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Sep 30, 2023
Guaranty Bancshares Q3 2023 Earnings Report
Guaranty Bancshares reported financial results for the third quarter of 2023.
Key Takeaways
Guaranty Bancshares, Inc. reported a net income available to common shareholders of $6.3 million, or $0.54 per basic share, for the quarter ended September 30, 2023. The company's performance was considered adequate despite economic and industry headwinds, with a strong balance sheet and stable core deposit base.
Total deposits increased by $55.5 million during the third quarter, driven by a $75.7 million increase in core deposits.
Nonperforming assets remained low at 0.09% of total assets as of September 30, 2023.
The company repurchased 61,688 shares of stock during the quarter at an average price of $27.38 per share.
Liquidity ratio was 14.0% as of quarter-end, with total available contingent liquidity of $1.2 billion.
Forward Guidance
The company will continue to focus on strategic goals and operational efficiencies to drive long-term shareholder value. They anticipate some borrower stress as loan interest rates reprice, but the loans are conservatively underwritten and many borrowers will continue to experience benefits from the robust economic environment in Texas.
Positive Outlook
- Strong balance sheet
- Stable core deposit base
- Healthy capital levels
- High liquidity
- Conservative loan underwriting
Challenges Ahead
- Economic headwinds
- Industry headwinds
- Slowing economy
- Potential borrower stress as loan interest rates reprice
- Increased scrutiny of CRE loans
Historical Earnings Impact
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Avg. Return Before/After Earnings
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