Guaranty Bancshares, Inc. Reports Fourth Quarter and Year-End 2020 Financial Results

Rhea-AI Summary

Guaranty Bancshares (NASDAQ: GNTY) reported Q4 2020 net income of $9.9 million ($0.90 per share), slightly down from Q3 2020 but up from $7.4 million in Q4 2019. The company’s total assets rose to $2.74 billion, with gross loans decreasing 4.7% from Q3 2020, while deposits increased by 2.8%. The net interest margin improved to 3.85%, driven by a 7.5% rise in net interest income. Noninterest income grew 37.5% year-over-year. The company maintained strong asset quality with non-performing loans at 0.70%. Management emphasizes resilience and positive prospects for 2021 amidst ongoing economic uncertainties.

Positive

• Net income of $9.9 million for Q4 2020, up 33.8% YoY.
• Total assets increased to $2.74 billion, reflecting growth in deposits.
• Net interest margin improved to 3.85%, up from 3.61% in Q3 2020.
• Noninterest income increased by 37.5% YoY to $6.4 million.

Negative

• Net income decreased slightly from $10.1 million in Q3 2020.
• Gross loans decreased by 4.7% from Q3 2020, indicating potential tightening of credit.
• COVID-related uncertainties may impact future loan performance and provisions.

Guaranty Bancshares, Inc. (NASDAQ: GNTY), the parent company of Guaranty Bank & Trust, N.A., today reported financial results for the fiscal quarter and year ended December 31, 2020. The Company's net income available to common shareholders was $9.9 million, or $0.90 per basic share, for the quarter ended December 31, 2020, compared to $10.1 million, or $0.92 per basic share, for the quarter ended September 30, 2020 and $7.4 million, or $0.64 per basic share, for the quarter ended December 31, 2019. Return on average assets and average equity for the fourth quarter of 2020 were 1.48% and 14.53%, respectively, compared to 1.53% and 15.21%, respectively, for the third quarter of 2020 and 1.25% and 11.24%, respectively, for the fourth quarter of 2019. The increase in earnings during the third and fourth quarters of 2020, compared to the fourth quarter of 2019, was largely due to the forgiveness and amortization of Paycheck Protection Program (“PPP”) loans and recognition of associated loan origination fees, as well as increased non-interest income from mortgage and warehouse lending activities and decreases in interest expense relative to interest income. Net core earnings, excluding provisions for loan losses and income taxes and PPP net origination income, as well as our core net interest margin, adjusted to exclude the effects of PPP loans, are described further in tables below.

"Despite the many challenges endured by our customers and employees during 2020, we are pleased with the Company’s operating and financial results for fourth quarter and for the year. Throughout 2020, we worked diligently with our employees to follow strong safety protocols and to provide technology that allows them to work remotely when necessary. We participated in the SBA’s PPP loan program and worked with our customers to provide temporary payment or interest-only deferrals. We closely analyzed our loan portfolio and increased our reserves for credit losses due to the ongoing uncertainty of the impact and timing of possible economic hardships resulting from COVID-19. We gave back to our communities through monetary and volunteer donations to non-profits that support those impacted by the virus. Texas has proven to be a very resilient economy and it is in a strong position to rebound when the vaccines are readily available and the virus begins to subside. As our fourth quarter and year-end results indicate, our Bank continues to provide a solid core earnings foundation, sustainable net interest margin and very strong asset quality, all of which contribute to strong shareholder prospects. We look forward to 2021 and the ability for our communities, employees and customers to return to a more normal and social lifestyle," commented Ty Abston, the Company's Chairman and Chief Executive Officer.

QUARTERLY AND ANNUAL HIGHLIGHTS

• Strong Net Earnings. Net earnings for the quarter were $9.9 million, down slightly from $10.1 million for the immediately prior quarter and up from $7.4 million for the same quarter of 2019. Net core earnings^†, which exclude provisions for loan losses and income tax, net PPP income, and interest on PPP-related borrowings, were $9.6 million for the fourth quarter, compared to $11.1 million for the third quarter of 2020, and $8.9 million during the fourth quarter of 2019.
  
