PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Condensed financial information of Guaranty Bancshares, Inc. follows:

	December 31,
	2021		2020
ASSETS
Cash and cash equivalents	$	2,709	$	1,227
Investment in banking subsidiaries		326,489		305,926
Other assets		627		451
Total assets	$	329,825	$	307,604
LIABILITIES AND EQUITY
Line of credit	$	5,000	$	12,000
Subordinated debentures		19,810		19,810
Accrued expenses and other liabilities		2,801		3,151
Shareholders’ equity		302,214		272,643
Total liabilities and shareholders’ equity	$	329,825	$	307,604

Condensed Income Statement

	For the Years Ended December 31,
	2021		2020			2019
Interest income	$	7	$	10		$	15
Dividends from Guaranty Bank & Trust		18,000		—			23,000
		18,007		10			23,015
Expenses
Interest expense		916		939			653
Other expenses		2,520		2,000			1,819
		3,436		2,939			2,472
Income (loss) before income tax and equity in undistributed income of subsidiary		14,571		(2,929	)		20,543
Income tax benefit		718		574			639
Income (loss) before equity in undistributed earnings of subsidiary		15,289		(2,355	)		21,182
Equity in undistributed earnings of subsidiary		24,517		29,757			5,097
Net earnings	$	39,806	$	27,402		$	26,279
Comprehensive income	$	36,482	$	38,824		$	33,648

Condensed Cash Flow Statement

	2021			2020			2019
Cash flows from operating activities
Net earnings	$	39,806		$	27,402		$	26,279
Adjustments:
Equity in undistributed subsidiary earnings		(24,517	)		(29,757	)		(5,097	)
Stock based compensation		733			749			663
Change in other assets		(176	)		18			85
Change in other liabilities		44			(673	)		503
Net cash (used in) provided by operating activities		15,890			(2,261	)		22,433
Cash flows from investing activities
Net cash provided by investing activities		—			—			—
Cash flows from financing activities
Proceeds of borrowings		10,000			40,000			—
Repayments of borrowings		(17,000	)		(19,000	)		(2,000	)
Purchase of treasury stock		—			(16,927	)		(10,140	)
Exercise of stock options		2,019			638			925
Cash dividends paid		(9,427	)		(8,487	)		(8,065	)
Net cash used in financing activities		(14,408	)		(3,776	)		(19,280	)
Net change in cash and cash equivalents		1,482			(6,037	)		3,153
Beginning cash and cash equivalents		1,227			7,264			4,111
Ending cash and cash equivalents	$	2,709		$	1,227		$	7,264