NYSE$GBCI
Glacier Bancorp Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Glacier Bancorp's financial performance decreased due to increased funding costs but showed positive business trends.
Glacier Bancorp reported a net income of $54.3 million for Q4 2023, a decrease of 32% compared to the prior year's fourth quarter. The decrease was primarily due to increased funding costs outpacing interest income. However, the company saw positive business trends developing across its divisions and is well-positioned for growth in 2024.
- Net income was $54.3 million, a 4% increase from the prior quarter, but decreased 32% from the prior year fourth quarter.
- Interest income increased to $273 million, up 3% from the prior quarter and 22% from the prior year fourth quarter.
- The loan portfolio increased to $16.198 billion, reflecting a 2% annualized growth during the quarter.
- Non-performing assets decreased to $25.6 million, a 39% decrease over the prior quarter and 22% decrease over the prior year end.
Headline financials
Revenue & EPS history
Glacier · Revenue · Quarterly
$166M
Revenue by segment
Glacier · $165M total across 2 segments · Q4 2019
- Net Interest Income$136M—82.8%
- Non-Interest Income$28.4M—17.2%
Forward guidance
Glacier Bancorp expects to grow in 2024 and beyond. The company's agreement to acquire Community Financial Group, Inc. is expected to be completed January 31, 2024.
Tailwinds
- Positive business trends developing in all Divisions.
- Well positioned to grow in 2024 and beyond
- Acquisition of Community Financial Group, Inc. expected to be completed January 31, 2024.
- Strong cash position of $1.354 billion.
- Available liquidity of $15.0 billion including cash, borrowing capacity from the FHLB and Federal Reserve facilities, unpledged securities, brokered deposits, and other sources.
Headwinds
- Risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio
- Changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity
- Legislative or regulatory changes, including increased FDIC insurance rates and assessments or increased banking and consumer protection regulations, that may adversely affect the Company’s business
- Risks related to overall economic conditions, including the impact on the economy of a rising interest rate environment, inflationary pressures, and geopolitical instability, including the wars in Ukraine and the Middle East
- Risks associated with the Company’s ability to negotiate, complete, and successfully integrate any future acquisitions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.4%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+2.8%
Avg return
30 days after
46%
32 / 69 earnings
Positive
+6.6%
Q2 2018
Best reaction
-8.8%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.1% | -2.5% | -3.5% | |
| Q4 2025 | -3.7% | -1.8% | +1.3% | |
| Q3 2025 | -2.6% | -4.6% | -6.0% | |
| Q2 2025 | -1.6% | -0.4% | +6.0% | |
| Q1 2025 | -4.2% | -4.4% | -4.6% | |
| Q4 2024 | -1.5% | -4.8% | -7.5% | |
| Q3 2024 | +5.2% | +11.6% | +23.8% | |
| Q2 2024 | -2.4% | +2.5% | -0.9% | |
| Q1 2024 | +6.1% | +10.3% | +12.8% | |
| Q4 2023 | +3.4% | +1.3% | -10.1% | |
| Q3 2023 | -1.9% | -3.1% | +11.1% | |
| Q2 2023 | -8.6% | -7.6% | -12.0% | |
| Q1 2023 | -8.8% | -15.7% | -26.6% | |
| Q4 2022 | -2.5% | -2.1% | +2.0% | |
| Q3 2022 | -0.3% | -0.7% | +8.7% | |
| Q2 2022 | -3.1% | -1.7% | +8.3% | |
| Q1 2022 | -0.9% | -3.0% | -5.4% | |
| Q4 2021 | -4.7% | -3.5% | +2.1% | |
| Q3 2021 | +2.5% | -0.3% | +5.4% | |
| Q2 2021 | -2.4% | -3.0% | +1.9% | |
| Q1 2021 | +3.7% | +3.2% | +0.0% | |
| Q4 2020 | -3.1% | +3.0% | +12.6% | |
| Q3 2020 | +5.3% | +2.4% | +18.8% | |
| Q2 2020 | +3.5% | -0.5% | +0.0% | |
| Q1 2020 | +2.9% | +15.4% | +22.1% | |
| Q4 2019 | -0.7% | -2.3% | -2.5% | |
| Q3 2019 | +4.6% | +5.0% | +7.5% | |
| Q2 2019 | +1.3% | +1.7% | +3.2% | |
| Q1 2019 | -3.6% | -1.6% | -3.8% | |
| Q4 2018 | -0.4% | -0.7% | +4.2% | |
| Q3 2018 | -1.8% | -3.8% | +9.0% | |
| Q2 2018 | +6.6% | +9.4% | +11.0% | |
| Q1 2018 | -0.5% | +2.7% | +4.4% | |
| Q4 2017 | +1.6% | -0.2% | +2.4% | |
| Q3 2017 | +0.6% | -0.2% | +0.1% | |
| Q2 2017 | -1.6% | +1.2% | -7.2% | |
| Q1 2017 | +1.3% | +4.4% | -1.4% | |
| Q4 2016 | -0.5% | -2.1% | +1.8% | |
| Q3 2016 | +0.1% | -0.0% | +20.1% | |
| Q2 2016 | -0.2% | -0.1% | +3.8% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +3.2% | — | — | |
| Q3 2015 | +3.3% | — | — | |
| Q2 2015 | -4.4% | — | — | |
| Q1 2015 | +0.9% | — | — | |
| Q4 2014 | -5.8% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | +0.4% | — | — | |
| Q4 2013 | -4.7% | — | — | |
| Q3 2013 | +3.2% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | +2.5% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | -0.1% | — | — | |
| Q1 2012 | +1.7% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q3 2011 | -4.7% | — | — | |
| Q2 2011 | -7.9% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q1 2010 | +0.5% | — | — | |
| Q4 2009 | +0.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q4 2008 | +0.5% | — | — | |
| Q3 2010 | -2.8% | — | — | |
| Q3 2009 | -2.8% | — | — | |
| Q2 2010 | +1.8% | — | — | |
| Q2 2009 | +1.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro