GBCI - Earnings call transcript Q1 2018

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Operator

Good day, ladies and gentlemen, and welcome to the Glacier Bancorp First Quarter Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to Randy Chesler, President and CEO. Please go ahead.

Randall Chesler

All right. Ayla. you, Thank and morning, for us joining Well, thank today. good you our in With Chief and Chery, our Barry Principal Kalispell McCarthy, Angela on and Controller. Credit here our Financial Administrative Chief Johnston, the Don Accounting our morning Dose, Copher, this me Administrator; Officer; Ron phone Officer; Don Officer; Chief our is Yesterday, our we first released quarter XXXX results. our history. off start in one of Overall, good what company's the very the busiest to company in a got quarters was $X.X of million, XX%, were $XX.X increase Earnings year an first the a or quarter million, over ago. million Notably, was prior the income of pretax increase quarter. $X.X first or $XX the for over quarter, XX% an million year

During for assets $XXX acquisition the Collegiate million. of holding Peaks the Bank Denver we company total the in completed with of Columbine quarter, the Capital, area,

quarter. $XX.X almost coming of Inter-Mountain and core of from important from holding assets of the acquisition an $XXX total growth for million XX% Montana $XX We the in increase XX% Diluted company Security the were growth activity, of with had deposits. the total assets million increase or area, X% all had first Bank the and $X of the with earnings billion, $XXX billion X% also We at business quarter. completed Bancorp, annualized, billion. easily or milestone an surpassed the prior we billion quarter increase With in also from we prior share Bozeman, $X.XX, annualized, noninterest-bearing the ended this organic of deposit or $X.X XX% of of First year per

by XX.X%, This per XXX was average basis quarter. of $X.XX $X.XX for or on the assets on was from the dividend which divisions. commercial all paid represent an our was the the and company. We share, increased regular points, was was $XXX this share increases the $XXX was among a XX.X%. which across-the-board the These our were is return quarterly expectations. while quarter equity was downs our prior which over be dividend estate, million, prior loan return the $XX first for declared on strong Pay Loan quarter per a increase million which with The largest of distributed tangible real organically will equity increase with return category consecutive average year. or XXXnd consistent X%. million, XX% Our quarter production well generally

loan the million was year XX% to $XXX XX% assets of The addition first from the $XXX decreased due end to current commercial loans, by driven or X% year-end acquired million growth quarter of the the primarily at or of and prior at $X.X which first quarter-end. of X% primarily estate portfolio million XX% quarter total year at quarter. $XXX XX%. quarter from the was current $XXX or Foothills This the during Excluding real increased or in $XXX first billion acquisition the increased and since securities acquisitions increase and Investment current million of the Bank, compared XX% quarter banks. quarter the the prior increased XXXX. of Investment million securities represented the

year-end two of basis basis from Our a assets coming prior was points assets loans Nonperforming was which prior quarter of a million, points increased. Early-stage basis and quarter points, the X.XX%, first an year-end key percentage of this absolute for XX at Early-stage quarter-end credit million and percentage year $X.X prior generally XX The while -- from the $XX from was and were quarter, points eight the the they delinquency loans as from million year basis a end on were losses banks. as from the not $X.X of from These a do a of a the result, outstanding at of loans were added increased or which improved of year from end the $XX the XX the percentage addition quarter. acquired quarter. decrease end points increase allowance. of basis. XX% of from a the basis of fair-value the as quality as points, attributable and basis million at of were majority of of the with by dollars of points from assets quarter-end increase This the first the and at end to ratios decrease this the at prior the the XX end decrease XXXX. of from decrease delinquencies the lease were were year-end the And credit-challenged new four of at X.XX% assets a first a loan subsidiary quarter million Nonperforming primarily XXXX, an increases acquisitions the prior the increase acquired at portfolio of a require basis they an $X.X ago. driven new to quarter total banks. decrease was the quarter also the allowance as

our asset credit type and We about -- limits good performance, to continue continue manage to appetite the our outlook. carefully feel portfolio review

