Guaranty Bank creates chief tech position

Guaranty Bank last month hired a Liberty Bank officer for its newly created vice president and chief technology officer position.

Nick Lofaro, who worked with Liberty Bank for seven years, most recently as vice president and chief information officer, started at Guaranty Bank Nov. 17 after exiting Liberty three days earlier, said Guaranty spokesman Ryan Bowling.

Lofaro brings 12 years of banking and 20 years of information technology experience to Guaranty, according to a news release.

“Information technology is not only critical to the day-to-day operations of the bank but will also play a major role in the future of our company with constantly emerging new technologies and products,” said Carter Peters, executive vice president and chief financial officer, in the release. “We believe it is important to enhance the depth and expertise of this area now to position our company for growth.”

Guaranty Bank’s holding company, Guaranty Federal Bancshares Inc. (Nasdaq: GFED), operates nine branches in Greene and Christian counties and a loan production office in Webster County.

GFED shares were trading at $12.82 as of 11:21 a.m., compared to a 52-week range of $10.12 to $13.42.