# EDGAR Filing Document

**Accession Number:** 0001058867
**File Stem:** 0000950170-25-097074
**Filing Date:** 2025-7
**Character Count:** 83293
**Document Hash:** de483a892e19bf153eb871a6c0ff0f9e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-097074.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0000950170-25-097074

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 22

**CONFORMED PERIOD OF REPORT**: 20250721

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GUARANTY BANCSHARES INC /TX/
- **CENTRAL INDEX KEY:** 0001058867
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 751656431
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38087
- **FILM NUMBER:** 251135670

**BUSINESS ADDRESS:**
- **STREET 1:** 201 SOUTH JEFFERSON AVENUE
- **CITY:** MOUNT PLEASANT
- **STATE:** TX
- **ZIP:** 75455
- **BUSINESS PHONE:** 9035729881

**MAIL ADDRESS:**
- **STREET 1:** 201 SOUTH JEFFERSON AVENUE
- **CITY:** MOUNT PLEASANT
- **STATE:** TX
- **ZIP:** 75455

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM** 8-K

**CURRENT REPORT**

**PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report:

(Date of earliest event reported)

July 21, 2025

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GUARANTY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| Texas | 001-38087 | 75-1656431 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 16475 Dallas Parkway**,** Suite 600<br>Addison**,** Texas |  | 75001 |
| (Address of Principal Executive Offices) |  | (Zip Code) |

---

**(**888**)** 572-9881

(Registrant's Telephone Number, Including Area Code)

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**Trading symbol** | &nbsp;&nbsp;**Name of each exchange on which registered** |
| &nbsp;&nbsp;Common Stock, par value $1.00 per share  | &nbsp;&nbsp;GNTY | &nbsp;&nbsp;New York Stock Exchange  |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 2.02. Results of Operations and Financial Condition.**

In accordance with Item 2.02 of Form 8-K of the Securities and Exchange Commission (the "SEC"), Guaranty Bancshares, Inc., a Texas corporation (the "Company"), is furnishing to the SEC a press release that the Company issued on July 21, 2025 (the "Press Release") announcing the Company's financial results for the fiscal quarter ended June 30, 2025. A copy of the Press Release is attached as Exhibit 99.1.

In accordance with the General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, which is furnished herewith pursuant to and relate to Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise be subject to the liabilities of Section 18 of the Exchange Act. The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 hereto shall not be incorporated by reference into any filing or other document filed by the Company with the SEC pursuant to the Securities Act of 1933, as amended, the rules and regulations of the SEC thereunder, the Exchange Act, or the rules and regulations of the SEC thereunder, except as shall be expressly set forth by specific reference in such filing or document.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits.**

The following is furnished as an exhibit to this Current Report on Form 8-K:

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description of Exhibit** |
| 99.1 | [<u>Press Release dated July 21, 2025, reporting second quarter 2025 financial results</u>](gnty-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| Dated: | July 21, 2025 |
|  | GUARANTY BANCSHARES, INC. |
| By: | /s/ Tyson T. Abston |
| Name: | Tyson T. Abston |
| Title: | Chairman of the Board and Chief Executive Officer |

---

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## Exhibit 99.1

**Exhibit 99.1**

*Press Release*

*For Immediate Release*

**Guaranty Bancshares, Inc. Reports**

**Second Quarter 2025 Financial Results**

Addison, Texas – July 21, 2025 / Business Wire / – Guaranty Bancshares, Inc. (NYSE: GNTY) (the "Company," "we," "us," or "our"), the parent company of Guaranty Bank & Trust, N.A. (the "Bank"), today reported financial results for the fiscal quarter ended June 30, 2025. The Company's net income available to common shareholders was $10.0 million, or $0.88 per basic share, for the quarter ended June 30, 2025, compared to $8.6 million, or $0.76 per basic share, for the quarter ended March 31, 2025 and $7.4 million, or $0.65 per basic share, for the quarter ended June 30, 2024. Return on average assets and average equity for the second quarter of 2025 were 1.28% and 12.19%, respectively, compared to 1.13% and 10.83%, respectively, for the first quarter of 2025 and 0.95% and 9.91%, respectively, for the second quarter of 2024. The increase in earnings during the second quarter of 2025 compared to the first quarter of 2025 was primarily due to higher net interest income and noninterest income, along with lower noninterest expense. The increase in earnings in the second quarter of 2025 compared to the second quarter of 2024 was primarily due to increases in net interest income and noninterest income in the current quarter compared to the prior year quarter.

"We are pleased with our second quarter results and continue to see good improvements to net income. Earnings were strong at $10.0 million, which increased $2.6 million from the second quarter of 2024, and was driven primarily from the improvement in net interest margin (on a fully taxable equivalent basis) from 3.26% in the prior year second quarter to 3.71% in the second quarter of 2025. Both our core deposits and loan levels are stable and grew slightly during the period. Asset quality remains strong, as nonperforming assets to total assets is only 0.33% at the end of the quarter. Liquidity and capital both remain at high levels," said Ty Abston, the Company's Chairman and Chief Executive Officer.

**QUARTERLY HIGHLIGHTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Strong Earnings and Improving NIM.** Earnings were strong in the second quarter, driven primarily from higher net interest margin. Net interest margin, on a fully taxable equivalent basis, has continued to improve from 3.26% in the second quarter of 2024 to 3.71% in the second quarter of 2025, resulting in higher year-over-year net interest income, before the provision for credit losses, of $3.8 million. The improvements have resulted primarily from a decrease in deposit costs, while loans and available for sale securities have continued to reprice upward.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Good Asset Quality.** Nonperforming assets as a percentage of total assets were 0.33% at June 30, 2025, compared to 0.15% at March 31, 2025 and 0.71% at June 30, 2024. Net charge-offs (annualized) to average loans were 0.05% for the quarter ended June 30, 2025, compared to 0.02% for the quarter ended March 31, 2025, and 0.01% for the quarter ended June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We continue to maintain a granular loan portfolio. As of June 30, 2025, we had 10,850 total active loans with an average loan balance of $193,059. In our commercial real estate ("CRE") portfolio, we had 964 active loans with an average balance of $908,939 and our 1-4 family real estate portfolio had 2,863 loans with an average balance of $215,166.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Granular and Consistent Core Deposit Base.** As of June 30, 2025, we have 91,436 total deposit accounts with an average account balance of $29,622. We have a historically reliable core deposit base, with strong and trusted banking relationships. Total deposits increased by $4.2 million during the second quarter. DDA balances increased $7.9 million, and time deposits increased $1.5 million, while savings and MMDA balances decreased $5.3 million. Excluding public funds and bank-owned accounts, our uninsured deposits as of June 30, 2025 were 27.0% of total deposits.

