Guaranty Federal Bancshares, Inc. (GFED) has reported an 8.67 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $1.54 million, or $0.35 a share in the quarter, compared with $1.42 million, or $0.32 a share for the same period last year.
Revenue during the quarter grew 5.29 percent to $6.41 million from $6.09 million in the previous year period. Net interest income for the quarter rose 2.24 percent over the prior year period to $5.30 million. Non-interest income for the quarter rose 18.56 percent over the last year period to $1.32 million.
Net interest margin contracted 9 basis points to 3.28 percent in the quarter from 3.37 percent in the last year period. Efficiency ratio for the quarter deteriorated to 65.29 percent from 64.40 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.
Investments stood at $96.60 million as on Sep. 30, 2016. Shareholders equity was at $71.08 million as on Sep. 30, 2016.
Return on average assets moved up 2 basis points to 0.90 percent in the quarter from 0.88 percent in the last year period. At the same time, return on average equity decreased 5 basis points to 8.64 percent in the quarter from 8.69 percent in the last year period.
Nonperforming assets stood at $13.95 million as on Sep. 30, 2016. Meanwhile, nonperforming assets to total assets was 2.05 percent in the quarter, down from 2.54 percent in the last year period.
Equity to assets ratio was 10.46 percent for the quarter, up from 10.20 percent for the previous year quarter.
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