2015 Annual Report Summary
Guaranty Bank & Trust, N.A. | Member FDIC
Guaranty Bancshares, Inc. 2015 Annual Report Summary
Financial Highlights
(in thousands, except per share data)
2011
2012
2013
2014
2015
Operating Results
Net interest income
Provision for loan losses
Non-interest income
Net realized gain on securities
Non-interest expense
Earnings before provision for income taxes
At year end
Total assets
Loans, net of allowance
Investments in securities & time deposits
Deposits
Stockholders' equity
Common shares outstanding
Other financial data
Pre-tax return on total assets
Pre-tax return on stockholders' equity
Loans to deposits
Loan loss reserves to loans
Net yield on interest earning assets
Tier 1 leverage capital ratio
Efficiency ratio
$
33,492 $
31,843 $
35,368 $
399
9,023
2,960
30,819
14,257
1,064
11,209
3,590
30,102
15,476
1,745
10,848
578
31,264
13,785
39,123 $
1,322
10,904
(212)
34,754
13,739
47,759
2,175
11,187
77
42,375
14,473
$
1,090,796 $
1,160,070 $ 1,246,451 $
1,334,068 $ 1,682,640
630,113
342,839
699,192
386,966
784,423
358,090
956,467
1,001,813
1,076,792
97,739
7,151
97,095
7,375
112,289
8,016
1,063,271
397,975
1,466,197
137,736
8,901
600,343
368,051
931,808
85,610
6,876
1.37%
17.24%
65.07%
1.00%
3.48%
8.04%
1.38%
16.40%
66.54%
1.01%
3.07%
8.87%
1.17%
14.28%
70.50%
1.01%
3.23%
8.80%
1.08%
12.28%
73.57%
0.97%
3.33%
9.05%
72.49%
69.92%
67.65%
69.47%
Charge-offs net of recoveries
$
958 $
688 $
1,006 $
694 $
Per share data (adjusted for a 2 for 1 stock split done August 2014)
Pre-tax net income
$
2.14 $
2.21 $
1.90 $
Market price (based on year end numbers)
Tangible book value
Cash dividends, not including tax as a S Corp
20.00
11.50
0.43
21.50
12.81
0.46
22.50
11.84
0.47
1.77 $
23.00
12.89
1.50
GNTY STOCK PRICE and
PRE-TAX EARNINGS PER SHARE
Table of Contents
Message from the Chairman of the Board
Texas Banking Regions
Executive Management Team
Our Story
Guaranty Gives Back
Mortgage Lending Group
Mortgage Warehouse Lending Group
Treasury Management Group
Wealth Management Group
Board of Directors - Bank
Bank Officers
Board of Directors - Bancshares
& Investor Information
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16
e
c
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r
P
k
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0.93%
10.65%
72.52%
0.87%
3.33%
8.33%
71.89%
633
1.65
24.00
13.21
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$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Earnings
Per
Share
Stock
Price
Stock
Price
Earnings
Per
Share
Ty Abston
Chairman of the Board & CEO
Dear Fellow Shareholders,
Guaranty Bancshares completed another successful year in 2015, not just
in terms of financial results but also in the execution of several significant
strategic initiatives. In many ways, 2015 was a transformational year for
Guaranty, positioning our company for continuing success in the years
ahead. We began the year by integrating two acquisitions in the DFW market,
Preston State Bank and Texas Leadership Bank, consolidating most of our
corporate departments between our Mount Pleasant market and the newly
entered Dallas market, and executing on aggressive corporate growth and
profitability goals. While our earnings were negatively impacted by nearly
$1.5 million in extraordinary expenses tied to acquisition and relocation
related expenses, we do feel as though these one-time expenses were a
good investment in positioning the company well for the future. The bank
achieved record loan growth of over $280 million (35%) and record deposit
growth of over $389 million (36%), with total assets topping $1.6 billion. We
expanded our loan and deposit operations capabilities in our Mount Pleasant
corporate facilities, while successfully relocating and establishing corporate
departments for accounting, treasury management, loan review, mortgage,
mortgage warehousing, and marketing into Dallas.
