EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

NOTE 13 - 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. Net losses attributable to the noncontrolling interest during the three months ended March 31, 2024 and 2023 were $7 and $4, respectively, and are excluded from this calculation. 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 diluted 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:


	Three Months Ended March 31,
	2024		2023
Numerator:
Net earnings attributable to Guaranty Bancshares, Inc.	$	6,688	$	8,281

Denominator:
Weighted-average shares outstanding (basic)		11,539,167		11,939,593
Effect of dilutive securities:
Common stock equivalent shares from stock options		59,072		72,411
Weighted-average shares outstanding (diluted)		11,598,239		12,012,004

Net earnings attributable to Guaranty Bancshares, Inc. per share
Basic	$	0.58	$	0.69
Diluted	$	0.58	$	0.69