Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report:

(Date of earliest event reported)

October 21, 2024

GUARANTY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)



Texas	001-38087	75-1656431
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
16475 Dallas Parkway, Suite 600 Addison, Texas		75001
(Address of Principal Executive Offices)		(Zip Code)

(888) 572-9881

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock, par value $1.00 per share	GNTY	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

In accordance with Item 2.02 of Form 8-K of the Securities and Exchange Commission (the “SEC”), Guaranty Bancshares, Inc., a Texas corporation (the “Company”), is furnishing to the SEC a press release that the Company issued on October 21, 2024 (the “Press Release”) announcing the Company’s financial results for the fiscal quarter ended September 30, 2024. A copy of the Press Release is attached as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure.

On October 21, 2024, the Company will host a conference call with respect to financial results for the fiscal quarter ended September 30, 2024. A copy of the Earnings Call Presentation materials is attached as Exhibit 99.2.

In accordance with the General Instruction B.2 of Form 8-K, the information in Item 2.02 and Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 hereto, which are furnished herewith pursuant to and relate to Item 2.02 and Item 7.01, respectively, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of Section 18 of the Exchange Act. The information in Item 2.02 and Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 and Exhibit 99.2 hereto shall not be incorporated by reference into any filing or other document filed by the Company with the SEC pursuant to the Securities Act of 1933, as amended, the rules and regulations of the SEC thereunder, the Exchange Act, or the rules and regulations of the SEC thereunder, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following is furnished as an exhibit to this Current Report on Form 8-K:


Exhibit Number		Description of Exhibit
99.1		Press Release dated October 21, 2024, reporting third quarter 2024 financial results
99.2		Earnings Call Presentation materials, dated October 21, 2024
104		Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated:		October 21, 2024

		GUARANTY BANCSHARES, INC.

By:		/s/ Tyson T. Abston
Name:		Tyson T. Abston
Title:		Chairman of the Board and Chief Executive Officer

Exhibit 99.1

Press Release

For Immediate Release

Guaranty Bancshares, Inc. Reports

Third Quarter 2024 Financial Results

Addison, Texas – October 21, 2024 / Business Wire / – Guaranty Bancshares, Inc. (NYSE: GNTY) (the "Company"), the parent company of Guaranty Bank & Trust, N.A. (the "Bank"), today reported financial results for the fiscal quarter ended September 30, 2024. The Company's net income available to common shareholders was $7.4 million, or $0.65 per basic share, for the quarter ended September 30, 2024, compared to $7.4 million, or $0.65 per basic share, for the quarter ended June 30, 2024 and $6.3 million, or $0.54 per basic share, for the quarter ended September 30, 2023. Return on average assets and average equity for the third quarter of 2024 were 0.96% and 9.58%, respectively, compared to 0.95% and 9.91%, respectively, for the second quarter of 2024 and 0.78% and 8.43%, respectively, for the third quarter of 2023. The increase in earnings during the third quarter of 2024 compared to the third quarter of 2023 was primarily due to an increase in net interest income of $889,000, or 3.8%, along with a reverse provision for credit losses of $500,000 during the third quarter of 2024 compared to no provision during the prior year quarter.

"Our earnings and margin results were good in the third quarter and continue to show improvement as the Fed begins to lower interest rates. Net interest margin is now at 3.33%, up 7 basis points from the prior quarter and 31 basis points from the third quarter of 2023. We continue to position our balance sheet to take advantage of possible loan growth and other opportunities when economic conditions improve and interest rates continue to fall. Deposit balances increased during the quarter, we purchased additional higher yielding AFS securities and we repaid the remaining $45.0 million in FHLB advances. We believe credit quality remains strong with very low past-dues and charge-offs. Non-performing assets should also be very low by year-end as we anticipate resolutions for the ORE on our balance sheet. Our capital and liquidity levels are solid and will leave us well positioned to drive positive strategic objectives and obtain favorable results for shareholders for the remainder of 2024 and 2025," said Ty Abston, the Company's Chairman and Chief Executive Officer.

QUARTERLY HIGHLIGHTS

•

Improvement in NIM and Stable Earnings. Net interest margin, on a fully taxable equivalent basis, continued to improve in the third quarter, increasing to 3.33%, compared to 3.26% in the second quarter and 3.02% in the prior year quarter. Earnings were fairly consistent with the prior quarter, showing improvements in net interest income, non-interest income and employee and compensation expenses, which were slightly offset by a lower reverse provision for credit losses and higher provision for income taxes in the third quarter. The net interest income improvements resulted primarily from a decrease in interest bearing liability costs, while earning assets have continued to reprice upward.

•

Solid Balance Sheet, Capital and Liquidity. During the past year, we have strategically shrunk our balance sheet primarily by paying off debt and allowing transactional/non-relationship loans to pay off. This strategy positions us to be on the offense when we believe strong opportunities for growth or M&A are presented. Our capital and liquidity ratios, as well as contingent liquidity sources, remain very healthy. During the third quarter of 2024, we repurchased 59,996 shares of our common stock, or 0.53% of our average shares outstanding during the period, at an average price of $30.65 per share. Our liquidity ratio, calculated as cash and cash equivalents and unpledged investments divided by total liabilities, was 17.1% as of September 30, 2024, compared to 14.0% as of September 30, 2023. Our total available contingent liquidity, net of current outstanding borrowings, was $1.4 billion, consisting of FHLB, FRB and correspondent bank fed funds and revolving lines of credit. Finally, our total equity to average quarterly assets as of September 30, 2024 was 10.4%. If we had to recognize our entire net unrealized losses on both AFS and HTM securities, our total equity to average assets ratio would be 9.8%†, which we believe represents a strong capital level under regulatory requirements.

