Guaranty posts 4Q, full-year earnings increases

Last edited 1:09 p.m., Feb. 2, 2015

Springfield-based Guaranty Federal Bancshares Inc. (Nasdaq: GFED) boosted fourth-quarter net income 29.7 percent, a contributor to the company’s full-year earnings increase of 10.3 percent.

GFED shares were trading at a 52-week high of $15.50 this morning, compared to its low of $10.70.

For the three months ended Dec. 31, earnings totaled $1.8 million, up from $1.4 million in the same quarter a year earlier. Full-year net income jumped 10.3 percent to $5.8 million from $5.2 million in 2013, according to a news release.

2014 financial notes:

• Operating income decreased 1.1 percent to $8.5 million from $8.6 million in 2013.
• Diluted share earnings dropped 25 cents to $1.33 for the year.
• Provision for loan losses moved down to $1.3 million from $1.6 million a year earlier.

As of Dec. 31, Guaranty’s assets were $628.5 million and deposits were $479.8 million. The company operates nine branches in Greene and Christian counties and a loan production office in Webster County, according to the release.[[In-content Ad]]