Financial Performance - Net earnings attributable to Guaranty Bancshares, Inc. for the nine months ended September 30, 2024, were $21.5 million, down from $24.2 million in the same period of 2023[143]. - Net earnings attributable to Guaranty Bancshares Inc. were $7.4 million for the three months ended September 30, 2024, compared to $6.3 million for the same period in 2023[182]. - Basic earnings per share increased to $0.65 for the three months ended September 30, 2024, from $0.54 in the same period in 2023[183]. - Noninterest income decreased by $2.7 million, or 15.3%, for the nine months ended September 30, 2024, compared to the same period in 2023[159]. - Noninterest income increased by $215,000, or 4.4%, to $5,154,000 for the three months ended September 30, 2024, compared to the same period in 2023[196]. Interest Income and Margin - Net interest margin improved to 3.33% in Q3 2024, up from 3.26% in Q2 2024 and 3.02% in Q3 2023[140]. - Net interest income before provision for credit losses was $71.7 million for the nine months ended September 30, 2024, a decrease of 2.1% from $73.2 million in 2023[145]. - Net interest income increased by $889,000, or 3.8%, to $24.2 million for the third quarter of 2024, driven by a $615,000 increase in interest income[184]. - The net interest margin for the nine months ended September 30, 2024, was 3.28%, compared to 3.17% for the same period in 2023[151]. Deposits and Liquidity - Total deposits increased by $42.8 million during Q3 2024, with noninterest-bearing deposits representing 31.5% of total deposits[141]. - Total deposits as of September 30, 2024, were $2.67 billion, an increase of $35.7 million, or 1.4%, compared to $2.63 billion as of December 31, 2023[251]. - Average total deposits for the nine months ended September 30, 2024, were $2.62 billion, a decrease of $7.4 million, or 6.1%, compared to the year ended December 31, 2023[248]. - Noninterest-bearing deposits as of September 30, 2024, were $839.6 million, a decrease of $13.4 million, or 1.6%, compared to $853.0 million as of December 31, 2023[251]. - The liquidity ratio was 17.1% as of September 30, 2024, up from 14.0% a year earlier[141]. Loans and Credit Quality - Total loans decreased by $186.0 million during the first nine months of 2024, with gross loan balances down by $78.5 million in the third quarter alone[155]. - The allowance for credit losses as a percentage of total loans was 1.34% as of September 30, 2024, compared to 1.33% as of December 31, 2023[155]. - Nonperforming assets as a percentage of total assets decreased to 0.66% as of September 30, 2024, compared to 0.71% at June 30, 2024[141]. - The total nonperforming assets increased to $20.4 million as of September 30, 2024, compared to $5.8 million as of December 31, 2023[219]. - The total allowance for credit losses was $28.5 million as of September 30, 2024, down from $30.9 million as of December 31, 2023[236]. Expenses and Cost Management - Noninterest expense totaled $62.0 million, an increase of $1.0 million, or 1.7%, compared to $61.0 million for the same period in 2023[171]. - Employee compensation and benefits decreased by $401,000, or 1.1%, primarily due to a reduction in bonus expenses during the nine months ended September 30, 2024[172]. - Noninterest expense totaled $20,678,000, an increase of $164,000, or 0.8%, compared to $20,514,000 for the same quarter in 2023[202]. Capital and Equity - As of September 30, 2024, total equity increased to $319.3 million, up $15.4 million or 5.1% from $303.8 million as of December 31, 2023[273]. - Total capital to risk-weighted assets ratio was 16.59% as of September 30, 2024, compared to 15.22% as of December 31, 2023[276]. - Tier 1 capital to risk-weighted assets ratio was 13.81% as of September 30, 2024, up from 12.53% as of December 31, 2023[276]. Market and Economic Conditions - Inflation in the U.S. remains elevated, but the company’s performance is more significantly impacted by interest rate changes than by inflation levels[286]. - The Federal Reserve raised interest rates by 525 basis points over 15 months, followed by a decrease of 50 basis points during the three months ended September 30, 2024[287]. - Future performance is subject to various risks, including interest rate volatility, asset quality deterioration, and competition in the financial services industry[303]. Risk Management - The company utilizes an interest rate risk simulation model to manage market risk and assess the impact of interest rate changes on net interest income and equity[306]. - The asset-liability committee regularly reviews the sensitivity of assets and liabilities to interest rate changes and adjusts strategies accordingly[290]. - The company does not engage in leveraged derivatives or financial options to manage interest rate risk, focusing instead on balance sheet structuring[289].

