A N N UA L R E P O R T
Growi ng B ecause We H elp Yo u G row
SECTION
SECTION
S EC T IO N
S ECT ION
L E T T E R TO
S H A R E H O L D E R S
2 0 1 9 Y E A R
I N R E V I E W
B OA R D O F
D I R E C TO R S
G UAR ANTY
B ANCS H ARE S , INC .
W H E R E W E ’ R E
G R OW I N G
1
TY ABSTON
Chairman of
the Board & CEO
JEFF BROWN
Managing Partner
RoseRock Capital Group
BRIAN MASON
Chairman
Look Cinemas
G R OW I N G
O U R B R A N D
2 0 1 9 BY T H E
N U M B E R S
G R OW I N G
F O RWA R D : T H E
5 –Y E A R P L A N
B OA R D O F
D I R E C TO R S
G UARANT Y BANK
& TR UST
SECTION
SEC T IO N
S EC TIO N
SE CT ION
2
r e p o r t
W e a r e p l e a s e d
s o l i d
t o
performance in nearly
every area of Guaranty
Bancshares (G NT Y)
for 2019. We achieved
record core earnings
of $33.3 million, representing a 21.20% increase
over 2018 core earnings of $27.5 million. Our 2019
net earnings of $26.3 million represents a 27.60%
increase over last year’s net earnings of $20.6 million.
We began the year with a strategic goal of improving
our net interest margin (NIM). In a year where many
banks saw a decline in their NIM, we improved ours
to 3.69%, from 3.49% the previous year. Loans and
deposits grew modestly to record levels of $1.71
and $1.96 billion respectively, or 2.90% and 4.60%
increases over 2018. Improving net interest margin
was a key objective in 2019; and will remain a primary
goal until we return to our historic average of over
4.00%. As outlined in our updated strategic plan,
this will create a better return on capital for our
shareholders. Additionally, Guaranty continues to
maintain a strong balance sheet, disciplined expense
management, and a healthy capital position. Our
nonperforming assets as a percentage of total
assets remains very low at 0.53% as of year-end.
While the overall stock market was volatile in 2019,
financial stocks did very well. Guaranty shares achieved
a total return for shareholders of 12.61%, which is
above our 5-year average return of 9.76% and 10-
year average return of 10.28%. This return included a
dividend of $0.70 per share, an increase of 16.70%over
the prior year’s dividend. We continue to focus on
total return for our shareholders and understand that
our dividend represents a strong value proposition
on an investment in our Company. Over the past
30 years, we have grown our dividend at a rate of
8.12% compounded annually. While we always remain
focused on increasing the intrinsic value of our shares,
we are just as focused on increasing our shareholders
income stream from their investment in GNTY.
As you are aware, the stock market experienced a
material sell off during the first quarter of 2020 due
to concerns over the Coronavirus outbreak and oil
price shock. This market selloff is likely a short-term
phenomenon that will correct itself over the coming
months and years. But as I am writing this letter,
these events are creating significant economic and
market disruptions and there is little clarity as to the
length of the outbreak or the timing of its recovery.
It is important during times of market uncertainty
that our shareholders remember that the intrinsic
value of a company is ultimately the real value of a
company, regardless of day-to-day market volatility.
Guaranty has never been stronger financially. We will
remain focused on increasing the intrinsic value of
our shares, as well as take advantage of differences
between this and mispriced market values of our
stock price from time to time with our stock buy-
back program. These share repurchases will create
additional long-term value for our shareholders.
In 2019, we repurchased 352,000 shares of common
stock in our buy-back program to help utilize our
excess capital and take advantage of what we believe
to be an attractive valuation for our stock. In the
coming year, we will continue to repurchase shares
on the open market when the price represents a
compelling long-term value.
STRATEGIC MOVES IN 2019
During the year, we achieved several key milestones
for our Company all designed to better position us for
continued future growth. Below is a list of significant
initiatives achieved by the Company in 2019:
• Opened a new bank location in the vibrant
Galleria area of the Houston market.
• Moved into our new corporate offices in Addison.
• Began construction and remodeling of our new
main bank location in Denton. We will relocate
from our current temporary space to this new
location in 2020.
• Finalized plans for a new technology center in
3
Mount Pleasant. This expansion adds 16,000
square feet to the existing 10,000 square foot
operations center. This highly secure and self-
contained technology center; designed and
equipped to provide continuity of service to all
of our Bank locations, even during emergency
conditions, will facilitate continued future growth
to over $5.0 billion in assets by our estimates.