Interest rates paid on deposits during the quarter continued to decrease, primarily due to repricing of certificates of deposit. Our average cost of interest-bearing deposits decreased seven basis points during the quarter from 2.83% in the prior quarter to 2.76% in the current quarter. Our average cost of total deposits for the second quarter of 2025 decreased six basis points from 1.96% in the prior quarter to 1.90%<sup>†</sup>. As of June 30, 2025, noninterest-bearing deposits represent 31.6% of total deposits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Healthy Capital and Liquidity.** Our capital and liquidity ratios, as well as contingent liquidity sources, remain very healthy. Our liquidity ratio, calculated as cash and cash equivalents and unpledged investments divided by total liabilities, was 18.8% as of June 30, 2025, compared to 13.6% as of June 30, 2024. Our total available contingent liquidity was $1.3 billion, consisting of FHLB, FRB and correspondent bank fed funds and revolving lines of credit. Finally, our total equity to average quarterly assets as of June 30, 2025 was 10.6%. If we had to recognize our entire unrealized losses on both AFS and HTM securities, our total equity to average assets ratio would be 9.9%<sup>†</sup>, which we believe represents a strong capital level under regulatory requirements.

**†** Non-GAAP financial metric. Calculations of this metric and reconciliations to GAAP are included in the schedules accompanying this release.

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**RESULTS OF OPERATIONS**

Net interest income, before the provision for credit losses, in the second quarter of 2025 and 2024 was $27.7 million and $23.9 million, respectively, an increase of $3.8 million, or 15.8%. The increase in net interest income resulted from a decrease in interest expense of $3.3 million, or 19.9%, compared to the prior year quarter, mainly due to $1.2 million in interest expense on FHLB advances during the second quarter of 2024, which we did not have in the current quarter. Our net interest income was further improved by an increase in interest income of $438,000, or 1.1%, from the same quarter in the prior year. The decrease in interest expense resulted primarily from a 100 basis point interest rate reduction by the Federal Reserve in late 2024, while the increase in interest income resulted primarily from higher securities portfolio yields and interest-bearing deposits held at other banks. These increases in interest income were partially offset by lower interest income on loans due to lower outstanding loan balances in the current quarter. Our noninterest-bearing deposits to total deposits were 31.6% and 31.2% as of June 30, 2025 and 2024, respectively.

Net interest margin, on a fully taxable equivalent ("FTE") basis, for the second quarter of 2025 and 2024 was 3.71% and 3.26%, respectively. Net interest margin, on an FTE basis, increased 45 basis points due to a 65 basis point decrease in the cost of interest-bearing liabilities during the second quarter of 2025. The decrease in the average cost of interest-bearing liabilities was due primarily to a decrease in the cost of interest-bearing deposits from 3.32% to 2.76%, a change of 56 basis points, in the second quarter of 2025 compared to the same period in 2024, as well no interest expense for FHLB advances in the current quarter, compared to $1.2 million in interest expense at a rate of 5.39% in the prior year quarter. The weighted average yield on $129.5 million in new loans originated in the second quarter was 7.22%.

Net interest income, before the provision for credit losses, increased $938,000, or 3.5%, from $26.7 million in the first quarter of 2025 to $27.7 million in the second quarter of 2025. The increase in net interest income resulted primarily from a $868,000, or 2.2%, increase in interest income due to a $6.8 million increase in the average balance of loans between periods. This was further improved by a $70,000, or 0.5%, decrease in interest expense due to repricing of certificates of deposit.

Net interest margin, on an FTE basis, increased from 3.70% for the first quarter of 2025 to 3.71% for the second quarter of 2025, an increase of one basis point. The increase in net interest margin, on an FTE basis, was primarily due to a seven basis point decrease in the rate on interest-bearing deposits and the $938,000, or 3.5%, increase in net interest income between periods.

We recorded no provision for credit losses during the second quarter of 2025, compared to a $300,000 reversal made in the first quarter of 2025 and a total reversal of provision for credit losses in 2024 of $2.2 million. Although gross loan balances increased slightly by $33.3 million during the second quarter of 2025, minor reductions were made to certain qualitative factor adjustments already in place primarily due to more stabilized economic outlooks, reduced risk in our real estate portfolio and reduction in overall loan volume during the period, all of which contributed to management's assessment for no provision during the quarter. As of June 30, 2025 and December 31, 2024, our allowance for credit losses as a percentage of total loans was 1.29% and 1.33%, respectively.

Noninterest income increased $961,000, or 20.9%, in the second quarter of 2025 to $5.6 million, compared to $4.6 million for the second quarter of 2024. The increase from the same quarter in 2024 was primarily due to a $1.0 million restitution payment from the settlement of a lawsuit that was filed by a bank that we acquired in 2015, prior to acquisition, and was recorded in other noninterest income. Also during the second quarter, in connection with our proposed merger with Glacier Bancorp, Inc. ("GBCI"), we entered into pay-fixed, receive variable interest rate swaption contracts with an institutional counterparty to mitigate interest rate risk from the time the merger was announced through the closing date. Changes in the fair value of the interest rate swaptions resulted in losses of $547,000, which were also recorded in other noninterest income and partially offset the restitution related income. Other changes to noninterest income from the prior year quarter included a $900,000 ORE valuation allowance during the second quarter of 2024 which was not present in the second quarter of 2025 and an increase on the gain on sale of loans of $112,000, or 49.3% compared to the same quarter in the prior year. Those increases were partially offset by a $261,000, or 12.3%, decrease in merchant and debit card fees in the second quarter of 2025 compared to the second quarter of 2024.

