GBCI - Earnings call transcript Q2 2018

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Operator

Good day, ladies and gentlemen, and welcome to the Glacier Bancorp Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions].

As a reminder, this call is being recorded. to and host CEO. like Randy today’s now President Chesler, would introduce for your conference, I Sir, may you begin.

Randall Chesler

Controller. me Don this All Credit our right. are Chery, for Principal With our you our morning, Ron Administrator; and in McCarthy, Thank you, Financial Officer; Officer; Accounting Heather. Angela joining Well, Copher, our Chief us Dose, Officer; the Administrative and Chief on morning good our Chief thank here and phone Kalispell Don today. Johnston, Barry

yesterday, second So our released XXXX results. we quarter

$XX.X XX% see, of the you increased XX% year over of earnings XX% pick quarter. ago. prior prior $XXX for million, second the annualized the period Pre-tax $XX annualized first-half for quarter second prior or the of quarter the growth or the XXXX. this million, As million, our second We per quarter, or for second the a million which for increased grew really X% $XXX deposits income six up by the for second speed Diluted the million, or year. quarter increase of of year year first-half $X.XX, the or in $XX an were million $XXX million, XX% strong the second $XXX million, the can Pre-tax over non-interest of bearing growth million, share XXXX. quarter. XX% of were business resulted year of an the quarter a and from income from million, began $XXX increase million, XX% later them quarter organically $XX.X X% very the loan had prior $X.X of quarter, from XX% for We performance Earnings over $XX.X the of or and an to first-half was and of year-to-date months increase the organic in quarter. Earnings $XX.X the year an company. were over or in increase or million, first

for continue very of to to experience a pleased addition well. of Directors. will $X.X Colorado be as on prior XX.XX% quarter an we was a increase felt market, $X.XX on dividend I’m to experience us Dave XX% the Inter-Mountain assets Our consecutive perspective a year return First as got tangible added increase a quarterly in for the the return per strategic was This over share, quarter XX% room Security of completed the West. equity the over grow. us with is grow total and X.XX%, and banking was we the average Bancorp, Bozeman, quarter and with company by Board Peaks excellent billion. the we in holding company, market per that in very declared business We an $X.XX to paid our the be which for when while Montana plenty conversion we quarterly strong had of of he second Colorado Dave Colorado Bank on and Board regular Collegiate has of also We acquired to XXXrd XX.X%. know our right Directors Bank great Boyles the dividend of the and share, our a to David help equity or a assets existing return average and strong will Dave ago. in

quarter portfolio distributed the were once $X.X quarter So loan among The ended $XXX at generally seasonality. production for with past billion. which downs well Pay the again $XXX was million, divisions. which all is million, loan second the was consistent

$XXX million, commercial portfolio quarter’s primarily in driven real of June which over since XX% same and XXXX, million, increased last $XXX by or the increased the the XX% growth Excluding acquisitions, was loan estate period. or loans,

securities decreased securities XX% second XX or quarter. XX quarter the end million, year basis investment quarter, of during points total of basis $X.X at compared or billion the the represented and portfolio second XX% at current second million, prior the quarter-end. Our $X.X Investment year assets $X.X only points increased of prior from the to

of basis point year XX basis XX end were these a any to moderate increase the quarter. end points – and result new of total basis a basis a the loss first point increase year plans $XX.X at growth $XXX.X increased Net percentage them. from and points prior points, loan of was or XX end from an second flat increase charge-offs don’t prior credit improved in the the increase of of were with and of a prior portfolio quality or the of The from points which assets from quarter. new second see the XXXX. and percentage Early-stage resolve ratios decrease loan trend quarter Non-performing underway X.XX%, from and loans basis the million, at quarter. NPAs as key to were a of as NPAs basis is by $XXX,XXX, million. $X.X areas, X Primarily the the of assets as we remain which have in decrease very points, and a the quarter active million, prior down from the or in $XX.X loans outstanding from quarter driving quality. a delinquencies subsidiary the an of a of were points, losses allowance the increase quarter strong for the points end basis basis XX% was a to an the underlying our end basis points the million We loan X which this X of quarter, prior of total At and X NPAs, reserve the of XX increase lease slightly period quarter as an an quarter as consistent Our year percentage most X ago. confident and we credit of of in percentage were loans the the at X quarter second quarter first prior same was basis

