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Glacier Bancorp, Inc. (GBCI) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Glacier Bancorp Inc

CIK: 868671 Ticker: GBCI

gbci_logoxstatesxmayx20191.jpg

NEWS RELEASE
January 28, 2021

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 AND YEAR ENDED DECEMBER 31, 2020

4th Quarter 2020 Highlights:
Record net income of $81.9 million, an increase of $24.5 million, or 43 percent, over the prior year fourth quarter net income of $57.4 million.
Diluted earnings per share of $0.86, an increase of 39 percent from the prior year fourth quarter diluted earnings per share of $0.62.
Gain on sale of loans of $26.2 million, increased $16.1 million, or 159 percent, compared to the prior year fourth quarter.
Bank loan modifications related to the coronavirus disease of 2019 (“COVID-19”) decreased $371 million from the prior quarter and decreased $1.420 billion from the second quarter to $94.9 million, or 93 basis points of loans excluding the PPP loans.
Non-performing assets as a percentage of subsidiary assets was 0.19 percent, which compared to 0.25 percent in the prior quarter and 0.27 percent in the prior year fourth quarter.
Core deposits increased $579 million, or 4 percent.
The loan portfolio, excluding Payroll Protection Program (“PPP”) loans, organically increased $43.2 million, or 42 basis points, in the current quarter.
The Company was active in submitting applications to the SBA for PPP loan forgiveness resulting in a $539 million decrease, or 37 percent, in the PPP loan portfolio and a $14.0 million acceleration of net deferred fees included in interest income.
Declared and paid a regular quarterly dividend of $0.30 per share. The Company has declared 143 consecutive quarterly dividends and has increased the dividend 46 times.
Declared a special dividend of $0.15 per share. This was the 17th special dividend the Company has declared.

Year 2020 Highlights:
Record net income of $266 million for 2020, an increase of $55.9 million, or 27 percent, over the prior year net income of $211 million.
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The following information was filed by Glacier Bancorp Inc (GBCI) on Thursday, January 28, 2021 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:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Borrowings
Borrowings (Tables)
Borrowings - Additional Information (Details)
Borrowings - Scheduled Maturities Of Fhlb Advances (Details)
Borrowings - Summary Of Repurchase Agreements (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Details)
Commitments And Contingent Liabilities (Tables)
Debt Securities
Debt Securities (Tables)
Debt Securities - Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities (Details)
Debt Securities - Credit Quality Indicators For Htm Debt Securities (Details)
Debt Securities - Gain Or Loss On Sale (Details)
Debt Securities - Maturity Schedule (Details)
Debt Securities - Narrative (Details)
Debt Securities - Unrealized Loss Position (Details)
Deposits
Deposits (Details)
Deposits (Tables)
Deposits - Scheduled Maturities Of Time Deposits (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities - Interest Rate Swap Gains Or Losses (Details)
Derivatives And Hedging Activities - Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans - Narrative (Details)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Tables)
Fair Value Of Assets And Liabilities - Carrying Amount And Fair Value Of Financial Instruments (Details)
Fair Value Of Assets And Liabilities - Fair Value Measurements On A Non-Recurring Basis (Details)
Fair Value Of Assets And Liabilities - Fair Value Measurements On A Recurring Basis (Details)
Fair Value Of Assets And Liabilities - Narrative (Details)
Fair Value Of Assets And Liabilities - Quantitative Information About Level 3 Fair Value Measurements (Details)
Federal And State Income Taxes
Federal And State Income Taxes (Tables)
Federal And State Income Taxes - Deferred Tax Assets And Deferred Tax Liabilities (Details)
Federal And State Income Taxes - Narrative (Details)
Federal And State Income Taxes - Summary Of Effective Tax Rate (Details)
Federal And State Income Taxes - Summary Of Income Tax Expense (Details)
Federal And State Income Taxes - Years Subject To Examination (Details)
Loan Servicing
Loan Servicing (Details)
Loan Servicing (Tables)
Loans Receivable, Net
Loans Receivable, Net (Tables)
Loans Receivable, Net - Acl Activity (Details)
Loans Receivable, Net - Aging Analysis (Details)
Loans Receivable, Net - Alll And Loans Receivable Summary (Details)
Loans Receivable, Net - Collateral-Dependent Loans (Details)
Loans Receivable, Net - Credit Quality Indicators For Commercial Loans (Details)
Loans Receivable, Net - Narrative (Details)
Loans Receivable, Net - Summary Of Loans Receivable (Details)
Loans Receivable, Net - Troubled Debt Restructurings (Details)
Mergers And Acquisitions
Mergers And Acquisitions (Tables)
Mergers And Acquisitions - Consideration Transferred, Identifiable Net Assets Acquired And Goodwill Recognized (Details)
Mergers And Acquisitions - Narrative (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 (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies - Narrative (Details)
Notes Receivable, Net - Credit Quality Indicators For Rre And Consumer Loans (Details)
Notes Receivable, Net - Impaired Loans (Details)
Other Expenses
Other Expenses (Details)
Other Expenses (Tables)
Other Intangible Assets And Goodwill
Other Intangible Assets And Goodwill (Tables)
Other Intangible Assets And Goodwill - Changes In The Carrying Value Of Goodwill (Details)
Other Intangible Assets And Goodwill - Narrative (Details)
Other Intangible Assets And Goodwill - Net Carrying Value Of Core Deposit Intangibles (Details)
Parent Holding Company Information (Condensed)
Parent Holding Company Information (Condensed) (Tables)
Parent Holding Company Information (Condensed) - Condensed Statements Of Cash Flows (Details)
Parent Holding Company Information (Condensed) - Condensed Statements Of Financial Condition (Details)
Parent Holding Company Information (Condensed) - Condensed Statements Of Operations And Comprehensive Income (Details)
Premises And Equipment
Premises And Equipment (Tables)
Premises And Equipment - Components Of Lease Expense (Details)
Premises And Equipment - Lease Summary (Details)
Premises And Equipment - Maturities Of Lease Liabilities (Details)
Premises And Equipment - Net Of Accumulated Depreciation (Details)
Premises And Equipment - Supplemental Cash Flow Information (Details)
Regulatory Capital
Regulatory Capital (Details)
Regulatory Capital (Tables)
Regulatory Capital - Narrative (Details)
Stock-Based Compensation Plan
Stock-Based Compensation Plan (Tables)
Stock-Based Compensation Plan - Narrative (Details)
Stock-Based Compensation Plan - Summary Of Restricted Stock Unit Activity (Details)
Stock-Based Compensation Plan - Summary Of Stock Option Activity (Details)
Subordinated Debentures
Subordinated Debentures (Details)
Subordinated Debentures (Tables)
Subordinated Debentures - Narrative (Details)
Unaudited Quarterly Financial Data (Condensed)
Unaudited Quarterly Financial Data (Condensed) (Details)
Unaudited Quarterly Financial Data (Condensed) (Tables)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Additional Information (Details)
Variable Interest Entities - Amortization Expense And Tax Credits And Other Tax Benefits (Details)
Variable Interest Entities - Future Unfunded Contingent Commitments (Details)
Variable Interest Entities - Vie Carrying Amounts Included In Financial Statements (Details)
Ticker: GBCI
CIK: 868671
Form Type: 10-K Annual Report
Accession Number: 0000868671-21-000037
Submitted to the SEC: Mon Mar 01 2021 2:43:46 PM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: State Commercial Banks

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