Noninterest income in the second quarter of 2025 increased by $527,000, or 10.5%, from $5.0 million in the first quarter of 2025. The increase was primarily due to an increase in other noninterest income of $587,000, or 94.1%, which resulted from the restitution income and swaption expense noted in the prior paragraph. Net realized gain on sale of mortgage and SBA loans also increased $199,000, or 142.1%, from $140,000 in the first quarter of 2024. These increases were partially offset by a decrease in merchant and debit card fees of $266,000, or 12.5% between periods.

Noninterest expense increased $104,000, or 0.5%, in the second quarter of 2025 to $20.7 million, compared to $20.6 million for the second quarter of 2024. The increase in noninterest expense in the second quarter of 2025 was driven primarily by a $186,000, or 11.3%, increase in software and technology expense and a $169,000, or 5.8%, increase in occupancy expenses compared to the prior year quarter, which consisted of an increase in depreciation and lease expense of $98,000 and $25,000, respectively, driven by completion of our new full service location in Georgetown, Texas and an increase in other building-related expenses of $60,000 from the second quarter of 2024. Additionally, we saw a $72,000, or 36.4%, increase in director and committee fees and a $70,000, or 8.3%, increase in legal and professional fees from the prior year quarter, primarily related to our proposed merger with GBCI. The remaining increases to noninterest expense included an $80,000, or 38.5%, increase in advertising and promotion expense to support brand visibility and strategic growth, and a $65,000, or 0.6%, increase in employee compensation and benefits in the second quarter of 2025 compared to the same quarter of the prior year. These increases were partially offset by a $474,000, or 29.6%, decrease in other noninterest expense, which was mainly

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attributable to $222,000 in ORE expenses during the prior year quarter, as well as $123,000 in losses sustained due to fraudulent check activity during the prior year quarter that were not present during the second quarter of 2025.

Noninterest expense decreased $503,000, or 2.4%, in the second quarter of 2025, from $21.2 million for the quarter ended March 31, 2025. The decrease resulted from a $452,000, or 3.7%, decrease in employee compensation and benefits during the second quarter of 2025 compared to the first quarter of 2025. This decrease was mainly due to bonus-related payroll taxes of $275,000 and an additional bonus accrual of $175,000 during the prior quarter not present in the second quarter of 2025. There was also a $308,000, or 21.4%, decrease in other noninterest expense due to miscellaneous write-offs during the second quarter of 2025. These decreases were partially offset by a $105,000, or 13.0%, increase to legal and professional fees and an $83,000, or 44.4%, increase in director and committee fees, both related to our proposed merger with GBCI. A $99,000, or 52.4%, increase to advertising and promotion expense during the second quarter of 2025 also contributed to the partial offset.

The Company's efficiency ratio in the second quarter of 2025 was 62.32%, compared to 72.34% in the prior year quarter and 66.78% in the first quarter of 2025.

**FINANCIAL CONDITION**

Consolidated assets for the Company totaled $3.14 billion at June 30, 2025, compared to $3.15 billion at March 31, 2025 and $3.08 billion at June 30, 2024.

Gross loans increased by $33.3 million, or 1.6%, during the quarter resulting in a gross loan balance of $2.14 billion at June 30, 2025, compared to $2.11 billion at March 31, 2025. The increase in loans resulted primarily from increases in construction and development, 1-4 family and multifamily segments and were somewhat offset by decreases in the commercial and industrial and farmland segments.

Gross loans decreased $73.6 million, or 3.3%, from $2.21 billion at June 30, 2024. The decrease in gross loans during the 12-month period resulted from tightened credit underwriting standards and loan terms, strategic non-renewal decisions and fewer borrower requests in response to higher interest rates and project costs.

Total deposits increased by $4.2 million, or 0.2%, to $2.71 billion at June 30, 2025, compared to $2.70 billion at March 31, 2025. The increase in deposits during the second quarter of 2025 compared to the first quarter of 2025 was the result of an increase in noninterest-bearing deposits of $9.7 million offset somewhat by a decrease in interest-bearing deposits of $5.6 million. Total deposits increased $82.3 million, or 3.1%, from $2.63 billion at June 30, 2024. The increase in deposits during the past 12 months resulted primarily from an increase in interest-bearing deposits of $47.3 million and an increase in noninterest-bearing deposits of $35.0 million.

Nonperforming assets as a percentage of total loans were 0.48% at June 30, 2025, compared to 0.23% at March 31, 2025 and 0.98% at June 30, 2024. Nonperforming assets as a percentage of total assets were 0.33% at June 30, 2025, compared to 0.15% at March 31, 2025, and 0.71% at June 30, 2024. The Bank's nonperforming assets consist primarily of ORE and nonaccrual loans. The increase in nonperforming assets compared to the prior quarter was due to an increase in nonaccrual loans, primarily from one borrowing relationship, with a balance of $5.4 million, that we expect to be resolved in the third quarter of 2025 with minimal, if any, losses.