The new state-of-the-art center will include
indoor and outdoor collaborative spaces for our
teams and will help us continue to attract top
talent. We expect construction to being in 2020.
• Developed a marketing strategy with a more
digitally focused platform and engaged a creative
and knowledgeable advertising firm. While
some of our advertising dollars will continue
in legacy media channels, like print, radio and
billboards, we will direct the majority of our future
advertising budget to digital channels including
social media, geofencing and paid search ads
that link customers and prospects to our Bank’s
products and services. This strategy will cover
our statewide banking footprint in a more
effective manner and leverages technologies
that will drive banking in the future.
• Developed a digital banking strategy that
will launch in 2020 and fully roll out over the
next couple of years. This new digital banking
strategy involves investments in software
platforms that will allow consumers to conduct
banking services whenever and wherever they
would like, across all of their digital devices
such as cell phones, computers, or tablets. With
the new platforms, consumers will be able to
open any deposit product we offer, receive fast
decisions on personal loans and conduct other
banking services, all at their convenience. While
customers will still have access to our statewide
banking facilities during business hours, this new
digital platform brings banking products and
services to the consumer without the restrictions
of office hours. We are very excited about what
this strategic initiative means for our future
• Launched new programs as part of Guaranty
University. Our training and development
team works with our entire staff to develop
programs that not only benefit individuals in
their career growth, but also strengthens our
Company. One new program provides every
employee with an online professional and
continuing education resource. The Leadership
Development Program is an in-depth yearlong
program in which select employees participate
in courses and in-person leadership and team
building activities that allow them to learn about
and improve various leadership traits and skills.
Over the years, Guaranty has been successful in
creating very positive financial results for our owners.
In fact, we are building today on those successes.
However, past successes never guarantee future
success. Banking remains a rapidly changing industry,
with technology and regulations significantly
impacting the business model of community banks
like ours. The strategic moves that we have made over
the last five years, and those that we will continue
to make in 2020, were designed to best position
Guaranty for the future.
PLANS FOR THE COMING YEAR
We are just now seeing the effects of the
Coronavirus outbreak in our country. It is unknown
how this event will play out and what impact it will
ultimately have on the overall economy or our Bank.
As with prior challenges throughout the history of our
Company, we will manage through the uncertainty
of this unprecedented event. We will learn more
efficient ways to operate the Bank and to deliver
exceptional banking services to our customers. Below
are the plans and strategies for our Company that
were in various stages of implementation prior to the
outbreak and downward turn in the economy. We will
continue to monitor the changing economic impact
and make decisions that we think are best for the long-
term benefit of our Company, staff and shareholders.
FOUNDATION FOR THE FUT UR E
We continue to make strategic moves and investments that
build upon our foundation to support future growth.
4
is truly an honor and reinforces what we know to
be true. Every day, we practice what we preach
when it comes to our commitment to the Guaranty
Culture and to our communities. In fact, Guaranty
employees collectively invested nearly 4,000 hours
in giving back to our communities last year. We will
always view Guaranty’s culture as one of our most
valuable assets and corporate stewardship as one of
our most important responsibilities.
IN CLOSING
Our models project continued progress in both
growth and profitability in 2020, but there are many
unknowns on how the Coronavirus outbreak will
negatively affect the economy and therefore our
Company. We will stand by our customers during
this time of need, even if that means we sacrifice our
short-term financial goals and results. The foundation
of our management decisions and strategies has
always been based on strong partnerships with our
customers while building long-term shareholder
value for our owners. We will continue on that
path, as this Company has for over 107 years.
Our team is very fortunate to lead such a great
Company. We look forward to the future and the
exciting possibilities that lie ahead for Guaranty.
Thank you, fellow shareholders, for your continued
investment, support, and confidence in Guaranty
Bancshares and Guaranty Bank & Trust.
T Y A B S TO N
CHAIRMAN OF THE BOARD & CEO
Our strategies for 2020 include:
• Opening a second location in Bee Cave, located
in the Austin market. Leading this effort is a
team of talented bankers from the community
and we expect the location to open in the first
quarter of 2020. We remain very pleased with
the growth and opportunities we see in the
Austin market.
