Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended December 31, 2024

Financial Performance - Net income for the fourth quarter of 2024 was $61.8 million, an increase of $10.7 million, or 21 percent, from the prior quarter and an increase of $7.4 million, or 14 percent, from the prior year fourth quarter [2][3] - Diluted earnings per share for the current quarter was $0.54, an increase of 20 percent from the prior quarter and an increase of 10 percent from the prior year fourth quarter [2][3] - Net interest income for the current quarter was $191 million, an increase of $11.2 million, or 6 percent, from the prior quarter and an increase of $25 million, or 15 percent, from the prior year fourth quarter [2][22] Loan Portfolio and Asset Quality - The loan portfolio increased to $17.262 billion, with an increase of $81 million, or 2 percent annualized, during the current quarter and an increase of $1.064 billion, or 7 percent, from the prior year end [6][15] - The net interest margin for the current quarter was 2.97 percent, an increase of 14 basis points from the prior quarter and an increase of 41 basis points from the prior year fourth quarter [2][24] - The allowance for credit losses as a percentage of total loans was 1.19 percent, unchanged from the prior year end [11][12] Acquisitions and Growth - The company completed the acquisition of six branches from Rocky Mountain Bank and the acquisition of Wheatland Financial Group, which added significant assets and expanded its market presence [4][5] - Total assets as of December 31, 2024, were $27.903 billion, a decrease of $302.8 million from the prior quarter but an increase of $160.4 million from the prior year [5][15] - The company declared a quarterly dividend of $0.33 per share, marking the 159th consecutive quarterly dividend [19] Non-Interest Income and Expenses - Non-interest income for the current quarter totaled $31.5 million, a decrease of $3.2 million, or 9 percent, from the prior quarter but an increase of $684 thousand, or 2 percent, from the prior year fourth quarter [25] - Non-interest expenses were $141 million for the current quarter, a decrease of $3.7 million, or 3 percent, from the prior quarter [2][3] Market Performance - The closing market value per share was $50.22, with a high of $60.67 and a low of $43.70 during the quarter [3][19] - The company’s stockholders' equity to total assets ratio was 11.55 percent, reflecting a strong capital position [17][18]