Successful execution of these strategic moves centered around our
strongest asset as a company—a great team. Our staff all work together
toward common goals, think like owners, and are always dedicated to doing
whatever is necessary to further advance our company. As I stated last year,
implementing significant strategic plans and initiatives doesn’t come without
risks and a certain level of angst. But that fact alone doesn’t mean it’s not the
right strategy for the future. It simply requires a sound vision for the future,
the right talent to execute that vision, and the will to get the job done. I am
very proud to say that our team was able to successfully execute on all fronts.
In addition to acquisitions, our growth last year was the result of strong organic
growth and the expansion of our business model to other markets. Bank
locations that were opened in 2013 and 2014 in Bryan, College Station, and
Longview experienced strong growth in loans and deposits in 2015. Guaranty
has already built a strong reputation in these new markets, attracting local
businesses and entrepreneurs who appreciate Guaranty’s commitment to
understanding their needs. Our banks in the East Texas market had a solid
year, with growth and milestones achieved in almost every one of our markets.
Guaranty also opened another banking office in the DFW market in Rockwall
Total Loans
(in thousands)
Total Assets
(in thousands)
2015 Annual Report page 1
Growing because we help you grow®$200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 20112012201320142015Total Loans(In Thousands)$200,000 $600,000 $1,000,000 $1,400,000 $1,800,000 20112012201320142015Total Assets(In Thousands) This regional model will
be the foundation of our
franchise going forward.
Within each region, we
will expand and grow as
opportunities that add
value present themselves.
in September 2015. We are also very excited about the opportunities that our
expansion into the Denton market, just announced early in 2016, will bring our
bank in the coming years.
For the 23rd consecutive year, we paid dividends to shareholders, 50 cents
per share in 2015, which is equal to last year’s dividend. We understand that
our shareholders look for growth and an income stream with their Guaranty
stock investment. Our year-end stock appraisal is $24.00 per share, up from
$23.00 at the beginning of 2015. While this represents only a 4.3% increase,
excluding dividends, it is encouraging in a year that saw Texas-based bank
stocks generally decline, many by 30% or more, along with the decline in
energy prices.
Guaranty’s new regional banking model
We now operate in three distinctive regions throughout our state. Our East
Texas Region has 18 banks with five executive officers, four in Mt. Pleasant
and one in Texarkana. Our DFW Region currently has five bank locations with
three executive officers. And our Central Texas Region currently has two
bank locations and one executive officer in that region.
This regional model will be the foundation of our franchise going forward.
Within each region, we will expand and grow as opportunities that add value
present themselves. Mt. Pleasant remains our corporate hub for technology,
loan, and deposit operations. As in 2015, we will continue to expand our Mt.
Pleasant operational divisions as our company continues to grow in all of our
regions throughout the state.
Future Plans
We recently updated our Strategic Plan. This extensive document clearly
outlines our plans for the coming years. We plan to remain a leading
community bank committed to the core values of our Guaranty culture as we
execute our expansion strategy throughout the state. Our long-term strategy
is to generate shareholder value through the following actions:
• Maintain Focus on Organic Growth. We will continue to focus on growth
within our existing markets and regions. We have a history of being a
leading provider of financial services to small- and medium-sized
businesses, professionals, and individuals. We believe these customers
value the relationship-driven, quality service we provide and the quality
of our team.
•
Pursue Strategic Acquisitions. We will consider strategic acquisitions
Total Deposits
(in thousands)
Total Shareholders Equity
(in thousands) unaudited
2015 Annual Report page 2
Growing because we help you grow®20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 20112012201320142015Total Shareholder Equity(In Thousands)$200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 20112012201320142015 We will continue to
invest in technology that
enhances our business and
the customer experience,
as well as enables us to
integrate and effectively
manage our banking
location network.
•
•
•
within our current markets and regions, if we feel they make sense, are
additive to our franchise, and will not damage or change our culture.
