GBNK Guaranty Bancorp featured news, full reports, and detailed charts
Guaranty Bancorp (GBNK) Wrap Up:
We are a financial holding company and a bank holding company registered under the Bank Holding Company Act of 1956, as amended. Our principal business is to serve as a holding company for our subsidiaries. As of December 31, 2007, those subsidiaries were Centennial Bank of the West and Guaranty Bank and Trust Company, which we sometimes refer to as CBW and Guaranty Bank, respectively. We refer to Centennial Bank of the West and Guaranty Bank herein as the "Banks", and when we say "we", "us", "our" or the "Company", we mean the Company on a consolidated basis with the Banks. When we refer to "Centennial" or to the "holding company", we are referring to the parent company on a standalone basis. On March 3, 2004, we were incorporated in Delaware under the name Centennial C Corp. On July 16, 2004, in an acquisition financed by a group of investors led by John M. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f03%2f0001047469-08-002143.html#FIS_BUSINESS"www.gbnk.com
387 Employees
Guaranty Bancorp (GBNK:NASDAQ)
LAST $1.10 USD
CHANGE TODAY -0.07 -5.98%
VOLUME 154.5K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Guaranty Bancorp (GBNK)
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OPEN
$1.15
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PREVIOUS CLOSE
$1.17
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DAY HIGH
$1.16
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DAY LOW
$0.96
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52 WEEK HIGH
04/6/09 - $2.95
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52 WEEK LOW
11/20/09 - $0.96
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MARKET CAP
57.7M
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AVERAGE VOLUME 3 mo
77.9K
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DILUTED EPS TTM
$-0.46
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SHARES OUTSTANDING
52.4M
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GBNK Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
GBNK Top Compensated Officers
Mr. Daniel M. Quinn
Chief Executive Officer, President, Director,...
Age: 52
Total Annual Compensation: $625.0K
Mr. Paul W. Taylor
Chief Operating & Financial Officer, Principa...
Age: 48
Total Annual Compensation: $357.5K
Mr. James K. Simons
Chief Credit Officer, Executive Vice Presiden...
Age: 52
Total Annual Compensation: $372.0K
Ms. Suzanne Brennan
Executive Vice President of Operations & Syst...
Age: 58
Total Annual Compensation: $275.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Guaranty Bancorp (GBNK)
Guaranty Bancorp expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).
10/26/2009
Guaranty Bancorp expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).
Guaranty Bancorp Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months September 30, 2009
10/23/2009
Guaranty Bancorp reported unaudited consolidated earnings results for the third quarter and nine months September 30, 2009. For the quarter, the company reported net loss of $16.9 million or 33 cents loss per basic and diluted share, compared to a third quarter 2008 net loss of $265.8 million or $5.21 loss per basic and diluted share. Excluding the goodwill impairment charge in the prior year, the net loss is $1.8 million greater than the same quarter in 2008. The primary reasons for this increase in net loss, exclusive of the 2008 goodwill impairment, are a $4.9 million decrease in net interest income primarily due to lower earning assets in 2009 as compared to 2008; a $5.0 million charge in the third quarter 2009 for a valuation allowance related to deferred tax assets; and higher noninterest expense related mostly to higher nonperforming asset-related costs and FDIC insurance assessments. Negative return on average assets was 3.32% compared to 44.96% a year ago. Net interest income was $14.9 million decreased by $1.0 million from the second quarter 2009, and decreased $4.9 million from the third quarter 2008. Interest income was decreased by $6.2 million to $23.5 million, from $29.7 million in the third quarter 2008. Loss before income taxes was $20.1 million compared to $274.1 million a year ago. For the nine months, the company's net loss was $27.3 million or $0.53 loss per basic and diluted share compared to a net loss of $260.6 million or $5.11 loss per basic and diluted share for the same period in 2008. The primary cause for the decrease in net loss in 2009 as compared to 2008 is that there was no goodwill impairment charge in 2009 as compared to the $250.7 million goodwill impairment charge recorded during the third quarter 2008. Negative return on average assets was 1.80% compared to 14.75% a year ago. Book value per common share was $2.60 compared to $2.93 a year ago. Net interest income was declined by $15.4 million to $46.5 million as compared to $61.9 million for the same period in 2008. This decline is mostly attributable to a $9.0 million unfavorable rate variance due to a 95 basis point decrease in net interest margin, primarily attributable to the company being asset sensitive coupled with a greater than 400 basis point cut in the target federal funds rate by the Federal Open Market Committee of the Federal Reserve Board since the beginning of 2008. Total interest income was $73.1 million compared to $93.3 million a year ago. Loss before income taxes was $37.2 million compared to $266.6 million a year ago. Loss before income taxes was $20.1 million compared to $274.1 million a year ago.
