Guaranty Financial Group Inc. - FORM 8-K - EX-99.4

Guaranty Financial Group Inc. - FORM 8-K - EX-99.4 - October 20, 2010

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8-K - FORM 8-K - Guaranty Financial Group Inc.	d77018e8vk.htm
EX-99.2 - EX-99.2 - Guaranty Financial Group Inc.	d77018exv99w2.htm
EX-99.3 - EX-99.3 - Guaranty Financial Group Inc.	d77018exv99w3.htm
EX-99.1 - EX-99.1 - Guaranty Financial Group Inc.	d77018exv99w1.htm

Exhibit 99.4

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	CASE NAME: Guaranty Group Capital Inc.					ACCRUAL BASIS



	CASE NUMBER: 09-35586



	JUDGE: Judge Houser

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DALLAS DIVISION

MONTHLY OPERATING REPORT

MONTH ENDING: September 30, 2010

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS — 1 THROUGH ACCRUAL BASIS — 7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.


RESPONSIBLE PARTY:

/s/ Dennis S. Faulkner		Chief Restructuring Officer

Original Signature of Responsible Party		Title

Dennis S. Faulkner		10/18/10

Printed Name of Responsible Party		Date

PREPARER:

/s/ Jason A. Rae		Accountant

Original Signature of Preparer		Title

Jason A. Rae		10/15/10

Printed Name of Preparer		Date

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	CASE NAME: Guaranty Group Capital Inc.					ACCRUAL BASIS - 1



	CASE NUMBER: 09-35586

COMPARATIVE BALANCE SHEET

(SEE GENERAL FOOTNOTE)

SCHEDULED

MONTH

ASSETS

AMOUNT

Jul-10

Aug-10

Sep-10

1. Unrestricted Cash

4,170,395

4,172,499

4,172,818

4,173,127

2. Restricted Cash

3. Total Cash

4,170,395

4,172,499

4,172,818

4,173,127

4. Accounts Receivable (Net)

5. Inventory

6. Notes Receivable

7. Prepaid Expenses

8. Other (Attach List)

9. Total Current Assets

4,170,395

4,172,499

4,172,818

4,173,127

10. Property, Plant & Equipment

11. Less: Accumulated Depreciation/Depletion

12. Net Property, Plant & Equipment

13. Due From Insiders

14. Other Assets — Net of Amortization (Attach List)

15. Other (Attach List)

16. Total Assets

4,170,395

4,172,499

4,172,818

4,173,127

POST PETITION LIABILITIES

17. Accounts Payable

18. Taxes Payable

19. Notes Payable

20. Professional Fees

21. Secured Debt

22. Other (Attach List)

23. Total Post Petition Liabilities

PRE PETITION LIABILITIES

24. Secured Debt

25. Priority Debt

26. Unsecured Debt

27. Other (Attach List)

28. Total Pre Petition Liabilities

29. Total Liabilities

EQUITY

30. Pre Petition Owners’ Equity

4,170,395

31. Post Petition Cumulative Profit Or (Loss)

2,104

2,423

2,732

32. Direct Charges To Equity

33. Total Equity

4,172,499

4,172,818

4,173,127

34. Total Liabilities and Equity

4,172,499

4,172,818

4,173,127

This form _X__ does ___ does not have related footnotes on Footnotes Supplement.

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COMPARATIVE BALANCE SHEET

(SEE GENERAL FOOTNOTE)

SCHEDULED

MONTH

ASSETS

AMOUNT

Jul-10

Aug-10

Sep-10

TOTAL OTHER ASSETS — LINE 8

TOTAL OTHER ASSETS NET OF AMORTIZATION — LINE 14

TOTAL OTHER ASSETS — LINE 15

POST PETITION LIABILITIES

TOTAL OTHER POST PETITION LIABILITIES — LINE 22

PRE PETITION LIABILITIES

TOTAL OTHER PRE PETITION LIABILITIES — LINE 27

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INCOME STATEMENT

(SEE GENERAL FOOTNOTE)

MONTH

QUARTER

REVENUES

Jul-10

Aug-10

Sep-10

TOTAL

1. Gross Revenues

2. Less: Returns & Discounts

3. Net Revenue

COST OF GOODS SOLD

4. Material

5. Direct Labor

6. Direct Overhead

7. Total Cost Of Goods Sold

8. Gross Profit

OPERATING EXPENSES

9. Officer / Insider Compensation

10. Selling & Marketing

11. General & Administrative

12. Rent & Lease

13. Other (Attach List)

14. Total Operating Expenses

15. Income Before Non-Operating Income & Expense

OTHER INCOME & EXPENSES

16. Non-Operating Income (Att List)

319

309

947

17. Non-Operating Expense (Att List)

18. Interest Expense

19. Depreciation / Depletion

20. Amortization

21. Other (Attach List)

22. Net Other Income & Expenses

319

309

947

REORGANIZATION EXPENSES

23. Professional Fees

24. U.S. Trustee Fees

325

25. Other (Attach List)

26. Total Reorganization Expenses

325

27. Income Tax

28. Net Profit (Loss)

)

319

309

622

This form ____ does _X__ does not have related footnotes on Footnotes Supplement.