Establish Banking Locations in New Markets. We intend to continue hiring
the right bankers to open banking locations in other attractive markets
in Texas to further grow our franchise in this great state. Organic growth
is our bread and butter, and we know how to grow banks. Although few
banks are truly good at this type of growth, Guaranty has proven to be
very capable in growing banks organically. In fact, the vast majority of our
historical growth is organic, not acquired. We understand what it takes to
grow a bank from the ground up, and we will keep building our franchise
on this proven model. We believe that the DFW Region, as well as our
Central Texas Region headquartered in Bryan/College Station, offers
tremendous opportunities for future growth. Several dynamic markets in
Central Texas between Houston, San Antonio, and Austin also offer us
future opportunities for growth. Presently, we lack a presence in a few key
markets in our East Texas Region, so we will continue to look for the right
entry point into those markets. So while 2015 was certainly a busy year for
us, we have tremendous opportunities ahead.
Expand Revenue Sources. We seek to provide additional services to our
customers in order to serve their needs and create additional revenue
sources for the bank. Consistent with our focus on cross-selling services
to our customers, we continue to expand trust and wealth management
services through Guaranty Bank & Trust Wealth Management Group,
mortgage services, and mortgage warehouse operations, all of which
operate as divisions of Guaranty Bank & Trust. Moreover, we have
significantly expanded our
treasury management and merchant
processing services for our commercial customers.
Invest in Technology Leadership. We believe that financial institutions
are increasingly becoming technology companies. We will continue
to invest in technology that enhances our business and the customer
experience, as well as enables us to integrate and effectively manage
our banking location network. The recent upgrade to our core operating
system has streamlined many processes, which in turn has created a
scalable corporate infrastructure that both enhances our ability to manage
continued growth and improves our levels of operational efficiency. Our
investments in technology have also enabled us to compete effectively
with larger institutions while retaining our ability to offer customized,
relationship-based services to our customers.
New Locations in 2015
Dallas
Parkway
Dallas
Preston Center
Rockwall
Royse City
2015 Annual Report page 3
Growing because we help you grow® Plans for 2016
We have worked very hard over the last few years to create the platforms
necessary to continue to grow our bank in an environment of increasing
regulatory burden and technological complexity. Absorbing these changes,
as well as implementing required policies and procedures from recently
enacted laws and regulations, continues to be a challenge. We have strong
growth projected in 2016 in both loans and deposits. However, we plan to be
prudent in a slowing economy, given the realities of the energy sector and its
related impact on the Texas economy.
One thing we will never compromise is asset quality. We will remain very
prudent with our credit underwriting, even if that means dialing back our
growth in the process. We will always manage the bank and risks for the long-
term, not the short-term. Recently opened banks must successfully become
established in their prospective markets and create foundations for future
growth and profitability. This execution risk is always on us as we expand into
new markets. However, we have yet to fail to bring a bank online and make it
accretive to Guaranty’s growth and success.
We continue to see great opportunities ahead for our Company. We have
the strength and asset base to serve customers of all sizes, offer an array
of commercial and consumer banking products, maintain state-of-the-art
secure networks for our customer’s peace of mind, and employ top bankers
throughout our banking footprint to serve our customers and clients.
We look forward to the exciting possibilities that lie ahead for our Company.
Thank you, fellow shareholders, for your continued investment, support, and
confidence in Guaranty Bank & Trust and Guaranty Bancshares.
We have strong growth
projected in 2016 in
both loans and deposits.
However, we plan to be
prudent in a slowing
economy, given the
realities of the energy
sector and its related
impact on the Texas
economy. One thing we
will never compromise is
asset quality.
Ty Abston
Chairman of the Board & CEO
Guaranty Bancshares, Inc.
Total Return Performance
Period Ending
Index
12/31/10
12/31/11
12/31/12
12/31/13
12/31/14
12/31/15
Guaranty Bancshares, Inc.
S&P 500
SNL Southwest Bank Index
100.00
100.00
100.00
113.64
102.11
84.19
124.92
118.45
98.49
133.67
156.82
143.55
145.67
178.28
137.88
155.33
180.75
130.72
2015 Annual Report page 4
Texas Banking Regions
Member FDIC
25
bank locations
18Texas communities
44ATM locations
2015 Annual Report page 5
6TEXASTempleTexarkanaTeTexarkannanaaaTememTple66San AntonioRichardsonDFW Region$200 MillionAustinCentral Texas Region$200 MillionEast Texas Region$1.2 BillionHallsvilleHoustonGarlandRoyse CityRockwallMesquitePlanoFt. WorthDentonIrvingNew BostonSulphur SpringsCommerceLongviewBryanCollege StationWacoBogataMt. VernonTylerParisAtlantaMt. PleasantPittsburgDallasArlington Executive Management Team
Ty Abston - Chairman of the Board & Chief Executive Officer
Ty Abston is Chairman of the Board and Chief Executive Officer of Guaranty Bank & Trust, as well as its parent
company Guaranty Bancshares, Inc. He is also Chairman of the Executive Committee of the Board, a member of the
Director’s Loan Committee, and either chairs or serves on all the key operational committees of the bank.