moved strategy our during We continued balance assets the on our back Moving for XXXX. through multistate million to below that deposits, low-cost of company. of end transferred sheet the as the $XX were deposits to stable-funding on quarter to billion our stay footprint total current and $XXX part balance of sheet previously our off across the in to foundation perform

sheet, increased X% from quarter, prior core Now excluding the or quarter. $XXX million moved acquisitions back from X% increased million the the or still and the the deposits first prior year and $XXX to on deposits balance

well. XXXX commercial strong driven from increased expense, quarter. noninterest-bearing from million or Interest or the first increased year quarter from quarter. on XX basis prior in $XX.X from the and year prior the compared that XX Current increased interest the XX% of $XXX from balance income increased or current quarter. the the or primarily increased that to $XX.X from first increased a total from sheet quarter of $XXX for income acquisitions, commercial and prior two X% by the higher-cost year loans or prior as were for primarily ago. loans, back year $XXX was production X% to quarter million X%, over XX increase million The quarter increases the driven million quarter first prior on deposits these quarter. prior income, increases of points or rate million, increased Interest prior first attributable prior Excluding XX% or by $X.X Both $XXX,XXX quarter to interest point year from basis during million quarter the The brought the increased the XX% the deposits and cost quarter. the was -- $X.X million, current $XXX,XXX of the funding points basis and

on $XXX,XXX from number $XXX,XXX year decreased of XX% $X.X the the of an from prior million accounts. and over quarter of basis higher-yielding first last continue X.XX% quarter job, X% earning the specific is point and our Gain current decrease stable from decrease funding or during tightly costs Service quarter quarter. to quarter. quarter, net from and acquisitions managing the prior to the $XX.X the of to increased decrease compared their and from due a quarter million federal from the during the the tax-equivalent result current quarter importantly, Gain though the decrease the act. result quarter margin expense in increase generally assets from fourth $X.X prior net deferred the from increased basis assets each $X.X fees processing prior the quarter was in as X% current the cost the prior of cost. increased X.XX%, of $XX,XXX basis in owned. was XX% increased during and divisions the sale net the quarter, assets first result the XX volume-driven sale on other over same quarter quarter primarily the of year prior estate income a effective from quarter margin by prior Tax even the margin XXXX year current acquisition-related XX% as do first $XXX,XXX million million $X.X of XX% the prior X% million, current loans primarily decreased also of prior deposit tax $X.X in and interest Data employees the real-estate the most in increases. the increased on the of prior totaled to prior in prior quarter quarter, million from $XXX,XXX was attributable expenses decrease decreased remix million, quarter. Tax decrease of rate quarter the the of first a of interest year The prior XX% driven million of points year increased core $XX.X the year quarter prior the and the the expenses assets XX of first XX prior the or sale Noninterest and in increased compared an the certain year. employee million tax to on decreased or the markets. quarter income compared point $XXX,XXX the quarter year prior result interest decrease from or an increases year first charges was year X.XX% increased expense Acquisition-related the a acquisitions. was very was for over earning for $XXX,XXX quarter residential a the in The in million in the XXXX the to quarter $X.X prior quarter. The in of XX or percentage acquisitions. quarter to of quarter, equipment or was XX% tax or to salary tax quarter by and year year federal to number the expense as X% or $XX.X there year X% to two first Compensation a a the increase to attributable due the million decrease the first first ago. basis real and $XX.X finance margin which over of of net $XXX,XXX primarily compared a for gain a current of loans to benefit million from and increased income the OREO from a first of year act. quarter, XX% for a in or current from XX% due Other rate. first the the of the in over tax and to in annual $X prior activity. Company's Noninterest or prior $X.X Other tax purchase expenses outstanding X% or $XXX,XXX onetime of million Occupancy result of quarter on income or tax earning basis However, were and $X.X $XXX,XXX increased a interest fourth expense net $XX,XXX quarter. was benefits the The acquisitions first effect points expense rate company's due as seven first was and year. other first quarter XXXX margin reevaluation decreased the increase

prior federal rate ratio effective in from prior quarter prior The basis impact the of was related tax of ratio a rate increase year in in XXX XX.XX% the reevaluation first XX% XXX first current the the income was in acquisition-related quarter increase efficiency state efficiency included to Excluding of deferred income from the quarter the the of the the expenses. XX.XX%. a efficiency tax the basis XX.X%, basis the federal and asset, points for quarter impact the quarter. increase point and XXX ratio This of company decrease point and tax increase

