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Filing Details

Accession Number:: 0001179110-10-012314
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-08-05 13:00:00
Reporting Period:: 2010-07-30

Filing Date:: 2010-08-05
Accepted Time:: 2010-08-05 19:28:22
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1324410	Guaranty Bancorp	GBNK	State Commercial Banks (6022)	412150446

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1254596	J William Ruh	6051 El Tordo Po Box 1329 Rancho Santa Fe CA 92067		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-07-30	2,644,963	$1.30	2,644,963	No	4	S	Indirect	Castle Creek Capital Partners III, LP
Common Stock	Acquisiton	2010-07-30	2,644,963	$1.30	2,644,963	No	4	P	Indirect	Castle Creek Capital Partners IV, LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	Castle Creek Capital Partners III, LP
No	4	P	Indirect	Castle Creek Capital Partners IV, LP

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Convertible Preferred Stock	Disposition	2010-07-30	10,700	$1,019.25	5,944,444	$1.80
Common Stock	Series A Convertible Preferred Stock	Acquisiton	2010-07-30	10,700	$1,019.25	5,944,444	$1.80

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
10,700			No	4	S	Indirect
10,700			No	4	P	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	178,610	Indirect	By Lisa A. Ruh Trust

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series A Convertible Preferred Stock	$1.80			147,222	265	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	147,222	265	Indirect

Footnotes

Castle Creek Capital III LLC is the sole general partner of Castle Creek Capital Partners III, LP ("Fund III"). Accordingly, securities owned by Fund III may be regarded as being beneficially owned by Castle Creek Capital III LLC. Ruh Capital LLC ("RCap") is a controlling person of Castle Creek Capital III LLC. Accordingly, securities owned or deemed to be owned by Castle Creek Capital III LLC may be regarded as being beneficially owned by RCap. William J. Ruh is the sole Managing Member of RCap. Mr. Ruh disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he is a beneficial owner of such securities for the purposes of Section 16 or any other purpose.
Lisa A. Ruh is the trustee of the Lisa A. Ruh Trust and Mr. Ruh's spouse. Mr. Ruh disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he is a beneficial owner of such securities for the purposes of Section 16 or any other purpose.
Each share of Series A Convertible Preferred Stock will automatically convert into shares of common stock on August 11, 2014 and may be converted into shares of common stock following the earlier of August 11, 2011 or the occurrence of certain events resulting in the conversion, exchange or reclassification of the common stock. Each share of Series A Convertible Preferred Stock is convertible into shares of common stock at a conversion price of $1.80 per share, adjustable to as low as $1.50 per share in the event of certain nonpayments of dividends (whether paid in cash or in kind) on the Series A Convertible Preferred Stock, and is also subject to customary anti-dilutionadjustments. The holders of the Series A Convertible Preferred Stock will vote together with the holders of common stock as a single class on all matters upon which the holders of common stock are entitled to vote.
Each share of Series A Convertible Preferred Stock will be entitled to such number of votes as the number of shares of common stock into which such share of Series A Convertible Preferred Stock is convertible, assuming for voting purposes only, a conversion price of $2.00 per share.
Castle Creek Capital IV LLC ("CCC IV") is the sole general partner of Castle Creek Capital Partners IV, LP ("Fund IV"). Accordingly, securities owned by Fund IV may be regarded as being beneficially owned by CCC IV. Mr. Ruh is a controlling person of CCC IV. Accordingly, securities owned or deemed to be owned by CCC IV may be regarded as being beneficially owned by Mr. Ruh. Mr. Ruh disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he is a beneficial owner of such securities for the purposes of Section 16 or any other purpose.
Since Mr. Ruh's Form 5 filing on February 16, 2010, an aggregate of 10 and 465 shares of Series A Preferred Stock were dividended by the issuer to the Lisa A. Ruh Trust and Castle Creek Capital Partners IV, LP, respectively, which stock dividends are exempted from Section 16 pursuant to Rule 16a-9(a).
The price for each share was comprised of $1,000, representing the liquidation value of such share, and $19.25, representing accrued and unpaid dividends on such share.