Financial Data and Key Metrics Changes - Total assets decreased by approximately $88 million year-to-date but increased by $15.5 million during Q3 2024, while total liabilities increased by about $4.8 million [5] - Net income for the quarter was $7.4 million, equating to $0.65 per basic share, consistent with Q2 and up from $0.54 per share in Q3 2023 [7] - Return on average assets was 0.96% for the quarter, compared to 0.95% in Q2, while return on average equity was 9.58%, down from 9.91% in Q2 [7] - Net interest margin (NIM) increased to 3.33% from 3.26% in Q2 and 3.02% in Q3 2023, driven by improvements in interest-earning assets [8] Business Line Data and Key Metrics Changes - Gross loans decreased by $78.5 million during the quarter and have decreased about $186 million year-to-date, primarily in C&I construction and development and CRE loan segments [10] - New loans originated during the quarter totaled $63.8 million with an average rate of 8.07% [10] - Non-performing assets remained low at 0.66% of total assets, down from 0.71% in the prior quarter [11] Market Data and Key Metrics Changes - The company reported a strong core deposit base, with total deposits growing by $42.8 million during the quarter [14] - Non-interest bearing deposits represented 31.5% of total deposits at quarter end [14] - The liquidity ratio was reported at 17.1%, indicating strong liquidity [15] Company Strategy and Development Direction - The company aims to grow by another $1 billion to $2 billion over the next three to four years through organic growth and bolt-on acquisitions [4] - The management is optimistic about growth opportunities in Texas, citing a vibrant economy and strong borrower capacity [4][22] - The company is starting to plan for 2025, focusing on both organic growth and potential acquisitions [4][23] Management's Comments on Operating Environment and Future Outlook - Management noted muted growth due to cautious behavior from key customers, but expects improvements as rates stabilize post-election and geopolitical tensions ease [2] - The overall economic outlook for Texas remains positive, with management confident in the company's positioning to capitalize on future opportunities [5][24] Other Important Information - The company repurchased nearly 60,000 shares during the quarter at an average price of $30.65 per share [16] - Non-interest income decreased by $555,000 primarily due to a prior quarter's ORE valuation allowance [10] Q&A Session Summary Question: Can you elaborate on the deposit repricing schedule and its impact on margin? - Management anticipates NIM will increase by about two basis points per month, with expectations of nearing 3.50% by the end of 2025 [18][19] Question: What are the organic and M&A growth opportunities? - Management emphasized a focus on organic growth while remaining open to bolt-on acquisitions, particularly among smaller banks in Texas [21][23] Question: How is the competitive landscape for deposit pricing? - Management noted reduced pressure on deposit pricing, with less aggressive competition compared to the previous year [31] Question: What is the expected repricing of CDs in the next quarter? - Approximately $254 million of the CD portfolio will reprice in Q4, which is about 34% of the total CD portfolio [29]

Company Performance - Guaranty Bancshares Inc. (GNTY) reported quarterly earnings of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.62 per share and up from $0.54 per share a year ago, representing an earnings surprise of 4.84% [1] - The company posted revenues of $29.35 million for the quarter ended September 2024, slightly missing the Zacks Consensus Estimate by 0.19%, compared to $28.14 million in the same quarter last year [1] - Over the last four quarters, Guaranty Bancshares has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [1] Market Outlook - Guaranty Bancshares shares have increased approximately 3.3% since the beginning of the year, while the S&P 500 has gained 23% [2] - The current consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $29.6 million, and for the current fiscal year, it is $2.41 on revenues of $116.4 million [4] Industry Context - The Zacks Industry Rank for Banks - Southwest, which includes Guaranty Bancshares, is currently in the top 31% of over 250 Zacks industries, indicating a favorable industry outlook [5] - Another company in the same industry, Cullen/Frost Bankers (CFR), is expected to report quarterly earnings of $2.15 per share, reflecting a year-over-year decline of 9.7%, with revenues projected at $524.09 million, up 2.1% from the previous year [5]

