Financial Data and Key Metrics Changes - The company reported a net income of $59.7 million, or $0.38 per diluted share, reflecting a 23% increase from the adjusted EPS of $0.31 in the prior quarter [12] - Return on tangible common equity increased by 231 basis points to 9.87%, and EPS has risen nearly 50% since Q1 [5] - The CET1 ratio at quarter end was 10.14%, and tangible book value per share increased by 3% quarter over quarter to $16.99 [6][12] Business Line Data and Key Metrics Changes - Loan production and disbursements were healthy at $2.1 billion, with a decline in total loans of about 1.6% from the previous quarter due to elevated paydowns [8][9] - Non-interest income rose by 5% from the previous quarter to $34.3 million, primarily due to higher fair value adjustments on market-sensitive instruments [15] - The average yield on loans increased by 12 basis points to 6.05%, driven by a shift towards higher yielding CNI loan categories [12] Market Data and Key Metrics Changes - Core deposit trends were positive, with non-interest-bearing deposits increasing by 9%, now representing 28% of total deposits [7] - Brokered deposits declined by 16% from the prior quarter, contributing to a reduction in the total cost of deposits by 5 basis points to 2.08% [8][13] - The company expects loan growth for the full year to be in the mid-single-digit range [16] Company Strategy and Development Direction - The company aims to capitalize on opportunities in the California banking landscape and is focused on building a valuable core deposit base and deep client relationships [17][18] - The management emphasized a disciplined approach to capital management, including opportunistic share buybacks while maintaining strong capital levels [6][92] - The company is committed to maintaining a strong capital position and delivering sustainable, high-quality earnings growth [11][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term trajectory of the franchise, citing strong performance and positive operating leverage [17][18] - The company anticipates continued margin expansion driven by increased loan production and a favorable mix shift towards higher yielding loans [12][35] - Management noted that credit quality remains stable, with a proactive approach to managing credit risks [10][16] Other Important Information - The company repurchased 2.2 million shares in Q3, totaling 13.6 million shares repurchased under the program, which is more than 8% of outstanding shares [6] - The allowance for credit losses increased to 1.12% of total loans, reflecting a disciplined approach to reserving [11][16] Q&A Session Summary Question: Can you provide insight on credit trends and collateral protection? - Management clarified that their exposure related to NDFI lending is well secured by real estate, distinguishing their practices from those of peers involved in collateral pools [24][26] Question: What is the outlook for net interest margin? - Management expects net interest margin to continue expanding, with a target range of 3.20%-3.30% for the fourth quarter, not assuming rate cuts [33][34] Question: How is the company managing deposit growth? - Management indicated that deposit growth was broad-based and emphasized the importance of maintaining a balance between deposits and loans [50][60] Question: What are the key drivers of loan production? - Management highlighted strong production in CNI and construction lending, with a robust pipeline expected for the fourth quarter [72][78] Question: Are there any areas of concern regarding credit? - Management noted caution in the office lending sector and indicated a proactive approach to exiting loans with government tenants [84][86]

Financial Data and Key Metrics Changes - Glacier Bancorp reported net income of $67.9 million or $0.57 per diluted share, representing a 29% increase from the prior quarter and a 33% increase year-over-year [4][5] - Pretax pre-provision net revenues for the first nine months of the year increased by $77.1 million or 45% compared to the same period last year [5] - Net interest income rose to $225 million, up $18 million or 9% from the prior quarter and up $45 million or 25% year-over-year [6] - The net interest margin expanded to 3.39%, an increase of 18 basis points from the prior quarter and 56 basis points year-over-year [6][10] - Non-interest expense was $168 million, up $13 million or 8% from the second quarter, primarily due to acquisition-related costs [7] Business Line Data and Key Metrics Changes - The loan portfolio grew by $258 million to $18.8 billion, reflecting a 6% annualized growth from the prior quarter, with commercial real estate being a key driver [5] - Deposits increased