• Consolidating our Bellaire location in the
Houston region into the new Galleria location.
This eight-mile move creates over $400,000 in
annual cost savings without negatively affecting
our Houston footprint and leverages our exciting
new Galleria location.
• Remodeling our Bank locations in Sulphur
Springs and Mount Pleasant-South. We believe
that our customers and the communities will
really like the fresh and updated looks.
• Continuing to deploy our excess capital in
strategic ways that represent good long-
term value for our stakeholders, including the
possibility of additional stock repurchases
and bank acquisitions. During any given year,
we have the privilege to review numerous
potential acquisition opportunities. We consider
opportunities only when we see that there will
be a good culture fit. The bank must also be
located in a growing market, with the economics
of the transaction making sense for both parties.
When these factors are present, the financial
and collective synergy created can be beneficial
for both shareholder groups. We will continue to
look at opportunities that fit these parameters
and create great new partners for Guaranty.
STANDING ON THE SHOULDERS OF GIANTS
At the end of 2019, Art Scharlach, Weldon Miller,
and Johnny Conroy retired from our Company
board of directors. Guaranty truly appreciates their
contributions over several decades in helping make
Guaranty what it is today. They were instrumental in
helping Guaranty establish a strong foundation, and
today we simply build on what they helped to create.
Joining the Company board of directors at year-end
were Jeff Brown of Bryan and Mike Nolan of Dallas.
Jeff and Mike bring strong business skills and talents
to our board and we are lucky to have them join our
team. They will help us guide our Company while
maintaining the culture and philosophy that has
served us well over the past 50 years.
While we consider the high quality of Guaranty’s
team and culture to be integral to our success, others
continue to notice it as well. Texas Monthly recently
recognized us as one of the “Best Companies to
Work For” for an eleventh consecutive year! This
5
2
There are so many factors that go into a single year of growth.
In 2019, we were proud to have:
Achieved record core earnings of $33.3 million,
a 21.2% increase over 2018.
Improved our net interest margin from 3.49% to 3.69%.
Achieved a total return for shareholders of 12.61%, which is above
our five-year average of 9.76% and 10-year average of 10.28%.
Increased our tangible book value per share more than 105% over
the last 10 years, moving from $9.52 in 2009 to $19.55 in 2019.
GNTY outperformed the 2019 NASDAQ Bank Index.
6
R OW 1 – L E F T TO R I G H T
RICKY BAKER
TY ABSTON
MOLLY CURL
BILL PRIEFERT
Principal
KRB Investments, LLC
Chairman of the Board & CEO
Guaranty Bancshares, Inc.
Retired Partner
Grant Thorton, LLC
Chairman & CEO
Priefert Manufacturing, Inc.
R OW 2 – L E F T TO R I G H T
CAPPY PAYNE
Senior Executive Vice
President & CFO
Guaranty Bancshares, Inc.
KIRK LEE
President
JEFF BROWN
Managing Partner
RoseRock Capital Group
BRAD DRAKE
JIM BUNCH
President
Lamar Fabrication
President & CEO
BWI, Inc.
CARL JOHNSON JR.
MIKE NOLAN
CHRIS ELLIOTT
Guaranty Bancshares, Inc.
Baker & Johnson, CPA
Principal
Principal
Proterra Properties, Inc.
President
Elliott Auto Group
G UA R A N T Y B A N C S H A R E S , I N C .
3 7
DA L L A S / F O R T WO R T H
M E T R O P L E X
Addison
Denton
Dallas
Fort Worth
Rockwall
Royse City
E A ST T E X A S
Bogata
Commerce
Hallsville
Longview
Mount Pleasant
Mount Vernon
New Boston
Paris
Pittsburg
Sulphur Springs
Texarkana
C E N T R A L T E X A S
H O U STO N
Austin
Bryan
Conroe
Houston
College Station
Katy
Houston Galleria
SERVING THE COMMUNI TY
Our employees invested nearly 4,000 hours
giving back to our communities.