During his 28 year banking career, Abston has demonstrated strong skills in bank management, strategic planning,
and mergers & acquisitions. In addition to oversight of the commercial lending and loan portfolio divisions, he chairs
the bank’s Investment Committee, managing $400 million in securities for the bank. He has served on the boards of the
Federal Home Loan Bank of Dallas, Independent Bankers Association of Texas, and Texas Security Bank in Dallas.
Abston received his bachelor’s degree in Finance from the University of North Texas and his MBA in Finance from
Texas A&M University–Texarkana. He is a graduate of America Bankers Association's National Commercial Lending
School.
Abston maintains dual offices in the Dallas and Mt. Pleasant markets.
Kirk Lee - Vice Chairman & Chief Credit Officer
Kirk Lee has over 30 years of experience in banking. Currently serving as Vice Chairman and Chief Credit Officer
of Guaranty Bank & Trust, and as President of its parent company Guaranty Bancshares, Inc. Lee also chairs the
Director’s Loan Committee and is a member of the Executive Committee. He served the Arkansas State Banking
Department as a Bank Examiner Supervisor, and worked a number of years in commercial lending and management
at another community bank prior to joining Guaranty in 1992 as President of the bank’s Paris location. Lee chairs or
serves on all the key operational committees of the bank.
He holds a B.A. in Business Administration from Ouachita Baptist University as well as graduated from the
Southwestern Graduate School of Banking in Dallas.
Lee offices in the Bryan/College Station market.
Cappy Payne - Senior Executive Vice President & Chief Financial Officer
Cappy Payne is the Senior Executive Vice President and Chief Financial Officer for Guaranty Bank & Trust and its
parent company Guaranty Bancshares, Inc. and is a member of the Executive Committee. He started with the bank
in 1984 as a Credit Analyst, advancing to Senior Loan Officer, Controller, and Investment Officer. He has served as a
director of the bank and holding company since 1995.
With over 30 years of executive financial experience, Payne oversees Guaranty Bank & Trust's divisions in Accounting,
Human Resources, and Marketing. He chairs or serves on all the key operational committees of the bank. During his
tenure as CFO, Guaranty Bank & Trust went public in 1998, was listed on the NASDAQ Stock Exchange, and then
returned in 2005 to a private entity. Guaranty Bancshares Inc. is currently a privately held company.
In 1980, Payne began his career with a regional CPA firm, becoming a certified public accountant in 1985 after joining
Guaranty. Payne holds a BBA in Accounting from Baylor University and is a licensed CPA.
Payne offices in the Dallas market.
Martin Bell - Executive Vice President & Chief Operations Officer
Martin Bell is Executive Vice President and serves as an advisory member of the Bank's Board of Directors. Bell has
commercial, real estate, and consumer lending responsibilities as well as administrative oversight of several East Texas
bank locations and the bank’s operations. He leads the bank’s Strategic Planning process and Merger and Acquisition
integrations. He also chairs or serves on all the key operational committees of the bank.
Bell has over 30 years experience in banking. He holds a BBA in Finance from Texas Christian University and
graduated from Texas Tech Intermediate and Advanced Schools of Banking. In 1991, he graduated with Honors from
the Southwestern Graduate School of Banking in Dallas.
Bell offices in the Mt. Pleasant market.
Chuck Cowell - Dallas Area Market Chairman
Chuck Cowell is the Dallas Area Market Chairman for Guaranty's banking operations in the DFW Metroplex and
serves as an advisory member of the Bank's Board of Directors. He also supervises the Mortgage Lending, Mortgage
Warehouse, Treasury Management, and Loan Review divisions as well as serves on all the key operational committees
of the bank. Previously, Cowell served as President and CEO of Preston State Bank and its parent company DCB
Financial Corp. in Dallas since September 2009. He has over 40 years of industry experience; having served in
Executive Officer positions for both privately held and publicly traded institutions in Midland, Graham, Abilene and
Houston markets.