Total equity was $331.8 million at June 30, 2025, compared to $325.8 million at March 31, 2025 and $308.6 million at June 30, 2024. The increase in total equity compared to the prior period quarter resulted primarily from net income of $10.0 million and was partially offset by $2.8 million in dividends paid during the second quarter of 2025.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **June 30** | **March 31** | **December 31** | **September 30** | **June 30** |
| **ASSETS** |  |  |  |  |  |
| Cash and due from banks | $40302 | $50080 | $47417 | $50623 | $45016 |
| Federal funds sold | 149200 | 163375 | 94750 | 108350 | 40475 |
| Interest-bearing deposits | 3664 | 4358 | 3797 | 3973 | 4721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 193166 | 217813 | 145964 | 162946 | 90212 |
| Securities available for sale | 367929 | 362647 | 340304 | 277567 | 242662 |
| Securities held to maturity | 280835 | 305153 | 334732 | 341911 | 347992 |
| Loans held for sale | 705 | 150 | 143 | 770 | 871 |
| Loans, net | 2112851 | 2079864 | 2102565 | 2107597 | 2185247 |
| Accrued interest receivable | 11559 | 10764 | 12016 | 10927 | 12397 |
| Premises and equipment, net | 54132 | 55108 | 56010 | 56964 | 57475 |
| Other real estate owned |  |  | 1184 | 15184 | 15184 |
| Cash surrender value of life insurance | 43395 | 43136 | 42883 | 42623 | 42369 |
| Core deposit intangible, net | 819 | 888 | 994 | 1100 | 1206 |
| Goodwill | 32160 | 32160 | 32160 | 32160 | 32160 |
| Other assets | 46604 | 45478 | 46599 | 47356 | 53842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $3144155 | $3153161 | $3115554 | $3097105 | $3081617 |
| **LIABILITIES AND EQUITY** |  |  |  |  |  |
| Deposits |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest-bearing | $855455 | $845723 | $837432 | $839567 | $820430 |
| &nbsp;&nbsp;Interest-bearing | 1853047 | 1858617 | 1854735 | 1829347 | 1805732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 2708502 | 2704340 | 2692167 | 2668914 | 2626162 |
| Securities sold under agreements to repurchase | 30309 | 47702 | 31075 | 31164 | 25173 |
| Accrued interest and other liabilities | 31552 | 33362 | 31320 | 33849 | 32860 |
| Federal Home Loan Bank advances |  |  |  |  | 45000 |
| Subordinated debentures | 41985 | 41951 | 41918 | 43885 | 43852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 2812348 | 2827355 | 2796480 | 2777812 | 2773047 |
| Equity attributable to Guaranty Bancshares, Inc. | 331267 | 325247 | 318498 | 318784 | 308043 |
| Noncontrolling interest | 540 | 559 | 576 | 509 | 527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 331807 | 325806 | 319074 | 319293 | 308570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $3144155 | $3153161 | $3115554 | $3097105 | $3081617 |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(dollars in thousands, except per share data)* | **June 30** | **June 30** | **March 31** | **March 31** | **December 31** | **December 31** | **September 30** | **September 30** | **June 30** | **June 30** |
| **STATEMENTS OF EARNINGS** |  |  |  |  |  |  |  |  |  |  |
| Interest income | $| 41151 | $| 40283 | $| 41262 | $| 40433 | $| 40713 |
| Interest expense |  | 13487 |  | 13557 |  | 15041 |  | 16242 |  | 16833 |
| Net interest income |  | 27664 |  | 26726 |  | 26221 |  | 24191 |  | 23880 |
| Reversal of provision for credit losses |  |  |  | (300) |  | (250) |  | (500) |  | (1200) |
| Net interest income after reversal of provision for credit losses |  | 27664 |  | 27026 |  | 26471 |  | 24691 |  | 25080 |
| Noninterest income |  | 5560 |  | 5033 |  | 5726 |  | 5154 |  | 4599 |
| Noninterest expense |  | 20706 |  | 21209 |  | 19880 |  | 20678 |  | 20602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes |  | 12518 |  | 10850 |  | 12317 |  | 9167 |  | 9077 |
| Income tax provision |  | 2535 |  | 2227 |  | 2309 |  | 1788 |  | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net earnings | $| 9983 | $| 8623 | $| 10008 | $| 7379 | $| 7423 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss attributable to noncontrolling interest |  | 19 |  | 17 |  | 9 |  | 18 |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net earnings attributable to Guaranty Bancshares, Inc. | $ | 10002 | $ | 8640 | $ | 10017 | $ | 7397 | $ | 7435 |
| **PER COMMON SHARE DATA** |  |  |  |  |  |  |  |  |  |  |
| Earnings per common share, basic | $| 0.88 | $| 0.76 | $| 0.88 | $| 0.65 | $| 0.65 |
| Earnings per common share, diluted |  | 0.87 |  | 0.75 |  | 0.87 |  | 0.65 |  | 0.65 |
| Cash dividends per common share |  | 0.25 |  | 0.25 |  | 0.24 |  | 0.24 |  | 0.24 |
| Book value per common share - end of quarter |  | 29.20 |  | 28.64 |  | 27.86 |  | 27.94 |  | 26.98 |
| Tangible book value per common share - end of quarter<sup>(1)</sup> |  | 26.29 |  | 25.73 |  | 24.96 |  | 25.03 |  | 24.06 |
| Common shares outstanding - end of quarter<sup>(2)</sup> |  | 11345511 |  | 11356856 |  | 11431568 |  | 11408908 |  | 11417270 |
| Weighted-average common shares outstanding, basic |  | 11343034 |  | 11404255 |  | 11422063 |  | 11383027 |  | 11483091 |
| Weighted-average common shares outstanding, diluted |  | 11432795 |  | 11487130 |  | 11490834 |  | 11443324 |  | 11525504 |
| **PERFORMANCE RATIOS** |  |  |  |  |  |  |  |  |  |  |
| Return on average assets (annualized) |  | 1.28% |  | 1.13% |  | 1.27% |  | 0.96% |  | 0.95% |
| Return on average equity (annualized) |  | 12.19 |  | 10.83 |  | 12.68 |  | 9.58 |  | 9.91 |
| Net interest margin, fully taxable equivalent (annualized)<sup>(3)</sup> |  | 3.71 |  | 3.70 |  | 3.54 |  | 3.33 |  | 3.26 |
| Efficiency ratio<sup>(4)</sup> |  | 62.32 |  | 66.78 |  | 62.23 |  | 70.47 |  | 72.34 |
| (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. | (1) See Non-GAAP Reconciling Tables. |
| (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. | (2) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options. |
| (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (3) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. |
| (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. | (4) The efficiency ratio was calculated by dividing total noninterest expense by net interest income plus noninterest income, excluding securities gains or losses. Taxes are not part of this calculation. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **June 30** | **March 31** | **December 31** | **September 30** | **June 30** |
| **LOAN PORTFOLIO COMPOSITION** |  |  |  |  |  |
| Commercial and industrial | $210504 | $226819 | $254702 | $245738 | $264058 |
| Real estate: |  |  |  |  |  |
| &nbsp;&nbsp;Construction and development | 249172 | 225051 | 218617 | 213014 | 231053 |
| &nbsp;&nbsp;Commercial real estate | 876112 | 866891 | 866684 | 866112 | 899120 |
| &nbsp;&nbsp;Farmland | 122115 | 139455 | 147191 | 169116 | 180126 |
| &nbsp;&nbsp;1-4 family residential | 544705 | 534991 | 529006 | 524245 | 526650 |
| &nbsp;&nbsp;Multi-family residential | 77134 | 51249 | 51538 | 54158 | 47507 |
| Consumer | 47882 | 50434 | 51394 | 52530 | 53642 |
| Agricultural | 13491 | 12634 | 11726 | 11293 | 12506 |
| Overdrafts | 326 | 637 | 279 | 331 | 335 |
| Total loans<sup>(1)(2)</sup> | $2141441 | $2108161 | $2131137 | $2136537 | $2214997 |
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **June 30** | **March 31** | **December 31** | **September 30** | **June 30** |
| **ALLOWANCE FOR CREDIT LOSSES** |  |  |  |  |  |
| Balance at beginning of period | $27865 | $28290 | $28543 | $29282 | $30560 |
| Loans charged-off | (331) | (145) | (281) | (272) | (115) |
| Recoveries | 52 | 20 | 278 | 33 | 37 |
| Reversal of provision for credit losses |  | (300) | (250) | (500) | (1200) |
| Balance at end of period | $27586 | $27865 | $28290 | $28543 | $29282 |
| Allowance for credit losses / period-end loans | 1.29% | 1.32% | 1.33% | 1.34% | 1.32% |
| Allowance for credit losses / nonperforming loans | 267.6 | 585.9 | 758.6 | 560.2 | 470.4 |
| Net charge-offs / average loans (annualized) | 0.05 | 0.02 | 0.00 | 0.04 | 0.01 |
| **NONPERFORMING ASSETS** |  |  |  |  |  |
| Nonaccrual loans | $10309 | $4756 | $3729 | $5095 | $6225 |
| Other real estate owned |  |  | 1184 | 15184 | 15184 |
| Repossessed assets owned | 33 | 22 | 22 | 154 | 331 |
| Total nonperforming assets | $10342 | $4778 | $4935 | $20433 | $21740 |
| Nonaccrual loans as a percentage of total loans<sup>(1)(2)</sup> | 0.48% | 0.23% | 0.17% | 0.24% | 0.28% |
| Nonperforming assets as a percentage of: |  |  |  |  |  |
| Total loans<sup>(1)(2)</sup> | 0.48% | 0.23% | 0.23% | 0.96% | 0.98% |
| Total assets | 0.33 | 0.15 | 0.16 | 0.66 | 0.71 |