  Net earnings for the year were $27.4 million, up from $26.3 million for the year ended 2019. Net core earnings^† were $40.3 million for the year ended December 31, 2020, compared to $33.3 million for the same period in 2019.
• Solid Net Interest Margin. The fully tax-equivalent (“FTE”) net interest margin was 3.85% for the fourth quarter of 2020, compared to 3.61% in the preceding quarter and 3.77% in the fourth quarter of 2019. Net interest income increased $1.7 million, or 7.5%, from $22.3 million in the third quarter of 2020 to $24.0 million in the fourth quarter of 2020. Interest expense decreased $376,000, or 14.0%, from $2.7 million in the third quarter of 2020 to $2.3 million in fourth quarter of 2020. The Bank continues to decrease cost of funds as higher rate CDs mature and to reduce interest rates on non-maturing deposits as market conditions allow. In addition, 63.9% of the loan portfolio, or $1.1 billion, has interest rate floors and 51.7% of those loans are currently at their loan floor. The weighted average interest rate of loans currently at their floor is 4.49%.
• Steady Credit Quality and Reduced Deferrals. Non-performing assets as a percentage of total loans were 0.70% at December 31, 2020, compared to 0.72% at September 30, 2020 and December 31, 2019. Net charge-offs to average loans (annualized) were 0.03% at December 31, 2020, compared to 0.01% at September 30, 2020, and 0.04% at December 31, 2019. The level of initial COVID-related loan deferrals provided by the Bank during the first and second quarters of 2020 has declined significantly, with information about subsequent deferrals made on those loans described further in the Financial Condition section below.
  
  The Bank had no provision for loan losses during the quarter, compared to a $300,000 provision reversal in the third quarter of 2020 and no provision in the fourth quarter of 2019. The lack of provision expense and provision reversal during these quarters is indicative of our allowance for credit losses methodology and adoption of the Current Expected Credit Losses (“CECL”) model during 2020. Additionally, in the second quarter of 2020, qualitative factor adjustments were made in our CECL model, primarily derived from changes in national GDP, Texas unemployment rates and national industry-related CRE trends, all of which are impacted by the effects of COVID-19 and resulted in the $12.1 million provision expense during second quarter. Qualitative factor adjustments made in the first half of 2020 remained consistent in the second half of 2020 because our CECL model assumes certain lag time in estimated losses that may occur as a result of the pandemic and due to the continued uncertainty surrounding the virus and timing of economic recovery. As of December 31, 2020, the Bank’s allowance for credit losses to gross loans is 1.80%, or 1.95% excluding PPP loan balances.

† Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.

RESULTS OF OPERATIONS

Large provisions for credit losses in the second quarter of 2020 resulting from effects of COVID-19 and participation in the PPP program have created temporary extraordinary results in the calculation of net earnings and related performance ratios. With the credit outlook still uncertain as a result of COVID-19 and other economic factors, the following table illustrates net earnings and net core earnings results, which are pre-tax, pre-provision and pre-extraordinary PPP income, as well as performance ratios for the prior five quarters:

