Guaranty Bancshares (GNTY) Reports Strong Q4 Results

By Tamara Parker • Tuesday, January 21 10:22 • Permanent Link

Guaranty Bancshares, Inc. (NYSE: GNTY) has reported its financial results for the fourth quarter and year-end 2024. The net income available to common shareholders for the quarter ended December 31, 2024, was $10.0 million, or $0.88 per basic share, showing a significant increase from $7.4 million, or $0.65 per basic share, for the previous quarter and $5.9 million, or $0.51 per basic share, for the same quarter in 2023.

Return on average assets and average equity for the fourth quarter of 2024 increased to 1.27% and 12.68%, respectively, compared to 0.96% and 9.58%, respectively, for the third quarter of 2024 and 0.73% and 7.93%, respectively, for the fourth quarter of 2023.

The company's net interest margin grew to 3.54% for the fourth quarter of 2024, compared to 3.33% in the third quarter and 3.11% in the prior year quarter. For the year ended December 31, 2024, net interest margin improved to 3.32% compared to 3.15% in 2023. The total net income for 2024 was $31.5 million, showing an increase of 5.0% from $30.0 million in 2023.

Guaranty Bancshares strategically shrank its balance sheet during 2024 to build liquidity and capital, ending the year with strong key performance metrics and very low non-performing assets. The liquidity ratio was 16.5% as of December 31, 2024, compared to 12.2% as of December 31, 2023. Total available contingent liquidity, net of current outstanding borrowings, was $1.3 billion.

The company's efficiency ratio for the fourth quarter of 2024 was 62.23%, showing a significant improvement from 74.81% for the prior year quarter and 70.47% for the third quarter of 2024.

Gross loans decreased by $5.4 million, or 0.3%, during the quarter, resulting in a gross loan balance of $2.13 billion at December 31, 2024, compared to $2.14 billion at September 30, 2024. Total deposits increased by $23.3 million, or 0.9%, to $2.69 billion at December 31, 2024, compared to $2.67 billion at September 30, 2024.

Nonperforming assets as a percentage of total loans were 0.23% at December 31, 2024, showing a significant decrease from 0.96% at September 30, 2024, and 0.25% at December 31, 2023. Total equity was $319.1 million at December 31, 2024, compared to $319.3 million at September 30, 2024, and $303.8 million at December 31, 2023.

Following these announcements, the company's shares moved 7.4%, and are now trading at a price of $37.95. Check out the company's full 8-K submission here.

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