Guaranty Bank’s earnings jump 27%

Photo provided by GUARANTY BANK

Rachael Godden

Guaranty picks Farmers Park branch manager

Guaranty Bank named a manager for its Farmers Park branch.

The company promoted Rachael Godden, who’s currently assistant vice president and banking center manager of the company’s West Kearney Street and North Glenstone Avenue branches, according to a news release.

Guaranty plans to occupy 26,000 square feet across three of four floors in Farmers Park’s $6 million fifth building. The building that will house Guaranty’s executives marks the company’s 10th full-service branch.

The company expects to move into the 2144 E. Republic Road building during the fourth quarter, according to the release.

Guaranty Federal Bancshares Inc. (Nasdaq: GFED) increased its second-quarter earnings by 27 percent to $1.6 million from $1.3 million a year earlier.

The Springfield-based holding company of Guaranty Bank reported diluted share earnings of 36 cents, an 8-cent bump from second-quarter 2016, according to a news release.

Second-quarter financial notes:
    •    Net interest income climbed 14 percent to $5.9 million.
    •    Provision for loan losses was $575,000, up from $375,000 a year earlier.
    •    Fixed-rate mortgage loan income rose 37 percent compared with the same quarter last year.

Guaranty Bank had assets of $751.7 million and deposits of $567 million as of June 30. The company operates nine branches in Greene and Christian counties and loan production offices in Jasper and Webster counties, according to the release.

GFED shares closed yesterday at $21.73, compared with a 52-week range of $15.89 to $21.95.