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WASHINGTON — Bank holding company Guaranty Financial Group Inc. on Monday expressed grave concern over its financial condition and said it is working with federal regulators as they pursue possible buyers or other alternatives.
Austin, Texas-based Guaranty Financial, the parent of Guaranty Bank, said in a regulatory filing that it won’t be able to file its second-quarter financial statements on time and that it remains critically short of capital. The company said it “no longer believes that it will be able to continue as a going concern.”
Guaranty Financial has 160 branches in Texas and California.
The company is not affiliated with Guaranty Bancorp Inc., which is based in Colorado and operates Guaranty Bank and Trust.
