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In 2020, Guaranty Bank's profits dropped 27% to $6.8 million.
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In 2020, Guaranty Bank's profits dropped 27% to $6.8 million.

Guaranty execs post compensation increases in 2020

Posted online

Last edited 2:10 p.m., April 13, 2021

Guaranty Federal Bancshares Inc.'s (Nasdaq: GFED) top executives had total compensation increases in 2020, with stock awards leading the push.

President and CEO Shaun Burke, the Guaranty Bank operator's top-paid officer, earned $485,541 in compensation last year, according to a proxy filing with the U.S. Securities and Exchange Commission released yesterday. That's up 12.3% from his 2019 total compensation.

Burke's salary was $326,655, up from $320,300 in 2019. He received $63,994 in stock awards in 2020; he did not receive any such compensation in 2019, according to the filing.

Like Burke, the other four top officers at Guaranty had stock awards last year. The proxy statement cited "long-term incentive performance share arrangements" that hit in 2020.

Guaranty's top executives, by 2020 total compensation, are:
• Burke, $485,541, up 12.3%;
• Robin Robeson, chief operating officer, $344,435, up 10%;
• Carter Peters, chief financial officer, $322,948, up 10%;
• Sheri Biser, chief credit officer, $287,776, up 11.2%; and
• Craig Dunn, chief commercial banking officer, $258,633, N/A.

Dunn joined the company in 2020.

In 2020, Guaranty's profits dropped 27% to $6.8 million.

GFED shares hit a new 52-week high this morning of $23.80 per share. The stock's 52-week low is $13.35 per share.

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