GREAT SOUTHERN BANCORP, INC. - Annual Report: 2014 (Form 10-K)

Maryland	43-1524856
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
1451 E. Battlefield, Springfield, Missouri	65804
(Address of principal executive offices)	(Zip Code)

(417) 887-4400

Registrant's telephone number, including area code

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	The NASDAQ Stock Market LLC

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.	Yes [  ]   No [X]
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.	Yes [  ]   No [X]
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.	Yes [X]  No [  ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).	Yes [X]  No [  ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [  ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "accelerated filer," "large accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer [  ]       Accelerated filer [X]       Non-accelerated filer [  ](Do not check if a smaller reporting company) Smaller reporting company [   ]
Indicated by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).	Yes [  ]   No [X]
The aggregate market value of the common stock of the registrant held by non-affiliates of the Registrant on June 30, 2014, computed by reference to the closing price of such shares on that date, was $331,658,432.  At March 3, 2015, 13,772,851 shares of the Registrant's common stock were outstanding.

			Page
ITEM 1.	BUSINESS		1
ITEM 1A.	RISK FACTORS		54
ITEM 1B.	UNRESOLVED STAFF COMMENTS		64
ITEM 2.	PROPERTIES.		64
ITEM 3.	LEGAL PROCEEDINGS.		65
ITEM 4.	MINE SAFETY DISCLOSURES.		65
ITEM 4A.	EXECUTIVE OFFICERS OF THE REGISTRANT.		65
ITEM 5.	MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES		66
ITEM 6.	SELECTED CONSOLIDATED FINANCIAL DATA		67
ITEM 7.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION		70
ITEM 7A.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		102
ITEM 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION		106

ITEM 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE		204
ITEM 9A.	CONTROLS AND PROCEDURES.		204
ITEM 9B.	OTHER INFORMATION.		206
ITEM 10.	DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.		207
ITEM 11.	EXECUTIVE COMPENSATION.		207
ITEM 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS		207
ITEM 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.		207
ITEM 14.	PRINCIPAL ACCOUNTANT FEES AND SERVICES.		208
ITEM 15.	EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.		209

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Real Estate Loans:
One- to four- family(1)		$	245,180				8.3	%		$	242,281				10.5	%		$	256,146				12.7	%		$	266,694				14.0	%		$	257,261				15.1	%
Other residential			392,415				13.2				325,599				14.2				267,518				13.2				243,743				12.8				207,059				12.2
Commercial(2)			986,936				33.3				822,920				35.8				736,139				36.4				699,607				36.7				599,025				35.2
Residential construction:
One- to four- family			49,631				1.7				47,308				2.1				52,249				2.5				78,900				4.1				106,128				6.2
Other residential			59,664				2.0				32,988				1.4				27,556				1.4				27,826				1.5				10,000				0.6
Commercial			404,683				13.7				236,635				10.3				198,145				9.8				166,749				8.8				163,214				9.6
Total real estate loans			2,138,509				72.2				1,707,731				74.3				1,537,753				76.0				1,483,519				77.9				1,342,687				78.9
Other Loans:
Consumer loans:
Automobile, boat, etc.			400,392				13.5				215,778				9.4				164,748				8.1				135,480				7.1				124,441				7.3
Home equity and improvement			66,275				2.2				58,297				2.5				54,317				2.7				47,395				2.5				47,534				2.8
Other			987				0.1				1,184				0.1				1,585				0.1				1,147				0.1				1,184				0.1
Total consumer loans			467,654				15.8				275,259				12.0				220,650				10.9				184,022				9.7				173,159				10.2
Other commercial loans			354,012				12.0				315,269				13.7				264,631				13.1				236,384				12.4				185,880				10.9
Total other loans			821,666				27.8				590,528				25.7				485,281				24.0				420,406				22.1				359,039				21.1
Total loans			2,960,175				100.0	%			2,298,259				100.0	%			2,023,034				100.0	%			1,903,925				100.0	%			1,701,726				100.0	%
Less:
Loans in process			323,572								194,544								157,574								103,424								63,108
Deferred fees and discounts			3,276								2,994								2,192								2,726								2,541
Allowance for loan losses			36,300								40,116								40,649								41,232								41,487
Total legacy loans receivable, net		$	2,597,027							$	2,060,605							$	1,822,619							$	1,756,543							$	1,594,590

(1)	Includes loans held for sale.
(2)	Total commercial real estate loans included industrial revenue bonds of $41.1 million, $42.2 million, $43.8 million, $59.8 million and $64.6 million at December 31, 2014, 2013, 2012, 2011 and 2010, respectively.

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	12,293				28.0	%		$	15,050				28.1	%		$	19,610				22.6	%		$	25,119				15.1	%		$	32,645				14.7	%
Other residential			1,083				2.5				1,163				2.2				4,520				5.2				6,286				3.8				6,947				3.2
Commercial(1)			21,207				48.3				24,682				46.1				41,471				47.8				89,354				53.8				98,147				44.3
Construction			5,257				12.0				6,996				13.0				12,670				14.7				28,582				17.3				55,594				25.1
Total real estate loans			39,840				90.8				47,891				89.4				78,271				90.3				149,341				90.0				193,333				87.3
Other Loans:
Consumer loans:
Home equity and       improvement			3,282				7.5				4,190				7.8				4,989				5.8				5,720				3.4				6,708				3.0
Other			64				0.2				73				0.2				159				0.1				446				0.3				1,029				0.5
Total consumer loans			3,346				7.7				4,263				8.0				5,148				5.9				6,166				3.7				7,737				3.5
Other commercial loans			674				1.5				1,404				2.6				3,243				3.8				10,496				6.3				20,409				9.2
Total other loans			4,020				9.2				5,667				10.6				8,391				9.7				16,662				10.0				28,146				12.7
Total loans(2)			43,860				100.0	%			53,558				100.0	%			86,662				100.0	%			166,003				100.0	%			221,479				100.0	%
Less:
Loans in process			5								5								5								1,719								2,190
Allowance for loan losses			415								—								—								—								—
Fair value discounts			2,295								3,691								9,042								35,409								74,656
Total Team Bank, N.A. loans receivable, net		$	41,145							$	49,862							$	77,615							$	128,875							$	144,633

(1)	Total commercial real estate loans included industrial revenue bonds of $2.0 million, $2.1 million, $2.3 million, $2.5 million and $3.0 million at December 31, 2014, 2013, 2012, 2011 and 2010, respectively.
(2)	At December 31, 2014, total loans included $28.3 million of non-single-family loans which are no longer covered by the FDIC loss sharing agreement.

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	13,843				32.8	%		$	18,999				31.7	%		$	26,160				24.7	%		$	38,011				25.4	%		$	54,492				26.2	%
Other residential			2,535				6.0				6,423				10.7				15,434				14.6				18,610				12.5				19,068				9.1
Commercial(1)			11,865				28.2				15,421				25.7				35,431				33.5				48,552				32.5				69,275				33.3
Construction			284				0.7				319				0.5				1,552				1.5				4,613				3.0				10,859				5.2
Total real estate loans			28,527				67.7				41,162				68.6				78,577				74.3				109,786				73.4				153,694				73.8
Other Loans:
Consumer loans:
Student loans			543				1.3				510				0.9				512				0.5				505				0.3				1,276				0.6
Home equity and       improvement			5,104				12.1				5,845				9.7				7,270				6.9				8,460				5.7				9,793				4.7
Other			7,196				17.1				10,182				17.0				14,434				13.6				20,756				13.9				28,890				13.9
Total consumer loans			12,843				30.5				16,537				27.6				22,216				21.0				29,721				19.9				39,959				19.2
Other commercial loans			768				1.8				2,315				3.8				4,967				4.7				9,963				6.7				14,510				7.0
Total other loans			13,611				32.3				18,852				31.4				27,183				25.7				39,684				26.6				54,469				26.2
Total loans(2)			42,138				100.0	%			60,014				100.0	%			105,760				100.0	%			149,470				100.0	%			208,163				100.0	%
Less:
Loans in process			—								3								1,851								255								83
Allowance for loan losses			398								—								—								—								—
Fair value discounts			1,141								2,091								8,426								26,179								47,917
Total Vantus Bank loans receivable, net		$	40,599							$	57,920							$	95,483							$	123,036							$	160,163

(1)	Total commercial real estate loans included industrial revenue bonds of $1.6 million, $1.8 million, $2.0 million, $3.0 million and $5.7 million at December 31, 2014, 2013, 2012, 2011 and 2010, respectively.
(2)	At December 31, 2014, total loans included $23.2 million of non-single-family loans which are no longer covered by the FDIC loss sharing agreement.

		December 31,
		2014								2013								2012								2011
		Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	32,529				54.5	%		$	41,529				52.8	%		$	55,422				43.5	%		$	70,847				32.6	%
Other residential			4,972				8.3				5,488				7.0				6,615				5.2				17,714				8.1
Commercial(1)			20,216				33.8				27,426				34.9				45,267				35.5				62,157				28.6
Construction			368				0.6				1,273				1.5				4,471				3.5				34,619				15.9
Total real estate loans			58,085				97.2				75,716				96.2				111,775				87.7				185,337				85.2
Other Loans:
Consumer loans:
Home equity and       improvement			364				0.6				425				0.5				1,291				1.0				—				—
Other			67				0.1				433				0.6				904				0.7				3,690				1.7
Total consumer loans			431				0.7				858				1.1				2,195				1.7				3,690				1.7
Other commercial loans			1,276				2.1				2,124				2.7				13,448				10.6				28,522				13.1
Total other loans			1,707				2.8				2,982				3.8				15,643				12.3				32,212				14.8
Total loans			59,792				100.0	%			78,698				100.0	%			127,418				100.0	%			217,549				100.0	%
Less:
Loans in process			175								174								485								—
Allowance for loan losses			918								—								—								—
Fair value discounts			7,451								13,681								35,414								72,923
Total Sun Security Bank loans receivable, net		$	51,248							$	64,843							$	91,519							$	144,626

(1)	Total commercial real estate loans included industrial revenue bonds of $207,000, $292,000, $373,000 and $574,000, at December 31, 2014, 2013, 2012 and 2011, respectively.