Our low-cost Western ended really deposits our and to well quarter footprint Core billion. multistate stable for funding perform at continued foundation the the $X.X across company. very

quarter yields interest quarter decrease of the outstanding of million, points or Excluding increased acquisition-related expense, our basis million over current from prior the quarter from to of increase million, full the the $X.X loans year the salary $XXX,XXX core Tax quarter XX the increased quarter. The growing quarter XX% Service and sale the margin again, or to should prior $XXX income decrease the the second the $XXX acquisitions, quarter. loans million, increases second a primarily to end – and rate. company. the there acquisitions, portfolio second of improved second the basis was increase loans, assets, increased for charges interest $XX.X job the was million, of $X.X loan growth. cost, from the tax and $X.X Total year prior prior Tax remix core prior XX% million, as operating the the to we sale second or full XX% during added quarter $XXX over second interest in the interest quarter quarter year continue benefits was the add. X% the interest flat quarter. $X.X and the activity. increased to attributed of prior of the margin was or million, quarter a or quarter a accounts over year continue increased million, deposits two Tax transactions year This quarter prior deposits compared seasonality of Security organic X.XX, quarter XXX of loans from prior XX.X%. prior XX% the income increased increased increase core X in bearing prior company year points X% seasonality effective and loan was started of year loans prior the from result to expense recent prior in were the percentage current was quarter a XX% in the cost. from alone. expenses and our prior on the We and Collegiate million integration or the of due interest essentially second due of number $X.X Non-interest specific increased residential the decrease and and for first of $XX.X in XX% and our and quarter grew same Bozeman, fees the in employees increased acquisitions. quarter. their assets even quarter. charges XX% earning as the impact quarter. annual second and stable or increase quarter, X.XX%, $X organic quarter. an quarter gain and the is increased excellent from increased $X.X accounts. of points Once current for net to million, and Compensation and during prior second and of Bank represents tightly from cost Peaks each The million, the by the second versus quarter year to the – basis quarter quarter margin prior efficiency focus second loan quarter quarter quarter driven were deposit closing, prior was increased prior from due managing rates income from commercial First deposits second markets. combined the attributable a quarter Colorado Non-interest Interest quarter relationship-based and strong Miscellaneous from result company’s costs efficiency $X.X result These increased million, quarter in and of which the federal prior prior quarter business were company added the $X.X commercial and prior The from X decrease basis prior on year last $XX.X the of prior in a million, prior X% the increased million, of compared of in seasonal number basis organically the of rate million, net increase do or The the result up prior the XX% accounts. portfolio and or assets for to quarter refinance their million, acquisitions $X.X an year and XX.X%, almost charges from primarily and to $XX.X the compared second quarter, X.X% a in with funding teams on growth. the million, ratio or $XX.X income or quarter or the million of – the increase Act. million other acquisition as in second primarily year the first increases, net and recent accretion. from $X.X quarter quarter, real acquisitions operating quarter fees million, tax Non-interest point was basis to result for was or XX% as from of over core decrease loan earning divisions an expense XX% XX in billion though with interest XX% increase from XX also X in while X% to increased increases the prior for $XXX in $XX.X due of cost of both the growth. point of to the discount in the quarter for income increased acquisitions seasonality or $XX.X the a a The process quarter the a XX% totaled points XX% an on second basis XX margin – from loan increased compared and on by and to purchase The controlling In both prior Interest the on current current employee net included the estate deposit I current the and primarily points, was in total new X.X%, another margin higher-yielding XXXX point or XX% XXXX ratio year quarter at quarter the for quarter. of basis Montana. funding million, Gain the increased or for our XX% over income The driven year, XX

the convert transactions to see two Collegiate their successfully at the system operating of third down of settle very First hard start those contribution. quarter. We’re Peaks financials our steady of starting reflect the lot Security to A end worked convert to benefits over as end the processing dedicated to still the and to we second core quarter, to on the track are at of folks

