-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K+JeQ9ojrwCXbW2omoOnjkMGhOWVw1hIRouAEN6tEYXEKfUQkgheP2XeFUbr6pDY rxn327foO/FfRYq956R0qg== 0001046203-04-000002.txt : 20040116 0001046203-04-000002.hdr.sgml : 20040116 20040116150024 ACCESSION NUMBER: 0001046203-04-000002 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040116 ITEM INFORMATION: ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Change in fiscal year FILED AS OF DATE: 20040116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GUARANTY FEDERAL BANCSHARES INC CENTRAL INDEX KEY: 0001046203 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 431792717 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-23325 FILM NUMBER: 04529571 BUSINESS ADDRESS: STREET 1: 1341 WEST BATTLEFIELD CITY: SPRINGFIELD STATE: MO ZIP: 65807 BUSINESS PHONE: 4175204333 MAIL ADDRESS: STREET 1: 1341 WEST BATTLEFIELD CITY: SPRINGFIELD STATE: MO ZIP: 65807 8-K/A 1 mainbody.htm GUARANTY FEDERAL BANCSHARES, INC 8-K/A Guaranty Federal Bancshares, Inc 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



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): January 16, 2004

Guaranty Federal Bancshares, Inc.
(Exact name of registrant as specified in its charter)


Delaware
(State or other jurisdiction of incorporation)

43-1792717
(I.R.S. employer identification number)

0-23325
(Commission file number)

1341 West Battlefield
Springfield, Missouri 65807
(Address of principal executive offices and zip code)


Registrant's telephone number, including area code: (417) 520-4333
Not applicable
(Former name or former address, if changed since last report)















 
     
 

INCLUDED INFORMATION

Item 5. Other Events and Regulation FD

On January 16, 2004, Guaranty Federal Bancshares, Inc. (the "Company") issued a press release announcing that there are 241,194 shares of its common stock remaining to be repurchased to complete the repurchase plan announced on November 22, 2002.

Item 7. Financial Statements and Exhibits

(c) Exhibits

Exhibit Number Description

99.1 Press release, dated January 16, 2004 (furnished with respect to Item 12)

Item 8. Change in Fiscal Year

In conjunction with the Company’s conversion of its subsidiary, Guaranty Bank, from a federal savings bank to a state chartered trust company on June 27, 2003, the Company determined to change its fiscal year to a calendar year period beginning January 1, 2004. To transition from the fiscal year ended June 30, 2003 to the new fiscal year beginning on January 1, 2004, the Company will file a Form 10-K to report the transition period for the six months from July 1, 2003 to December 31, 2003.

Item 12. Results of Operations and Financial Condition

On January 16, 2004, the Company issued a press release announcing its earnings for the second quarter ended December 31, 2003.

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.

Guaranty Federal Bancshares, Inc.

By:
/s/ Don M. Gibson______________
Don M. Gibson
President and Chief Executive Officer

Date: January 16, 2004
 
     
 
 
 EX-99.1 3 ex99-1.htm PRESS RELEASE 1-16-2004 Press Release 1-16-2004

Exhibit 99.1
Contact: Don M. Gibson                    For Immediate Release
417-520-4333
 
GUARANTY FEDERAL BANCSHARES, INC.
ANNOUNCES A 14% INCREASE IN EARNINGS PER SHARE FOR
SIX MONTH ENDED DECEMBER 31, 2003
 

SPRINGFIELD, MO – (January 16, 2004) – Guaranty Federal Bancshares, Inc, (NASDAQ:GFED), the holding company for Guaranty Bank, today announced earnings for the second quarter ended December 31, 2003, were $0.33 per share, ($923,000) up from the $0.31 per share ($868,000) the Company earned during the same quarter in the prior year. This represents a 7% increase in quarterly earnings per share. Earnings for the six month period ending December 31, 2003 were $0.72 per share, ($2,000,000) up from the $0.63 per share, ($1,764,000) the Company earned during the same period in 2002. This represents a 14% increase in earnings per share when compared to the same period in the prior year.

In conjunction with the Company’s conversion of its subsidiary, Guaranty Bank, from a federal savings bank to a state chartered trust company on June 27, 2003, the accounting and tax years of the Company will change to a calendar year period beginning January 1, 2004. To transition from the fiscal year ended June 30, 2003 to the new fiscal year beginning on January 1, 2004, the Company will have a short fiscal year ended December 31, 2003 that will include the six months from July 1, 2003 to December 31, 2003.

The Company announced a plan to repurchase 300,000 shares of common stock on November 22, 2002. To date the Company has repurchased 58,806 shares of common stock under this plan at an average cost of $15.90 per share.

