SIOUX FALLS (AP) -- Great Western Bancorp Inc. (GWB) on Thursday reported a fiscal second-quarter loss of $740.6 million, after reporting a profit in the same period a year earlier.
The bank, based in Sioux Falls, South Dakota, said it had a loss of $13.25 per share. Earnings, adjusted for non-recurring costs, came to 52 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The holding company for Great Western Bank posted revenue of $125.2 million in the period. Its revenue net of interest expense was $101.9 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $119.2 million.
Great Western Bancorp shares have decreased 41% since the beginning of the year. The stock has fallen 42% in the last 12 months.