GBCI - Earnings call transcript Q4 2020

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Glacier Bancorp Fourth Quarter Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to your host, Mr. Randy Chesler, President and CEO. Please go ahead.

Randall Chesler

right. All Angela. you, Thank thank joining and today. you morning, us for Good Pollan, is Kalispell our our With our Dolan, Chief Byron Don in Administrator; morning Chief Chief Treasurer; Ron Credit our Officer; Administrative Dose, me here Chery, Angela this Copher, and Tom Officer; Chief Accounting Officer. our Financial quarter full review those XXXX released and earnings, we Yesterday, and today, our results. fourth year we're to ready and quality and core of year demonstrate attractiveness company the of team, quarter results full fourth business the The our strong Glacier the the model. the of really

have customers We year. of and as are at are their the our pandemic, most extremely presidents navigating through well adjusted the have the carrying demonstrated this very service commitment, teams staff XX on our ongoing that leadership Glacier and well our I'm Despite pandemic well, their the the senior to to as and of really circumstances their company business. bank holding and proud for with they team, communities

Our conservative record our residential levels in operate home value performance commercial improve. the lending to strengths demonstrates mortgage and of credit. our of and new and The the we continues volume of markets purchases, loan with approach portfolio business refinancing to which is our the at

the the strength add markets. of and again, pandemic, the natural were social strong we of markets environment that signs cost only less West. people, to year fourth attractiveness full exceptional customers of by urban consistent will markets highlighted our quarter the the our and business-friendly and with life, results distancing Our Once low before driven the seeing quality good comes And of are living. that

XX% decreased Noninterest-bearing record the a was earnings the earnings from prior fourth core for per For fourth prior Highlighting million, revenue increase million is increase XX% quarter. from XX% deposits year XX% the PPP the The PPP which ago. Payroll SBA, was forgiveness. of and organically the PPP basis Program Protection $XX.X quarter increased loan points of million in of to the to loan decrease quarter. resulted excluding loans, was basis very Bank loans, end $XXX XX% up an of total acceleration XX applications or the ago. a to loans. pre-provision which of or which quarter. quarter year quarter. portfolio as million XX% or were XX deposits million year over Core team million, the quarter portfolio, a net was quarter. to points company's $XX.X COVID-XX Nonperforming or $XX.X the quarter. The end Net of was quarter deposits increased in a assets excluding X% in XX the quarter, in points due loan share million core efficiency forgiveness $XXX prior or $XX the to last $XX of of modifications strength, The PPP related compared the XX.XX% percentage a deferred compared from year pretax, at basis or the net busy prior million fourth reported million was to $X.XX, loan this fees $XXX income $XX.X XX basis the XX.XX% assets we year a of the compared points submitting to at the ratio

share. $X.XX quarter due primarily basis dividend this take the dividend fourth ratio quarter, a out ago, year paid of XX and XXXrd consecutive to our the declared loans PPP represents quarterly the XXX impact per the points compared quarterly a of regular compensation. We performance-based to dividend This you If efficiency the increase. and increased

