Guaranty Bancshares Q2 2023 Earnings Report

Guaranty Bancshares reported financial results for the second quarter of 2023, showing increased net income and strong asset quality.

Key Takeaways

Guaranty Bancshares, Inc. reported a net income available to common shareholders of $9.6 million, or $0.82 per basic share, for the quarter ended June 30, 2023. The increase in earnings compared to the previous quarter was primarily due to a one-time gain on the sale of nonmarketable correspondent bank stock of $2.8 million.

Nonperforming assets as a percentage of total assets were 0.11% at June 30, 2023.

Total deposits decreased by $20.6 million during the second quarter, with a shift from noninterest-bearing to interest-bearing deposits.

During the second quarter of 2023, 322,601 shares were repurchased at an average price of $25.13 per share.

Net interest margin decreased 41 basis points primarily due to interest bearing liabilities repricing faster than interest-earning assets.

Total Revenue

$32.6M

Previous year: $32.9M