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INCOME STATEMENT

MONTH

QUARTER

OPERATING EXPENSES

Jul-10

Aug-10

Sep-10

TOTAL

TOTAL OTHER OPERATING EXPENSES — LINE 13


OTHER INCOME & EXPENSES
A. Interest Income	319	319	309	947
B.
C.
D.

TOTAL NON-OPERATING INCOME — LINE 16	319	319	309	947

A.
B.
C.
D.

TOTAL NON-OPERATING EXPENSE — LINE 17

REORGANIZATION EXPENSES

TOTAL OTHER REORGANIZATION EXPENSES — LINE 25

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CASE NAME: Guaranty Group Capital Inc.		ACCRUAL BASIS — 3

CASE NUMBER: 09-35586


CASH RECEIPTS AND	MONTH			MONTH		MONTH		QUARTER
DISBURSEMENTS	Jul-10			Aug-10		Sep-10		TOTAL

1. Cash — Beginning Of Month		4,172,505			4,172,499		4,172,818		4,172,505
RECEIPTS FROM OPERATIONS
2. Cash Sales
COLLECTION OF ACCOUNTS RECEIVABLE
3. Pre Petition
4. Post Petition
5. Total Operating Receipts
NON-OPERATING RECEIPTS
6. Loans & Advances (Attach List)
7. Sale of Assets
8. Other (Attach List)		319			319		309		947
9. Total Non-Operating Receipts		319			319		309		947

10. Total Receipts		319			319		309		947

11. Total Cash Available		4,172,824			4,172,818		4,173,127		4,173,452

OPERATING DISBURSEMENTS
12. Net Payroll
13. Payroll Taxes Paid
14. Sales, Use & Other Taxes Paid
15. Secured / Rental / Leases
16. Utilities
17. Insurance
18. Inventory Purchases
19. Vehicle Expenses
20. Travel
21. Entertainment
22. Repairs & Maintenance
23. Supplies
24. Advertising
25. Other (Attach List)

26. Total Operating Disbursements

REORGANIZATION DISBURSEMENTS
27. Professional Fees
28. U.S. Trustee Fees		325							325
29. Other (Attach List)

30. Total Reorganization Expenses		325							325

31. Total Disbursements		325							325

32. Net Cash Flow		(6	)		319		309		622
33. Cash — End of Month		4,172,499			4,172,818		4,173,127		4,173,127

This form ___ does _X__ does not have related footnotes on Footnotes Supplement.

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CASH RECEIPTS AND

DISBURSEMENTS

MONTH

QUARTER

NON-OPERATING RECEIPTS

Jul-10

Aug-10

Sep-10

TOTAL

TOTAL LOANS & ADVANCES — LINE 6

A. Interest

319

309

947

TOTAL OTHER NON-OPERATING RECEIPTS — LINE 8

319

309

947

OPERATING DISBURSEMENTS

TOTAL OTHER OPERATING DISBURSEMENTS — LINE 25

REORGANIZATION DISBURSEMENTS

TOTAL OTHER REORGANIZATION DISBURSEMENTS — LINE 29

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SCHEDULED

MONTH

ACCOUNTS RECEIVABLE AGING

AMOUNT

Jul-10

Aug-10

Sep-10

1. 0 - 30

2. 31 - 60

3. 61 - 90

4. 91 +

5. Total Accounts Receivable

6. (Amount Considered Uncollectible)

7. Accounts Receivable (Net)


		MONTH: September-10

AGING OF POST PETITION TAXES AND PAYABLES

0 - 30

31 - 60

61 - 90

91 +

TAXES PAYABLE

DAYS

TOTAL

1. Federal

2. State

3. Local

4. Other (Attach List)

5. Total Taxes Payable

6. Accounts Payable


		MONTH: September-10


STATUS OF POST PETITION TAXES
	BEGINNING TAX	AMOUNT WITHHELD		ENDING TAX
FEDERAL	LIABILITY *	AND/OR ACCRUED	(AMOUNT PAID)	LIABILITY

1. Withholding **
2. FICA — Employee **
3. FICA — Employer **
4. Unemployment
5. Other — Misc Adj
6. Other- Earned Income Credit

7. Total Federal Taxes	—	—	—	—

STATE AND LOCAL

8. Withholding
9. Sales
10. Excise
11. Unemployment
12. Real Property
13. Personal Property

14. Other (Attach List)	—

15. Total State And Local	—

16. Total Taxes	—


*		The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.

**		Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment of deposit.

This form ___ does _X__ does not have related footnotes on Footnotes Supplement.

