GSBC · CIK 0000854560
What Great Southern Bancorp, Inc. told the SEC could break it.
Great Southern's disclosures cluster on two concentrations. Geographically, about 76% of its deposit dollars are in Missouri and its loans are weighted toward Missouri metros (St. Louis around 16% of loans), tying results to that single-state economy despite some expansion into neighboring states. By loan type, higher-risk commercial categories — construction, commercial real estate and multi-family — make up roughly 78% of its portfolio (CRE about 35%, multi-family about 31%), concentrating credit risk well beyond owner-occupied home mortgages. Supporting that growth, it leans on wholesale funding such as brokered deposits and FHLBank advances, and as a bank holding company it operates under capital-adequacy rules and dividend restrictions requiring regulatory approval.
4 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Liquidity & debt
- 78.3% of loan portfolio in higher-risk CRE/multi-family/construction/commercial loanshigh
Commercial and multi-family construction, commercial real estate, multi-family and other commercial loans made up ~78.3% of Great Southern's loan portfolio at year-end 2025 (CRE ~35%, multi-family ~31%) — categories it considers higher-risk than owner-occupied 1-4 family mortgages, concentrating credit risk in CRE.
“Our commercial and other residential (multi-family) construction, commercial real estate, other residential (multi-family) and other commercial loans accounted for approximately 78.3% of our total loan portfolio as of December 31, 2025. Generally, we consider these types of loans to involve a higher degree of risk compared to first mortgage loans on one- to four-family, owner-occupied residential properties.”
SEC filing →As of 2026 - reliance on brokered deposits, FHLBank advances and Fed borrowings to fund loan growthmedium
Great Southern depends on wholesale funding — brokered deposits, FHLBank advances and Federal Reserve borrowings — to fund loan growth when deposit generation lags; loss of access to these sources or rising rates to attract deposits would pressure liquidity and net interest margin.
“Our operations may depend upon our continued ability to access brokered deposits, Federal Home Loan Bank advances and/or Federal Reserve Bank borrowings.”
SEC filing →As of 2026
Geographic concentration
- ~76% of deposit dollars in Missouri; loans concentrated in MO MSAs (St. Louis 16%)high
About 75.8% of Great Southern's deposit-franchise dollars are in Missouri, with loans concentrated in Missouri MSAs (St. Louis ~16% of loans, Springfield ~8%), tying results to that single-state economy despite some expansion into Kansas, Arkansas, Minnesota and Iowa.
“approximately 75.8% of our deposit franchise dollars were located in Missouri, where our total market share at June 30, 2025, was 1.3%, or tenth in the state”
Regulatory & policy
- bank capital-adequacy and dividend restrictions; prompt-corrective-action regimemedium
Great Southern and its bank are subject to capital-adequacy rules and FDIC prompt-corrective-action authority; dividends require prior regulatory approval if they would reduce capital below minimums, and falling below thresholds triggers growth limits and acquisition restrictions.
“The Company and the Bank are subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval. At December 31, 2025 and 2024, the Company and the Bank exceeded their minimum capital requirements then in effect.”
SEC filing →As of 2026
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