Guaranty Bancorp Announces Amendment to Articles of Incorporation
08/12/2009
Guaranty Bancorp announced that on August 11, 2009, the company filed its Second Amended and Restated Certificate of Incorporation and the Certificate of Designations for the Series A Preferred Stock with the Secretary of State of the State of Delaware. The Second Amended and Restated Certificate of Incorporation was approved by the company’s stockholders at the special meeting of stockholders held on June 29, 2009.
GBNK Competitors
| Company | Last | Change | |
| No competitor information is available for GBNK. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | GBNK | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.8x |
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| Price/Book | 0.4x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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GBNK transactions
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Target |
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Bankruptcy
October 8, 2009 |
Outfitter Manufacturing Inc. |
More Recent News About Guaranty Bancorp
More news for GBNK
Guaranty Bancorp Closes $59.1 Million Capital Raise and Appoints New Director
DENVER, Aug. 11, 2009 (GLOBE NEWSWIRE) -- Guaranty Bancorp (Nasdaq:GBNK - News; the "Company") announced that it consummated the previously announced private placement of mandatorily convertible Series A preferred stock. A total of 59,053 shares of Series A preferred stock were issued in this private placement for a total capital raise of $59.1 million. The primary investors include Patriot Financial Partners, L.P., Patriot Financial Partners Parallel, L.P., Relational Investors Mid-Cap Fund I, L.P., Relational Investors Mid-Cap Fund II, L.P. and Castle Creek Capital Partners III, L.P. Additionally, the Company announced that, pursuant to the securities purchase agreement with Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P., Kirk Wycoff has been appointed to serve on its Board of Directors and both the Audit and Corporate Risk Committees of the Company's Board. Mr. Wycoff was also appointed to the Board of Directors of the Company's bank subsidiary, Guaranty Bank and Trust Company. Mr. Wycoff is currently a managing partner of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P., private equity funds headquartered in Philadelphia focused on investing in community banks and thrifts throughout the United States. Mr. Wycoff has more than 25 years of entrepreneurial banking experience. He also currently serves as Chairman of Continental Bank, based in the Philadelphia metropolitan area. From 2005 to 2007, Mr. Wycoff served as President and CEO of Continental Bank. ...Click here to read the whole Article (external link)
GUARANTY BANCORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
Show all filings for GUARANTY BANCORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for GUARANTY BANCORP 3-Aug-2009Regulation FD Disclosure, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informati...Click here to read the whole Article (external link)
GUARANTY BANCORP Files SEC form 10-Q, Quarterly Report
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This MD&A should be read together with our unaudited Condensed Consolidated Financial Statements and unaudited Statistical Information included elsewhere in this Report, Part II, Item 1A of this Report, and Items 1, 1A, 6, 7, 7A and 8 of our 2008 Annual Report on Form 10-K. Also, please see the disclosure in the "Forward-Looking Statements and Factors that Could Affect Future Results" section in this Report for certain other factors that could cause actual results or future events to differ materially from those anticipated in the forward-looking statements included in this Report or from historical performance. Overview Guaranty Bancorp is a bank holding company with its principal business to serve as a holding company to its bank subsidiary. Unless the context requires otherwise, the terms "Company," "us," "we," and "our" refers to Guaranty Bancorp on a consolidated basis. References to the "Bank" refer to Guaranty Bank and Trust Company, our bank subsidiary. On May 6, 2008, the stockholders of the Company approved the proposal to change the name of the holding company from Centennial Bank Holdings, Inc. to Guaranty Bancorp. This name change was effective on May 12, 2008. In May 2009, the Company signed definitive agreements to sell up to $60 million of capital in the form of preferred stock, subject to stockholder and regulatory approvals and customary closing conditions. At a Special Meeting of Stockholders held on June 29, 2009, our stockholders approved: (1) the issuance of up to 60,000 shares of 9% mandatorily convertible preferred stock and (2) our proposed Second Amended and Restated Certificate of Incorporation, which would increase the total authorized number of shares of our common stock from 100,000,000 to 150,000,000 and establish a class of non-voting stock. On July 27, 2009, e...Click here to read the whole Article (external link)
