Guaranty Financial 8-K Other Events

Exhibit 99.3

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CASE NAME: Guaranty Holdings Inc.	ACCRUAL BASIS
CASE NUMBER: 09-35584
JUDGE: Judge Houser

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DALLAS     DIVISION

MONTHLY OPERATING REPORT

MONTH ENDING: October  31, 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	11/11/10
Printed Name of Responsible Party	Date
PREPARER:
/s/ Jason A. Rae	Accountant
Original Signature of Preparer	Title
Jason A. Rae	11/11/10
Printed Name of Preparer	Date

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CASE NAME: Guaranty Holdings Inc.	ACCRUAL BASIS — 1
CASE NUMBER: 09-35584

COMPARATIVE BALANCE SHEET				(SEE GENERAL FOOTNOTE)
		SCHEDULED		MONTH			MONTH	MONTH
ASSETS		AMOUNT		Oct-10			Nov-10	Dec-10
1.	Unrestricted Cash		8,472		6,846
2.	Restricted Cash
3.	Total Cash		8,472		6,846
4.	Accounts Receivable (Net)
5.	Inventory
6.	Notes Receivable
7.	Prepaid Expenses
8.	Other (Attach List)
9.	Total Current Assets		8,472		6,846
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		8,472		6,846
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				8,472
31.	Post Petition Cumulative Profit Or (Loss)				(1,626	)
32.	Direct Charges To Equity
33.	Total Equity				6,846
34.	Total Liabilities and Equity				6,846

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

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CASE NAME: Guaranty Holdings Inc.	SUPPLEMENT TO
CASE NUMBER: 09-35584	ACCRUAL BASIS — 1

COMPARATIVE BALANCE SHEET		(SEE GENERAL FOOTNOTE)
	SCHEDULED	MONTH	MONTH	MONTH
ASSETS	AMOUNT	Oct-10	Nov-10	Dec-10
A.
B.
C.
D.
E.
TOTAL OTHER ASSETS — LINE 8
A. Guaranty Bank	Unknown
B.
C.
D.
E.
TOTAL OTHER ASSETS NET OF AMORTIZATION — LINE 14
A.
B.
C.
D.
E.
TOTAL OTHER ASSETS — LINE 15
POST PETITION LIABILITIES
A.
B.
C.
D.
E.
TOTAL OTHER POST PETITION LIABILITIES — LINE 22
PRE PETITION LIABILITIES
A.
B.
C.
D.
E.
TOTAL OTHER PRE PETITION LIABILITIES — LINE 27

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CASE NAME: Guaranty Holdings Inc.	ACCRUAL BASIS — 2
CASE NUMBER: 09-35584

INCOME STATEMENT				(SEE GENERAL FOOTNOTE)
	MONTH			MONTH	MONTH	QUARTER
REVENUES	Oct-10			Nov-10	Dec-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)		0					0
17. Non-Operating Expense (Att List)
18. Interest Expense
19. Depreciation / Depletion
20. Amortization
21. Other (Attach List)
22. Net Other Income & Expenses		0					0
REORGANIZATION EXPENSES
23. Professional Fees
24. U.S. Trustee Fees		325					325
25. Other (Attach List)
26. Total Reorganization Expenses		325					325
27. Income Tax
28. Net Profit (Loss)		(325	)				(325	)

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

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CASE NAME: Guaranty Holdings Inc.	SUPPLEMENT TO
CASE NUMBER: 09-35584	ACCRUAL BASIS — 2

INCOME STATEMENT
	MONTH		MONTH	MONTH	QUARTER
OPERATING EXPENSES	Oct-10		Nov-10	Dec-10	TOTAL
A.
B.
C.
D.
E.
F.
G.
H.
I.
J.
K.
TOTAL OTHER OPERATING EXPENSES — LINE 13
OTHER INCOME & EXPENSES
A. Interest Income		0				0
B.
C.
D.
TOTAL NON-OPERATING INCOME — LINE 16		0				0
A.
B.
C.
D.
TOTAL NON-OPERATING EXPENSE — LINE 17
REORGANIZATION EXPENSES
A.
B.
C.
D.
E.
TOTAL OTHER REORGANIZATION EXPENSES — LINE 25

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CASE NAME: Guaranty Holdings Inc.	ACCRUAL BASIS — 3
CASE NUMBER: 09-35584