Cowell received his undergraduate degree in Finance from Texas Tech University and is a graduate of the National
Installment Lending School in Norman, Oklahoma and the Southwestern Graduate School of Banking in Dallas.
Cowell offices in the Dallas market.
2015 Annual Report page 6
Executive Management Team
Randy Kucera - Executive Vice President & General Counsel
Randy Kucera is the bank’s General Counsel and serves as an advisory member of the Bank's Board of Directors. He
also serves as Executive Vice President and General Counsel for Guaranty Bancshares, Inc. Prior to joining Guaranty
Bank & Trust in 2013, he was a partner in the litigation section of the Akin Gump Strauss Hauer and Feld law firm in
Dallas. And before joining the law firm, he was an assistant district attorney in the Dallas County District Attorney’s
Office.
In his 30-year legal career, Mr. Kucera has focused on complex commercial litigation, including a wide variety of
contract, antitrust, lender liability, business tort, intellectual property, and insurance matters. He served as the litigation
partner in charge of Akin Gump’s commercial mortgage-backed securities (CMBS) litigation practice which handled
complex commercial real estate litigation involving institutional lenders, financial service companies, conduit lenders,
and master and special services.
He graduated summa cum laude with a B.A. in Political Science in 1979 from Vanderbilt University and earned his J.D.
in 1983 from Yale Law School. He is a member of the State Bar of Texas and is admitted to practice before the U.S.
Supreme Court, the U.S. Courts of Appeals for the 5th and 7th Circuits, and the U.S. District Courts for the Northern,
Southern, Eastern, and Western Districts of Texas.
Kucera offices in the Mt. Pleasant market.
Hal Lower - Executive Vice President
Hal Lower is Executive Vice President of Guaranty Bank & Trust, serves as an advisory member of the Bank's Board
of Directors, and is an advisory member of the Director’s Loan Committee. Lower has an extensive accounting
background that supports his credit and lending duties. With administrative oversight of Guaranty Bank & Trust's
Bowie County and Cass County locations, he also chairs or serves on all the key operational committees of the bank.
Additionally, Lower has oversight of the Trust and Wealth Management department.
Lower has over 27 years experience in the financial services industry. In addition to being a licensed CPA, he holds a
Bachelor’s Degree in Accounting from Texas A&M University in College Station.
Lower offices in the Texarkana market.
Danny Muskrat - Executive Vice President & Chief Technology Officer
Danny Muskrat is Executive Vice President and Chief Technology Officer and serves as an advisory member of the
Bank's Board of Directors. Muskrat has 17 years of banking experience in digital channel growth, operations, network
infrastructure, system conversions, data processing, and information security. He chairs the Technology Committee
and the Business Intelligence Committee in addition to oversight of the Deposit Services, Data Processing, Internet
Banking, and IT departments of the bank. Muskrat chairs or serves on most of the key operational committees of the
bank.
Muskrat earned a Bachelor’s Degree in Business Administration with a major in Information Systems Management and
a Master’s Degree of Business Administration from Baylor University.
Muskrat offices in the Mt. Pleasant market.
Robin Sharp - Executive Vice President & Chief Risk Officer
Robin Sharp is Executive Vice President and is an advisory member of the Bank's Board of Directors. In addition
to commercial lending responsibilities, he has administrative oversight of the Titus County bank locations and he
supervises the bank’s Regulatory Compliance, Risk Management, and Loan Operations divisions. Sharp chairs or
serves on all key operational committees of the bank.
Sharp has over 30 years experience in banking. He earned his Bachelor’s degree from Texas Tech University,
attended the American British College in Barcelona, Spain, and continued his education at the Southwestern Graduate
School of Banking in Dallas where he graduated with Honors in 2007.
Sharp offices in the Mt. Pleasant market.
2015 Annual Report page 7
Top Performing Bank
By Bank Director magazine.
Best Companies to Work for in
Texas for seven years in a row
By Texas Monthly magazine
5-Star Rated - 2016
One of the Strongest Financial
Institutions in the Nation
By Bauer Financial, Inc.
