Guaranty Bancshares, Inc. reported a net income of $8.6 million for the first quarter of 2025, a significant increase from $6.7 million in the same period last year. This translates to basic earnings per share of $0.76, up from $0.58 in the prior year. The company's net interest income before provisions for credit losses rose to $26.7 million, a 13.3% increase from $23.6 million in the first quarter of 2024, primarily driven by a decrease in interest expenses, which fell by 21% to $13.6 million. The net interest margin improved to 3.70%, compared to 3.16% in the previous year, reflecting a favorable shift in the cost of interest-bearing liabilities.
Total assets for Guaranty Bancshares increased to $3.15 billion as of March 31, 2025, up from $3.12 billion at the end of 2024. This growth was largely attributed to a $68.6 million increase in federal funds sold, although the company experienced a $23 million decline in gross loans, which totaled $2.11 billion. The loan portfolio's composition showed a decrease in commercial and industrial loans, while real estate loans, particularly in construction and development, saw slight increases. The allowance for credit losses stood at $27.9 million, or 1.32% of total loans, reflecting a minor decrease from the previous quarter.
Operationally, Guaranty Bancshares maintained a strong deposit base, with total deposits rising to $2.70 billion, an increase of $12.2 million from the previous quarter. The company reported 91,105 total deposit accounts, with an average balance of $29,684. The average cost of interest-bearing deposits decreased to 2.83%, down from 3.25% in the prior year, indicating effective management of deposit costs. Additionally, the bank's nonperforming assets as a percentage of total assets improved to 0.15%, down from 0.16% at the end of 2024.
Looking ahead, Guaranty Bancshares expressed optimism regarding its financial outlook, citing a strong capital position and healthy liquidity ratios. The company has a total equity of $325.8 million, representing 10.5% of average quarterly assets. Management anticipates that as economic conditions stabilize, there may be opportunities for further reductions in the allowance for credit losses and potential growth in the loan portfolio. The bank's strategic focus remains on maintaining a granular loan portfolio and enhancing customer relationships to drive future growth.
About GUARANTY BANCSHARES INC /TX/
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