Guaranty Bank's 2Q earnings jump 25%

Guaranty Federal Bancshares Inc. (Nasdaq: GFED) increased its net income available to common shareholders by 25.2 percent to $1.5 million in the second quarter, compared to $1.2 million a year earlier.

Earnings per diluted share rose 7 cents to 35 cents for the three-month period ended June 30, according to a news release from the Springfield-based holding company of Guaranty Bank.

Second-quarter financial notes:

• Interest income grew 5.8 percent to $6.4 million, and interest expense increased 4.9 percent to $1.1 million. Net interest income for the quarter was $5.2 million, a 6 percent bump.
• The company did not post a provision for loan losses during the quarter, which compares to $325,000 last year.
• Provision for income taxes moved up 35.4 percent to $696,000 from $514,000.

As of June 30, Guaranty Bank’s assets were $652.6 million and deposits were $519.5 million. The company operates nine branches in Greene and Christian counties and a loan production office in Webster County, according to the release.

GFED shares were trading at $14.80 as of 10:04 a.m., compared to a 52-week range of $12.11 to $15.50.