Exhibit 99.1

Bear State Financial, Inc. Announces Full Year 2016 Earnings

FINANCIAL HIGHLIGHTS:

Little Rock, AR – January 19, 2017 – Bear State Financial, Inc. (the “Company,” NASDAQ: BSF), today reported earnings of $4.8 million and earnings per diluted common share of $0.13 in the fourth quarter of 2016, compared to earnings of $2.6 million or $0.07 per diluted common share in the fourth quarter of 2015. Core earnings for the fourth quarter of 2016 were $4.9 million or $0.13 per diluted common share compared to core earnings of $4.2 million or $0.11 per diluted common share in the fourth quarter of 2015.

For the full year of 2016, net income was $17.5 million and earnings per diluted common share was $0.46 compared to net income of $10.6 million or $0.30 per diluted common share for the full year of 2015. Core earnings for the full year of 2016 were $16.9 million or $0.45 per diluted common share compared to core earnings of $13.0 million or $0.37 per diluted common share for the full year of 2015.

During the first quarter of 2016, the Company integrated Metropolitan National Bank (Springfield, MO) (“MNB”) into Bear State Bank. In addition, the Company consolidated seven branch locations, or 13% of the branch network over the course of the year. The benefits of these operational and organizational efficiencies began to be realized in the second quarter of 2016 as evidenced by the improvement in the Company’s core efficiency ratio to 63% in the fourth quarter of 2016 compared to 67% in the fourth quarter of 2015. Revenue from the profit on sale of mortgage loans increased 56% for the full year of 2016 compared to the full year of 2015 which also contributed to the improvement in the core efficiency ratio.

FINANCIAL CONDITION

Total assets were $2.05 billion at December 31, 2016, a 7% increase compared to $1.92 billion at December 31, 2015. Total loans were $1.56 billion at December 31, 2016, an increase of $97.7 million, or 7% compared to December 31, 2015. Total deposits were $1.64 billion at December 31, 2016, a 2% increase compared to $1.61 billion at December 31, 2015. The increases in total assets and loans were primarily due to an increase in commercial and industrial loans as a result of a greater emphasis on this line of business.

Total stockholders’ equity was $233 million at December 31, 2016, a 5% increase from $223 million at December 31, 2015. Tangible common stockholders’ equity was $183 million at December 31, 2016, a 7% increase from $172 million at December 31, 2015. Book value per common share was $6.21 at December 31, 2016, a 6% increase from $5.87 at December 31, 2015. Tangible book value per common share was $4.86 at December 31, 2016, an 8% increase from $4.52 at December 31, 2015. The Company’s ratio of total stockholders’ equity to total assets decreased to 11.37% at December 31, 2016, compared to 11.62% at December 31, 2015. The calculation of the Company’s tangible book value per common share, tangible common stockholders’ equity and the reconciliation of such non-GAAP financial measures to the most comparable GAAP measures are included in the schedules accompanying this release.

RESULTS OF OPERATIONS

The Company recognized fourth quarter 2016 net income of $4.8 million or $0.13 per diluted common share compared to net income of $2.6 million or $0.07 per diluted common share in the fourth quarter of 2015, resulting in a return on average assets of 0.95% in the fourth quarter of 2016, compared to 0.53% in the fourth quarter of 2015. Calculation of net income in accordance with GAAP includes what the Company considers “non-core items,” which are items that we do not consider indicative of our core operating performance and which are not necessarily comparable from year to year. The Company reports core earnings, which is a non-GAAP financial measure that the Company defines as GAAP net income less non-core items. The reconciliation of GAAP net income to core earnings together with related financial measures and ratios is included in the schedules accompanying this release.

Fourth quarter 2016 core earnings totaled $4.9 million or $0.13 per diluted common share, compared to core earnings of $4.2 million or $0.11 per diluted common share in the fourth quarter of 2015. The core return on average assets measured 0.95% and 0.86%, core return on average equity measured 8.23% and 7.41% and core return on average tangible equity measured 10.50% and 9.65%, each for the fourth quarters of 2016 and 2015, respectively. Non-core items during the fourth quarter of 2016 included net branch restructuring expense of $41,000. The effect of non-core items, net of taxes, increased GAAP net income by approximately $25,000 for the fourth quarter of 2016.

Net interest income for the fourth quarter of 2016 was $17.1 million compared to $17.7 million for the same period in 2015. Net interest income for the year ended December 31, 2016 was $67.5 million, compared to $54.5 million for the same period in 2015. Interest income for the fourth quarter of 2016 was $19.2 million compared to $19.5 million for the same period in 2015. Interest income for the year ended December 31, 2016 was $75.4 million compared to $60.8 million for the same period in 2015. The increase in interest income for the year ended December 31, 2016, compared to 2015 was primarily related to an increase in the average balance of loans receivable as a result of the acquisition of MNB in the fourth quarter of 2015, partially offset by a decrease in the average yield earned on loans receivable. Interest expense for the fourth quarter of 2016 was $2.1 million compared to $1.7 million for the same period in 2015. Interest expense for the year ended December 31, 2016 was $7.9 million compared to $6.4 million for the same period in 2015. The increase in interest expense for the fourth quarter of 2016 compared to the same period in 2015 was primarily due to an increase in the average balance of interest bearing deposits and an increase in the average rate paid on deposits. The increase in interest expense for the year ended December 31, 2016 compared to 2015 was primarily due to an increase in the average balance of interest bearing deposits as a result of the MNB acquisition.

