Why did Great Southern repurchase shares in the first half of 2026?

The filing does not explicitly state management's rationale for the timing or pace of repurchases. However, the company operates under a Board authorization from April 2025 permitting up to one million shares to be repurchased from time to time, which provides management discretion on execution. The repurchases occurred while the company maintained strong capital levels exceeding regulatory well-capitalized thresholds.

How many shares does Great Southern have left to repurchase?

As of June 30, 2026, approximately 304,000 shares remained available under the April 2025 authorization. This represents roughly 30% of the original one-million-share authorization, with 696,712 shares having been repurchased in the first six months of 2026 and potentially earlier periods.

Is Great Southern obligated to repurchase the remaining 304,000 shares?

No. The April 2025 authorization permits the company to repurchase shares 'from time to time,' meaning management has discretion over whether, when, and how many shares to repurchase within that authorized amount. Authorizations do not obligate completion.

What impact did the buyback have on Great Southern's capital ratios?

The $24.6 million in share repurchases (combined with $9.4 million in dividends) reduced stockholders' equity by $34.1 million in the first half of 2026. Despite this, the company's regulatory capital ratios remained strong: tangible common equity ratio of 11.47%, Tier 1 capital ratio of 14.6%, and total capital ratio of 15.8%—all well above 'well-capitalized' thresholds.

Did the buyback offset dilution from stock option exercises?

Partially. During the first half of 2026, the company experienced 205,480 shares of stock option exercises at an average price of $52.89, which increased equity by $11.9 million. The 383,288 shares repurchased at $64.29 exceeded the option exercises, providing a net reduction in shares outstanding of approximately 177,800 shares.

How does the buyback compare to dividends in terms of shareholder returns?

In the first half of 2026, the company declared $0.86 per share in dividends (approximately $9.4 million total) and repurchased $24.6 million in stock, for combined capital returns of $34.1 million. The buyback represented approximately 72% of total shareholder distributions, while dividends represented 28%.

GSBC 8-K Filed 2026-07-16 Execution disclosure

Great Southern repurchased 383K shares at $64.29 avg in H1 2026

Regional bank executed share buybacks under April 2025 authorization; 304K shares remain available

Shares repurchased383K

Avg price paid$64.29

MechanismRule 10b-18 open-market purcha

What the filing says

Great Southern Bancorp, Inc. (NASDAQ: GSBC) repurchased 383,288 shares of common stock during the first half of 2026 at an average price of $64.29 per share, according to preliminary financial results disclosed in an 8-K filing. The buyback activity occurred under a stock repurchase authorization approved by the Company's Board of Directors in April 2025, which authorized the purchase of up to one million additional shares of common stock.

During the second quarter specifically, the Company repurchased 114,624 shares at an average price of $68.39 per share. The buyback activity, combined with declared cash dividends totaling $0.86 per share in the first half of 2026, reduced stockholders' equity by $34.1 million over the period. Execution was conducted through open-market purchases.

As of June 30, 2026, approximately 304,000 shares remained available under the April 2025 authorization. The company's capital position remained strong, with tangible common equity representing 11.47% of tangible assets and book value per common share increasing to $58.95 as of the period end.

During the six months ended June 30, 2026, the Company repurchased 383,288 shares of its common stock at an average price of $64.29, and the Company's Board of Directors declared regular quarterly cash dividends totaling $0.86 per common share, which, combined, reduced stockholders' equity by $34.1 million. — GREAT SOUTHERN BANCORP, INC. 8-K filing · View on SEC EDGAR →

What this means

Great Southern's first-half 2026 buyback of 383,288 shares represents approximately 3.5% of shares outstanding at year-end 2025 (11.062 million), offsetting dividend and providing modest share-count reduction. At $64.29 average execution price, the aggregate repurchase cost was approximately $24.6 million. The buyback occurs within a strong capital context—the company's tangible common equity ratio of 11.47% and total capital ratio of 15.8% significantly exceed regulatory well-capitalized thresholds. With 304,000 shares remaining under the April 2025 authorization (about 30% of the original million-share program), the company retains capacity for future opportunistic repurchases.

Frequently asked questions

Why did Great Southern repurchase shares in the first half of 2026?: The filing does not explicitly state management's rationale for the timing or pace of repurchases. However, the company operates under a Board authorization from April 2025 permitting up to one million shares to be repurchased from time to time, which provides management discretion on execution. The repurchases occurred while the company maintained strong capital levels exceeding regulatory well-capitalized thresholds.
How many shares does Great Southern have left to repurchase?: As of June 30, 2026, approximately 304,000 shares remained available under the April 2025 authorization. This represents roughly 30% of the original one-million-share authorization, with 696,712 shares having been repurchased in the first six months of 2026 and potentially earlier periods.
Is Great Southern obligated to repurchase the remaining 304,000 shares?: No. The April 2025 authorization permits the company to repurchase shares 'from time to time,' meaning management has discretion over whether, when, and how many shares to repurchase within that authorized amount. Authorizations do not obligate completion.
What impact did the buyback have on Great Southern's capital ratios?: The $24.6 million in share repurchases (combined with $9.4 million in dividends) reduced stockholders' equity by $34.1 million in the first half of 2026. Despite this, the company's regulatory capital ratios remained strong: tangible common equity ratio of 11.47%, Tier 1 capital ratio of 14.6%, and total capital ratio of 15.8%—all well above 'well-capitalized' thresholds.
Did the buyback offset dilution from stock option exercises?: Partially. During the first half of 2026, the company experienced 205,480 shares of stock option exercises at an average price of $52.89, which increased equity by $11.9 million. The 383,288 shares repurchased at $64.29 exceeded the option exercises, providing a net reduction in shares outstanding of approximately 177,800 shares.
How does the buyback compare to dividends in terms of shareholder returns?: In the first half of 2026, the company declared $0.86 per share in dividends (approximately $9.4 million total) and repurchased $24.6 million in stock, for combined capital returns of $34.1 million. The buyback represented approximately 72% of total shareholder distributions, while dividends represented 28%.

execution regional-bank rule-10b-18 capital-return GSBC

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.