Great Western earnings up as bank plans to enter new markets

July 26, 2018

Earnings for Great Western Bancorp Inc. increased 31 percent year-over-year for its fiscal third quarter, the company announced today.

Net income was $45.9 million, or 78 cents per share, compared with $35.1 million, or 59 cents per share, for the same time last year.

“It is pleasing to see another quarter of solid earnings, stable asset quality and strong profitability,” said Ken Karels, chairman, president and CEO.

Total loans increased by $41.5 million, bringing the year-to-date total to $411.3 million, a year-over-year increase of 4.6 percent.

Total deposits have increased by $607.7 million, or 6.8 percent, year to date.

“We remain positive looking ahead to the last quarter of our 2018 fiscal year. Loan demand is solid, and we remain confident loan growth will be in the mid to high single-digit range for the full fiscal year,” Karels said. “We also have had continued success in recruiting new talent to the company and look forward to entering a number of new markets during the next 12 months.”

Great Western Bank serves customers through more than 170 branches in nine states: Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.

Great Western earnings up as bank plans to enter new markets

Great Western Bancorp Inc. earnings increased 31 percent year-over-year for its fiscal third quarter, the company announced today.

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