Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 | | | (Exact name of registrant as specified in its charter) Texas 75-1656431 (State or other jurisdiction of incorpo ...

Financial Data and Key Metrics Changes - Total assets increased to $3.09 billion, a rise of $345 million or 12.6% for 2021, driven by a $384 million increase in deposits [6][10] - Net earnings for Q4 were $9.2 million, or $0.76 per share, compared to $9.3 million and $0.77 per share in Q3 [19] - Year-to-date earnings were $39.8 million, or $3.30 per share, up from $27.4 million or $2.25 per share in 2020 [20] - Return on assets for the year was 1.36% and return on equity was 13.72% [20] Business Line Data and Key Metrics Changes - Core loan growth, excluding PPP and warehouse lending, was 10.8% for 2021, representing $176 million in loan growth [10] - In Q4, net core loans decreased by $10 million, or 0.5%, due to elevated paydowns [11] - Non-interest income decreased by $400,000, or about 6%, in Q4, primarily due to a decrease in loans sold in the secondary market [28] Market Data and Key Metrics Changes - Deposits increased by $384 million, or nearly 17% for the year, with $108 million of that in Q4 [13] - Non-performing assets as a percentage of total assets were 0.09% at the end of Q4 [49] - The average loan yield for Q4 was 4.66%, down from 4.73% in Q3 [25] Company Strategy and Development Direction - The company plans to continue onboarding new producers and maintain a focus on core deposit relationships to drive franchise value [73] - The company is cautious about loan growth expectations for 2022, estimating high-single-digit growth due to potential headwinds from rising rates [41] - The company is actively looking for M&A opportunities that align with its internal growth plans [80] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Texas economy and the company's growth prospects in 2022 [4] - The company remains cautious regarding the impact of COVID-19 variants and the end of economic stimulus programs on borrowers [48][50] - Management expects to recognize a significant portion of deferred fees from the PPP program during 2022 [40] Other Important Information - The company did not buy back any stock in the quarter and paid a $0.20 dividend, totaling $0.80 for the year, which is about 24% of earnings per share [17][18] - The company has a strong allowance for credit losses, with no provision or reverse provision during Q4 [49][52] Q&A Session Summary Question: Loan growth expectations and paydowns - Management indicated that loan growth is influenced by robust paydowns and sourcing new relationships, projecting high-single-digit growth for 2022 [55][58] Question: Excess liquidity and securities growth - Management expects a 5% to 10% increase in securities each quarter while maintaining excess liquidity as rates rise [61][62] Question: Operating leverage and expenses - Management plans to drive positive operating leverage despite higher expenses, focusing on adding producers to support growth [63] Question: Variable rate loan portfolio - Management confirmed that approximately $1.25 billion of total variable rate loans exist, with about $500 million repricing immediately [65][66] Question: M&A activity - Management is open to M&A opportunities that align with internal growth strategies but has no specific targets at this time [80] Question: Non-interest income outlook - Management anticipates a 5% increase in non-interest income for 2022, with a baseline of approximately $24 million from 2021 [82]

