EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

NOTE 14 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net earnings available to common shareholders by the weighted-average common shares outstanding for the period. There were no net earnings attributable to the noncontrolling interest during the quarter ended June 30, 2022. Diluted earnings per share reflects the maximum potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and would then share in the net earnings of the Company. Dilutive share equivalents include stock-based awards issued to employees.

Stock options granted by the Company are treated as potential shares in computing earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money awards which is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax impact that would be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares.

The computations of basic and diluted earnings per share for the Company were as follows for the:


	Quarter Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net earnings attributable to Guaranty Bancshares, Inc.	$	10,784	$	10,432	$	21,522	$	21,394

Denominator:
Weighted-average shares outstanding (basic)		11,968,227		12,056,550		12,038,261		12,047,643
Effect of dilutive securities:
Common stock equivalent shares from stock options		130,756		195,037		135,252		168,311
Weighted-average shares outstanding (diluted)		12,098,983		12,251,587		12,173,513		12,215,954

Net earnings attributable to Guaranty Bancshares, Inc. per share
Basic	$	0.90	$	0.87	$	1.79	$	1.78
Diluted	$	0.89	$	0.85	$	1.77	$	1.75