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Stock impact report

Great Southern Bancorp, Inc. Reports Preliminary Second Quarter Earnings of $1.46 Per Diluted Common Share

Great Southern Bancorp, Inc. (GSBC) 
Last great southern bancorp, inc. earnings: 4/20 07:00 pm Check Earnings Report
Company Research Source: GlobeNewswire
Preliminary Financial Results and Other Matters for the Quarter and Six Months Ended June 30, 2021: CECL Adoption: As previously disclosed, 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 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.Significant Income and Expense Items: During the three months ended June 30, 2021, the Company recorded interest income of $1.1 million related to net deferred fee income accretion on Paycheck Protection Program (PPP) loans. Net fees ar Show less Read more
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