The story
Guaranty Bank's origins date to 1938, when a charter was issued to the Guaranty Building and Loan in Galveston, Texas which operated as the Guaranty Federal Savings and Loan Association. In 1988, Temple-Inland formed Guaranty by acquiring three financial institutions: Guaranty Federal Savings and Loan Association, Delta Savings Association and First Federal Savings and Loan. It expanded from Texas into California in the 1990s, acquiring Stockton Savings Bank and Hemet Federal Savings & Loan.
In November 2007, Temple-Inland announced that it planned to separate itself into three stand-alone public companies. Shareholders in the original company would eventually receive stock in all three companies depending on the amount owned on the day the company split-up. The three companies were:
Temple-Inland Inc.
Guaranty Financial Group Inc.
Forestar Real Estate Group Inc.
Guaranty Financial Group Inc. became a standalone financial services holding company that operated in various business segments through its primary operating subsidiaries, "Guaranty Bank" and "Guaranty Insurance Services, Inc." Guaranty Bank became a federally chartered savings bank with total assets in excess of $16 billion (consolidated) that conducted consumer and business banking activities through a network of approximately 150 bank branches located in Texas and California that provided commercial banking products and services to various geographic markets throughout the United States. Guaranty Insurance Services, Inc. became an insurance agency that focused on property and casualty insurance with fixed annuities and operated out of 17 offices located in Texas and California, as well as through branches of Guaranty Bank. Also in November
In November 2008, Kenneth R. Dubuque resigned as president and chief executive officer of the company and the bank, positions he had served in beginning in 1998 and continuing through November 18, 2008. John T. Stuart III, a director of the company and the bank, was appointed as interim chief executive officer and interim chairman of the board of the company. Also in November 2008, the company appointed Kevin J. Hanigan, previously a senior executive vice president and chief banking officer of the company and the bank, to fill the role of president and chief operating officer of the company and the bank.
From Wikipedia’s article on Guaranty Bank (Texas), shared under CC BY-SA 4.0.5