Guaranty Federal Bancshares, Inc. (Nasdaq:GFED), the holding company (the "Company") for Guaranty Bank, today announced that it has priced an underwritten public offering of 1,304,347 shares of its common stock to the public at $11.50 per share. The gross proceeds of the offering are expected to be approximately $15.0 million before underwriting discounts and other estimated offering expenses. The Company expects to close the sale of the shares of common stock on March 7, 2014, subject to customary closing conditions. Raymond James & Associates, Inc. is acting as underwriter and sole book running manager for the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 195,652 shares, representing 15% of the total number of shares to be sold by the Company in the offering, to cover over-allotments, if any.
Guaranty Federal Bancshares is a unitary savings and loan holding company. Through its subsidiary, Guaranty Federal Savings Bank (the Bank), Co. is engaged in accepting retail deposits from the general public and investing those deposits, together with funds generated from operations, in commercial real estate loans, multi-family residential mortgage loans, construction loans, permanent one-to four-family residential mortgage loans, business, consumer and other loans. The Bank also invests in mortgage-backed securities, U.S. Government and federal agency securities and other marketable securities. At Dec 31 2012, Co. had total assets of $660.4 million and total deposits of $500.0 million.
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