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CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans, including fees $ 35,491,000 $ 32,157,000
Securities    
Taxable 3,219,000 2,814,000
Nontaxable 1,165,000 1,304,000
Nonmarketable equity securities 248,000 419,000
Federal funds sold and interest-bearing deposits 629,000 450,000
Total interest income 40,752,000 37,144,000
Interest expense    
Deposits 14,459,000 7,655,000
FHLB advances and federal funds purchased 1,920,000 3,774,000
Subordinated debentures 517,000 540,000
Other borrowed money 269,000 13,000
Total interest expense 17,165,000 11,982,000
Net interest income 23,587,000 25,162,000
Reversal of provision for credit losses (250,000) 0
Net interest income after reversal of provision for credit losses 23,837,000 25,162,000
Noninterest income    
Service charges 1,069,000 1,077,000
Net realized gain on sales of securities available for sale 0 93,000
Net realized gain on sale of loans 272,000 314,000
Merchant and debit card fees 1,706,000 1,674,000
Other income 2,211,000 1,747,000
Total noninterest income 5,258,000 4,905,000
Noninterest expense    
Employee compensation and benefits 12,437,000 12,264,000
Occupancy expenses 2,747,000 2,830,000
Other expenses 5,508,000 4,873,000
Total noninterest expense 20,692,000 19,967,000
Income before income taxes 8,403,000 10,100,000
Income tax provision 1,722,000 1,823,000
Net earnings 6,681,000 8,277,000
Net loss attributable to noncontrolling interest 7,000 4,000
Net earnings attributable to Guaranty Bancshares, Inc. $ 6,688,000 $ 8,281,000
Basic earnings per share $ 0.58 $ 0.69
Diluted earnings per share $ 0.58 $ 0.69