Carter Peters works to keep cash flowing at Guaranty Bank.
As the company’s executive vice president and chief financial officer, Peters is in charge of the overall financial management of the bank, including shareholder value and profitability objectives. To start 2021, Guaranty Bank increased its first quarter profits by more than 5% to $2.2 million.
“An adequate capital level is the most important regulatory aspect in the banking industry. Thus, our organization’s capital plans and current levels are constantly being reviewed and monitored very closely,” Peters says of his day-to-day responsibilities.
“We are always mindful of maintaining a well-capitalized position for regulatory purposes and feel it’s critical to have several outlets for accessing new capital should the need arise.”
In 2020, Peters led the bank’s effort to obtain $20 million in debt financing, which he says was key to boosting Guaranty Bank’s capital position during the coronavirus pandemic. He also last year worked as the company’s representative in conducting national bank institutional investor presentations to raise capital. With Peters leading the initiative, Guaranty Bank has secured $17.5 million, he says.
“My role as chief financial officer is involved in a wide spectrum of revenue and profit, from the analysis and review of new revenue ideas to the direct prospecting and generation of new client relationships,” Peters says.
He’s heavily involved in cost-saving measures, an important function during the pandemic. Measures he has led include eliminating or reducing unnecessary costs from suppliers, renegotiating vendor contracts for better financial terms and slashing duplicate costs for professional fees.
Tax savings also are in his wheelhouse. Over the past year, Peters has led Guaranty Bank to research, analyze and invest in solar and low-income housing projects for tax-saving initiatives.
“These projects have been very beneficial for the respective communities but will also provide the company significant income tax savings for several years to come,” he says.
His work has not gone unnoticed by bank President and CEO Shaun Burke.
“In addition to leading the company’s extensive finance and accounting functions, Carter does an excellent job of working with institutional investors and market analysts on a regular basis,” Burke says.
Peters hones his craft through myriad professional industry organizations. He’s an active member of the Missouri Bankers Association and its CFO committee, the Financial Managers Society, the American Institute of CPAs and the Missouri Society of CPAs.
His philanthropic endeavors include serving as past chairperson for the southwest Missouri regional board of the Make-A-Wish Foundation. He’s a former board member for the Sporting Springfield soccer club and the nonprofit Families for Children, and a former audit committee member for The Arc of the Ozarks.
“Carter’s financial leadership extends beyond our company and gives back to the community and the accounting profession,” Burke says.
The congregation at Crossway Baptist Church is building a children’s wing at the west end of the church, and beginning in 2024, it will be home to a Christian academy.