to $22 billion, up 4% annualized from the last quarter, with non-interest bearing deposits growing by 5% [5][6] - Non-interest income totaled $35 million, up $2.4 million or 7% from the prior quarter [7] Market Data and Key Metrics Changes - The company successfully completed the core conversion of the Bank of Idaho, which had assets of approximately $1.4 billion, and closed the acquisition of Guaranteed Bank and Trust, adding $3.1 billion in assets [3][4] Company Strategy and Development Direction - The company is focused on delivering a flawless conversion of the Guaranty acquisition in 2026 and ensuring employee and customer satisfaction [4] - Management expressed optimism about future growth opportunities in Texas following the acquisition of Guaranty Bank and Trust [4][21] Management's Comments on Operating Environment and Future Outlook - Management noted strong margin expansion and loan growth, with expectations for continued growth in net interest margin into the fourth quarter [6][16] - The company anticipates a moderation in the pace of margin growth in 2026, influenced by factors such as loan and deposit growth and Federal Reserve actions [16][60] Other Important Information - The efficiency ratio remained at 62%, down from 65% a year ago, indicating improved operational efficiency [7] - The allowance for credit losses remains at 1.22% of total loans, reflecting a conservative risk management approach [8] Q&A Session Summary Question: Insights on margin expansion and future guidance - Management indicated continued improvement in margin, expecting an additional 18 to 20 basis points growth in Q4, influenced by the Guaranty acquisition [15][16] Question: Reception in the Texas market and future partnerships - Management reported a strong cultural fit with Guaranty and indicated ongoing conversations for potential partnerships in Texas [21][22] Question: Loan growth trends and competitive landscape - Management noted consistent loan demand and a competitive landscape that varies by geography, with pricing competition more pronounced in larger markets [30][33] Question: Credit quality and industry pressures - Management highlighted strong credit quality, with no significant risks outside of the agricultural sector, which is experiencing some pressures [35][36] Question: Future M&A strategy and focus areas - Management stated that they do not prioritize one market over another and will focus on successful integration before pursuing further acquisitions [64][65]

Financial Data and Key Metrics Changes - Diluted earnings per share for the current quarter was $0.48, an increase of 66% from the prior year first quarter [5] - Net income was $54.6 million for the current quarter, an increase of $21.9 million or 67% from the prior year first quarter [5] - The net interest margin for the current quarter was 3.04%, an increase of seven basis points from the prior quarter and an increase of 45 basis points from the prior year first quarter [5][6] - Total deposits increased to $20.6 billion, up $87.1 million or 2% annualized during the current quarter [7] - Total loans decreased to $17 billion, down $48 million from the prior quarter due to accelerated payoffs [7] - Noninterest income ended the quarter at $33 million, which increased 9% versus the first quarter a year ago [9] - Tangible stockholders' equity increased to $2.2 billion, up $67 million or 3% compared to the prior quarter [11] Business Line Data and Key Metrics Changes - The margin has increased for five consecutive quarters, marking the first time the margin is above 3% in the last two years [6] - The total cost of funding decreased to 1.68%, down three basis points from the prior quarter [6] - The loan yield increased to 5.77%, up five basis points from the prior quarter and up 31 basis points from the prior year first quarter [6] Market Data and Key Metrics Changes - Customers acknowledge uncertainty in the economy but have not indicated plans to pull back on projects [8] - The allowance for credit loss increased to 1.22% of total loans from 1.19% last quarter, reflecting caution in the current economic environment [10] Company Strategy and Development Direction - The company is strategically expanding its presence through acquisitions, including the proposed acquisition of Bank of Idaho, which is expected to close soon [13][14] - The company aims to maintain a strong margin trajectory independent of Federal Reserve activity, with a full-year margin guide of 3.20% to 3.25% [24] - The company is focused on finding good banks and markets to partner with, regardless of the broader M&A environment [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about future credit performance