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Guaranty Bancshares OKs stock buyback plan

Guaranty Bancshares Inc.'s board adopted a stock repurchase program, which allows the company to repurchase up to 500,000 shares of its common stock, or approximately 4% of the outstanding shares.

Guaranty expects to fund any repurchases with cash on hand or future cash flow.

As of May 31, Guaranty had 11,060,956 shares outstanding, and it issued an additional 900,000 shares as a portion of the consideration for its acquisition of Westbound Bank, which closed June 1.

Guaranty Bancshares is the parent company of Mount Pleasant, Texas.-based Guaranty Bank & Trust NA.