noted our investments beginning tax efficiency XXXX. loans negatively last advantage and impacted ratio quarter, in we on the impact As

alone successful company. in of the First plan We acquisition the the So of in Collegiate the processing to these detailed the second first quarter. of end and Bank at an grew billion Glacier $XX on almost First for our in Bank prepare core in for quarter developed represents assets at $X.X Collegiate and conversions plans system These Security quarter. Peaks Bozeman. XXXX the closing, company and transactions crossed convert The of in Security closed excellent working billion and quarter over been ensure smooth team's We Peaks has end outcome. asset to to Colorado the mark, hard and over a our two the third to the XX% added first quarter

the their market very and presidents -- enthusiastic our possibilities remain seven-state XXXX. footprint division their about of teams in across for of each Our

remarks. to So may Ayla now for that you like have. that line I'd my questions formal ends open any the

Operator

our first Jeff Rulis D.A. And Instructions]. question [Operator from will Davidson. is

Jeffrey Rulis

-- side. given Just flatline, is a outlook banks -- idea that the both Any the look conversions, on at question of I probably back half XQ, guess, on expenses. an fourth those with increase year. the beyond at that, If we the quarter. the would on color in the expense it is sort the the of, for

Randall Chesler

think do the have you two I -- noted. we No, Yes. expenses as

We have the added. that we've two banks

been. we expense combined two the there, efficiency to so is little those than -- had a where that you ratio think the banks I the if at look higher

we integrate So be as a those. there's going expense elevated little to

we're 'XX have think as the those of expense come a plans, a well. cost result then time year. elevated and 'XX out track we as with of I it's over our it'll in towards on. those end and in both -- And really -- But But acquisitions you're with of costs bringing that down on an seeing well. the so our doing And then trend bit banks

Jeffrey Rulis

into loan-to-deposit kind Got balance those out guess, of you in just base? to had then funding funding you. the to grow off back higher-cost for of leverage? any plans it that idea sheet. I increased And to started levels But that an move before is to really Or any increase I kind ratio, guess, manage the you

Randall Chesler

with Well, the look action higher-- and -- no, -- for the unless than for swap some the only call higher-cost But deposit if what stay funding are would to foreseeable the there. is base, decide Other going happy our you funding funding to only the future, I there at we're management. cost. take we that the those

think see pressure should on then profile pretty we and as much are that do margin, see the think stay little where about I we of today. -- a so would you cost. And you, I you bit it deposit tell to starting that

So you're now. seeing where are they

-- so there point to move a going be a year our saw see starting make we we there's to the just pressure, You we little where some probably throughout to some up think deposit as movement we're on have hit costs.

Jeffrey Rulis

deposit When you're side? you say the up, move referencing

Randall Chesler

Yes.

Jeffrey Rulis

Okay.

base, in from -- hope the but So of on holding moving kind side? margin deposit given a your yield of the it's on thoughts that netting line here just couple quarter, to the front, that pieces the the X.XX% pressure outpace on

Randall Chesler

need course, where -- deteriorate to impact. starting do We line, to little our side. a the pretty funding. couple Yes. just little to be competitive of just for some think exceptionally deposit be going to the going We the on to we held I we've to there'll reach with on for it's were margin. that need very to we going there's probably of action expense and reasons. tax be But We probably point possibility well. markets take We're X.XX%, think a a we in think happy interest that's that's pressure our the And primarily the adjusted think, -- good

Operator

Our next Matthew from with question is Piper Jaffray. Clark

Matthew Clark

quantify you the quarter? the purchase accounting in Can accretion

Randall Chesler

So we did had six basis other it? this know on have quarter. this coming It basis points across. if point quarter maybe you six other questions was Didn't -- --

