PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

NOTE 26 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of Guaranty Bancshares, Inc. follows:

	2019		2018
ASSETS
Cash and cash equivalents	$	7,264	$	4,111
Investment in banking subsidiaries		268,237		255,637
Other assets		469		384
Total assets	$	275,970	$	260,132
LIABILITIES AND EQUITY
Debt	$	11,563	$	12,810
Accrued expenses and other liabilities		2,856		2,739
Shareholders’ equity		261,551		244,583
Total liabilities and shareholders’ equity	$	275,970	$	260,132

	2019		2018		2017
Interest income	$	15	$	13	$	11
Dividends from Guaranty Bank & Trust		23,000		10,000		—
		23,015		10,013		11
Expenses
Interest expense		653		687		1,024
Other expenses		1,819		2,590		1,682
		2,472		3,277		2,706
Income (loss) before income tax and equity in undistributed income of subsidiary		20,543		6,736		(2,695	)
Income tax benefit		639		482		354
Income (loss) before equity in undistributed earnings of subsidiary		21,182		7,218		(2,341	)
Equity in undistributed earnings of subsidiary		5,097		13,378		16,780
Net earnings	$	26,279	$	20,596	$	14,439
Comprehensive income	$	33,648	$	18,047	$	14,799

	2019			2018			2017
Cash flows from operating activities
Net earnings	$	26,279		$	20,596		$	14,439
Adjustments:
Equity in undistributed subsidiary earnings		(5,097	)		(13,378	)		(16,780	)
Stock based compensation		663			592			355
Change in other assets		85			127			1,270
Change in other liabilities		503			557			1,589
Net cash provided by operating activities		22,433			8,494			873
Cash flows from investing activities
Cash paid in connection with acquisitions		—			(6,423	)		—
Investment in Guaranty Bank & Trust		—			—			(15,000	)
Net cash used in investing activities		—			(6,423	)		(15,000	)
Cash flows from financing activities
Proceeds of borrowings		—			—			2,000
Repayments of borrowings		(2,000	)		(1,000	)		(25,786	)
Sale of common stock		—			—			55,755
Purchase of treasury stock		(10,140	)		(4,265	)		—
Exercise of stock options		925			327			84
Dividends paid		(8,065	)		(7,031	)		(5,562	)
Net cash (used in) provided by financing activities		(19,280	)		(11,969	)		26,491
Net change in cash and cash equivalents		3,153			(9,898	)		12,364
Beginning cash and cash equivalents		4,111			14,009			1,645
Ending cash and cash equivalents	$	7,264		$	4,111		$	14,009