Exhibit 99.1

greatwesternbancorpa23.jpg

Great Western Bancorp, Inc. Announces Fiscal Year 2018 Third Quarter Financial Results
Highlights for the Third Quarter of Fiscal Year 2018 (all comparisons in this document refer to the second quarter of fiscal year 2018, except as noted)
Net income was $45.9 million, or $0.78 per diluted share, for the quarter, compared to net income of $40.5 million, or $0.69 per diluted share
Net interest margin and adjusted net interest margin1, 2 were 3.97% and 3.94%, increases of 5 and 8 basis points, respectively
The efficiency ratio1 was reduced to 45.8% for the quarter and 46.7% for fiscal year-to-date
Total loans increased $41.5 million, or 0.4%, to $9.38 billion, bringing fiscal year-to-date growth to $411.3 million, or 4.6%
Total deposits grew to $9.59 billion, an increase of $198.4 million, or 2.1%, for the quarter and $607.7 million, or 6.8%, for fiscal year-to-date
Key asset quality metrics including nonaccrual loans, watch loans and other repossessed property improved during the quarter, while net charge-offs remained stable and substandard loans grew slightly

Sioux Falls, SD - July 26, 2018 - Great Western Bancorp, Inc. (NYSE: GWB) today reported net income of $45.9 million, or $0.78 per diluted share, for the third quarter of fiscal year 2018, compared to net income of $40.5 million, or $0.69 per diluted share.
"It is pleasing to see another quarter of solid earnings, stable asset quality and strong profitability," said Ken Karels, Chairman, President and Chief Executive Officer. "Our efficiency ratio remains strong at 45.8% for the quarter, and also our return on tangible common equity1, has improved to 17.7%."
Net Interest Income and Net Interest Margin2 
Net interest income was $106.4 million for the quarter, an increase of $4.2 million, or 4.1%. Higher loan interest income, driven by 1.7% growth in average loans outstanding and a 15 basis point increase in the yield on loans, was partially offset by higher interest expense associated with a 13 basis point increase in the cost of deposits.
Net interest margin was 3.97% and 3.92%, respectively, for the quarters ended June 30, 2018 and March 31, 2018. Adjusted net interest margin1, which adjusts for the realized gain (loss) on interest rate swaps, was 3.94% and 3.86%, respectively, for the same periods. The yield on interest-earning assets increased by 15 basis points and the cost of interest-bearing liabilities increased by 11 basis points. A $0.8 million reduction in the cost of interest rate swaps was the primary driver of a more pronounced increase in adjusted net interest margin1 compared to net interest margin.
Total loans outstanding were $9.38 billion as of June 30, 2018, an increase of $41.5 million, or 0.4%, for the quarter. The majority of the growth during the quarter occurred in the commercial real estate ("CRE") category of the portfolio, across both non-owner and owner occupied segments, which increased by $61.7 million, partially offset by a decrease of $16.8 million in the commercial non-real estate category of the portfolio.
Total deposits grew to $9.59 billion as of June 30, 2018, an increase of $198.4 million, or 2.1%, during the quarter. Noninterest-bearing deposits were $1.79 billion, a 3.3% decrease, for the quarter and interest-bearing deposits were $7.79 billion, a 3.4% increase for the quarter. FHLB and other borrowings decreased by $216.0 million, or 39.2%, as a result of deposit funding being more cost effective during the June quarter.
Provision for Loan and Lease Losses and Asset Quality
Provision for loan and lease losses was $3.5 million for the quarter, a decrease of $1.4 million, or 28.3%. Net charge-offs for the quarter were $4.0 million, or 0.17% of average total loans on an annualized basis, with the majority of net charge-offs concentrated in the CRE and agriculture segments of the loan portfolio. The ratio of allowance for loan and lease losses ("ALLL") to total loans was 0.69% at June 30, 2018, a decrease from 0.70%.

1 This is a non-GAAP measure management believes is helpful to understanding trends in the business that may not be fully apparent based only on the most comparable GAAP measure. Further information on this measure and a reconciliation to the most comparable GAAP measure is provided at the end of this release.
2 All references to net interest income and net interest margin are presented on a fully-tax equivalent basis unless otherwise noted.

1

The following information was filed by Great Western Bancorp, Inc. (GWB) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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