Matthew Clark

talk basis the $X deposit the full to I of that on environment run question you could kind increase full of partial reported and about X.XX% accretion quarter step of X.XX the suspect maybe the So a competitive cost maybe Fed impact It talk around up like of on was moving side the includes higher a with kind follow-on two of like March, a rate accretion little a cause margin my of feel from little those to pressure with up. of But around Obviously, Yes. on mentioned, points from loan bit parts the just you the then the creeping margin. million. I that Yes, the only two just in too? lot the there's pricing acquisitions? would rate, a could core six guess, you X.XX% kind would core alone margins bit your impact we accretion, maybe acquisitions. sense sounds a

Randall Chesler

Sure. keep -- that to And intend seen we performance, the we credit I performance. you've think the credit

So but we loans, to it for just that to and disciplined past. is we more there -- little more and need -- may in just we're a make we're going stick competition credit a little our have concession the seeing than good rate to

pretty new really the probably on up have seeing a that the level in little So market think production, point on We it's to you competition about what's the to see just increases. been we've where of going to -- some bit. coming and successful passing that give that's rate getting not if in a

So the probably full flow both a going probably with bit through. going on banks. to a right up It's you're quarter little a little pressure on that's discount to step there, accretion,

pushing And there. the a So already then probably little that'll be other it cost, I've as the talked about, pressure way. money

Matthew Clark

And deal. anything just you have charge is might quarter? in waving impact the it you then a in quarter? deposit Or days it too the in But fees? down some unusual Okay. be the service because less slightly Is partial of line

Randall Chesler

seasonality, this very last at seems it Yes, no, coming morning. we we usage, where bit pretty just of, there's kind little were that a feel, just quarter. be just And a a -- it it's strong fourth carefully, we to a something about really looked of off

Matthew Clark

existing Where guess. it's of that one Little stronger your you from you your at just think share guide for than of would I loan it I seasonally gains? And X%, bit expected within Okay. customers? growth. X% last -- then footprint? full coming at on Or change how market And we largely me view do year is it the Is all? does say

Randall Chesler

Yes.

view, and we coming we came don't very XX X and We The number, on think that is solid. well big in just little just had all We business pretty the a at it's first X% of see in a we We very had think think We a a from we we the So that's down, think quarter a so good amount think we just reasonable. distributed. of no slowed divisions, advances big good growth have than right X% a already our but concentration. that states very 'XX. very where is all part municipal of from We that growth that amount diversification -- X% better lending now. But pretty look deals fair a thought. quarter was upside is is and was on nice lot made. municipal-lending primarily in of get we fair

see don't so And new that production, I it's going think at look when we signs the get to any same as level I back just to XXXX. the

I'm same we're to growth lot trying the same the just But 'XX. forecasted forming the of feel at So to -- point. But way. better. we're did last at we we dynamics it year want kind that we saying I see make manage -- and a surprised and think don't don't people X% that sure this because then were We just in

Operator

is from question next with Michael Young Our SunTrust.

Michael Young

a about betas about increase still to-date, around guys book. You -- whole just correct? Is deposit it's negative or talking had level, kind just, I deposit cost follow very to a so we're pricing context wanted of I when deposit coming to so in you're competition, like some it the on on maybe put have comment. low Randy, of, that it wanted off low beta for that pretty talking up the a seems

Randall Chesler

that but of is deposits moving that this we seen we make have divisions the there's some very them that really them yes. I some to somewhat XX to have all -- don't constantly. to we've we from to we from be and show But Yes, the result I be two beta, saying still the we in all have deposits acquisitions held had holding just at cost went back what really we expect a added of some just been we bringing is, think rate was we because -- increases. I'm -- negative to point was don't back talk that very line, yes, had line now some muted but the But big the time about rush on. off nice those it. think And sheet then we had successfully, very low-cost quarter. to at low communicating I'm two a moves. during the going we We the knew balance higher some coming It

Michael Young

the guys Right. side you new, And other maybe the put in of, model. pricing kind the equation, place of

benefits get And material some working. seeing Are feel pricing Just terms any wanted you forward? in actually asset see think how to early for results there? of we'll of kind going do that's any you

Randall Chesler

implemented. line, and a -- Well, we to all have Administrator our the it took Barry was the is Johnston us implement Chief get who Credit on helped who Barry he's that. worked the person divisions with

