(c)On July 30, 2012, Guaranty Federal Bancshares, Inc. (the "Company") issued a press release announcing the appointment of Robin Robeson as Executive Vice President and Chief Operating Officer of the Company effective July 30, 2012. Ms. Robeson will be responsible for the strategic oversight, development, and direction of the administrative functions to effectively grow the organization and to ensure financial strength and operating efficiency. Ms. Robeson has over 15 years of banking and trust company experience in the Springfield, Missouri market.

(e)The Bank has agreed to pay Ms. Robeson an annual salary of $170,000, which will be reviewed annually, and may be increased, by the Bank. Ms. Robeson also received 2,500 shares of restricted stock that have a cliff vesting at the end of two years. There is no written employment agreement between the parties.

(d) Exhibits

Exhibit  Description
Number

99.1     Press release dated July 30, 2012 (furnished with respect to Item 5.02(c)).