Guaranty Bancshares(GNTY) - 2025 Q1 - Quarterly Results

Financial Performance - The Company's net income available to common shareholders for Q1 2025 was $8.6 million, or$0.76 per basic share, a decrease from $10.0 million, or$0.88 per share in Q4 2024, but an increase from $6.7 million, or$0.58 per share in Q1 2024[2]. - Net earnings for the first quarter of 2025 were $8.623 million, compared to$10.008 million in the previous quarter[27]. - Earnings per common share, basic, was $0.76 for the first quarter of 2025, down from$0.88 in the previous quarter[27]. - The Company's efficiency ratio improved to 66.78% in Q1 2025 from 71.74% in the prior year quarter[19]. Asset and Liability Management - Total assets increased to $3.153 billion at March 31, 2025, from$3.116 billion at December 31, 2024[26]. - Total liabilities increased to $2.827 billion at March 31, 2025, from$2.796 billion at December 31, 2024[26]. - Total equity was $325.8 million at March 31, 2025, up from$319.1 million at December 31, 2024, primarily due to net income of $8.6 million[25]. - The total equity attributable to Guaranty Bancshares, Inc. was$325.247 million as of March 31, 2025, up from $318.498 million at the end of the previous quarter[35]. Income and Expense Analysis - Net interest income for Q1 2025 was$26.7 million, an increase of $3.1 million, or 13.3$23.6 million in Q1 2024, primarily due to a decrease in interest expense[10]. - Noninterest income decreased by $225,000, or 4.3$5.0 million, primarily due to lower recoveries on SBA loans and a decrease in gains on loan sales[15]. - Noninterest expense increased by $517,000, or 2.5$21.2 million, driven by higher occupancy expenses and other noninterest expenses[17]. - Total noninterest income for the quarter ended March 31, 2025, was $5,033, a decrease of 12.14$5,726 in the previous quarter[32]. - Total noninterest expense rose to $21,209, an increase of 6.69$19,880 in the previous quarter[32]. Loan and Deposit Trends - Total deposits increased by $12.2 million during Q1 2025, with noninterest-bearing deposits representing 31.3$12.2 million, or 0.5%, to $2.70 billion at March 31, 2025, compared to$2.69 billion at December 31, 2024[23]. - Gross loans decreased by $23.0 million, or 1.1$2.11 billion[21]. - Total loans as of March 31, 2025, amounted to $2,108,161, a decrease of 1.08$2,131,137 on December 31, 2024[30]. Performance Ratios - Return on average assets and average equity for Q1 2025 were 1.13% and 10.83%, respectively, compared to 1.27% and 12.68% in Q4 2024 and 0.85% and 8.93% in Q1 2024[2]. - Return on average assets (annualized) was 1.13% for the first quarter of 2025, compared to 1.27% in the previous quarter[27]. - Return on average equity (annualized) was 10.83% for the first quarter of 2025, down from 12.68% in the previous quarter[27]. Credit Quality - Nonperforming assets as a percentage of total loans were 0.23% at March 31, 2025, unchanged from December 31, 2024, and down from 0.94% at March 31, 2024[24]. - The allowance for credit losses at the end of the period was $27,865, representing 1.32$4,756, accounting for 0.23% of total loans as of March 31, 2025[30]. - The company reported a net charge-off of $145 for the quarter, with recoveries amounting to$20[30]. Market and Operational Insights - The average yield on interest-earning assets was 5.60%, compared to 5.50% in the previous quarter[33]. - The average cost of interest-bearing deposits decreased to 2.83% from 3.07% in the previous quarter, a reduction of 24 basis points[37]. - The average cost of total deposits decreased to 1.96% from 2.11% in the previous quarter, a decline of 15 basis points[37]. - Guaranty Bancshares, Inc. operates 33 banking locations across 26 Texas communities[42]. Upcoming Events - The company will hold a conference call on April 21, 2025, to discuss the first quarter 2025 financial results[41].