CASH RECEIPTS AND	MONTH			MONTH	MONTH	QUARTER
DISBURSEMENTS	Oct-10			Nov-10	Dec-10	TOTAL
1. Cash — Beginning Of Month		7,171					7,171
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)		0					0
9. Total Non-Operating Receipts		0					0
10. Total Receipts		0					0
11. Total Cash Available		7,171					7,171
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		(325	)				(325	)
33. Cash — End of Month		6,846					6,846

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

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CASE NAME: Guaranty Holdings Inc.	SUPPLEMENT TO
CASE NUMBER: 09-35584	ACCRUAL BASIS — 3

CASH RECEIPTS AND
DISBURSEMENTS
	MONTH		MONTH	MONTH	QUARTER
NON-OPERATING RECEIPTS	Oct-10		Nov-10	Dec-10	TOTAL
A.
B.
C.
D.
E.
TOTAL LOANS & ADVANCES — LINE 6
A. Interest		0				0
B.
C.
D.
E.
TOTAL OTHER NON-OPERATING RECEIPTS — LINE 8		0				0
OPERATING DISBURSEMENTS
A.
B.
C.
D.
E.
F.
G.
H.
TOTAL OTHER OPERATING DISBURSEMENTS — LINE 25
REORGANIZATION DISBURSEMENTS
A.
B.
C.
D.
E.
TOTAL OTHER REORGANIZATION DISBURSEMENTS — LINE 29

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CASE NAME:Guaranty Holdings Inc. ACCRUAL BASIS — 4

CASE NUMBER:09-35584 (SEE GENERAL FOOTNOTE)

	SCHEDULED	MONTH	MONTH	MONTH
ACCOUNTS RECEIVABLE AGING	AMOUNT	Oct-10	Nov-10	Dec-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: October-10
AGING OF POST PETITION TAXES AND PAYABLES
	0 - 30	31 - 60	61 - 90	91 +
TAXES PAYABLE	DAYS	DAYS	DAYS	DAYS	TOTAL
1. Federal
2. State
3. Local
4. Other (Attach List)
5. Total Taxes Payable
6. Accounts Payable

MONTH: October-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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CASE NAME:Guaranty Holdings Inc. ACCRUAL BASIS — 5

CASE NUMBER:09-35584

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: October-10
BANK RECONCILIATIONS	Account # 1		Account # 2	Account # 3	Other Accounts
A.BANK:	Bank of America				(Attach List)
B.ACCOUNT NUMBER:		4429005336
C.PURPOSE (TYPE):	Money Market					TOTAL
1. Balance Per Bank Statement		6,846				6,846
2. Add: Total Deposits Not Credited
3. Subtract: Outstanding Checks
4. Other Reconciling Items
5. Month End Balance Per Books		6,846				6,846
6. Number of Last Check Written		N/A

INVESTMENT ACCOUNTS
BANK, ACCOUNT NAME & NUMBER	DATE OF PURCHASE	TYPE OF INSTRUMENT	PURCHASE PRICE	CURRENT VALUE
7.
8.
9.
10. (Attach List)
11. Total Investments
CASH
12. Currency On Hand
13. Total Cash — End of Month					6,846

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

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CASE NAME: Guaranty Holdings Inc. ACCRUAL BASIS — 6

CASE NUMBER: 09-35584
	MONTH:October-10
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
NAME	TYPE OF PAYMENT	AMOUNT PAID	TOTAL PAID TO DATE
1.
2.
3.
4.
5.
6.
7.
8. (Attach List)
9. Total Payments To Insiders

PROFESSIONALS
	DATE OF COURT ORDER				TOTAL INCURRED &
NAME	AUTHORIZING PAYMENT	AMOUNT APPROVED	AMOUNT PAID	TOTAL PAID TO DATE	UNPAID *
1.
2.
3.
4.
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 MONTHLY	AMOUNTS PAID	TOTAL UNPAID
NAME OF CREDITOR	PAYMENTS DUE	DURING MONTH	POST PETITION
1.	$—
2.
3.
5. (Attach List)
6. TOTAL		$—	$—

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

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CASE NAME:Guaranty Holdings Inc. ACCRUAL BASIS — 7

CASE NUMBER:09-35584

MONTH: October-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 Possession	Lexington	10/27/08 — 10/27/11	Paid in Full

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CASE NAME: Guaranty Holdings Inc. FOOTNOTES

CASE NUMBER: 09-35584 ACCRUAL BASIS

MONTH:October-10

ACCRUAL BASIS FORM	LINE
NUMBER	NUMBER		FOOTNOTE / EXPLANATION
General			The Office of Thrift Supervision appointed the FDIC as receiver for Guaranty Bank, an indirect subsidiary of 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.