Guaranty Bancshares, Inc. (NYSE:GNTY) Q3 2022 Earnings Conference Call October 17, 2022 11:00 AM ET
Company Participants
Ty Abston - Chairman & CEO
Cappy Payne - Senior Executive Vice President & CFO
Shalene Jacobson - EVP & Chief Financial Officer of the Bank
Conference Call Participants
Brad Milsaps - Piper Sandler
Matt Olney - Stephens
Michael Rose - Raymond James
Brady Gailey - KBW
Operator
Good morning, and welcome to the Guaranty Bancshares' Third Quarter 2022 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. Welcome to our third quarter call. As reported in our press release, we -- our company did experience strong growth for the quarter, and good financial results. We outlined that we, like everyone, are anticipating a downturn in the economy starting in Q4 and in ‘23. But we do think Texas will remain resilient in this downturn and our company, we think, is also well positioned for any economic downturn we see going forward. We do have several slides to kind of walk through, and then at a high level, we'll kind of detail some of the main areas of the company. Then we'll open it up to Q&A. Cappy?
Cappy Payne
Okay. Thank you, Ty. I'll read some of the highlights of both the balance sheet and the income statement here pretty quickly. Total assets for -- at the end of Q3 were $3.39 billion that's up $109 million or 3% for the quarter and it's up $304 million or 10% year-to-date. Then, diving into a little bit of that on the asset side, total loans were up $144 million at 6.8% for the quarter and that's ex-PPP and warehouse lending. And for the year, there were $439 million increase or 24% year-to-date, and again, ex-PPP and warehouse lending.
We do have a chart in our earnings release, you can tell that $400 million-plus, about $200 million came in -- increase in CRE and about $85 million was an increase in the C&D bucket, construction and development. Those are the bigger drivers of our growth for this year. Each of our four regions are seeing growth this year. And our Central Texas region was leading that growth with about 50 -- almost 50% of the year-to-date growth.