GBCI - Earnings call transcript Q3 2019

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Operator

Good day, ladies and gentlemen, and welcome to Glacier Bancorp Third Quarter Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we’ll conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Randy Chesler, President and CEO of Glacier Bancorp. Mr. yours. is floor the Chesler,

Randy Chesler

Don All Byron our right. for Kalispell and you our Credit Accounting Financial Good morning Angela Chief Administrative Dose, Deputy our our Credit you, us today. Officer, Treasurer. Rusty. Chief Officer; Chief joining our in Barry Ron morning, our With Chief is Officer; Pollan, Johnston, thank Officer; Copher, Thank and Chery, Chief me this Dolan, Administrator; here Tom

today, This thank and fall. for first Let quality very interest you deposit steady growth. net enjoying our joining us margin, strong strong you’re all the good growth, hope loan me and Yesterday, third for all quarter was quarter released credit we improving with and excellent XXXX us results. a performance

we for in are the of later interest interest haul. and build rate innings company balance As the we team is to to long through headwinds call, sheet for we the banks, recovery, a market despite strong, are long-term quarter’s last in the continuing feel navigate the noted the and challenging the environment. current the well-positioned Glacier very curve, we rate And

related acquisition. over year a X% Heritage million, the the Without third have expenses the included million $X.XX, expenses. but Some quarter quarter. the of Earnings million were Diluted to $X.X accelerated the million share and earnings prior from quarter, were quarter, $X.X decrease of XX%. vesting increase options of prior Bancorp the $XX.X third quarter acquisition year net stock the third increase prior from expenses, highlights expense income would of this of for $X $XX.X the or an been compensation including acquisition-related the current from or acquisition-related X% of million, per over year an period million $X.X

or balances X%. grew On year $XXX X% Organic $XX a loan annualized. full or million balances million increased basis, loan

XX% or million non-interest growth $XXX organic growth deposit strong had deposit core annualized. We was And a of million annualized. also $XXX XX% very organic or

exceeded expectations. growth deposit quarter’s This our

margin X basis points of for of Net quarter. earning the X.XX% interest quarter over prior the assets increased

from Excluding X points the X.XX% quarter prior the quarter. margin basis accretion discount grew points basis from the up from X the in prior X non-accrual interest the net X.XX% XX third to X.XX% points four basis and core quarter in points basis million year interest, from and

to We are to very one be to in of pleased about expanding talk few season this the be banks margin. an earnings able

X.XX% over a the assets for on quarter. XX result as Return was have would the expenses occurred that quarter. decrease for expenses, of quarter, the the Without X.XX% prior quarter, acquisition-related been the basis-point a ROA those during

a a book $X.XX increased share ago. from at at quarter $XX.XX Tangible per year share per quarter value share increased from the and $X.XX prior end,

We per also prior $X.XX regular the consecutive XXXth over our increase was quarterly share, declared quarter. dividend a which X% dividend, of a

Bank next or team with in At Nevada. acquisition, conditions customary closed the legacy the of Bank Glacier with and welcome million. very in of late the end years entrance then, September, to And division Arizona Heritage Heritage Bank XX of And in regulatory the this more early we’re and and total excited State of also Heritage first approvals State of will Bank The we’re and to of closing, close to our XXth of announced combined Nevada. Arizona Havasu, that subject year assets course, July, Lake Reno, division its is successfully $XXX be Bancorp the year. Foothills late continue serving expecting our communities. on into became to Corp. acquisition acquisition we team. we

compared all divisions. with on quarter past Now, generally slightly for elevated was once again production $X.X ended at The well-distributed paydowns a color billion. quarterly the for quarters. first the the third little loan among portfolio more were Loan quarter results. Loan

quarter result a X% organic anticipating quarter, fourth the slower loan a of growth we’re third and year. typically the slower As rate for