•

Good Asset Quality. Overall credit quality remains strong and the expected losses on deteriorating credits are low due to the Bank's equity position and/or strong guarantor support. Nonperforming assets as a percentage of total assets were 0.66% at September 30, 2024, compared to 0.71% at June 30, 2024 and 0.09% at September 30, 2023. Net charge-offs (annualized) to average loans were 0.04% for the quarter ended September 30, 2024, compared to 0.01% for the quarter ended June 30, 2024, and 0.11% for the quarter ended September 30, 2023.

There was a reverse provision to the allowance for credit losses of $500,000 during the third quarter, in addition to the $1.45 million reverse provision during the first half of the year. Changes to historical and qualitative factors have been minimal during the first three quarters of 2024, therefore the decrease in the allowance for credit losses was due primarily to the decreases in outstanding loan balances of $186.0 million, or 8.0%, since January 1, 2024, which were partially offset by an increase in special mention loans during the same period as we continue to work with a relatively small number of stressed borrowers.

Nonperforming assets consist of both nonaccrual loans and other real estate owned (ORE). Nonaccrual loans represented 0.24% of total outstanding loan balances as of September 30, 2024 and consisted primarily of smaller dollar consumer and small business loans. ORE consisted of two real estate properties, both of which we expect to resolve and sell in the fourth quarter of 2024 with minimal, if any, losses. Nonaccrual loans represented 0.28% and 0.12% of total outstanding loan balances as of June 30, 2024 and September 30, 2023, respectively.

•

Granular and Consistent Core Deposit Base. As of September 30, 2024, we have 89,878 total deposit accounts with an average account balance of $29,695. We have a historically reliable core deposit base, with strong and trusted banking relationships. Total deposits increased by $42.8 million during the third quarter. DDA and time deposit balances increased $19.2 million and $24.5 million, respectively, while savings and MMDA balances decreased $965,000 during the third quarter of 2024. Excluding public funds and Bank-owned accounts, our uninsured deposits as of September 30, 2024 were 26.3% of total deposits.

Interest rates paid on deposits during the quarter stabilized with minimal increases. Noninterest-bearing deposits represent 31.5% of total deposits as of September 30, 2024. Our cost of interest-bearing deposits increased one basis point during the quarter from 3.32% in the prior quarter to 3.33%. This increase was primarily due to renewals of maturing certificates of deposit into new CDs paying higher rates, although current CD rate offerings were recently lowered late in the quarter. Our cost of total deposits for the third quarter of 2024 increased three basis points from 2.28% in the prior quarter to 2.31%†.

† Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.

RESULTS OF OPERATIONS

Net interest income, before the reversal of the provision for credit losses, for the third quarter of 2024 and 2023 was $24.2 million and $23.3 million, respectively, an increase of $889,000, or 3.8%. The increase in net interest income resulted from an increase in interest income of $615,000, or 1.5%, combined with a decrease in interest expense of $274,000, or 1.7%, compared to the prior year quarter. The increase in interest income resulted primarily from a $670,000, or 16.5%, increase in interest income on securities and a $205,000, or 29.6%, increase in interest income received from Federal funds sold and interest-bearing deposits. The decrease in interest expense resulted primarily from a $2.3 million and $808,000 decrease in interest paid on FHLB borrowings and brokered deposits, respectively. These decreases were partially offset by a $2.6 million increase in interest paid on CD accounts during the third quarter of 2024 compared to the same period of the prior year. Our noninterest-bearing deposits to total deposits were 31.5% and 34.0% as of September 30, 2024 and 2023, respectively.

Net interest margin, on a fully taxable equivalent basis, for the third quarter of 2024 and 2023 was 3.33% and 3.02%, respectively. Net interest margin, on a fully taxable equivalent basis, increased 31 basis points primarily due to a 40 basis point increase in interest-earning asset yields partially offset by an increase of eight basis points in the cost of interest-bearing liabilities from the prior year quarter. The increase in yield on interest-earning assets was primarily due to increases in yield on the loan portfolio from 5.91% to 6.35%, or 44 basis points, as well as 82 and 10 basis point increases in yield on AFS and HTM securities, respectively, during the period. The increase in the cost of interest-bearing liabilities was due primarily to an increase in the cost of interest-bearing deposits from 3.00% to 3.33%, a change of 33 basis points, since September 30, 2023.

Net interest income, before the reversal of the provision for credit losses, increased $311,000, or 1.3%, from $23.9 million in the second quarter of 2024 to $24.2 million for the third quarter of 2024. The increase in net interest income resulted primarily from a larger decrease in interest expense of $591,000, or 3.5%, compared to the decrease in interest income of $280,000, or 0.7%, from the prior quarter.

Net interest margin, on a fully taxable equivalent basis, increased from 3.26% for the second quarter of 2024 to 3.33% for the third quarter of 2024, an increase of seven basis points. The increase in net interest margin, on a fully taxable equivalent basis, was primarily due to a one basis point increase in the yield earned on interest-earning assets, further improved by a seven basis point decrease in rates on interest-bearing liabilities. The increase in yield was primarily due to an increase in loan yields from 6.29% for the second quarter of 2024 to 6.35% for the third quarter of 2024, a change of six basis points, partially offset by decreases in yield on all other interest-earning assets for a net increase of one basis point in yields on interest-earning assets. This increase was improved by a decrease in interest-bearing liabilities of seven basis points since June 30, 2024.