McCarthy, of will of has years, Controller. the month. Our years, the to teams the and with company contributed XX the He me division looked in and presidents retiring of with the a part for a heard delivered has including XX these of Don results across states our he our be like the served at end acquisition company’s of strong last integration banks. to XX a success, beginning calls. quarter. assisting Don been and quarter this bit the of significantly occasion second at as closing, In number really introduce Controller, as overcoming of earnings He which our slow their seven our for you’ve very the rose what environment

accounting excited more our to Controller also the Glacier Kalispell. the XX company, than which and with of that We’re Pieri promoted areas Reflective in of position. Bank operations XX right the to operational Controller in assisted in has XX strength been she worked the has the served with of our Bank last has of has and for announce for merger of lending as bank Glacier company Mel years bench here been acquisitions. Melody years, She the

Melody open folks questions I’d and any to Don, the And remarks. for that my our the analysts thank like the to that you’ve ends congratulations company. on for So may for you Heather, promotion all formal now or line have. done

Operator

first with And Thank your question comes Young you. from Michael [Operator Instructions] SunTrust.

Your line is open.

Michael Young

morning. good Hey,

Randall Chesler

Good morning, Michael.

Michael Young

in the maybe as continued nature? anything start just to through area? and on provide is maybe then, this deposit wanted you seasonal that the color more drove of deposits through walk little good a bearing with of what year higher-cost move was us growth the growth for And what some just outflow and some a the in we that the I growth, back-half outlook in non-interest Could quarter categories. just then

Randall Chesler

of decided Sure. I’d say, over the on to business. a year ago, the we really focus met aspect non-interest and

So that’s motion – while for a been in a for quite while.

of that, we’re up – offering particular XX I really that think, and the starting to see I the through the hard of I so build percentage of our very work, and that really through promotion continue normal a And their results divisions as they’ve increasing built we said, aspect made priority. see that nicely. have think, to

In we terms continue. and of to see – expect that

focus that just kind some the will of on with we of benefit but happy us to I think, growing, areas are not very we’re We’re run. the overall that And long the think of in choosing deposits. cost the areas

Michael Young

kind the interest that loan loan to obviously, maybe and with net tying just growth good of this very together ratio, margin deposit quarter. And

drifted deposit there to loan room And of net outlook more the interest that Is there? margin the ratio how going does kind forward? So for affect up.

Randall Chesler

to specific time I’m going Ron quite very a question. talk that, that Sure. let of spent studying because bit to we’ve

want Ron, to you that? take So, do

Ronald Copher

it point, loan just higher ratio, and certainly our we obviously deposit bearing to with loan the focused base he said. on grow But we growth. deposit as non-interest to particularly on remain Randy’s Yes, could to drift want

have loans, you We’ll the banking, what it the get it’s gathering is, bring see if deposits, that in could So actively deposits. higher. relationship wait to we’re and drift but

expand. optimistic, we’re could it So on the margin,

margin You the that productions, of the base do bearing we could we’re well to cost loan higher the can because if see yield check, likely And getting and that we on whole see deposit allow the just then expand. would deposits, continue. that, our in it is the interest to keep

Michael Young

on retirement. for back step I’ll congratulations Okay, But the Don, now. upcoming

Don Chery

Thank you.

Operator

Thank you.

Jeff comes D.A. with next from Davidson. question Rulis Your

open. Your line is

Jeffrey Rulis

morning. Good

Randall Chesler

Good morning, Jeff.

Jeffrey Rulis

expenses maybe Question just outlook here. and on the the

guess, got take the expense quarter on out and deals we costs, the the expectations what a merger are given side? the and I You’ve this couple conversions. your if of timing of strip

Randall Chesler

And going to given the to elevated we that’s well. and quarter. expenses comment going Ron to I’m as what side, this So complexity had of kind the over M&A size also really expected. you’re forward? is little do but want – that on hand you But on a of transactions those right, the Ron, we

Ronald Copher

Yes.

we – me expenses in the it, first think, had quarter. So addressed as let it. we And higher I repeat but we

base. growing into me, are we the deposit- excuse expense the So

getting see grow But bigger, actually side hold our the but certainly don’t press well to Obviously, expenses alluded There it. efficiency we’re could for focused third acquisition-related it our our the more of we are So driven have it do to as conversion. certainly see. But do to would we’re by we is ability on pretty we to more income ratio release that expenses, and so as room well. go have that’s we and that going we steady, cost, – accelerating. should down, that in we’re going to aside, the operating putting of the quarter divisions controlling in

Jeffrey Rulis

Okay.