While seen increase strong customers of these due with been investments. rate very markets. payoffs we’ve cautious western Liquidity the making generated an to in about taking sellers being immediately by advantage we sellers markets, in has our new those feel more seen continue bit from we’ve reinvested to at sales about the not the good past, a

to customers we’ve adequately pay small rates seen increase we at making don’t the risk some banks cycle. a loans money for at our In in addition, center point in larger think of this

be we’re growth, going So, and to with our the on rate longer happy term. approach with our continue to in eye be our disciplined we’re of lending to

year during Total quarter, compared to decreased ago. XX% X% the to and $XX of Investment prior quarter, securities billion, XX% investment assets end $X.X of year compared flat securities at quarter the total the third a third or are of represented quarter. the the million end the of at

all Once points, in end improved across the third points basis from XX the strength quarter a almost delinquencies of quarter of Early a quality the loan of percentage decrease of XX ratios flat the at to third year categories again, loans reflecting credit were the key in a ago. prior our the stage our quarter portfolio. prior and board, as basis

basis than as the assets end basis subsidiary points prior of basis assets of lower in in compared X XX at third This prior which is primarily loss quarter the increase short-sale. million lower quarter. $X.X and the quarter million, $X.X the million a with was loan the for third the points, quarter charge-offs a were charge-offs a than negotiated point in a net year year one percentage centered Nonperforming resulting quarter Net $X.X ago. from XX to were

an of $XX.X loan increase early the to number be by excellent expect the dollar million, a A working amount and time NPAs we $X.X was proactive an million, continue of the or driven through end we were quarter, million increase $X.X so. credits, the and primarily year. will prior the of to continue more weaker divisions now At but with division the that from to quarter, X% resolve think do We Officers next these to do Chief of credits. is the our Credit

The one-off a loan as markets. a continued a end from and outstanding year our total and This on X.XX%, zero issues at ago. quarter is XX allowance loans our the and third trend. basis losses don’t the for our which of current prior Provision positive loan portfolio see from down losses was in points was reflects outlook as down the for prior percentage quarter and this XX quarters. these loan the We very lease quarter of

up growth core and increased were million, quarter the million quarter. and deposit the or the organically quarter ago. deposits trend. the down deposits Noninterest $XXX from points $XXX from deposits was X strong end to ago. Noninterest-bearing quarter or Core ended X% of XX% third our core up ended annualized XX.XX, up are ratio see million of billion. at deposits quarter really up $XXX up XX to a $XX.X from slightly quarter. cost $XXX year’s are the prior been or X% XX% deposits in deposits, at prior really Total of the year organically growth. were acquisition loan XX% the year’s annualized focused million XX.XX the and to increased some over We’ve The a the time on growing pleased from of current our now XX% with resulting for now from We third quarter, year deposits XX and prior the basis noninterest and share or of a deposit from

XX This deposits low basis the points. The pay of utilized high third borrowings. prior was was down was in that -- points down basis cost was end for cost total year cost quarter XX an the decrease quarter down was by at and of end quarter. the prior The at current of driven from XX funding increase the the to

the million XX% XX% Net $XX.X quarter. X% prior third $XX.X quarter loans million, $XXX and $XX.X Interest or income quarter increased third on or year for the prior XX% year over the the quarter. and prior which million million or was from from up quarter prior million commercial or the increased $X.X income was increased from

been still quarter, margin. now the of last and noted talk lot I forward fast a earnings continuing. As season conversation there’s is margin to this And about about

XXXX, margin, around current operating we’ll band a in believe, continue forward tight to levels. stable in Going core generally see a we

impact will the the ‘XX feel on overall, But to time. well steepness that on at curve the navigate depend margin we environment. positioned in rate of Now, this the very interest through

swaps early implemented of million debt termination the net In net at included Company’s was of early gain Company margin. on write-down the swaps interest its quarter gain the the Sale payments of sale notional recognized $XXX Offsetting early securities. a and Federal a corresponding penalty debt X.XX%, the Loan increase rate income loss interest balance a deferred of million. along pay-fixed sheet the of sale for borrowings. of million strategy $X.X with resulted $XXX and $XX The available million securities termination September, the and Home the during on $XX.X strategy to Bank in interest million investment of

