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CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Loans, including fees $ 34,765,000 $ 27,455,000 $ 100,513,000 $ 74,314,000
Securities        
Taxable 2,906,000 3,331,000 8,561,000 8,133,000
Nontaxable 1,150,000 1,324,000 3,649,000 3,764,000
Nonmarketable equity securities 304,000 172,000 1,024,000 869,000
Federal funds sold and interest-bearing deposits 693,000 194,000 1,949,000 409,000
Total interest income 39,818,000 32,476,000 115,696,000 87,489,000
Interest expense        
Deposits 13,069,000 2,455,000 30,670,000 5,320,000
FHLB advances and federal funds purchased 2,588,000 1,211,000 9,711,000 1,447,000
Subordinated debentures 534,000 509,000 1,609,000 1,208,000
Other borrowed money 325,000 4,000 539,000 43,000
Total interest expense 16,516,000 4,179,000 42,529,000 8,018,000
Net interest income 23,302,000 28,297,000 73,167,000 79,471,000
Provision for (reversal of provision for) credit losses 0 600,000 0 (650,000)
Net interest income after reversal of provision for credit losses 23,302,000 27,697,000 73,167,000 80,121,000
Noninterest income        
Service charges 1,131,000 1,146,000 3,264,000 3,192,000
Net realized loss on sales of securities available for sale 0 0 (229,000) 0
Net realized gain on sale of loans 218,000 338,000 1,005,000 2,125,000
Merchant and debit card fees 1,752,000 1,738,000 5,547,000 5,410,000
Other income 1,838,000 2,581,000 8,130,000 7,636,000
Total noninterest income 4,939,000 5,803,000 17,717,000 18,363,000
Noninterest expense        
Employee compensation and benefits 11,944,000 11,851,000 36,147,000 35,113,000
Occupancy expenses 2,960,000 2,800,000 8,544,000 8,359,000
Other expenses 5,610,000 5,586,000 16,261,000 15,538,000
Total noninterest expense 20,514,000 20,237,000 60,952,000 59,010,000
Income before income taxes 7,727,000 13,263,000 29,932,000 39,474,000
Income tax provision 1,437,000 2,363,000 5,789,000 7,070,000
Net earnings 6,290,000 10,900,000 24,143,000 32,404,000
Net loss attributable to noncontrolling interest 7,000 3,000 16,000 21,000
Net earnings attributable to Guaranty Bancshares, Inc. $ 6,297,000 $ 10,903,000 $ 24,159,000 $ 32,425,000
Basic earnings per share $ 0.54 $ 0.92 $ 2.06 $ 2.7
Diluted earnings per share $ 0.54 $ 0.91 $ 2.05 $ 2.68