So expectation? on line of expenses holding the like from the basis, sounds is core it kind a

Randall Chesler

good. Yes, the we Jeff, feel core, when at look we very

as XX% the with it M&A see being in expenses, the of because can’t quarter. first are the those You fact and Ron there how that the very But the we’re said, happy expense we grew growth in all core controlled.

Jeffrey Rulis

And that? is maybe questions. of of the increase lot – detail within just bucket. past Got came payoffs from a the that in bucket? that there anything credit NPAs overall XX-day within the on subsequent maybe The it. And Any couple due any

Randall Chesler

spent on again, – Chief looked there lot we increase, because is obviously at phone, what Administrator. of Credit closely. on we the our the going was Barry And a quite So

So comment make Barry, that? do want to on a you

Barry Johnston

centered came credit will over financing just that paydown sources current Yes, commercial to end. real a over that $X we little in we in ownership paid the external bulk a from was And million, property. of million with that had XX days, fully was estate of anticipate the before increase the was that income-producing property. $X.X a month going loan that and one change a it that there’s of change be ownership Subsequent

Jeffrey Rulis

a given provisioning, QX on any the if outsized Great. specific provision impacted But a loan growth. the wide and movement broader QX And or I little guess, and provisioning range that of level? the say, guidance

Randall Chesler

look No, assess was quarter I we we the to end have the we of very NPAs. at the the look, think, at strong provision next in at and it where of month driven by this quarter. really the the at quarter. and every see end growth loan this of end quarter – are We’ll increase It the

Jeffrey Rulis

Okay. you. Thank

Operator

Thank you.

with Clark question Jaffray. next from Matthew Your Piper comes

Your line is open.

Matthew Clark

morning. good Hey,

Randall Chesler

Good morning, Matthew.

Matthew Clark

Can this what the it new you on was quarter? quarter? XXX give average us think, production weighted I last rate was

Ronald Copher

it’s Matthew, over looking picked it’s so another roughly actually XX, say, right up we report I’m Ron. points, Yes, XX the XXX, higher, actually should I basis It’s about averaging here.

are for So that we to higher credits. did on loans average competition on say, did, it the that. we’re we our certainly we where there the yields. division is very But is focused And where able well to should can say, get lenders can the I larger, the better-quality out very get

Randall Chesler

very able a were up West, that the would expect off competition with pricing pickup growth a we’re because – loans. of the the picked see pickup a We pricing happy practice. markets pressure in think strongly we the to lot for and look grew. nice the competitors loan of at of whole at beginning we a saw nice took there. more we little I very the Didn’t saw the West you H.X we Yes, that, and quarter, data, the our that some in thought some – But in grew terms if country their beta

Matthew Clark

us well? then as the what much quarter how – in And you remind did production can great. you Okay, in

Randall Chesler

So let’s I see, mentioned that.

had we paydowns million – $XXX we and we – of – production $XXX million. had just So gross was

Matthew Clark

it. Got

selective you growth can double-digit with of Okay. sense – I tracking Do Do of at get have then kind And you think you high for expectations your the you single-digit, for loan kind ahead pace, here continue low competition? of may you think feel like had a or your do the year. little you what’s any second-half? more

Randall Chesler

I that at this No, talking we Don that about we that morning. looking Ron, were and obviously, Barry just think and I And about talk it.

up picked I this think, again, the market’s really quarter.

