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Sep 30, 2022
Glacier Q3 2022 Earnings Report
Glacier Bancorp's financial performance increased due to organic and acquisition growth.
Key Takeaways
Glacier Bancorp reported a net income of $79.3 million for the quarter ended September 30, 2022, a 5% increase compared to the same quarter last year. The increase was driven by the acquisition of Altabancorp and organic loan growth.
Net income was $79.3 million, a 5% increase from the prior year third quarter.
Loan portfolio, excluding PPP loans, grew by $457 million, or 13% annualized.
Core deposits increased by $96.0 million, or 2% annualized.
Net interest margin was 3.34%, compared to 3.23% in the prior quarter.
Glacier
Glacier
Forward Guidance
Glacier Bancorp is well prepared for an economic downturn and remains confident in the markets they serve and the quality of their loan portfolio.