Guaranty Bancshares, Inc. signed a definitive agreement to acquire DCB Financial Corporation (Dallas, TX) on January 8, 2015. DCB Financial Corporation (Dallas, TX) has total assets of $119 million, total deposits of $93 million, and total equity of $23 million as of December 31, 2014. DCB Financial's employees will join Guaranty's team. Chuck Cowell, President and Chief Executive Officer of DCB Financial, will serve as Chairman of the Dallas market for Guaranty. The deal is subject to customary closing conditions, including the receipt of required regulatory approvals. The deal has been approved by the Boards of Directors of Guaranty and DCB Financial and is expected to close in the first quarter of 2015. Sandler + O'Neill Partners, L.P. acted as financial advisor while Fenimore, Kay, Harrison & Ford, LLP acted as legal advisor for Guaranty. Norton Rose Fulbright acted as legal advisor while Sheshunoff & Co. Investment Banking provided fairness opinion to DCB Financial.

As of April 9, 2015, all former employees of Preston State Bank joined Guaranty's team. Chuck Cowell, President and Chief Executive Officer of Preston will serves as Chairman of the Dallas market for Guaranty.