Springfield-based Guaranty Federal Bancshares Inc. (Nasdaq: GFED) opened its 11th branch this week in Farmers Park, where it plans to finish relocating its executives by month’s end.
The operator of Guaranty Bank leases 26,000 square feet for undisclosed terms at the mixed-use development’s $6 million, 55,000-square-foot fifth and final building, 2144 E. Republic Road. Guaranty’s space spans three of four floors for the branch and company operations, including executive functions, accounting, commercial lending, marketing and human resources. The company’s headquarters remain at 1341 W. Battlefield Road, according to a news release. Company spokeswoman Carlye Wannenmacher said the new branch on the Farmers Park building’s ground floor opened Nov. 13.
“We had been looking for the right location to serve our clients in southeast Springfield for some time. Farmers Park is a premier destination in that area with a lot of amenities that fit nicely with our image of the Guaranty Bank of the future,” Guaranty Bank President and CEO Shaun Burke said in the release. “We have deployed some new technology in this location that will meet our customers’ needs more efficiently and align with the vibrant, contemporary atmosphere of the development.”
Under the leadership of Rachael Godden, the Guaranty branch employs five, Wannenmacher said. Guaranty will have 60 employees in the building when the transition is complete, she said.
The opening in Farmers Park follows Guaranty’s August conversion of a Joplin loan production office into its 10th full-service branch.
Guaranty last month reported third-quarter net income available to common shareholders of $1.7 million, an 11 percent increase compared with $1.5 million a year earlier.
GFED shares were trading at $21.26 as of 8:33 a.m., compared with a 52-week range of $15.89 to $23.71.
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