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Note 30: Subsequent Event - Branch Acquisition | 12 Months Ended
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Dec. 31, 2013
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Note 30: Subsequent Event - Branch Acquisition | Note 30: Subsequent Event – Branch Acquisition On January 14, 2014, the Company announced that it signed a definitive agreement to purchase two branches in Neosho, Mo., from Boulevard Bank. The acquisition represents approximately $65 million of deposits and $6 million of loans. Great Southern currently operates one banking center in Neosho. Subject to separate regulatory approval and after conversion of all Neosho locations to one operating system, the Bank expects to relocate this office into the Boulevard Bank branch directly across the street. This transaction will ultimately represent a net increase of one banking center to the Great Southern franchise. Terms of the agreement call for Great Southern to acquire the loans at par and pay a two percent premium on approximately $55 million of the deposits. The Company will pay book value of approximately $700,000 for the real and personal property associated with these two branches. On January 31, 2014, the Company announced that it signed a definitive agreement with Boulevard Bank to acquire additional depository and loan customers serviced from Boulevard’s branch in St. Louis, Mo. The Company will acquire approximately $39 million in depository accounts and $6 million in commercial loans that were serviced by Boulevard’s St. Louis branch. The Company will not obtain any branch locations or employees in St. Louis as part of this transaction and deposits are being assumed with no significant additional premium. The combined transactions represent approximately $104 million in deposits and $12 million in loans. Both acquisitions are expected to be simultaneously completed in late March 2014, pending regulatory approval.

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