		December 31,
		2014								2013								2012
		Amount				%				Amount				%				Amount				%
		(Dollars in Thousands)
Real Estate Loans:
Residential
One- to four- family		$	157,770				64.4	%		$	179,574				63.0	%		$	215,768				60.5	%
Other residential			22,624				9.3				29,517				10.5				45,879				12.9
Commercial(1)			21,821				8.9				27,530				9.8				33,202				9.3
Construction			745				0.3				612				—				134				—
Total real estate loans			202,960				82.9				237,233				83.3				294,983				82.7
Other Loans:
Consumer loans:
Home equity and improvement			41,923				17.1				47,675				16.7				61,752				17.3
Other			32				—				4				—				41				—
Total consumer loans			41,955				17.1				47,679				16.7				61,793				17.3
Other commercial loans			64				—				65				—				70				—
Total other loans			42,019				17.1				47,744				16.7				61,863				17.3
Total loans			244,979				100.0	%			284,977				100.0	%			356,846				100.0	%
Less:
Loans in process			2								2								2
Allowance for loan losses			1								—								—
Fair value discounts			43,147								71,436								97,612
Total InterBank loans receivable, net		$	201,829							$	213,539							$	259,232

		December 31,
		2014
		Amount				%
		(Dollars in Thousands)
Real Estate Loans:
Residential
One- to four- family		$	39,664				27.1	%
Other residential			22,700				15.5
Commercial(1)			44,170				30.2
Construction			13,670				9.4
Total real estate loans			120,204				82.2
Other Loans:
Consumer loans:
Home equity and improvement			1,763				1.2
Other			1,949				1.3
Total consumer loans			3,712				2.5
Other commercial loans			22,378				15.3
Total other loans			26,090				17.8
Total loans			146,294				100.0	%
Less:
Loans in process			449
Allowance for loan losses			403
Fair value discounts			23,863
Total Valley Bank  loans receivable, net		$	121,579

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Fixed-Rate Loans:
Real Estate Loans
One- to four- family		$	102,780				3.5	%		$	94,566				4.1	%		$	103,442				5.1	%		$	127,736				6.7	%		$	109,703				6.5	%
Other residential			273,701				9.2				209,008				9.1				146,661				7.2				129,505				6.8				118,727				7.0
Commercial			453,153				15.3				397,618				17.2				330,196				16.3				321,226				16.9				255,678				15.0
Residential construction:
One- to four- family			17,753				0.6				17,270				0.8				18,024				0.9				28,177				1.4				27,168				1.6
Other residential			9,950				0.3				2,162				0.1				7,716				0.4				1,078				0.1				2,450				0.1
Commercial construction			285,623				9.7				156,142				6.8				126,756				6.3				88,671				4.7				76,383				4.5
Total real estate loans			1,142,960				38.6				876,766				38.1				732,795				36.2				696,393				36.6				590,109				34.7
Consumer			396,412				13.4				215,628				9.4				166,520				8.2				137,045				7.2				126,636				7.4
Other commercial			197,635				6.7				189,899				8.3				131,523				6.5				100,107				5.2				74,206				4.4
Total fixed-rate loans			1,737,007				58.7				1,282,293				55.8				1,030,838				50.9				933,545				49.0				790,951				46.5
Adjustable-Rate Loans:
Real Estate Loans
One- to four- family			142,400				4.8				147,715				6.4				152,704				7.5				138,958				7.3				147,558				8.7
Other residential			118,714				4.0				116,591				5.1				120,857				6.0				114,238				6.0				88,332				5.2
Commercial			533,783				18.0				425,302				18.5				405,943				20.1				378,381				19.9				343,347				20.2
Residential construction:
One- to four- family			31,878				1.1				30,038				1.3				34,225				1.7				50,723				2.6				78,960				4.6
Other residential			49,714				1.7				30,826				1.3				19,840				1.0				26,748				1.4				7,550				0.4
Commercial construction			119,060				4.0				80,493				3.5				71,389				3.5				78,078				4.1				86,831				5.1
Total real estate loans			995,549				33.6				830,965				36.1				804,958				39.8				787,126				41.3				752,578				44.2
Consumer			71,242				2.4				59,631				2.6				54,130				2.7				46,977				2.5				46,523				2.7
Other commercial			156,377				5.3				125,370				5.5				133,108				6.6				136,277				7.2				111,674				6.6
Total adjustable-rate loans			1,223,168				41.3				1,015,966				44.2				992,196				49.1				970,380				51.0				910,775				53.5
Total Loans			2,960,175				100.0	%			2,298,259				100.0	%			2,023,034				100.0	%			1,903,925				100.0	%			1,701,726				100.0	%
Less:
Loans in process			323,572								194,544								157,574								103,424								63,108
Deferred fees and discounts			3,276								2,994								2,192								2,726								2,541
Allowance for loan losses			36,300								40,116								40,649								41,232								41,487
Total legacy loans receivable, net		$	2,597,027							$	2,060,605							$	1,822,619							$	1,756,543							$	1,594,590

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Fixed-Rate Loans:
Real Estate Loans
One- to four- family		$	2,585				5.9	%		$	3,596				6.7	%		$	5,420				6.3	%		$	7,739				4.7	%		$	11,943				5.4	%
Other residential			989				2.3				1,012				1.9				3,902				4.5				5,288				3.2				5,330				2.4
Commercial			5,114				11.7				4,854				9.1				17,125				19.8				53,344				32.1				52,018				23.5
Construction			413				0.9				1,346				2.5				2,637				3.0				14,631				8.8				26,992				12.2
Total real estate loans			9,101				20.8				10,808				20.2				29,084				33.6				81,002				48.8				96,283				43.5
Consumer			41				0.1				73				0.1				159				0.2				444				0.3				1,021				0.5
Other commercial			264				0.5				668				1.3				1,557				1.8				4,897				2.9				9,751				4.4
Total fixed-rate loans			9,406				21.4				11,549				21.6				30,800				35.6				86,343				52.0				107,055				48.4
Adjustable-Rate Loans:
Real Estate Loans
One- to four- family			9,708				22.1				11,454				21.4				14,189				16.4				17,380				10.5				20,702				9.3
Other residential			94				0.2				151				0.3				618				0.7				998				0.6				1,617				0.7
Commercial			16,093				36.6				19,828				37.0				24,346				28.1				36,011				21.7				49,088				22.2
Construction			4,844				11.1				5,650				10.5				10,034				11.5				13,951				8.4				28,602				12.9
Total real estate loans			30,739				70.0				37,083				69.2				49,187				56.7				68,340				41.2				100,009				45.1
Consumer			3,305				7.6				4,190				7.8				4,989				5.8				5,722				3.4				6,716				3.0
Other commercial			410				1.0				736				1.4				1,686				1.9				5,598				3.4				7,699				3.5
Total adjustable-rate loans			34,454				78.6				42,009				78.4				55,862				64.4				79,660				48.0				114,424				51.6
Total Loans			43,860				100.0	%			53,558				100.0	%			86,662				100.0	%			166,003				100.0	%			221,479				100.0	%
Less:
Loans in process			5								5								5								1,719								2,190
Allowance for loan losses			415								—								—								—								—
Fair value discounts			2,295								3,691								9,042								35,409								74,656
Total loans receivable, net		$	41,145							$	49,862							$	77,615							$	128,875							$	144,633

		December 31,
		2014								2013								2012								2011								2010
		Amount				%				Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Fixed-Rate Loans:
Real Estate Loans
One- to four- family		$	6,427				15.2	%		$	9,204				15.3	%		$	13,111				12.4	%		$	22,134				14.8	%		$	35,384				17.0	%
Other residential			1,508				3.6				4,783				8.0				7,542				7.1				6,477				4.3				6,885				3.3
Commercial			3,982				9.4				4,773				8.0				13,136				12.4				22,744				15.2				33,505				16.1
Construction			264				0.7				288				0.5				792				0.7				581				0.4				3,204				1.5
Total real estate loans			12,181				28.9				19,048				31.8				34,581				32.6				51,936				34.7				78,978				37.9
Consumer			7,739				18.4				10,692				17.8				14,941				14.1				21,083				14.1				29,093				2.4
Other commercial			227				0.5				742				1.2				2,097				2.0				3,454				2.3				5,089				14.0
Total fixed-rate loans			20,147				47.8				30,482				50.8				51,619				48.7				76,473				51.1				113,160				54.3
Adjustable-Rate Loans:
Real Estate Loans
One- to four- family			7,416				17.6				9,795				16.3				13,049				12.3				15,876				10.6				19,109				9.2
Other residential			1,027				2.4				1,640				2.7				7,892				7.5				12,133				8.1				12,183				5.9
Commercial			7,883				18.8				10,648				17.7				22,295				21.1				25,808				17.3				35,770				17.2
Construction			20				—				31				0.1				760				0.8				4,031				2.7				7,655				3.7
Total real estate loans			16,346				38.8				22,114				36.8				43,996				41.7				57,848				38.7				74,717				36.0
Consumer			5,104				12.1				5,845				9.7				7,275				6.9				8,639				5.8				10,866				5.2
Other commercial			541				1.3				1,573				2.7				2,870				2.7				6,510				4.4				9,420				4.5
Total adjustable-rate loans			21,991				52.2				29,532				49.2				54,141				51.3				72,997				48.9				95,003				45.7
Total Loans			42,138				100.0	%			60,014				100.0	%			105,760				100.0	%			149,470				100.0	%			208,163				100.0	%
Less:
Loans in process			—								3								1,851								255								83
Allowance for loan losses			398								—								—								—								—
Fair value discounts			1,141								2,091								8,426								26,179								47,917
Total loans receivable, net		$	40,599							$	57,920							$	95,483							$	123,036							$	160,163