quarter’s we here our our points continue we provide margin support going mitigate believe to will bit margin and strategy headwinds about this last a is of of the X on net rest call, for to XXXX basis talked forward. under So, the that X the of

the is XX% same last XX% and decreased a $XX.X the for million the due the quarter $XX as the related and to securities or attributable charges to primarily the Noninterest to of increase other in increase this Durbin XX% $XX.X from year. and totaled of up fees the Amendment. balance $X.X million was prior that million quarter, or Service the income million strategy. interchange quarter, $XX and of from or sale was result This quarter fees sheet decrease prior million over

increased of and $X.X year $X.X quarter the very activity $XX.X or loans Notably, purchase over increased due strong million over of levels. on to prior third or gain very, and XX% quarter. the This million was prior XX% at sale refinance million

quarter, gain The was Other $X.X million branch the and recognized a gain of result third of building Company in a quarter. $XXX securities prior year’s the million quarter. XX.X the of million prior $XX.X -- million, a the of third $XX.X an $X.X on prior from of was and from income increase year former down sale in a a this the million of sold

XX% XX%, employee over was the prior quarter this million and to $XX.X related million this the and increased organic third and acquisition prior million quarter. benefits increased and for million employees. $XXX to was or and more required which growth stock from comp or million XX% or acquisition year the expense the due $XX.X primarily Compensation quarter, expense and the $XX.X $X.X Noninterest

a was the This Loan $XX by by applied the quarter. credits of $XX.X cash $X.X $X.X Other the flow Regulatory Bank million FDIC million from as $X.X and of loss driven debt result assessment prior or the the and the Bank XX% expenses million or XX% of termination Assessment million prior paydown during Small decreased quarter. the insurance on loss of increased hedges. quarter $XX.X Home million Federal from the in the a of million

prior during ago. year expenses a million Acquisition-related million compared $X.X million the to quarter were and $X.X $X.X in quarter, the

million, expense XX%, $X.X compared increase the $XXX,XXX a XX% to or third in Tax year prior compared the or tax from year was $XX.X decrease million quarter. an prior is X%, quarter. of Effective XX% third to of rate

Efficiency by sheet about, quarter talked the the current primarily related acquisition. that and unusual to strategy ratio events we impacted the balance

been which that in of would the Excluding ratio us XX% a closer the we’ve efficiency XX%, have keeps things, to talking been XX.X%, range about. those

really but we represents Company. on, think this going lot an quarter excellent the performance third a by So,

the acquisition State In and of completed announced operating addition Bank Heritage the strong quarter, for Company delivering Bank of of the performance acquisition to Arizona. the

best. as and them well our teams senior commitment their presidents for across drive market-leading And XX-division with staff would produce as their results. Nevada, and be eight to to the states thank our I their continue So, our like to all now

I’d So, back and now to you to call the any to our analysts questions Rusty, that that concludes turn my like formal line over for open the remarks, have. may

Operator

[Operator D.A. the line question Davidson, open. Jeff Rulis Instructions] on line. from your We is sir. first have our Sure,

Jeff Rulis

Thanks. Good morning.

Randy Chesler

Good morning, Jeff.

Jeff Rulis

aggressive and more your ‘XX, guess, temporary? the kind the how the that you of look bleed you comments for a as We’ve excuse paydowns growth? some I paydowns got end somewhat ‘XX through on, would year. of growth the I your how moderating little see me, ‘XX, balance bit. and kind at of into of But, guide Randy, -- competition or does elevated that perhaps And, guess, outlook do

Randy Chesler

‘XX X% looks these like is point. it of going like of change kind equal point, growth at to kind segue at don’t feels what of expect At factors. We like, this a ‘XX, rates. see don’t those a this X% pretty -- to in into But, huge kind look

Jeff Rulis

sort or macro all, front? that business customers, in any events softening Do behavioral you given the get the pulling to that talking anything that horns they’re any changes, at you’re sense when on just of

