SIOUX FALLS, S.D.--(BUSINESS WIRE)--Great Western Bancorp, Inc. (NYSE:GWB), the parent company of Great Western Bank (www.greatwesternbank.com), today released its 2019 Annual Report, Community Matters, showcasing its fifth consecutive year achieving record profits since its Initial Public Offering.
The Annual Report highlights fiscal year 2019 achievements including among others:
- Delivering significant year-over-year growth, including a 6.0 percent increase in net income.
- Total assets at fiscal year-end of over $12.8 billion, including $9.7 billion in total loans.
- Increasing deposits 5.8 percent to $10.3 billion, ensuring the bank maintains a strong and stable funding base.
“I am very proud of what the team has achieved during the 2019 fiscal year,” said Ken Karels, Chairperson, President & Chief Executive Officer, in his letter to Company Stockholders. Karels also acknowledged the many hours the bank’s employees give to help improve their communities, saying “Now is a great time to get out and give back to the communities where we work and live. This is Making Life Great in the most meaningful of ways.”
Visit ir.GreatWesternBank.com/FinancialDocs to read the full 2019 Annual Report.
About Great Western Bancorp, Inc.
Great Western Bancorp, Inc. is the holding company for Great Western Bank, a full-service regional bank focused on relationship-based business and agribusiness banking. Great Western Bank offers small and mid-sized businesses a focused suite of financial products and a range of deposit and loan products to retail customers through several channels, including the branch network, online banking system, mobile banking applications and customer care centers. The bank services its customers with over 170 branches in attractive markets across nine states: South Dakota, Iowa, Nebraska, Colorado, Arizona, Kansas, Missouri, North Dakota and Minnesota. To learn more about Great Western Bank visit www.greatwesternbank.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements about Great Western Bancorp, Inc.’s expectations, beliefs, plans, strategies, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “views,” “intends” and similar words or phrases. In particular, the statements included in this press release concerning Great Western Bancorp, Inc.’s expected performance and strategy, the outlook for its agricultural lending segment and the interest rate environment are not historical facts and are forward-looking. Accordingly, the forward-looking statements in this press release are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the sections titled “Item 1A. Risk Factors” and "Cautionary Note Regarding Forward-Looking Statements" in Great Western Bancorp, Inc.’s Annual Report on Form 10-K for the most recently ended fiscal year, and in other periodic filings with the Securities and Exchange Commission. Further, any forward-looking statement speaks only as of the date on which it is made, and Great Western Bancorp, Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
