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Mar 31, 2023
Guaranty Bancshares Q1 2023 Earnings Report
Guaranty Bancshares' financial results for Q1 2023 were reported, with net income available to common shareholders at $8.3 million.
Key Takeaways
Guaranty Bancshares reported a net income of $8.3 million, or $0.69 per basic share, for the quarter ended March 31, 2023. The increase in earnings compared to the previous quarter was primarily due to no provision for credit losses in the first quarter of 2023. The company's balance sheet remains strong, with a moderate level of unrealized losses and strong liquidity.
Net income available to common shareholders was $8.3 million, or $0.69 per basic share.
Return on average assets was 1.01% and return on average equity was 11.18%.
Total deposits increased by $8.3 million during March, despite bank failures.
Nonperforming assets as a percentage of total assets were 0.40%.
Guaranty Bancshares
Guaranty Bancshares
Forward Guidance
The company did not provide forward guidance in the earnings report.