Net interest margin measured 3.75% for the fourth quarter of 2016, compared to 4.14% for the same period in 2015. Net interest margin for the year ended December 31, 2016 was 3.85%, compared to 3.88% for 2015. The Company’s net interest margin decreased primarily as a result of a decrease in the average yield on interest earning assets. The average yield on interest-earning assets for the fourth quarter of 2016 was 4.21% compared to 4.55% for the same period in 2015. The average yield on interest-earning assets for the year ended December 31, 2016 was 4.30% compared to 4.33% for the same period in 2015. The average cost of interest-bearing liabilities increased to 0.54% for the fourth quarter 2016, compared to 0.48% for the same period in 2015. The average cost of interest-bearing liabilities for the years ended December 31, 2016 and 2015 was 0.53%.

Noninterest income is generated primarily through deposit account fee income, profit on sale of mortgage loans, and earnings on life insurance policies. Total noninterest income for the three months ended December 31, 2016 increased to $4.4 million from $3.7 million for the same period in 2015, an 18% increase. Total noninterest income of $16.7 million for the year ended December 31, 2016 increased from $13.5 million for the same period in 2015, a 23% increase. The increases in the three and twelve month comparison periods were primarily due to increases in deposit fee income and gain on sales of mortgage loans. The increase in deposit fee income was primarily due to an increase in deposit accounts resulting from the acquisition of MNB. The increase in gain on sales of loans was due to an increase in the volume of mortgage loans sold.

Total noninterest expense decreased $3.4 million or 20% for the fourth quarter of 2016 compared to the fourth quarter of 2015. Total noninterest expense increased $6.3 million or 12% during the year ended December 31, 2016 compared to 2015. The decrease in total noninterest expense for the three month comparative period was primarily related to transaction costs incurred in connection with the acquisition of MNB in the fourth quarter of 2015. The increase in total noninterest expense for the twelve month comparative period was primarily related to the increase in personnel and overhead costs incurred in connection with the MNB acquisition. The Company’s core efficiency ratio was 63% in the fourth quarter of 2016 compared to 67% in the fourth quarter of 2015.

Income tax provision increased by $1.2 million or 126% for the fourth quarter of 2016 compared to the fourth quarter of 2015. Income tax provision for the year ended December 31, 2016 increased by $2.2 million or 48% compared to the same period in 2015. The increases in income tax provision were a result of an increase in taxable income. For the year ended December 31, 2016, the income tax provision was reduced by $0.9 million due to the reversal of the valuation allowance on the Company’s deferred tax asset in the second quarter of 2016.

The ratio of nonperforming assets to total assets decreased to 0.94% at December 31, 2016, compared to 1.22% at December 31, 2015. The allowance for loan losses represented 1.00% of total loans at December 31, 2016 and 2015. The ratio of allowance for loan losses plus discount on acquired loans to total loans was 1.68% at December 31, 2016, compared to 2.07% at December 31, 2015. The ratio of the allowance for loan losses to nonperforming loans was 90% at December 31, 2016, compared to 75% at December 31, 2015. Annualized net charge-offs as a percentage of average loans for the quarter ended December 31, 2016 was 0.10% compared to 0.08% for the quarter ended December 31, 2015. Provision for loan losses decreased from $866,000 for the fourth quarter of 2015 to $851,000 for the fourth quarter of 2016. Provision for loan losses for the year ended December 31, 2016 was $2.5 million, compared to $1.8 million for the same period in 2015. The increase in the provision is attributable to loan originations and a migration of acquired loans from the purchased loan portfolio to the originated loan portfolio.

About Bear State Financial, Inc.

Bear State Financial, Inc. is the parent company for Bear State Bank. Bear State Financial, Inc. common stock is traded on the NASDAQ Global Market under the symbol BSF.  For more information on Bear State Financial, please visit www.bearstatefinancial.com. Its principal subsidiary, Bear State Bank, is a community oriented financial institution providing a broad line of financial products to individuals and business customers.  Bear State Bank operates 48 branches and three loan production offices throughout Arkansas, Southwest Missouri and Southeast Oklahoma.

Non-GAAP Financial Measures

This release contains certain non-GAAP financial measures in addition to results presented in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP measures provide supplemental perspectives on operating results, performance trends, and financial condition. They are not a substitute for GAAP measures and they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders. The Company utilizes the non-GAAP measure of core earnings, which management believes is useful in evaluating operating trends from period to period, including components of core revenue and core expense. Core earnings and its components exclude amounts that the Company views as unrelated to its normalized operations. Management and the Board of Directors also utilize core earnings or components of core earnings and related ratios in the preparation of the Company’s operating budgets, monthly financial performance reporting and investor presentations of Company performance and in the calculation of annual performance-based incentives for certain members of management. The Company recently modified its definition of core earnings to clarify that a material amount of net gains, losses or impairments to the Company’s real estate owned (“REO”) portfolio during an applicable reporting period will be considered a non-core item and will thus be excluded from core earnings. Immaterial net gains, losses and impairments to the REO portfolio, however, will not be considered a non-core item and will not be excluded from core earnings. The Company believes that while activity within the REO portfolio is a recurring aspect of its core business, material changes to the portfolio are not indicative of the Company’s normalized banking operations.

The Company also reports certain non-GAAP equity measures (including tangible stockholders’ equity, tangible book value per common share and related ratios) that exclude intangible assets from their calculation. Management believes that these non-GAAP tangible measures provide additional useful information about the capital strength of the Company to the investment community, as these measures are widely used by industry analysts for banks and bank holding companies with prior merger and acquisition activity. A reconciliation of non-GAAP financial measures to GAAP measures is included in the accompanying financial tables.

Forward-Looking Statements

This press release contains statements about future events that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “plan,” “intend,” “anticipate,” “expect,” or similar terms or variations of those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in the Company’s filings with the SEC, general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of Bear State Bank’s pricing, products and services, and with respect to the loans extended by Bear State Bank and real estate owned, market prices of the property securing loans and the costs of collection and sales. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.