Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q2 2023 Earnings Conference Call July 20, 2023 3:00 PM ET

Company Participants

Kelly Polonus - Investor Relations

Joseph Turner - President and Chief Executive Officer

Rex Copeland - Senior Vice President and Chief Financial Officer

Conference Call Participants

Andrew Liesch - Piper Sandler & Co.

Damon DelMonte - Keefe, Bruyette, & Woods, Inc.

Operator

Good day, and thank you for standing by. Welcome to the Great Southern Bancorp Second Quarter 2023 Earnings 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.

I would now like to hand the conference over to your speaker today, Kelly Polonus with Great Southern. Please go ahead.

Kelly Polonus

Thank you, Victor. Good afternoon, and thank you for joining us for our second quarter 2023 earnings call. This is Kelly Polonus, Investor Relations for Great Southern. The purpose of this call is to discuss the Company's results for the quarter ending June 30, 2023.

Before we begin, I need to remind you that during the course of this call, we may make forward-looking statements about future events and future financial performance. These statements are subject to a number of factors that could cause actual results to differ materially from the results anticipated or projected. For a list of some of these factors, please see the forward-looking statements disclosure in our second quarter earnings release and other public filings. President and CEO, Joe Turner; and Chief Financial Officer, Rex Copeland, are on the call with me.

I'll now turn the meeting over to Joe Turner.

Joseph Turner

All right. Thanks, Kelly. Good afternoon to everybody. Thank you for joining us for our second quarter earnings call. Our second quarter performance was solid as we continue to navigate through a pretty challenging operating environment. Thanks to the hard work of our team, we earned $1.52 per common share or $18.3 million compared to $1.44 and $18.2 million during the second quarter 2022. Our earnings performance ratios were also good with annualized ROA of 1.28%, and annualized return on average equity of 13.11%.

We had mentioned on our last call some anticipated headwinds that we would face in the second quarter related to net interest margin. Net interest margin did decline to 3.56% for the second quarter compared to 3.78% for the same period in 2022 and 3.99% for the first quarter in 2023.