Guaranty Bancshares, Inc. (NYSE:GNTY) Q1 2023 Earnings Conference Call April 17, 2023 11:00 AM ET
Company Participants
Ty Abston - Chairman and Chief Executive Officer
Cappy Payne - Senior Executive Vice President and Chief Financial Officer
Shalene Jacobson - Executive Vice President and Chief Financial Officer of the Bank
Conference Call Participants
Brady Gailey – KBW
Brad Milsaps - Piper Sandler
Matt Olney - Stephens
Michael Rose - Raymond James
Operator
Good morning, and welcome to Guaranty Bancshares First Quarter 2023 Earnings Call. My name is Nona Branch, and I will be your operator for today's call. This call is being recorded.
After the prepared remarks, there will be a Q&A session. Our host for today's call will be Ty Abston, Chairman and Chief Executive Officer of the company; Cappy Payne, Senior Executive Vice President and Chief Financial Officer of the company; Shalene Jacobson, Executive Vice President and Chief Financial Officer of the Bank.
To begin our call, I will now turn it over to our CEO, Ty Abston.
Ty Abston
Thank you, Nona. Good morning, everyone, and welcome to our earnings call for the first quarter 2023. I'm going to make a few comments, and then I'm going to turn it over to Cappy and Shalene to go through our presentation.
We had a solid quarter given the environment that we were in, all of us as banks. This was an unusual environment, one that I truly haven't seen in over 30 years of doing this. There's a uncertainty with our depositors that I didn't even see in 2008 that I think is going to have some consequences that ultimately will require our leaders in Washington to address, and we probably will see those in second half of the year.
We did add a level of deposit granularity and portfolio -- loan portfolio detail to this earnings release that we haven't in the past given the messaging and everything that we're hearing last few weeks, so to give a little more color on our balance sheet and our company. Also, our bond portfolio exposure, we added more detail on that.
And related to credit, we're just not seeing credit deterioration in our markets. Texas, the Texas economy remains very strong and vibrant. Our sense is that our economy in Texas will slow down second half of the year like other economies, but we do think credit issues are probably going to be more related to the geography of the credits, at least in our view.