Guaranty Bancorp reports first-quarter loss

DENVER – Guaranty Bancorp reported a first quarter net loss of $1.8
million, primarily due to additional funds set aside for loan losses and
higher expenses related to other real estate owned.

The bank holding company, which operates 11 Guaranty Bank and Trust
branches in Northern Colorado, had a net income of $400,000 in the first
quarter of 2009, but a $1.5 million increase in provision for loan
losses and a $2.7 million increase in noninterest expense largely
related to costs associated with properties taken through foreclosure or
to otherwise satisfy debt led the…