Guaranty Federal Bancshares (GFED) has reported an 11.90 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $1.43 million, or $0.32 a share in the quarter, compared with $1.28 million, or $0.29 a share for the same period last year.

Revenue during the quarter grew 7.41 percent to $6.35 million from $5.91 million in the previous year period. Net interest income for the quarter rose 8.07 percent over the prior year period to $5.60 million. Non-interest income for the quarter rose 10.82 percent over the last year period to $1.23 million.

Guaranty Federal Bancshares has made provision of $0.48 million for loan losses during the quarter, up 26.67 percent from $0.38 million in the same period last year.

Net interest margin contracted 2 basis points to 3.34 percent in the quarter from 3.36 percent in the last year period. Efficiency ratio for the quarter improved to 64.74 percent from 65.35 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

Investments stood at $91.17 million as on Mar. 31, 2017. Shareholders equity was at $71.50 million as on Mar. 31, 2017.

Return on average assets moved up 2 basis points to 0.80 percent in the quarter from 0.78 percent in the last year period. At the same time, return on average equity increased 57 basis points to 8.12 percent in the quarter from 7.55 percent in the last year period.

Nonperforming assets moved up 2.40 percent or $0.27 million to $11.59 million on Mar. 31, 2017 from $11.31 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 1.58 percent in the quarter, down from 2.46 percent in the last year period.

Equity to assets ratio was 9.77 percent for the quarter, down from 10.17 percent for the previous year quarter.