YOUR BUSINESS AUTHORITY
Springfield, MO
Guaranty Federal Bancshares Inc. (Nasdaq: GFED) is trending forward in terms of its bottom line.
After finishing 2016 down 2.2 percent in earnings, the Springfield-based holding company of Guaranty Bank has improved its net income in the first three quarters this year. For the nine months ended Sept. 30, net income available to common shareholders rose 16 percent to $4.7 million, according to a news release.
In its third-quarter earnings report released this morning, Guaranty reported net income available to common shareholders of $1.7 million, an 11 percent increase compared with $1.5 million a year earlier.
Diluted earnings per share improved by four cents to 39 cents, according to the release.
Third-quarter financial notes:
• Net interest income improved by 14 percent to $6 million from $5.3 million in the same quarter of 2016.
• Salaries and employee benefits moved up by $358,000, due in part to the company’s opening of its 10th branch this August in Joplin.
• Provision for loan losses more than doubled to $450,000.
Guaranty held assets of $759.3 million and deposits of $584.1 million as of Sept. 30, according to the release.
GFED shares were trading at $21.78 as of 10:25 a.m., compared with a 52-week range of $15.89 to $23.71.
Connected to Watkins Elementary School is a new storm shelter now under construction.
Updated: Systematic Savings Bank to be acquired in $14M deal
STL construction firm buys KC company
Webster University's deficit triples
‘Dress for your day’: Companies are relaxing dress codes amid evolving ideas about fashion
Missouri House speaker accused of obstruction in ethics probe
Former CoxHealth colleagues starting communications firm
Developer targets opening by month's end for $10M apartment complex