We recorded a reverse provision for credit losses of $500,000 during the third quarter of 2024, and $1.2 million and $250,000 of reverse provisions during the second and first quarters of 2024, respectively. The reverse provisions resulted from a decline in gross loan balances of $78.5 million during the third quarter and of $186.0 million year to date, while overall credit quality trends and economic forecast assumptions remained relatively stable. As of September 30, 2024 and December 31, 2023, our allowance for credit losses as a percentage of total loans was 1.34% and 1.33%, respectively.

Noninterest income increased $215,000, or 4.4%, during the third quarter of 2024 to $5.2 million, compared to $4.9 million for the third quarter of 2023. The increase from the same quarter in 2023 was primarily due to rental income received during the quarter.

Noninterest income for the third quarter of 2024 increased by $555,000, or 12.1%, from $4.6 million in the second quarter of 2024. The increase was primarily due to an increase in other noninterest income of $909,000, or 1377.3%, primarily the result of a $900,000 ORE valuation allowance during the second quarter of 2024. This was partially offset by a $305,000, or 14.4%, decrease in merchant and debit card fees due to an annual payment from our third party processing vendor during the second quarter of 2024.

Noninterest expense increased $164,000, or 0.8%, during the third quarter of 2024 to $20.7 million, compared to $20.5 million for the third quarter of 2023. The increase in noninterest expense during the third quarter of 2024 was driven primarily by an increase in other noninterest expense of $498,000, or 39.9%, due to $642,000 in ORE-related holding costs during the current quarter, which was partially offset by a $358,000, or 3.0%, decrease in employee compensation and benefits and a $127,000, or 14.1%, decrease in legal and professional fees compared to the third quarter of 2023.

Noninterest expense increased $76,000, or 0.4%, during the third quarter of 2024, from $20.6 million for the quarter ended June 30, 2024. The increase resulted primarily from a $141,000, or 8.8%, increase in other noninterest expense due to $642,000 in ORE-related holding costs during the current quarter. Additionally, the Bank saw a $102,000, or 3.5%, increase in occupancy expenses during the third quarter of 2024 compared to the second quarter of 2024. These increases were partially offset by a $137,000, or 1.2%, decrease in employee compensation and benefits.

The Company’s efficiency ratio for the third quarter of 2024 was 70.47%, compared to 72.64% for the prior year quarter and 72.34% for the second quarter of 2024.

FINANCIAL CONDITION

Consolidated assets for the Company totaled $3.10 billion at September 30, 2024, compared to $3.08 billion at June 30, 2024 and $3.23 billion at September 30, 2023.

Gross loans decreased by $78.5 million, or 3.5%, during the quarter resulting in a gross loan balance of $2.14 billion at September 30, 2024, compared to $2.21 billion at June 30, 2024. Our decline in loans resulted primarily from tighter underwriting, strategic non-renewal decisions and from lower demand from potential borrowers.

Gross loans decreased $181.7 million, or 7.8%, from $2.32 billion at September 30, 2023. The decrease in gross loans during the third quarter of 2024 compared to the third quarter of 2023 resulted from tightened credit underwriting standards and loan terms, along with fewer borrower requests in response to higher interest rates and project costs.

Total deposits increased by $42.8 million, or 1.6%, to $2.67 billion at September 30, 2024, compared to $2.63 billion at June 30, 2024, and increased $10.6 million, or 0.4%, from $2.66 billion at September 30, 2023. The increase in deposits during the third quarter of 2024 compared to the second quarter of 2024 was the result of an increase in noninterest-bearing and interest-bearing deposits of $19.1 million and $23.6 million, respectively. The increase in deposits during the current quarter compared to the prior year quarter resulted primarily from an increase in interest-bearing deposits of $74.4 million, offset by a decrease in noninterest-bearing deposits of $63.8 million.

Nonperforming assets as a percentage of total loans were 0.96% at September 30, 2024, compared to 0.98% at June 30, 2024 and 0.13% at September 30, 2023. Nonperforming assets as a percentage of total assets were 0.66% at September 30, 2024, compared to 0.71% at June 30, 2024, and 0.09% at September 30, 2023. The Bank's nonperforming assets consist primarily of ORE and nonaccrual loans. The increase in nonperforming assets compared to the prior year quarter was primarily due to the acquisition of ORE, which is expected to be fully resolved by year-end.

Total equity was $319.3 million at September 30, 2024, compared to $308.6 million at June 30, 2024 and $296.8 million at September 30, 2023. The increase in total equity compared to the prior quarter and prior year quarter resulted primarily from net income of $7.4 million during the third quarter and from a positive shift in our net unrealized losses on securities compared to the prior periods. The increases in equity were somewhat offset by the payment of dividends and by the repurchase of stock totaling $1.8 million during the third quarter of 2024, $4.1 million during the second quarter of 2024 and $1.7 million during the third quarter of 2023.


