Guaranty Federal Bancshares, Inc. (NASDAQ:GFED) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On January 19, 2018, Guaranty Federal Bancshares, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) with the U.S. Securities and Exchange Commission and issued a press release, attached as Exhibit 99.1 to the Original Form 8-K, to report on the Company’s financial results for the quarter and year ended December 31, 2017. Subsequent to the filing, as a result of the Company’s review and analysis of certain variable rate interest-bearing liabilities and related cost of funding, the Company determined that there was a system processing miscalculation on four of those accounts causing the Company to record additional interest expense for 2017. Revised net income for the quarter and year ended were $418,467 ($.09 per diluted share) and $5,157,664 ($1.16 per diluted share), respectively, down from the $690,052 ($.15 per diluted share) and $5,429,249 ($1.22 per diluted share), respectively, that was previously reported for those periods. A corrected press release reflecting the change is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
GUARANTY FEDERAL BANCSHARES INC ExhibitEX-99.1 2 ex_106690.htm EXHIBIT 99.1 ex_106690.htm Exhibit 99.1 NASDAQ:GFED www.gbankmo.com For Immediate Release Contacts: Shaun A. Burke,…To view the full exhibit click here
About Guaranty Federal Bancshares, Inc. (NASDAQ:GFED)
Guaranty Federal Bancshares, Inc. is the savings and loan holding company for Guaranty Federal Savings Bank (the Bank). The Company operates through banking operation segment. The banking segment is engaged in the business of originating mortgage loans secured by one- to four-family residences, multi-family, construction, commercial and consumer loans. The Bank’s primary market areas are Greene and Christian Counties, which are in the southwestern corner of Missouri, and includes the cities of Springfield, Nixa and Ozark, and Missouri. The Bank’s loan portfolio consists of mortgage loans, including one- to four-family loans, multi-family loans, construction loans and commercial real estate loans; commercial business loans, and consumer loans. The Bank invests in mortgage-backed securities, the United States Government and federal agency securities, and other marketable securities. The Company owns Guaranty Statutory Trust I and Guaranty Statutory Trust II.