| (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (1) Excludes outstanding balances of loans held for sale of $705,000, $150,000, $143,000, $770,000, and $871,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. |
| (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. | (2) Excludes net deferred loan fees of $1.0 million, $432,000, $282,000, $397,000, and $468,000 as of June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **June 30** | **March 31** | **December 31** | **September 30** | **June 30** |
| **NONINTEREST INCOME** |  |  |  |  |  |
| Service charges | $1073 | $1086 | $1142 | $1165 | $1098 |
| Net realized gain on sale of loans | 339 | 140 | 240 | 252 | 227 |
| Fiduciary and custodial income | 641 | 668 | 661 | 542 | 657 |
| Bank-owned life insurance income | 259 | 254 | 258 | 255 | 250 |
| Merchant and debit card fees | 1861 | 2127 | 1775 | 1817 | 2122 |
| Loan processing fee income | 138 | 110 | 131 | 102 | 136 |
| Mortgage fee income | 38 | 24 | 37 | 46 | 43 |
| Other noninterest income | 1211 | 624 | 1482 | 975 | 66 |
| Total noninterest income | $5560 | $5033 | $5726 | $5154 | $4599 |
| **NONINTEREST EXPENSE** |  |  |  |  |  |
| Employee compensation and benefits | $11788 | $12240 | $11048 | $11586 | $11723 |
| Occupancy expenses | 3093 | 3173 | 3123 | 3026 | 2924 |
| Legal and professional fees | 911 | 806 | 716 | 775 | 841 |
| Software and technology | 1839 | 1777 | 1733 | 1649 | 1653 |
| Amortization | 100 | 140 | 142 | 142 | 142 |
| Director and committee fees | 270 | 187 | 185 | 188 | 198 |
| Advertising and promotions | 288 | 189 | 267 | 239 | 208 |
| ATM and debit card expense | 812 | 761 | 819 | 791 | 785 |
| Telecommunication expense | 123 | 147 | 153 | 178 | 159 |
| FDIC insurance assessment fees | 352 | 351 | 320 | 359 | 365 |
| Other noninterest expense | 1130 | 1438 | 1374 | 1745 | 1604 |
| Total noninterest expense | $20706 | $21209 | $19880 | $20678 | $20602 |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** | **Quarter Ended June 30,** |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **Average<br>Outstanding<br>Balance** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/ Rate** | **Average<br>Outstanding<br>Balance** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/ Rate** |
| **ASSETS** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans<sup>(1)</sup> | $| 2125547 | $| 33782 | 6.37% | $| 2237469 | $| 35009 | 6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities available for sale |  | 371873 |  | 3810 | 4.11 |  | 245309 |  | 2267 | 3.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities held to maturity |  | 296779 |  | 1909 | 2.58 |  | 356922 |  | 2332 | 2.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonmarketable equity securities |  | 17293 |  | 93 | 2.16 |  | 23243 |  | 280 | 4.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in other banks |  | 139576 |  | 1557 | 4.47 |  | 58341 |  | 825 | 5.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets |  | 2951068 |  | 41151 | 5.59 |  | 2921284 |  | 40713 | 5.61 |
| Allowance for credit losses |  | (27743) |  |  |  |  | (30407) |  |  |  |
| Noninterest-earning assets |  | 212229 |  |  |  |  | 240707 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $ | 3135554 |  |  |  | $ | 3131584 |  |  |  |
| **LIABILITIES AND EQUITY** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $| 1854030 | $| 12762 | 2.76% | $| 1795958 | $| 14824 | 3.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances from FHLB and fed funds purchased |  |  |  |  |  |  | 90055 |  | 1207 | 5.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt |  | 41963 |  | 467 | 4.46 |  | 44489 |  | 511 | 4.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase |  | 46436 |  | 258 | 2.23 |  | 44059 |  | 291 | 2.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities |  | 1942429 |  | 13487 | 2.78 |  | 1974561 |  | 16833 | 3.43 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits |  | 835084 |  |  |  |  | 818290 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest and other liabilities |  | 28961 |  |  |  |  | 36931 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities |  | 864045 |  |  |  |  | 855221 |  |  |  |
| Equity |  | 329080 |  |  |  |  | 301802 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $ | 3135554 |  |  |  | $ | 3131584 |  |  |  |
| Net interest rate spread<sup>(2)</sup> |  |  |  |  | 2.81% |  |  |  |  | 2.18% |
| Net interest income |  |  | $ | 27664 |  |  |  | $ | 23880 |  |
| Net interest margin<sup>(3)</sup> |  |  |  |  | 3.76% |  |  |  |  | 3.29% |
| Net interest margin, fully taxable equivalent<sup>(4)</sup> |  |  |  |  | 3.71% |  |  |  |  | 3.26% |
| (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $821,000 and $817,000 for the quarter ended June 30, 2025 and 2024, respectively. |
| (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. |
| (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. |
| (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(dollars in thousands)* | **Average<br>Outstanding<br>Balance** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** | **Average<br>Outstanding<br>Balance** | **Average<br>Outstanding<br>Balance** | **Interest<br>Earned/<br>Interest<br>Paid** | **Interest<br>Earned/<br>Interest<br>Paid** | **Average<br>Yield/<br>Rate** |
| **ASSETS** |  |  |  |  |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans<sup>(1)</sup> | $| 2122184 | $| 67098 | 6.38% | $| 2268323 | $| 70500 | 6.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities available for sale |  | 361695 |  | 7355 | 4.10 |  | 230803 |  | 4118 | 3.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities held to maturity |  | 308571 |  | 3996 | 2.61 |  | 375158 |  | 4865 | 2.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonmarketable equity securities |  | 17219 |  | 210 | 2.46 |  | 23840 |  | 528 | 4.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in other banks |  | 125837 |  | 2775 | 4.45 |  | 52007 |  | 1454 | 5.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets |  | 2935506 |  | 81434 | 5.59 |  | 2950131 |  | 81465 | 5.55 |
| Allowance for credit losses |  | (27913) |  |  |  |  | (30643) |  |  |  |
| Noninterest-earning assets |  | 214680 |  |  |  |  | 235769 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $ | 3122273 |  |  |  | $ | 3155257 |  |  |  |
| **LIABILITIES AND EQUITY** |  |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $| 1850592 | $| 25639 | 2.79% | $| 1792538 | $| 29283 | 3.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances from FHLB and fed funds purchased |  |  |  |  |  |  | 115824 |  | 3127 | 5.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;Line of credit |  | 77 |  | 3 | 7.86 |  | 420 |  | 18 | 8.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt |  | 41946 |  | 909 | 4.37 |  | 45143 |  | 1028 | 4.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase |  | 45072 |  | 493 | 2.21 |  | 42665 |  | 542 | 2.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities |  | 1937687 |  | 27044 | 2.81 |  | 1996590 |  | 33998 | 3.42 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits |  | 828739 |  |  |  |  | 820964 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest and other liabilities |  | 29510 |  |  |  |  | 36201 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities |  | 858249 |  |  |  |  | 857165 |  |  |  |
| Equity |  | 326337 |  |  |  |  | 301502 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $ | 3122273 |  |  |  | $ | 3155257 |  |  |  |
| Net interest rate spread<sup>(2)</sup> |  |  |  |  | 2.78% |  |  |  |  | 2.13% |
| Net interest income |  |  | $ | 54390 |  |  |  | $ | 47467 |  |
| Net interest margin<sup>(3)</sup> |  |  |  |  | 3.74% |  |  |  |  | 3.24% |
| Net interest margin, fully taxable equivalent<sup>(4)</sup> |  |  |  |  | 3.70% |  |  |  |  | 3.21% |
| (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. | (1) Includes average outstanding balances of loans held for sale of $692,000 and $761,000 for the six months ended June 30, 2025 and 2024, respectively. |
| (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. | (2) Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities. |
| (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. | (3) Net interest margin is equal to net interest income divided by average interest-earning assets, annualized. |
| (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. | (4) Net interest margin on a fully taxable equivalent basis is equal to net interest income adjusted for nontaxable income divided by average interest-earning assets, annualized, using a marginal tax rate of 21%. |