Randy Chesler

our customers talk our we No. to a western lot across states.

of our to and what’s slightly. find, economy to little do time. over lot of our make any little to the think, than it’s part they think, very our just want a remain confident. cautious I a as reinvestments. a note some properties, And longtime we experienced a of to long did taken And more continued well moderating rate make in concerns think markets I harder growth that’s other I don’t in good continue making of have sell see comments investments. they’re they lot just my period them has on of a I as customers

Jeff Rulis

if Do thoughts know and don’t update provide, going and a on have I potentially, guys CECL someone or tackle John provisioning else that forward? you could just it. Barry to levels And

Randy Chesler

you him. You want Barry, got

Barry Johnston

Good Okay. Jeff. morning,

Jeff Rulis

morning. Good

Barry Johnston

feel parallel of coming in an And big we’re the overall, to with How have an seeing, project we’re is? that be impact way that up Bank through we given of will it’s reserve at went accounting it. on where a the going. there the reserve moving at target, always that the since We March. now, impact there structured implementation, be fact totally been course, a is CECL what want with the State with, the Based we to model from there the we’re It’s six still numbers Also, numbers. end. still have where that year increase running numbers. we adjustments But, Arizona our yet -- compared is will we that the soft different about number. that where the isn’t runs we’ve acquisition We runs

kind pocket of keeping get that loss we we’re year-end to until hip incurred when model. our run So, last just we in closer the

Jeff Rulis

last one okay. Thanks. see, And I maybe one.

going Just on the expect gain thoughts robust, that’s But, pretty seasonality. and your of maybe the quarter-to-date year obviously, well? any we’ll mortgage sale, banking kind on out how some thoughts as on

Randy Chesler

No. Yes.

strong pretty us look very volume, strong continues -- terms to quarter We’re coming very of quarter. in the very, record for into happy, fourth

as quite strength our not as third good probably but So, strong the quarter, across board. pretty

-- So, see we we see continue should some strength good there.

Operator

Matthew Piper Clark our Jaffray. on the next question have line Sir, we from from

Your line is open.

Randy Chesler

Matthew. morning, Good

Matthew Clark

this sense for sold? on Maybe the trying securities morning. Good what’s the just get average you first Can give what portion to one on the sense kind us weighted Just sold that of books. on a were off rolled a the that for relative quarter. yield was still that to

Ron Copher

it’s Matt, Ron. Yes.

dated lower we weighted We the of yield was sold The the acquisition. Heritage munis, of few. predominant So, including but portion securities, just agency X.XX%. what the from of was sold the average basically longer yielding some that agencies we very the some had

really terms yield when haven’t came down of the portfolio look the X that, over what quarter. points, of overall, terms of it’s in cash much. we’ve QX at pretty you we would that. So, take it changed at with life, basis position. done about also weighted the in maybe But, just with average And end built duration, that reinvesting the I note metrics we’re QX. second had our halfway of The consistent

have. we pay cost that to still got we reinvest even deposits some higher down hopefully or So,

Matthew Clark

or costs, in do Okay. pressure rates? then, of still And stabilized this pricing you upward pricing just there’s exception in you deposit some at have on deposit like terms point, feel

Randy Chesler

lot less rate interest We’ve Yes. exceptions. probably pretty I stabilized. feel request seen would say, a for

always say, is stabilized But it’s kind generally, -- down think bit. bit. quite I of one-off the I’d So, has settled the Matthew, a a still circumstance. quite There market

Matthew Clark

and on general, might million lumpy there be this sale. complete And we process just then, done credit to that loss on Okay. work cleanup the in short $X.X the charge-offs see Is or at is charge-offs more some largely point? where here

Randy Chesler

now my don’t now, to pop a it in -- the felt while, we Yes. But, to just been had of get and been We the these probably it. right We number a the work. little time proactive some deal just is And, for don’t up, the a our -- credits to in see more point of we a kind comments We think pipeline biggest was don’t see continue have weakness. across that. still and made trends a to quite now is work we exit don’t was credits good credits. one that economy through were, But feel of strong with weaker had in to again, operators weaker the kind The of with -- bias past. portfolio proactive more This time a years. see I portfolio the I now are we for with them, right on we of those don’t a with issue basis, I troubled lot in be relatively weaker of see board. may one-off of but a

if see to more us a can’t So, bit distance, in little that proactive. folks be we we carry think we’ll the

Matthew Clark

And looking to an one, for the the XX% that Okay. XX% year, process just efficiency operating the range work still through ratio on operating within as kind in budgeting last of then, manage of basis? XX.X%, to you are next you

Randy Chesler

Yes.

