Springfield, MO

Guaranty Bank’s 2016 earnings dip despite Q4 gain

Posted online
Fourth-quarter earnings were up at Guaranty Federal Bancshares Inc. (Nasdaq: GFED), but it wasn’t enough to bring 2016 ahead of the prior year.

The Springfield-based operator of Guaranty Bank grew fourth-quarter net income by 61 percent to $1.5 million, or 34 cents per diluted share. Earnings for the year totaled $5.6 million, which was down 2.2 percent from 2015, according to a news release.

The dip in yearly earnings largely can be attributed to a 129 percent increase in provision for loan losses to $1.4 million, according to Guaranty’s earnings report. For the fourth quarter, officials cited increased loan balances and reserves on a few specific problem credits for a 70 percent rise in provision for loan losses during the three-month period.

Financial notes for 2016:
    •    Net interest income moved up 1.4 percent to $21.2 million.
    •    Provision for income taxes was down 18 percent to $2 million.
    •    Diluted share earnings fell by 3 cents to $1.27 per share.  

As of Dec. 31, Guaranty reported assets of $688 million and deposits of $505.4 million. The company operates nine branches in Greene and Christian counties and loan production offices in Jasper and Webster counties, according to the release.

GFED shares were trading at $20.98 as of 8:40 a.m., compared with a 52-week range of $14.80 to $21.95.

[[In-content Ad]]


No comments on this story |
Please log in to add your comment
Editors' Pick

Crossroads in Republic ripe for industrial park

Two buildings in a budding Republic industrial park just might be the welcome mat officials need.

Most Read
SBJ Live logo
Giving Employees a Career Choice

“We think it’s a good thing if every employee has a number of choices. Maybe they’ll want to stay and make a career at Amazon and we welcome that,” says Juan Garcia, Director - Associate …

Training Bootcamp: Training Needs Assessment All workplace problems have root causes. When will training be the solution? Sherry Coker, OTC Center for Workforce Development business development director, provides you the framework of a training needs assessment, which will uncover the root causes of a workplace problem and help you determine if training is the solution. A download is available at with a complete outline for an effective training needs assessment. This is sponsored content. Duration: 2:29
Don’t Micro-Manage Are you guilty of micromanaging your employees? “If we’re going to require them to be that educated when they come to work for us, should we not let them do their job? They should know so much …
Seek Wisdom from Many “My whole life goal is to change the world, one connection at a time,” says Keisha Mabry. Mabry, who is an author, speaker, and social entrepreneur, says she had a “quarter-life crisis” and …
DNA Uncovers Best Version of You A simple swab of the inside of your cheek can lead to optimizing your nutrition and fitness program, personal medication profile, in addition to your ancestry. According to Austin O’Reilly, owner …