Note 21 - Pending Merger

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Business Combination Disclosure [Text Block]

N

OTE

2

1

:     

P

ENDING MERGER

On

November 30, 2017,

the Company entered into an Agreement and Plan of Merger with Hometown Bancshares, Inc., a Missouri corporation (“Hometown”) (the “Agreement”).

  Pursuant to the terms of the Agreement, Hometown will merge into Guaranty, with Guaranty being the surviving corporation. The transaction is expected to close on

April 2, 2018.

Under the terms of the Agreement, each share of Hometown common stock will be exchanged for

$20.00

in cash and the transaction is valued at approximately

$4.6

million. In its

December 31, 2017,

unaudited Consolidated Report of Condition, Hometown Bank, N.A., the subsidiary bank of Hometown, reported total assets of

$179.6

million, total liabilities of

$163.2

million and total equity of

$16.4

million. The Bank reported

$210,000

in net income for the

twelve

months ended

December 31, 2017.

The Company anticipates there will be goodwill and a core deposit intangible recorded with this acquisition.