Texas Treasure Business Award
By Texas Historical Commission
Our Story
Established in 1913 Guaranty Bank & Trust is
one of the oldest and most respected banks
in Texas. We have achieved this success by
striving to provide the communities we serve
with a different kind of bank. One that believes
smart banking is about investing in people,
not just credit scores. That it succeeds with
the community, not at its expense. And that
it means having a plan for your growth, not
just our own.
We work hard to attract, retain, and develop
the best bankers. This means you will get
sound, quality advice from a local expert you
can trust.
We encourage our employees to give back
to
the communities we serve because
volunteering not only has a positive impact
on the community but also on our employee.
Finally, we focus on strength and stability so
our customers know they can depend on us
during difficult times. At Guaranty Bank &
Trust we are “growing because we help you
grow.”
2015 Annual Report page 8
Guaranty Gives Back
Our company feels strongly that our communities are the key to our future. Therefore, the
Guaranty Gives Back initiative was started to encourage our employees to volunteer their
time, talents, and resources for the betterment of the communities we serve. Our employees
have taken the Guaranty Gives Back concept to heart, as is evident in the positive impact
they have made in all of our local communities through participating in clothing, toy, and
food drives, volunteering at events honoring our customers, fund-raising for local charities,
and working to improve local parks, trails, and general living conditions.
2015 Annual Report page 9
Twila Baker
Mortgage Lending Group
Transition best describes 2015 for the Mortgage Lending Group. Historic
changes were seen industry wide with the implementation of new integrated
disclosure rules “TRID” replacing the long standing HUD-1 settlement
statement and Good Faith Estimate. Although designed to better assist
consumers in their efforts to compare mortgage products and fees, the
transition and implementation by the industry was a significant challenge.
Guaranty Mortgage experienced two significant transitional events during
the year. The first was the relocation of the mortgage processing staff from
Texarkana to the Dallas Region. This relocation of resources was deemed
by management to be essential to long term growth and profitability of
this group. Additionally, new leadership was sourced with the addition
of Twila Baker as Senior Vice President and Manager as well as Wayne
Wallace as Vice President and Operations Manager. Both have significant
experience in all aspects of the mortgage origination, processing and
packaging functions. Their leadership, coupled with quality back office
staff and talented originators spread across the Guaranty footprint bodes
well for the future growth and success of this product line.
Despite these challenges, Guaranty Mortgage originated more than
410 loans totaling over $57 million dollars with an average loan size of
$197,000, and top line revenues in 2015 exceeded 2014. Prospects for
2016 are very bright as the mortgage market continues to be robust in
many of Guaranty’s key markets.
With this new group and improved technology, Guaranty Mortgage is well
placed for increased production and profitability in 2016. In the coming
months, we will continue to recruit talented loan officers for all major
markets.
New leadership, coupled with quality back
office staff and talented originators spread
across the Guaranty footprint bodes well for
the future growth and success of this product
line.
2015 Annual Report page 10
Growing because we help you grow® Mortgage Warehouse Group
The Mortgage Warehouse Group provides qualified “non-bank” mortgage
companies interim financing availability and liquidity for the closing of
agency eligible home loans. Advances are made to settlement agents
at initial loan closing with subsequent repayment to Guaranty upon final
funding by the secondary market investor.
This new line of business was added to Guaranty Bank & Trust in March
2015 via the acquisition of Preston State Bank. Chris Christensen, Senior
Vice President, and Jim Harrison, Sales Manager, bring a combined 50
years of industry experience and leadership to our company. In its first
year of operation, the group established a solid foundation of quality
warehouse clients, funding more than 1,300 loans for over $315 million
and was positively accretive to earnings.
Guaranty plans to prudently grow this line of business in 2016 by soliciting
quality mortgage lending companies which meet our underwriting criteria
and are located in expanding strong housing markets.
Chris Christensen
In its first year of operation, the group
established a solid foundation of quality
warehouse clients, funding more than
1,300 loans for over $315 million and was
positively accretive to earnings.
