Guaranty Bank’s 3Q profits tick up

Guaranty Federal Bancshares Inc. (Nasdaq: GFED) grew its third-quarter profits 4.3 percent to $1.4 million, up from $1.36 million a year earlier.

The Springfield holding company - which operates nine Guaranty Bank branches in Greene and Christian counties, as well as a loan production office in Webster County - increased its diluted share earnings by 1 cent to 32 cents in the three-month period ended Sept. 30, according to a news release.

Third-quarter financial notes:
    •    Near the end of the three-month period, Guaranty celebrated its 20th year on the Nasdaq Stock Market, which was marked by an advertisement displayed at New York City’s Times Square.
    •    Net interest income rose 2.4 percent to $5.18 million from $5.06 million last year.
    •    Nonperforming assets increased 93.5 percent to $16.4 million.

As of Sept. 30, Guaranty Bank held $644.7 million in assets and $628.5 million in deposits. In the Federal Deposit Insurance Corp.’s recently released report of the Springfield metropolitan statistical area deposits, Guaranty ranked No. 4 with $523.1 million, or 6 percent of the market.

GFED shares were trading at $14.25 as of 8:58 a.m., compared to a 52-week range of $12.16 to $15.50.