Guaranty Bancshares, Inc. (NASDAQ:GNTY) Q3 2020 Earnings Conference Call - Final Transcript

Oct 19, 2020 • 11:00 am ET


Guaranty Bancshares, Inc. (NASDAQ:GNTY) Q3 2020 Earnings Conference Call - Final Transcript


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Good morning. Welcome to the Guaranty Bancshares Third Quarter 2020 Earnings Call. My name is Nana Branch [Phonetic], and I will be acting as your operator for today's call. [Operator Instructions] After their prepared remarks there will be a Q&A session. [Operator Instructions]

Our host for today's call will be Ty Abston, Chairman and Chief Executive Officer of the company; Cappy Payne, Senior Executive Vice President and Chief Financial Officer; Shalene Jacobson, Executive Vice President and Chief Risk Officer.

To begin our call, I will now turn it over to our CEO, Ty Abston.

Ty Abston

Thank you, Nana. I want to welcome everyone to this third quarter earnings call. This is our first earnings call, we've actually formally done. We as all of you know, our company is very transparent and we've enjoyed the individual calls we've done, but we decided with everything going on with COVID in this year, this was probably more efficient format to do our earnings releases and earnings calls we're going forward.

All of you saw our earnings release, we're very proud of the results of the company [Technical Issues] for Q3, and really just the resilience of our customers and what we're seeing in the Texas economy and overall results of the company. And I will turn it over to Cappy let him go through some of the recap of our results -- financial results and then we will have a short little presentation on some of the key factors and some, kind of, key metrics in the bank and then we'll open it up for Q&A. Cappy?

Cappy Payne

Alright. Thank you, Ty. Well, as Ty said and all of you have seen the press release that was released this morning. So what I thought, I would do, and I think all of us will do, is just really hit some highlights of certain sections of it. And then if you have any questions we can talk about more specifics down the road.

So I'll talk a little bit about the balance sheet first and then the income statement. Our balance sheet actually is very evenly comparable to last quarter, our total assets were down $4.5 million or 0.2% not a lot of movement obviously, total assets ended the quarter at $2.7 billion. Obviously, the biggest factor on the balance sheet is loans and deposits, our loans are actually up $1.2 million ended the quarter at $1.96 billion. We did have a pretty large loan $12 million loan facility payoff right before end of the quarter. This was on a property that was sold, so -- and that came out of multi-family category, you will see that in the detail of the loan -- in the loan section.

Our commercial and industrial loans are actually up $9 million, that's going to be reflective of our growth in our warehouse lending plan and that was about our lands, and that was about $11.5 million during the quarter. Our warehouse lending loans ended the quarter at $114 million, we