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Jun 30, 2024
Guaranty Bancshares Q2 2024 Earnings Report
Guaranty Bancshares reported good financial results, with improved net interest margin and earnings compared to the prior quarter, driven by reverse credit loss provisions and lower expenses.
Key Takeaways
Guaranty Bancshares, Inc. reported a net income available to common shareholders of $7.4 million, or $0.65 per basic share, for the quarter ended June 30, 2024. The increase in earnings during the second quarter of 2024 compared to the first quarter of 2024 was primarily due to the $1.2 million reversal of the provision for credit losses during the second quarter. The decrease in earnings in the second quarter of 2024 compared to the second quarter of 2023 was primarily due to a decrease in noninterest income in the current quarter compared to the prior year quarter.
Net interest margin improved to 3.26% in the second quarter from 3.16% in the first quarter.
Deposit balances remained stable, and the company repaid $30.0 million in FHLB advances.
Credit quality remains manageable with low past-due and charge-off percentages, resulting in a $1.2 million reverse provision for credit losses.
The company is closely monitoring a few borrowers experiencing financial difficulties and has adjusted risk ratings and loss reserve amounts.
Guaranty Bancshares
Guaranty Bancshares
Guaranty Bancshares Revenue by Segment
Revenue by Segment
Commercial & Industrial Revenue
CapyFin.comConstruction & Development Revenue
CapyFin.comCommercial Real Estate Revenue
CapyFin.comFarmland Revenue
CapyFin.com1-4 Family Residential Revenue
CapyFin.comMulti-Family Residential Revenue
CapyFin.comConsumer Revenue
CapyFin.comAgricultural Revenue
CapyFin.comOverdrafts Revenue
CapyFin.com Forward Guidance
The company believes its balance sheet is strong and positioned to go on the offensive as the economy improves and the Bank continues to provide consistent earnings results for shareholders.