Guaranty Bank & Trust

Guaranty Bank & Trust
Private
Founded Mount Pleasant, Texas, January 1913
Headquarters Mount Pleasant, TX, USA
Number of locations
 26[1]
Area served
 Texas
Key people
 Ty Abston, CEO, Chairman of the Board
Kirk Lee, Corporate President
Total assets US$ 1.8 billion (September 2016)[1]
Number of employees
 412[2]
Parent Guaranty Bancshares, Inc.
Website gnty.com

Guaranty Bank & Trust, a subsidiary of Guaranty Bancshares, Inc. founded in 1913, is a Texas-based commercial bank that offers personal and business banking services.[3][4][5][6][7]

Tyson Abston serves as CEO and chairman of both Guaranty Bank & Trust and Guaranty Bancshares.[4][5][7][8][9] Kirk Lee serves as president of both Guaranty Bank & Trust and Guaranty Bancshares.[5][7]

Guaranty Bank & Trust has locations in Bryan, Paris, Texarkana, Sulphur Springs, Bogata, Commerce, Atlanta, Pittsburg, New Boston, and Mount Pleasant, Mount Vernon, Longview, Hallsville, College Station, Royse City, Denton, and North Dallas.[4][10][11] Headquarters are in Mount Pleasant, Texas.

History

The Texas Department of Banking issued a charter to Guaranty State Bank on January 20, 1913.[9][12] The bank’s name changed to Guaranty Bond State Bank in 1927.[9]

In 1979, the bank added trust powers.[9] The following year Guaranty created Guaranty Bancshares Inc., its holding company.[9] In 1981, the bank changed its name to Guaranty Bank.[9]

In 2002, the bank changed its name from Guaranty Bank to Guaranty Bond Bank.[9]

In 2014, the bank changed its name from Guaranty Bond Bank to Guaranty Bank & Trust. The bank was ranked 15th best bank to work for in the United States by American Banker in 2016.[2]

Ownership

From its founding in 1913 until 1998, Guaranty Bank & Trust was a privately held company. Guaranty Bank & Trust's parent company, Guaranty Bancshares, became listed under the symbol “GNTY” on the NASDAQ Exchange.[13][14]

In June 2005, Guaranty Bancshares became a privately held company.[15]

Locations

In April 1994, the first location in Paris, Texas opened.[16] Guaranty Bank & Trust also opened its second Mount Pleasant location in 1996.[13] The bank opened a full-service location in Texarkana in 1997.[13] In April 1999, Guaranty opened a location in Pittsburg, Texas.[17][18]

Guaranty Bank & Trust opened a loan production office in August 2000 in Fort Stockton, Texas.[19] The Fort Stockton location became a full service bank in December of that same year.[19] In March 2004, Guaranty Bank & Trust opened a location in Mount Vernon, Texas.[20][21] In August 2004, the Deport location was closed, with customers transferred to nearby towns’ branches.[19] A second Texarkana location opened in July that same year.[21] In 2008, Guaranty Bank & Trust closed its Talco location. The following year, it opened a location in New Boston, Texas.[21] In 2010, Guaranty Bank & Trust added both a mobile bank and another full service branch in Texarkana.[21]

A location was opened in Atlanta, Texas in May 2011.[21] In April 2013, Guaranty Bank & Trust opened its second Paris, Texas location.[22][23] New locations were added in Longview and College Station in 2013.[24] In June 2014, a location was opened in Bryan, TX.[25] In 2015, a location was added in Royce City, Texas, as part of the acquisition of Texas Leadership Bank.[10] Two more locations were added in the North Dallas area as part of the 2015 acquisition of Preston State Bank.[11]

In May 2016, the bank opened a new location in Denton, Texas before acquiring a second Denton location from Independent Bank in August.[1]

Acquisitions

In 1992, Guaranty Bank & Trust acquired the First National Bank of Deport, with branches in both Deport, Texas and Paris, Texas.[19][26] The company purchased a commercial bank in Bogata, Texas in 1993.[19] Talco State Bank, chartered in 1912, merged with Guaranty Bank & Trust in 1997.[19][27]

In 1999, Guaranty Bank & Trust acquired First American Financial Corporation, with its Sulphur Springs and Commerce, Texas locations, and wholly owned mortgage company.[19] The renamed Guaranty Mortgage Company was folded into the bank in 2000.[19]

In 2011, the Fort Stockton location was sold to West Texas State Bank.[28] First State Bank of Hallsville, Texas merged with Guaranty Bank & Trust in August 2013.[8][29] Guaranty Bancshares acquired DCB Financial in 2015.[30]

