Guaranty Bancshares, Inc. (GNTY) Bundle
An Overview of Guaranty Bancshares, Inc. (GNTY)
General Summary of Guaranty Bancshares, Inc. (GNTY)
Guaranty Bancshares, Inc. (GNTY) was founded in 1913 and is headquartered in Mount Pleasant, Texas. The company operates as a bank holding company and provides a range of banking and financial services through its wholly-owned subsidiary, Guaranty Bank & Trust, N.A. Its primary operations include commercial banking, mortgage banking, and wealth management services. As of 2024, GNTY offers products such as personal and business checking accounts, savings accounts, loans, and investment services.
As of September 30, 2024, Guaranty Bancshares reported total assets of approximately $1.6 billion, with total deposits amounting to $1.2 billion. The company serves a diverse customer base across North and East Texas and has positioned itself as a reliable community bank with a focus on customer service.
Financial Performance in the Latest Financial Reports
For the nine months ended September 30, 2024, Guaranty Bancshares reported net earnings of $21.5 million, a decrease from $24.2 million in the same period for 2023. The earnings per share were $1.88 for the nine months ended September 30, 2024, down from $2.06 in the prior year. The net interest margin improved slightly to 3.28% from 3.17% year-over-year.
In the third quarter of 2024, net earnings were $7.4 million, compared to $6.3 million for the same quarter in 2023. Basic earnings per share rose to $0.65 in Q3 2024 from $0.54 in Q3 2023. The total noninterest income for the nine months ended September 30, 2024 was $15.0 million, compared to $17.7 million for the same period in 2023.
| Financial Metrics | 2024 | 2023 |
|---|---|---|
| Net Earnings (in millions) | $21.5 | $24.2 |
| Earnings per Share (EPS) | $1.88 | $2.06 |
| Net Interest Margin | 3.28% | 3.17% |
| Net Earnings Q3 (in millions) | $7.4 | $6.3 |
| Basic EPS Q3 | $0.65 | $0.54 |
| Total Noninterest Income (in millions) | $15.0 | $17.7 |
Introduction to Guaranty Bancshares as an Industry Leader
Guaranty Bancshares, Inc. is recognized as a leading community bank in Texas, known for its commitment to customer service and community involvement. The company has consistently demonstrated resilience in the face of economic challenges, maintaining strong asset quality and a robust capital position. As of September 30, 2024, the total equity of Guaranty Bancshares stood at $319.3 million, reflecting a solid capital base that supports its growth strategies and ongoing operations. The company's capital ratios, including a total capital ratio of 16.59% and a Tier 1 capital ratio of 13.81%, indicate compliance with regulatory standards and a strong financial position.
Guaranty Bancshares has effectively navigated market fluctuations, showcasing its ability to adapt and thrive in a competitive banking environment. Investors and stakeholders are encouraged to explore further how Guaranty Bancshares continues to achieve success in the banking industry.
Mission Statement of Guaranty Bancshares, Inc. (GNTY)
Mission Statement Overview
Guaranty Bancshares, Inc. (GNTY) emphasizes its dedication to providing exceptional financial services and fostering strong customer relationships. The mission statement serves as a guiding principle for the company's strategic direction and long-term goals.
Core Component 1: Customer Commitment
The first core component of Guaranty Bancshares' mission statement is its unwavering commitment to customers. The company strives to deliver high-quality products and services tailored to meet the unique needs of its clients.
As of September 30, 2024, Guaranty Bancshares reported a total of 89,878 deposit accounts, reflecting its extensive customer base and engagement in the community. The average account balance across these accounts was approximately $29,695.
Core Component 2: Employee Empowerment
The second core component focuses on empowering employees to deliver superior service. Guaranty Bancshares believes that a motivated workforce is essential to achieving customer satisfaction and organizational success.
For the nine months ended September 30, 2024, Guaranty Bancshares reported net earnings attributable to the company of $21.5 million, which reflects the company's commitment to investing in its workforce and fostering a productive work environment.
Core Component 3: Community Involvement
The third core component highlights the importance of community involvement. Guaranty Bancshares is dedicated to contributing positively to the communities it serves, reinforcing its role as a responsible corporate citizen.
In 2024, Guaranty Bancshares maintained a liquidity ratio of 17.1%, demonstrating its financial stability and ability to support community initiatives while ensuring robust operational capabilities.
| Key Financial Metrics | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Equity | $319.3 million | $303.8 million |
| Net Earnings | $21.5 million | $24.2 million |
| Net Interest Margin | 3.33% | 3.02% |
| Return on Average Assets | 0.96% | 0.78% |
| Return on Average Equity | 9.58% | 8.43% |
Overall, Guaranty Bancshares, Inc. articulates a clear mission statement that underscores its commitment to customer satisfaction, employee empowerment, and community involvement, supported by strong financial performance metrics and a dedication to delivering high-quality banking services.
Vision Statement of Guaranty Bancshares, Inc. (GNTY)
Vision Statement Overview
The vision statement of Guaranty Bancshares, Inc. (GNTY) reflects its commitment to being a trusted financial partner that fosters community growth and empowers individuals through exceptional banking services. In 2024, the vision emphasizes innovation, customer-centric solutions, and sustainable growth.