		Quarter Ended
		2020																2019
$ in thousands ('000s)		December 31				September 30				June 30				March 31				December 31
Net earnings		$	9,915			$	10,134			$	1,075			$	6,278			$	7,369
Adjustments:
Provision for credit losses			—				(300	)			12,100				1,400				—
Income tax provision (benefit)			2,290				2,350				(190	)			1,445				1,573
PPP loans, including fees			(2,654	)			(1,076	)			(2,540	)			—				—
Net interest expense on PPP-related borrowings			—				3				31				—				—
Net core earnings†		$	9,551			$	11,111			$	10,476			$	9,123			$	8,942
Total average assets		$	2,659,725			$	2,639,335			$	2,657,609			$	2,325,618			$	2,341,766
Adjustments:
PPP loans average balance			(179,240	)			(209,506	)			(163,184	)			—				—
Excess fed funds sold due to PPP-related borrowings			—				(8,152	)			(84,066	)			—				—
Total average assets, adjusted†		$	2,480,485			$	2,421,677			$	2,410,359			$	2,325,618			$	2,341,766
Total average equity		$	271,397			$	265,027			$	258,225			$	251,159			$	260,160
PERFORMANCE RATIOS
Net earnings to average assets (annualized)			1.48	%			1.53	%			0.16	%			1.09	%			1.25	%
Net earnings to average equity (annualized)			14.53				15.21				1.67				9.94				11.24
Net core earnings to average assets, as adjusted (annualized)†			1.53				1.83				1.75				1.58				1.51
Net core earnings to average equity (annualized)†			14.00				16.68				16.32				14.61				13.64
PER COMMON SHARE DATA
Weighted-average common shares outstanding, basic			10,966,504				11,012,060				11,025,924				11,432,391				11,533,849
Earnings per common share, basic		$	0.90			$	0.92			$	0.10			$	0.55			$	0.64
Net core earnings per common share, basic†			0.87				1.01				0.95				0.80				0.78
† Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.

Net interest income, before the provision for loan losses, in the fourth quarter of 2020 and 2019 was $24.0 million and $20.5 million, respectively, an increase of $3.5 million, or 16.9%, resulting primarily from a decrease in deposit-related interest expense of $3.1 million, or 62.4%, compared to the same quarter of the prior year. Net interest income, before the provision for loan losses, in the third and fourth quarters of 2020 was $22.3 million and $24.0 million, respectively; an increase of $1.7 million, or 7.5%, resulting primarily from an increase in loan income of $1.3 million, or 5.8%, during the current quarter.

Net interest margin, on a taxable equivalent basis, for the fourth quarter of 2020 and 2019 was 3.85% and 3.77%, respectively. Loan yield decreased from 5.32% for the fourth quarter of 2019 to 4.93% for the fourth quarter of 2020, a change of 39 basis points, while the cost of interest-bearing deposits decreased from 1.35% to 0.51% during the same period, a change of 84 basis points. The decrease in loan yield was primarily due to the repricing of variable rate loans to lower interest rates during the period. The decrease in average deposit rate was primarily due to continued reductions in interest rates for non-maturing deposits as market conditions have allowed.

Net interest margin, on a taxable equivalent basis, increased from 3.61% in the third quarter of 2020 to 3.85% in the fourth quarter of 2020. Loan yield increased from 4.59% for the third quarter of 2020 to 4.93% for the fourth quarter of 2020, a change of 34 basis points due primarily to the effect of PPP loans during the third and fourth quarters of 2020. Loan yield, excluding the effect PPP loans, decreased seven basis points from the third quarter to the fourth quarter of 2020, due to the continued repricing of variable rate loans to lower interest rates. The cost of interest-bearing deposits decreased from 0.63% to 0.51% during the same period, a change of 12 basis points. These decreases were due primarily to the maturity of higher-rate CDs during the fourth quarter of 2020, as well as continued reductions in interest rates for non-maturing deposits as market conditions have allowed.

The Bank’s continued participation in the PPP program has created temporary extraordinary results in the calculation of net interest margin. To illustrate core net interest margin, the table below excludes PPP loans and their associated fees and costs, as well as the average balance of related FHLB borrowings and fed funds sold, for the three months and year ended December 31, 2020:

