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Dec 31, 2020
Guaranty Bancshares Q4 2020 Earnings Report
Reported strong financial results for the fourth quarter and year-end, driven by PPP loan forgiveness and increased non-interest income, while maintaining solid asset quality.
Key Takeaways
Guaranty Bancshares reported net income available to common shareholders of $9.9 million, or $0.90 per basic share, for the quarter ended December 31, 2020, compared to $7.4 million, or $0.64 per basic share, for the quarter ended December 31, 2019. The increase in earnings was largely due to the forgiveness and amortization of PPP loans, increased non-interest income, and decreases in interest expense relative to interest income.
Net earnings for the quarter were $9.9 million, up from $7.4 million for the same quarter of 2019.
The fully tax-equivalent net interest margin was 3.85% for the fourth quarter of 2020, compared to 3.77% in the fourth quarter of 2019.
Non-performing assets as a percentage of total loans were 0.70% at December 31, 2020, compared to 0.72% at December 31, 2019.
Noninterest income increased 37.5% in the fourth quarter of 2020, to $6.4 million, compared to $4.7 million for the fourth quarter of 2019.
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