Profile: Guaranty Federal Bancshares Inc (GFED.OQ)
21 Jul 2016
Guaranty Federal Bancshares, Inc., incorporated on October 15, 1997, is the savings and loan holding company for Guaranty Federal Savings Bank (the Bank). The Company operates through banking operation segment. The banking segment is engaged in the business of originating mortgage loans secured by one- to four-family residences, multi-family, construction, commercial and consumer loans. The Bank's primary market areas are Greene and Christian Counties, which are in the southwestern corner of Missouri, and includes the cities of Springfield, Nixa and Ozark, and Missouri. The Company owns Guaranty Statutory Trust I and Guaranty Statutory Trust II.
The Bank's loan portfolio consists of mortgage loans, including one- to four-family loans, multi-family loans, construction loans and commercial real estate loans; commercial business loans, and consumer loans. The Bank's consumer loans include loans secured by certificates of deposit, automobiles, boats and home equity loans. The Bank's total loans are approximately $492.9 million.
The Bank invests in mortgage-backed securities, the United States Government and federal agency securities, and other marketable securities. The Company's investment securities portfolio consists of available-for-sale securities and held-to-maturity securities. The Company's available-for-sale securities include equity securities; debt securities, such as the United States Government agencies, corporates and municipals, and government sponsored mortgage-backed securities and small business administration (SBA) loan pools. Its held-to-maturity securities include government sponsored mortgage-backed securities. The Company has investment securities with an amortized cost of approximately $98.4 million.
Sources of Funds
The Company's primary sources of funds are retail and commercial deposits, borrowings, amortization and prepayments of loans and amortization, prepayments and maturities of investment securities. The Bank offers a range of deposit accounts having a range of interest rates and terms. The Bank offers various checking accounts, money markets, savings, fixed-term certificates of deposit and individual retirement accounts. The Bank's deposits include negotiable order of withdrawal (NOW) accounts and money market accounts, savings accounts and certificate accounts. The Company's borrowings consist of Federal Home Loan Banks (FHLB) advances, Federal Reserve advances, issuances of junior subordinated debentures and securities sold under agreements to repurchase. The Bank's total deposits are approximately $517.38 million.
Guaranty Federal Bancshares Inc
1341 W Battlefield St
SPRINGFIELD MO 65807-4101