The following is a summary of the Guaranty Bancshares, Inc. (GNTY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Guaranty Bancshares reported Q1 net income of $6.7 million, marking a decrease from prior quarter's $0.69 per share.

• Total assets and liabilities decreased by $57.4 and $59.4 million respectively, with total equity increasing $2.1 million during the quarter due to the net earnings, offset by dividends paid totaling $2.8 million or $0.24 per share.

• The company's strategic decision to shrink the balance sheet amid economic uncertainties resulted in the decrease of net loans by $57 million.

Business Progress:

• The company maintains its strategy of reducing the balance sheet rather than fostering growth, with the strong core earning stream supporting profitability amidst uncertain economic conditions.

• Guaranty Bancshares has recorded historically low non-performing assets at 0.68%, continues efficient management of commercial real estate and office-related loans, and anticipates a slowdown in repricing for interest-bearing deposits.

• The company has a flexible market approach, capitalizing on growth opportunities but not forcing growth, with a focus on retail and commercial banking along with treasury management.

• New loan yield is a reflection of the production mix and can vary quarter by quarter, predicting it for upcoming quarters is complex.

More details: Guaranty Bancshares IR

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