GLACIER BANCORP, INC. GBCI Income Statement

Glacier bancorp, inc. (GBCI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest Income
Investment securities
21,014	20,904	21,357	21,892	21,351	22,016	21,971	22,370	20,142	18,663	19,987	21,379	21,939	21,645	21,827	23,037	23,883	23,731	22,437	21,959	22,959	22,050	22,794	23,893	24,315	23,489	19,473	17,351	14,199	13,887	15,156	17,454	19,889	19,261	20,634	20,218	16,149	13,680	14,403	14,674	14,253	13,211	11,810
Residential real estate loans
11,526	12,554	12,156	11,410	10,779	10,751	10,356	10,149	8,785	8,520	8,326	8,350	7,918	8,463	8,538	8,124	8,285	8,572	7,878	7,942	7,761	8,464	7,950	7,220	7,087	7,919	7,320	7,026	7,260	7,831	7,740	7,495	7,784	8,198	7,990	8,156	8,716	10,780	11,367	11,421	11,833	13,330	13,871
Commercial loans
98,684	100,301	97,224	88,043	83,539	82,238	80,587	75,824	65,515	61,329	59,875	56,182	49,970	49,750	47,694	47,002	44,503	43,109	42,137	40,698	39,022	37,935	37,387	35,267	35,042	34,662	34,291	29,865	28,632	29,661	30,293	30,430	31,041	31,629	32,585	32,977	33,058	34,452	35,734	37,003	36,672	36,739	37,597
Consumer and other loans
11,641	11,522	11,658	11,040	10,447	10,305	9,991	9,372	8,624	8,386	8,276	8,121	7,801	7,901	7,885	7,906	7,710	7,799	7,915	8,018	7,744	7,730	7,559	7,583	7,643	7,869	8,447	7,909	7,864	8,287	8,826	8,813	9,170	9,653	10,224	10,211	10,450	10,171	10,599	10,720	10,640	11,150	11,142
Total interest income
142,865	145,281	142,395	132,385	126,116	125,310	122,905	117,715	103,066	96,898	96,464	94,032	87,628	87,759	85,944	86,069	84,381	83,211	80,367	78,617	77,486	76,179	75,690	73,963	74,087	73,939	69,531	62,151	57,955	59,666	62,015	64,192	67,884	68,741	71,433	71,562	68,373	69,083	72,103	73,818	73,398	74,430	74,420
Interest Expense
Deposits
5,581	6,101	6,214	5,624	5,341	4,989	4,837	4,617	3,916	3,288	4,564	4,501	4,440	4,497	4,550	4,560	4,795	3,932	3,947	4,112	4,147	4,018	3,027	3,061	3,089	3,286	3,398	3,474	3,712	4,135	4,485	4,609	4,954	5,379	6,218	6,584	7,088	7,903	9,142	9,222	9,331	9,232	9,433
Securities sold under agreements to repurchase
989	1,007	999	886	802	707	570	486	485	496	537	443	382	325	289	275	318	287	261	232	241	238	225	192	210	221	209	210	227	311	395	303	299	320	357	319	357	380	412	399	416	447	409
Federal Home Loan Bank advances
346	86	2,035	3,847	3,055	2,146	2,132	2,513	2,089	2,106	1,398	1,734	1,510	1,377	1,527	1,665	1,652	2,156	2,273	2,217	2,195	2,253	2,356	2,447	2,514	2,581	2,730	2,648	2,651	2,851	3,116	3,218	3,381	3,555	3,491	3,093	2,548	2,440	2,318	2,454	2,311	2,087	1,852
Other borrowed funds
128	92	47	38	38	-10	63	26	16	24	21	19	15	18	17	14	18	18	21	15	27	64	34	48	53	46	54	54	52	53	53	61	62	69	60	62	33	42	26	26	190	394	569
Subordinated debentures
