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Guaranty Federal Bancshares, Inc. Announces Preliminary 2017 Financial Results

GUARANTY FEDERAL (GFED)  More Company Research Source: GlobeNewswire
PDF SPRINGFIELD, Mo., Jan. 19, 2018 (GLOBE NEWSWIRE) -- Guaranty Federal Bancshares, Inc., (NASDAQ:GFED), the holding company (the “Company”) for Guaranty Bank (the “Bank”), today announces the following preliminary results for the fourth quarter and year ended December 31, 2017. Fiscal Year 2017 Financial Highlights Financial Condition – December 31, 2017 versus December 31, 2016 Total assets grew $112.4 million (16%) to $800 million.Total gross loans increased $92.4 million (17%). Total deposits increased $101.5 million (20%).Nonperforming assets declined $1.1 million (9%) to $10.2 million, which was 1.28% as a percentage of total assets.Tangible book value per share increased $1.07 (7%) to $17.16 at December 31, 2017. Results of Operations – Fiscal Year 2017 versus Fiscal Year 2016 Total revenues increased $4.9 million (16%).Net interest income increased $2.6 million (12%) and net interest margin increased to 3.36%.Income from sales of mortgage loans held fo [Read more]

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