8
10:00
Early in the history of Guaranty, our
our trademark slogan. Over the course
brand was established on a foundation
of the year, we laid the groundwork for
o f s t ro n g va l u e s , p a r t i c u l a r l y o u r
creative marketing efforts with plans for
commitment to continually improving
the Growing Because We Help You Grow
the financial well being of our customers
campaign.
and shareholders. We’ve upheld our
values and differentiated our brand over
Our new campaign highlights the fact that
decades of consistent financial stability
too many consumers are banking with
and community leadership, and today the
people who don’t treat them right. Their
Guaranty brand is stronger than ever.
bankers don’t listen to them, or they’re not
honest with them, or worst of all, they’ve
As the business of banking continues
never actually seen their banker.
to change and as we emerge into new
markets, we not only want to resonate
In our ads, we introduce consumers to a
with new consumers, but also remain
series of “bad bankers,” reminding them
true to our heritage and maintain our
that there’s a different kind of bank out
relationships with loyal customers. So,
there who will treat them right: Guaranty,
going into 2019, one of our key branding
the bank that continues to grow because
strategies was to continue leveraging
we put the growth of our customers first.
9
GUA RANTY BANKERS
OTHER BANKERS
10
$35.00
30.00
25.00
20.00
15.00
10.00
5.00
-
$2.50
2.00
1.50
1.00
0.50
0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Stock Price
Earnings per Share
Dividends
11
FINANCIAL HIGHLI GHTS
(in thousands, except per share data)
2015
2016
2017
2018
2019
Non-interest expense
42,594
46,380
48,832
$47,759
$53,840
$59,630
$68,916
$78,870
2,175
11,483
77
3,640
13,016
82
2,850
14,279
167
14,473
4,362
10,111
16,571
16,836
4,715
12,121
22,677
8,238
14,439
20,394
25,360
2,250
15,303
(50)
56,774
25,195
4,599
20,596
27,495
1,250
16,973
(22)
62,536
32,057
5,778
26,279
33,329
O P E R AT I N G R E S U LT S
Net interest income
Provision for loan losses
Non-interest income
Net realized gain (loss) on securities
Earnings before provision for income taxes
Income tax provision
Net earnings
Core earnings (1)
AT Y E A R E N D
Total assets
$1,682,640
$1,828,336
$1,962,624
$2,266,970
$2,318,970
Loans and loans held for sale, net of allowance
1,063,271
1,236,214
1,349,675
1,647,239
Investments in securities
Total deposits
Stockholders’ equity
397,975
346,296
407,056
396,139
1,466,197
1,576,791
1,676,320
1,871,480
1,956,804
137,736
141,914
207,345
244,583
Common shares outstanding
8,901
8,752
11,059
11,830
OT H E R F I N A N C I A L DATA
Return on average total assets
Return on average stockholders’ equity
Loans to deposits
Loan loss reserves to loans
Net yield on interest earning assets
Tier 1 capital to average assets
Efficiency ratio (2)
Charge-offs net of recoveries
P E R S H A R E DATA
Net income
Market price (based on year end numbers)
Tangible book value per common share (3)
Cash dividends
(1) Pre-tax pre-provision pre-securities gain (loss)
0.65%
7.44%
0.68%
8.34%
72.89%
78.97%
0.87%
3.33%
8.33%
0.92%
3.27%
7.71%
71.99%
69.46%
$633
$1,419
$1.15
24.00
12.95
0.50
$1.35
26.00
13.70
0.52
0.76%
7.78%
81.10%
0.95%
3.38%
10.53%
65.61%
$1,475
$1.41
30.65
16.81
0.53
0.97%
9.03%
88.68%
0.88%
3.49%
10.16%
67.37%
$458
$1.78
29.82
17.56
0.60
(2) The efficiency ratio was calculated by dividing total noninterest expenses by net interest income plus noninterest income, excluding securities losses or gains.
Taxes are not part of this calculation.
(3) We calculate tangible book value per common share as total shareholders’ equity less goodwill, core deposit intangibles and other intangible assets, net of
accumulated amortization at the end of the relevant period, divided by the outstanding number of shares of our common stock at the end of the relevant period.
Tangible book value per common share is a financial measure that is not recognized by, or calculated in accordance with, U.S. generally accepted accounting
principles, or GAAP, and, as we calculate tangible book value per common share, the most directly comparable GAAP financial measure is total shareholders’ equity
per common share. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in our Annual Report on
Form 10-K under the caption “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures.”
12
1,693,162
368,174
261,551
11,534
1.13%
10.37%
87.2%
0.95%
3.69%
10.24%
65.23%
$(301)
$2.26
32.88
19.53
0.70
In 2018, we developed a five-year strategic
management and departmental teams in
plan that kicked off in 2019 and will
order to help us achieve our mission. We
continue through 2023. Our plan consists
made great headway in our first year, and
of ambitious goals developed by executive
as 2019 comes to a close, we’re excited to
m a n a g e m e n t , s e n i o r a n d m i d - l eve l
share what we’ve done to continue growing.