		December 31,
		2014								2013								2012								2011
		Amount				%				Amount				%				Amount				%				Amount				%
		(Dollars In Thousands)
Fixed-Rate Loans:
Real Estate Loans:
One- to four- family		$	25,490				42.7	%		$	33,335				42.4	%		$	45,667				35.8	%		$	66,635				30.6	%
Other residential			1,063				1.8				1,468				1.9				2,491				2.0				16,790				7.7
Commercial			16,786				28.1				22,171				28.2				36,759				28.8				57,576				26.5
Construction			368				0.6				637				0.7				2,714				2.2				25,191				11.6
Total real estate loans			43,707				73.2				57,611				73.2				87,631				68.8				166,192				76.4
Consumer loans			394				0.7				798				1.0				2,042				1.6				3,690				1.7
Other commercial loans			953				1.6				1,781				2.3				7,875				6.2				20,737				9.5
Total fixed-rate loans			45,054				75.5				60,190				76.5				97,548				76.6				190,619				87.6
Adjustable-Rate Loans:
Real Estate Loans:
One- to four- family			7,039				11.8				8,194				10.4				9,755				7.7				4,212				1.9
Other residential			3,909				6.5				4,020				5.1				4,124				3.2				690				0.3
Commercial			3,430				5.7				5,255				6.7				8,508				6.7				4,816				2.2
Construction			—				—				636				0.8				1,757				1.3				9,427				4.4
Total real estate loans			14,378				24.0				18,105				23.0				24,144				18.9				19,145				8.8
Consumer loans			37				—				60				0.1				153				0.1				—				—
Other commercial loans			323				0.5				343				0.4				5,573				4.4				7,785				3.6
Total adjustable-rate loans			14,738				24.5				18,508				23.5				29,870				23.4				26,930				12.4
Total loans			59,792				100.0	%			78,698				100.0	%			127,418				100.0	%			217,549				100.0	%
Less:
Loans in process			175								174								485								—
Allowance for loan losses			918								—								—								—
Fair value discounts			7,451								13,681								35,414								72,923
Total Sun Security Bank loans receivable, net		$	51,248							$	64,843							$	91,519							$	144,626

		December 31, 2014								December 31, 2013								December 31, 2012
		Amount				%				Amount				%				Amount				%
		(Dollars in Thousands)
Fixed-Rate Loans:
Real Estate Loans
One- to four- family		$	65,863				26.9	%		$	77,181				27.1	%		$	88,573				24.8	%
Other residential			2,187				0.9				3,059				1.1				4,866				1.4
Commercial			1,118				0.5				997				0.3				2,049				0.6
Construction			630				0.2				489				0.2				—				0.0
Total real estate loans			69,798				28.5				81,726				28.7				95,488				26.8
Consumer loans			596				0.2				846				0.3				673				0.2
Other commercial loans			—				0.0				—				0.0				4				0.0
Total fixed-rate loans			70,394				28.7				82,572				29.0				96,165				27.0
Adjustable-Rate Loans:
Real Estate Loans
One- to four- family			91,907				37.5				102,393				35.9				127,195				35.6
Other residential			20,437				8.4				26,458				9.3				41,014				11.5
Commercial			20,703				8.4				26,533				9.3				31,153				8.8
Construction			115				0.1				123				0.1				133				0.0
Total real estate loans			133,162				54.4				155,507				54.6				199,495				55.9
Consumer loans			41,359				16.9				46,833				16.4				61,120				17.1
Other commercial loans			64				0.0				65				0.0				66				0.0
Total adjustable-rate loans			174,585				71.3				202,405				71.0				260,681				73.0
Total loans			244,979				100.0	%			284,977				100.0	%			356,846				100.0	%
Less:
Loans in process			2								2								2
Allowance for loan losses			1								—								—
Fair value discounts			43,147								71,436								97,612
Total InterBank loans receivable, net		$	201,829							$	213,539							$	259,232

		December 31,
		2014
		Amount				%
		(Dollars in Thousands)
Fixed-Rate Loans:
Real Estate Loans:
One- to four- family		$	28,304				19.3	%
Other residential			18,503				12.6
Commercial			27,055				18.5
Construction			11,093				7.8
Total real estate loans			84,955				58.2
Consumer loans			2,024				1.4
Other commercial loans			10,652				7.3
Total fixed-rate loans			97,631				66.9
Adjustable-Rate Loans:
Real Estate Loans:
One- to four- family			11,360				7.8
Other residential			4,197				2.9
Commercial			17,115				11.7
Construction			2,577				1.6
Total real estate loans			35,249				24.0
Consumer loans			1,688				1.1
Other commercial loans			11,726				8.0
Total adjustable-rate loans			48,663				33.1
Total loans			146,294				100.0	%
Less:
Loans in process			449
Allowance for loan losses			403
Fair value discounts			23,863
Total Valley Bank loans receivable, net		$	121,579

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	25,303			$	97,207			$	122,670			$	245,180
Other residential			91,097				256,145				45,173				392,415
Commercial			174,469				626,888				185,579				986,936
Residential construction:
One- to four- family			38,132				11,003				496				49,631
Other residential			212				50,143				9,309				59,664
Commercial construction			286,272				105,635				12,776				404,683
Total real estate loans			615,485				1,147,021				376,003				2,138,509
Other Loans:
Consumer loans:
Automobile and other			29,985				187,222				184,172				401,379
Home equity and improvement			8,162				15,784				42,329				66,275
Total consumer loans			38,147				203,006				226,501				467,654
Other commercial loans			135,113				127,188				91,711				354,012
Total other loans			173,260				330,194				318,212				821,666
Total legacy loans		$	788,745			$	1,477,215			$	694,215			$	2,960,175

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	777			$	1,657			$	9,859			$	12,293
Other residential			2				1,081				—				1,083
Commercial			1,001				5,860				14,346				21,207
Construction			345				3,890				1,022				5,257
Total real estate loans			2,125				12,488				25,227				39,840
Other Loans:
Consumer loans:
Home equity and improvement			539				2,743				—				3,282
Automobile and other			3				61				—				64
Total consumer loans			542				2,804				—				3,346
Other commercial loans			451				180				43				674
Total other loans			993				2,984				43				4,020
Total loans		$	3,118			$	15,472			$	25,270			$	43,860

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	1,310			$	3,662			$	8,871			$	13,843
Other residential			901				607				1,027				2,535
Commercial			1,210				3,196				7,459				11,865
Construction			9				209				66				284
Total real estate loans			3,430				7,674				17,423				28,527
Other Loans:
Consumer loans:
Student loans			543				—				—				543
Home equity and improvement			—				105				4,999				5,104
Automobile and other			64				1,710				5,422				7,196
Total consumer loans			607				1,815				10,421				12,843
Other commercial loans			171				597				—				768
Total other loans			778				2,412				10,421				13,611
Total loans		$	4,208			$	10,086			$	27,844			$	42,138

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	4,408			$	14,612			$	13,509			$	32,529
Other residential			3,335				1,637				—				4,972
Commercial			13,444				5,159				1,613				20,216
Construction			270				72				26				368
Total real estate loans			21,457				21,480				15,148				58,085
Other Loans:
Consumer loans:
Home equity and improvement			335				29				—				364
Automobile and other			23				33				11				67
Total consumer loans			358				62				11				431
Other commercial loans			848				428				—				1,276
Total other loans			1,206				490				11				1,707
Total loans		$	22,663			$	21,970			$	15,159			$	59,792

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	3,815			$	21,333			$	132,622			$	157,770
Other residential			14,184				8,398				42				22,624
Commercial			7,904				13,917				—				21,821
Construction			368				262				115				745
Total real estate loans			26,271				43,910				132,779				202,960
Other Loans:
Consumer loans:
Home equity and improvement			780				10,962				30,181				41,923
Automobile and other			—				1				31				32
Total consumer loans			780				10,963				30,212				41,955
Other commercial loans			—				—				64				64
Total other loans			780				10,963				30,276				42,019
Total loans		$	27,051			$	54,873			$	163,055			$	244,979

	Less Than One Year					One to Five Years				After Five Years				Total
	(In Thousands)
Real Estate Loans:
Residential
One- to four- family		$	10,427			$	18,137			$	11,100			$	39,664
Other residential			5,698				4,392				12,610				22,700
Commercial			11,021				29,732				3,417				44,170
Construction			10,293				3,377				—				13,670
Total real estate loans			37,439				55,638				27,127				120,204
Other Loans:
Consumer loans:
Home equity and improvement			259				—				1,504				1,763
Automobile and other			162				889				898				1,949
Total consumer loans			421				889				2,402				3,712
Other commercial loans			11,435				10,504				439				22,378
Total other loans			11,856				11,393				2,841				26,090
Total loans		$	49,295			$	67,031			$	29,968			$	146,294

Collateral Type	Loan Balance	Percentage of Total Loan Portfolio	Non-Performing Loans at December 31, 2014
	(Dollars In Thousands)
Retail (Varied Projects)	$373,785	12.7%	$       0
Office Industry	$188,285	6.4%	$2,034
Health Care Facilities	$128,116	4.4%	$       0
Warehouses	$116,163	3.9%	$       0
Motels/Hotels	$107,659	3.7%	$       0

		December 31, 2014
Asset Category		Substandard				Doubtful				Loss				Total Classified				Allowance for Losses
		(In Thousands)
Investment securities		$	—			$	—			$	—			$	—			$	—
Loans			34,280				—				—				34,280				5,142
Foreclosed assets			35,541				—				—				35,541				—
Total		$	69,821			$	—			$	—			$	69,821			$	5,142