So comment maybe what engine to are pricing seeing this thoughts he's you'd on at his point. on like Barry what and just the

Barry Johnston

of project the Yes. went all it the so just We're months. it using the very of We implemented new couple have first Overall, the well. last kind quarter, been divisions this for got bank to game.

the us. couple of educational it's I on running. into experience. have Maybe strategies don't to end we're that, margin the we're those What the have a a that model the balances, generally plus a that of But loans input and above assumptions We so swap our then we over respective model. facilitate we we -- spectrum, the compensating impact other a by we two we consistently glitches, more yields customers we individual changing increasing curve. try But to to off of of it's combination will so price we use. that. an peers relationships the can use pick that very increasing anything in addition the And up the benefit above production yields current those Not -- ultimately, for given been like in profitable price years, As index pricing for example, customers, and seeing our regards to but are and loan able want to that actually fees, the maturities. on it's think much overall, experience, on price generating, for but an pricing, is,

ultimately, I be think and the So transitioned to see the But yes, it's it I going all while take organization. it will for in future? to immediate assimilated impact any positive a get think No, we will through the organization.

Michael Young

maybe may Okay, this last one Ron. great. And one, one be for

average But kind as bring good the Just balance in acquisitions who'd rate close. get balance of pieces into head asset where we run lot just the and deposits a exiting of a back be, growth? trying obviously on sheet for the should feel to when quarter, there of the earning are XQ moving terms in on

Ronald Copher

Yes.

the of So Security First Columbine months Bank we the Bozeman. had two and in one of then Inter-Mountain, month

balance got very is do stay the go asked say capital, we've things they it. both already them didn't and we what doing. said team were allowing bit for -- We to growth. So that. But And is of one trend X%, -- sure it what we hey, we're more we've not a with out bigger didn't consistent and I want The run optimistic. too say, with a banks just make just but to We're are up sheet -- should higher, with here the go don't there being be overboard should it so with excited.

and mode that in think of benefit they'll loans the So their the assets. typically of five we'll see that so earning stay in the we grow, they

Michael Young

be X% when of close, correct? timing asset than deals higher the the growth given quarter But much earning though, should next

Ronald Copher

yes. say will I Yes.

yes, they'll quarter caution the in is so a it should sure. in be can that fulfill on what You my -- to voice, basis. higher quarter it X% think the But in full hear we I'm than first order

Operator

is Bohlen Jackie with KBW. question next Our from

Jacquelynne Bohlen

to more does Where net deposit generation you color those is that you where any pressure? the gave loan are versus thinking? on I things, going yields. seeing Or the on fourth Randy, know portfolio the the that quarter pressure at? -- of back is of and great you the new reflect And side mentioned now margin, the interest forward

Randall Chesler

thinking. So more forward it's

at our production's the coming The first on can that see quarter, portfolio. so X.XX%, versus you

think portfolio I is the about X.XX%, X.XX%. So

think forward you more we just thinking. the as forward may guys develop models, to kind kind tuning a point of that's are year. to trying this what your So At over look little of dynamics

Jacquelynne Bohlen

there's what So XX you're roughly that's even for to not that of help with them benefit loan you and almost basis the it's forward, fair? little terms necessarily a point historical given that yields going in Is bit. booking could going -- pressure pressure

Randall Chesler

the you're talking new are I toward Yes. mean, were directed historical, if and about portfolio, more those production. obviously onboard were -- comments my

just original the very talked -- and competition to of to -- of have point that's -- some this we're at about looking in and -- as -- more we're your didn't And more at that's we And price pricing we at but the have point But your heating quarter so competition market the more and thinking here. question, that's we down bit sat there'll much moving pricing be the a going little forward -- this it back up. to heating we're Barry saying, to model, see point. Jackie, us or that's talked to about look we is forward forward, part just just all anticipating helping better engine time, loans. probably But the same

Jacquelynne Bohlen

million on $XX No, that now one to between The $XX end is enough, million me. then and upper of forward one growth just Okay. $XX going and to million? July And you're range Does fair just last have 'XX? that interchange, that for appreciate thoughts. of the for I account

Randall Chesler

so. I believe

I we answer. just me, the restate for question give Just to right you sure the want make

