Guaranty Bank opens Joplin loan office

Two months after announcing plans to target the Joplin market, Springfield-based Guaranty Federal Bancshares Inc. (Nasdaq: GFED) opened a loan production office in the city.

Guaranty Vice President and Director of Marketing Carlye Wannenmacher said the 1,500-square-foot office leased from Yorktown Properties opened June 10 at 2639 E. 32nd St., Ste. R.

In April, Guaranty announced the hiring of banking veteran Jeffrey Williams to oversee operations in the Joplin market, though an office had not yet been selected.

“Guaranty Bank has been seeking opportunities to expand our footprint in southwest Missouri for some time,” President and CEO Shaun Burke said in a news release. “Partnering with such a respected and experienced banker like Jeff is the perfect opportunity for us to provide our business, mortgage and consumer lending solutions in and around Joplin.”

Joplin marks the fifth market for Guaranty Bank, which operates six branches in Springfield, two in Nixa and one in Ozark, and a loan office in Marshfield.

Guaranty reported first-quarter net income available to common shareholders of $1.28 million, a roughly 4 percent slide from $1.33 million a year earlier.

GFED shares closed June 10 at $16.07, compared to a 52-week range of $14.15 to $16.25.