		For the Three Months Ended December 31, 2020												For the Year Ended December 31, 2020
$ in thousands ('000s)		Average Outstanding Balance				Interest Earned/ Interest Paid				Average Yield/ Rate				Average Outstanding Balance				Interest Earned/ Interest Paid				Average Yield/ Rate
Total interest-earning assets		$	2,496,945			$	26,253				4.18	%		$	2,404,779			$	103,042				4.28	%
Adjustments:
PPP loans average balance and net fees(1)			(179,240	)			(2,654	)			5.89				(138,291	)			(6,270	)			4.53
Excess fed funds sold due to PPP-related borrowings			—				—				—				(22,951	)			(23	)			0.10
Total interest-earning assets, net of PPP effects†		$	2,317,705			$	23,599				4.05	%		$	2,243,537			$	96,749				4.31	%
Interest expense adjustment:
PPP-related FHLB borrowings			—				—				—				(22,951	)			(57	)			0.25
Net interest income						$	23,952											$	89,982
Net interest margin(2)											3.82	%											3.74	%
Net interest margin, FTE(3)											3.85												3.77
Net interest income, net of PPP effects†							21,298												83,746
Net interest margin, net of PPP effects†(4)											3.66												3.73
Net interest margin, FTE, net of PPP effects†(5)											3.70												3.77
Efficiency ratio(6)											59.82												58.86
Efficiency ratio, net of PPP effects†(7)											65.55												63.10

† Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.
(1) Interest earned consists of interest income of $470,000 and $1.4 million, and net origination fees recognized in earnings of $2.2 million and $4.9 million for the three months and year ended December 31, 2020
(2) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. Taxes are not a part of this calculation.
(3) Net interest margin on a taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%.
(4) Net interest margin is equal to net interest income, net of PPP effects, divided by average interest-earning assets, annualized. Taxes are not a part of this calculation.
(5) Net interest margin on a taxable equivalent basis is equal to net interest income, net of PPP effects, adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%.
(6) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation.
(7) The efficiency ratio was calculated by dividing total noninterest expense, net of PPP-related deferred costs, by net interest income, net of PPP effects, plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation.

The Bank adopted the CECL standard (Accounting Standards Update 2016-13 or ASC 326) on January 1, 2020. The day one impact of adopting CECL resulted in an allowance increase of $4.5 million, or 28.1%, from December 31, 2019. There was no provision for loan losses during the fourth quarter of 2020 and 2019, compared to provision reversal of $300,000 in the third quarter of 2020. The provision expense recorded during the first half of 2020 resulted largely from additional qualitative factors, primarily derived from changes in national GDP, Texas unemployment rates and national industry related CRE trends, all of which were impacted by the effects of COVID-19. Other provision increases in the first half of 2020 resulted from detailed review of the loan portfolio and from discussions with borrowers about their financial hardships, if any, which led to downgrades of loans in loans and industries affected by the crisis to appropriate risk ratings given the expected impacts of COVID-19. Management believes the provisions made in both the first and second quarter, as a result of risk rating downgrades and qualitative factor adjustments in the CECL model, appropriately capture the current credit risks associated with COVID-19. During the third and fourth quarters of 2020, qualitative factor adjustments remained consistent because our CECL model assumes a lag in estimated losses as a result of economic declines caused by the virus. During the third quarter of 2020, loan balances declined in certain pooled segments that contain higher allowance allocation factors, resulting in a lower calculated allowance for credit losses and a reverse provision of $300,000. Furthermore, a new round of stimulus has been introduced (known as “PPP-2”), which is an indication that the economic effects of the pandemic may be longer lasting than initially predicted. It is possible that the economic effects of the pandemic could continue throughout and even beyond the 2021 year, and the long term economic impacts of COVID-19 and the response of governments and our customers are still unknown.

Noninterest income increased $1.8 million, or 37.5%, in the fourth quarter of 2020, to $6.4 million, compared to $4.7 million for the fourth quarter of 2019. The increase from the same quarter in 2019 was due primarily to an increase in the gain on sale of loans of $1.2 million, or 159.4%, and an increase in merchant and debit card fees of $256,000, or 22.5%, from the same quarter of the prior year. The remaining increase resulted from a $163,000 increase in mortgage and warehouse fee income and a $70,000 increase on gains on sale of assets and ORE. These increases were partially offset by a $154,000, or 15.1%, decrease in service charges during the fourth quarter of 2020, as compared to the same quarter of 2019, due primarily to lower insufficient funds fees as consumers are transitioning to more digital spending methods.