1,452	1,547	1,652	1,694	1,668	1,604	1,558	1,519	1,268	1,158	1,132	1,077	1,019	997	935	910	892	822	807	793	772	795	788	780	774	795	795	799	816	815	858	853	902	874	1,171	1,273	1,643	1,655	1,683	1,648	1,636	1,641	1,676
Total interest expense
8,496	8,833	10,947	12,089	10,904	9,436	9,160	9,161	7,774	7,072	7,652	7,774	7,366	7,214	7,318	7,424	7,675	7,215	7,309	7,369	7,382	7,368	6,430	6,528	6,640	6,929	7,186	7,185	7,458	8,165	8,907	9,044	9,598	10,197	11,297	11,331	11,669	12,420	13,581	13,749	13,884	13,801	13,939
Net Interest Income
134,369	136,448	131,448	120,296	115,212	115,874	113,745	108,554	95,292	89,826	88,812	86,258	80,262	80,545	78,626	78,645	76,706	75,996	73,058	71,248	70,104	68,811	69,260	67,435	67,447	67,010	62,345	54,966	50,497	51,501	53,108	55,148	58,286	58,544	60,136	60,231	56,704	56,663	58,522	60,069	59,514	60,629	60,481
Credit loss expense
22,744	0	0	0	57	1,246	3,194	4,718	795	2,886	3,327	3,013	1,598	1,139	626	0	568	411	826	282	765	191	360	239	1,122	1,802	1,907	1,078	2,100	2,275	2,700	7,925	8,625	8,675	17,175	19,150	19,500	27,375	19,162	17,246	20,910	47,050	25,140
Net interest income after credit loss expense
111,625	136,448	131,448	120,296	115,155	114,628	110,551	103,836	94,497	86,940	85,485	83,245	78,664	79,406	78,000	78,645	76,138	75,585	72,232	70,966	69,339	68,620	68,900	67,196	66,325	65,208	60,438	53,888	48,397	49,226	50,408	47,223	49,661	49,869	42,961	41,081	37,204	29,288	39,360	42,823	38,604	13,579	35,341
Non-Interest Income
Service charges and other fees
14,020	14,756	15,138	20,025	18,015	19,708	19,504	18,804	16,871	17,282	17,307	17,495	15,633	15,645	16,307	15,772	14,681	15,868	15,357	15,062	12,999	15,958	14,319	13,547	12,219	13,363	13,711	11,818	10,586	11,621	11,939	11,291	10,492	11,093	11,563	11,330	10,208	10,923	11,956	10,641	9,520	10,604	10,215
Miscellaneous loan fees and charges
1,285	1,379	1,775	1,192	967	1,278	1,807	2,243	1,477	1,077	1,211	1,092	980	1,234	1,195	1,163	1,021	922	1,055	1,142	1,157	1,125	1,342	1,200	1,029	1,332	1,408	1,153	1,089	1,224	1,080	1,113	946	1,041	973	928	977	1,255	1,266	1,259	1,126	1,499	1,162
Gain on sale of loans
11,862	10,135	10,369	7,762	5,798	5,639	7,256	8,142	6,097	7,408	9,141	7,532	6,358	9,765	9,592	8,257	5,992	6,033	7,326	7,600	5,430	5,424	6,000	4,778	3,595	4,935	7,021	7,472	9,089	9,164	8,728	7,522	6,813	7,026	5,121	4,291	4,694	9,842	7,367	6,133	3,891	5,613	9,071
Gain on sale of debt securities
863	257	13,811	134	213	-357	-367	-56	-333	-115	77	-522	-100	-757	-594	-220	108	143	-31	-98	5	-28	-61	-48	-51	0	-403	241	-137	0	0	0	0	0	813	-591	124	2,225	2,041	242	314	2,667	-
Other income
5,242	1,890	1,956	1,721	3,481	2,226	4,216	2,695	1,974	2,057	3,449	2,059	2,818	2,127	1,793	1,787	2,450	1,501	2,092	2,096	3,102	1,499	2,832	3,027	2,596	3,372	2,136	2,538	2,323	3,384	2,227	1,865	2,087	2,857	2,466	1,893	1,392	1,715	1,355	3,143	1,332	1,317	870