per XX%, year increase special dividend. full first PPP earned customers of $XXX income we for the per the $X.X of our the be have a expect XXth of year in gain the believe as we revenue loans XXXX. record remaining, loans spending housing policy. full or government Core the we're share which closed share in lot XX% stimulus in of now result program, of increased Arizona for $XXX or over income, $XXX Arizona pre-provision unprecedented almost on year recently year million. acquisition SBA's the not we $X.XX, million And is for XX%. assets record PPP $X.X $XXX sheet $X.X record acquisition. with XXXX. $XX.X $XX.X Loan a of net started and basis, prior of program. increasing interest The due Deposits deposits we Bank received billion, loan customers' materially an the noninterest of of flow stimulus, of by as the were increase $X.XX. end be year, amount unprecedented year for $X.XX expect billion the a share, million, levels, stands in XX% to - we monetary of took of PPP million levels The an year, for share The balance initial of versus but our net an our the resulted $X of Pretax, at record dividend originated from year. reduced our growth on per a was year and in growth, Arizona at later million our circumstances early bulk program was pandemic special franchise. deposits that It debt our and growth, deposits with refinancings increase $X.XX million dividend, year. federal deposit sale a the over the the from and for X community this regular with $XXX we the billion. was State for million of customers to saw PPP prior in $XXX loans growth net fiscal to increase for adding million, prior full invested improve. process to of a as which organic prior billion some declared And PPP of time with also a with of per at were footprint year. We've banking We a $X.X prior earnings the these over which XX% record primarily in or of the including million the X% XX% and record and we special or deposit phase calling securities increase dividend during represents in year. across market XX% and from will continue the billion we loans billion customers to $XX.X prior waived On to if Earnings year an Total this or the loans over the We fair program spent XX% resulted of increased see $XXX SBA and forgiveness our an and began it XXX% an half forgiveness the declared a PPP XX,XXX organically in which year of

from year-end The debt of year-end core the represented increase is our the security of Debt We the securities X.XX% securities in debt $XX.X loans. which return on the forgiveness the over PPP prior the at liquidity at assets excess XXXX. of X.XX%, year. impact longer end lower interest from increase with year. XX% compared $XX.X securities prior Debt the deposits XX% reflected at rates, SBA million for of an million, of total and continue to income XX% was to ending down or at purchase

as investments, given new to approach a of cautious point a result, liquidity. while a some higher short at risk low life outflows. taking And are deposit average We maintaining rates, targeting and we're current levels of

PPP to driven Noninterest yields enough income ended basis at recognize decrease points the expect the prior as fees deposits million the the X.XX% total X.XX% which and at on in XXX% interest mortgage the XX% prior pleased or billion, end year-end. from loans including X.XX% to an We We at the hold and the to of year basis to core end year the the Interest the the the X - phase on portfolio forgiveness fees renewed margin from very XXXX. of continues production. to of year in With from loans year. was and over to from XX which we of difficult the $XX.X And deferred reducing full at prior a wasn't cost the the Total million year-end year. be drop SBA - primarily which rate million, the and over half strong. last X% we in from at on loan the of of it million an environment XXX% environment. continues saw The were as from margins X.XX% due which was of bulk of basis we X XXXX. points Net of the record in XX% funding X was rate Our and the forgiven. $XXX $XX loans interest first the which of PPP interest debt growth, cost interest quarter income, of successful $XX Mortgage income Net due the while all the loans balance by XXXX Pricing net at the And XX PPP at as XXXX, ended XX cost year the over result, to new refinance lower we're basis end of business qualifying versus of or sale in points recognized to our yield remaining was was on - see $XX loans income on deferred from portfolio accelerated net was securities. margin the gain loans rate loans. increase to be costs the XXXX. to increase of decline included were X.XX% and million, of XXXX. booked note was XXXX. down million million, purchase $XX.X deposit core points, X.XX% are the $XX.X funding, ended of outpace XX $XX to compared remaining

In basis ago. of of with of or basis $X.X of decreased at an end was expected our points demand, addition XX to loans loans factor much versus which in assets, was and at Delinquent X the better performance year, XX nonperforming assets X uptick And record year. points to than Credit were million saw was out-of-state the of points year, a a $X.X local originations. year compared year. in last to the we the basis last were of million loans million from or basis charge-offs net loans down basis during throughout points buyers, which number XX XX points $XX.X

to response of PPP in During the over modifications the loans year, the concerns portfolio, that totaling loan made we on to billion, representing note loans important $X.X It's that XX% COVID about performing loan X,XXX over all basis excluding and received $X.X excluding portfolio, as we or were agreed points all PPP billion short-term the before by modifications. were modifications the a them decreased modification, At loans. gave million $XX year-end, to of modification XX loans.

