Glacier Bancorp Q1 net income $32.6M, down 47% YoY; EPS $0.29

GLACIER BANCORP, INC.

2024-Q1 EPS reported $0.29 revenue$22,151,000

Net income $32.6M ($0.29 diluted EPS) vs $61.2M ($0.55) in year-ago quarter; decrease driven by higher funding costs and Wheatland acquisition expenses.
Net interest margin (tax-equivalent) improved to 2.59% from 2.56% QoQ, first increase since Q3 2022; core NIM 2.55%.
Loans grew 3% to $16.73B; deposits up 3% to $20.43B; repaid $2.74B BTFP borrowings using FHLB advances and cash.
Completed Wheatland Bank acquisition (assets $778M) on Jan 31,2024; announced agreement to buy 6 Montana branches from HTLF, expected close Q3 2024.
Non-interest expense $151.8M included $10.7M acquisition costs and $1.5M FDIC special assessment; efficiency ratio rose to 74.4%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLACIER BANCORP, INC. reported for the quarter ended March 31, 2024 results: net income $32.6 million, EPS $0.29 per share.

Period: for the quarter ended March 31, 2024
Net income: $32.6 million
EPS: $0.29 per share
Result: reported results

Exact text from the filing

On April 18, 2024, Glacier Bancorp, Inc. ("Company") issued a press release announcing its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000868671-24-000058

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