Glacier Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017
January 25, 2018 at 04:37 pm
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Glacier Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income was $96,898,000 against $87,759,000 a year ago. Net interest income was $89,826,000 against $80,545,000 a year ago. Income before income taxes was $46,283,000 against $40,703,000 a year ago. GAAP net income was $14,956,000 against $31,041,000 a year ago. Diluted earnings per share (GAAP) was $0.19 against $0.41 reported a year ago. NON-GAAP net income was $34,655,000 against $31,041,000 a year ago. Diluted earnings per share (GAAP) was $0.44 against $0.41 reported a year ago. Return on average assets (annualized) (GAAP) was 0.61% against 1.33% reported a year ago. Return on average assets (annualized) (NON-GAAP) was 1.42% against 1.33% reported a year ago. Return on average equity (annualized) (GAAP) was 4.91% against 10.82% reported a year ago. Return on average equity (annualized) (NON-GAAP) was 11.38% against 10.82% reported a year ago.
For the full year, the company reported total interest income was $375,022,000 against $344,153,000 a year ago. Net interest income was $345,158,000 against $314,522,000 a year ago. Income before income taxes was $181,002,000 against $160,793,000 a year ago. GAAP net income was $116,377,000 against $121,131,000 a year ago. Diluted earnings per share (GAAP) was $1.50 against $1.59 reported a year ago. NON-GAAP net income was $136,076,000 against $121,131,000 a year ago. Diluted earnings per share (GAAP) was $1.75 against $1.59 reported a year ago. Return on average assets (annualized) (GAAP) was 1.20% against 1.32% reported a year ago. Return on average assets (annualized) (NON-GAAP) was 1.41% against 1.32% reported a year ago. Return on average equity (annualized) (GAAP) was 9.80% against 10.79% reported a year ago. Return on average equity (annualized) (NON-GAAP) was 11.46% against 10.79% reported a year ago.
Net charge-offs for the current quarter were $2.9 million compared to $3.6 million for the prior quarter and $4.1 million from the same quarter last year.
Glacier Bancorp, Inc. is the parent company for Glacier Bank and its bank divisions. The Company provides a range of banking services to individuals and businesses from 221 locations in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona and Nevada through its wholly owned bank subsidiary, Glacier Bank (Bank). It offers a range of banking products and services, including retail banking, business banking, real estate, commercial, agriculture and consumer loans, and mortgage origination and loan servicing. It serves individuals, small to medium-sized businesses, community organizations and public entities. Its bank divisions include Glacier Bank (Kalispell, Montana), First Security Bank of Missoula (Missoula, Montana), Valley Bank of Helena (Helena, Montana), First Security Bank (Bozeman, Montana), Western Security Bank (Billings, Montana), First Bank of Montana (Lewistown, Montana), First Community Bank Utah (Layton, Utah), Mountain West Bank (Coeur dâAlene, Idaho) and others.
Glacier Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017