enhanced the year PPP of portfolio. in the will enhanced hotel, is for motels, any of enhanced of or total rigorous expense with gaming, $XXX million continue that global pandemic. pose credit total and risk ended issues our to the year-end, addressing status X.XX% steep think modification gas travel, not these million million The we the across modifications continue we to with portfolio, the under amount industries of process or continue loans pandemic. X.XX% higher loans. increased our loan with the only we economic This at tourism, caused businesses. monitoring monitoring monitoring approach reduction at foreseeable enhanced in was we $XX higher industries with by loans Credit driven We to includes oil the and by for monitoring our restaurants, only our the loans future, including portfolio. saw of due We risk Even and $XX risk managing enhanced year proactively the the monitored loss

compensation until as certain levels we which circumstances at stands maintain was XXX% are million We economic Total expense as which the loans, X% driven $XXX due expense million, mainly $XXX caused loans, very our PPP total of see by well and compensation increase by employees a approximate or loans, more $XX.X XXXX. year. or increased from environment. X.XX% noninterest increased over X.XX% of given more level allowance of not adequate prudent we including Our these impact to record performance-related The expect this benefit is million COVID, result loss a acquisitions credit uncertain was our and for of as to the and a believe guaranteed.

an was year the year, to $XX.XX improvement compared efficiency million. the efficiency of the ratio prior XX.XX%, For

the XXX of in prior prior loans, termination at versus PPP year-end Tangible efficiency hedges Excluding the of basis $X.XX $XX.XX cash the impact any increased versus XXXX, common the points per book flow value the from the impact year. share year. ratio decreased or XX% of

the up Our in to An marketable window borrowing again again quarter, liquidity demonstrated even borrowing far remains at million. liquidity Federal other The banks due and underscoring Glacier so, the and available Loan at robust moving from Reserve of Bank, correspondent sets $X.X from team, billion their other and was in communities Federal Home difficult #X. securities apart the in billion environment access performance Montana industry. team. million eligible in the growth $X.X company another to in XX, all in deposits, the is of $XX and in over pledging leadership borrowing to capacity. outstanding end to unpledged had billion increase best Forbes At X,XXX once cash of and for XXXX. Overall, once to PPP and Arizona, this discount And banks given includes addition announced Glacier XXXX, This performance liquidity. fourth with and more was the additional strength, $XXX yesterday, that capacity from from America's broker And Bank. core $X.X liquidity $X.X for billion the at extraordinarily access deposits Home the just an capacity bankers sources, including to of XXXX billion commitment, in unused $X.X capacity the securities and Bancorp facility in in the Loan top loans with $XXX them operating over-pledged Federal the at billion

for and have. my those I'd questions any end you So formal line like that to Angela may now remarks, open the

Operator

[Operator Instructions].

Our first Davidson. with Rulis line Jeff from your Clark question Matthew of comes And the Sandler. Piper from of is with next question the line D.A.

Jeffrey Rulis

Could you hear me okay?

Randall Chesler

Jeff, yes, we can.

Jeffrey Rulis

Okay. Great.

looking thoughts the Randy, sort quarter. nice the opportunity year, last some organic at just the your growth the interested narrowing that to the half typically be growth down in organic just of of back overall, in your scratch be. and So 'XX? of kind growth - back of out quiet But frame you maybe areas up would that to might way footprint what for leading year of you think And think in expectations

Randall Chesler

organic parts are X% year, inflow the There have than Arizona, will from the that an of think - almost of just have some footprint incredible out-migration growth They're state. the getting next around is double-digit Yes. X%. in California. of - that are others. half particularly somewhere low more markets particularly The growth having we migration, We to

extremely So and growth in as are some the for out-migration. solid Reno they well business our very Nevada positioned to as from gain continues well

the the growth very of And very growth. expect strong our rest to looks solid. very, some So we see footprint,

laggard have than states as we a bit of And probably among our don't stronger states, all a other will think a that X couple we move we be forward. so

