2.0 million swap benefit by Friday.

Great Southern Bancorp, Inc. (GSBC) - BCG Matrix: Dogs

You're looking at the parts of Great Southern Bancorp, Inc. that aren't driving significant growth or cash flow, the classic Dogs in the portfolio. These are the areas where market share is low, and the underlying market growth is minimal, meaning expensive turn-around efforts are usually just throwing good money after bad.

For Great Southern Bancorp, Inc., the non-interest income streams fit this profile, representing a smaller piece of the overall revenue pie. Total Non-Interest Income for the third quarter of 2025 was reported at $7.1 million, which was only a 1.0% increase from $7.0 million in the third quarter of 2024. This component is definitely not a primary growth engine.

Within this smaller segment, specific items show stagnation or decline, suggesting they are candidates for minimization or divestiture if they consume disproportionate management attention. Net gains on mortgage loan sales, for instance, saw small decreases in the first quarter of 2025 compared to the prior year period, which aligns with the general theme of limited upside in this area.

Here's a look at how some of the key non-interest income drivers performed in the third quarter of 2025:

The overall loan portfolio growth is a major indicator of a low-growth environment for Great Southern Bancorp, Inc.'s core lending business. The loan portfolio remained essentially flat at $4.77 billion as of the first quarter of 2025 compared to the end of 2024. This flatness reflects both limited loan demand and the company's disciplined underwriting approach. By the third quarter of 2025, gross loans had actually contracted to $4.54 billion from $4.76 billion at December 31, 2024, driven by paydowns in construction, commercial real estate, and residential loans.

Another area that can be categorized as a Dog, if it represents older, less profitable assets, involves certain legacy investment holdings. We see that as of the second quarter of 2025, Great Southern Bancorp, Inc. held an investment securities portfolio totaling $727 million, which carried a relatively low yield of 3.36% at that time. These are assets where the yield is lagging current market opportunities, meaning capital is tied up without generating top-tier returns, which is the definition of a cash trap.

The characteristics suggesting a Dog classification for these segments include:

• Limited Asset Growth: Loan portfolio growth was essentially flat at $4.77 billion in Q1 2025.
• Stagnant Fee Income: Total Non-Interest Income was only $7.1 million in Q3 2025.
• Declining Specific Gains: Net gains on loan sales fell 14.9% year-over-year in Q3 2025.
• Low-Yield Assets: Investment securities portfolio yielded 3.36% in Q2 2025.

Honestly, the focus here should be on managing these units for break-even or efficient divestiture rather than pouring resources into a costly revival. Finance: draft 13-week cash view by Friday.

Great Southern Bancorp, Inc. (GSBC) - BCG Matrix: Question Marks

Question Marks represent business areas for Great Southern Bancorp, Inc. (GSBC) that operate in high-growth markets but currently hold a low market share. These units consume significant cash flow but have not yet generated substantial returns, demanding a clear strategic choice: invest heavily to capture share or divest.

For Great Southern Bancorp, Inc. (GSBC), the funding mix shows an area fitting this profile, specifically the reliance on brokered deposits, which are generally a higher-cost funding source that requires active management to optimize returns.

• Brokered deposits, which increased $61.2 million (7.9%) in H1 2025, represent a funding source that must be quickly converted into a Star or reduced to avoid becoming a Dog.
• The strategic management of these deposits is evident, as the average rate paid on brokered deposits decreased by 72 basis points in Q3 2025 compared to Q3 2024, showing an effort to control the cost of this growth funding.
• Total deposits stood at $4.53 billion as of September 30, 2025, with brokered deposits decreasing by $92.1 million from the prior quarter, indicating a shift in funding strategy.

Investments in infrastructure, necessary for future growth and market penetration, also fall into this quadrant as they are cash-consuming before yielding market share gains. These investments are crucial for supporting expansion into new, competitive markets.

The expansion strategy targets new commercial lending offices in high-growth metropolitan areas outside the core Midwest footprint. These new offices are cash-intensive as they build market presence against established competitors. You need to see rapid loan portfolio growth here to justify the investment.

• Commercial lending offices are established in markets such as Atlanta and Phoenix.
• The overall footprint includes 89 retail banking centers across six states, indicating that expansion into new markets like Atlanta or Phoenix represents a low-share entry into potentially high-growth regions.

The existing retail banking center network, spread across states like Missouri, Iowa, Kansas, Minnesota, Arkansas, and Nebraska, also contains units that may be Question Marks. These are in regional markets where Great Southern Bancorp, Inc. (GSBC) may have a low market share despite the market's overall stability or moderate growth. The goal here is to gain traction quickly against entrenched local or larger regional banks.

The overall asset base provides context for these growth areas; total assets were reported at $6.0 billion as of February 2025. The strategy for these Question Marks must be decisive: either commit significant capital to rapidly increase market share, or recognize the low-share position as a permanent drain and plan for divestiture or consolidation. Finance: draft the 13-week cash flow projection showing the burn rate impact of the $36.1 million non-interest expense by Friday.