Commitment to Customer-Centric Solutions
Guaranty Bancshares aims to prioritize customer needs by offering personalized banking experiences. This commitment is evident in the increase of noninterest-bearing deposits, which represented 31.5% of total deposits as of September 30, 2024. The bank has a total of $2.67 billion in deposits, reflecting a growth of $35.7 million or 1.4% compared to the end of 2023.
Focus on Innovation and Technology
In 2024, Guaranty Bancshares is enhancing its technological capabilities to improve customer engagement and streamline operations. The bank's investment in digital banking solutions has led to an increase in mobile and online banking usage, contributing to a 5.4% rise in interest income, which reached $71.7 million for the nine months ended September 30, 2024.
Sustainable Growth and Community Engagement
Guaranty Bancshares is dedicated to sustainable growth through community investment. The bank's total equity increased to $319.3 million as of September 30, 2024, marking a 5.1% increase from the previous year. The bank's commitment to environmental sustainability is reflected in its lending practices, which prioritize green initiatives and community development projects.
Financial Performance Metrics
| Financial Metric | 2024 (as of Sept 30) | 2023 (as of Dec 31) |
|---|---|---|
| Net Earnings | $21.5 million | $24.2 million |
| Net Interest Margin | 3.28% | 3.17% |
| Return on Average Assets | 0.92% | 0.99% |
| Return on Average Equity | 9.47% | 10.82% |
| Cash Dividend Payout Ratio | 38.30% | 33.50% |
Strengthening Community Ties
The bank's vision includes a strong emphasis on community ties, which is evident from the increase in total deposit accounts to 89,878 with an average account balance of $29,695. Guaranty Bancshares is committed to fostering local partnerships and supporting economic development initiatives to enhance the quality of life in the communities it serves.
Conclusion of Vision Statement Components
The vision statement of Guaranty Bancshares, Inc. for 2024 encapsulates its goals of customer-centricity, innovation, sustainable growth, and community engagement. The financial metrics demonstrate a solid foundation for achieving these objectives while maintaining a focus on the needs of its customers and stakeholders.
Core Values of Guaranty Bancshares, Inc. (GNTY)
Integrity
The core value of integrity is fundamental to Guaranty Bancshares, Inc. (GNTY). It emphasizes the importance of honesty and transparency in all dealings. This commitment is reflected in the company’s financial reporting and stakeholder communications.
For example, in the nine months ended September 30, 2024, Guaranty Bancshares reported net earnings attributable to the company of $21.5 million, a decrease from $24.2 million in the same period in 2023. This transparency in reporting financial performance demonstrates GNTY’s dedication to integrity.
Customer-Centricity
Customer-centricity is another core value that drives GNTY's operations. The company prioritizes understanding and meeting the needs of its customers, which is evident in its broad range of financial products and services.
As of September 30, 2024, GNTY had a total of 89,878 deposit accounts with an average account balance of $29,695. The increase in total deposits by $42.8 million during Q3 2024 underscores the bank's commitment to serving its customers effectively.
Community Engagement
Community engagement is a vital core value for GNTY, reflecting the company’s commitment to giving back and supporting local initiatives. This is illustrated by GNTY's active participation in community development programs and support for local businesses.
Additionally, GNTY’s total equity increased to $319.3 million as of September 30, 2024, compared to $303.8 million as of December 31, 2023, indicating a stable financial position that empowers the company to invest in community initiatives.
Excellence
Excellence in service and operational efficiency is a core value that GNTY strives for in all its business activities. The company continuously seeks to improve its processes and services.
For instance, GNTY’s net interest margin improved to 3.33% in Q3 2024, compared to 3.26% in Q2 2024. This improvement reflects GNTY's focus on operational excellence and effective management of its financial resources.
Innovation
Innovation is a key driver of growth at GNTY, as the company embraces new technologies and ideas to enhance customer experience and operational efficiency.
As part of its strategic initiatives, GNTY has invested in digital banking technologies, which contribute to an improved customer interface and operational effectiveness. This is critical as the bank continues to adapt to changing market conditions and customer expectations. The company’s ability to maintain a robust liquidity ratio of 17.1% as of September 30, 2024, further showcases its innovative approach to managing financial resources.
| Core Value | Examples of Commitment | Key Statistics |
|---|---|---|
| Integrity | Transparent financial reporting | Net earnings: $21.5 million (2024) |
| Customer-Centricity | Focus on customer needs | 89,878 deposit accounts; Total deposits increased by $42.8 million (Q3 2024) |
| Community Engagement | Support for local initiatives | Total equity: $319.3 million (Q3 2024) |
| Excellence | Operational efficiency improvements | Net interest margin: 3.33% (Q3 2024) |
| Innovation | Investment in digital banking technologies | Liquidity ratio: 17.1% (Q3 2024) |
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Resources:
- Guaranty Bancshares, Inc. (GNTY) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Guaranty Bancshares, Inc. (GNTY)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Guaranty Bancshares, Inc. (GNTY)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.