Guaranty Bancshares, Inc. (NASDAQ:GNTY) communicated its third quarter earnings results on Monday 19th October 2020 before market open.
Guaranty Bancshares, Inc. communicated quarterly income of $ 0.92 per share, from the net interest income of $ 22.28 million. On adjusted basis, the firm reported income for the quarter of $ 1.09 per share.
The consensus estimate are $ 0.63 income per share from top line of $ 28.34 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.46 or 73.02 percent, where as revenues fell short of analysts estimates by $ 6.06 million or 21.38 percent.
On the other hand, The quarterly earnings increased 41.54 percent compared with the same quarter last year, at the same time revenues grew 10.96 percent versus third quarter of last year.
Ty Abston, the Chairman and Chief Executive Officer, commented, We are pleased with our third quarter results. We have analyzed our loan portfolio and believe our loans are risk rated appropriately and our allowance for credit losses is adequate to absorb potential future loan losses resulting from the pandemic. Temporary payment or interest-only deferrals offered at the onset of the pandemic have declined significantly as borrowers have returned to contractual payment schedules.