COVID Colorado, solid, very the to is do do one well. markets circumstances that's lot perking to Colorado, business. is as see very Even COVID very to you'll - Denver, other well. Circumstances particularly with as improves, that move, Idaho are very, continues as too. along. of our Rest well. a very want I companies market to continues Wyoming respond you'll and Montana, a see think very The start attractive of -

that with good those we're accent then about little markets our a through. markets went I So on feel all we - and

Jeffrey Rulis

- acquired. price of but from - thinking we I'm we just organic open - M&A up, once check-in and think sporadic you as to on you maybe a kind Sure. a impediment just seller Appreciate as some of M&A and do are group, this of some And specifically do from rational - out that's a look few it big you pretty what on discovery? think do And is points activity? thoughts kind broadening banks, going crawl the you think it. or More guessing - price you to a about then eventually, see to had expectations you think with you've could be maybe

Randall Chesler

due number in that. And most think XXXX I the Hibernation a of It's we in data. I a step yes, yes, take group to they're to starting really do factors rational there's that to of think out will Well, the was pandemic. M&A market M&A. I think of have to respond back. for come But a

- have conversations. We are we've we a number had of -

of kind some where So people I indication we good of real-time have think are.

with we've I think reengaged that folks.

So so of on franchise very recently door with think months I people on last their reopened on and couple the step business a taken M&A. back everything just focused over that they've have and the been going now

So we've got a lot of good discussions.

be we're 'XX. and there'll get some it. I think a I less that in trying M&A to in probably banks 'XX going the into see and more couple of people to are Number factors one, experienced think

actually our one and opportunity we result forward. model 'XX better transaction the sellers. people currency, quality community a where a served and attractive have bank expect Number past I could made a I things expect that as offer crowded. that more expect and, and us extremely get in business so price because variability result, the lot a for two, will But of I end, inexperience be of identity market. And very some our extremely Number a same and where there isn't I the be will it. of little its have in in unique it people of do think of a would of the successful some to play as is be going disrupted is the in maintain into the the to the

that unique very can't other most So do. companies

the job help think approach start going will price to the occur. in to But to discovery I up. We're I to marketplace. So the has think engage valuation. a disciplined to have. period with discussions, sellers the probably going banker we're part about talk really of investment with And always And here think very to I the where pricing is and M&A sit really that But that's our it's initially heat going those to discussions. of we in as that a maintain little of to seller down fair guide a lot

Operator

Instructions]. [Operator

Our Truist Young line is the with Securities. question of from Michael next

Michael Young

maybe I heard net on NIM I interest about wanted ask income. just comments the to the pressure.

generally talk And that's as think on NII an seeing incredibly kind for ex return? industry, basis, PPP. a extra both outlook movements we the about with liquidity it's PPP here, of accounting balance sort that accretion from something think on we're I But that to of it's as of trajectory that? across to liquidity deployed is sheet easier difficult maybe growth the going do on. are kind can core and just the about you kind of hold you and kind to and we the just if and predict purchase Do trend to securities? into plan of have of wait higher some Or dollar

Randall Chesler

growth you had Yes. more ask about we're company. under to interest net Ron on is drives going interest of a of going in discussion can margin to there. focused EPS the really Obviously, down, be to income pressure is net is go margin detail interest what a the income it. the net because I'm but lot because rates. and We've But little what give

question? little to to Ron, you want give do that a So color

Ronald Copher

Yes.

if in X%, X% organic and the some that's whole the loans, segue up I'm But to get yield say, other growth, of PPP. in realistically, growth, have depends occur upon we and will the come there. XX%, see if organic trajectory So that continue can to, a you'll to factors. the deposits the we upward and second extent trajectory we going can and stimulus a bunch to can grow But whether loan to going that

that the put continue to into will portfolio. investment We

of And that as earning down are so assets. that our the - you've a loans observed percentage - certainly they're

money to work. investment up. But are Our put securities we'll that

And net so will expand. interest our income

just PPP got million got though, the our XX% round $XXX of remaining. loans - talk, - X about me we've - We Let forgiven, so the round X. had

we're we And net program. think so primarily real fees and averaging with positive. course, first half, of nice. that's a this second positive. then, we're X.XX%, getting in will that already Coupon the the But PPP And those forgiveness that's occur of is underway processing and version

that So more program quarter, We going We that We know XX%. will likely it it's range be to there's from in would the eligible don't help. But to know. we more and think fourth could on know occur XX% easier. forgiveness expenses.