		December 31, 2013
Asset Category		Substandard				Doubtful				Loss				Total Classified				Allowance for Losses
		(In Thousands)
Investment securities		$	—			$	—			$	—			$	—			$	—
Loans			46,273				2,398				—				48,671				7,444
Foreclosed assets			42,145				—				—				42,145				—
Total		$	88,418			$	2,398			$	—			$	90,816			$	7,444

	December 31,
	2014					2013				2012				2011				2010
	(In Thousands)
Non-accruing loans:
One- to four-family residential		$	1,155			$	3,506			$	4,020			$	7,273			$	5,555
One- to four-family construction			—				—				—				186				578
Other residential			—				—				—				—				4,203
Commercial real estate			4,512	(1)			6,205	(2)			8,324	(3)			6,204	(4)			6,074	(5)
Other commercial			411				7,231	(6)			6,249	(7)			3,472				3,832
Commercial construction			255				1,209				2,474				9,316	(8)			7,528	(9)
Consumer			1,038				1,147				699				640				1,063
Total gross non-accruing loans			7,371				19,298				21,766				27,091				28,833
Loans over 90 days delinquent    still accruing interest:
One- to four-family residential			170				351				237				40				—
Commercial real estate			187				—				—				—				—
Other commercial			—				—				—				—				—
Commercial construction			—				—				—				—				—
Consumer			419				257				475				366				587
Total loans over 90 days delinquent    still accruing interest			776				608				712				406				587
Other impaired loans			—				—				—				—				—
Total gross non-performing loans			8,147				19,906				22,478				27,497				29,420
Foreclosed assets:
One- to four-family residential			3,353				744				1,200				1,849				2,896
One- to four-family construction			223				600				627				1,630				2,510
Other residential			2,625				5,900				7,232				7,853				4,178
Commercial real estate			1,632				3,135				2,738				2,290				4,565
Commercial construction			27,025				30,972				37,716				31,954				34,433
Other commercial			59				79				160				85				—
Total foreclosed assets			34,917				41,430				49,673				45,661				48,582
Repossessions			624				715				471				1,211				318
Total gross non-performing assets		$	43,688			$	62,051			$	72,622			$	74,369			$	78,320
Total gross non-performing assets as a   percentage of average total assets			1.14	%			1.64	%			1.81	%			2.13	%			2.30	%

(1)	The largest two relationships in this category were $2.0 million and $1.9 million, respectively, at December 31, 2014.
(2)	One relationship was $4.1 million of this total at December 31, 2013.
(3)	One relationship was $3.7 million of this total at December 31, 2012.
(4)	The largest loan in this category had a balance of $2.5 million at December 31, 2011.
(5)	The largest two loans in this category were $1.4 million and $1.0 million, respectively, at December 31, 2010.
(6)	One relationship was $2.7 million of this total at December 31, 2013.
(7)	One relationship was $2.6 million of this total at December 31, 2012.
(8)	One relationship was $3.6 million of this total at December 31, 2011.
(9)	The largest loan in this category had a balance of $2.0 million at December 31, 2010.

		December 31, 2014
										Restructured
										Troubled Debt
										Nonaccruing
		Total								and More
		Restructured				Accruing				Than 30 Days
		Troubled Debt				Interest				Past Due
		(In Thousands)
Commercial real estate		$	23,342			$	16,576			$	6,766
One- to four-family residential			3,923				2,856				1,067
Other residential			9,804				9,804				—
Construction			8,307				8,104				203
Commercial			1,923				1,682				241
Consumer			324				190				134
		$	47,623			$	39,212			$	8,411

		December 31, 2013
										Restructured
										Troubled Debt
										Nonaccruing
		Total								and More
		Restructured				Accruing				Than 30 Days
		Troubled Debt				Interest				Past Due
		(In Thousands)
Commercial real estate		$	24,799			$	22,822			$	1,977
One- to four-family residential			5,618				4,356				1,262
Other residential			10,983				10,983				—
Construction			10,874				9,738				1,136
Commercial			1,520				1,509				11
Consumer			310				149				161
		$	54,104			$	49,557			$	4,547

		December 31,
		2014								2013								2012								2011								2010
		Amount				% of Loans to Total Loans (2)				Amount				% of Loans to Total Loans (2)				Amount				% of Loans to Total Loans (2)				Amount				% of Loans to Total Loans (2)				Amount				% of Loans to Total Loans (2)
		(Dollars In Thousands)
One- to four-family residential       and construction		$	3,361				10.2	%		$	6,235				13.5	%		$	6,820				15.2	%		$	11,424				18.1	%		$	11,453				21.3	%
Other residential and construction			2,923				13.3				2,678				14.2				4,327				14.6				3,088				14.3				3,866				12.8
Commercial real estate			18,422				32.1				16,935				35.9				17,433				36.4				18,390				36.7				14,336				35.2
Commercial construction			3,412				15.1				4,464				10.6				3,938				9.8				2,952				8.8				5,852				9.6
Other commercial			3,628				13.4				6,449				13.8				5,093				13.1				2,974				12.4				2,481				10.9
Consumer and overdrafts			4,553				15.9				3,349				12.0				3,021				10.9				2,374				9.7				2,669				10.2
Loans covered by loss sharing agreements (1)			941				—				6				—				17				—				30				—				830				—
Acquired loans not covered by loss sharing agreements			1,195				—				—				—				—				—				—				—				—				—
Total		$	38,435				100.0	%		$	40,116				100.0	%		$	40,649				100.0	%		$	41,232				100.0	%		$	41,487				100.0	%

(1)	Associated with these allowances at December 31, 2014, 2013, 2012, 2011 and 2010, are receivables from the FDIC totaling $753,000, $5,000, $14,000, $24,000 and $664,000, respectively, under the loss sharing agreements which will be collected if the losses are realized.
(2)	Excludes loans covered by loss sharing agreements.

	December 31,
	2014					2013				2012				2011				2010
	(Dollars In Thousands)
Balance at beginning of period		$	40,116			$	40,649			$	41,232			$	41,487			$	40,101
Charge-offs:
One- to four-family residential			2,251				2,196				3,203				2,666				3,069
Other residential			1				3,248				3,579				8,019				1,214
Commercial real estate			2,160				9,836				18,010				13,862				11,495
Construction			126				788				18,027				9,770				17,407
Other commercial			3,286				4,072				3,082				3,496				4,084
Consumer, overdrafts and other loans			4,005				3,312				2,390				2,842				2,779
Total charge-offs			11,829				23,452				48,291				40,655				40,048
Recoveries:
One- to four-family residential			496				113				227				38				162
Other residential			37				43				347				1,547				151
Commercial real estate			3,139				2,412				701				57				606
Construction			181				172				882				455				561
Other commercial			105				1,023				307				1,891				2,295
Consumer, overdrafts and other loans			2,039				1,770				1,381				1,076				2,029
Total recoveries			5,997				5,533				3,845				5,064				5,804
Net charge-offs			5,832				17,919				44,446				35,591				34,244
Provision for losses on loans			4,151				17,386				43,863				35,336				35,630
Balance at end of period		$	38,435			$	40,116			$	40,649			$	41,232			$	41,487
Ratio of net charge-offs to average loans outstanding			0.24	%			0.91	%			2.43	%			2.09	%			2.05	%

		December 31, 2014
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
U.S. government agencies		$	20,000			$	—			$	486			$	19,514
Mortgage-backed securities			254,294				4,325				821				257,798
States and political subdivisions			79,237				5,810				7				85,040
Equity securities			847				2,307				—				3,154
		$	354,378			$	12,442			$	1,314			$	365,506
HELD-TO-MATURITY SECURITIES
States and political subdivisions		$	450			$	49			$	—			$	499

		December 31, 2013
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
U.S. government agencies		$	20,000			$	—			$	2,745			$	17,255
Mortgage-backed securities			365,020				4,824				2,266				367,578
Small Business Administration loan pools			43,461				1,394				—				44,855
States and political subdivisions			122,113				2,549				1,938				122,724
Equity securities			847				2,022				—				2,869
		$	551,441			$	10,789			$	6,949			$	555,281
HELD-TO-MATURITY SECURITIES
States and political subdivisions		$	805			$	107			$	—			$	912

		December 31, 2012
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
U.S. government agencies		$	30,000			$	40			$	—			$	30,040
Collateralized mortgage obligations			3,939				576				8				4,507
Mortgage-backed securities			582,039				14,861				814				596,086
Small Business Administration loan pools			50,198				1,295				—				51,493
States and political subdivisions			114,372				8,506				—				122,878
Equity securities			847				1,159				—				2,006
		$	781,395			$	26,437			$	822			$	807,010
HELD-TO-MATURITY SECURITIES
States and political subdivisions		$	920			$	164			$	—			$	1,084

		Cost				Tax-Equivalent Amortized Yield				Fair Value
		(Dollars In Thousands)
One year or less		$	110				6.22	%		$	110
After five through ten years			4,770				6.18	%			5,042
After ten years			94,357				4.94	%			99,402
Securities not due on a single maturity date			254,294				1.97	%			257,798
Equity securities			847				0.00	%			3,154
Total		$	354,378				2.81	%		$	365,506

		One Year or Less				After One Through Five Years				After Five Through Ten Years				After Ten Years				Securities Not Due on a Single Maturity Date				Equity Securities				Total
		(In Thousands)
U.S. government agencies		$	—			$	—			$	—			$	19,514			$	—			$	—			$	19,514
Mortgage-backed securities			—				—				—				—				257,798				—				257,798
States and political subdivisions			110				—				5,042				79,888				—				—				85,040
Equity securities			—				—				—				—				—				3,154				3,154
Total		$	110			$	—			$	5,042			$	99,402			$	257,798			$	3,154			$	365,506

