updated 11/30/2010 7:45:30 AM ET 2010-11-30T12:45:30

SPRINGFIELD, Mo., Nov. 29, 2010 (GLOBE NEWSWIRE) -- Mark McFatridge, Executive Vice President and Chief Operating Officer of Guaranty Bank, announced today that Brad Farris has joined Guaranty Bank's Mortgage Center as a Residential Lender. Farris comes to Guaranty Bank from Farris Mortgage, a mortgage company he started in 1993. In his new position with the bank, Farris is responsible for business development and customer service related to the bank's full line of mortgage loan products in southwest Missouri.

"This is a fantastic partnership," says McFatridge. "Guaranty Bank has been assisting customers with home ownership in this area since 1913. We have a great team of people and adding someone of Brad's caliber and experience who has such a passion for the business will continue to set our mortgage services apart."

Farris has been helping people with home ownership in the Ozarks for almost 20 years, and hosts a one-hour "ask the experts" radio talk show every Tuesday afternoon on KWTO AM. The Farris Mortgage Hour, which started in 1997, airs at 2 p.m. and will continue as The Guaranty Bank Mortgage Hour with Brad Farris.

"The Farris family has been a part of this community for over 100 years," said Farris. "My grandfather owned a grocery store here and my father owned a clothing store here. I am proud to join a company like Guaranty Bank that has been serving our local area for nearly a century. It's a great fit. I'm going to tell my friends and customers 'I've joined Guaranty Bank and you should, too!'"

Farris will continue to serve his mortgage customers from his office at 1350 E. Bradford Parkway in Springfield just east of the Cox South campus. The office will operate under the new name of Guaranty Bank Mortgage Center. 

Three other Farris Mortgage employees will also be joining Guaranty Bank's Mortgage Center, including Residential Lender Christina Campbell Winters. Winters has worked for Farris Mortgage for 12 years and has over 15-years of experience as a residential lender. Loan Coordinators Rhonda Austin and Deanna Wilson have over 30 years of combined residential lending experience.

About Guaranty Federal Bancshares, Inc.

Guaranty Federal Bancshares, Inc. (Nasdaq:GFED) has a subsidiary corporation offering full banking services. The principal subsidiary, Guaranty Bank, is headquartered in Springfield, Missouri, and has nine full-service branches in Greene and Christian Counties and Loan Production Offices in Greene, Wright, Webster and Howell Counties. In addition, Guaranty Bank is a member of the TransFund ATM network which provides its customers surcharge free access to over 100 area ATMs and over 1,600 ATMs nationwide. For more information visit the Guaranty Bank website: www.gbankmo.com.

The discussion set forth above may contain forward-looking comments. Such comments are based upon the information currently available to management of the Company and management's perception thereof as of the date of this release. Actual results of the Company's operations could materially differ from those forward-looking comments. The differences could be caused by a number of factors or combination of factors including, but not limited to: changes in demand for banking services; changes in portfolio composition; changes in management strategy; increased competition from both bank and non-bank companies; changes in the general level of interest rates; the effect of regulatory or government legislative changes; technology changes; and fluctuation in inflation.

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