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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet | Condensed financial information of Guaranty Bancshares, Inc. follows:
|  | December 31, |
|  | 2023 |  |  | 2022 |
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,987 |  |  | $ | 6,848 |
Investment in banking subsidiary |  |  | 351,367 |  |  |  | 339,168 |
Other assets |  |  | 2,428 |  |  |  | 1,351 |
Total assets |  | $ | 356,782 |  |  | $ | 347,367 |
LIABILITIES AND EQUITY |  |  |  |  |  |
Line of credit |  | $ | 4,500 |  |  | $ | — |
Subordinated debt, net |  |  | 45,785 |  |  |  | 49,153 |
Accrued expenses and other liabilities |  |  | 3,197 |  |  |  | 3,230 |
Shareholders’ equity |  |  | 303,300 |  |  |  | 294,984 |
Total liabilities and shareholders’ equity |  | $ | 356,782 |  |  | $ | 347,367 |
Condensed Income Statement |
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Interest income |  | $ | 15 |  |  | $ | 8 |  |  | $ | 7 |
Dividends from Guaranty Bank & Trust |  |  | 20,000 |  |  |  | — |  |  |  | 18,000 |
|  |  | 20,015 |  |  |  | 8 |  |  |  | 18,007 |
Expenses |  |  |  |  |  |  |  |  |
Interest expense |  |  | 2,506 |  |  |  | 1,755 |  |  |  | 916 |
Other expenses |  |  | 1,645 |  |  |  | 1,974 |  |  |  | 2,520 |
|  |  | 4,151 |  |  |  | 3,729 |  |  |  | 3,436 |
Income (loss) before income tax and equity in undistributed income of subsidiary |  |  | 15,864 |  |  |  | (3,721 | ) |  |  | 14,571 |
Income tax benefit |  |  | 912 |  |  |  | 924 |  |  |  | 718 |
Income (loss) before equity in undistributed earnings of subsidiary |  |  | 16,776 |  |  |  | (2,797 | ) |  |  | 15,289 |
Equity in undistributed earnings of subsidiary |  |  | 13,261 |  |  |  | 43,244 |  |  |  | 24,517 |
Net earnings |  | $ | 30,037 |  |  | $ | 40,447 |  |  | $ | 39,806 |
Comprehensive income |  | $ | 28,975 |  |  | $ | 9,882 |  |  | $ | 36,482 |
Condensed Cash Flow Statement |
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 30,037 |  |  | $ | 40,447 |  |  | $ | 39,806 |
Adjustments: |  |  |  |  |  |  |  |  |
Equity in undistributed subsidiary earnings |  |  | (13,261 | ) |  |  | (43,244 | ) |  |  | (24,517 | )
Stock based compensation |  |  | 594 |  |  |  | 688 |  |  |  | 733 |
Change in other assets |  |  | (945 | ) |  |  | (724 | ) |  |  | (176 | )
Change in other liabilities |  |  | (60 | ) |  |  | 226 |  |  |  | 44 |
Net cash provided by (used in) operating activities |  |  | 16,365 |  |  |  | (2,607 | ) |  |  | 15,890 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Net cash provided by investing activities |  |  | — |  |  |  | — |  |  |  | — |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Proceeds from line of credit |  |  | 17,500 |  |  |  | 35,436 |  |  |  | 10,000 |
Repayments of borrowings |  |  | (16,500 | ) |  |  | (11,093 | ) |  |  | (17,000 | )
Purchase of treasury stock |  |  | (11,227 | ) |  |  | (8,838 | ) |  |  | — |
Exercise of stock options |  |  | 698 |  |  |  | 1,565 |  |  |  | 2,019 |
Cash dividends paid |  |  | (10,697 | ) |  |  | (10,324 | ) |  |  | (9,427 | )
Net cash (used in) provided by financing activities |  |  | (20,226 | ) |  |  | 6,746 |  |  |  | (14,408 | )
Net change in cash and cash equivalents |  |  | (3,861 | ) |  |  | 4,139 |  |  |  | 1,482 |
Beginning cash and cash equivalents |  |  | 6,848 |  |  |  | 2,709 |  |  |  | 1,227 |
Ending cash and cash equivalents |  | $ | 2,987 |  |  | $ | 6,848 |  |  | $ | 2,709 |

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