	Cost					Tax-Equivalent Amortized Yield				Approximate Fair Value
	(Dollars In Thousands)
After one through five years		$	450				7.37	%		$	499

		2014
		Less than 12 Months								12 Months or More								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Description of Securities		Value				Losses				Value				Losses				Value				Losses
		(In Thousands)
U.S. government agencies		$	—			$	—			$	20,000			$	(486	)		$	20,000			$	(486	)
Mortgage-backed securities			40,042				(328	)			45,056				(493	)			85,098				(821	)
States and political
subdivisions			—				—				925				(7	)			925				(7	)
		$	40,042			$	(328	)		$	65,981			$	(986	)		$	106,023			$	(1,314	)

		2013
		Less than 12 Months								12 Months or More								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Description of Securities		Value				Losses				Value				Losses				Value				Losses
		(In Thousands)
U.S. government agencies		$	20,000			$	(2,745	)		$	—			$	—			$	20,000			$	(2,745	)
Mortgage-backed securities			127,901				(1,871	)			39,255				(395	)			167,156				(2,266	)
States and political
subdivisions			50,401				(1,938	)			—				—				50,401				(1,938	)
		$	198,302			$	(6,554	)		$	39,255			$	(395	)		$	237,557			$	(6,949	)

		2012
		Less than 12 Months								12 Months or More								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Description of Securities		Value				Losses				Value				Losses				Value				Losses
		(In Thousands)
Collateralized mortgage
obligations		$	—			$	—			$	414			$	(8	)		$	414			$	(8	)
Mortgage-backed securities			106,136				(814	)			—				—				106,136				(814	)
		$	106,136			$	(814	)		$	414			$	(8	)		$	106,550			$	(822	)

				December 31,
				2014								2013								2012
				Amount				Percent of Total				Amount				Percent of Total				Amount				Percent of Total
				(Dollars In Thousands)
Time deposits:
	0.00% - 0.99%			$	798,932				26.71	%		$	669,698				23.84	%		$	666,573				21.14	%
	1.00% - 1.99%				227,476				7.61				251,118				8.94				426,589				13.53
	2.00% - 2.99%				61,146				2.04				61,042				2.17				90,539				2.87
	3.00% - 3.99%				8,065				0.27				9,413				0.34				13,240				0.42
	4.00% - 4.99%				1,435				0.05				1,852				0.07				5,190				0.16
	5.00% and above				420				0.01				819				0.03				1,816				0.06
Total time deposits					1,097,474				36.69				993,942				35.39				1,203,947				38.18
Non-interest-bearing demand deposits					518,266				17.33				522,805				18.61				385,778				12.23
Interest-bearing demand and savings deposits (0.19%-0.20%-0.33%)					1,375,100				45.98				1,291,879				46.00				1,563,468				49.59
Total Deposits				$	2,990,840				100.00	%		$	2,808,626				100.00	%		$	3,153,193				100.00	%

	Maturity
	3 Months or Less				Over 3 to 6 Months				Over 6 to 12 Months				Over 12 Months				Total
	(In Thousands)
Time deposits:
Less than $100,000		$	115,259			$	88,319			$	163,980			$	153,268			$	520,826
$100,000 or more			80,537				59,754				117,813				137,558				395,662
Brokered			3,796				12,151				64,709				92,868				173,524
Public funds(1)			1,895				1,513				3,537				517				7,462
Total		$	201,487			$	161,737			$	350,039			$	384,211			$	1,097,474

(1)	Deposits from governmental and other public entities.

	Year Ended December 31,
	2014				2013				2012
	(Dollars In Thousands)
FHLBank Advances:
Maximum balance		$	281,649			$	128,125			$	181,780
Average balance			171,997				127,561				145,464
Weighted average interest rate			1.69	%			3.11	%			3.05	%

	December 31,
	2014				2013				2012
	(Dollars In Thousands)
FHLBank advances		$	271,641			$	126,757			$	126,730
Weighted average interest    rate of FHLBank advances			0.75	%			3.85	%			3.89	%

	Year Ended December 31, 2014
	Maximum Balance				Average Balance				Weighted Average Interest Rate
	(Dollars In Thousands)
Other Borrowings:
Securities sold under reverse repurchase agreements		$	187,673			$	161,141				0.03	%
Overnight borrowings — FHLBank			41,000				2,869				0.30
Other			1,451				1,197				—
Total						$	165,207				0.03	%
Total maximum month-end balance			211,444

	Year Ended December 31, 2013
	Maximum Balance				Average Balance				Weighted Average Interest Rate
	(Dollars In Thousands)
Other Borrowings:
Securities sold under reverse repurchase agreements		$	219,415			$	179,667				0.03	%
Other			1,128				713				—
Total						$	180,380				0.03	%
Total maximum month-end balance			220,543

	Year Ended December 31, 2012
	Maximum Balance				Average Balance				Weighted Average Interest Rate
	(Dollars In Thousands)
Other Borrowings:
Securities sold under reverse repurchase agreements		$	225,859			$	212,092				0.15	%
Other			772				560				—
Total						$	212,652				0.15	%
Total maximum month-end balance			226,381

	December 31,
	2014								2013								2012
	Balance				Weighted Average Interest Rate				Balance				Weighted Average Interest Rate				Balance				Weighted Average Interest Rate
	(Dollars In Thousands)
Other borrowings:
Securities sold under reverse repurchase agreements		$	168,993				0.03	%		$	134,981				0.04	%		$	179,644				0.07	%
Overnight borrowings — FHLBank			41,000				0.26				—				—				—				—
Other			1,451				—				1,128				—				772				—
Total		$	211,444				0.08	%		$	136,109				0.04	%		$	180,416				0.07	%

	Year Ended December 31,
	2014					2013				2012
	(Dollars In Thousands)
Structured repurchase agreements:
Maximum balance		$	50,000			$	53,034			$	53,086
Average balance			23,699				52,218				53,066
Weighted average interest rate			4.34	%			4.34	%			4.33	%

	December 31,
	2014				2013				2012
	(Dollars In Thousands)
Structured repurchase agreements		$	—			$	50,000			$	53,039
Weighted average interest    rate of structured repurchase agreements			N/A	%			4.34	%			4.36	%

	December 31,
	2014				2013				2012
	(Dollars In Thousands)
Subordinated debentures		$	30,929			$	30,929			$	30,929
Weighted average interest    rate of subordinated debentures			1.80	%			1.81	%			1.89	%

Metropolitan Statistical Area	Number of Branch Offices	Percentage of Total Market Share	Rank	Institution with Leading Market Share Position
Springfield, MO	24	13.0%	2	Commerce Bank
Sioux City, IA-NE-SD	7	5.5%	5	Security National Bank of Sioux City
Davenport/Moline/Rock Island, IA-IL	7	4.3%	8	Wells Fargo Bank
Kansas City, MO-KS	11	0.4%	39	UMB Bank
St. Louis, MO-IL	8	0.3%	45	Scottrade Bank
Des Moines/West Des Moines, IA	8	0.2%	39	Wells Fargo Bank
Omaha/ Council Bluffs, NE-IA	4	0.2%	45	First National Bank of Omaha
Fayetteville/Springdale/Rogers, AR-MO	2	0.2%	32	Arvest Bank
Minneapolis/St. Paul/Bloomington, MN-WI	4	0.1%	31	Wells Fargo Bank

·	Centralize responsibility for consumer financial protection by creating a new agency, the Consumer Financial Protection Bureau, with broad rulemaking authority for a wide range of consumer protection laws that apply to all banks.  These laws are enforced by the Bureau for banks with more than $10 billion in assets and by the federal banking regulators for other banks.
·	Require new capital rules and apply to bank holding companies the same leverage and risk-based capital requirements that apply to insured depository institutions.
·	Change the assessment base for federal deposit insurance from the amount of insured deposits to consolidated average assets less Tier 1 capital.
·	Increase the minimum ratio of net worth to insured deposits of the Deposit Insurance Fund from 1.15% to 1.35% and require the FDIC, in setting assessments, to offset the effect of the increase on institutions with assets of less than $10 billion.
·	Provide for new disclosure and other requirements relating to executive compensation and corporate governance and a prohibition on compensation arrangements that encourage inappropriate risks or that could provide excessive compensation.
·	Make permanent the $250 thousand limit for federal deposit insurance.
·	Repeal the federal prohibitions on the payment of interest on demand deposits, thereby permitting depository institutions to pay interest on business transaction and other accounts.
·	Increase the authority of the FRB to examine the Company and its non-bank subsidiaries.
·	Require all bank holding companies to serve as a source of financial strength to their depository institution subsidiaries in the event such subsidiaries suffer from financial distress.

		2014								2013								2012
		High				Low				High				Low				High				Low
First Quarter		$	31.00			$	26.95			$	27.34			$	23.31			$	25.18			$	20.60
Second Quarter			32.25				28.00				28.00				22.60				27.71				21.25
Third Quarter			33.77				29.53				31.00				25.71				31.81				27.22
Fourth Quarter			40.28				29.80				31.23				25.87				31.49				24.25

		2014				2013				2012
First Quarter		$	.20			$	.18			$	.18
Second Quarter			.20				.18				.18
Third Quarter			.20				.18				.18
Fourth Quarter			.20				.18				.18

	Total Number of Shares Purchased		Average Price Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plan		Maximum Number of Shares that May Yet Be Purchased Under the Plan (1)
October 1, 2014 - October 31, 2014	—		$     —		—		378,562
November 1, 2014- November 30, 2014	—		—		—		378,562
December 1, 2014- December 31, 2014	—		—		—		378,562
	—		$     —		—

__________________
(1)	Amount represents the number of shares available to be repurchased under the November 2006 plan as of the last calendar day of the month shown.

