Great Western Bancorp, Inc (GWB) has reported a marginal fall of 0.16 percent in profit for the quarter ended Sep. 30, 2016. The company has earned $33.76 million, or $0.57 a share, compared with $33.81 million or $0.60 a share, a year ago. On the other hand, adjusted net income for the quarter stood at $35.46 million, or $0.60 a share compared with $33.81 million or $0.60 a share, a year ago.  

Revenue during the quarter grew 17.36 percent to $108.96 million from $92.84 million in the previous year period. Net interest income for the quarter rose 14.99 percent over the prior year period to $98.23 million. Non-interest income for the quarter rose 74.58 percent over the last year period to $15.80 million.

Great Western Bancorp, Inc has made provision of $5.06 million for loan losses during the quarter, up 210.04 percent from $1.63 million in the same period last year.

Net interest margin contracted 6 basis points to 3.92 percent in the quarter from 3.98 percent in the last year period. Efficiency ratio for the quarter deteriorated to 48.50 percent from 45.80 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"I am very happy with our results for the most recent quarter and, more importantly, with fiscal year 2016 as a whole," said Ken Karels, president and chief executive officer. "We were able to deliver significant year-over-year growth including an 11.2% increase in net income, a 12.6% increase in diluted earnings per share and 13.8% increase in tangible book value per share while maintaining a peer-leading efficiency ratio, all against the backdrop of successfully completing our first acquisition since becoming a public company. I want to thank all of our employees for an excellent job over the course of the year. We also announced today that we have increased our quarterly dividend by 21.4%, to $0.17 per share, a level that we believe is reflective of our commitment to actively managing capital and overall shareholder return. We have also announced a $100.0 million share repurchase program which reflects our intent to proactively manage capital."

Noninterest-bearing deposit liabilities were $1,880.51 million or 21.85 percent of total deposits on Sep. 30, 2016, compared with $1,368.45 million or 18.52 percent of total deposits on Sep. 30, 2015.

Investments stood at $1,317.39 million as on Sep. 30, 2016, down 0.75 percent or $9.94 million from year-ago. Shareholders equity stood at $1,663.39 million as on Sep. 30, 2016, up 13.98 percent or $204.05 million from year-ago.

Return on average assets moved down 19 basis points to 1.19 percent in the quarter from 1.38 percent in the last year period. At the same time, return on average equity decreased 100 basis points to 8.20 percent in the quarter from 9.20 percent in the last year period.

Tier-1 leverage ratio stood at 9.50 percent for the quarter, up from 9.10 percent for the previous year quarter. Book value per share was $28.34 for the quarter, up 7.23 percent or $1.91 compared to $26.43 for the same period last year.