190 Carondelet Plaza, Suite 600

St. Louis, MO  63105

Main: 314.480.1500

Fax: 314.480.1505

August 7, 2012

VIA EDGAR

Securities and Exchange Commission

100 F. Street, NE

Washington, DC 20549

Re: Guaranty Federal Bancshares, Inc. (the “Company”)

Amendment No. 2 to Registration Statement on Form S-1

Filed:  August 3, 2012

File No.:  333-183062

Ladies and Gentlemen:

On behalf of the Company we hereby forward for filing, via EDGAR, Amendment No. 2 to the Registration Statement on Form S-1 relating to the sale by the United States Department of the Treasury of up to 12,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A, $0.01 par value per share.

Please direct any and all comments or questions with respect to this filing to me at (314) 345-6407.

Sincerely,

/s/ Craig A. Adoor                               

Craig A. Adoor

CAA