		December 31,
		2014				2013				2012				2011				2010
		(Dollars In Thousands)
Summary Statement of Condition Information:
Assets		$	3,951,334			$	3,560,250			$	3,955,182			$	3,790,012			$	3,411,505
Loans receivable, net			3,053,427				2,446,769				2,346,467				2,153,081				1,899,386
Allowance for loan losses			38,435				40,116				40,649				41,232				41,487
Available-for-sale securities			365,506				555,281				807,010				875,411				769,546
Other real estate owned, net			45,838				53,514				68,874				67,621				60,262
Deposits			2,990,840				2,808,626				3,153,193				2,963,539				2,595,893
Total borrowings			514,014				343,795				391,114				485,853				495,554
Stockholders' equity (retained
earnings substantially restricted)			419,745				380,698				369,874				324,587				304,009
Common stockholders' equity			361,802				322,755				311,931				266,644				247,529
Average loans receivable			2,784,106				2,403,544				2,326,273				2,007,914				2,019,361
Average total assets			3,824,493				3,789,876				4,005,613				3,496,860				3,528,043
Average deposits			3,007,588				2,996,941				3,199,683				2,671,710				2,661,164
Average stockholders' equity			402,670				378,650				352,282				316,486				309,558
Number of deposit accounts			217,877				192,323				197,733				189,288				171,278
Number of full-service offices			108				96				107				104				75

		For the Year Ended December 31,
		2014				2013				2012				2011				2010
		(In Thousands)
Summary Statement of Operations Information:
Interest income:
Loans		$	172,569			$	163,903			$	170,163			$	171,201			$	145,832
Investment securities and other			10,793				14,892				23,345				27,466				27,359
			183,362				178,795				193,508				198,667				173,191
Interest expense:
Deposits			11,225				12,346				20,720				26,370				38,427
Federal Home Loan Bank advances			2,910				3,972				4,430				5,242				5,516
Short-term borrowings and repurchase agreements			1,099				2,324				2,610				2,965				3,329
Subordinated debentures issued to capital trust			567				561				617				569				578
			15,801				19,203				28,377				35,146				47,850
Net interest income			167,561				159,592				165,131				163,521				125,341
Provision for loan losses			4,151				17,386				43,863				35,336				35,630
Net interest income after  provision for loan losses			163,410				142,206				121,268				128,185				89,711
Noninterest income:
Commissions			1,163				1,065				1,036				896				767
Service charges and ATM fees			19,075				18,227				19,087				18,063				18,652
Net realized gains on sales of loans			4,133				4,915				5,505				3,524				3,765
Net realized gains on sales of
available-for-sale securities			2,139				243				2,666				483				8,787
Recognized impairment of available-for-sale securities			—				—				(680	)			(615	)			—
Late charges and fees on loans			1,400				1,264				1,028				651				767
Gain (loss) on derivative interest rate products			(345	)			295				(38	)			(10	)			—
Gain recognized on business acquisitions			10,805				—				31,312				16,486				—
Accretion (amortization) of income/expense related to business acquisition			(27,868	)			(25,260	)			(18,693	)			(37,797	)			(10,427	)
Other income			4,229				4,566				4,779				2,450				2,018
			14,731				5,315				46,002				4,131				24,329
Noninterest expense:
Salaries and employee benefits			56,032				52,468				51,262				43,606				39,908
Net occupancy expense			23,541				20,658				20,179				15,220				13,480
Postage			3,578				3,315				3,301				3,096				3,231
Insurance			3,837				4,189				4,476				4,840				4,463
Advertising			2,404				2,165				1,572				1,316				1,754
Office supplies and printing			1,464				1,303				1,389				1,268				1,447
Telephone			2,866				2,868				2,768				2,270				2,158
Legal, audit and other professional fees			3,957				4,348				4,323				3,803				2,832
Expense on foreclosed assets			5,636				4,068				8,748				11,846				4,914
Partnership tax credit			1,720				2,108				1,825				2,035				161
Other operating expenses			15,824				8,128				8,760				6,226				6,723
			120,859				105,618				108,603				95,526				81,071
Income from continuing operations
before income taxes			57,282				41,903				58,667				36,790				32,969
Provision for income taxes			13,753				8,174				14,580				7,133				9,669
Net income from continuing operations			43,529				33,729				44,087				29,657				23,300
Discontinued Operations
Income from discontinued operations, net of income taxes			—				—				4,619				612				565
Net income			43,529				33,729				48,706				30,269				23,865
Preferred stock dividends and discount accretion			579				579				608				2,798				3,403
Non-cash deemed preferred stock dividend			—				—				—				1,212				—
Net income available to common shareholders		$	42,950			$	33,150			$	48,098			$	26,259			$	20,462

		At or For the Year Ended December 31,
		2014					2013					2012					2011					2010
		(Number of shares in thousands)
Per Common Share Data:
Basic earnings per common share		$	3.14				$	2.43				$	3.55				$	1.95				$	1.52
Diluted earnings per common share			3.10					2.42					3.54					1.93					1.46
Diluted earnings from continuing operations per     common share			3.10					2.42					3.20					1.89					1.42
Cash dividends declared			0.80					0.72					0.72					0.72					0.72
Book value per common share			26.30					23.60					22.94					19.78					18.40
Average shares outstanding			13,700					13,635					13,534					13,462					13,434
Year-end actual shares outstanding			13,755					13,674					13,596					13,480					13,454
Average fully diluted shares outstanding			13,876					13,715					13,592					13,626					14,046
Earnings Performance Ratios:
Return on average assets(1)			1.14	%				0.89	%				1.22	%				0.87	%				0.68	%
Return on average stockholders' equity(2)			12.63					10.52					16.55					11.67					9.42
Non-interest income to average total assets			0.39					0.14					1.49					0.35					0.91
Non-interest expense to average total assets			3.16					2.79					2.71					2.73					2.30
Average interest rate spread(3)			4.74					4.60					4.53					5.06					3.81
Year-end interest rate spread			3.86					3.88					3.57					3.68					3.81
Net interest margin(4)			4.84					4.70					4.61					5.17					3.93
Efficiency ratio(5)			66.30					64.05					51.44					56.98					54.17
Net overhead ratio(6)			2.77					2.66					1.56					2.61					1.61
Common dividend pay-out ratio(7)			25.81					29.75					20.34					37.31					49.32
Asset Quality Ratios (8):
Allowance for loan losses/year-end loans			1.34	%				1.92	%				2.21	%				2.33	%				2.48	%
Non-performing assets/year-end loans and foreclosed assets			1.39					2.46					2.98					3.31					3.93
Allowance for loan losses/non-performing loans			471.77					201.53					180.84					149.95					141.02
Net charge-offs/average loans			0.24					0.91					2.43					2.09					2.05
Gross non-performing assets/year end assets			1.11					1.74					1.84					1.96					2.30
Non-performing loans/year-end loans			0.26					0.80					0.94					1.25					1.52
Balance Sheet Ratios:
Loans to deposits			102.09	%				87.12	%				74.42	%				72.65	%				73.17	%
Average interest-earning assets as a percentage      of average interest-bearing liabilities			120.95					116.03					110.12					110.55					108.22
Capital Ratios:
Average common stockholders' equity to average assets			9.0	%				8.5	%				7.4	%				7.4	%				7.2	%
Year-end tangible common stockholders' equity to assets			9.0					8.9					7.7					6.9					7.1
Great Southern Bancorp, Inc.:
Tier 1 risk-based capital ratio			13.3					15.6					15.7					14.8					16.8
Total risk-based capital ratio			14.5					16.9					16.9					16.1					18.0
Tier 1 leverage ratio			11.1					11.3					9.5					9.2					9.5
Great Southern Bank:
Tier 1 risk-based capital ratio			11.4					14.2					14.7					14.1					14.6
Total risk-based capital ratio			12.6					15.4					15.9					15.3					15.8
Tier 1 leverage ratio			9.5					10.2					8.9					8.6					8.3
Ratio of Earnings to Fixed Charges and Preferred Stock Dividend Requirement (9):
Including deposit interest			4.41	x				3.07	x				3.22	x				1.82	x				1.55	x
Excluding deposit interest			11.59	x				6.44	x				8.66	x				3.38	x				3.04	x

____________________
(1)	Net income (loss) divided by average total assets.
(2)	Net income (loss) divided by average stockholders' equity.
(3)	Yield on average interest-earning assets less rate on average interest-bearing liabilities.
(4)	Net interest income divided by average interest-earning assets.
(5)	Non-interest expense divided by the sum of net interest income plus non-interest income.
(6)	Non-interest expense less non-interest income divided by average total assets.
(7) (8) (9)	Cash dividends per common share divided by earnings per common share. Excludes assets covered by FDIC loss sharing agreements. In computing the ratio of earnings to fixed charges and preferred stock dividend requirement: (a) earnings have been based on income before income taxes and fixed charges, and (b) fixed charges consist of interest and amortization of debt discount and expense including amounts capitalized and the estimated interest portion of rents.