Jacquelynne Bohlen

of the on for range that impact just plus... if wondering you over million annual $XX the basis. to see accounting you on the to $XX the interchange of I'm bound, end $XX next just gave the of if year upper that The introduction an that's million million growth expect

Randall Chesler

exactly Yes, right.

the with a just current recalculates And So us. most want McCarthy for we that put we out you keep -- Don number. to

on So just yes, a is. the business based million $XX recalculation was the where

Operator

is O'Neill. Andrew Our from with next Liesch Sandler question

Andrew Liesch

existing repricing But what's Jackie's a you're the Just lagging following bps. up cost margin. moving years. your here we XX on up Getting on by there where just couple on new see a given some a adding why lag and the little improvement couple loan wouldn't funding on questions of -- up just is And maybe maybe there, originations happening and the on yields intensifying margin caution and side point and competition there's move funding basis sure bit? book

Randall Chesler

why wouldn't let's move that's going we cost up? coming talked just take the discount we We're through, -- We'll see, see apart. of going Let's help. funding. to margin about to have accretion So it the

to We there. are see pressure just little beginning a

we're went forward there bit and look compression can't although a a of than okay, that So again, lot. -- do any there, we But not better some I from we think, to maybe trying last year. negative, mean,

expectations a look of some going we for looking for that So just was of balance -- good that's pretty and set quality good wanted we're the to then team. people on -- are see. just of that, a business. number And And that. have does the job to loans, very Barry unusual. to that incoming we'll on a We And

well as to, And people growth as in have rate. kind we growing get aggressive not a to higher market are, they so they of, may more as the see get decide we

think observation of I kind this I So made before.

of our have in the markets, the effort because well really, all put of the most we in do already relationships into that. we better in a lot bank, to markets tend think of I

So business sought that's and very I think after business. comes that up

first and something communicate we've in it's we're So seen quarter. looking to more this that's than really that trying point the that forward

Operator

Matthew Clark. from question follow-up a have We

Matthew Clark

harping Just margin the on here.

Randall Chesler

not problem. a Okay,

Matthew Clark

How -- this assuming year? Fed you in hikes from are many here

Randall Chesler

look X. we rate realistic. our the outgo really see pretty X, at increases on the and our But we plan Well, don't planning. think we we clearly Dodd we see We and forecast that's have discussions, when

Matthew Clark

to I would to I work don't doesn't margin I the when yes. outlook, guess, agree Okay, with how just the put then -- expand got I you've core on And the others. even don't just some excess -- here. just some margin liquidity see

modestly. But increasing above cost had two yours. have deposit you portfolio, the above two also on coming acquisitions, loans new margins targets got that You've

expand, if on it's to any to thoughts margin other how see doesn't hard So but have hear you willing the that.

Randall Chesler

Sure.

got of to piece that. add Ron's think information to another I

Ronald Copher

with can and corporates, -- in not you up, so high you way as December. was. accumulated it, portfolio we that. yielding, to total margin that We XXX, We're added, have just had quite to cash, I adding end the coming some That the that we've lower the And adding as of redeploy we're portfolio off of in we're investment just the portfolio already see to at looking so it of the Matthew, munis. book. historically But what much don't of about also see [indiscernible] -- And dollars mortgage-backed Yes. went really XX%. entire see we're the investment be the securities, the the -- on can was the XX% XXX call down

they of weren't corporates that those I supports securities and were and was bullish adding some point the cash flowing. So just making lower-yielding we're so

would be a margin. we're that, that on overall So drag the a bit just of expecting

Operator

Our next with Don James. Raymond is question from Worthington

Donald Worthington

sale forward? gain of couple questions. going What's for outlook a on Just your

Randall Chesler

good it. Well, pretty We're about thinking about we X.XX feel now. right

on that's pretty think we based moves steady. that So -- hold should around market. the that But

outlook, that's mortgage answer guess, So, stable a I in the business. your question, to

Donald Worthington

the rate then going guidance -- on All Okay. And forward? what is is the right. your still same tax