And we’re as not were then continuing. April, And and on based strongly. June up seeing picked strong. it’s so that things And far up really looks then month, picked May what this so in looking like

at it’s So more overall, this realistic growth we’re probably target point. thinking around XX%,

Matthew Clark

where broad-based the where Okay, mentioned June, quarter, then activity? July. to for terms in you can geographically, up the know footprint. regions that great. of And of footprint throughout you’re kind you pick it the you’re point of more seeing certain I maybe But maybe was seeing

Randall Chesler

out of really Washington. seeing there. job. quality doing They’re I market We’re just park. strong they’re We’ve Collegiate growth seeing seeing and another. one we’re is There’s really in good way Peaks activity very board. growth it terrific not across good knocking markets. Denver, got out Wyoming our very Idaho, great a some some the good Bozeman, that But mean, growth pulls the

breakout no is divisions, the doing among all they’re XX performer there So star well. very

Matthew Clark

Then me. Okay. one for last

cost cost far what the much realized can percent of saves saves, saves in so those you how from on or your cost you’ve Just quantify deals? two

Randall Chesler

very middle – I we’re much we’re the saves would So the those overall track. for on remember, deals. in expenses recognize bulk the if you Collegiate still there of And put tell in Peaks, will you, in of this year. cost we’ve both we’ll reductions – of, The

month. of – much really reductions as We It’s First we’ll the hit completed XXXX. see those will First Security in Security most of well. track Peaks the on is in just we’ll and Security, conversion and it’s achieve very last Collegiate XXXX, costs spread First out. But

process I at So are said, retiring Collegiate And – as reduction of senior – team in a we’re the of expense in was recognized. Peaks, just some amount now the fair being that close. expenses still of those

along thought we I’d on of So we’re we right would. Matthew, say tracking both those where

Matthew Clark

Thank great. Okay, you.

Randall Chesler

You’re welcome.

Operator

Thank you.

Your from Jackie next Bohlen question KBW. with comes

open. is Your line

Jacquelynne Bohlen

Hi, good everyone. morning,

Randall Chesler

morning, Jackie. Good

Jacquelynne Bohlen

Randy, I Colorado to could you wonder if speak market. the

Just recent any market that that? your what with movement there? be you’re flow of the targets take able in deal are now of banks expectations there given if And potential dislocation and some how of for the you advantage acquisition larger there seeing happened kind might to

Randall Chesler

Yes. No, lot the certainly size there’s I like I’d think market. quality bet a like we’re with there. of extremely activity our We the the franchise. of on happy say, of it and we the

least, talking well, who at us. – think, to feel preliminarily Dave there that’s Liam, Boyles, and what’s there, in both will is our benefit I President we actually happening

larger both think, becoming the bank I community decisions that is in really good that should bank a are We and bank employees attracted are like on market. us. be community to – in who And a model and operating customers makes for very our local the it’s ground the is

about good those feeling we’re transactions. So

really expanded options, there a like de lot platform basis. happening and can we of great It that got good we very things all stable of with novo was strategy. that a feel They’re on seeing a good because We’re have lot grow. a

to with our novo So lot there’s franchise, grow as through at as well looking organically and Peaks acquisitions. other of de a Collegiate options

springs at Art into to good all cylinders the been years, up covering is many well, and growth Juans. Our western other they’re in And of slopes the his for Pueblo, in and really there. really seeing all and Colorado place have Bank firing down really quality the right, a of lot team San bank doing

so lot upside happy So the of what State of Colorado, we’re very a see. with and in we

advantage. to bigger works that banks think And acquire they some the of as I our get

Jacquelynne Bohlen

in Would open to you any talent be market? available acquiring the

Randall Chesler

we we as Yes, Liam a have looking actively speak, openings, of for I know number fact, in is folks.

So high-quality and we’re talent. looking we’re almost growing for

Jacquelynne Bohlen

one a That’s Was roughly just non-accrual in movement? that on update. any $X helpful CRE loans that with quarter. that one The thanks. last And there then million reserve placed were associated specific for me. very Okay,

Randall Chesler

Jackie, it? I question followed ask I’m the sure again, not again, So,

Jacquelynne Bohlen

The in real specifically larger quarter? associated a provisioning, increase the it bump-up to the commercial the Did related estate NPLs reserve in one loan. specific with the have

Randall Chesler

that. to going Barry I’m So let answer

of know – I we reserving. Barry, details But cover you that. don’t and the into the We’re how I’ll go let much

Barry Johnston

Yes.

Jacquelynne Bohlen

I wondering to specific or you. expect you workout said month for guess, given I droves within I’m the if everything my the reserving just basis so. is, The up, if next that or you question clarify bump can to that, just under that

of in I’m past how quarter? a something So to wondering methodology much this that that’s very change are specific was affecting that rates just versus

Barry Johnston

– I Yes, Randy, answer can that. I

Randall Chesler

Sure.

