Great Southern Gains St. Louis Deposits in Branch Purchase

Great Southern Bancorp (GSBC) in Springfield, Mo., reeled in more deposits and loans from a recent branch deal compared to what it had originally forecast.

The $3.6 billion-asset company said in a regulatory filing Thursday that it had completed the purchase of two branches from Boulevard Bank in Neosho, Mo. Great Southern said the deal also included $93 million in deposits and $11 million in loans.

Most of the deposits — about $60 million — are in Neosho, located about 170 miles south of Kansas City, Mo. Great Southern said it paid a 2% premium for about $48 million of those deposits. It bought $5 million in loans in Neosho at par value.

The transaction also included about $33 million in deposits in St. Louis that changed hands with "no significant premium," the filing said. The company also bought $6 million in commercial loans in St. Louis at par value.

Great Southern originally agreed to buy $65 million in deposits and $6 million in loans when it announced the branch deal in January.