Guaranty Federal Bancshares Inc. (GFED) Wednesday reported a loss for the second quarter compared to a profit last year, due mainly to higher loan loss provisions.
The Springfield, Missouri-based company's second-quarter net loss available to common shareholders was $54 thousand or $0.02 per share, compared to a net profit of $508 thousand or $0.19 per share last year.
Net interest income for the quarter edged up to $5.11 million from $5.10 million in the year-ago quarter. Total non-interest income rose to $1.04 million from $715 thousand in the prior-year quarter.
Loan loss provisions for the quarter increased to $2.10 million from $1.0 million last year.
Non-interest expense for the quarter edged down to $3.90 million from $3.92 million in the prior-year quarter.
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