Barry Johnston

never Generally, I finally never or say off and problem asset brought paid resolved current. a is until

generally any non-performing that methodology is while those So our you reserves, have consistent our as losses will. you current that won’t directionally levels general loans any NPA on potential increase cover stay with to in losses specific

was three of four one of the other try So There the loan or with we stay was just other ones size portfolio. also – we to stay consistent increase. that very directionally our given allocations. significant that And out

a stay basis So we on to portfolio loans, non-performing directionally consistent. try of administering

Jacquelynne Bohlen

Okay.

the next So same? trend quarter, provision directionally do if the to downward were NPLs would likely

Barry Johnston

That would be true, yes.

Jacquelynne Bohlen

all had. Thank Okay. you. I That’s

Randall Chesler

All Jackie, welcome. you’re right,

Operator

with O’Neill. Sandler [Operator comes Liesch Andrew Instructions] next Thank question from you. Your

is line Your open.

Andrew Liesch

morning, everyone. Good

Randall Chesler

morning, Andrew. Good

Andrew Liesch

about there had right generally the seeing side? now you quarter, your pricing are some to in it seemed What anything doing are concern, Last deposit our you on talked competitors funding out. concerning? markets? play Is What

Randall Chesler

It varies by market.

where get probably on we’re that core credit unions some depends little unions a we’re activity. the relationship. unions We more banks lot very, pacesetter. aggressive have strength continue they our they credit fund need the really of of a the to CD and the themselves. of side, on of we their funding see just not the the focused markets. of very seeing in markets more across seen Occasionally, to look But significant other leader, kind as where the we’re And than aggressive, the again, be credit We’re

get – and we’re little getting these so appear of relationships. a others And their credit edges. They peace may don’t the be around core the unions to at

Andrew Liesch

said M&A, going your think deals be comfortable you’d earlier these it And Is moving deal still or year integrations you can then one you well. do seems it like see year, next maybe early sense of Okay. this are you late a the sooner? to doing that

Randall Chesler

communicated think, much that We and No, treated We were in for we track. still to absolutely and employees. want on sure make customers sure That’s right. you’re well we very want we’re do make right. January, big us. to are what back I acquisitions – it We these

really we’re that’s And that growth. we acquisitions processes make support comfortable all the done are And track. on very I and coming sure those that that our so right we’re of along think, still kind those staying systems still, want to nicely, and very and

So, that in good – our the previously communicated. a as yes, for end we of that towards terms something is year if meets would us, think there’s we transaction be of more likely the criteria

Andrew Liesch

you for my taking Thank questions. great. Okay,

You’ve everything Thanks. answered else.

Randall Chesler

All right.

welcome. You’re

Operator

you. Thank

Your Coffey comes Tim from FIG with Partners. next question

open. Your line is

Timothy Coffey

Great. Thank everybody. Good you. morning,

Randall Chesler

morning, Good Tim.

Timothy Coffey

of you’re the but sale really now housing you XQ, had strong quarter the you in Randy, a anything you Did again pull market loans is of forecasting Hey, not to or gain in in? see start that, right on kick in XQ. is difficult any seasonality that environment, might

Randall Chesler

compared were lot it’s look remarkably with a just a a not That’s – we our ago activities. very, I mortgage shifted mean, we when very, business. and at very it steady much purchase to we’ve seasonality. I It mean, year to was where we’ve very of happy

there. So reflection didn’t very, very seasonality. of to bucket that. We with just another really to kind anything a That’s one our from of happy get pull

Timothy Coffey

What you grabbing how Q, earlier just other more you a base on focus building the about growing bearing more of provide then on relationship. focusing low-cost focus your deposits color can you in and starting mentioned the this about you’re talked on And deposits? non-interest Okay. on to core

Randall Chesler

terms I has franchise as and here I years this are And it’s we going little saying, bit. deposit to create and other it. build. – we going transactional to relationships. talking about, around start decades core Ron culture to isn’t chunk mean, a It they’re been and we’ve to people the travel been about been for and – of – core build our kind years. like culture This in they’re of a – takes talk – the I think,

as stable now for shine. same on a going And the you tide easy money, is And very it’s so formula to just can it’s that’s starting really very, see, base. It’s the out years.