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The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

MONTH: September-10

BANK RECONCILIATIONS

Account # 1

Account # 2

Account # 3

Other Accounts

A. BANK:

Bank of America

(Attach List)

B. ACCOUNT NUMBER:

4429005310

TOTAL

C. PURPOSE (TYPE):

Money Market

1. Balance Per Bank Statement

4,173,127

2. Add: Total Deposits Not Credited

3. Subtract: Outstanding Checks

4. Other Reconciling Items

5. Month End Balance Per Books

4,173,127

—

4,173,127

6. Number of Last Check Written

N/A

INVESTMENT ACCOUNTS

DATE OF

PURCHASE

CURRENT

BANK, ACCOUNT NAME & NUMBER

PURCHASE

TYPE OF INSTRUMENT

PRICE

VALUE

10. (Attach List)

11. Total Investments


CASH

12. Currency On Hand

13. Total Cash — End of Month							4,173,127

This form ___ does _X__ does not have related footnotes on Footnotes Supplement.

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PAYMENTS TO INSIDERS AND PROFESSIONALS

Of the Total Disbursements shown for the month, list the amount paid to Insiders (as defined in Section 101 (31) (A) — (F) of the U.S. Bankruptcy Code) and to Professionals. Also, for payments to Insiders, identify the type of compensation paid (e.g. salary, bonus, commissions, insurance, housing allowance, travel, car allowance, etc.). Attach additional sheets if necessary.

INSIDERS


	TYPE OF		TOTAL PAID
NAME	PAYMENT	AMOUNT PAID	TO DATE

1.
2.
3.
4.
5.
6.
7.
8. (Attach List)

9. Total Payments To Insiders

PROFESSIONALS

DATE OF COURT

ORDER

TOTAL

AUTHORIZING

AMOUNT

TOTAL PAID

INCURRED

NAME

PAYMENT

APPROVED

PAID

TO DATE

& UNPAID *

5. (Attach List)

6. Total Payments To Professionals


*		Include all fees incurred, both approved and unapproved

POST PETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

SCHEDULED

AMOUNTS

MONTHLY

PAID

TOTAL

PAYMENTS

DURING

UNPAID POST

NAME OF CREDITOR

DUE

MONTH

PETITION

—

5. (Attach List)

6. TOTAL

—

This form __ does _X__ does not have related footnotes on Footnotes Supplement.

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CASE NAME:	Guaranty Group Capital Inc.	ACCRUAL BASIS — 7

CASE NUMBER:	09-35586	MONTH: September-10


QUESTIONNAIRE
	YES	NO
1. Have any Assets been sold or transferred outside the normal course of business this reporting period?			X
2. Have any funds been disbursed from any account other than a debtor in possession account?			X
3. Are any Post Petition Receivables (accounts, notes, or loans) due from related parties?			X
4. Have any payments been made on Pre Petition Liabilities this reporting period?			X
5. Have any Post Petition Loans been received by the debtor from any party?			X
6. Are any Post Petition Payroll Taxes past due?			X
7. Are any Post Petition State or Federal Income Taxes past due?			X
8. Are any Post Petition Real Estate Taxes past due?			X
9. Are any other Post Petition Taxes past due?			X
10. Are any amounts owed to Post Petition creditors delinquent?			X
11. Have any Pre Petition Taxes been paid during the reporting period?			X
12. Are any wage payments past due?			X

If the answer to any of the above questions is “Yes”, provide a detailed explanation of each item. Attach additional sheets if necessary.


INSURANCE
	YES		NO
1. Are Worker’s Compensation, General Liability and other necessary insurance coverages in effect?		X
2. Are all premium payments paid current?		X
3. Please itemize policies below.

If the answer to any of the above questions is “No”, or if any policies have been canceled or not renewed during this reporting period, provide an explanation below. Attach additional sheets if necessary.

INSTALLMENT PAYMENTS


			PAYMENT AMOUNT
TYPE OF POLICY	CARRIER	PERIOD COVERED	& FREQUENCY
General Liability	Burlington Insurance	07/01/10 — 07/01/11	Paid in Full
General Liability-Mortgagee in	Lexington	10/27/08 — 10/27/11	Paid in Full
Possession

This form ___ does _X__ does not have related footnotes on Footnotes Supplement.

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CASE NAME:	Guaranty Group Capital Inc.	FOOTNOTES

CASE NUMBER:	09-35586	ACCRUAL BASIS

MONTH: September-10


ACCRUAL BASIS	LINE
FORM NUMBER	NUMBER		FOOTNOTE / EXPLANATION

General			The Office of Thrift Supervision appointed the FDIC as receiver for Guaranty Bank, an indirect subsidiary of the Guaranty Financial Group Inc. on August 21, 2009. The Debtor subsequently filed its petition with the U.S. Bankruptcy Court on August 27, 2009.

Accrual 1		1	Pursuant to the Order Implementing the Requirements of Section 345(B) of the Bankruptcy Code and the Region VI, Northern District of Texas, Guidelines for Chapter 11 Debtors-In-Possession filed on September 3, 2009, the Debtor’s transferred cash to its debtor-in-possession bank accounts.

CASE NAME: Guaranty Group Capital Inc.

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