	As of
	2024						2023
(dollars in thousands)	September 30		June 30		March 31		December 31		September 30
ASSETS
Cash and due from banks	$	50,623	$	45,016	$	43,872	$	47,744	$	47,922
Federal funds sold		108,350		40,475		24,300		36,575		73,275
Interest-bearing deposits		3,973		4,721		4,921		5,205		8,980
Total cash and cash equivalents		162,946		90,212		73,093		89,524		130,177
Securities available for sale		277,567		242,662		228,787		196,195		178,644
Securities held to maturity		341,911		347,992		363,963		404,208		408,308
Loans held for sale		770		871		874		976		2,506
Loans, net		2,107,597		2,185,247		2,234,012		2,290,881		2,286,163
Accrued interest receivable		10,927		12,397		11,747		13,143		11,307
Premises and equipment, net		56,964		57,475		56,921		57,018		56,712
Other real estate owned		15,184		15,184		14,900		—		—
Cash surrender value of life insurance		42,623		42,369		42,119		42,348		42,096
Core deposit intangible, net		1,100		1,206		1,312		1,418		1,524
Goodwill		32,160		32,160		32,160		32,160		32,160
Other assets		47,356		53,842		67,550		56,920		80,816
Total assets	$	3,097,105	$	3,081,617	$	3,127,438	$	3,184,791	$	3,230,413
LIABILITIES AND EQUITY
Deposits
Noninterest-bearing	$	839,567	$	820,430	$	828,861	$	852,957	$	903,391
Interest-bearing		1,829,347		1,805,732		1,798,983		1,780,289		1,754,902
Total deposits		2,668,914		2,626,162		2,627,844		2,633,246		2,658,293
Securities sold under agreements to repurchase		31,164		25,173		39,058		25,172		19,366
Accrued interest and other liabilities		33,849		32,860		33,807		32,242		31,218
Line of credit		—		—		—		4,500		2,000
Federal Home Loan Bank advances		—		45,000		75,000		140,000		175,000
Subordinated debentures		43,885		43,852		45,819		45,785		47,752
Total liabilities		2,777,812		2,773,047		2,821,528		2,880,945		2,933,629

Equity attributable to Guaranty Bancshares, Inc.		318,784		308,043		305,371		303,300		296,226
Noncontrolling interest		509		527		539		546		558
Total equity		319,293		308,570		305,910		303,846		296,784
Total liabilities and equity	$	3,097,105	$	3,081,617	$	3,127,438	$	3,184,791	$	3,230,413


	Quarter Ended
	2024									2023
(dollars in thousands, except per share data)	September 30			June 30			March 31			December 31			September 30
STATEMENTS OF EARNINGS
Interest income	$	40,433		$	40,713		$	40,752		$	40,796		$	39,818
Interest expense		16,242			16,833			17,165			16,983			16,516
Net interest income		24,191			23,880			23,587			23,813			23,302
Reversal of provision for credit losses		(500	)		(1,200	)		(250	)		—			—
Net interest income after reversal of provision for credit losses		24,691			25,080			23,837			23,813			23,302
Noninterest income		5,154			4,599			5,258			4,796			4,939
Noninterest expense		20,678			20,602			20,692			21,402			20,514
Income before income taxes		9,167			9,077			8,403			7,207			7,727
Income tax provision		1,788			1,654			1,722			1,341			1,437
Net earnings	$	7,379		$	7,423		$	6,681		$	5,866		$	6,290
Net loss attributable to noncontrolling interest		18			12			7			12			7
Net earnings attributable to Guaranty Bancshares, Inc.	$	7,397		$	7,435		$	6,688		$	5,878		$	6,297

PER COMMON SHARE DATA
Earnings per common share, basic	$	0.65		$	0.65		$	0.58		$	0.51		$	0.54
Earnings per common share, diluted		0.65			0.65			0.58			0.51			0.54
Cash dividends per common share		0.24			0.24			0.24			0.23			0.23
Book value per common share - end of quarter		27.94			26.98			26.47			26.28			25.64
Tangible book value per common share - end of quarter(1)		25.03			24.06			23.57			23.37			22.72
Common shares outstanding - end of quarter(2)		11,408,908			11,417,270			11,534,960			11,540,644			11,554,094
Weighted-average common shares outstanding, basic		11,383,027			11,483,091			11,539,167			11,536,878			11,568,897
Weighted-average common shares outstanding, diluted		11,443,324			11,525,504			11,598,239			11,589,165			11,619,342

PERFORMANCE RATIOS
Return on average assets (annualized)		0.96	%		0.95	%		0.85	%		0.73	%		0.78	%
Return on average equity (annualized)		9.58			9.91			8.93			7.93			8.43
Net interest margin, fully taxable equivalent (annualized)(3)		3.33			3.26			3.16			3.11			3.02
Efficiency ratio(4)		70.47			72.34			71.74			74.81			72.64

(1) See Non-GAAP Reconciling Tables.
(2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options.
(3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%.
(4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation.


	As of
	2024									2023
(dollars in thousands)	September 30			June 30			March 31			December 31			September 30
LOAN PORTFOLIO COMPOSITION
Commercial and industrial	$	245,738		$	264,058		$	269,560		$	287,565		$	292,410
Real estate:
Construction and development		213,014			231,053			273,300			296,639			317,484
Commercial real estate		866,112			899,120			906,684			923,195			901,321
Farmland		169,116			180,126			180,502			186,295			188,614
1-4 family residential		524,245			526,650			523,573			514,603			504,002
Multi-family residential		54,158			47,507			44,569			44,292			42,720
Consumer		52,530			53,642			54,375			57,059			58,294
Agricultural		11,293			12,506			12,418			12,685			13,076
Overdrafts		331			335			276			243			328
Total loans(1)(2)	$	2,136,537		$	2,214,997		$	2,265,257		$	2,322,576		$	2,318,249