The discussion set forth above may contain forward-looking comments. Such comments are based upon the information currently available to management of the Company and management’s perception thereof as of the date of this release. When used in this release, words such as "anticipates," "estimates," "believes," "expects," and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Such statements are subject to risks and uncertainties. Actual results of the Company’s operations could materially differ from those forward-looking comments. The differences could be caused by a number of factors or combination of factors including, but not limited to: changes in demand for banking services; changes in portfolio composition; changes in management strategy; increased competition from both bank and non-bank companies; changes in the general level of interest rates; the effect of regulatory or government legislative changes; technology changes; fluctuation in inflation; and other factors set forth in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time

Guaranty Federal Bancshares Inc.’s principal subsidiary corporation, Guaranty Bank, offers full banking services, is located in Springfield, Missouri, and has nine branches and 18 ATM locations located in Greene and Christian Counties. In addition Guaranty Bank is a member of the Privileged Status ATM network, which provides its customers surcharge free access to over 60 area ATM’s and over 1,000 ATM’s nationwide.
 
Financial Highlights:
 
 
 
 
 
 
  
Quarter ended
Six Months ended
Operating Data:
 
31-Dec-03
31-Dec-02
31-Dec-03
31-Dec-02
   
 
 
 
 
(Dollar amounts are in thousands, except per share data)
   
 
    
 
    
 
    
 
    
 
  
Total interest income
 
$
4,849
   
5,544
   
9,846
   
11,290
 
Total interest expense
   
2,165
   
2,966
   
4,491
   
6,086
 
Provision for loan losses
   
150
   
105
   
362
   
205
 
   
 
 
 
 
Net interest income after
   
 
    
 
    
 
    
 
  
provision for loan losses
   
2,534
   
2,473
   
4,993
   
4,999
 
Noninterest income
   
858
   
889
   
2,089
   
1,752
 
Noninterest expense
   
1,999
   
2,034
   
3,994
   
4,060
 
   
 
 
 
 
 
    
 
    
 
    
 
    
 
  
Income before income tax
   
1,393
   
1,328
   
3,088
   
2,691
 
Income tax expense
   
470
   
460
   
1,088
   
927
 
   
 
 
 
 
 
    
 
    
 
    
 
    
 
  
Net income
 
$
923
   
868
   
2,000
   
1,764
 
   
 
 
 
 
Net income per share-basic
 
$
0.33
 
$
0.31
 
$
0.72
 
$
0.63
 
   
 
 
 
 
Net income per share-diluted
 
$
0.32
 
$
0.30
 
$
0.69
 
$
0.62
 
   
 
 
 
 
 
    
 
    
 
    
 
    
 
  
Annualized return on average assets
   
0.98
%
 
0.93
%
 
1.06
%
 
0.94
%
Annualized return on average equity
   
9.65
%
 
9.52
%
 
10.56
%
 
9.70
%
Net interest margin
   
3.02
%
 
2.87
%
 
2.99
%
 
2.89
%
 
    
 
    
 
    
 
    
 
  
   
 
    
As of  
    
As of
   
 
  
Financial Condition Data:
   
 
    
31-Dec-03
   
30-Jun-03
   
 
  
         
 
       
 
    
 
    
 
    
 
    
 
  
Cash and cash equivalents
   
 
  
$
22,657
   
19,015
   
 
  
Investments
   
 
    
16,731
   
15,522
   
 
  
Loans, net of allowance for loan losses
   
 
    
332,930
   
336,838
   
 
  
12/31/2003 - $3,086; 6/30/2003 - $2,775
   
 
    
 
    
 
    
 
  
Other assets
   
 
    
15,239
   
18,776
   
 
  
         
 
       
Total Assets
   
 
  
$
387,557
   
390,151
   
 
  
         
 
       
 
    
 
    
 
    
 
    
 
  
Deposits
   
 
  
$
237,131
   
235,677
   
 
  
FHLB advances
   
 
    
108,837
   
114,619
   
 
  
Other liabilities
   
 
    
3,111
   
3,313
   
 
  
         
 
       
Total liabilities
   
 
  
$
349,079
   
353,609
   
 
  
Stockholder's equity
   
 
    
38,478
   
36,542
   
 
  
         
 
       
Total liabilities and stockholder equity
$
387,557
   
390,151
   
 
  
 
 
       
 
    
 
    
 
    
 
    
 
  
Book value per share
   
 
  
$
13.80
   
13.14
   
 
  
         
 
       
 
    
 
    
 
    
 
    
 
  
Non performing assets
   
 
  
$
749
   
513
   
 
  
         
 
       
 
    
 
    
 
    
 
    
 
  



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