Guaranty Bank says end is near.

[ananda]

http://www.statesman.com/business/content/business/stories/other/2009/07/24/0724guaranty.html

Troubled Guaranty Financial Group said Thursday that its financial condition had become critical and that it has run out of options other than a federal takeover.

The Austin-based parent of Guaranty Bank said major shareholders have been unwilling to commit more capital. As a result, Guaranty said that its last hope — a rarely used federal bailout program — is no longer a possibility.

In a securities filing, the company said "it is probable that it will not be able to continue as a going concern."

Dan Bass, managing director in Houston of Carson Medlin Co., an investment banking firm, said it looks as though Guaranty is headed toward a federal takeover.