Jack L. Barham, Director of Guaranty Federal Bancshares Inc. notified the Board that he would retire from the Board effective at the end of 2013, citing age limitations as the reason for his resignation. Mr. Barham is 80 years of age. Mr. Barham was employed by Guaranty Federal Savings Bank, the predecessor savings bank to Guaranty Bank (the subsidiary bank of the company), for twenty-four years and retired in 1995.

In 1983, he was elected to the company's Board of Directors.