Guaranty Bancshares, Inc. - GNTY STOCK NEWS

Guaranty Bancshares, Inc. (GNTY) reported a net income of $8.3 million for Q1 2023, reflecting a 3.75% increase from Q4 2022 but a 22.2% decline from Q1 2022. Earnings per share rose to $0.69 from $0.67 in the previous quarter. Return on assets and equity were 1.01% and 11.18%, respectively. Noninterest income decreased by 24.3% year-over-year, primarily due to reduced gains from securities and a drop in loan sale profits. Total deposits reacted positively in March 2023, with an increase of $8.3 million, although the year-over-year total showed a decline of 6.2%.

Despite industry challenges, Guaranty Bancshares remains resilient, maintaining a solid balance sheet with robust risk management practices.

Guaranty Bancshares, Inc. (NYSE: GNTY) will host a conference call on April 17, 2023, at 10:00 a.m. CT to discuss its first quarter financial results. An earnings press release will be made available on the same day at 6:00 a.m. CT. The call will be led by key executives including CEO Ty Abston and CFO Cappy Payne. Attendees need to register via the company's website. Guaranty Bancshares operates 32 locations in Texas, with assets totaling $3.4 billion and deposits of $2.7 billion as of December 31, 2022. A recording of the call will be available post-event until April 30, 2023.

The Board of Directors of Guaranty Bancshares (NYSE: GNTY) declared a quarterly cash dividend of $0.23 per share on March 8, 2023, representing a 4.5% increase from the previous $0.22 dividend. This dividend will be paid on April 12, 2023, to stockholders of record as of March 27, 2023. As of December 31, 2022, the company reported total assets of $3.4 billion, total loans of $2.4 billion, and total deposits of $2.7 billion.

Guaranty Bancshares, Inc. (NASDAQ: GNTY) announced the transfer of its voting common stock listing from Nasdaq to the New York Stock Exchange (NYSE), effective March 7, 2023. The transfer aims to enhance visibility and market presence, allowing the company to leverage the NYSE platform. Guaranty Bancshares operates Guaranty Bank & Trust, with a strong footprint in Texas, boasting total assets of $3.4 billion, total loans of $2.4 billion, and total deposits of $2.7 billion as of December 31, 2022. CEO Ty Abston expressed enthusiasm for joining the NYSE, aligning the company with prestigious peers, while NYSE Vice Chair John Tuttle welcomed them for their customer-centric approach.

Guaranty Bancshares, Inc. (NASDAQ:GNTY) has announced a $1 million equity investment in the Austin Housing Conservancy Fund, aimed at enhancing workforce affordable rental housing in Central Texas. The fund, managed by Affordable Central Texas, focuses on multi-family properties for individuals in critical professions. Currently, it owns seven properties with 1,740 units targeted for those earning below 80% of local median income. The initiative aligns with the bank's community reinvestment goals and seeks to preserve over 10,000 rental units over the next decade.

Guaranty Bancshares, Inc. (GNTY) reported fourth-quarter 2022 net income of $8 million ($0.67 per share), a decline from $10.9 million ($0.92 per share) in Q3 2022 and $9.2 million ($0.76 per share) in Q4 2021. A $2.8 million provision for credit losses, up from $600k in Q3 2022, impacted earnings, reflecting economic recession forecasts. Despite this, total net income for 2022 reached $40.4 million, up from $39.8 million in 2021. Loans increased by $112.1 million in Q4 and $470.1 million for the year, while deposits fell by $109.4 million in Q4 but grew $10.3 million year-over-year. The efficiency ratio improved to 62.42% from 63.13% a year ago.

Guaranty Bancshares (NASDAQ: GNTY) has scheduled a conference call on January 17, 2023, at 10:00 am CST to discuss its fourth quarter and year-end 2022 financial results. The earnings press release will be issued the same day at 6:00 am CST. The call will feature executives including Ty Abston, CEO, and Cappy Payne, CFO. Conference attendees must register online, and a recording will be available post-call until January 31, 2023. As of September 30, 2022, GNTY had total assets of $3.29 billion, total loans of $2.27 billion, and total deposits of $2.79 billion.

The Board of Directors of Guaranty Bancshares (NASDAQ: GNTY) has declared a quarterly cash dividend of $0.22 per share, scheduled for payment on January 11, 2023. Stockholders on record as of December 31, 2022 will be eligible. As of September 30, 2022, the company reported total assets of $3.39 billion, total loans of $2.27 billion, and total deposits of $2.79 billion. Guaranty Bancshares operates 32 banking locations across key regions in Texas.