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Note 27: Condensed Parent Company Statements

12 Months Ended

Dec. 31, 2013

Note 27: Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2013 and 2012, and statements of income, comprehensive income and cash flows for the years ended December 31, 2013, 2012 and 2011, for the parent company, Great Southern Bancorp, Inc., were as follows:

	December 31,
	2013	2012
(In Thousands)
Statements of Financial Condition

Assets
Cash	$38,965	$23,430
Available-for-sale securities	2,869	2,006
Investment in subsidiary bank	371,590	375,281
Income taxes receivable	31	32
Prepaid expenses and other assets	1,752	1,059

	$415,207	$401,808

Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	$2,891	$599
Deferred income taxes	689	406
Subordinated debentures issued to capital trust	30,929	30,929
Preferred stock	57,943	57,943
Common stock	137	136
Additional paid-in capital	19,567	18,394
Retained earnings	300,589	276,751
Accumulated other comprehensive gain	2,462	16,650

	$415,207	$401,808

	2013	2012	2011
(In Thousands)
Statements of Income
Income
Dividends from subsidiary bank	$24,000	$12,000	$12,000
Interest and dividend income	20	33	27
Net realized gains on sales of
available-for-sale securities	--	280	--
Other income (loss)	13	(19)	--

	24,033	12,294	12,027

Expense
Operating expenses	1,132	1,297	1,196
Interest expense	560	617	569

	1,692	1,914	1,765

Income before income tax and
equity in undistributed earnings
of subsidiaries	22,341	10,380	10,262
Credit for income taxes	(365)	(401)	(510)

Income before equity in earnings
of subsidiaries	22,706	10,781	10,772

Equity in undistributed earnings of
subsidiaries	11,023	37,925	19,497

Net income	$33,729	$48,706	$30,269

	2013	2012	2011
(In Thousands)
Statements of Cash Flows
Operating Activities
Net income	$33,729	$48,706	$30,269
Items not requiring (providing) cash
Equity in undistributed earnings of subsidiary	(11,023)	(37,925)	(19,497)
Compensation expense for stock option grants	443	435	486
Net realized gains on sales of available-for-sale
securities	--	(280)	--
Changes in
Prepaid expenses and other assets	4	(19)	--
Accounts payable and accrued expenses	(146)	226	(58)
Income taxes	1	10	2
Net cash provided by operating activities	23,008	11,153	11,202

Investing Activities
Investment in subsidiaries	--	--	(15,000)
(Investment)/Return of principal - other investments	(13)	49	61
Proceeds from sale of available-for-sale securities	--	664	--
Purchase of held-to-maturity securities	--	--	(840)
Proceeds from maturity of held-to-maturity securities	--	840	--
Net cash provided by (used in) investing
activities	(13)	1,553	(15,779)

Financing Activities
Proceeds from issuance of SBLF preferred stock	--	--	57,943
Redemption of CPP preferred stock	--	--	(58,000)
Purchase of common stock warrant	--	--	(6,436)
Purchase of interest rate derivative	(738)	--	--
Dividends paid	(7,964)	(12,991)	(12,237)
Stock options exercised	1,242	2,269	311
Net cash used in financing activities	(7,460)	(10,722)	(18,419)

Increase (Decrease) in Cash	15,535	1,984	(22,996)

Cash, Beginning of Year	23,430	21,446	44,442

Cash, End of Year	$38,965	$23,430	$21,446

Additional Cash Payment Information
Interest paid	$565	$620	$563

	2013	2012	2011
(In Thousands)
Statements of Comprehensive Income
Net Income	$33,729	$48,706	$30,269
Unrealized appreciation on available-for- sale securities, net of taxes (credit) of $302, $195 and $(102), for 2013, 2012 and 2011, respectively	561	363	(189)

Less: reclassification adjustment for gains included in net income, net of taxes of $0, $98 and $0 for 2013, 2012 and 2011, respectively	--	(182)	--

Comprehensive income (loss) of subsidiaries	(14,749)	4,056	8,381

Comprehensive Income	$19,541	$52,943	$38,461

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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