	Quarter Ended
	2024									2023
(dollars in thousands)	September 30			June 30			March 31			December 31			September 30
ALLOWANCE FOR CREDIT LOSSES
Balance at beginning of period	$	29,282		$	30,560		$	30,920		$	31,140		$	31,759
Loans charged-off		(272	)		(115	)		(310	)		(242	)		(644	)
Recoveries		33			37			200			22			25
Reversal of provision for credit losses		(500	)		(1,200	)		(250	)		—			—
Balance at end of period	$	28,543		$	29,282		$	30,560		$	30,920		$	31,140

Allowance for credit losses / period-end loans		1.34	%		1.32	%		1.35	%		1.33	%		1.34	%
Allowance for credit losses / nonperforming loans		560.2			470.4			496.0			552.9			1,148.2
Net charge-offs / average loans (annualized)		0.04			0.01			0.02			0.04			0.11

NONPERFORMING ASSETS
Nonaccrual loans	$	5,095		$	6,225		$	6,161		$	5,592		$	2,712
Other real estate owned		15,184			15,184			14,900			—			—
Repossessed assets owned		154			331			236			234			250
Total nonperforming assets	$	20,433		$	21,740		$	21,297		$	5,826		$	2,962

Nonaccrual loans as a percentage of total loans(1)(2)		0.24	%		0.28	%		0.27	%		0.24	%		0.12	%

Nonperforming assets as a percentage of:
Total loans(1)(2)		0.96	%		0.98	%		0.94	%		0.25	%		0.13	%
Total assets		0.66			0.71			0.68			0.18			0.09

(1) Excludes outstanding balances of loans held for sale of $770,000, $871,000, $874,000, $976,000, and $2.5 million as of September 30, June 30 and March 31, 2024 and December 31 and September 30, 2023, respectively.
(2) Excludes deferred loan fees of $397,000, $468,000, $685,000, $775,000, and $946,000 as of September 30, June 30 and March 31, 2024 and December 31 and September 30, 2023, respectively.


	Quarter Ended
	2024						2023
(dollars in thousands)	September 30		June 30		March 31		December 31		September 30
NONINTEREST INCOME
Service charges	$	1,165	$	1,098	$	1,069	$	1,123	$	1,131
Net realized gain on sale of loans		252		227		272		196		218
Fiduciary and custodial income		542		657		649		624		637
Bank-owned life insurance income		255		250		251		249		267
Merchant and debit card fees		1,817		2,122		1,706		1,760		1,752
Loan processing fee income		102		136		118		116		128
Mortgage fee income		46		43		41		30		46
Other noninterest income		975		66		1,152		698		760
Total noninterest income	$	5,154	$	4,599	$	5,258	$	4,796	$	4,939

NONINTEREST EXPENSE
Employee compensation and benefits	$	11,586	$	11,723	$	12,437	$	12,715	$	11,944
Occupancy expenses		3,026		2,924		2,747		2,757		2,960
Legal and professional fees		775		841		772		954		902
Software and technology		1,649		1,653		1,642		1,740		1,490
Amortization		142		142		143		145		147
Director and committee fees		188		198		200		186		192
Advertising and promotions		239		208		169		352		288
ATM and debit card expense		791		785		609		763		803
Telecommunication expense		178		159		173		175		178
FDIC insurance assessment fees		359		365		360		321		363
Other noninterest expense		1,745		1,604		1,440		1,294		1,247
Total noninterest expense	$	20,678	$	20,602	$	20,692	$	21,402	$	20,514


	Quarter Ended September 30,
	2024								2023
(dollars in thousands)	Average Outstanding Balance			Interest Earned/ Interest Paid		Average Yield/ Rate			Average Outstanding Balance			Interest Earned/ Interest Paid		Average Yield/ Rate
ASSETS
Interest-earning assets:
Total loans(1)	$	2,167,701		$	34,615		6.35	%	$	2,332,171		$	34,765		5.91	%
Securities available for sale		263,487			2,484		3.75			181,946			1,346		2.93
Securities held to maturity		345,422			2,242		2.58			432,687			2,710		2.48
Nonmarketable equity securities		19,341			194		3.99			25,429			304		4.74
Interest-bearing deposits in other banks		66,583			898		5.37			52,424			693		5.24
Total interest-earning assets		2,862,534			40,433		5.62			3,024,657			39,818		5.22
Allowance for credit losses		(29,101	)							(31,574	)
Noninterest-earning assets		232,947								220,406
Total assets	$	3,066,380							$	3,213,489
LIABILITIES AND EQUITY
Interest-bearing liabilities:
Interest-bearing deposits	$	1,821,395		$	15,243		3.33	%	$	1,726,218		$	13,069		3.00	%
Advances from FHLB and fed funds purchased		21,739			286		5.23			194,115			2,588		5.29
Line of credit		261			6		9.15			5,011			204		16.15
Subordinated debt		43,863			506		4.59			47,730			534		4.44
Securities sold under agreements to repurchase		34,370			201		2.33			22,718			121		2.11
Total interest-bearing liabilities		1,921,628			16,242		3.36			1,995,792			16,516		3.28
Noninterest-bearing liabilities:
Noninterest-bearing deposits		800,573								888,772
Accrued interest and other liabilities		36,970								32,716
Total noninterest-bearing liabilities		837,543								921,488
Equity		307,209								296,209
Total liabilities and equity	$	3,066,380							$	3,213,489
Net interest rate spread(2)							2.26	%							1.94	%
Net interest income				$	24,191							$	23,302
Net interest margin(3)							3.36	%							3.06	%
Net interest margin, fully taxable equivalent(4)							3.33	%							3.02	%

(1) Includes average outstanding balances of loans held for sale of $882,000 and $1.1 million for the quarter ended September 30, 2024 and 2023, respectively.
(2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.
(3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized.
(4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%.


