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Note 27: Condensed Parent Company Statements | 12 Months Ended
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Dec. 31, 2018
Notes |
Note 27: Condensed Parent Company Statements | Note 27: Condensed Parent Company Statements The condensed statements of financial condition at December 31, 2018 and 2017, and statements of income, comprehensive income and cash flows for the years ended December 31, 2018, 2017 and 2016, for the parent company, Great Southern Bancorp, Inc., were as follows:
| December 31,
| 2018 |  | 2017
| (In Thousands)
Statements of Financial Condition |  |  |
Assets |  |  |
Cash | $ 56,648 |  | $ 41,977
Investment in subsidiary bank | 580,016 |  | 533,153
Deferred and accrued income taxes | 411 |  | 133
Prepaid expenses and other assets | 889 |  | 903
| $ 637,964 |  | $ 576,166
Liabilities and Stockholders’ Equity |  |  |
Accounts payable and accrued expenses | $ 6,371 |  | $ 5,042
Subordinated debentures issued to capital trust | 25,774 |  | 25,774
Subordinated notes | 73,842 |  | 73,688
Common stock | 142 |  | 141
Additional paid-in capital | 30,121 |  | 28,203
Retained earnings | 492,087 |  | 442,077
Accumulated other comprehensive income | 9,627 |  | 1,241
| $ 637,964 |  | $ 576,166
| 2018 |  | 2017 |  | 2016
| (In Thousands)
Statements of Income |  |  |  |  |
Income |  |  |  |  |
Dividends from subsidiary bank | $ 34,000 |  | $ 17,500 |  | $ 12,000
Interest and dividend income | — |  | 48 |  | —
Gain on redemption of trust preferred securities and sale of non-marketable securities | — |  | — |  | 2,735
Other income | — |  | — |  | 2
| 34,000 |  | 17,548 |  | 14,737
Expense |  |  |  |  |
Operating expenses | 1,793 |  | 1,330 |  | 1,322
Interest expense | 5,050 |  | 5,047 |  | 2,381
| 6,843 |  | 6,377 |  | 3,703
Income before income tax and |  |  |  |  |
equity in undistributed earnings |  |  |  |  |
of subsidiaries | 27,157 |  | 11,171 |  | 11,034
Credit for income taxes | (1,204) |  | (1,709) |  | (241)
Income before equity in earnings |  |  |  |  |
of subsidiaries | 28,361 |  | 12,880 |  | 11,275
Equity in undistributed earnings of |  |  |  |  |
subsidiaries | 38,748 |  | 38,684 |  | 34,067
Net income | $ 67,109 |  | $ 51,564 |  | $ 45,342
| 2018 |  | 2017 |  | 2016
| (In Thousands)
Statements of Cash Flows |  |  |  |  |
Operating Activities |  |  |  |  |
Net income | $ 67,109 |  | $ 51,564 |  | $ 45,342
Items not requiring (providing) cash |  |  |  |  |
Equity in undistributed earnings of subsidiary | (38,748) |  | (38,684) |  | (34,067)
Compensation expense for stock option grants | 737 |  | 564 |  | 483
Net realized gains on sales of available-for-sale |  |  |  |  |
securities | — |  | — |  | (2,735)
Amortization of interest rate derivative and deferred costs on subordinated notes | 154 |  | 441 |  | 289
Changes in |  |  |  |  |
Prepaid expenses and other assets | 13 |  | 132 |  | 175
Accounts payable and accrued expenses | 182 |  | (115) |  | 1,495
Income taxes | (278) |  | 6 |  | (206)
Net cash provided by operating activities | 29,169 |  | 13,908 |  | 10,776
Investing Activities |  |  |  |  |
Proceeds from sales of available-for-sale securities | — |  | — |  | 3,583
Investment in subsidiary | — |  | — |  | (60,000)
(Investment)/Return of principal - other investments | — |  | — |  | (2)
Net cash used in investing activities | — |  | — |  | (56,419)
Financing Activities |  |  |  |  |
Proceeds from issuance of subordinated notes | — |  | — |  | 73,472
Purchases of the Company’s common stock | (903) |  | — |  | —
Dividends paid | (15,819) |  | (12,894) |  | (12,232)
Stock options exercised | 2,224 |  | 3,247 |  | 2,110
Net cash provided by (used in) financing activities | (14,498) |  | (9,647) |  | 63,350
Increase in Cash | 14,671 |  | 4,261 |  | 17,707
Cash, Beginning of Year | 41,977 |  | 37,716 |  | 20,009
Cash, End of Year | $ 56,648 |  | $ 41,977 |  | $ 37,716
Additional Cash Payment Information |  |  |  |  |
Interest paid | $ 5,001 |  | $ 5,059 |  | $ 846
| 2018 |  | 2017 |  | 2016
| (In Thousands)
Statements of Comprehensive Income |  |  |  |  |
Net Income | $ 67,109 |  | $ 51,564 |  | $ 45,342
Unrealized appreciation on available-for-sale securities, net of taxes (credit) of $0, $0 and $(90), for 2018, 2017 and 2016, respectively | — |  | — |  | (158)
Reclassification adjustment for gains included in net income, net of taxes of $0, $0 and $(993), for 2018, 2017 and 2016, respectively | — |  | — |  | (1,742)
Change in fair value of cash flow hedge, net of taxes |  |  |  |  |
of $0, $93 and $50 for 2018, 2017 and |  |  |  |  |
2016, respectively | — |  | 161 |  | 87
Comprehensive income (loss) of subsidiaries | 8,114 |  | (478) |  | (2,293)
Comprehensive Income | $ 75,223 |  | $ 51,247 |  | $ 41,236

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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