Guaranty Bancshares Q1 net income $6.7M ($0.58/sh), dividend raised to $0.24; NIM improves to 3.16%

GUARANTY BANCSHARES INC /TX/

2024-Q1 EPS reported $0.58

Net income available to common $6.7M, $0.58 basic vs $0.51 Q4 2023 and $0.69 Q1 2023.
Net interest margin (FTE) improved to 3.16% from 3.11% Q4 2023; loan yield rose to 6.21% from 6.06%.
Noninterest income boosted by $499K SBA loan recoveries; total noninterest income $5.3M vs $4.9M Q1 2023.
Nonperforming assets rose to 0.68% of assets from 0.18% Q4 2023, mainly due to $14.9M OREO foreclosure in South Austin.
Board increased quarterly dividend to $0.24/share from $0.23; paid down $25M brokered CDs and FHLB borrowings.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GUARANTY BANCSHARES INC /TX/ reported the fiscal quarter ended March 31, 2024 results: net income $6.7 million, or $0.58 per basic share, EPS $0.58 per basic share.

Period: the fiscal quarter ended March 31, 2024
Net income: $6.7 million, or $0.58 per basic share
EPS: $0.58 per basic share
Result: reported results

Exact text from the filing

The Company's net income available to common shareholders was $6.7 million, or $0.58 per basic share, for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0000950170-24-044265

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