Guaranty Bancorp Announces 2009 Third Quarter Financial Results
* Company completes capital raise of $57.9 million, net of expenses * GAAP equity ratio and tangible equity ratio increase to 9.51% and 8.59%, respectively * Total risk-based capital ratio increases to 13.42% DENVER, Oct. 23, 2009 (GLOBE NEWSWIRE) -- Guaranty Bancorp (Nasdaq:GBNK - News) today reported a third quarter 2009 net loss of $16.9 million, or 33 cents loss per basic and diluted share, compared to a third quarter 2008 net loss of $265.8 million, or $5.21 loss per basic and diluted share. Excluding the goodwill impairment charge in the prior year, the net loss for the third quarter 2009 is $1.8 million greater than the same quarter in 2008. The primary reasons for this increase in net loss, exclusive of the 2008 goodwill impairment, are a $4.9 million decrease in net interest income primarily due to lower earning assets in 2009 as compared to 2008; a $5.0 million charge in the third quarter 2009 for a valuation allowance related to deferred tax assets; and higher noninterest expense related mostly to higher nonperforming asset-related costs and FDIC insurance assessments. These decreases to net income were offset mostly by a $10.8 million reduction in the provision for loan losses in the third quarter 2009 as compared to the same quarter in 2008. Dan Quinn, Guaranty Bancorp President and CEO, stated, "During the third quarter 2009, we significantly increased our capital position with a successful capital raise of $57.9 million, net of expenses, through the issuance of mandatorily converti...Click here to read the whole Article (external link)
Guaranty Bancorp and Guaranty Bank and Trust Company Not Affiliated With Texas-Based Guaranty Financial Group Inc. and Its Bank Subsidiary
DENVER, Aug. 19, 2009 (GLOBE NEWSWIRE) -- Guaranty Bancorp (Nasdaq:GBNK - News) clarified today that it and its bank subsidiary, Guaranty Bank and Trust Company, are not in any way affiliated or connected with the Texas-based Guaranty Financial Group Inc. (NYSE:GFG - News) or its bank subsidiary, Guaranty Bank, which has branches in Texas and California - and not in Colorado. Guaranty Bancorp is a bank holding company headquartered in Colorado that operates 34 branches solely in Colorado through a single bank subsidiary, Guaranty Bank and Trust Company. On August 11, 2009, Guaranty Bancorp announced a capital raise of $59.1 million, which significantly enhanced the capital positions of both the company and the bank. Both Guaranty Bancorp and Guaranty Bank and Trust Company are well above the highest regulatory capital threshold to be considered "well-capitalized". Giving effect to the recently announced capital raise, the total risk-based capital ratios for the company and the bank on a pro-forma basis at June 30, 2009 are 13.79% and 12.82%, respectively. About Guaranty Bancorp Guaranty Bancorp is a bank holding company that operates 34 branches in Colorado through a single bank, Guaranty Bank and...Click here to read the whole Article (external link)
GUARANTY BANCORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securiti
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES On August 11, 2009, the Company entered into joinder agreements with certain investors (the "Additional Investors") pursuant to which the Additional Investors became parties to the Investment Agreement, as amended by the Amendment. Pursuant to the terms of the Investment Agreement and the Company's joinder agreements with each of the Additional Investors, the Company agreed to issue to the Additional Investors an aggregate of 6,153 shares of Series A Preferred Stock, with a stated value of $1,000 per share, for an aggregate purchase price of $6.153 million. The Company had previously agreed to issue an aggregate of 52,900 shares of Series A Preferred Stock to the Initial Investors and other investors that previously entered into joinder agreements with the Company for an aggregate purchase price of $52.9 million. Each share of Series A Preferred Stock will automatically convert into shares of the Company's common stock on the fifth anniversary of the date the Series A Preferred Stock is issued, subject to certain limitations. The Additional Investors may elect to convert their shares of Series A Preferred Stock into shares of the Company's common stock prior to the mandatory conversion of the Series A Preferred Stock following the earlier of the second anniversary of the date the Series A Preferred Stock is issued and the occurrence of certain events resulting in the conversion, exchange or reclassification of the Company's common stock. Each share of Series A Preferred Stock will be convertible into shares of common stock at a conversion price of $1.80 per share, adjustable downward in $0.04 increments to $1.50 per share in the event of certain nonpayments of dividends (whether paid in cash or in kind) on the Series A Preferred Stock. The conversion price of the Series A Preferred Stock is subject to customary anti-dilution adjustments. The shares of Series A Preferred Stock and any securities issuable upon their...Click here to read the whole Article (external link)