Matthew Clark

you. Okay. Thank

Randy Chesler

welcome You’re .Rusty?

Operator

sir. Yes,

question have We our from Gordon from next McGuire Stephens.

open. is Your line

Gordon McGuire

were have expense there the come looks to look items, decent think I hires, back just just up whether more at, attributed wanted I little know cost a efficiency before seems some is compensation saves in? run a assumed what some the whether it to it wondering on line, for I but elevated. this So core out about new If about up which million, question with or I’m would the rate to just follow $X the was compensation bit next acquisitions you unusual the quarter how levels. to I like

Randy Chesler

Yes. that with No, brought pretty the items increases there Layton on I in close seeing think And and there. we Heritage were with no just unusual Bank, other acquisition together. you’re then

So, be to -- for should -- good a now, be the then seen should have you a pretty it run rate what future. good

Gordon McGuire

just credits, are FDIC And the those more Assessments to clarify, Small Bank one-time.

once move guess, are a million closer to expense the $X I should credits regulatory quarter, remaining applied? the So, back

Randy Chesler

and up then when really, give probably it. Yes. be We to to of quarters. that’s next levels. that’s don’t the credits. fund to are FDIC end going It’s But, going of once it’s completed, they the us over the know couple the But their

Gordon McGuire

the way Then, last trends Is the that up from kind X basis, it the on core quarter. just On help you any first over But, hard points me, us yields. one what the quarters from it’s and rate a yields. are, environment which over acquisitions, the they’ve basis? given just the loan came I out impact underlying been there from about a to think higher for see me think on next at repricing a few legacy of tease basis

Randy Chesler

Let’s see.

And at out So, with we a they loan loan are brought little we that pretty -- if both some you’re looking lift did have on, yields. we the acquisitions of well. the getting yields, done bit higher

So, positive. that’s a

repricing, On know, to want the comment you think, on about I impact of the the do the repricing. question I Ron, don’t that?

Ron Copher

Yes.

look floor third and quite a have in this We We in fourth lot protection. quarter the quarter. the of at

in So, new production what got could that holding coming lot repriced. definitely the lower. up have are we’ve yields But a of

margin, defy can But, you X.XX% that We’re not loans X.XX%. gravity. went at look see in keep the you up mind, to to overall the from going when

recoveries. there, you non-accrual see points plus So, the the basis on the X interest in accretion discount will

Randy Chesler

floor is we the three XX% in I just of has or fourth the on -- protection. in And keep one when is floor or the of other. a at yes, portfolio fixed either look about the some -- think, protected the way quarter, book the So, has floors, mind, quarters

Gordon McGuire

it. Thank you. I all That’s Got All right. had.

Randy Chesler

questions? You any bet. Rusty, other do we have

Operator

Yes, sir.

We have Young Michael SunTrust. our from next question from

is Your line open.

Michael Young

drop loan first coming on given new XXX five-year in on asked, yields yields question the basis-point that back was last year? to new just just production the follow since rate book, I relative wanted the production. up the Where to on just

Randy Chesler

Yes.

call X.XX%, in quarter well. that of prior at the the range. loan production yields X.XX%. between come X.XX%, They would Actually, thought just just in right that north said we we’ve pretty came So, it’s in in

And that downward So, that’s still we’ll well. we held our think as that see tribute to floors. a pressure. up of some Again,

very price portfolio. five-year So, three our ago, lift or little in back Bank back the Federal are, to two where off of and going terms majority of vintages the the just the we which book, given years rates Home there’s Loan tend

Michael Young

Okay.