Noninterest income decreased $237,000, or 3.6%, to $6.4 million in the fourth quarter of 2020, compared to $6.7 million for the quarter ended September 30, 2020. This was primarily attributable to a decrease in merchant and debit card fees caused by the receipt of approx. $190,000 from an annual contract incentive payment from the debit card processor in the third quarter that was not present in the fourth quarter 2020, as well as a decrease in the gain on sale of loans of $91,000, or 4.3%, during the fourth quarter. These were partially offset by an increase in service charges of $151,000, or 21.1%.

Noninterest expense increased $1.9 million, or 12.0%, in the fourth quarter of 2020, compared to the fourth quarter of 2019. The increase in noninterest expense in the fourth quarter of 2020 was primarily driven by an increase in employee compensation and benefits expense of $879,000, or 9.4%, to $10.2 million, from the same quarter of the prior year, as well as an increase in legal and professional fees of $357,000, or 58.4%. Additional increases were due to the effects of a $252,000, or 100%, increase in FDIC insurance assessment fees during the fourth quarter of 2020 due to FDIC assessment credits of $534,000 that were received and recognized during the prior year. Software and technology expense also increased $225,000, or 24.9%, as a result of new software and hardware investments to allow employees to securely work from home and to improve online deposit account opening. Occupancy expenses increased $98,000, or 3.9%, from the same quarter of the prior year and there was an increase in ATM and debit card expense of $89,000, or 19.5%, resulting from increased usage of ATM and debit cards during the period. The company’s efficiency ratio in the fourth quarter of 2020 was 59.82%, compared to 64.47% in the same quarter last year. Adjusted to remove the effects of PPP-related transactions, the company’s efficiency ratio^† for the fourth quarter of 2020 was 65.55%.

Noninterest expense increased $1.4 million, or 8.4%, in the fourth quarter of 2020 to $18.2 million, compared to the quarter ended September 30, 2020. The increase was primarily due to a $772,000, or 8.2%, increase in employee compensation and benefits associated with the resumption of normal levels of employee bonus accruals through the end of the year, as well as a $394,000, or 68.6%, increase in legal and professional fees during the quarter resulting from recruiting costs and additional audit and legal fees. The company’s efficiency ratio in the fourth quarter of 2020 was 59.82%, compared to 57.90% in the prior quarter. Adjusted to remove the effects of PPP-related transactions, the company’s efficiency ratio^† for the fourth quarter of 2020 was 65.55% and for the third quarter of 2020 was 60.22%.

† Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.

FINANCIAL CONDITION

Consolidated assets for the company totaled $2.74 billion at December 31, 2020, compared to $2.66 billion at September 30, 2020 and $2.32 billion at December 31, 2019. Gross loans decreased 4.7%, or $91.8 million, to $1.87 billion at December 31, 2020, compared to loans of $1.96 billion at September 30, 2020. Gross loans increased 9.4%, or $160.4 million, from $1.71 billion at December 31, 2019. The increase in gross loans during the fourth quarter of 2020 compared to the fourth quarter of 2019 included outstanding PPP loan balances of $139.8 million, to 1,452 borrowers, as of December 31, 2020. Excluding the outstanding PPP balances as of December 31, 2020, gross loans increased $20.6 million, or 1.21%. The decrease in gross loans from the third quarter of 2020 to the fourth quarter of 2020 is primarily due to the $70.0 million, or 33.3%, decline in outstanding PPP loan balances in the fourth quarter of 2020. Excluding the decrease in the balance of PPP loans, gross loans decreased by 1.1%, or $22.0 million, from the prior quarter.

