-----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, Oo8ni5xkejbMEdH92IcQ7QS+bTlqWcHskTM0BbpJ3qSqgBq+ZoWWgC/8IxS7L5B3 FaQeMojQNv1a+FnRahEUow== 0001046203-04-000050.txt : 20041013 0001046203-04-000050.hdr.sgml : 20041013 20041013164609 ACCESSION NUMBER: 0001046203-04-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040930 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041013 DATE AS OF CHANGE: 20041013 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 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23325 FILM NUMBER: 041077336 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 1 mainbody.htm SEP 2004 8-K EARNINGS Sep 2004 8-k earnings

 
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): October 13, 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)
 
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.):
 
[_] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[_]    Soliciting materials 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))
 
 
 

 
     
 

INCLUDED INFORMATION
 
Item 2.02 Results of Operations and Financial Condition.
 
On October 13, 2004, Guaranty Federal Bancshares, Inc. (the "Company") issued a press release announcing its earnings for the third quarter ended September 30, 2004.
 
Item 7.01 Regulation FD Disclosure.
 
On October 13, 2004, the Company issued a press release announcing that there are 202,575 shares of its common stock remaining to be repurchased to complete the repurchase plan announced on November 22, 2002.
 
Item 9.01 Financial Statements and Exhibits.
 
(c) Exhibits
 
Exhibit Number Description
 
99.1 Press release dated October 13, 2004 (furnished with respect to Item 2.02)
 
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: October 13, 2004
 

 
     
 

 EX-99.1 2 ex99-1.htm EXHIBIT 99.1 EARNINGS RELEASE Exhibit 99.1 earnings release

 
Exhibit 99.1
 
Contact: Don M. Gibson                    For Immediate Release
417-520-4333

GUARANTY FEDERAL BANCSHARES, INC. ANNOUNCES
A 5% INCREASE IN QUARTERLY EARNINGS PER SHARE

SPRINGFIELD, MO - (October 13, 2004) - Guaranty Federal Bancshares, Inc, (NASDAQ:GFED), the holding company for Guaranty Bank:

Third Quarter 2004 Financial Highlights

·   Earnings per share increases 5% over prior year quarter
·   Net interest income increases 15% over prior year quarter
·   Net interest margin increases 10 basis points over prior year quarter to 3.07%
·   Total assets increase $45M, or 12% from December 31, 2003
·   Loans increase $53M, or 16% from December 31, 2003
·   Deposits increase $35M, or 15% from December 31, 2003

Guaranty Federal Bancshares, Inc, (NASDAQ:GFED), the holding company for Guaranty Bank, today announced earnings for the third quarter ended September 30, 2004 were $0.41 per share, ($1,156,000), up from the $0.39 per share ($1,077,000) the Company earned during the same quarter in the prior year. This represents a 5% increase in quarterly earnings per share.

Earnings for the nine months ended September 30, 2004 were $1.12 per share, ($3,141,000), up from the $1.04 per share ($2,892,000) the Company earned during the same period in the prior year. This represents a 7% increase in earnings per share compared to the same period one year ago.

The Company announced a plan to repurchase 300,000 shares of common stock on November 22, 2002. To date the Company has repurchased 97,425 shares of common stock under this plan at an average cost of $17.32 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. has a subsidiary corporation offering full banking services. The principal subsidiary, Guaranty Bank, is located in Springfield, Missouri, and has nine branches and 19 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.
   
Quarter ended
  
Nine Months ended
  
Operating Data:
  
30-Sep-04
 
30-Sep-03
 
30-Sep-04
 
30-Sep-03
 
   
(Dollar amounts are in thousands, except per share data)
  
                   
Total interest income
  
$
5,192
   
4,997
   
14,906
   
15,489
 
Total interest expense
    
2,123
   
2,326
   
6,108
   
7,686
 
Provision for loan losses
    
225
   
212
   
639
   
617
 
Net interest income after
                          
provision for loan losses
    
2,844
   
2,459
   
8,159
   
7,186
 
Noninterest income
    
957
   
1,231
   
2,684
   
3,168
 
Noninterest expense
    
2,043
   
1,995
   
6,166
   
6,115
 
                           
Income before income tax
    
1,758
   
1,695
   
4,677
   
4,239
 
Income tax expense
    
602
   
618
   
1,536
   
1,347
 
 
                          
Net income
  
$
1,156
   
1,077
   
3,141
   
2,892
 
Net income per share-basic
  
$
0.41
   
0.39
   
1.12
   
1.04
 
Net income per share-diluted
  
$
0.40
   
0.38
   
1.08
   
1.02
 
                           
Annualized return on average assets
    
1.10
%
  
1.13
%
  
1.04
%
  
1.02
%
Annualized return on average equity
    
11.48
%
  
11.48
%
  
10.62
%
  
10.41
%
Net interest margin
    
3.07
%
  
2.97
%
  
3.07
%
  
2.90
%
     
                   
         
As of 
    
As of
        
Financial Condition Data:
          
30-Sep-04
   
31-Dec-03
       
                           
Cash and cash equivalents
        
$
12,392
   
22,657
       
Investments
          
16,265
   
16,731
       
Loans, net of allowance for loan losses
          
386,738
   
332,130
       
9/30/2004 - $4,337; 12/31/2003 - $3,886
                         
Other assets
          
16,111
   
15,239
       
Total Assets
        
$
431,506
   
386,757
       
 
          
   
       
Deposits
        
$
272,262
   
237,131
       
FHLB advances
          
115,086
   
108,837
       
Other liabilities
          
4,028
   
2,811
       
Total liabilities
          
391,376
   
348,779
       
Stockholder's equity
          
40,130
   
37,978
       
Total liabilities and stockholder equity
        
$
431,506
   
386,757
       
                           
Book value per share
        
$
14.19
   
13.62
       
                           
Non performing assets
        
$
1,327
   
2,434
       


 

 
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