Glacier Bancorp Q2 net income falls 28% YoY to $55.0M; NIM narrows to 2.74%

GLACIER BANCORP, INC.

2023-Q2 EPS reported $1.05 revenue$43,200,000

Net income $55.0M ($0.50 diluted EPS), down 28% from $76.4M ($0.69) in Q2 2022.
Net interest margin (tax-equivalent) compressed to 2.74% from 3.23% a year ago; interest expense surged 1,116%.
Loan portfolio grew 11% annualized to $15.955B; commercial real estate led with $229M increase.
Non-performing assets remained low at 0.12% of subsidiary assets; ACL at 1.19% of loans.
Dividend declared $0.33 per share, unchanged; tangible book value rose to $17.18 per share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLACIER BANCORP, INC. reported the six months ended June 30, 2023 results: net income $116 million, EPS $1.05 per share.

Period: the six months ended June 30, 2023
Net income: $116 million
EPS: $1.05 per share
Result: reported results

Exact text from the filing

Net income for the six months ended June 30, 2023 was $116 million, a decrease of $28.0 million, or 19 percent, from the $144 million for the first six months in the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLACIER BANCORP, INC. reported the quarter ended June 30, 2023 results: net income $55.0 million, EPS $0.50 per share.

Period: the quarter ended June 30, 2023
Net income: $55.0 million
EPS: $0.50 per share
Result: reported results

Exact text from the filing

On July 20, 2023, Glacier Bancorp, Inc. ("Company") issued a press release announcing its financial results for the quarter ended June 30, 2023.

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GLACIER BANCORP, INC. filing history →

Source: SEC EDGAR

accession 0000868671-23-000110

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