only really on emphasis more we the that side. is non-interest added recently So the thing just

down we out. grow and rates and, where There’s a the continue we that it. that strength over I to could that and given our opportunity commercial may to attractiveness and thought so year said, sat of go grow very good we a and And given and like thought turns just it given ago more very, there do that

Timothy Coffey

might of question. non-recurring Did have conversion be in And last as M&A a for dollar tactical a amount Okay. expenses one a XQ? what well kind you

Randall Chesler

speak what’s expect I so we of there. thoughts of in that? as don’t Ron, terms is in some on that let I’ll to think so. But what Ron play that. on think I comment your

Ronald Copher

conversion conversion what we how we was – conversions – those I Yes. go. our date, know know exactly the but

We are planning.

We test. have advance. do in two or We three weeks

a just best But for And we is how know just give perfect, you that, a would to know no anyone. so, that that go. conversion quarter, be things depending of as upon at but XXX,XXX round can the change number I should surprise

Timothy Coffey

are all questions. much. very you the right. Well, those Thank Okay. All

Randall Chesler

welcome. You’re

Operator

you. Thank

Your next comes question Michael from SunTrust. with Young

open. Your line is

Randall Chesler

Hey, Michael.

Michael Young

the Hey, taking thanks for follow-up.

Randall Chesler

Sure.

Michael Young

for Just trade issue this across like or just you border of that’s done Any at one guys going kind have of review travelers the question point, just that of a feel you? just – be not any anything on portfolio tariff chatter. on do kind impacts like kind of any you the or of or of kind an macro influx U.S.-Canada

Randall Chesler

question. do about Well, and travelers. there’s tariffs – to we’ve talked is components yes. your We a two think bit One I quite

the the to friends Canadians. Our North,

We We tourists. up here is the Montana very the they that and do driven food, the way at market look Whitefish, is any tourists on they tourists, and right there. by easiest look The receipts at locally seen issue year-over-year. tax our look Canadian lodging call the it Those tax tax. – probably that’s at we the haven’t the – we

our at grow So tariffs we people in. don’t really looked see if coming see On and haven’t book seen any affected tariffs, that crops ag material of to really any kind we we on impact. the closely a the impact of we

region. Of they’re are that grow changes crops our this Midwest course, things in we more point, conversation. crops But dynamic pointing to that at than whole the to conversation

– just to they of And With apples talking our Lake a And Mexican in not that those. an Chelan of markets the Chelan. new opening still there’s President Charlie actually, trade the those much have exception on and of small in They’re we’re up surprisingly. seen tariff offset particular and Guildner, because of there exporting impact up bit they’re to they lost tariffs.

impact this kind much seen tariffs. point, So of consequence just of overall, negative I an to the of not we to any have have related at say

Michael Young

Is hotel just for CRE guys Thanks you or two this over those then that restrictions years, cautious And sort food there, growth outlook updated last multifamily I quarter on think, you couple obviously, quarter. great. more Okay, that relaxing and on also been any any of groups? of the have color. maybe, finance, strong

Randall Chesler

changed all. No, our point we on haven’t of those at view

haven’t either We We very ones may, we not another, think, still our on cautious really position have of kind limit. as net those increased do We’re really off, have of and roll but don’t conservative. appetite our categories. I – still

Michael Young

Okay, perfect. Thanks.

Randall Chesler

You��re welcome.

Operator

you. questions further this like call the I’m to Randy over no remarks. showing Chesler back to Thank closing I’d turn at time. for And

Randall Chesler

right. fantastic taking the and have in. and We time a for summer. again, weekend listening dialing thank it. And Well, enjoy and wonderful you appreciate All in

it Finally, as hit Thank you so enjoy here, we well. again. will

Operator

you does a you gentlemen, thank disconnect. have and may Ladies in all conference. participating today’s day. wonderful This for program, the and conclude Everyone,

Glacier Bancorp (GBCI) 20 Jul 182018 Q2 Earnings call transcript