From GlobeNewswire:

Glacier Bancorp, Inc. reported a 4% increase in net income for the fourth quarter of 2023, with interest income increasing by 3%. The loan portfolio also increased by 2% annualized. The company also announced its plan to acquire Community Financial Group, Inc., parent company of Wheatland Bank, expected to be completed on January 31, 2024.

Overall, the year 2023 saw a 26% decrease in net income for Glacier Bancorp, Inc. The loan portfolio increased by 6%, and interest income increased by 23% from the prior year. The company declared dividends of $1.32 per share.

The Company will expand after acquiring Wheatland Bank by January 31, 2024. The report shows the financial statistics for Glacier Bancorp, Inc., including data for the past eight quarters. This includes net income, earnings per share, market value per share, and the number of full-time equivalent employees, locations, and ATMs.

Glacier Bancorp, Inc.’s financial summary and asset summary showed a decrease in debt securities while residential and commercial real estate loans increased. The allowance for credit losses increased to $192,757 in 2023.

Despite a decrease in overall non-performing assets, early stage delinquencies increased from the prior quarter and the prior year end. The credit loss expense in the fourth quarter was $3.0 million, with the allowance for credit losses on loans standing at 1.19%. This report also shows the provision for credit losses on the loan portfolio, comparing the previous and current year.



Read more: Glacier Bancorp, Inc. Announces Results for the Quarter and