Total non-interest income
33,272	28,417	43,049	30,834	28,474	28,494	32,416	31,828	26,086	27,709	31,185	27,656	25,689	28,014	28,293	26,759	24,252	24,467	25,799	25,802	22,693	23,978	24,432	22,504	19,388	23,002	23,873	23,222	22,950	25,393	23,974	21,791	20,338	22,017	20,936	17,851	17,395	25,960	23,985	21,418	16,183	21,700	21,318
Non-Interest Expense
Compensation and employee benefits
59,660	55,543	62,509	51,973	52,728	50,385	49,927	49,023	45,721	40,465	41,297	39,498	39,246	38,826	38,370	37,560	36,941	35,875	33,534	32,729	32,244	30,807	30,142	28,988	28,634	27,258	27,469	24,917	24,577	24,083	24,046	23,684	23,560	21,311	21,607	21,170	21,603	22,485	22,235	21,652	21,356	20,935	20,710
Occupancy and equipment
9,219	9,149	8,731	8,180	8,437	7,884	7,914	7,662	7,274	6,925	6,500	6,560	6,646	6,692	6,168	6,443	6,676	6,556	6,435	6,432	6,060	2,411	6,961	6,733	6,613	6,723	6,421	5,906	5,825	6,043	6,001	5,825	5,968	5,890	6,027	5,728	5,954	6,291	6,034	5,988	5,948	5,835	5,611
Advertising and promotions
2,487	2,747	2,719	2,767	2,388	2,434	2,432	2,530	2,170	2,024	2,239	2,169	1,973	2,125	2,098	2,085	2,125	2,035	2,459	2,240	1,927	2,046	2,141	1,948	1,777	1,847	1,897	1,621	1,548	1,478	1,820	1,713	1,402	1,588	1,762	1,635	1,484	1,683	1,912	1,644	1,592	1,596	1,722
Data processing
5,282	4,972	4,466	4,062	3,892	3,951	3,752	4,241	3,967	3,970	3,647	3,409	3,124	3,097	3,982	3,938	3,373	3,012	2,710	2,971	2,551	6,595	1,472	2,032	1,288	1,623	1,232	813	825	889	801	788	846	849	740	791	773	852	750	761	694	830	680
Other real estate owned
112	609	166	191	139	264	2,674	211	72	377	817	442	273	2,076	215	214	390	511	1,047	1,377	758	893	602	566	507	2,295	1,049	2,968	884	3,570	6,373	2,199	6,822	12,896	7,198	5,062	2,099	2,847	9,655	7,373	2,318	2,881	2,321
Regulatory assessments and insurance
1,090	45	593	1,848	1,285	1,263	1,277	1,329	1,206	1,069	1,214	1,087	1,061	1,048	1,158	1,066	1,508	1,494	1,478	1,006	1,305	1,009	1,435	1,028	1,592	1,519	1,677	1,525	1,641	2,534	1,767	1,300	1,712	3,424	1,638	2,197	2,324	2,123	2,633	2,165	2,200	1,699	3,832
Loss on termination of hedging activities
-	-	13,528	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Core deposit intangibles amortization
2,533	2,566	2,360	1,865	1,694	1,731	1,735	1,748	1,056	614	640	639	601	608	777	788	797	758	720	755	731	716	692	693	710	717	693	505	486	491	532	535	552	557	599	590	727	758	801	801	820	758	762
Goodwill impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,159	-	-	-	-	-	-	-	-
Other expenses
11,545	19,621	15,603	15,284	12,267	13,964	13,118	15,051	12,161	12,922	12,198	11,505	10,420	12,245	12,412	12,367	10,546	11,962	10,729	12,435	9,921	11,221	10,793	10,685	8,949	11,052	9,930	10,226	7,648	8,920	8,838	10,146	8,183	8,615	8,568	9,047	7,512	8,697	7,995	7,852	7,033	7,362	7,325