trajectory mind, all yes, upward income. interest with in So of our there's that net definitely

Michael Young

the Randy, the talking flip equation of is And outlook as kind That's various you're Okay. base of result the year. for of about what the and of helpful. I side to company, guess, kind presidents the a expense that managing kind of the

on could maybe just the the revenue? pieces efficiency maybe about the given are So maybe messaging goals moving standpoint, what you from ratio and talk all an

Randall Chesler

Yes. be the prominent We important efficiency of plan. is compensation going part a measure. our think is very very, most to It

I can answer of about focus. So that the question part think

And lever. also we able year, back that opportunity yes, good And XX%. important are last we us same an in gives the XX%, overachieve opportunity to that, to that range business. so be good a efficiency think an it's talked - that the and we us rate still intend to if about We gives to invest in think that's we

the XXXX targeting - XX%, we're of still XX%. So range

Michael Young

of being that Okay. you for what plans and are the of investments. needed? And XXXX footprint investment just maybe And down, I with kind on some of are not, have know one there? but for pandemic of realized any of just shut some last maybe me kind areas those it with your

Randall Chesler

question. a we your lost Michael, So, little of bit

we would it. appreciate can If you it, reask

Michael Young

sure. Yes,

Sorry me now? about that. hear you Can

Randall Chesler

It's okay. Yes.

Michael Young

Okay.

there hiring and and in things through asking of kind some of investment be the going of focus? are people if was that I maybe just So or were some areas they're technology-focused, lender if pandemic about given more the to kind shutdowns XXXX, raised more

Randall Chesler

Yes.

the entire in We in technology expense and invest improve reduce side. the on across can either to that and we think we business process control improve continue ways internal company and

So a in We've and accounts. that lot are a investments, improving the made of customer number we and terms virtual. have of towards geared some quicker easier experience opening

it quickly. branch So invested payment coming a We've growth in our stage and into do enhancement set people, services especially We've also our in in business without this invested further environment, technology products. mortgage better to for and control. some to can the

examples, So about those and But where we of or items of just number control are we investments, reduce some Michael. prioritized. the we priority, really high one revenue-enhancing feel - think can when we also any kind investments risk then are are

that the investment. strategy by sure take following a because - where We have process. way going - bite-size that follow pieces, good a your response investment. big can again, we the control year, XX we to to investment to range, really cliff But make kind are initiatives of those of those areas - staying like, We in, and to mentioned that every we question. the are these do don't XX%, can in we stay have see and feel big we we're working dollar that investments We in top result we like like some we So in those things we make we the we XX% and can like I on focused result. the the seen very our a which and get

Operator

KBW. question Bohlen line Your of is Jackie with next the from

Jackie Bohlen

And at But the kind but more that it's run small and rate quarter, to commitment in item. stripping quarter quarter, unfunded line Randy, and in a starting captured the expense have third I million now over out you expenses. little with - I stick the was that's that $X know expense, other may what in with looking provision. had been unique in fourth of the wanted the

that, million quarter. then in if this So also third-party in you that $X bit had a quite notes line It item my like and was I've fees. that consulting got about looks up for normalized I

anything there you if repeating So I'm unique that just next was in there quarter. wondering be won't

Randall Chesler

think Yes. there out. There's call lot clear there a repeated. what be expenses clear-the-deck to I we But we of we some in activities would won't in incurred got that wanted that

and were categorize if some say, in But product So clear of expenses to them, deck. expenses had I there of would many the I combination there. expenses, onetime and legal kind items a

fresh we a as So start can. 'XX slate we possibly as with

Jackie Bohlen

to roundabout And the estimate amounted might of have just that much do in quarter? a how you have

Randall Chesler

Yes.

think going cover that of 'XX. run kind I expectation rate question think for to I'm ask Ron I that to because that our your gets

for think I So he both answer of can those you.

