EMPLOYEE BENEFITS	12 Months Ended
Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
EMPLOYEE BENEFITS	NOTE 12 - EMPLOYEE BENEFITS KSOP The Company maintains an Employee Stock Ownership Plan containing Section 401(k) provisions covering substantially all employees (“KSOP”). The plan provides for a matching contribution of up to 5% of a participant’s qualified compensation starting January 1, 2016. Guaranty's total contributions accrued or paid during the years ended December 31, 2020, 2019 and 2018 totaled $1,330, $1,270 and $965, respectively, and is included in employee compensation expense on the Company’s consolidated statements of earnings. Benefits under the KSOP generally are distributed to participants in the form of cash, although participants have the right to receive distributions in the form of shares of common stock. As of December 31, 2020 and 2019, the number of shares held by the KSOP was 1,225,828 and 1,224,697, respectively. There were no unallocated shares to plan participants as of December 31, 2020 and 2019. Executive Incentive Retirement Plan The Company established a non-qualified, non-contributory executive incentive retirement plan covering a selected group of key personnel to provide benefits equal to amounts computed under an “award criteria” at various targeted salary levels as adjusted for annual earnings performance of the Company. The plan is non-funded. In connection with the Executive Incentive Retirement Plan, the Company has purchased life insurance policies on the respective officers. The cash surrender value of life insurance policies held by the Company totaled $35,510 and $34,495 as of December 31, 2020 and 2019, respectively. Expense related to these plans totaled $592, $602 and $502 for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in employee compensation and benefits on the Company's consolidated statements of earnings. The recorded liability totaled approximately $4,383 and $4,081 as of December 31, 2020 and 2019, respectively and is included in accrued interest and other liabilities on the Company's consolidated balance sheets. Bonus Plan The Company has a Bonus Plan that rewards officers and employees based on performance of individual business units of the Company. Earnings and growth performance goals for each business unit and for the Company as a whole are established at the beginning of the calendar year and approved annually by the board of directors. The Bonus Plan provides for a predetermined bonus amount to be contributed to the employee bonus pool based on (i) earnings target and growth for individual business units and (ii) achieving certain pre-tax return on average equity and pre-tax return on average asset levels for the Company as a whole. These bonus amounts are established annually by our board of directors. The bonus expense under this plan for the years ended December 31, 2020, 2019 and 2018 totaled $3,164, $3,265 and $2,943, respectively and is included in employee compensation and benefits on the Company's consolidated statements of earnings.

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

NOTE 12 - EMPLOYEE BENEFITS

KSOP

The Company maintains an Employee Stock Ownership Plan containing Section 401(k) provisions covering substantially all employees (“KSOP”). The plan provides for a matching contribution of up to 5% of a participant’s qualified compensation starting January 1, 2016. Guaranty's total contributions accrued or paid during the years ended December 31, 2020, 2019 and 2018 totaled $1,330, $1,270 and $965, respectively, and is included in employee compensation expense on the Company’s consolidated statements of earnings.

Benefits under the KSOP generally are distributed to participants in the form of cash, although participants have the right to receive distributions in the form of shares of common stock.

As of December 31, 2020 and 2019, the number of shares held by the KSOP was 1,225,828 and 1,224,697, respectively. There were no unallocated shares to plan participants as of December 31, 2020 and 2019.

Executive Incentive Retirement Plan

The Company established a non-qualified, non-contributory executive incentive retirement plan covering a selected group of key personnel to provide benefits equal to amounts computed under an “award criteria” at various targeted salary levels as adjusted for annual earnings performance of the Company. The plan is non-funded.

In connection with the Executive Incentive Retirement Plan, the Company has purchased life insurance policies on the respective officers. The cash surrender value of life insurance policies held by the Company totaled $35,510 and $34,495 as of December 31, 2020 and 2019, respectively.

Expense related to these plans totaled $592, $602 and $502 for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in employee compensation and benefits on the Company's consolidated statements of earnings. The recorded liability totaled approximately $4,383 and $4,081 as of December 31, 2020 and 2019, respectively and is included in accrued interest and other liabilities on the Company's consolidated balance sheets.

Bonus Plan

The Company has a Bonus Plan that rewards officers and employees based on performance of individual business units of the Company. Earnings and growth performance goals for each business unit and for the Company as a whole are established at the beginning of the calendar year and approved annually by the board of directors. The Bonus Plan provides for a predetermined bonus amount to be contributed to the employee bonus pool based on (i) earnings target and growth for individual business units and (ii) achieving certain pre-tax return on average equity and pre-tax return on average asset levels for the Company as a whole. These bonus amounts are established annually by our board of directors. The bonus expense under this plan for the years ended December 31, 2020, 2019 and 2018 totaled $3,164,

$3,265 and $2,943, respectively and is included in employee compensation and benefits on the Company's consolidated statements of earnings.