2015 Annual Report page 11
Growing because we help you grow® Treasury Management Group
The Treasury Management Group is committed to supporting and
promoting the bank’s treasury management products which includes
Online Banking, ACH Origination, Remote Deposit Capture, and Merchant
Services Processing that assists our commercial customers with efficient
cash flow management.
The department is lead by Rich Hickman, Vice President of Treasury
Management, who has over 30 years of experience in the industry and
Lisa Gonzalez, Sales Representative. This group acts as an advocate for
the business customer by ensuring that product offerings and services
are delivered with the Guaranty Bank & Trust philosophy and consistent
with the bank’s mission statement: to continually improve the financial
well-being of our customers and shareholders.
Rich Hickman
The Treasury Management Group was busy in 2015 and oversaw the
conversion of our merchant services client process to a new platform.
Staff training, customer visits and effective communication contributed to
the success of this transition. Since the completion of the migration to the
new platform we have doubled our client base.
We also focused growing our credit card portfolio. This resulted in an 84%
increase in revenue for 2015. Staff training and an aggressive marketing
campaign were the key drivers in accomplishing these results.
Looking forward, we will continue to engage our front line staff to identify
customer treasury management needs, establish more accurate reporting
of treasury management products, evaluate our product line to remain
competitive and continue to retain and grow our existing portfolios.
Treasury Management products
include Online Banking, ACH
Origination, Remote Deposit Capture
and Merchant Services for our
commercial customers.
2015 Annual Report page 12
Growing because we help you grow®
Jennifer Jefferies, JD, MSFS
Mick Trusty, JD, CFTA
Andrew Hoeniges, CFA
and Lacy McMillen
Wealth Management Group
In 2015, the Wealth Management Group not only returned the most
profitable year in the history of the company but also expanded services
to our individual and philanthropic clients despite the uncertain investment
market.
The group is positioned for long term growth. Andrew Hoeniges, our
Chief Investment Officer, relocated to the Bryan/College Station market
to develop our investment services capabilities. We will add depth to the
Central Texas Region with additional staff in the coming year.
Our short presence in the Dallas area has already
shown great potential for our fiduciary and wealth
management services. Bill Olsen was recently hired
as a Senior Wealth Management Officer for the Dallas
Region. He is an attorney and has over thirty five years
experience as a fiduciary professional. With Bill joining
us, we now have someone in the DFW Region devoted
to working with our existing and future clients.
Bill Olsen, JD
Minerals management services are in high demand. Through our client
base we now manage over 5,000 wells in 12 states. Historically, this service
has been a major part of Texas fiduciary business, and we will continue to
add to these managed properties.
We maintain our core management philosophy utilizing strategic asset
allocation strategies applied to our individual clients’ needs and risk
parameters. This philosophy is defensive in nature, suited to the continuing
uncertainty of the investment market in 2016.
Last year was a year of proven success. We look forward to more
opportunities to assist our clients and prospects in building and managing
their wealth for today and future generations.
Minerals management services are in high
demand. Through our client base we now
manage over 5,000 wells in 12 states.
2015 Annual Report page 13
Growing because we help you grow®
Guaranty Bank & Trust
Board of Directors
Ty Abston
Chairman of the
Board & CEO
Kirk Lee
Vice Chairman of
the Board & CCO
Cappy Payne
Senior Executive
Vice President &
CFO
Ricky Baker
KRB Investments
Barney Bray
Investments
Jeff Brown
RoseRock, CFO &
Managing Partner
Jim Bunch
President & CEO
BWI, Inc.
Johnny Conroy
Investments
Brad Drake
President Lamar
Fabrication
Chris Elliott
President Elliott
Auto Group
Carl Johnson, Jr.
Baker and Johnson
CPA
Tim Kelty
Broker-Owner
Century 21
Hometown Real
Estate
Brian Lee
Investments
Titus County Judge
Brian Mason
Chairman
LOOK Cinemas
Mike Nolan
Principal
Proterra Properties
Bill Priefert
Chairman &
CEO Priefert
Manufacturing
Carl Smith
Heritage
Constructors, Inc.