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**NON-GAAP RECONCILING TABLES**

**Tangible Book Value per Common Share**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| *(dollars in thousands, except per share data)* | **June 30** | **March 31** | **December 31** | **September 30** | **June 30** |
| Equity attributable to Guaranty Bancshares, Inc. | $331267 | $325247 | $318498 | $318784 | $308043 |
| Adjustments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (32160) | (32160) | (32160) | (32160) | (32160) |
| &nbsp;&nbsp;&nbsp;&nbsp;Core deposit intangible, net | (819) | (888) | (994) | (1100) | (1206) |
| Total tangible common equity attributable to Guaranty Bancshares, Inc. | $298288 | $292199 | $285344 | $285524 | $274677 |
| Common shares outstanding<sup>(1)</sup> | 11345511 | 11356856 | 11431568 | 11408908 | 11417270 |
| Book value per common share | $29.20 | $28.64 | $27.86 | $27.94 | $26.98 |
| Tangible book value per common share<sup>(1)</sup> | 26.29 | 25.73 | 24.96 | 25.03 | 24.06 |

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(1) Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding stock options.

**Net Unrealized Loss on Securities, Tax Effected, as a Percentage of Total Equity**

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| | |
|:---|:---|
| *(dollars in thousands)* | **June 30, 2025** |
| Total equity<sup>(1)</sup> | $331807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: net unrealized loss on HTM securities, tax effected | (21537) |
| Total equity, including net unrealized loss on AFS and HTM securities | $310270 |
| Net unrealized loss on AFS securities, tax effected | 12346 |
| Net unrealized loss on HTM securities, tax effected | 21537 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized loss on AFS and HTM securities, tax effected | $33883 |
| Net unrealized loss on securities as % of total equity<sup>(1)</sup> | 10.2% |
| Total equity before impact of unrealized losses | $344153 |
| Net unrealized loss on securities as % of total equity before impact of unrealized losses | 9.8% |
| Total average assets | $3135554 |
| Total equity to average assets | 10.6% |
| Total equity, adjusted for tax effected net unrealized loss, to average assets | 9.9% |
| (1) Includes the net unrealized loss on AFS securities of $12.3 million, tax effected. |  |