GROWING OUR BRAN D
Last year, we partnered with a local Texas-
• We implemented unique digital media
based advertising agency. Together,
strategies like call tracking, customer
we laid the groundwork for creative
tracking and geofencing to share our
marketing efforts to expand our digital
message with prospective customers
presence and increase Guaranty’s brand
in the right places at the right time.
awareness during the years to come.
Among the 2019 accomplishments:
• We’ve equipped all of our bank locations
with marketing materials, creative assets
• We produced online commercials, as
and guidelines to reinforce and further
well as, digital banners, social media
enhance the messaging developed in our
ads, billboards and more.
video and digital media campaign.
13
I NVESTING IN TEC HN OLOGY
We’ve continued our
investment
in
technology and software that allows new
and existing customers to connect with
us when, where and how they’d like. With
a new digital banking platform, consumers
will be able to open any deposit product
we offer, receive fast decisions on personal
loans and conduct other banking services,
all at their convenience and without having
to travel to a Bank location.
STRENGTHENING OUR ABID I NG CULTUR E
Our commitment to the Guaranty culture,
• We celebrated the graduation of the
values and our local communities remains
inaugural Leadership Development class.
strong; this shines through on a daily basis
in ways such as:
• We continue to share knowledge, tips
and tools at all of our locations through
• We remain committed to continuing the
our weekly Raving Fans meetings.
education of our employees. This year,
we successfully launched our company-
wide online education resource,
Guaranty University.
• We love sharing our culture with our
customers whenever and wherever we
can. Have you “liked” or followed our
mascot Cash on your favorite social
media page?
TEXAS MONTHLY’S BEST
COMPANIES TO WORK FOR
For the 11th year straight, we’re on Texas Monthly’s
list of Best Companies to Work for in Texas.
14
D EPLOYING OUR CAP ITAL STRATEGICA L LY
We continue to make strategic decisions
by 16,000 square feet and will facilitate
with the goal of
increasing
long-
future growth of our Company.
term value for all of our shareholders.
In 2019, capital strategies
included:
• Launching plans to open a second
location in Austin and relocation of our
• R e p u rc h a s i n g c o m m o n s t o c k a t
main bank in Denton from its current
attractive valuations.
temporary space to a well-located
• Finalizing the plans for our new
permanent space.
Technology Center in Mount Pleasant,
• Continuously looking at opportunities to
which increases our operations center
create new partners for Guaranty.
GROWING W ITH A STRATEGY
As the banking industry continues to change,
expectations of our customers. As we move
we are committed to consistently evaluating
into the second year of our plan and look
our products, strategies and efficiencies to
forward to a successful 2020, we will be
ensure we’re always meeting the needs and
guided by our mission:
15
10 YEAR ASSET GROWTH CHA RT A ND DATA
TOTAL ASSETS
(Dollars in thousands)
$2,400,000
$2,200,000
$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
FIVE YEAR GROWTH TRENDS
TOTAL ASSETS (Dollars in millions)
TOTAL LOANS 1 (Dollars in millions)
$1,828
$1,963
$1,683
$2,287 $2,319
$1,246
$1,361
$1,071
$1,661 $1,709
2015 2016 2017 2018 2019
2015 2016 2017 2018 2019
TOTAL DEPOSITS (Dollars in millions)
CORE EARNINGS 2 (Dollars in millions)
$1,577 $1,676
$1,166
$1,871 $1,957
$33.3
$25.4
$27.5
$20.4
$16.6
2015 2016 2017 2018 2019
2015 2016 2017 2018 2019
1 Total loans, including loans held for sale
2 Core earnings defined as a pre-tax, pre-provision net earnings. See “Reconciliation of Core Earnings”
16
ENTERED BRYAN/COLLEGE STATION MARKETENTERED DFW METROPLEX MARKETENTERED AUSTIN AND FORT WORTH MARKETSENTERED GREATER HOUSTON MARKET G UA R A N T Y B A N K & T R U ST
TY ABSTON
Chairman of
the Board & CEO
KIRK LEE
Vice Chairman & Chief
Credit Officer
CHUCK COWELL
Vice Chairman
RICKY BAKER
Principal
KRB Investments LLC
JOSH BRAY
District Manager
Sanitation Solutions
JEFF BROWN
Managing Partner
RoseRock Capital Group
JIM BUNCH
President & CEO
BWI, Inc.
