Guaranty Bancshares, Inc. (NYSE: GNTY) shares gained sharply first thing Tuesday, as the parent company of Guaranty Bank & Trust, N.A. today reported financial results for the fiscal quarter and year ended December 31, 2024.
The Company's net income available to common shareholders was $10.0 million, or $0.88 per basic share, for the quarter ended December 31, 2024, compared to $7.4 million, or $0.65 per basic share, for the quarter ended September 30, 2024 and $5.9 million, or $0.51 per basic share, for the quarter ended December 31, 2023.
Return on average assets and average equity for the fourth quarter of 2024 were 1.27% and 12.68%, respectively, compared to 0.96% and 9.58%, respectively, for the third quarter of 2024 and 0.73% and 7.93%, respectively, for the fourth quarter of 2023. The increase in earnings during the fourth quarter of 2024 compared to the fourth quarter of 2023 was primarily due to a $2.4 million, or 10.1%, increase in net interest income, a $930,000, or 19.4%, increase in noninterest income, and a decrease in noninterest expense of $1.5 million, or 7.1%, compared to the prior-year quarter. The increase in earnings as compared to the third quarter of 2024 was primarily driven by a $2.0 million, or 8.4%, increase in net interest income.
GNTY shares jumped $1.42, or 4%, to $36.74.
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