Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q1 2022 Earnings Conference Call April 21, 2022 3:00 PM ET
Company Participants
Kelly Polonus - Investor Relations
Joe Turner - President and CEO
Rex Copeland - Chief Financial Officer
Conference Call Participants
Andrew Liesch - Piper Sandler
Damon DelMonte - KBW
Operator
Good day and thank you for standing by. Welcome to the Great Southern Bancorp Incorporated First Quarter 2022 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]
I would now like to hand the conference over to our speaker today, Ms. Kelly Polonus. You may begin.
Kelly Polonus
Thank you, Tanya. Good afternoon. And welcome to our call. The purpose of this call today is to discuss the company’s results for the quarter ending March 31, 2022.
Before we begin, I need to remind you that during this call, we may make forward-looking statements about future events and financial performance. Please do not place any undue reliance on any of these forward-looking statements which speak only as the date they are made. Please see our forward-looking statements disclosure in our first quarter 2022 earnings release for more information.
President and CEO, Joe Turner; and Chief Financial Officer, Rex Copeland, are on the call with me today.
I’ll now turn the call over to Joe Turner.
Joe Turner
Okay. Thanks, Kelly. Good afternoon, and as Kelly said, we really appreciate all of you joining us for our call today. Overall, our first quarter earnings were very solid. They get us off to a great start for what we expect to be another productive year.
We certainly recognize that there are continued economic and -- there’s continued economic and societal uncertainty, if the word is going to remain focused on our customer’s needs, and as always, operate with a long view mindset.
As is typical, I’ll provide some brief remarks on the company’s performance and then turn the call over to Rex Copeland, our CFO to go into more detail about the financial results, then we’ll open it up for questions.
In the first quarter of 2022, we earned $17 million or $1.30 per diluted share, compared to $18.9 million or $1.36 per diluted share. I think our pretax earnings were down Q1 2022 from Q1 2021 about $2.5 million and that’s almost entirely the result of lower PPP fees by about $800,000 and I think our profit on loan sales was down by about $1.5 million.