Glacier Bancorp, Inc. (GBCI) Fourth Quarter 2024 Earnings Conference Call Transcript

Glacier Bank Corporation (NYSE:GBCI) 2024 Fourth Quarter Earnings Conference Call January 24, 2025 11:00 AM ET

corporate participants

Randy Chesler – President and CEO
Byron Pollan – Treasurer
Tom Dolan – Chief Credit Administrator
Ron Cofer – Chief Financial Officer

conference call participants

Jeff Ruless-DA Davidson
Matthew Clark – Piper Sandler
David Feist – Raymond James
Andrew Terrell-Stephens
Kelly Motta – KBW

operator

Have a great day and thank you for your support. Welcome to Glacier Bancorp’s fourth quarter earnings conference call. At this point, all participants are in listen-only mode. After the speaker’s presentation, there will be a question and answer session. [Operator Instructions] Please note that today’s session is being recorded.

Now I’d like to turn the call over to today’s speaker, Randy Chesler, President and CEO. Please continue.

Randy Chesler

Good morning and thank you for joining us today. Joining me in Kalispell are Ron Copher, our chief financial officer; Byron Pollan, our treasurer; and Tom Dolan, our chief credit administrator. I would like to note that today’s discussion is influenced by the same forward-looking considerations outlined beginning on page 14 of our press release, and we encourage you to review this section.

Overall, the Glacier team had a very strong fourth quarter and full year. The positive trend of margin expansion driven by higher interest income and lower deposit costs continued in the fourth quarter. Credit performance continues to be very good and we believe we are well positioned for strong growth in 2025.

Diluted earnings per share for this quarter were US$0.54, a 20% increase from the previous quarter’s diluted earnings per share of US$0.45, and a 10% increase from the fourth quarter of last year. Net profit for the quarter was US$61.8 million, an annual increase