		Beginning Balance, January 1				Additions				Removed from Non- Performing				Transfers to Potential Problem Loans				Transfers to Foreclosed Assets				Charge-Offs				Payments				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Subdivision construction			871				3,231				—				—				(2,367	)			(1,136	)			(599	)			—
Land development			338				102				—				—				(67	)			(80	)			(38	)			255
Commercial construction			—				—				—				—				—				—				—				—
One- to four-family residential			4,361				5,489				(76	)			(1,088	)			(4,657	)			(1,129	)			(1,235	)			1,665
Other residential			—				—				—				—				—				—				—				—
Commercial real estate			6,205				5,884				(1,577	)			—				—				(1,363	)			(4,450	)			4,699
Other commercial			7,231				342				(3,118	)			—				—				(2,417	)			(1,627	)			411
Consumer			900				1,193				(273	)			(52	)			(42	)			(206	)			(403	)			1,117
Total		$	19,906			$	16,241			$	(5,044	)		$	(1,140	)		$	(7,133	)		$	(6,331	)		$	(8,352	)		$	8,147

		Beginning Balance, January 1				Additions				Proceeds from Sales				Capitalized Costs				ORE Expense Write-Downs				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	—			$	223			$	—			$	—			$	—			$	223
Subdivision construction			11,652				2,144				(3,079	)			—				(860	)			9,857
Land development			18,920				76				(333	)			—				(1,495	)			17,168
Commercial construction			—				—				—				—				—				—
One- to four-family residential			744				4,800				(1,989	)			—				(202	)			3,353
Other residential			5,900				—				(3,060	)			96				(311	)			2,625
Commercial real estate			4,135				417				(2,773	)			—				(147	)			1,632
Commercial business			79				—				(3	)			—				(17	)			59
Consumer			715				3,051				(3,101	)			—				(41	)			624
Total		$	42,145			$	10,711			$	(14,338	)		$	96			$	(3,073	)		$	35,541

		Beginning Balance, January 1				Additions				Removed from Potential Problem				Transfers to Non- Performing				Transfers to Foreclosed Assets				Charge-Offs				Payments				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	—			$	1,312			$	—			$	—			$	—			$	—			$	—			$	1,312
Subdivision construction			2,201				4,392				—				(1,806	)			(2	)			(500	)			(33	)			4,252
Land development			10,857				—				(5,000	)			—				—				—				—				5,857
Commercial construction			—				—				—				—				—				—				—				—
One- to four-family residential			2,193				2,749				(250	)			(2,412	)			—				—				(374	)			1,906
Other residential			1,956				—				—				—				—				—				—				1,956
Commercial real estate			8,737				5,805				(1,905	)			(3,456	)			(417	)			(381	)			(340	)			8,043
Other commercial			860				849				(43	)			(225	)			—				—				(6	)			1,435
Consumer			183				145				—				(6	)			—				(26	)			(82	)			214
Total		$	26,987			$	15,252			$	(7,198	)		$	(7,905	)		$	(419	)		$	(907	)		$	(835	)		$	24,975

		Dec. 31, 2014(2)				Year Ended December 31, 2014												Year Ended December 31, 2013												Year Ended December 31, 2012
		Yield/ Rate				Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
						(Dollars In Thousands)
Interest-earning assets:
Loans receivable:
One- to four-family residential			4.57	%		$	480,827			$	41,343				8.60	%		$	472,127			$	35,072				7.43	%		$	463,096			$	31,643				6.83	%
Other residential			4.56				375,754				21,268				5.66				312,362				23,963				7.67				314,630				18,807				5.98
Commercial real estate			4.34				920,340				47,724				5.19				813,147				51,175				6.29				785,181				56,428				7.19
Construction			4.11				259,993				13,330				5.13				208,254				14,413				6.92				219,309				20,802				9.49
Commercial business			4.68				296,318				17,722				5.98				249,647				14,505				5.81				228,109				19,439				8.52
Other loans			5.09				404,375				28,593				7.07				297,852				21,947				7.37				259,684				19,739				7.60
Industrial revenue bonds (1)			5.22				46,499				2,589				5.57				50,155				2,828				5.64				56,264				3,305				5.87
Total loans receivable			4.66				2,784,106				172,569				6.20				2,403,544				163,903				6.82				2,326,273				170,163				7.31
Investment securities (1)			2.81				495,155				10,467				2.11				717,806				14,459				2.01				846,197				22,674				2.68
Other interest-earning assets			0.21				185,072				326				0.18				276,394				433				0.16				413,092				671				0.16
Total interest-earning assets			4.33				3,464,333				183,362				5.29				3,397,744				178,795				5.26				3,585,562				193,508				5.40
Non-interest-earning assets:
Cash and cash equivalents							96,665												88,678												84,035
Other non-earning assets							263,495												303,454												336,016
Total assets						$	3,824,493											$	3,789,876											$	4,005,613
Interest-bearing liabilities:
Interest-bearing demand and savings			0.19			$	1,429,893				3,088				0.22			$	1,464,029				3,551				0.24			$	1,456,172				7,087				0.49
Time deposits			0.78				1,042,563				8,137				0.78				1,073,110				8,795				0.82				1,357,741				13,633				1.00
Total deposits			0.45				2,472,456				11,225				0.45				2,537,139				12,346				0.49				2,813,913				20,720				0.74
Short-term borrowings and repurchase agreements			0.08				188,906				1,099				0.58				232,598				2,324				1.00				265,718				2,610				0.98
Subordinated debentures issued to capital trust			1.80				30,929				567				1.83				30,929				561				1.81				30,929				617				1.99
FHLB advances			0.75				171,997				2,910				1.69				127,561				3,972				3.11				145,464				4,430				3.05
Total interest-bearing liabilities			0.47				2,864,288				15,801				0.55				2,928,227				19,203				0.66				3,256,024				28,377				0.87
Non-interest-bearing liabilities:
Demand deposits							535,132												459,802												385,770
Other liabilities							22,403												23,197												11,537
Total liabilities							3,421,823												3,411,226												3,653,331
Stockholders' equity							402,670												378,650												352,282
Total liabilities and stockholders' equity						$	3,824,493											$	3,789,876											$	4,005,613
Net interest income:
Interest rate spread			3.86	%						$	167,561				4.74	%						$	159,592				4.60	%						$	165,131				4.53	%
Net interest margin*															4.84	%											4.70	%											4.61	%
Average interest-earning assets to average interest-bearing liabilities							120.9	%											116.0	%											110.1	%

*	Defined as the Company's net interest income divided by total interest-earning assets.
(1)	Of the total average balances of investment securities, average tax-exempt investment securities were $87.9 million, $80.9 million and $134.7 million for 2014, 2013 and 2012, respectively. In addition, average tax-exempt industrial revenue bonds were $38.5 million, $38.3 million and $22.1 million in 2014, 2013 and 2012, respectively. Interest income on tax-exempt assets included in this table was $5.2 million, $5.1 million and $5.8 million for 2014, 2013 and 2012, respectively. Interest income net of disallowed interest expense related to tax-exempt assets was $5.0 million, $4.9 million and $5.5 million for 2014, 2013 and 2012, respectively.
(2)	The yield/rate on loans at December 31, 2014 does not include the impact of the accretable yield (income) on loans acquired in the FDIC-assisted transactions.  See "Net Interest Income" for a discussion of the effect on 2014 results of operations.

		Year Ended December 31, 2014 vs. December 31, 2013												Year Ended December 31, 2013 vs. December 31, 2012
		Increase (Decrease) Due to								Total Increase (Decrease)				Increase (Decrease) Due to								Total Increase (Decrease)
		Rate				Volume								Rate				Volume
		(In Thousands)
Interest-earning assets:
Loans receivable		$	(15,785	)		$	24,451			$	8,666			$	(11,786	)		$	5,526			$	(6,260	)
Investment securities			684				(4,676	)			(3,992	)			(5,099	)			(3,116	)			(8,215	)
Other interest-earning assets			49				(156	)			(107	)			(23	)			(215	)			(238	)
Total interest-earning assets			(15,052	)			19,619				4,567				(16,908	)			2,195				(14,713	)
Interest-bearing liabilities:
Demand deposits			(382	)			(81	)			(463	)			(3,574	)			38				(3,536	)
Time deposits			(412	)			(246	)			(658	)			(2,260	)			(2,578	)			(4,838	)
Total deposits			(794	)			(327	)			(1,121	)			(5,834	)			(2,540	)			(8,374	)
Short-term borrowings and structured repo			(845	)			(380	)			(1,225	)			44				(330	)			(286	)
Subordinated debentures issued to capital trust			6				—				6				(56	)			—				(56	)
FHLBank advances			(2,172	)			1,110				(1,062	)			98				(556	)			(458	)
Total interest-bearing liabilities			(3,805	)			403				(3,402	)			(5,748	)			(3,426	)			(9,174	)
Net interest income		$	(11,247	)		$	19,216			$	7,969			$	(11,160	)		$	5,621			$	(5,539	)

		Beginning Balance, January 1				Additions				Removed from Non- Performing				Transfers to Potential Problem Loans				Transfers to Foreclosed Assets				Charge-Offs				Payments				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Subdivision construction			2				1,293				—				(2	)			(281	)			(133	)			(8	)			871
Land development			2,471				525				—				—				(2,236	)			(288	)			(134	)			338
Commercial construction			—				—				—				—				—				—				—				—
One- to four-family residential			4,581				4,792				—				(705	)			(1,683	)			(1,419	)			(1,205	)			4,361
Other residential			—				4,535				—				—				(350	)			(866	)			(3,319	)			—
Commercial real estate			8,324				12,158				—				(92	)			(5,389	)			(4,179	)			(4,617	)			6,205
Other commercial			6,248				7,272				—				—				(126	)			(2,725	)			(3,438	)			7,231
Consumer			852				1,238				(399	)			(35	)			(43	)			(166	)			(547	)			900
Total		$	22,478			$	31,813			$	(399	)		$	(834	)		$	(10,108	)		$	(9,776	)		$	(13,268	)		$	19,906

		Beginning Balance, January 1				Additions				Proceeds from Sales				Capitalized Costs				ORE Expense Write-Downs				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	627			$	600			$	(627	)		$	—			$	—			$	600
Subdivision construction			17,146				832				(5,659	)			26				(193	)			12,152
Land development			14,284				4,353				(1,935	)			45				(59	)			16,688
Commercial construction			6,511				113				(4,254	)			—				(238	)			2,132
One- to four-family residential			975				2,550				(2,693	)			—				(88	)			744
Other residential			7,232				350				(1,864	)			387				(205	)			5,900
Commercial real estate			2,738				8,995				(8,518	)			—				(80	)			3,135
Commercial business			160				—				(81	)			—				—				79
Consumer			471				3,410				(3,166	)			—				—				715
Total		$	50,144			$	21,203			$	(28,797	)		$	458			$	(863	)		$	42,145

