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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 14 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net earnings available to common shareholders by the weighted-average common shares outstanding for the period. Net losses attributable to the noncontrolling interest during the quarter and nine months ended September 30, 2022 were $3 and $21, respectively, and are excluded from this calculation. Diluted earnings per share reflects the maximum potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and would then share in the net earnings of the Company. Dilutive share equivalents include stock-based awards issued to employees.

Stock options granted by the Company are treated as potential shares in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money awards which is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax impact that would be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares.

The computations of basic and diluted earnings per share for the Company were as follows for the:

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to Guaranty Bancshares, Inc.

 

$

10,903

 

 

$

9,253

 

 

$

32,425

 

 

$

30,647

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding (basic)

 

 

11,907,233

 

 

 

12,067,769

 

 

 

11,994,105

 

 

 

12,054,426

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock equivalent shares from stock options

 

 

125,158

 

 

 

143,620

 

 

 

125,344

 

 

 

155,058

 

Weighted-average shares outstanding (diluted)

 

 

12,032,391

 

 

 

12,211,389

 

 

 

12,119,449

 

 

 

12,209,484

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to Guaranty Bancshares, Inc. per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.92

 

 

$

0.77

 

 

$

2.70

 

 

$

2.54

 

Diluted

 

$

0.91

 

 

$

0.76

 

 

$

2.68

 

 

$

2.51