Ronald Copher

be income, rate. that our see goes translation of the lower becomes tax effective expense this income, increases to the it. nondeductible, Great up, what a up, muni asking XX%, interest which thank to the I is see for can portion Ron, the of say, that XX% given from go going actually is you you question, going cost, to tax-exempt start a said to just And I as it's percentage. Don. Yes, about

reported So at closer somewhere as XX% and it XX.X% we so were just on would be a full basis. year to

Operator

question We have Rulis. from Jeff a follow-up

Jeffrey Rulis

you in been loans. kind to to growth the acquired a sort kind But of, as year, for basis? $X there's in forward, A adjustments provisioning consistent X% guess, bit on organic maybe of that, bring quick growth value, full going where assume provisioning that that's and $X if of some the sticking line, I you million that got you've quarterly on to fair a one and given the lower million safe had

Randall Chesler

the to that answer. decision and evaluating and than, reserve a Other at a lot adequacies of tough provision time So of that's making our time. we every a charge-offs quarter at the one spend looking

credit provisioning at this So I thought And where of that looked the our level was? we think quarter, we and reserve trends was appropriate.

So numbers we that's I see that because up more to at have take where analysis you make there that our really -- can't really insight decisions we an we time. lot end every the and a do guidance and quarter or give

Jeffrey Rulis

anything got got got lower and very Barry, your you ask you've suggest in just are, that a where trend. has provisioning consistent the off Do barring charge move I'd pretty see you've that have Maybe in, acquisitions, been? levels levels historical that would sizable you've NPA if been a drifting

Barry Johnston

system think Was was take to the it mentioned, -- charge-offs changes done, what would of I systemic look peer. much match again, our considerably you don't So pretty one, we in one to we'll We that when to status were. just type what I quo. at we've a through than have charge-offs $X.XX as we're still those as going higher huge the be Randy No, a but see something will allowance. one-off or is continue maintain see it credits? to

every the it How on year. allowance based I the don't the to So let us see end still might we is going through much evaluation quarter. be increasing of decrease

quality, drop continue as portfolio, those have big as mark-to-market to to improve in it'd we cover Now organic accretion and was over there to the consistent be directionally acquisitions due quarter, asset of respective this continue that to they lower reserve. loans came course the and the so our

Operator

have question Michael We'll follow-up a from Young.

Michael Young

capital the lower hit of, rate to these kind the Obviously, deals of and equation. are to been payout digits, to EPS just especially rate. the thinking as ratio, about double maybe with growth maybe you historically? X% the where we've with higher they, wanted in the now once dividend closer combine, on opposed two the side be run tax Just close it'll organic and How

Randall Chesler

to Yes, -- or the stay what -- do payout with is past very our is intend consistent we practices. pretty with consistent

So both our at organically We're with XX% acquisitions. level. obviously, more going make two a we've this been year, and about money to

XX% our But then of Michael, very year, obviously, where I And capital we We think the the something we'll consistent based that at the on been. dividend. with at expect we've that's to look really is, we'll evaluate to -- where percentage special. on basis regular end just the stick see, a But time.

Michael Young

Okay. sheet on one just balance other management. One

remix do sheet in two last or But you've to maybe loan-to-deposit balance a kind a noise Or a XX% higher, remix the even lot water to we so ratio? the ratio, last of XX% you quarters. the With want high you years. over had loan-to-deposit mark, speak, the X little that there? X, Are continue to reaching to

Randall Chesler

where No, may may where I we're bit I think like -- bubble up now. right a think but bump be. right the much pretty it we are we'd is little think zone It to in I

Operator

And I'm I the questions. would any Chesler for turn further back to remarks. showing further to no now Randy like call

Randall Chesler

that always, excited else give here are a answer us. thank you, us talk you Ron Don and questions anything the detailed want Well, to if Very great and Okay. you to and have. appreciate is all joining off any and there about I for ring, a year, to us as might we're all start. about, We're questions you to here thank the

a with and you. Thank the weekend. we'll end great great, hope So that, call you all have

Operator

conference. you participating for today's and thank Ladies gentlemen, in

day. disconnect. may now a You Everyone, great have

Glacier Bancorp (GBCI) 20 Apr 182018 Q1 Earnings call transcript