Guaranty Bancshares, Inc. (GNTY) Q4 2023 Earnings Call Transcript

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Guaranty Bancshares, Inc. (NYSE:GNTY) Q4 2023 Earnings Conference Call January 16, 2024 11:00 AM ET

Company Participants

Ty Abston – Chairman & CEO

Shalene Jacobson – EVP & CFO

Cappy Payne – Senior Executive Vice President & CFO

Conference Call Participants

Graham Dick – Piper Sandler

Brady Gailey – KBW

Matt Olney – Stephens

Tim Mitchell – Raymond James

Operator

Good morning. Welcome to Guaranty Bancshares Fourth Quarter 2023 Earnings Call. My name is Nona Branch, and I will be your operator for today’s call. I want to remind everyone today’s call is being recorded. After today’s prepared remarks, there will be Q&A session. And our host for our call today will be Ty Abston, Chairman and CEO; Shalene Jacobson, Executive Vice President and CFO.

To begin our call, I will turn it over to our CEO, Ty Abston.

Ty Abston

Thank you, Nona. Good morning, everyone. Welcome to our fourth quarter 2023 earnings call. I’m coming to you from a Chili’s, Mount Pleasant, which is 15 degrees and Shalene, Cappy are in Addison, where it’s warmer at 16 degrees. So just to recap our year for last year, as I’ve done through the last few quarters, we did have a good year with acceptable results. Our margin is improving. We did see margin compression throughout the year like a lot of banks did. That seems to bottom down after Q2 during the year, and it’s been rebuilding.

We anticipate that to continue rebuilding in the year. Our asset quality remains strong. We are seeing one-off stresses on credits. But to date, we’ve been able to resolve those successfully by the restructuring and/or moving them out of the bank. So at this point, we don’t see anything systemic. It’s just been one-off stresses on individual credits that will pop up. As you would expect, with a 500 basis point

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