Guaranty Bank net income rises 5% in 2015

Guaranty Federal Bancshares Inc. (Nasdaq: GFED) posted net income available to common shareholders of $5.7 million in 2015, a roughly 5.4 percent increase compared to $5.4 million in the prior year.

However, diluted share earnings for the Springfield holding company of Guaranty Bank dropped 3 cents to $1.30 for the year, according to a news release.

Fiscal 2015 financial notes:
    •    Guaranty’s fourth-quarter net income available to common shareholders dropped nearly 20 percent to $1.4 million, or 33 cents per diluted share, from $1.8 million, or 41 cents per share, in the same quarter of last year.
    •    Full-year net interest income was $20.9 million, a 1 percent increase from $20.7 million in 2014.
    •    Provision for loan losses in 2015 dropped 53 percent to $600,000 from $1.3 million in 2014.

As of Dec. 31, Guaranty held $652.8 million in assets and $517.4 million in deposits. The company operates nine Guaranty Bank branches in Greene and Christian counties, as well as a loan production office in Webster County, according to the release.

GFED shares closed yesterday at $15.05, compared to a 52-week range of $14 to $15.59.