BRAD DRAKE
President
Lamar Fabrication
CHRIS ELLIOTT
President
Elliott Auto Group
CARL JOHNSON JR.
Principal
Baker & Johnson, CPA
BRIAN MASON
Chairman
Look Cinemas
MIKE NOLAN
Principal
Proterra Properties
BILL PRIEFERT
Chairman & CEO
Priefert Manufacturing Inc.
CARL SMITH
President
Heritage Constructors
17
DELIVERY OF ANNUAL REPORT
economic, market, operational, liquidity, credit and interest
This Annual Report is being delivered to shareholders of
rate risks associated with our business; natural disasters and
Guaranty Bancshares, Inc. (the “Company”) in connection
adverse weather, acts of terrorism, cyber-attacks, an outbreak
with the 2020 Annual Meeting of Shareholders and should
of hostilities, a public health outbreak (such as COVID-19) or
be read with the Company’s proxy statement for the meeting
other international or domestic calamities, and other matters
and Annual Report on Form 10-K, copies of which accompany
beyond our control; the composition of our loan portfolio,
this Annual Report and have been filed with the Securities
including deteriorating asset quality and higher loan charge-
and Exchange Commission (“SEC”).
FORWARD-LOOKING STATEMENTS
This Annual Report may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements reflect our
current views with respect to, among other things, future
events and our results of operations, financial condition and
financial performance. These statements are often, but not
always, made through the use of words or phrases such as
“may,” “should,” “could,” “predict,” “potential,” “believe,”
“will likely result,” “expect,” “continue,” “will,” “anticipate,”
“seek,” “estimate,” “intend,” “plan,” “projection,” “would”
and “outlook,” or the negative version of those words or
other comparable words of a future or forward-looking
nature. These forward-looking statements are not historical
facts, and are based on current expectations, estimates and
projections about our industry, management’s beliefs and
certain assumptions made by management, many of which, by
their nature, are inherently uncertain and beyond our control.
Accordingly, we caution you that any such forward-looking
statements are not guarantees of future performance and
are subject to risks, assumptions and uncertainties that are
difficult to predict. Although we believe that the expectations
reflected in these forward-looking statements are reasonable
offs; the laws and regulations applicable to our business; our
ability to achieve organic loan and deposit growth and the
composition of such growth; increased competition in the
financial services industry, nationally, regionally or locally;
our ability to maintain our historical earnings trends; our
ability to raise additional capital to execute our business plan;
acquisitions and integrations of acquired businesses; systems
failures or interruptions involving our information technology
and telecommunications systems or third-party services;
the composition of our management team and our ability
to attract and retain key personnel; the fiscal position of the
U.S. federal government and the soundness of other financial
institutions; and the amount of nonperforming and classified
assets we hold. We can give no assurance that any goal or
plan or expectation set forth in forward-looking statements
can be achieved and readers are cautioned not to place undue
reliance on such statements. The forward-looking statements
are made as of the date of this Annual Report, and we do
not intend, and assume no obligation, to update any forward-
looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events or circumstances, except
as required by applicable law.
INDEPENDENT AUDITORS
TRANSFER AGENT
as of the date made, actual results may prove to be materially
Whitley Penn
Computershare Investor
different from the results expressed or implied by the forward-
8343 Douglas Avenue
Services
looking statements. Such factors include, without limitation,
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the “Risk Factors” referenced in our most recent Annual
Dallas, Texas 75225
Report on Form 10-K and any subsequent Quarterly Reports
on Form 10-Q, other risks and uncertainties listed from time
DIVIDENDS CALENDAR
to time in our reports and documents filed with the SEC,
and the following factors: business and economic conditions
generally and in the financial services industry, nationally
Dividends on Guaranty
Bancshares, Inc. common
stock are payable, if paid,
and within our current and future geographic market areas;
quarterly.
P.O. Box 505000
Louisville, KY 40233
Shareholder Services
800-962-4284
POSITIONING GUARANTY
FOR GROWTH
In March of 2019, we completed the transition
to our new corporate offices in Addison.
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