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Glacier Bancorp, Inc. (GBCI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Glacier Bancorp Inc

CIK: 868671 Ticker: GBCI

gbcilogostatesmay20191.jpg

NEWS RELEASE
July 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 JUNE 30, 2020

2nd Quarter 2020 Highlights:
Net income of $63.4 million for the current quarter, an increase of $11.1 million, or 21 percent, over the prior year second quarter net income of $52.4 million.
Current quarter diluted earnings per share of $0.66, an increase of 8 percent from the prior year second quarter diluted earnings per share of $0.61.
The Company originated U.S. Small Business Administration (“SBA”) Payroll Protection Program (“PPP”) loans for businesses in its communities. The Company funded 15,291 PPP loans in the amount of $1.427 billion.
The loan portfolio organically increased $1.365 billion, or 14 percent, in the current quarter and increased $1.545 billion, or 17 percent, from the prior year second quarter.
Core deposits increased $1.818 billion, or 16 percent, during the current quarter, with non-interest bearing deposit growth of $1.168 billion, or 30 percent.
Debt security income of $25.8 million increased $4.8 million, or 23 percent, over the prior quarter and increased $3.9 million, or 18 percent, over the prior year second quarter.
Gain on sale of loans of $25.9 million, increased $14.0 million, or 118 percent, over the prior quarter and increased $18.1 million, or 233 percent, compared to the prior year second quarter.
Interest expense of $7.2 million decreased $1.3 million, or 15 percent, over the prior quarter and decreased $4.9 million, or 41 percent, compared to the prior year second quarter.
Non-performing assets as a percentage of subsidiary assets was 0.27 percent, which compared to 0.26 percent in the prior quarter and 0.41 percent in the prior year second quarter.
Early stage delinquencies (accruing 30-89 days past due) as a percentage of loans in the current quarter was 0.22 percent, which compared to 0.41 percent in the prior quarter and 0.43 percent in the prior year second quarter.
During the current quarter, S&P Dow Jones Indices selected the Company to transition from the S&P SmallCap 600® to the S&P MidCap 400®.
1

The following information was filed by Glacier Bancorp Inc (GBCI) on Thursday, July 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)
Collateral-Dependent Loans (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: 0000868671-20-000072
Submitted to the SEC: Fri Jul 31 2020 1:37:55 PM EST
Accepted by the SEC: Fri Jul 31 2020
Period: Tuesday, June 30, 2020
Industry: State Commercial Banks

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