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Glacier Bancorp, Inc. (GBCI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Glacier Bancorp Inc

CIK: 868671 Ticker: GBCI

gbci_logoxstatesxmayx20191.jpg

NEWS RELEASE
April 22, 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 ENDED MARCH 31, 2021

1st Quarter 2021 Highlights:
Net income of $80.8 million, an increase of $37.5 million, or 86 percent, over the prior year first quarter net income of $43.3 million.
Diluted earnings per share of $0.85, an increase of 85 percent from the prior year first quarter diluted earnings per share of $0.46.
Gain on sale of loans of $21.6 million, increased $9.8 million, or 82 percent, compared to the prior year first quarter.
Non-interest expense of $96.6 million, decreased $14.6 million, or 13 percent, compared to the prior quarter and increased $1.1 million, or 1 percent, from the prior year first quarter.
Bank loan modifications related to the coronavirus disease of 2019 (“COVID-19”) decreased $13.5 million from the prior quarter and decreased $1.433 billion from the second quarter of 2020 to $81.3 million, or 79 basis points of loans excluding the Payroll Protection Program (“PPP”) loans.
Non-performing assets as a percentage of subsidiary assets was 0.19 percent, which compared to 0.19 percent in the prior quarter and 0.26 percent in the prior year first quarter.
Core deposits increased $1.307 billion, or 35 percent annualized, during the current quarter and increased $4.571 billion, or 40 percent, from the prior year first quarter.
The loan portfolio increased $147 million, or 5 percent annualized, in the current quarter and increased $1.182 billion, or 12 percent, from the prior year first quarter.
The Company funded 6,500 PPP loans in the amount of $487 million during the current quarter.
The Company received $426 million in PPP loan forgiveness from the U.S. Small Business Administration (“SBA”) during the current quarter.
Declared a quarterly dividend of $0.31 per share, an increase of $0.01 per share or 3 percent over the prior quarter regular dividend. The Company has declared 144 consecutive quarterly dividends and has increased the dividend 47 times.

1

The following information was filed by Glacier Bancorp Inc (GBCI) on Thursday, April 22, 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-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

Cover
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 (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Debt Securities
Debt Securities (Tables)
Debt Securities - Afs Debt Securities In An Unrealized Loss Position (Details)
Debt Securities - Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities (Details)
Debt Securities - Credit Quality Indictors For Htm Debt Securities (Details)
Debt Securities - Maturity Schedule (Details)
Debt Securities - Narrative (Details)
Debt Securities - Proceeds From Sales And Calls Of Debt Securities And Associates Gains Or Losses (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Details)
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 - Narrative (Details)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (Tables)
Fair Value Of Assets And Liabilities - Carrying Amount And Estimated Fair Value Of Financial Instruments Not Carried At Fair Value (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 - Quantitative Information About Level 3 Fair Value Measurements (Details)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Goodwill - Changes In The Carrying Value Of Goodwill (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Summary (Details)
Leases - Supplemental Cash Flow Information (Details)
Loan Servicing
Loan Servicing (Tables)
Loan Servicing - Schedule Of Changes In Carrying Value Of Mortgage Servicing Rights (Details)
Loans Receivable, Net
Loans Receivable, Net (Details)
Loans Receivable, Net (Tables)
Loans Receivable, Net - Acl Activity (Details)
Loans Receivable, Net - Aging Analysis (Details)
Loans Receivable, Net - Collateral-Dependent Loans (Details)
Loans Receivable, Net - Credit Quality Indicators For Commercial Loans (Details)
Loans Receivable, Net - Credit Quality Indicators For Rre And Consumer Loans (Details)
Loans Receivable, Net - Summary Of Loans Receivable (Details)
Loans Receivable, Net - Troubled Debt Restructurings (Details)
Nature Of Operations And Summary Of Significant Accounting Policies
Nature Of Operations And Summary Of Significant Accounting Policies (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Other Expenses
Other Expenses (Details)
Other Expenses (Tables)
Securities Sold Under Agreements To Repurchase
Securities Sold Under Agreements To Repurchase (Details)
Securities Sold Under Agreements To Repurchase (Tables)
Securities Sold Under Agreements To Repurchase - Carrying Value Of Repurchase Agreements (Details)
Variable Interest Entities
Variable Interest Entities (Details)
Variable Interest Entities (Tables)
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)

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: 0000868671-21-000046
Submitted to the SEC: Mon May 03 2021 4:34:43 PM EST
Accepted by the SEC: Mon May 03 2021
Period: Wednesday, March 31, 2021
Industry: State Commercial Banks

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