Guaranty Bancshares, Inc. (NYSE:GNTY) Q3 2024 Earnings Conference Call October 21, 2024 11:00 AM ET
Company Participants
Nona Branch – IR
Ty Abston – Chairman and CEO
Shalene Jacobson – EVP and CFO
Conference Call Participants
Michael Rose – Raymond James
Woody Lay – KBW
Matt Olney – Stephens
Nona Branch
Good morning. And welcome to the Guaranty Bancshares Third Quarter 2024 Earnings Call. My name is Nona Branch and I will be your operator for today’s call. I would like to remind everyone that this call is being recorded. After our prepared remarks, there will be a Q&A session. Our hosts for today’s call will be Ty Abston, Chairman and Chief Executive Officer; Shalene Jacobson, Executive Vice President and Chief Financial Officer.
To begin our call, I will now turn it over to our CEO, Ty Abston.
Ty Abston
Thank you, Nona. Good morning everyone, and again welcome to our third quarter earnings call.
Our company did have a good quarter. We did have some extraordinary expenses, related to a couple of properties we have in ORE that we capitalized expenses on those properties. We feel like those will be resolved next few weeks, as we have both those properties under contract. So that will kind of resolve itself, and we’ll recoup some of those expenses.
Our growth is still muted. Our best customers are really being cautious right now, with where things are with rates. And we do think as we get into ’25, we see some rate reductions get past the election, some of the geopolitical things kind of calm down. We’ll see additional growth in our state. Our state still has a very vibrant economy, but we are seeing muted growth again with some of our best customers.
We do have a strong core deposit base, and
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