So, new spreads essentially, getting on just you production? are wider

Randy Chesler

Yes, where we Yes. can.

Michael Young

of strong. growth also of with Okay. higher seems wanted the slower payoffs, on remains to follow And deposit the up just it kind loan still comments very growth then, like but

deposit from how how you thinking going that that of So, or think the perspective we go securities that? book, into about sheet? are to should strategically funding kind the balance about a on mix incremental Is

Randy Chesler

growth, think we’d seeing we’re like I think, deposits and incoming to I loan see fund now. that

So, extent a sheet, we’re now have balance. go the to debt most in excess portfolio. towards reinvestment off cost terminated of balance pretty and the have will of we yes, But that the kind the happy to any high good

Michael Young

Okay.

could loan would little see little be potentially? faster dollars compression grow from positive may but than the NII growth, bit still it margin we because balance some shift, sheet So, mix a a

Randy Chesler

Exactly, yes.

Michael Young

a one on Bank or updates or just an -- acquisition, question last then, timing around on maybe State closing just conversion? kind of cleanup on And Okay. system any the update

Randy Chesler

regulatory early Yes. probably out, next that works timing. Closing, would year go year this of that’s late timing right and kind way. think, have under look. approval, the or to we through I And is we If

same the to We sooner announce banks new a and of spot we both the do to when end we because customers those we them, of conversion -- two transactions. than generally bank later markets we towards do have have where of trying later, And quarter. banks the a from first open acquisitions have going like to rather the kind lot in

rather So, than the sooner sooner, -- those we do later. to generally like

Michael Young

tax for last rate. one And Okay. just Ron question on the cleanup

be rate a meaningful the adjustment. any should don’t to it’d think we change expect? the that restructuring, tax With securities I But,

Ron Copher

that would is but think, Part do at better. XX%. saying I’ve going that’s pretty to tax started up, It to able is to we’re credits I XX%. been had and good been more hold move we’ve XX% be some it of a benefit. that

Operator

the question our next Sandler have from from Andrew We line on O’Neill. Liesch

Your open. line is

Andrew Liesch

follow-up You’ve answered quick all one nearly though. my questions, just

have and the if paydowns? amounts dollar of loan the you dollar production the of curious Just amounts the

Randy Chesler

We you high can here. give kind level of number a

So, between production million $X of Payoffs between somewhere and right billion. that million, around was kind ballpark. in $XXX kind of $XXX --

Andrew Liesch

Like said, you. you. much. you’ve Got Thank Yes. I covered everything else. Thanks so

Randy Chesler

bet. You

Operator

of Our next the from question comes line from KBW. Jackie Bohlen

line open. Your is

Jackie Bohlen

of of deploying if us could going maybe provide target the I range Ron, some wondering cash, some know mentioned Just where fluctuations purchasing securities thinking with portfolio securities know that an to and to you you’re just be thinking about to where you’re to going assets. given about some but update, you a you wanted the in as are ratio forward?

Ron Copher

you heard now, more, I want I XX%, up no best it I’m just goes can that below cash loans, see right the that’s to number comments. XX%. excess you’ve the -- but go think Jackie. the give going could hoping I don’t into I truly

Jackie Bohlen

Okay.

So, pretty from here? steady

Ron Copher

Yes.

Jackie Bohlen

just with each I all other. actions NIM commentary that different play then, how And sure to want understand I those and the in make

to the effect, and the flattish. essence have next offset rate margin other the from fairly So, essentially, the the of quarter’s you actions will will environment keep message? quarter, full positive you’ll took a adverse because that September in get Is that those the some in flow-through pressures

Randy Chesler

right. Exactly

Jackie Bohlen

probably broader for and you, Randy. And just one Thank then, Okay. one you.

