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Mar 31, 2024
Guaranty Bancshares Q1 2024 Earnings Report
Reported good earnings and stable asset quality in the first quarter of 2024.
Key Takeaways
Guaranty Bancshares, Inc. reported a net income available to common shareholders of $6.7 million, or $0.58 per basic share, for the quarter ended March 31, 2024. The increase in earnings during the first quarter of 2024 compared to the fourth quarter of 2023 was primarily due to higher non-interest income and lower non-interest expense.
Net interest margin improved from 3.11% in Q4 2023 to 3.16% in Q1 2024.
Asset quality remains strong with expected losses on deteriorating credits are low.
Total deposits decreased by $5.4 million during the first quarter, but core deposits grew $19.6 million, excluding brokered CDs.
Capital and liquidity ratios remain healthy with a liquidity ratio of 10.6% as of March 31, 2024.
Guaranty Bancshares
Guaranty Bancshares
Forward Guidance
The company did not provide specific forward guidance in the earnings report.