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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet | Condensed financial information of Guaranty Bancshares, Inc. follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,752 |  |  | $ | 2,987 |
Investment in banking subsidiary |  |  | 358,829 |  |  |  | 351,367 |
Other assets |  |  | 3,054 |  |  |  | 2,428 |
Total assets |  | $ | 363,635 |  |  | $ | 356,782 |
LIABILITIES AND EQUITY |  |  |  |  |  |
Line of credit |  | $ | — |  |  | $ | 4,500 |
Subordinated debt, net |  |  | 41,918 |  |  |  | 45,785 |
Accrued expenses and other liabilities |  |  | 3,219 |  |  |  | 3,197 |
Shareholders’ equity |  |  | 318,498 |  |  |  | 303,300 |
Total liabilities and shareholders’ equity |  | $ | 363,635 |  |  | $ | 356,782 |
Condensed Income Statement |
|  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Interest income |  | $ | 16 |  |  | $ | 15 |  |  | $ | 8 |
Other income |  |  | 3 |  |  |  | — |  |  |  | — |
Dividends from Guaranty Bank & Trust |  |  | 25,000 |  |  |  | 20,000 |  |  |  | — |
|  |  | 25,019 |  |  |  | 20,015 |  |  |  | 8 |
Expenses |  |  |  |  |  |  |  |  |
Interest expense |  |  | 2,071 |  |  |  | 2,506 |  |  |  | 1,755 |
Other expenses |  |  | 1,731 |  |  |  | 1,645 |  |  |  | 1,974 |
|  |  | 3,802 |  |  |  | 4,151 |  |  |  | 3,729 |
Income (loss) before income tax and equity in undistributed income of subsidiary |  |  | 21,217 |  |  |  | 15,864 |  |  |  | (3,721 | )
Income tax benefit |  |  | 1,082 |  |  |  | 912 |  |  |  | 924 |
Income (loss) before equity in undistributed earnings of subsidiary |  |  | 22,299 |  |  |  | 16,776 |  |  |  | (2,797 | )
Equity in undistributed earnings of subsidiary |  |  | 9,238 |  |  |  | 13,261 |  |  |  | 43,244 |
Net earnings |  | $ | 31,537 |  |  | $ | 30,037 |  |  | $ | 40,447 |
Comprehensive income |  | $ | 29,761 |  |  | $ | 28,975 |  |  | $ | 9,882 |
Condensed Cash Flow Statement |
|  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 31,537 |  |  | $ | 30,037 |  |  | $ | 40,447 |
Adjustments: |  |  |  |  |  |  |  |  |
Equity in undistributed subsidiary earnings |  |  | (9,238 | ) |  |  | (13,261 | ) |  |  | (43,244 | )
Stock based compensation |  |  | 542 |  |  |  | 594 |  |  |  | 688 |
Change in other assets |  |  | (493 | ) |  |  | (945 | ) |  |  | (724 | )
Change in other liabilities |  |  | (68 | ) |  |  | (60 | ) |  |  | 226 |
Net cash provided by (used in) operating activities |  |  | 22,280 |  |  |  | 16,365 |  |  |  | (2,607 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Net cash provided by investing activities |  |  | — |  |  |  | — |  |  |  | — |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Proceeds from line of credit |  |  | 3,000 |  |  |  | 17,500 |  |  |  | 35,436 |
Repayments of borrowings |  |  | (11,500 | ) |  |  | (16,500 | ) |  |  | (11,093 | )
Purchase of treasury stock |  |  | (6,368 | ) |  |  | (11,227 | ) |  |  | (8,838 | )
Exercise of stock options |  |  | 2,257 |  |  |  | 698 |  |  |  | 1,565 |
Cash dividends paid |  |  | (10,904 | ) |  |  | (10,697 | ) |  |  | (10,324 | )
Net cash (used in) provided by financing activities |  |  | (23,515 | ) |  |  | (20,226 | ) |  |  | 6,746 |
Net change in cash and cash equivalents |  |  | (1,235 | ) |  |  | (3,861 | ) |  |  | 4,139 |
Beginning cash and cash equivalents |  |  | 2,987 |  |  |  | 6,848 |  |  |  | 2,709 |
Ending cash and cash equivalents |  | $ | 1,752 |  |  | $ | 2,987 |  |  | $ | 6,848 |

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