2015 Annual Report page 14
Bank Officers
CHAIRMAN of the BOARD & CEO
Ty Abston - Dallas/Mt. Pleasant
VICE CHAIRMAN of the BOARD &
CCO
Kirk Lee - Bryan/College Station
SENIOR EXECUTIVE
VICE PRESIDENT & CFO
Cappy Payne - Dallas
DALLAS MARKET CHAIRMAN
Chuck Cowell - Dallas
EXECUTIVE VICE PRESIDENTS
Martin Bell - Mt. Pleasant
Hal Lower - Texarkana
Danny Muskrat - Mt. Pleasant
Robin Sharp - Mt. Pleasant
EXECUTIVE VICE PRESIDENT &
GENERAL COUNSEL
Randy Kucera - Mt. Pleasant
LOCATION PRESIDENTS
Trent Abbott - Mt. Pleasant
Bob Butler - Dallas, Parkway
Bill Forbus - Royse City
Jeremy Fykes - Denton
Kenny Hamilton - Atlanta
Ryan Hamilton - Longview
Robert Irwin - Texakana
Joel Jackson - Bryan/College Sation
Mike Merritt - Dallas, Preston Center
Jeff Nutt - Paris
Craig Roberts - Sulphur Springs
Rachel Rosas-Miner - Pittsburg
Brandon Sears - Rockwall
SENIOR VICE PRESIDENTS
Twila Baker - Dallas
Steve Bledsoe - Bryan
Chris Christensen - Dallas
Buffy Dyess - Longview
Marcana Ellithorp - Mt. Pleasant
Gene B. Erwin, Jr. - Dallas
Mark Greene - Dallas
Dan Herrington - Hallsville
Theta Hicks - Mt. Pleasant
Andrew Hoeniges - Bryan
Debbie Irby - Dallas
Lacy McMillen - Texarkana
Melissa Merchant - Mt. Pleasant
Sara Neal - Mt. Pleasant
Wayne Reynolds - Dallas
Joe Rose - Mt. Pleasant
Scott Shirk - Texarkana
Deb Tessmer - Dallas
Brad Thomas - Sulphur Springs
Mick Trusty - Mt. Pleasant
Justin White - Texarkana
Brandon Williams - Sulphur Springs
VICE PRESIDENTS
Bill Anderson - Mt. Pleasant
Erica Archer - College Station
Gail Blair - Mt. Pleasant
Alisa Boatner - Bryan
Chase Coleman - College Station
Sondra Cunningham - Mt. Pleasant
Gary Flemmons - Dallas
Mandy Freeman - Commerce
Dureen Fuller - Mt. Pleasant South
Susan Graham - Mt. Pleasant
Susy Guest - Mt. Pleasant
Jeff Harris - Texarkana
Rich Hickman - Dallas
Jennifer Jefferies - Texarkana
Matt Johnson - Longview
Natalie Kidd - Bryan
Terry Lain - Dallas
Amanda Mangrum - Royse City
Lois McAnally - Dallas
Veronica Mitchell - College Station
Zarinska Morton - Mt. Vernon
Bill Olsen - Dallas
Kim Shumate - Mt. Pleasant
Deann Sowels - Mt. Pleasant
Michelle Spigener - Mt. Pleasant
Tommy VanDeaver - Mt. Pleasant
Wayne Wallace - Dallas
Wade White - Longview
Brenda Wright - Sulphur Springs
Our Mission
"To continually improve the financial well-being of our
customers and shareholders."
2015 Annual Report page 15
Growing because we help you grow® Guaranty Bancshares, Inc.
Board of Directors
(L to R from the back:) Carl Johnson, Jr., Jim Bunch, Weldon Miller, Johnny Conroy, Bill Priefert, Art Scharlach, Ricky Baker, Brad Drake,
Kirk Lee, Ty Abston, Cappy Payne and Chris Elliott
Guaranty Bancshares, Inc.
Dividend Calendar
Dividends on Guaranty Bancshares, Inc.
common stock are payable, if paid,
semiannually in June and December.
Annual Meeting
The annual meeting of Guaranty
Bancshares, Inc. will be held on
Wednesday, April 20, 2016.
Corporate Headquarters
Guaranty Bancshares, Inc.
201 South Jefferson Avenue
Mt. Pleasant, Texas 75455
2015 Annual Report page 16
Investor Information 2015 Annual Report Summary
Guaranty Bank & Trust, N.A. | Member FDIC