Ronald Copher

Those are I though. comment, Yes. roughly to do million, I to want million recall. $X if items $X

expenses the On I were the $X putting fourth... over that million of third-party in consulting know quarter. third didn't if into you

Jackie Bohlen

I in it the Yes, Yes. got third.

Ronald Copher

Okay. Great.

Jackie Bohlen

the guess yes, Okay. - And of question into it. I rate leads then what more the also, it's run which because, Randy, that's I'm at getting

of later between this terms And year the some and in environment early incentives, and given push been I year. changing pulls compensation. know Just thinking there's about this

seasonally a quarter, see want going So run compensation just first be be into which next the to normalized for we're high? would year, understanding what that rate will

Randall Chesler

about the to you any but - and connection you asking just a rate a Ron, about expenses, So Jackie, you're believe general about Jackie, run have see run But want there, rate, question if if you was little other of - we'll questions. there compensation. blurred bit and were the talk I then maybe,

Ronald Copher

Yes, Jackie.

the going et people, million some compensation, the for use calories to we're let's $XX because cetera. on comp higher have So

we PPP in the that originate important like we're to second PPP that So particularly, more going we important be the really loans amortize the did some we But the have to is compensation of quarter, that's the loans, added would going and thing, when be expense fair. yield the gets on then pulled that It out as compensation. then to of part loan.

number we're And that for comp so the second think, see rate be the just million to ballparking of that so range have loans, million less the we it, out $XX $X to for come $X compensation. demand, where will just round could million. that's and from run that would going you we of anywhere PPP think, Again,

Jackie Bohlen

$XX to million that million already So $XX just decline $X million. $X million reduction to million? clearly, understand million includes $XX would that temporarily to of does $XX so I Or the

Ronald Copher

you. Thank declined. Temporarily Good clarification.

Operator

Your from next the Clark of Matthew with Piper question is line Sandler.

Matthew Clark

any cost left your recent from be most saves to have deal you Do realized?

Randall Chesler

Cost saves on M&A?

Matthew Clark

from deal? Yes, the SBA's

Randall Chesler

I don't know.

expense. a they've it think kind in to picked to our the Nevada, part of - forward. lot combination I bank clear would that configured Arizona, they it the has I and to the We've done. gotten of result Cost needs our saves with lot in acquisition certainly, we be been the be business Arizona any in we well year because foothills - tried bigger. of that we've to a acquisition, of as in is very Arizona, and a a going as State as what complete out converted Bank of in this recognize that way savings. say a of and as scale, But Arizona that that, of now think to efficient go recognized up specifically cost positioned They're

Matthew Clark

Okay. out. Great. numbers, in I'll some It take so savings I just had my additional

get Okay. securities as incremental to on margin production this average on the quarter of kind weighted we so weighted well rate the can have rate And you loan forward? happen then new new do going as average

Ronald Copher

Yes. Ron This is here.

say fourth on the quarter, that in be really the higher But rate loan, loans, bigger the quality. than smaller incremental tighter loan is the the it So I that. again, where was. would the And X% it the because production the

and here, I quality. came say X.XX%, points, and the wish in If just keeping his Gosh, on look cash my good dated that it security, remarks, at clarify. investing we're point I would the XX mortgage-backed the celebrating basis to flow I higher. around And notes we're rise. short we and market we're get can rates catch Primarily, then if fact, high-fiving in we be the Randy's In just off securities. investment staying that's get XX-year trying X.XX%, and maturity, when everybody, was today. it ready here. residential up to really to And in of -

Matthew Clark

going or forward go or looking any whether in in just then a that the change rate not? tax bit at investments tax little your And Great. Okay. and with administration the change to up way credit not might cause you're the

