The following is a summary of the Glacier Bancorp, Inc. (GBCI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Glacier Bancorp reported strong financial performance in Q3 2024, with a net income of $51 million, marking a 14% increase from the previous quarter.

• Earnings Per Share (EPS) grew by 15% to $0.45, primarily driven by rising interest income and higher non-interest income.

• Net Interest Margin expanded by 15 basis points, standing at 2.83% for the third quarter.

• Net interest income saw an 8% rise from the previous quarter, reaching $180 million.

• The loan portfolio grew organically by 1% annually, with total loans amounting to $17.1 billion, a quarterly increase of $329 million.

• Non-interest income increased by 8% over the previous quarter, totaling $34.7 million.

Business Progress:

• During the quarter, Glacier Bancorp finalized the acquisition of 6 Montana branches from Heartland Financial's Rocky Mountain Bank division, adding $403 million in assets.

• As part of their growth and integration strategy, these branches were converted to Glacier systems promptly after the closure of the deal.

• Further exemplifying progress, the company also boosted its tangible stockholders' equity by 3% to $2.1 billion, mainly due to a decrease in unrealized loss on available-for-sale debt securities and despite the increase in goodwill from the acquisitions.

Opportunities:

• The acquisitions throughout the year represent a significant opportunity for Glacier Bancorp to increase its market presence and asset base, which now totals approximately $1.2 billion from the year's acquisitions.

Risks:

• Organic growth factors such as non-interest-bearing deposits are expected to be flat to slightly down in the upcoming quarter, indicating potential volatility in core financial growth drivers.

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