Total non-interest expense
91,928	95,252	110,675	86,170	82,830	81,876	82,829	81,795	73,627	68,366	68,552	65,309	63,344	66,717	65,180	64,461	62,356	62,203	59,112	59,945	55,497	55,698	54,238	52,673	50,070	53,034	50,368	48,481	43,434	48,008	50,178	46,190	49,045	55,130	88,298	46,220	42,476	45,736	52,015	48,236	41,961	41,896	42,963
Income Before Income Taxes
52,969	69,613	63,822	64,960	60,799	61,246	60,138	53,869	46,956	46,283	48,118	45,592	41,009	40,703	41,113	40,943	38,034	37,849	38,919	36,823	36,535	36,900	39,094	37,027	35,643	35,176	33,943	28,629	27,913	26,611	24,204	22,824	20,954	16,756	-24,401	12,712	12,123	9,512	11,330	16,005	12,826	-6,617	13,696
Federal and state income tax expense
9,630	12,203	12,212	12,568	11,667	11,647	10,802	9,485	8,397	31,327	11,639	11,905	9,754	9,662	10,156	10,492	9,352	8,341	9,305	7,488	8,865	8,846	9,800	8,350	8,913	8,630	8,315	5,927	7,145	5,853	4,760	3,843	4,621	2,408	-5,353	826	1,838	-81	1,885	2,783	2,756	-5,086	3,044
Net Income
43,339	57,410	51,610	52,392	49,132	49,599	49,336	44,384	38,559	14,956	36,479	33,687	31,255	31,041	30,957	30,451	28,682	29,508	29,614	29,335	27,670	28,054	29,294	28,677	26,730	26,546	25,628	22,702	20,768	20,758	19,444	18,981	16,333	14,348	-19,048	11,886	10,285	9,593	9,445	13,222	10,070	-1,531	10,652
Basic earnings per share
0.46	0.63	0.57	0.61	0.58	0.59	0.58	0.53	0.48	0.19	0.47	0.43	0.41	0.41	0.40	0.40	0.38	0.39	0.39	0.39	0.37	0.37	0.40	0.38	0.36	0.36	0.35	0.31	0.29	0.29	0.27	0.26	0.23	0.20	-0.27	0.17	0.14	0.13	0.13	0.19	0.16	-0.03	0.17
Diluted earnings per share
0.46	0.62	0.57	0.61	0.58	0.59	0.58	0.52	0.48	0.19	0.47	0.43	0.41	0.41	0.40	0.40	0.38	0.39	0.39	0.39	0.37	0.37	0.40	0.38	0.36	0.36	0.35	0.31	0.29	0.29	0.27	0.26	0.23	0.20	-0.27	0.17	0.14	0.13	0.13	0.19	0.16	-0.03	0.17
Dividends declared per share
0.29	0.49	0.29	0.27	0.26	0.56	0.26	0.26	0.23	0.21	0.51	0.21	0.21	0.50	0.20	0.20	0.20	0.49	0.19	0.19	0.18	0.48	0.17	0.17	0.16	0.16	0.15	0.15	0.14	0.14	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13
Average outstanding shares - basic
93,287	92,350	90,294	85,826	84,549	84,572	84,518	84,514	80,808	78,027	78,004	77,546	76,572	76,528	76,288	76,170	76,126	75,900	75,531	75,530	75,206	75,031	74,631	74,467	74,437	74,375	73,945	72,480	71,965	71,937	71,933	71,928	71,915	71,915	71,915	71,915	71,915	72,040	71,915	71,913	62,763	61,519	61,515
Average outstanding shares - diluted
93,359	92,621	90,449	85,858	84,614	84,669	84,593	84,559	80,887	78,138	78,065	77,592	76,633	76,637	76,350	76,205	76,173	75,985	75,586	75,565	75,244	75,092	74,676	74,499	74,480	74,457	74,021	72,548	72,013	71,896	71,973	71,928	71,915	71,915	71,915	71,915	71,915	72,048	71,915	71,914	62,763	61,519	61,518