Guaranty Bancorp loss widens in Q3
Guaranty Bancorp lost $16.9 million in the third quarter as it continued to struggle with bad loans made in previous years. The Denver company's loss, which amounted to 33 cents per share, technically is less than the $265.8 million it lost in the same quarter of 2008. But the prior year's results included a $250.7 million goodwill impairment charge. Excluding the charge, Guaranty's latest quarterly loss is $1.8 million more than in the same quarter a year earlier. Denver-based Guaranty (NASDAQ: GBNK) is a bank holding company that operates 34 branches in Colorado through a single bank, Guaranty Bank and Trust Co. In a company statement late Friday, among the reasons for the widening loss were: a $4.9 million decline in net interest income, primarily due to lower earning assets; a $5 million charge for a valuation allowance related to deferred tax assets; and higher non-interest expense, related mostly to higher nonperforming asset-related costs and Federal Deposit Insurance Corp. insurance assessments. Those decreases were offset by a $10.8 million drop in the provision for loan losses in the third quarter 2009, compared with the prior year. "The provision for loan losses remained high in the third quarter 2009 due to an increase in nonperforming assets and related charge-offs," President and CEO Dan Quinn said in the statement. "We reduced our other real estate owned by $2.5 million during the quarter and have pending sales contracts for the disposition of another $16 million of other real estate owned at Sept. 30, 2009, as well as several pending transactions with respect to our nonperforming loans that could further reduce our lev...Click here to read the whole Article (external link)
GUARANTY BANCORP Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue25,920 27,402 27,775 30,240 Cost of Revenue6,581 6,910 7,125 7,902 Gross Profit19,339 20,492 20,650 22,338 Operating ExpensesResearch Development - - - - Selling General and Administrative15,850 16,133 13,899 13,565 Non Recurring - - - - Others21,560 20,186 4,087 3,052 Total Operating Expenses - - - - Operating Income or Loss(18,071)(15,827)2,664 5,721 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes(18,071)(15,827)2,664 5,721 Interest Expense1,977 2,005 2,017 2,393 Income Before Tax(20,048)(17,832)647 3,328 Income Tax Expense(3,147)(6,975)211 (495)Minority Interest - - - - Net Income From Continuing Ops(16,901)(10,857)436 3,823 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - ...Click here to read the whole Article (external link)
GUARANTY BANCORP Files SEC form 10-Q, Quarterly Report
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This MD&A should be read together with our unaudited Condensed Consolidated Financial Statements and unaudited Statistical Information included elsewhere in this Report, Part II, Item 1A of this Report, and Items 1, 1A, 6, 7, 7A and 8 of our 2008 Annual Report on Form 10-K. Also, please see the disclosure in the "Forward-Looking Statements and Factors that Could Affect Future Results" section in this Report for certain other factors that could cause actual results or future events to differ materially from those anticipated in the forward-looking statements included in this Report or from historical performance. Overview Guaranty Bancorp is a bank holding company with its principal business to serve as a holding company to its bank subsidiary. Unless the context requires otherwise, the terms "Company," "us," "we," and "our" refers to Guaranty Bancorp on a consolidated basis. References to the "Bank" refer to Guaranty Bank and Trust Company, our bank subsidiary. On May 6, 2008, the stockholders of the Company approved the proposal to change the name of the holding company from Centennial Bank Holdings, Inc. to Guaranty Bancorp. This name change was effective on May 12, 2008. On August 11, 2009, the Company issued 59,053 shares of Series A Convertible Preferred Stock, par value $0.001 per share, at a price of $1,000 per share. The Company received $57.9 million, net of expense, from the issuance of these shares, which significantly increased our capital. As a result of this issuance, the Company contributed $40.0 million of capital into its bank subsidiary. Through our banking subsidiary, we provide banking and other financial services throughout our targeted Colorado markets to consumers and to small and medium-sized businesses, including the owners and employees of those businesses. Thes...Click here to read the whole Article (external link)
GUARANTY BANCORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
Show all filings for GUARANTY BANCORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for GUARANTY BANCORP 26-Oct-2009Regulation FD Disclosure, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informat...Click here to read the whole Article (external link)
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