Two-dimensional periodic arrays of noble metal nanospheres support a variety of optical phenomena, including bound and leaky modes of several types. The scope of this paper is the characterization of the modal dispersion diagrams of planar arrays of silver nanospheres, with the ability to follow individual modal evolutions. The metal spherical nanoparticles are described using the single dipole approximation technique by including all the retarded dynamic field terms. Polarizability of the nanospheres is provided by the Mie theory. Dispersion diagrams for both physical and nonphysical modes are shown for a square lattice of Ag nanospheres for the case of lossless and lossy metal particles, with dipole moments polarized along the x, y, and z directions. Though an array with one set of parameters has been studied, the analysis method and classification are general. The evolution of modes through different Riemann sheets and analysis of guidance and radiation are studied in detail.