	Nine Months Ended September 30,
	2024								2023
(dollars in thousands)	Average Outstanding Balance			Interest Earned/ Interest Paid		Average Yield/ Rate			Average Outstanding Balance			Interest Earned/ Interest Paid		Average Yield/ Rate
ASSETS
Interest-earning assets:
Total loans(1)	$	2,234,538		$	105,115		6.28	%	$	2,359,880		$	100,513		5.69	%
Securities available for sale		241,777			6,602		3.65			180,645			3,619		2.68
Securities held to maturity		365,174			7,107		2.60			463,434			8,591		2.48
Nonmarketable equity securities		22,329			722		4.32			27,727			1,024		4.94
Interest-bearing deposits in other banks		56,901			2,352		5.52			49,923			1,949		5.22
Total interest-earning assets		2,920,719			121,898		5.57			3,081,609			115,696		5.02
Allowance for credit losses		(30,125	)							(31,804	)
Noninterest-earning assets		234,822								219,227
Total assets	$	3,125,416							$	3,269,032
LIABILITIES AND EQUITY
Interest-bearing liabilities:
Interest-bearing deposits	$	1,802,228		$	44,526		3.30	%	$	1,668,394		$	30,670		2.46	%
Advances from FHLB and fed funds purchased		84,234			3,413		5.41			255,011			9,711		5.09
Line of credit		367			24		8.74			4,139			268		8.66
Subordinated debt		44,713			1,534		4.58			48,357			1,609		4.45
Securities sold under agreements to repurchase		39,880			743		2.49			19,548			271		1.85
Total interest-bearing liabilities		1,971,422			50,240		3.40			1,995,449			42,529		2.85
Noninterest-bearing liabilities:
Noninterest-bearing deposits		814,117								944,870
Accrued interest and other liabilities		36,458								30,057
Total noninterest-bearing liabilities		850,575								974,927
Equity		303,418								298,656
Total liabilities and equity	$	3,125,415							$	3,269,032
Net interest rate spread(2)							2.17	%							2.17	%
Net interest income				$	71,658							$	73,167
Net interest margin(3)							3.28	%							3.17	%
Net interest margin, fully taxable equivalent(4)							3.25	%							3.16	%

(1) Includes average outstanding balances of loans held for sale of $801,000 and $1.4 million for the nine months ended September 30, 2024 and 2023, respectively.
(2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.
(3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized.
(4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%.

NON-GAAP RECONCILING TABLES

Tangible Book Value per Common Share


	As of
	2024									2023
(dollars in thousands, except per share data)	September 30			June 30			March 31			December 31			September 30
Equity attributable to Guaranty Bancshares, Inc.	$	318,784		$	308,043		$	305,371		$	303,300		$	296,226
Adjustments:
Goodwill		(32,160	)		(32,160	)		(32,160	)		(32,160	)		(32,160	)
Core deposit intangible, net		(1,100	)		(1,206	)		(1,312	)		(1,418	)		(1,524	)
Total tangible common equity attributable to Guaranty Bancshares, Inc.	$	285,524		$	274,677		$	271,899		$	269,722		$	262,542
Common shares outstanding(1)		11,408,908			11,417,270			11,534,960			11,540,644			11,554,094
Book value per common share	$	27.94		$	26.98		$	26.47		$	26.28		$	25.64
Tangible book value per common share(1)		25.03			24.06			23.57			23.37			22.72

(1) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options.

Net Unrealized Loss on Securities, Tax Effected, as a Percentage of Total Equity


(dollars in thousands)	September 30, 2024
Total equity(1)	$	319,293
Less: net unrealized loss on HTM securities, tax effected		(17,852	)
Total equity, including net unrealized loss on AFS and HTM securities	$	301,441

Net unrealized loss on AFS securities, tax effected		8,374
Net unrealized loss on HTM securities, tax effected		17,852
Net unrealized loss on AFS and HTM securities, tax effected	$	26,226

Net unrealized loss on securities as % of total equity(1)		8.2	%
Total equity before impact of unrealized losses	$	327,667
Net unrealized loss on securities as % of total equity before impact of unrealized losses		8.0	%

Total average assets	$	3,066,380
Total equity to average assets		10.4	%
Total equity, adjusted for tax effected net unrealized loss, to average assets		9.8	%

(1) Includes the net unrealized loss on AFS securities of $8.4 million, tax effected.

Cost of Total Deposits


	Quarter Ended
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023
Total average interest-bearing deposits	$	1,821,395		$	1,795,958		$	1,726,218
Adjustments:
Noninterest-bearing deposits		800,573			818,290			888,772
Total average deposits	$	2,621,968		$	2,614,248		$	2,614,990

Total deposit-related interest expense	$	15,243		$	14,824		$	13,069

Average cost of interest-bearing deposits		3.33	%		3.32	%		3.00	%
Average cost of total deposits		2.31			2.28			1.98

About Non-GAAP Financial Measures

Certain of the financial measures and ratios we present, including “tangible book value per common share”, "net unrealized loss on securities, tax effected, as a percentage of total equity" and "cost of total deposits" are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). We refer to these financial measures and ratios as “non-GAAP financial measures.” We consider the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain expenditures or assets that we believe are not indicative of our primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. We believe that management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, analyzing and comparing past, present and future periods.