Deposits increased by 2.8%, or $63.3 million, to $2.29 billion at December 31, 2020, compared to $2.22 billion at September 30, 2020. Total deposits increased 16.8%, or $329.6 million, from $1.96 billion at December 31, 2019. Changes in deposits during these periods were heavily impacted by the deposit of PPP loan proceeds into demand accounts at the Bank, as well as apparent changes in depositor spending habits in these periods resulting from economic and other uncertainties due to COVID-19. Shareholders' equity totaled $272.6 million as of December 31, 2020, compared to $266.9 million at September 30, 2020 and $261.6 million at December 31, 2019. The increase from the previous quarter resulted primarily from an increase in net income of $10.0 million, offset by the purchase of treasury stock during the quarter of $2.8 million and the payment of dividends of $2.2 million.

Nonperforming assets as a percentage of total loans were 0.70% at December 31, 2020, compared to 0.72% at September 30, 2020 and December 31, 2019. The Bank’s nonperforming assets consist primarily of nonaccrual loans, three of which are Small Business Administration (SBA) 7(a), partially guaranteed (75%) loans acquired in the June 2018 acquisition of Westbound Bank with combined book balances of $8.7 million as of December 31, 2020. These loans were internally identified as problem assets prior to COVID-19 and are properly reserved. Management continues to work toward a satisfactory resolution for these three loans. Excluding these partially guaranteed SBA loans, non-performing assets as a percentage of total loans at December 31, 2020 would be 0.29% and, excluding PPP loans, would be 0.32%.

During the first and second quarters of 2020, the Bank provided financial relief to many of its customers due to the COVID-19 outbreak through either 3-month principal and interest (“P&I”) payment deferrals or through 6-month interest-only (“I/O”) deferrals. Under the initial deferral program, the Bank provided 3-month P&I deferrals on 658 loans with principal balances of $247.8 million and provided up to 6-month I/O deferrals on 336 loans with principal balances of $183.7 million. As of January 14, 2021, there are 16 loans totaling $50.4 million that remain under a deferral program. There are three loans with outstanding balances of $1.4 million that remain under their initial 6-month I/O deferral. There are 12 loans with principal balances of $46.6 million that have entered a subsequent interest-only deferral. There is one loan with a principal balance of $2.4 million that has entered a subsequent P&I deferral. We will continue to work with these borrowers, who are primarily in the hotel, restaurant and hospitality industries, to allow their businesses and payment sources to recover to normal levels.

The table below provides detail about the current I/O and P&I and deferral programs as of January 14, 2021:

		As of January 14, 2021
$ in thousands ('000s)		I/O Deferred				P&I Deferred
CRE - owner occupied		$	3,903			$	—
CRE - non-owner occupied			2,403				2,425
Construction and development			679				—
Commercial and industrial			51				—
Subtotal - deferrals, excluding COVID higher risk industries		$	7,036			$	2,425
COVID higher risk industries (excluded from segment subtotals above):
Restaurant		$	3,984			$	—
Hotel			36,979				—
Subtotal - deferrals of COVID higher risk industries		$	40,963			$	—
Total of all deferrals		$	47,999			$	2,425
% of total loans, excluding PPP			2.8	%			0.1	%

Finally, management continues to closely monitor loans and concentrations in COVID-19 affected industries. Social distancing, stay-at-home orders and other measures as a result of the virus have particularly affected the restaurant, hospitality, retail commercial real estate (“CRE”) and energy sectors. Excluding SBA partially guaranteed (75%) loans, the Bank has direct exposure, through total loan commitments with weighted average loan-to-values (“LTV”), as of December 31, 2020, of $26.4 million with 60.5% weighted average LTV to restaurants, $56.1 million with 51.5% weighted average LTV to retail CRE and $67.0 million with 56.5% weighted average LTV to hotel/hospitality borrowers.

