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Note 16: Subsequent Event | 6 Months Ended
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Jun. 30, 2015
Notes |
Note 16: Subsequent Event | NOTE 16: SUBSEQUENT EVENT On July 29, 2015, the Company was the successful bidder in an auction of the $5.0 million aggregate liquidation amount of floating rate cumulative trust preferred securities issued in 2007 by Great Southern Capital Trust III, a statutory trust formed by the Company for the purpose of issuing those securities and holding the Company’s related floating rate junior subordinated debentures. The Company purchased the trust preferred securities at a discount, which it expects will result in a pre-tax gain of approximately $1.0 million. Subsequent to the purchase, which resulted in the Company’s ownership of all of the outstanding common and preferred securities of Great Southern Capital Trust III, such securities were canceled and the principal amount of the Company’s related debentures, which had equaled the aggregate liquidation amount of the outstanding common and preferred securities of Great Southern Capital Trust III, was reduced to zero.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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