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Great Western Bancorp posts higher fiscal Q4 net income

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Great Western Bancorp posts higher fiscal Q4 net income

Sioux Falls, S.D.-based Great Western Bancorp Inc. reported net income of $50.3 million, or 89 cents per share, for the fourth quarter of fiscal 2019, up from $42.3 million, or 72 cents per share, in the fiscal fourth quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 79 cents.

Total loans as of Sept. 30 stood at $9.71 billion, down from $9.89 billion as of June 30 but higher than $9.42 billion recorded a year ago.

Total deposits were $10.30 billion as of Sept. 30, up from $10.24 billion as of June 30 and $9.73 billion as of Sept. 30, 2018.

Great Western Bancorp's net interest margin for the fourth quarter of fiscal 2019 was 3.70%, same as in the linked quarter, but lower than 3.79% in the year-ago quarter.

Net charge-offs for the quarter amounted to $7.8 million, up from $5.2 million a year ago.

For fiscal 2019, Great Western Bancorp posted an adjusted net income of $167.4 million, or $2.92 per share, compared with $171.5 million, or $2.90 per share, in fiscal 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for fiscal 2019 was $2.82.