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**Cost of Total Deposits**

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| | | | |
|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| *(dollars in thousands)* | **June 30, 2025** | **March 31, 2025** | **June 30, 2024** |
| Average interest-bearing deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates and other time deposits | $751158 | $755263 | $736394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest-bearing deposits | 1102872 | 1091852 | 1059564 |
| Total average interest-bearing deposits | $1854030 | $1847115 | $1795958 |
| &nbsp;&nbsp;Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 835084 | 822324 | 818290 |
| Total average deposits | $2689114 | $2669439 | $2614248 |
| Total deposit-related interest expense | $12762 | $12877 | $14824 |
| Average cost of interest-bearing deposits | 2.76% | 2.83% | 3.32% |
| Average cost of total deposits | 1.90% | 1.96% | 2.28% |

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**About Non-GAAP Financial Measures**

Certain of the financial measures and ratios we present, including "tangible book value per common share", "net unrealized loss on securities, tax effected, as a percentage of total equity" and "cost of total deposits" are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). We refer to these financial measures and ratios as "non-GAAP financial measures." We consider the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain expenditures or assets that we believe are not indicative of our primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. We believe that management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, analyzing and comparing past, present and future periods.

These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and you should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures we present may differ from non-GAAP financial measures used by our peers or other companies. We compensate for these limitations by providing the equivalent GAAP measures whenever we present the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance.

A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

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**About Guaranty Bancshares, Inc.**

Guaranty Bancshares, Inc. is the parent company for Guaranty Bank & Trust, N.A. Guaranty Bank & Trust has 33 banking locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. As of June 30, 2025, Guaranty Bancshares, Inc. had total assets of $3.1 billion, total loans of $2.1 billion and total deposits of $2.7 billion. Visit <u>www.gnty.com</u> for more information.

**Cautionary Statement Regarding Forward-Looking Information**

This communication contains 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 as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Such factors include, without limitation: risks that the proposed merger transaction involving the Company and GBCI will not close when expected or at all because required regulatory, shareholder or other approvals or conditions to closing are delayed or not received or satisfied on a timely basis or at all; risks that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the Company and GBCI operate; uncertainties regarding the ability of Glacier Bank and Guaranty Bank & Trust, N.A. to promptly and effectively integrate their businesses, including into Glacier Bank's existing division structure; changes in business and operational strategies that may occur between signing and closing; uncertainties regarding the reaction to the transaction of the companies' respective customers, employees, and contractual counterparties; risks relating to the diversion of management time on merger-related issues; the "Risk Factors" referenced in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q; and other risks and uncertainties listed from time to time in our reports and documents filed with the Securities and Exchange Commission. 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 communication, 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.

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| |
|:---|
| **Contact Information:** |
| Shalene Jacobson<br>Executive Vice President and Chief Financial Officer<br>Guaranty Bancshares, Inc.<br>(888) 572-9881 |
| investors@gnty.com |

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## Exhibit 99.2

![Slide 1](gnty-ex99_2s1.jpg)

INVESTOR PRESENTATION NYSE: GNTY 1ST QUARTER 2025

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![Slide 2](gnty-ex99_2s2.jpg)

SAFE HARBOR STATEMENT ABOUT GUARANTY BANCSHARES, INC. Guaranty Bancshares, Inc. is the parent company for Guaranty Bank & Trust, N.A. Guaranty Bank & Trust has 33 banking locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. As of March 31, 2025, Guaranty Bancshares, Inc. had total assets of $3.2 billion, total loans of $2.1 billion and total deposits of $2.7 billion. Visit www.gnty.com for more information. NON-GAAP FINANCIAL MEASURES Guaranty reports its results in accordance with United States generally accepted accounting principles ("GAAP"). However, management believes that certain non-GAAP performance measures used in managing its business may provide meaningful information about underlying trends in its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, Guaranty's reported results prepared in accordance with GAAP. Please see "Reconciliation of Non-GAAP Financial Measures" at the end of this presentation for a reconciliation to the nearest GAAP financial measure.

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![Slide 3](gnty-ex99_2s3.jpg)

SAFE HARBOR STATEMENT This presentation contains 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 as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Such factors include, without limitation, the "Risk Factors" referenced in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and other risks and uncertainties listed from time to time in our reports and documents filed with the Securities and Exchange Commission. 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 presentation, 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.

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![Slide 4](gnty-ex99_2s4.jpg)

QUARTERLY HIGHLIGHTS Ty Abston CEO and Chairman of the Board Shalene Jacobson EVP and Chief Financial Officer

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![Slide 5](gnty-ex99_2s5.jpg)

Q1 2025 – FINANCIAL RESULTS EARNINGS, ROAA AND NIM BALANCE SHEET NONINTEREST INCOME AND EXPENSE Total assets were $3.15 billion at Mar 31, 2025, compared to $3.12 billion at Dec 31, 2024 Total gross loans were $2.11 billion at Mar 31, 2025, compared to $2.13 billion at Dec 31, 2024 Gross loans decreased $23.0 million (1.1%) in 1Q25 Total deposits were $2.70 billion at Mar 31, 2025, compared to $2.69 billion at Dec 31, 2024 Total deposits increased $12.2 million (0.5%) in 1Q25 Total equity was $325.8 million at Mar 31, 2025, compared to $319.1 million at Dec 31, 2024 Paid cash dividend of $0.25/share in 1Q25, compared to $0.24 in each quarter in 2024 Noninterest income decreased by $693,000, or 12.1%, from $5.7 million in 4Q24 to $5.0 million in 1Q25, due to a decrease in other noninterest income of $858,000, or 57.9%. $651,000 of this difference resulted from a gain of $467,000 on the sale of the commercial ORE property in Austin, Texas during 4Q24 and a $184,000 loss on the sale of an ORE property in Fort Worth during 1Q25. Additionally, rental income decreased by $151,000 in 1Q25, also associated with the sale of commercial ORE property in Austin Noninterest expense increased $1.3 million, or 6.7%, from 4Q24 from a $1.2 million, or 10.8%, increase in employee compensation and benefits during 1Q25 compared to 4Q24 Efficiency ratio of 66.78% for 1Q25 compared to 62.23% for 4Q24 and 71.74% for 1Q24 Net earnings of $8.6 million during the quarter, compared to $10.0 million in 4Q24 and $6.7 million in 1Q24 Net earnings per basic share of $0.76 in 1Q25, compared to $0.88 in 4Q24 and $0.58 in 1Q24 ROAA of 1.13% and ROAE of 10.83% in 1Q25, compared to 1.27% and 12.68%, respectively, in 4Q24 Net interest margin (FTE) was 3.70% in 1Q25, compared to 3.54% in 4Q24 and 3.16% in 1Q24 Yield on total earning assets was 5.60% in 1Q25 and 4Q24, and was 5.50% in 1Q24 Average cost of total deposits was 1.96% in 1Q25, compared to 2.11% in 4Q24 and 2.23% in 1Q24\*\* \*\*Non-GAAP financial metrics. Calculations of these metrics and reconciliations to GAAP are included in the Reconciliation of Non-GAAP Financial Measures pages at the end of this presentation.

