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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 22 - 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 years ended December 31, 2023 and 2022 were $28 and $24, 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 (in thousands except per share amounts) as of December 31:

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Net earnings attributable to Guaranty Bancshares, Inc.

 

$

30,037

 

 

$

40,447

 

 

$

39,806

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding (basic)

 

 

11,693,761

 

 

 

11,980,209

 

 

 

12,065,182

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Common stock equivalent shares from stock options

 

 

44,844

 

 

 

112,638

 

 

 

146,576

 

Weighted-average shares outstanding (diluted)

 

 

11,738,605

 

 

 

12,092,847

 

 

 

12,211,758

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to Guaranty Bancshares, Inc. per share

 

 

 

 

 

 

 

 

 

Basic

 

$

2.57

 

 

$

3.38

 

 

$

3.30

 

Diluted

 

$

2.56

 

 

$

3.34

 

 

$

3.26