Glacier Bancorp Inc (GBCI) 10K Annual Reports & 10Q SEC Filings

•Net interest income, on a tax-equivalent basis, excluding the PPP loans, of $184 million, increased $29.4 million, or 19 percent, over the prior quarter net interest income of $154 million.

•The loan portfolio, excluding the Payroll Protection Program (“PPP”) loans, organically grew $448 million, or 16 percent annualized, in the current quarter.

•Core deposits organically increased $560 million, or 13 percent annualized, during the current quarter.

•Received $201 million in PPP loan forgiveness proceeds from the U.S. Small Business Administration (“SBA”) during the current quarter compared to $327 million in the prior quarter.

•The Company transferred the listing of its common stock to the New York Stock Exchange (“NYSE”) from the NASDAQ Global Select Market.

•Declared and paid a regular quarterly dividend of $0.32 per share. The Company has declared 147 consecutive quarterly dividends and has increased the dividend 48 times.

•Declared a special dividend of $0.10 per share. This was the 18th special dividend the Company has declared.

Year 2021 Highlights:

•Record net income of $285 million, an increase of $18.4 million, or 7 percent, over the prior year net income of $266 million.

•Diluted earnings per share of $2.86, an increase of 2 percent from the prior year diluted earnings per share of $2.81.

•Net interest income, on a tax-equivalent basis, excluding the PPP loans, of $636 million, an increase of $57.5 million, or 10 percent, over the prior year net interest income of $578 million.

•The loan portfolio, excluding the PPP loans, organically increased $1.160 billion, or 11 percent, in 2021.

•Core deposits organically increased $3.278 billion, or 22 percent, during 2021.

•The Company funded 8,525 PPP loans in the amount of $555 million during the first half of 2021.

The following information was filed by Glacier Bancorp Inc (GBCI) on Thursday, January 27, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Glacier Bancorp Inc's 10-K Annual Report:

Other - Other Highlight
Should any of the factors considered by management in making this estimate change, the Company's estimate of current expected credit losses could also change, which could affect the level of future provision of credit losses related to loans.

Other - Other Highlight
Allowance for Credit Losses - Loans Receivable On January 1, 2020, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Updates ("ASU") 2016-13, Financial Instruments - Credit Losses, which significantly changed the allowance for credit loss accounting policies.
Financial - Expense Highlight
Cyber Risk A failure in or breach of the Company's operational or security systems, or those of the Company's third party service providers, including as a result of cyber-attacks, could disrupt business, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase costs and cause losses.
M & A - Other Highlight
The growth in the investment securities was the result of security purchases utilizing the $1.623 billion of cash received from the Alta acquisition, excess liquidity from the increase in core deposits, and SBA forgiveness of PPP loans.
Financial - Cash Flow Highlight
providing for an adequate cushion of liquidity to meet unanticipated cash flow needs that may arise from potential adverse circumstances ranging from high probability/low severity events to low probability/high severity; and 3.
Financial - Earnings
The net interest margin as...Read more
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Impact of Recently Issued Accounting...Read more
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The information includes material information...Read more
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Conversely, the Company may decide...Read more
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Changes in the economic environment,...Read more
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Allowance for Credit Losses The...Read more
Financial - Shares
Tangible stockholders' equity increased $402...Read more
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Examples of events and circumstances...Read more
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The following table discloses the...Read more
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The unprecedented increase in deposits...Read more
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FHLB advances and certain other...Read more
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The current and prior year's...Read more
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For information regarding the ACL...Read more
Financial - Expense
Interest expense of $18.6 million...Read more
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The following table illustrates the...Read more
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The non-GAAP effective income tax...Read more
Other - Other
Effective liquidity management entails three...Read more
Financial - Dividend
The Company increased its total...Read more
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Stockholders' Equity The following table...Read more
Financial - Earnings
The improvement in net income...Read more
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The interest income for 2021...Read more
Financial - Expense
Other expenses of $70.6 million...Read more
Revenue - Product
The low levels of borrowings,...Read more
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Total interest expense decreased from...Read more
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The Company's ACL of $173...Read more
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During the first quarter of...Read more
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Total interest expense decreased from...Read more
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Interest income and interest expense,...Read more
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2 Non-interest expense before OREO...Read more
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Administered by the Community Development...Read more
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Looking forward, the Company's future...Read more
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Unimproved Land and Land Development...Read more
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These forward-looking statements include, but...Read more
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Short-term borrowings are accompanied by...Read more
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The increase in the fee...Read more
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Most of the Company's non-performing...Read more
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The Company's loan policy and...Read more
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The Company transferred an additional...Read more
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______________________________ 1 Mortgage-backed securities, which...Read more
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The Company monitors liquidity and...Read more
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The Company ended the year...Read more
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Non-performing assets increased $32.3 million,...Read more
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Short-term borrowings A critical component...Read more
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Other income of $11.0 million...Read more
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The Company evaluates its potential...Read more
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As with any extension of...Read more
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The following table provides a...Read more
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Data processing expense increased $2.3...Read more
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Based on an analysis of...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Glacier Bancorp Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.F: Material Contract

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: GBCI
CIK: 868671
Form Type: 10-K Annual Report
Accession Number: 0000868671-22-000053
Submitted to the SEC: Wed Feb 23 2022 4:44:58 PM EST
Accepted by the SEC: Wed Feb 23 2022
Period: Friday, December 31, 2021
Industry: State Commercial Banks

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Glacier Bancorp, Inc. (GBCI) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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