Howe Barnes Hoefer

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Howe Barnes Hoefer Arnett
13th Annual Bank Conference
Joseph W. Turner, President and CEO Rex
Copeland, Senior Vice President CFO August 19
20, 2008
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Forward Looking Information
When used in this presentation, filings by the
Company with the Securities and Exchange
Commission (the "SEC"), in the Company's press
releases or other public or shareholder
communications, and in oral statements made with
the approval of an authorized executive officer,
the words or phrases "will likely result" "are
expected to," "will continue," "is anticipated,"
"estimate," "project," "intends" or similar
expressions are intended to identify
"forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to certain
risks and uncertainties, including, among other
things, changes in economic conditions in the
Company's market area, changes in policies by
regulatory agencies, fluctuations in interest
rates, the risks of lending and investing
activities, including changes in the level and
direction of loan delinquencies and write-offs
and changes in estimates of the adequacy of the
allowance for loan losses, the Company's ability
to access cost-effective funding, fluctuations in
real estate values and both residential and
commercial real estate market conditions, demand
for loans and deposits in the Company's market
area and competition, that could cause actual
results to differ materially from historical
earnings and those presently anticipated or
projected. The Company wishes to advise readers
that the factors listed above could affect the
Company's financial performance and could cause
the Company's actual results for future periods
to differ materially from any opinions or
statements expressed with respect to future
periods in any current statements. The Company
does not undertake-and specifically declines any
obligation- to publicly release the result of any
revisions which may be made to any
forward-looking statements to reflect events or
circumstances after the date of such statements
or to reflect the occurrence of anticipated or
unanticipated events.
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Great Southern Bancorp Profile

• As of June 30, 2008
• Assets 2.5 billion
• Loans 1.8 billion
• Deposits 1.9 billion
• IPO Date Dec. 1989
• Headquarters Springfield, Mo.

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GSBC Stock ProfileAs of 8/13/08

• Nasdaq Global Select
• 146.5 million market cap
• 13.4 million shares outstanding
• 10.95 per share
• 12.73 tangible book value
• 0.72 annualized dividend
• 6.58 dividend yield
• 21.7 insider ownership

As of 6/30/08
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Great Southern Service Area

• 39 Banking Centers
• 185 ATMs
• 3 Loan Production Offices
• St. Louis Metro
• Kansas City Metro
• Northwest Arkansas

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Deposit Market Share - Missouri
Source SNL Financial FDIC Deposit Data
06/30/07
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Great Southern Market
Source SNL
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Source SNL Financial
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Managing Through the Current Cycle

• Priorities
• Capital Management
• Credit Quality/Pricing Discipline

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GSBC Capital Ratios
Total Risk-Based
Tier 1 Risk-Based
Well-Capitalized Regulatory Targets Tier 1
Leverage - 5 Tier 1 Risk-Based - 6 Total
Risk-Based - 10
Tier 1 Leverage
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At year-end 2003 to 2007 and 6/30/2008 and
07/31/2008
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• Loan Portfolio
• Asset Quality

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Portfolio Diversification6/30/08 Balance of
1,833,346 (000s)
Includes Home Equity Loans of 43,644
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Construction Land Development
CommitmentsFunded vs. Unfunded
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Non-Performing Loans by Type6/30/08 Balance of
32,860 (000s)
Includes Home Equity Loans of 227
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Non-Performing Assets/Loans
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Loan Loss Reserve to Total Loans
At year-end 2003 to 2007 and through 06/30/2008
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Asset Quality Ratios
Last six quarter results
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• Recent Results

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Second Quarter Results
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Second Quarter Highlights

• Total core deposits increased 28 million, or 3,
  from 12/31/07.
• Operating efficiency continued to improve with
  non-interest expense to average assets at 2.10
  versus 2.22 for first quarter 2008. Efficiency
  ratio was 48.43 as compared to 50.36 posted in
  the first quarter 2008.
• Net loans decreased 19 million, or 1, from
  12/31/07, primarily due to a reduction of 45
  million in construction and land development
  loans.
• Loan loss reserve increased 1.8 million from
  2007 year-end. Reserve to total loans was 1.49
  versus 1.38 at year-end.
• From year-end 2007, non-performing loans
  decreased 3 million and foreclosed assets
  increased 13 million as part of the credit
  resolution process.
• Total risk-based capital ratio increased to
  11.37 from 10.97 at 03/31/08.

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Looking AheadA Focus on the Fundamentals of
Banking
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Where Were Going

• Limited loan growth
• Credit quality resolution
• Internal capital generation
• Customer deposit acquisition/retention

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Why Great Southern?

• Positioned for long-term growth
• Strong capital and liquidity position
• Expanding retail banking franchise
• High percentage of insider ownership

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Dividend History
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Attractive Relative Value
As of Aug. 13, 2008
Source SNL Financial. Data as of Aug. 13,
2008. SNL Bank Index for banks with assets
between 1B to 5B.
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Questions Answers
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Thank You

• For more information
• Visit our Web site www.greatsouthernbank.com
• Sign up for e-mail notification to get the latest
  Great Southern news
• Call us with questions 417.895.5242

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Supplemental Information
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Loan Portfolio
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Loan Portfolio by Region6/30/08 Balance of
1,833,346 (000s)
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Commercial Real Estate Loan Portfolio6/30/08
Balance of 481,087 (000s)
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Construction Land Development6/30/08 Balance
of 640,276 (000s)
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Non-performing Loans by Region6/30/08 Balance of
32,860 (000s)
One Relationship - 2.7 million
One Relationship - 9.2 million
Four Relationships - 6.2 million
One Relationship - 2.6 million
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Asset Quality Ratios

Due to 2008 first half 36.6 million
charge-off one relationship, several loans
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Historical Information
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Assets
CAGR 10
CAGR 6.5 Years (01 to 6/08)
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Total Net Loans
CAGR 9
CAGR 6.5 Years (01 to 6/08)
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Deposits
1,861,832
CAGR 12
1,763,146
1,703,804
1,550,253
1,298,723
1,138,625
1,016,997
CAGR 6.5 Years (01 to 6/08)
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Composition of Deposits

Includes 139,136 of CDARS purchased funds and
75,631 of CDARS customer deposits.
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Committed Lines of Credit Availability

• Fed Funds Available Lines Approx. 75 million
  at 08/12/08

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Net Interest Margin - Operating
See GAAP Reconciliation at end of
presentation.
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Net Interest Income - Operating
CAGR 9
Non-Interest Income - Operating
CAGR 9
See GAAP Reconciliation at end of
presentation. CAGR 6 Years (01 to 07)
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Earnings - Operating
See GAAP Reconciliation at end of
presentation.
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Efficiency Ratio
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Overhead Ratio
(Non IE Non II)/Net II)
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Performance Measures
Return on Average Assets
Return on Average Equity
Source SNL Financial
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Supplemental Financial Information
Certain financial results in this presentation
are operating (non-GAAP) numbers and exclude the
effects of the Companys accounting for interest
rate swaps. Reconciliations of operating results
to GAAP results are included in this financial
supplement. More information regarding the
restatement can be found in reports filed by the
Company with the SEC.
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Non-Interest Income and Non-GAAP
Reconciliation (Dollars in Thousands)
Net Interest Income and Non-GAAP
Reconciliation (Dollars in Thousands)
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Net Income (Loss) and Diluted Earnings Per Share
(EPS) and Non-GAAP Reconciliation (Dollars in
Thousands)
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Net Interest Income/Margin and Non-GAAP
Reconciliation (Dollars in Thousands)
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