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Regulatory Matters

12 Months Ended

Dec. 31, 2023

Note 23: Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct and material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under GAAP, regulatory reporting practices, and regulatory capital standards. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulatory reporting standards to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below as of December 31, 2023) of Total and Tier I Capital (as defined) to risk-weighted assets (as defined), of Tier I Capital (as defined) to adjusted tangible assets (as defined) and of Common Equity Tier 1 Capital (as defined) to risk-weighted assets (as defined). Management believes, as of December 31, 2023, that the Bank met all capital adequacy requirements to which it was then subject.

As of December 31, 2023, the most recent notification from the Bank’s regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized as of December 31, 2023, the Bank must have maintained minimum Total capital, Tier I capital, Tier 1 Leverage capital and Common Equity Tier 1 capital ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category.

The Company and the Bank are subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval. At December 31, 2023 and 2022, the Company and the Bank exceeded their minimum capital requirements then in effect. The entities may not pay dividends which would reduce capital below the minimum requirements shown below. In addition to the minimum capital ratios, the capital rules include a capital conservation buffer, under which a banking organization must have Common Equity Tier 1 capital more than 2.5% above each of its minimum risk-based capital ratios in order to avoid restrictions on paying dividends, repurchasing shares, and paying certain discretionary bonuses. The net unrealized gain or loss on securities is not included in computing regulatory capital.

The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table. No amount was deducted from capital for interest-rate risk.


									To Be Well
									Capitalized Under
					For Capital				Prompt Corrective
	Actual				Adequacy Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio

	(Dollars In Thousands)
As of December 31, 2023
Total capital
Great Southern Bancorp, Inc.	$	770,885	15.2	%	$	406,994	8.0	%		N/A	N/A
Great Southern Bank	$	728,113	14.3	%	$	406,744	8.0	%	$	508,430	10.0	%

Tier I capital
Great Southern Bancorp, Inc.	$	632,279	12.4	%	$	305,246	6.0	%		N/A	N/A
Great Southern Bank	$	664,545	13.1	%	$	305,058	6.0	%	$	406,744	8.0	%

Tier I leverage capital
Great Southern Bancorp, Inc.	$	632,279	11.0	%	$	229,992	4.0	%		N/A	N/A
Great Southern Bank	$	664,545	11.6	%	$	229,692	4.0	%	$	287,115	5.0	%

Common equity Tier I capital
Great Southern Bancorp, Inc.	$	607,279	11.9	%	$	228,934	4.5	%		N/A	N/A
Great Southern Bank	$	664,545	13.1	%	$	228,794	4.5	%	$	330,480	6.5	%

As of December 31, 2022
Total capital
Great Southern Bancorp, Inc.	$	746,287	13.5	%	$	440,767	8.0	%		N/A	N/A
Great Southern Bank	$	721,616	13.1	%	$	440,683	8.0	%	$	550,854	10.0	%

Tier I capital
Great Southern Bancorp, Inc.	$	607,807	11.0	%	$	330,575	6.0	%		N/A	N/A
Great Southern Bank	$	658,136	11.9	%	$	330,512	6.0	%	$	440,683	8.0	%

Tier I leverage capital
Great Southern Bancorp, Inc.	$	607,807	10.6	%	$	228,673	4.0	%		N/A	N/A
Great Southern Bank	$	658,136	11.5	%	$	228,511	4.0	%	$	285,638	5.0	%

Common equity Tier I capital
Great Southern Bancorp, Inc.	$	582,807	10.6	%	$	247,932	4.5	%		N/A	N/A
Great Southern Bank	$	658,136	11.9	%	$	247,884	4.5	%	$	358,055	6.5	%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

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