Financial Performance - Net core earnings for the third quarter were $9.7 million, compared to $9.8 million in the second quarter of 2021 and $11.1 million in the third quarter of 2020[194]. - Net earnings for the nine months ended September 30, 2021, were $30.6 million, compared to $17.5 million for the same period in 2020, representing a 75.5% increase[225]. - Net earnings for the three months ended September 30, 2021, were $9.3 million, compared to $10.1 million for the same period in 2020, with basic earnings per share decreasing from $0.84 to $0.77[269]. Loan and Asset Growth - Loans grew by $132.8 million, or 7.5%, during the third quarter, and by $168.6 million, or 9.8%, since December 31, 2020, excluding PPP loans[194]. - Average loans outstanding increased by $55.8 million, or 3.0%, for the nine months ended September 30, 2021, compared to the same period in 2020[232]. - Total loans amounted to $1,906,989 thousand, with an average yield of 4.88% for the nine months ended September 30, 2021[237]. - Total loans held for investment reached $1.97 billion, an increase of $104.1 million, or 5.6%, from $1.87 billion at the end of 2020[304]. Credit Quality and Allowance for Credit Losses - Non-performing assets as a percentage of total assets were 0.11% at September 30, 2021, down from 0.53% at September 30, 2020[194]. - The provision for credit losses was $1.7 million for the nine months ended September 30, 2021, compared to $13.2 million for the same period in 2020[229]. - The total allowance for credit losses was adjusted from 55 basis points to 14.75 basis points across the loan portfolio during the first three quarters of 2021[246]. - The total allowance for credit losses (ACL) was $30.6 million, representing 1.55% of total loans, down from $33.6 million or 1.80% as of December 31, 2020[327]. Interest Income and Margin - Net interest income before the reverse provision for credit losses increased by $5.5 million, or 8.3%, to $71.5 million for the nine months ended September 30, 2021[232]. - The net interest margin on a taxable equivalent basis was 3.56% for the nine months ended September 30, 2021, down from 3.75% for the same period in 2020[234]. - The net interest margin for the three months ended September 30, 2021, was 3.40%, down from 3.61% in the same period of 2020[275]. Deposits and Funding - The average deposit balance increased by $126.4 million, or 8.6%, over the same period in 2020, despite a decrease in the cost of interest-bearing deposits by 52 basis points[233]. - Total deposits increased to $2.56 billion as of September 30, 2021, an increase of $276.7 million, or 12.1%, compared to $2.29 billion as of December 31, 2020[346]. - Noninterest-bearing demand accounts increased by $195.8 million, or 28.11%, from $696.5 million as of December 31, 2020 to $892.3 million as of September 30, 2021[347]. Noninterest Income and Expenses - Noninterest income rose by $1,927 thousand, or 11.6%, totaling $18,538 thousand for the nine months ended September 30, 2021, compared to $16,611 thousand in 2020[248]. - Noninterest expense totaled $54.3 million for the nine months ended September 30, 2021, an increase of 12.3% from $48.3 million in the same period of 2020[257]. - Employee compensation and benefits rose to $31.1 million for the nine months ended September 30, 2021, reflecting a 15.4% increase from $27.0 million in the prior year[258]. Tax and Regulatory Capital - The effective tax rate increased to 18.22% for the nine months ended September 30, 2021, compared to 17.09% for the same period in 2020, with income tax expense rising to $6.8 million from $3.6 million[267]. - As of September 30, 2021, Guaranty Bancshares, Inc. reported total capital to risk-weighted assets ratio of 14.13%, up from 13.20% as of December 31, 2020[368]. - The company was classified as "well capitalized" under prompt corrective action regulations as of September 30, 2021[367]. Economic Impact and Future Outlook - The impact of COVID-19 continues to create uncertainties regarding future economic conditions and credit quality[191]. - The company expects to manage interest rate risk effectively, with a target that net income at risk should not decline by more than 15.0% for a 100 basis point shift in interest rates[383]. - A simulated increase of 300 basis points in interest rates could lead to a 6.69% increase in net interest income as of September 30, 2021[384].

Guaranty Bancshares, Inc. (NYSE:GNTY) Q3 2021 Earnings Conference Call October 18, 2021 11:00 AM ET Company Participants Ty Abston - Chairman and CEO Cappy Payne - Senior Executive Vice President and CFO Shalene Jacobson - Executive Vice President and Chief Risk Officer Conference Call Participants Brad Milsaps - Piper Sandler Michael Rose - Raymond James Brady Gailey - Keefe, Bruyette & Woods Matt Olney - Stephens, Inc. Disclaimer*: This transcript is designed to be used alongside the freely available audi ...

Table of Contents 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, 2021 OR (888) 572 - 9881 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File N ...

Guaranty Bancshares, Inc. (NYSE:GNTY) Q2 2021 Earnings Conference Call July 19, 2021 11:00 AM ET Company Participants Ty Abston - Chairman and CEO Cappy Payne - SEVP and CFO Shalene Jacobson - EVP and CRO Conference Call Participants Michael Rose - Raymond James Matt Olney - Stephens, Inc. Brady Gailey - Keefe, Bruyette & Woods Brad Milsaps - Piper Sandler Operator Good morning. Welcome to the Guaranty Bancshares’ Second Quarter 2021 Earnings Call. My name is Nona Branch, and I will be your operator for tod ...

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 March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Registrant's telephone number, including area code) For the transition period from to . Commission File Number: 001-38087 GUARANTY BANCSHARES, INC. (Exact name of registrant as specified in its chart ...

Guaranty Bancshares, Inc. (NYSE:GNTY) Q1 2021 Earnings Conference Call April 19, 2021 11:00 AM ET Company Participants Ty Abston - Chairman and CEO Cappy Payne - SEVP and CFO Shalene A. Jacobson - EVP and Chief Risk Officer Conference Call Participants Matt Olney - Stephens, Inc. Brady Gailey - Keefe, Bruyette & Woods Brad Milsaps - Piper Sandler Operator Good morning. Welcome to the Guaranty Bancshares’ First Quarter 2021 Earnings Call. My name is Nona Branch and I will be your operator today. This call is ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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) | | | Texas 75-1656431 (State or other jurisdiction of ...

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 September 30, 2020 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) Texas 001-38087 75-1656431 (State or Other Ju ...