and does not expect material credit deterioration in 2025 [10] - The company is cautious in spending due to market volatility and economic uncertainties [30] - Management noted that while there is uncertainty in the economy, borrowers are still moving forward with projects [98] Other Important Information - The company declared a quarterly dividend of 33 cents per share, marking 60 consecutive quarterly dividends [12] - The company has a core noninterest expense guide for 2025 of $151 to $154 million per quarter, with adjustments for the Bank of Idaho acquisition [28][33] Q&A Session Summary Question: Margin discussion and structural margin progression - Management confirmed that structural drivers for margin growth are still in place, with expectations for continued growth throughout the year [20][24] Question: Bank of Idaho deal and expected margin contribution - The Bank of Idaho is expected to contribute four basis points of margin lift to the organization [26] Question: Expense guidance and performance-based compensation - Core noninterest expense for the first quarter was reported at $151.3 million, slightly below the guidance [29] Question: M&A discussions in Southwest markets - Management confirmed ongoing conversations in the Southwest and Mountain West regions for potential M&A opportunities [36][38] Question: Spot rate on deposits and average margin - The spot rate at March 31 was 1.24%, and the margin for March was 3.05% [44] Question: Nonaccruals and credit issues - Nonaccruals were centered in one relationship, with no expected loss [46] Question: Impact of tariffs on construction activity - Customers are managing costs related to tariffs, and there is no significant distress reported [49][50] Question: FHLB borrowings and balance sheet expectations - Management outlined the schedule for FHLB borrowings maturing throughout the year and indicated cash flow will primarily be used to pay down these borrowings [59][60] Question: Competitive landscape and loan yields - The company maintains good spreads on production and has not seen irrational underwriting practices [100][101]

Financial Data and Key Metrics Changes - The company reported net income of $22.4 million for Q1 2025, translating to $0.77 per share, indicating a solid start despite economic uncertainties [4] - Net loan growth was $6.5 million, impacted by larger payoffs, while deposits decreased by $100.8 million primarily due to seasonal declines in public funds [5] - The net interest margin (NIM) improved to 3.09% from 2.88% in Q4 2024, reflecting effective loan pricing discipline [5][7] - Nonperforming assets to total assets increased slightly by 2 basis points to 43 basis points, with net charge-offs remaining low at 10 basis points annualized [6] Business Line Data and Key Metrics Changes - Noninterest income decreased by $3.2 million or 12.4% compared to the previous quarter, with a notable decline in contingent income from the insurance line [8] - Noninterest expense decreased by $746,000 or 1.5%, demonstrating the company's focus on prudent expense management [9] Market Data and Key Metrics Changes - The company observed a cautious approach from commercial customers due to uncertainties surrounding tariffs, taxes, and interest rates, impacting loan growth [5] Company Strategy and Development Direction - The company plans to continue stock buybacks, having repurchased 221,760 shares during the quarter, and aims to maintain a disciplined approach to capital deployment [6][16] - The management maintains a loan-to-deposit ratio target of 95% to 105%, acknowledging the seasonal fluctuations in public funds [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating uncertainties in the economic environment and highlighted a solid first quarter performance [20] - The company expects fee income growth in the mid-single digits for the year, contingent on mortgage banking performance [11] Other Important Information - The Board of Directors announced a $0.01 increase in the quarterly dividend to $0.22 per share, reflecting the company's commitment to returning capital to shareholders [6] Q&A Session Summary Question: Fee income growth expectations - Management confirmed guidance for fee income growth at 4% to 6% for the year, with mortgage banking performance being a potential driver [11] Question: Loan to deposit ratio trends - Management indicated a long-term target of 95% to 100% for the loan-to-deposit ratio, acknowledging the cyclical nature of public funds [12][13] Question: Capital returns and buybacks - Management discussed the potential for continued stock buybacks, emphasizing a cautious approach based on earnings projections and regulatory capital ratios [15][16]