30+ Years in Operation Finalist: Guaranty Bank

100 years is a long time, especially in banking. Since its humble beginning as a third-floor office location in 1913, Guaranty Bank has gone from the pre-Depression savings and loan model, converting to a federal charter in 1935 and finally to the publicly-held branch network bank it is today.

Focusing on support of redevelopment efforts surrounding the bank’s longtime home at Walnut Street and Jefferson Avenue in downtown Springfield, Guaranty Bank has grown to become the fifth-largest locally owned bank in Springfield, commanding 6.3 percent of the local market share with nearly $500 million in local deposits and more than $650 million in assets. Guaranty now has nine southwest Missouri branches in Springfield, Nixa and Ozark.

With well-developed consumer and business banking services, Guaranty has become one of the areas most highly visible local institutions. But any journey of 100 years is not without its twists, turns and bumps along the way, as evidenced by the institution’s past nine months. From a significant 2012 third-quarter loss, which President and CEO Shaun Burke attributes to the loan write-off of a single large customer, Guaranty has bounced back strongly in 2013, posting a 14.3 percent year-over-year increase during the first quarter.

Though he admits it’s an overused axiom, Burke attributes the success to Guaranty’s 180 employees. But that relationship is a two-way street, he points out, noting that staff paid time off, training opportunities and more inclusive 401(k) guidelines have been among the company’s recent employee-relations initiatives.

“As a publicly held company, we have the flexibility to do things like offer long-term stock options,” he says. “We find that when people are able to treat their job as an investment, their own personal dreams and goals remain in line with the company objectives. That way, everybody – from staff to stockholders – have the same desire.”

The efforts have not gone unnoticed, as evidenced by Guaranty’s recognition in 2012 as a Springfield Business Journal Choice Employer and a related Human Resources Professional of the Year award to Guaranty Vice President and Human Resource Director Melissa Lloyd.

The bank’s focus on people is not limited to its staff. Burke estimates that in addition to more than 2,000 annual hours of volunteer time by employees, Guaranty Bank makes annual contributions totaling more than $100,000 to area nonprofits, including the United Way, Ronald McDonald House and the American Cancer Society.

“We like to put our money where our mouth is,” he says.

But perhaps the strongest evidence of that commitment lies with its traditional roots as a savings and loan institution supporting home-ownership programs targeting low-income families. In one such effort, a partnership with Springfield City and Community Land Trust, Guaranty provides consumer mortgage loans to purchasers of redeveloped domestic properties, borrowers who Burke says would not have the means to meet conventional lending requirements.

Additionally, Guaranty supports the Creating Healthy Homes program, providing emergency repair and maintenance assistance via $5,000 forgivable grants to similarly at-risk homeowners. Facilitated in tandem with Habitat for Humanity of Springfield, more than $580,000 in grant funds have been designated to this program.

“The economy is healing, our bank is growing,” Burke says. “We like to see that – at the end of the day, Guaranty Bank is reflective of our customers and our community.”[[In-content Ad]]