These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and you should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures we present may differ from non-GAAP financial measures used by our peers or other companies. We compensate for these limitations by providing the equivalent GAAP measures whenever we present the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance.

A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

Conference Call Information

The Company will hold a conference call to discuss third quarter 2024 financial results on Monday, October 21, 2024 at 10:00 am Central Time. The conference call will be hosted by Ty Abston, Chairman and CEO, and Shalene Jacobson, EVP and CFO. All conference attendees must register before the call at www.gnty.com/earningscall. The conference materials will be available by accessing the Investor Relations page on our website, www.gnty.com. A recording of the conference call will be available by 1:00 pm Central Time the day of the call and remain available through October 31, 2024 on our Investor Relations webpage.

About Guaranty Bancshares, Inc.

Guaranty Bancshares, Inc. is the parent company for Guaranty Bank & Trust, N.A. Guaranty Bank & Trust has 33 banking locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. As of September 30, 2024, Guaranty Bancshares, Inc. had total assets of $3.1 billion, total loans of $2.1 billion and total deposits of $2.7 billion. Visit www.gnty.com for more information.

Cautionary Statement Regarding Forward-Looking Information

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our results of operations, financial condition and financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Such factors include, without limitation, the “Risk Factors” referenced in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and other risks and uncertainties listed from time to time in our reports and documents filed with the Securities and Exchange Commission. We can give no assurance that any goal or plan or expectation set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements. The forward-looking statements are made as of the date of this communication, and we do not intend, and assume no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

    Contact Information:

   

    Shalene Jacobson
Executive Vice President and Chief Financial Officer
Guaranty Bancshares, Inc.
(888) 572-9881

   

    investors@gnty.com

   

INVESTOR PRESENTATION NYSE: GNTY 3RD QUARTER 2024

SAFE HARBOR STATEMENT ABOUT GUARANTY BANCSHARES, INC. Guaranty Bancshares, Inc. is the parent company for Guaranty Bank & Trust, N.A. Guaranty Bank & Trust has 33 banking locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. As of September 30, 2024, Guaranty Bancshares, Inc. had total assets of $3.1 billion, total loans of $2.1 billion and total deposits of $2.7 billion. Visit www.gnty.com for more information. NON-GAAP FINANCIAL MEASURES Guaranty reports its results in accordance with United States generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP performance measures used in managing its business may provide meaningful information about underlying trends in its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Guaranty’s reported results prepared in accordance with GAAP. Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this presentation for a reconciliation to the nearest GAAP financial measure.

SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our results of operations, financial condition and financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Such factors include, without limitation, the “Risk Factors” referenced in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and other risks and uncertainties listed from time to time in our reports and documents filed with the Securities and Exchange Commission. We can give no assurance that any goal or plan or expectation set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements. The forward-looking statements are made as of the date of this presentation, and we do not intend, and assume no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

QUARTERLY HIGHLIGHTS Ty Abston CEO and Chairman of the Board Shalene Jacobson EVP and Chief Financial Officer

Q3 2024 – FINANCIAL RESULTS EARNINGS, ROAA AND NIM BALANCE SHEET NONINTEREST INCOME AND EXPENSE Total assets were $3.10 billion at Sep 30, 2024, compared to $3.18 billion at Dec 31, 2023 Total gross loans were $2.14 billion at Sep 30, 2024, compared to $2.32 billion at Dec 31, 2023 Gross loans decreased $78.5 million (3.5%) in 3Q24 Purchased $21.4 million in AFS MBS in 3Q24 at a weighted average yield to maturity of 4.9%, and $15.0 million in AFS US Treasuries at a weighted average yield of 3.9% Total deposits were $2.67 billion at Sep 30, 2024, compared to $2.63 billion Dec 31, 2023 Repaid all FHLB borrowings in 3Q24 Total equity was $319.3 million at Sep 30, 2024 compared to $303.8 million at Dec 31, 2023 Paid cash dividend of $0.24/share in 1Q24 through 3Q24, compared to $0.23 in each quarter in 2023 Noninterest income increased by $555,000, or 12.1%, from $4.6 million in 2Q24. The increase resulted primarily from a $900,000 ORE valuation allowance during 2Q24 and not present in current quarter Noninterest expense increased $76,000, or 0.4%, from 2Q24, due primarily to ORE-related holding costs during 3Q24 Efficiency ratio of 70.47% for 3Q24, compared to 72.34 % for 2Q24 and 72.64% for 3Q23 Net earnings of $7.4 million in both 3Q24 and 2Q24, compared to $6.3 million in 3Q23 Net earnings per basic share of $0.65 in both 3Q24 and 2Q24, compared to $0.54 in 3Q23 ROAA of 0.96% and ROAE of 9.58%, compared to 0.95% and 9.91%, respectively, in 2Q24 Net interest margin (FTE) was 3.33%, compared to 3.26% in 2Q24 and 3.02% in 3Q23 Loan yield was 6.35%, compared to 6.29% in 2Q24 and 5.91% in 3Q23 Cost of total deposits was 2.31%, compared to 2.28% in 2Q24 and 1.98% in 3Q23** **Non-GAAP financial metrics. Calculations of these metrics and reconciliations to GAAP are included in the Reconciliation of Non-GAAP Financial Measures pages at the end of this presentation.