Guaranty Bancshares, Inc.
Consolidated Financial Summary (Unaudited)
(In thousands, except share and per share data)
		As of
		2020																2019
		December 31				September 30				June 30				March 31				December 31
ASSETS
Cash and due from banks		$	47,836			$	35,714			$	35,490			$	40,354			$	39,907
Federal funds sold			218,825				101,300				104,375				81,250				45,246
Interest-bearing deposits			85,130				56,357				51,129				25,324				5,561
Total cash and cash equivalents			351,791				193,371				190,994				146,928				90,714
Securities available for sale			380,795				368,887				376,381				377,062				212,716
Securities held to maturity			—				—				—				—				155,458
Loans held for sale			5,542				9,148				7,194				4,024				2,368
Loans, net			1,831,737				1,921,234				1,919,201				1,696,861				1,690,794
Accrued interest receivable			9,834				8,361				11,864				8,148				9,151
Premises and equipment, net			55,212				55,468				55,251				54,496				53,431
Other real estate owned			404				310				402	{ "@context": "https://schema.org", "@type": "FAQPage", "name": "Guaranty Bancshares, Inc. Reports Fourth Quarter and Year-End 2020 Financial Results FAQs", "mainEntity": [ { "@type": "Question", "name": "What were the financial results of Guaranty Bancshares for Q4 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Guaranty Bancshares reported a net income of $9.9 million for Q4 2020, or $0.90 per share." } }, { "@type": "Question", "name": "How did Guaranty Bancshares' total assets change in Q4 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Total assets increased to $2.74 billion at December 31, 2020." } }, { "@type": "Question", "name": "What is the current net interest margin for GNTY?", "acceptedAnswer": { "@type": "Answer", "text": "The net interest margin improved to 3.85% for Q4 2020." } }, { "@type": "Question", "name": "How did noninterest income perform for GNTY in Q4 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Noninterest income increased by 37.5% year-over-year to $6.4 million." } }, { "@type": "Question", "name": "What is the status of Guaranty Bancshares' loan portfolio?", "acceptedAnswer": { "@type": "Answer", "text": "Gross loans decreased 4.7% from Q3 2020, highlighting potential credit tightening." } } ] } FAQ What were the financial results of Guaranty Bancshares for Q4 2020? Guaranty Bancshares reported a net income of $9.9 million for Q4 2020, or $0.90 per share. How did Guaranty Bancshares' total assets change in Q4 2020? Total assets increased to $2.74 billion at December 31, 2020. What is the current net interest margin for GNTY? The net interest margin improved to 3.85% for Q4 2020. How did noninterest income perform for GNTY in Q4 2020? Noninterest income increased by 37.5% year-over-year to $6.4 million. What is the status of Guaranty Bancshares' loan portfolio? Gross loans decreased 4.7% from Q3 2020, highlighting potential credit tightening. Guaranty Bancshares, Inc. NYSE:GNTY GNTY Rankings #3260 Ranked by Market Cap #1184 Ranked by Dividends GNTY Latest News Oct 21, 2024 Guaranty Bancshares, Inc. Reports Third Quarter 2024 Financial Results Oct 3, 2024 Guaranty Bancshares, Inc. Announces Third Quarter 2024 Earnings Release and Conference Call Schedule Sep 19, 2024 Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend Jul 15, 2024 Guaranty Bancshares, Inc. Reports Second Quarter 2024 Financial Results Jul 1, 2024 Guaranty Bancshares, Inc. Announces Second Quarter 2024 Earnings Release and Conference Call Schedule GNTY Stock Data Market Cap 428.51M Float 8.45M Insiders Ownership 25.92% Institutions Ownership 26.94% Short Percent 0.44% Industry Banks - Regional Sector National Commercial Banks Website Link Country United States of America City MOUNT PLEASANT Explore About Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Links RSS feed Patreon Discord Server Facebook Reddit Google News © 2020-2024 StockTitan.net