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![Slide 6](gnty-ex99_2s6.jpg)

ACL Reversal of provision for credit losses of $300,000 in 1Q25 Reversals in provision due to a reduction in gross loan balances and stable credit trends Minimal changes to qualitative factors Allowance for credit losses (ACL) coverage was 1.32% as of Mar 31 2025 and 1.33% as of Dec 31, 2024 LOAN PORTFOLIO & CREDIT QUALITY Gross loans decreased $23.0 million, or 1.1%, in 1Q25 due to lower borrower demand as customers seek greater economic certainty before starting new projects. However, pipeline is improving. Weighted average yield on new loan originations in 1Q25 was 7.45%, compared to 7.36% in 4Q24 Total loan yield was 6.38% in 1Q25, compared to 6.42% in 4Q24 and 6.21% in 1Q24 We have $262.9 million in fully floating loans with a weighted average yield of 7.91% We also have $340.7 million in loans with a weighted average yield of 6.36% that will reprice in the next 12 months. If rates and balances stay flat, those loans will have a weighted average yield of 7.42% in 12 months. We have a granular loan portfolio. As of Mar 31, 2025, we had 10,951 active loans with an average loan balance of $193,135 Nonperforming assets to total assets were 0.15% as of Mar 31, 2025, compared to 0.16% as of Dec 31, 2024 Net charge-offs were $125,000 in 1Q25, compared to $3,000 in 4Q24 and $110,000 in 1Q24 Net charge-offs to average loans were 0.02% in 1Q25, compared to 0.00% in 4Q24 and 0.02% in 1Q24 Nonaccrual loans were $4.8 million as of Mar 31, 2025 and $3.7 million as of Dec 31, 2024, or 0.23% and 0.17% of total loans, respectively Substandard loans at Mar 31, 2025 were $2.7 million, up slightly from $2.4 million at Dec 31, 2024 Q1 2025 – CREDIT & ACL INFO

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![Slide 7](gnty-ex99_2s7.jpg)

DEPOSITS Granular deposits: 91,105 total deposit accounts with an average balance of $29,684 Uninsured deposits, excluding public funds and GNTY-owned accounts, are 26.7% of total deposits Total deposits increased by $12.2 million during 1Q25. Savings and money market account balances increased $19.6 million and DDA account balances increased $11.5 million, while time deposit balances decreased $18.9 million Loan-to-deposit ratio of 78.0% as of Mar 31, 2025 and 79.2% as of Dec 31, 2024 Noninterest-bearing deposits represent 31.3% of total deposits as of Mar 31, 2025, up from 31.1% as of Dec 31, 2024 Q1 2025 – DEPOSITS, LIQUIDITY & CAPITAL LIQUIDITY & INVESTMENTS Liquidity ratio\* was 19.8% at Mar 31, 2025, compared to 10.6% at Mar 31, 2024 Total available contingent liquidity from all sources was $1.3 billion at Mar 31, 2025 Total net unrealized loss on investment securities was $41.7 million, comprised of $14.7 million AFS and $27.0 million HTM. Net of tax, total unrealized loss was $32.9 million, which was 9.8% of total equity before losses\*\* Capital ratios remain strong. Total equity to average assets as of Mar 31, 2025 was 10.5% If we had to recognize our entire unrealized losses on both AFS and HTM securities, the ratio would be 9.8%\*\* During 1Q25, we repurchased 127,537 shares of Company stock at an average price of $40.56 per share CAPITAL \*Calculated as cash and cash equivalents and unpledged securities divided by total liabilities. \*\*Non-GAAP financial metrics. Calculations of these metrics and reconciliations to GAAP are included in the Reconciliation of Non-GAAP Financial Measures pages at the end of this presentation.

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![Slide 8](gnty-ex99_2s8.jpg)

Q & A

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![Slide 9](gnty-ex99_2s9.jpg)

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Net Unrealized Loss on Securities, Tax Effected, as a Percentage of Total Equity (dollars in thousands) March 31, 2025 Total equity(1) $325,806 Less: net unrealized loss on HTM securities, tax effected (21,317) Total equity, including net unrealized loss on AFS and HTM securities $304,489 Net unrealized loss on AFS securities, tax effected 11,614 Net unrealized loss on HTM securities, tax effected 21,317 Net unrealized loss on AFS and HTM securities, tax effected $32,931 Net unrealized loss on securities as % of total equity(1) 10.1% Total equity before impact of unrealized losses $337,420 Net unrealized loss on securities as % of total equity before impact of unrealized losses 9.8% Total average assets $3,108,844 Total equity to average assets 10.5% Total equity, adjusted for tax effected net unrealized loss, to average assets 9.8% (1) Includes the net unrealized loss on AFS securities of $11.6 million, tax effected.

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![Slide 10](gnty-ex99_2s10.jpg)

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Cost of Total Deposits Quarter Ended (dollars in thousands) March 31, 2025 December 31, 2024 March 31, 2024 Total average interest-bearing deposits $1,847,115 $1,855,713 $1,789,119 Adjustments: Noninterest-bearing deposits 822,324 842,655 823,638 Total average deposits $2,669,439 $2,698,368 $2,612,757 Total deposit-related interest expense $12,877 $14,301 $14,459 Average cost of interest-bearing deposits 2.83% 3.07% 3.25% Average cost of total deposits 1.96% 2.11% 2.23%