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Glacier Bancorp, Inc. (GBCI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

GBCI Quarterly Reports

Glacier Bancorp Inc

CIK: 868671 Ticker: GBCI

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NEWS RELEASE
April 23, 2020

FOR IMMEDIATE RELEASECONTACT: Randall M. Chesler, CEO
(406) 751-4722
Ron J. Copher, CFO
(406) 751-7706

GLACIER BANCORP, INC. ANNOUNCES
RESULTS FOR THE QUARTER ENDED MARCH 31, 2020

1st Quarter 2020 Highlights:
Net income of $43.3 million for the current quarter, a decrease of $5.8 million, or 12 percent, over the prior year first quarter net income of $49.1 million. The current quarter results include $19.1 million of credit loss expense related to the COVID-19 pandemic and $4.8 million of credit loss expense from the acquisition of State Bank Corp., consistent with the adoption of the current expected credit loss (“CECL”) accounting standard at the beginning of 2020.
Including the impact from CECL, the current quarter diluted earnings per share of $0.46, a decrease of 21 percent from the prior year first quarter diluted earnings per share of $0.58.
The loan portfolio organically grew $124 million, or 5 percent annualized, during the current quarter and increased $450 million, or 5 percent, from the prior year first quarter.
The Company provided Small Business Administration (SBA) Payroll Protection Program (PPP) loans to businesses in its communities. As of April 21, the Company had approved 8,775 PPP loans in the amount of $1.088 billion.
Non-interest bearing deposits organically increased $37.6 million, or 4 percent annualized, during the current quarter and increased $293 million, or 10 percent, from the prior year first quarter.
Non-performing assets as a percentage of assets was 0.26 percent, a 16 basis points decrease from the prior year first quarter.
Early stage delinquencies as a percentage of loans was 0.41 percent, a 3 basis points decrease from the prior year first quarter.
Purchased $723 million of municipal and corporate debt securities in the current quarter.
Declared a quarterly dividend of $0.29 per share. The Company has declared 140 consecutive quarterly dividends and has increased the dividend 45 times.
On February 29, 2020, the Company completed the acquisition of State Bank Corp., the parent company of State Bank of Arizona, a community bank based in Lake Havasu City, Arizona with total assets of $744 million which significantly expanded our Company’s Arizona franchise.
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The following information was filed by Glacier Bancorp Inc (GBCI) on Thursday, April 23, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Changes In Stockholders' Equity
Unaudited Condensed Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Unaudited Condensed Consolidated Statements Of Comprehensive Income
Unaudited Condensed Consolidated Statements Of Financial Condition
Unaudited Condensed Consolidated Statements Of Financial Condition (Parenthetical)
Unaudited Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Acl Activity (Details)
Afs Debt Securities In An Unrealized Loss Position (Details)
Alll And Loans Receivable Summary (Details)
Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities (Details)
Carrying Amount And Estimated Fair Value Of Financial Instruments Not Carried At Fair Value (Details)
Carrying Value Of Repurchase Agreements (Details)
Components Of Lease Expense (Details)
Credit Quality Indicators For Commercial Loans (Details)
Credit Quality Indicators For Rre And Consumer Loans (Details)
Credit Quality Indictors For Htm Debt Securities (Details)
Debt Securities
Debt Securities (Details Textual)
Debt Securities (Tables)
Debt Securities Maturity Schedule (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Details Textual)
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities Interest Rate Swap Gains Or Losses (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements (Details Textual)
Fair Value Measurements On A Non-Recurring Basis (Details)
Fair Value Measurements On A Recurring Basis (Details)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Tables)
Future Unfunded Contingent Commitments (Details)
Goodwill
Goodwill (Details Textual)
Goodwill (Tables)
Goodwill Changes In The Carrying Value Of Goodwill (Details)
Impaired Loans (Details)
Lease Summary (Details)
Leases
Leases (Tables)
Loans Receivable Aging Analysis (Details)
Loans Receivable, Net
Loans Receivable, Net (Details Textual)
Loans Receivable, Net (Tables)
Maturities Of Lease Liabilities (Details)
Mergers And Acquisitions
Mergers And Acquisitions (Details Textual)
Mergers And Acquisitions (Tables)
Mergers And Acquisitions Consideration Transferred, Identifiable Net Assets Acquired And Goodwill Recognized (Details)
Mergers And Acquisitions Pro Forma Summary (Details)
Nature Of Operations And Summary Of Significant Accounting Policies
Nature Of Operations And Summary Of Significant Accounting Policies (Details Textual)
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Other Expenses
Other Expenses (Details)
Other Expenses (Tables)
Proceeds From Sales And Calls Of Debt Securities And Associates Gains Or Losses (Details)
Quantitative Information About Level 3 Fair Value Measurements (Details)
Securities Sold Under Agreements To Repurchase
Securities Sold Under Agreements To Repurchase (Details Textual)
Securities Sold Under Agreements To Repurchase (Tables)
Summary Of Loans Receivable (Details)
Supplemental Cash Flow Information (Details)
Troubled Debt Restructurings (Details)
Variable Interest Entities
Variable Interest Entities (Details Textual)
Variable Interest Entities (Tables)
Variable Interest Entities Amortization Expense And Tax Credits And Other Tax Benefits (Details)
Variable Interest Entities Vie Carrying Amounts Included In Financial Statements (Details)

Material Contracts, Statements, Certifications & more

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

Ticker: GBCI
CIK: 868671
Form Type: 10-Q Quarterly Report
Accession Number: 0000868671-20-000061
Submitted to the SEC: Fri May 08 2020 4:33:41 PM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: State Commercial Banks

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