Guaranty Bancshares, Inc. (NASDAQ:GNTY) Q4 2023 Earnings Call Transcript

Shalene Jacobson: Hi, Tim.

Tim Mitchell: Hi. Good morning, everyone. Tim in for Mike. Thanks for taking my questions. I guess just to start, fee income took a small step back quarter. You kind of got to called out, credit card income and mortgage. I was just kind of curious what your outlook is for fee income through ’24. And if you’re baking any sort of kind of recovery in mortgage or anywhere else in that segment?

Ty Abston: All right. Tim, this is Todd. We’re really now — we’re kind of projecting flat from ’23 during ’24, if there’s opportunities to expand certainly mortgage income, we will. But obviously, that’s market dependent. So just given the lack of clarity on that, we projected pretty flat fee income for the year.

Tim Mitchell: Okay. And then just kind of the loan and deposit kind of the competitive dynamics within your markets. Have you guys being, like, what trends are you seeing now? And then on the loan side, like what are you seeing from demand? Are there any markets or kind of verticals that have any trends worth calling out?

Ty Abston: Not really, Tim. I think everything is preset like it’s been in the last few quarters. I mean there’s obviously, economic activity going on. And again, Texas is continuing to be a pretty strong and stable market, but it is definitely muted from prior couple of years, just given the current rate environment. And so projects are getting put on hold or they’re getting restructured either on the front end with more equity just to make them work in today’s rate environment and banks are being very prudent in how they’re looking at new opportunities, as you would expect in the current environment. And again, the strategy from our standpoint is to maintain a strong balance sheet, where we’re positioned, where we can take advantage of an increase in uptick in economic activity as it develops.

Tim Mitchell: Awesome. Those were all the questions. Thanks for the time guys.

Ty Abston: Thanks, Tim.

Shalene Jacobson: Thanks, Tim.

Operator: Thank you for your questions. I would like to remind everyone the recording for this call will be available by 1:00 p.m. today on our Investor Relations page at gnty.com. We thank you for attending and this concludes our call. Have a good day.