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CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans, including fees $ 35,009 $ 33,591 $ 70,500 $ 65,748
Securities        
Taxable 3,506 2,841 6,725 5,655
Nontaxable 1,093 1,195 2,258 2,499
Nonmarketable equity securities 280 301 528 720
Federal funds sold and interest-bearing deposits 825 806 1,454 1,256
Total interest income 40,713 38,734 81,465 75,878
Interest expense        
Deposits 14,824 9,946 29,283 17,601
FHLB advances and federal funds purchased 1,207 3,349 3,127 7,123
Subordinated debentures 511 535 1,028 1,075
Other borrowed money 291 201 560 214
Total interest expense 16,833 14,031 33,998 26,013
Net interest income 23,880 24,703 47,467 49,865
Reversal of provision for credit losses (1,200) 0 (1,450) 0
Net interest income after reversal of provision for credit losses 25,080 24,703 48,917 49,865
Noninterest income        
Service charges 1,098 1,056 2,167 2,133
Net realized loss on sales of securities available for sale 0 (322) 0 (229)
Net realized gain on sale of loans 227 473 499 787
Merchant and debit card fees 2,122 2,121 3,828 3,795
Other income 1,152 4,545 3,363 6,292
Total noninterest income 4,599 7,873 9,857 12,778
Noninterest expense        
Employee compensation and benefits 11,723 11,939 24,160 24,203
Occupancy expenses 2,924 2,754 5,671 5,584
Other expenses 5,955 5,778 11,463 10,651
Total noninterest expense 20,602 20,471 41,294 40,438
Income before income taxes 9,077 12,105 17,480 22,205
Income tax provision 1,654 2,529 3,376 4,352
Net earnings 7,423 9,576 14,104 17,853
Net loss attributable to noncontrolling interest 12 5 19 9
Net earnings attributable to Guaranty Bancshares, Inc. $ 7,435 $ 9,581 $ 14,123 $ 17,862
Basic earnings per share $ 0.65 $ 0.82 $ 1.23 $ 1.51
Diluted earnings per share $ 0.65 $ 0.81 $ 1.22 $ 1.5