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October 3, 2005
BROWN DEER, WISCONSIN, on October 3, 2005, Guaranty Financial Corp., the holding company of Guaranty Bank, announced that its Board of Directors declared a quarterly dividend of $.50 per share on outstanding Guaranty Financial Corp. stock. This represents an increase of $.38 per share on a quarterly basis. The Board also declared a special dividend of $8.00 per share on outstanding Guaranty Financial Corp. common stock. Both the regular quarterly and special dividends are payable on November 4, 2005 to stockholders of record as of the close of business on October 15, 2005. Guaranty Financial, MHC ("MHC"), which owns a majority of the shares of Guaranty Financial Corp., has waived its right to receive the special dividend. Therefore, the special dividend will only be paid on the outstanding shares held by shareholders other than the MHC. Gerald J. Levy, Executive Chairman of Guaranty Financial Corp. stated: "Despite (i) significant growth in our market capitalization and (ii) two straight $10/per share special dividends the past two years, our regular dividends have remained flat since our MHC conversion in 1993. As a result, our regular dividend lagged the market for similar organizations. By increasing our quarterly dividend to $.50/per share, the Board felt that the Bank's dividends would be more in line with the market." Chairman Levy also noted that the special dividend is in addition to the Bank's regular quarterly dividend and, "is being paid as a result of the Bank's strong capital and earnings. The future payment of special dividends is not contemplated at this time." Levy went on to state that, "After the payment of these dividends, Guaranty Bank's capital ratios will remain significantly above all regulatory requirements to be considered well capitalized." As of June 30, 2005, Guaranty Financial Corp. had, on a consolidated basis, $2 billion in assets, $1.4 billion in deposits and $157 million in stockholders' equity. The stock symbol of Guaranty Financial Corp. is "GFCJ."