Financial Performance - Net income available to common shareholders for Q3 2024 was $7.4 million, or $0.65 per basic share, unchanged from Q2 2024 and up from $6.3 million, or $0.54 per basic share, in Q3 2023[2] - Net interest income for Q3 2024 was $24.2 million, an increase of $889,000, or 3.8%, compared to Q3 2023[5] - Noninterest income increased by $215,000, or 4.4%, to $5.2 million in Q3 2024 compared to Q3 2023[9] - The efficiency ratio for Q3 2024 improved to 70.47%, compared to 72.64% for the prior year quarter[12] - The company reported a return on average assets of 0.96% and a return on average equity of 9.58% for the quarter[19] - Total noninterest income for the quarter ended September 30, 2023, was $5,154, an increase from $4,599 in the previous quarter[22] - Total noninterest expense for the quarter was $20,678, slightly up from $20,602 in the previous quarter[23] Asset and Deposit Management - Total deposits increased by $42.8 million, or 1.6%, to $2.67 billion at September 30, 2024, compared to $2.63 billion at June 30, 2024[14] - Total assets reached $3,097.1 million, a slight increase from $3,081.6 million in the prior quarter[17] - Total equity increased to $319.3 million as of September 30, 2024, up from $308.6 million in the previous quarter and $296.8 million year-over-year, primarily due to net income of $7.4 million[16] - Total average deposits remained stable at $2,621,968 thousand compared to $2,614,248 thousand in the prior quarter[27] - Noninterest-bearing deposits decreased to $800,573 thousand from $818,290 thousand in the previous quarter[27] Loan Performance - Gross loans decreased by $78.5 million, or 3.5%, during Q3 2024, resulting in a gross loan balance of $2.14 billion[13] - Total loans as of September 30, 2023, amounted to $2,318,249, a slight decrease from $2,322,576 as of June 30, 2024[20] - Total loans for the nine months ended September 30, 2024, were $2,234,538, generating interest income of $105,115, with an average yield of 6.28%[25] Credit Quality - Nonperforming assets as a percentage of total assets were 0.66% at September 30, 2024, down from 0.71% at June 30, 2024[15] - The allowance for credit losses as a percentage of total loans was 1.34% as of September 30, 2024, compared to 1.33% at December 31, 2023[9] - The net charge-offs to average loans (annualized) ratio was 0.04% for the quarter, indicating stable credit quality[21] - Nonaccrual loans were $5,095 as of September 30, 2023, compared to $6,225 as of June 30, 2024, indicating a decrease in nonperforming loans[21] - Total nonperforming assets were $20,433, a decrease from $21,740 in the previous quarter[21] Interest Rates and Margins - Net interest margin increased to 3.33% in Q3 2024, up 7 basis points from Q2 2024 and 31 basis points from Q3 2023[3] - Net interest income for the third quarter was $24.2 million, compared to $23.9 million in the previous quarter, reflecting a net interest margin of 3.33%[19] - The net interest margin improved to 3.28% in 2024 compared to 3.17% in 2023, reflecting a stronger interest rate spread of 2.17%[25] - Interest-bearing deposits increased to $1,802,228 in 2024, with interest expense rising to $44,526, resulting in an average yield of 3.30%[25] Stock and Equity - The company repurchased stock totaling $1.8 million during the third quarter of 2024[16] - Total equity attributable to Guaranty Bancshares, Inc. was $303,418 as of September 30, 2024, compared to $298,656 in 2023[26] - Tangible book value per common share increased to $27.94 in 2024 from $26.98 in 2023[26] Future Outlook - The company will hold a conference call on October 21, 2024, to discuss third quarter 2024 financial results[30] - Guaranty Bancshares, Inc. operates 33 banking locations across 26 Texas communities[31] - The company emphasizes the importance of non-GAAP financial measures for evaluating performance and making operational decisions[28]

Guaranty Bancshares Inc. (GNTY) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be relea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38087 GUARANTY BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation) (Co ...

Guaranty Bancshares Inc. (GNTY) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, GNTY's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross." Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day ...

Guaranty Bancshares, Inc. (NYSE:GNTY) Q2 2024 Earnings Call Transcript July 15, 2024 11:00 AM ET Company Participants Ty Abston - Chairman and CEO Shalene Jacobson - EVP and CFO Conference Call Participants Matt Olney - Stephens Michael Rose - Raymond James Woody Lay - KBW Operator Good morning. Welcome to the Guaranty Bancshares Second Quarter 2024 Earnings Call. My name is Nona Branch and I will be your operator for today's call. I want to remind everyone that today's call is being recorded. After the pre ...

This quarterly report represents an earnings surprise of 18.18%. A quarter ago, it was expected that this company would post earnings of $0.51 per share when it actually produced earnings of $0.58, delivering a surprise of 13.73%. Guaranty Bancshares, which belongs to the Zacks Banks - Southwest industry, posted revenues of $28.48 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.07%. This compares to year-ago revenues of $32.58 million. The company has topped consensus reve ...

Exhibit 99.1 "Second quarter 2024 results were good and consistent with our expectations. Net interest margin continued to improve from 3.16% in the first quarter to 3.26% in the second quarter. Deposit balances have remained stable as we've strategically shrunk the balance sheet and repaid an additional $30.0 million in FHLB advances during the quarter, as well as purchased some higher-yielding investment securities. Credit quality overall remains manageable with low past-due and charge-off percentages. Th ...