just you’ve excellent announcing So, deals had with rapid in fairly here an and in terms closing year succession. of M&A

anticipate and acquisitions? place you everything everything. future -- this most recent about If integrated fully XQ in just that next closed, are closing updated ready into How XQ, thoughts takes the and conversion on one you one your have jump get Is XQ. you’ll one, you feeling do be XQ to in to if

Randy Chesler

this working job integration. of to Yes. a transactions, the them doing and has Bank, and and on And $X announced now with was billion for close First then I Bank think, this in State Heritage team, the and Layton an record those transactions assets. done closing -- No, three terms the so, incredible us National in with of year

I doors think, we continue open. have the to

good to to to to if banks, that on act opportunity right for feel, we our and good could people. folks. continue year. something We the talk just that’s markets, But, market continue the we’re is We going best, next there really disciplined the look approach good

So, team it are mean -- we another is just of flow. see. to at on difficult may point what sharp. one the that the mean -- just terms that are we we deal to is the But, -- table, not tell like It’s quality muscle on in of is may seeing we this the memory acquisitions

And we’ll a we ones through we’re take have. appears, the very at something get so, I compelling think to it. hard look if going And

Jackie Bohlen

and Okay. And closing? how does the implementation timing announcement of CECL have any effect on you deal think about

Randy Chesler

would And longer optics these going quarter Jackie. how it’s our CECL No. a taken doesn’t without. look not make you to term when and other than with look it a change acquisitions. the about how and announcement, We’ve of modeled We’ve that at messy feel out, we strategy -- an

Operator

from question Janney. from Tim next comes of Our Coffey line the

open. is line Your

Tim Coffey

look you of those competitive kind do interest-bearing we something that at have the opportunity the you in standpoint? from quarter? as an to market a reprice the it deposits, do, Is Randy, opportunity your is next to providing

Randy Chesler

deposits, are think, pretty core The stable. I

went came back kind saw rates our a contract you think, a our customers. up, of lot run And that’s we when when didn’t move didn’t down. rates with move us I -- lot

I And there. steady much really don’t change see stable. We’re a

Tim Coffey

there is XXXX at? least pressure that to XXXX, into you next ratio, level to bit keep be of you it there is the want bottom level to regards going little here, in stay Because would a a a like this and quarter. at? to at that to able go be But And Okay. loan-to-deposit kind you it’s a under looks of kind that like

Randy Chesler

the quarter Well, with improved Heritage. addition loan-to-deposit this of actually

probably We’d like real So, right It’s big and in higher it’s now. to this, range in that. forward. like if kind it the going keep to we XX% under a in now. the right happy range see don’t But, needed go see of it’s in to. We that change

Operator

[Operator the comes Our Jaffray. Matthew Clark next of from from Instructions] line Piper question

is line Your open.

Matthew Clark

Hey. we we gross could the the million on quarter. Could $XX.X it -- you could credit just give last just so up loan us was portfolio, reserve-to-loan mark ratio? so I think, the

Angela Dose

mark This million. this is quarter Angela. credit was $X.X The for

Matthew Clark

-- acquisitions around million you’ve with done, quarter? $XX recall all it’s being the last it the -- On

Angela Dose

-- total Yes. discount we have Oh! We want to the amortize. That’s million. total was $XX.X what left the

net was mark loan discount portfolio of quarter, with the $X.X X,XXX. minimal. but had It credit that was about the During million, only acquisition such acquired was that the rates the Heritage, great

Matthew Clark

Okay. Yes. the XX.X. I was looking you. Thank for

Angela Dose

Okay.

Operator

turn [Operator more We I Bancorp. President call would CEO like any to over have of and Chesler, Glacier Randy back to the don’t questions. Instructions]

Randy Chesler

thank for All weekend. right. us. in time. on Rusty, hope call And the you you a thank today. Thank I wonderful you. have taking all And we really dialing joining you the appreciate you everybody for

Operator

concludes gentlemen, joining. conference. Ladies wonderful for you and Thank this Have today’s day. a

You may disconnect. all

Glacier Bancorp (GBCI) 18 Oct 192019 Q3 Earnings call transcript