Guaranty Bancshares, Inc. (NYSE:GNTY) Q4 2023 Earnings Conference Call January 16, 2024 11:00 AM ET
Company Participants
Ty Abston - Chairman & CEO
Shalene Jacobson - EVP & CFO
Cappy Payne - Senior Executive Vice President & CFO
Conference Call Participants
Graham Dick - Piper Sandler
Brady Gailey - KBW
Matt Olney - Stephens
Tim Mitchell - Raymond James
Operator
Good morning. Welcome to Guaranty Bancshares Fourth Quarter 2023 Earnings Call. My name is Nona Branch, and I will be your operator for today's call. I want to remind everyone today's call is being recorded. After today’s prepared remarks, there will be Q&A session. And our host for our call today will be Ty Abston, Chairman and CEO; Shalene Jacobson, Executive Vice President and CFO.
To begin our call, I will turn it over to our CEO, Ty Abston.
Ty Abston
Thank you, Nona. Good morning, everyone. Welcome to our fourth quarter 2023 earnings call. I'm coming to you from a Chili's, Mount Pleasant, which is 15 degrees and Shalene, Cappy are in Addison, where it's warmer at 16 degrees. So just to recap our year for last year, as I've done through the last few quarters, we did have a good year with acceptable results. Our margin is improving. We did see margin compression throughout the year like a lot of banks did. That seems to bottom down after Q2 during the year, and it's been rebuilding.
We anticipate that to continue rebuilding in the year. Our asset quality remains strong. We are seeing one-off stresses on credits. But to date, we've been able to resolve those successfully by the restructuring and/or moving them out of the bank. So at this point, we don't see anything systemic. It's just been one-off stresses on individual credits that will pop up. As you would expect, with a 500 basis point increase in rates we've seen over the last 24 months.
We do continue to see strong and stable economy in Texas, which is encouraging for us. And as we see that going into the year for '24, we plan to have results that are very comparable to '23 with the exception of a building margin. At this point, asset quality, again, remains to be strong, and we don't see anything that's concerning to us, other than just individual credits periodically, which at this point, like I said, we've been able to kind of resolve to satisfactory.