ACL Reverse provision for credit losses of $500,000 in 3Q24 and $1.95 million reversal YTD Reduction in gross loan balances and stable credit trends No qualitative factor adjustments in 3Q24 Allowance for credit losses (ACL) coverage is 1.34% at Sep 30, 2024 and 1.33% at Dec 31, 2023 LOAN PORTFOLIO & CREDIT QUALITY Gross loans decreased $78.5 million, or 3.5%, in 3Q24, and $186.0 million YTD Weighted average yield on new loan originations in 3Q24 was 8.07%, compared to 8.26 % in 2Q24 Nonperforming assets to total assets were 0.66% as of Sep 30, 2024 and 0.71% as of Jun 30, 2024 Net charge-offs were $239,000 in 3Q24, compared to $78,000 in 2Q24 and $619,000 in 3Q23 Net charge-offs to average loans were 0.04% in 3Q24, compared to 0.01% in 2Q24 and 0.11% in 3Q23 Loan portfolio quality remains strong and we expect credit metrics to continue to benefit from good economic conditions in Texas CRE and real estate C&D represent 40.5% and 10.0% of our total loan portfolio, respectively. Office-related loans represent 5.8% of the total loan portfolio and have an average balance of $544,000 Nonaccrual loans were $5.1 million as of Sep 30, 2024 and $6.2 million as of Jun 30, 2024, or 0.24% and 0.28% of total loans, respectively Substandard loans at Sep 30, 2024 were $12.3 million, down from $18.7 million at Jun 30, 2024. Q3 2024 – CREDIT & ACL INFO

DEPOSITS Granular deposits: 89,878 total deposit accounts with an average balance of $29,695 Uninsured deposits, excluding public funds and GNTY-owned accounts, are 26.3% of total deposits Total deposits increased by $42.8 million during 3Q24. Time deposit and DDA balances increased $24.5 million and $19.2 million, respectively, while savings and MMDA balances decreased $965,000 Loan-to-deposit ratio of 80.1% as of Sep 30, 2024, 84.3 % as of Jun 30, 2024 and 87.2% as of Sep 30, 2023 Noninterest-bearing deposits represent 31.5% of total deposits as of Sep 30, 2024, down from 32.4% as of Dec 31, 2023 and 34.0% as of Sep 30, 2023 Q3 2024 – Deposits, Liquidity & Capital LIQUIDITY & INVESTMENTS Liquidity ratio* was 17.1% at Sep 30, 2024 FHLB advances decreased $175.0 million from 3Q23 and no advances at Sep 30, 2024 Total available contingent liquidity from all sources is $1.4 billion at Sep 30, 2024 Total net unrealized loss on investment securities is $33.2 million, comprised of $10.6 million AFS and $22.6 million HTM. Net of tax, total unrealized loss is $26.2 million, which is 8.0% of total equity before losses** Capital ratios remain strong. Total equity to average assets as of Sep 30, 2024 is 10.4% If we had to recognize our entire unrealized losses on both AFS and HTM securities, the ratio would be 9.8%** During 3Q24, we repurchased 59,996 shares Company stock at an average price of $30.65 per share. During 2Q24, we repurchased 138,427 shares at an average price of $29.56 per share CAPITAL *Calculated as cash and cash equivalents and unpledged securities divided by total liabilities. **Non-GAAP financial metrics. Calculations of these metrics and reconciliations to GAAP are included in the Reconciliation of Non-GAAP Financial Measures pages at the end of this presentation.

Q & A

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Net Unrealized Loss on Securities, Tax Effected, as a Percentage of Total Equity (dollars in thousands) September 30, 2024 Total equity(1) $ 319,293 Less: net unrealized loss on HTM securities, tax effected (17,852) Total equity, including net unrealized loss on AFS and HTM securities $ 301,441 Net unrealized loss on AFS securities, tax effected 8,374 Net unrealized loss on HTM securities, tax effected 17,852 Net unrealized loss on AFS and HTM securities, tax effected $ 26,226 Net unrealized loss on securities as % of total equity(1) 8.2% Total equity before impact of unrealized losses $ 327,667 Net unrealized loss on securities as % of total equity before impact of unrealized losses 8.0% Total average assets $ 3,066,380 Total equity to average assets 10.4% Total equity, adjusted for tax effected net unrealized loss, to average assets 9.8% (1) Includes the net unrealized loss on AFS securities of $8.4 million, tax effected.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Cost of Total Deposits Quarter Ended (dollars in thousands) September 30, 2024 June 30, 2024 September 30, 2023 Total average interest-bearing deposits $ 1,821,395 $ 1,795,958 $ 1,726,218 Adjustments: Noninterest-bearing deposits 800,573 818,290 888,772 Total average deposits $ 2,621,968 $ 2,614,248 $ 2,614,990 Total deposit-related interest expense $ 15,243 $ 14,824 $ 13,069 Average cost of interest-bearing deposits 3.33% 3.32% 3.00% Average cost of total deposits 2.31 2.28 1.98

Document And Entity Information	Oct. 21, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 21, 2024
Entity Registrant Name	GUARANTY BANCSHARES, INC.
Entity Central Index Key	0001058867
Entity Emerging Growth Company	false
Securities Act File Number	001-38087
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-1656431
Entity Address, Address Line One	16475 Dallas Parkway
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Addison
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75001
City Area Code	888
Local Phone Number	572-9881
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	GNTY
Security Exchange Name	NYSE