In 2015, Guaranty Bank & Trust acquired Preston State Bank, a subsidiary of DCB Financial Corp.[11] Texas Leadership Bank was also acquired and its operations merged into Guaranty Bank & Trust in 2015.[10]

References

  1. 1 2 3 Prior, Jon (August 11, 2016). "Guaranty Bank Buying into Denton Growth". Dallas Business Journal. Retrieved September 22, 2016.
  2. 1 2 "The Best Banks to Work For". American Banker. Retrieved September 22, 2016.
  3. ↑ "Guaranty Bancshares Inc.". New York Times. Retrieved January 8, 2014.
  4. 1 2 3 "Ground Breaking: Chamber welcomes Guaranty Bond Bank's new location". eParis Extra. Retrieved January 8, 2014.
  5. 1 2 3 BOB PALMER (January 21, 2013). "Guaranty Bond celebrates 100 years; looks to a bright future". Mount Pleasant Daily Tribune.
  6. ↑ "Guaranty maintains small-town feeling despite growth". Texarkana Gazette. May 15, 2011.
  7. 1 2 3 "Abston Named Chairman, Lee President, Guaranty Bond Bank, Mount Pleasant, Texas" (PDF). Bankers Digest. Retrieved January 8, 2014.
  8. 1 2 Nicole De Dios (April 22, 2013). "Guaranty Bond Bank to buy fellow Texas bank". SNL Bank M&A Weekly.
  9. 1 2 3 4 5 6 7 Donny Palmer (March 1, 2013). "BANKER TO BANKER: Guaranty Bond Bank celebrates 100th anniversary". 102 (3). Texas Banking.
  10. 1 2 3 Walsh, Field (August 4, 2015). "Guaranty Bank and Trust Completes Acquisition". TXK Today. Retrieved September 24, 2015.
  11. 1 2 3 Walsh, Field (April 7, 2015). "Guaranty Bank & Trust Expands into DFW Market". TXK Today. Retrieved September 24, 2015.
  12. ↑ "BANK HISTORY" (PDF). TEXAS DEPARTMENT OF BANKING. Retrieved January 8, 2014.
  13. 1 2 3 "GUARANTY BANCSHARES INC /TX/". IPO. Retrieved January 8, 2014.
  14. ↑ "GUARANTY BANCSHARES INC /TX/ (GNTY) IPO". Nasdaq. Retrieved January 8, 2014.
  15. ↑ "Guaranty Banchsares going private". Memorial Hospital & Clinic. Retrieved January 8, 2014.
  16. ↑ "BSC Securities will offer brokerage service in bank lobby". Paris News. Retrieved January 8, 2014.
  17. ↑ "SIGNATURE". GUARANTY BANCSHARES, INC. Retrieved January 8, 2014.
  18. ↑ "Guaranty Bank makes two major business moves". Paris News. Retrieved January 8, 2014.
  19. 1 2 3 4 5 6 7 8 "FORM 10-K GUARANTY BANCSHARES, INC.". UNITED STATES SECURITIES AND EXCHANGE COMMISSION. Retrieved January 8, 2014.
  20. ↑ "GUARANTY BANCSHARES, INC. ANNOUNCES GUARANTY BOND BANK EXPANSION WITH OPENING OF MT VERNON, TEXAS LOCATION". News Release. Retrieved January 8, 2014.
  21. 1 2 3 4 5 "Company Information". U.S. Bank Profiles. Retrieved January 8, 2014.
  22. ↑ "Guaranty Bond Bank to celebrate 100 Year Celebration & Grand Opening at second Paris location on the Loop". eParis Extra. Retrieved January 8, 2014.
  23. ↑ "GUARANTY BOND BANK, PARIS, TEXAS". Hayter Engineering, Inc. Retrieved January 8, 2014.
  24. ↑ "Longview, TX Banking Market". Competitive Analysis and Structure Source Instrument for Depository Institutions. Retrieved January 8, 2014.
  25. ↑ "Diebold Advances Guaranty Bank & Trust's Branch Transformation Initiative". Market Watch. 15 July 2014. Retrieved 7 September 2014.
  26. ↑ "The First National Bank of Deport". FDIC. Retrieved January 8, 2014.
  27. ↑ "Talco State Bank". National Information Center. Retrieved January 8, 2014.
  28. ↑ "Guaranty merges with Odessa bank". Fort Stockton Pioneer. Retrieved January 8, 2014.
  29. ↑ "central regional news". 113 (8). Bank News. 1 August 2013.
  30. ↑ "Guaranty Bancshares to merge with DCB Financial". The Paris News. January 11, 2015
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