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Rachael GoddenPhoto provided by GUARANTY BANK
Rachael Godden

Photo provided by GUARANTY BANK

Guaranty Bank’s earnings jump 27%

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Guaranty Federal Bancshares Inc. (Nasdaq: GFED) increased its second-quarter earnings by 27 percent to $1.6 million from $1.3 million a year earlier.

The Springfield-based holding company of Guaranty Bank reported diluted share earnings of 36 cents, an 8-cent bump from second-quarter 2016, according to a news release.

Second-quarter financial notes:
    •    Net interest income climbed 14 percent to $5.9 million.
    •    Provision for loan losses was $575,000, up from $375,000 a year earlier.
    •    Fixed-rate mortgage loan income rose 37 percent compared with the same quarter last year.

Guaranty Bank had assets of $751.7 million and deposits of $567 million as of June 30. 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 closed yesterday at $21.73, compared with a 52-week range of $15.89 to $21.95.

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