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Dec 31, 2021
Glacier Q4 2021 Earnings Report
Glacier Bancorp reported a decrease in net income due to credit loss expense and acquisition-related expenses, but experienced strong net interest income and loan growth.
Key Takeaways
Glacier Bancorp reported a net income of $50.7 million for Q4 2021, a decrease of 38% compared to the prior year's fourth quarter. The decrease was primarily driven by credit loss expense and acquisition-related expenses from the Altabank acquisition. However, the company experienced strong net interest income and loan growth during the quarter.
Net interest income, excluding PPP loans, increased 19% over the prior quarter.
The loan portfolio, excluding PPP loans, organically grew 16% annualized.
Core deposits organically increased 13% annualized.
The company completed the acquisition of Altabancorp.
Glacier
Glacier
Forward Guidance
All Divisions across the West are extremely well positioned to thrive in 2022.