Ronald Copher

are. We

the and has good. low-income getting is markets really So the especially thing on the that the housing been that nice new pretty yields we're

And necessarily we booked all an so - commitment, equity we've even credits. those make haven't when we

with see make coming a to of going So investments X-year what's because you're on these the on administration going we credit or over the irrespective time X- horizon. in more current future,

taxable see to grew, book significantly on for in our going you're et We you we also So we picked the up XXXX - to say, those cetera. income, because XX% tax like investments rate XX%. that noticed XXXX it was grew come our I'm Then significantly even was for income, and income, munis. for though going instance,

get to more credits. yield. a going tax there a also we're lift So because of these lift on gotten we've tax-equivalent We'll the get

us. for well bodes it So

so more I even and year again, rate our quarter 'XX, maybe of that of think tax tax be efficient. we put then of I tax things credits. munis the first in and for that investments. I'll pretty it And the continuing think will last we're out the go the we've say buildup because on made XX%

Operator

is next your Young question the line And Truist Securities. Michael with from

Michael Young

Just wanted imagine gain particular, making positive, But the areas a lot work-from-home I Obviously, with would business. to and next a the sales. on lower. refi investments expectation the bit that you in to income year in follow-up on guys the markets is side, of is have little for trending kind in down move a loan your the been fee volumes be of to

do any that? don't helpful. should So would you share better outlook expect with that industry than market we be Just or I know, that trends, should track gains, to, on

Randall Chesler

we Sure. couple forecast national with we think probably our We the be gains of business than line business. have around that little Yes. decline markets mortgage No, more we've for a probably market. is mortgage off XX% bankers' a be the in than will a One of the Unfortunately, don't will think stronger the - in are so our reasons. inventory.

purchase, we into many shift houses they as the in have our of don't markets, So sell. just to

business. on us And to national hold going to so that's probably closer forecast the

in the is more refi business declines little less shift the overall and - shifts a and other the less from The as bit marketplace. purchase business

may a pricing to ability a Our little get premium deteriorate bit.

less expecting mortgages. we're So a on the gains little

bit calling mortgage So the maybe the little in than is for off, be a originations. MBA will what more gain

Michael Young

all. The I of here. And then for kind that's reserve day or on maybe from was expecting. kind allowance Yes, just of you Perfect. Okay. what the X CECL reserve

sort You of were rate, of a X.X% kind loans. X.XX% of at

So still any outlook, we off or be Is other macro pandemic to of should due than to indicators? as mix it winds beyond that some kind lower Or impacted that PPP shift we cetera. trend get level reserve and where this would et expect that down towards?

Randall Chesler

Yes.

Tom see don't now, that. the lot more that that? ask to a level now, to tell just we do - right Tom, right Let I'm expect of we're you a color to look as that going until But you some give on we economic want me just what I'd positioned, you in forward. certainty and some change We where forecast. add color in get the to lot

Tom Dolan

we change of - lot a until saw Yes, the see the given material I as there's don't a not today, reduction basis. in on regular lot too this we we we economic a But significant add. year, a can much don't change evaluate certainly, And But any just in know forecast last quarter-over-quarter. more what changes. to foresee allowance. But we future, the

Operator

back showing turn this I remarks. the to time. And closing for questions at like to I'm would management no call more

Randall Chesler

thank right. for you, Well, today. dialing I All Thank want to Angela. everybody in

a resort not ski even Wyoming, with you of Colorado, and ski of those snow. Utah, For West, Idaho, of the all has Arizona our in open, are Montana, resorts Nevada lot

some the others new with and on snow way. snow So with

visit. out So great and time it's a to come

and to weekend. - day other is all this we please shall we'd virus still to like a thing guard say us. ways behind have before keep I COVID The And wonderful up. you. is go Thank a hope We you great have your

Operator

concludes your wonderful call. day. Ladies a and and gentlemen, this you have conference participation, Thank for today's

You may all disconnect.

Glacier Bancorp (GBCI) 29 Jan 212020 Q4 Earnings call transcript