		Beginning Balance, January 1				Additions				Removed from Potential Problem				Transfers to Non- Performing				Transfers to Foreclosed Assets				Charge-Offs				Payments				Ending Balance, December 31
		(In Thousands)
One- to four-family construction		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Subdivision construction			1,652				1,894				(76	)			(765	)			(36	)			(149	)			(319	)			2,201
Land development			9,458				5,025				—				(158	)			(2,081	)			(1,089	)			(298	)			10,857
Commercial construction			—				—				—				—				—				—				—				—
One- to four-family residential			5,386				1,150				(1,136	)			(503	)			(754	)			(965	)			(985	)			2,193
Other residential			8,487				1,347				(4,414	)			(713	)			—				(2,181	)			(570	)			1,956
Commercial real estate			21,913				8,736				(3,535	)			(9,639	)			(4,605	)			(2,352	)			(1,638	)			8,880
Other commercial			2,398				3,267				(73	)			(4,426	)			—				(431	)			(18	)			717
Consumer			129				283				(77	)			(18	)			—				(4	)			(130	)			183
Total		$	49,423			$	21,702			$	(9,311	)		$	(16,222	)		$	(7,476	)		$	(7,171	)		$	(3,958	)		$	26,987

		Payments Due In:
		One Year or Less				Over One to Five Years				Over Five Years				Total
		(In Thousands)
Deposits without a stated maturity		$	1,893,366			$	—			$	—			$	1,893,366
Time and brokered certificates of deposit			713,263				378,379				5,832				1,097,474
Federal Home Loan Bank advances			240,136				31,005				500				271,641
Short-term borrowings			211,444				—				—				211,444
Subordinated debentures			—				—				30,929				30,929
Operating leases			1,042				2,779				526				4,347
Dividends declared but not paid			2,896				—				—				2,896
		$	3,062,147			$	412,163			$	37,787			$	3,512,097

	December 31, 2014		December 31, 2013
Federal Home Loan Bank line	$395.3 million		$407.4 million
Federal Reserve Bank line	563.2 million		418.9 million
Interest-Bearing and Non-Interest-Bearing Deposits	218.6 million		227.9 million
Unpledged Securities	63.7 million		91.7 million

		December 31,
		2015				2016				2017				2018				2019				Thereafter				Total				2014 Fair Value
		(Dollars In Thousands)
Financial Assets:
Interest bearing deposits		$	109,595				—				—				—				—				—			$	109,595			$	109,595
Weighted average rate			0.21	%			—				—				—				—				—				0.21	%
Available-for-sale equity securities			—				—				—				—				—			$	3,154			$	3,154			$	3,154
Weighted average rate			—				—				—				—				—				—				—
Available-for-sale debt securities(1)		$	26,272			$	7,923			$	12,261			$	5,552			$	15,568			$	294,776			$	362,352			$	362,352
Weighted average rate			3.12	%			5.99	%			6.23	%			0.05	%			5.67	%			2.39	%			2.82	%
Held-to-maturity securities			—				—				—			$	450				—				—			$	450			$	499
Weighted average rate			—				—				—				7.37	%			—				—				7.37	%
Adjustable rate loans		$	324,907			$	147,664			$	227,122			$	127,729			$	139,560			$	550,618			$	1,517,600			$	1,518,438
Weighted average rate			4.57	%			4.12	%			4.25	%			4.14	%			4.31	%			4.08	%			4.02	%
Fixed rate loans		$	245,975			$	166,388			$	259,730			$	271,536			$	306,913			$	404,893			$	1,655,435			$	1,663,490
Weighted average rate			5.08	%			5.24	%			5.10	%			4.86	%			4.79	%			6.08	%			5.25	%
Federal Home Loan Bank stock			—				—				—				—				—			$	16,893			$	16,893			$	16,893
Weighted average rate			—				—				—				—				—				2.66	%			2.66	%
Total financial assets		$	706,749			$	321,975			$	499,113			$	405,267			$	426,041			$	1,270,334			$	3,665,479
Financial Liabilities:
Time deposits		$	713,263			$	237,169			$	92,392			$	39,739			$	9,079			$	5,832			$	1,097,474			$	1,102,860
Weighted average rate			0.65	%			1.00	%			1.46	%			1.53	%			1.33	%			2.57	%			0.84	%
Interest-bearing demand		$	1,375,100				—				—				—				—				—			$	1,375,100			$	1,375,100
Weighted average rate			0.19	%			—				—				—				—				—				0.19	%
Non-interest-bearing demand		$	518,266				—				—				—				—				—			$	518,266			$	518,266
Weighted average rate			—				—				—				—				—				—				—
Federal Home Loan Bank		$	240,092			$	82			$	30,854			$	84			$	29			$	500			$	271,641			$	273,568
Weighted average rate			0.41	%			5.06	%			3.26	%			5.06	%			5.06	%			5.54	%			0.75	%
Short-term borrowings		$	211,444				—				—				—				—				—			$	211,444			$	211,444
Weighted average rate			0.08	%			—				—				—				—				—				0.08	%
Subordinated debentures			—				—				—				—				—			$	30,929			$	30,929			$	30,929
Weighted average rate			—				—				—				—				—				1.80	%			1.80	%
Total financial liabilities		$	3,058,165			$	237,251			$	123,246			$	39,823			$	9,108			$	37,261			$	3,504,854

_______________

(1)

Available-for-sale debt securities include approximately $257.8 million of mortgage-backed securities which pay interest and principal monthly to the Company. Of this total, $238.1 million represents securities that have variable rates of interest after a fixed interest period. These securities will experience rate changes at varying times over the next ten years. This table does not show the effect of these monthly repayments of principal or rate changes.

		December 31,
		2015				2016				2017				2018				2019				Thereafter				Total				2014 Fair Value
		(Dollars In Thousands)
Financial Assets:
Interest bearing deposits		$	109,595				—				—				—				—				—			$	109,595			$	109,595
Weighted average rate			0.21	%			—				—				—				—				—				0.21	%
Available-for-sale equity securities			—				—				—				—				—			$	3,154			$	3,154			$	3,154
Weighted average rate			—				—				—				—				—				—				—
Available-for-sale debt securities(1)		$	166,325			$	45,857			$	24,544			$	19,086			$	49,796			$	56,744			$	362,352			$	362,352
Weighted average rate			1.90	%			2.62	%			4.04	%			4.62	%			2.93	%			4.60	%			2.82	%
Held-to-maturity securities			—				—				—			$	450				—				—			$	450			$	499
Weighted average rate			—				—				—				7.37	%			—								7.37	%
Adjustable rate loans		$	1,323,998			$	68,805			$	24,088			$	40,122			$	48,039			$	12,548			$	1,517,600			$	1,518,438
Weighted average rate			3.99	%			4.35	%			4.31	%			4.14	%			4.32	%			4.08	%			4.02	%
Fixed rate loans		$	245,975			$	166,388			$	259,730			$	271,536			$	306,913			$	404,893			$	1,655,435			$	1,663,490
Weighted average rate			5.08	%			5.24	%			5.10	%			4.86	%			4.79	%			6.08	%			5.25	%
Federal Home Loan Bank stock		$	16,893				—				—				—				—				—			$	16,893			$	16,893
Weighted average rate			2.66	%			—				—				—				—				—				2.66	%
Total financial assets		$	1,862,786			$	281,050			$	308,362			$	331,194			$	404,748			$	477,339			$	3,665,479
Financial Liabilities:
Time deposits		$	713,263			$	237,169			$	92,392			$	39,739			$	9,079			$	5,832			$	1,097,474			$	1,102,860
Weighted average rate			0.65	%			1.00	%			1.46	%			1.53	%			1.33	%			2.57	%			0.84	%
Interest-bearing demand		$	1,375,100				—				—				—				—				—			$	1,375,100			$	1,375,100
Weighted average rate			0.19	%			—				—				—				—				—				0.19	%
Non-interest-bearing demand(2)			—				—				—				—				—			$	518,266			$	518,266			$	518,266
Weighted average rate			—				—				—				—				—				—				—
Federal Home Loan Bank advances		$	240,092			$	82			$	30,854			$	84			$	29			$	500			$	271,641			$	273,568
Weighted average rate			0.41	%			5.06	%			3.26	%			5.06	%			5.06	%			5.54	%			0.75	%
Short-term borrowings		$	211,444				—				—				—				—				—			$	211,444			$	211,444
Weighted average rate			0.08	%			—				—				—				—				—				0.08	%
Structured repurchase agreements			—				—				—				—				—				—				—				—
Weighted average rate			—				—				—				—				—				—				—				—
Subordinated debentures		$	30,929				—				—				—				—				—			$	30,929			$	30,929
Weighted average rate			1.80	%			—				—				—				—				—				1.80	%
Total financial liabilities		$	2,570,828			$	237,251			$	123,246			$	39,823			$	9,108			$	524,598			$	3,504,854
Periodic repricing GAP		$	(708,042	)		$	43,799			$	185,116			$	291,371			$	395,640			$	(47,259	)		$	160,625
Cumulative repricing GAP		$	(708,042	)		$	(644,243	)		$	(479,127	)		$	(187,756	)		$	207,884			$	160,625

_______________
(1)	Available-for-sale debt securities include approximately $257.8 million of mortgage-backed securities which pay interest and principal monthly to the Company. Of this total, $238.1 million represents securities that have variable rates of interest after a fixed interest period. These securities will experience rate changes at varying times over the next ten years. This table does not show the effect of these monthly repayments of principal or rate changes.
(2)	Non-interest-bearing demand is included in this table in the column labeled "Thereafter" since there is no interest rate related to these liabilities and therefore there is nothing to reprice.