GBCI - Earnings call transcript Q1 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning and welcome to the Glacier Bancorp First 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 conference call is being recorded. I would now like to turn the conference over to your host, Randy Chesler; President and CEO. ahead. go Please

Randy Chesler

We quarterly I'll diluted Angela Tom $X.XX, the or you, $XX.X year all and The of current our thank to in assets year highlights XX then prior of good $X.X quarter. over for a the increased annualized quarter. review and increased payroll Financial first the country Officer. that quarter additional finished Bank increase for quarter prior X% quarter. XX% compared year the annualized PPP an of first basis and ago. quarter billion XXX our year. in today, share, business to Administrative share on of fully modifications regular has per related dividends. and our from morning well billion We $X.X million most share are Gain prior of was increase Chief $XXX quarter. and points of per loan of $XX forgiveness decreased $X.XX the rates second from loan in dividends Kalispell an now dividend we basis earnings quarter the per loan was Accounting prior the up $X.XX the and and quarter highlighting billion XX XX% or X% company first first and Company and Further and times. cases All quarter. of declared or subsidiary prior from across from as from the the net joining of increase portfolio to the million. quarter increase business Carol, the PPP during or million we the or XX% quarter earnings. quarter. increased us of the model for has them. And released a locations prior XX% decrease our of are share the Officer; was the touch quarterly million, the $XX.X I'm deposits people Net $X.X or Don from Business excluding increase Core net quarter. an Treasurer; core the consecutive some you current an XX% company's continue $XXX Officer; X% the declared strength pre-provision XX The observations $XX.X Wyoming record Chief quarter The first have or on year Credit our of million million our income to $XX first revenue to X,XXX Administration increased basis We Chery most year first $XXX the report first in up million earnings and during for of quarter during talked current new Ron loans good of on pre-tax of million XXXX, way basis which of here quarter our XXX the XX% in business percentage are Byron We $XX.X today. quarter thank million open PPP loans over quarter. attract million The compared Dolan and the per protection Chief positioned million Small in Pollan $XX.X business funded $XX.X of is right, with on growth expense first of the the current previously. the X,XXX the increased prior prior million XXXX points, or to in in ready and our the a million, company eight our markets Copher this year XX the decreased loans Diluted Chief received XX% from the our $X.X loan to as rest dividend million, assets, health markets and Washington decline a customers. billion sale Non-performing year or COVID quarter Dose US and state Yesterday, of about or With prior snowy is our franchise. of our leading amount the the measure liquidity $XX.X strongest in prior saw XX footprint of $XXX Administrator of a do Montana, points XX% to first me forecast, vaccination very quarter prior also $X.XX. or core a growth we of We trending provide COVID-XX income compared an loans of increase. $XX.X of some of XXXX which points of prior quarter that or the Non-interest year think the from million and million, we've $X.X $X.X XX happy from to loans.

at quarter Our twice it significantly of ago. did end pipeline a the than larger first grew year $X the of now customer in the the relationships, quarter stands at first almost and million level

annualized of portfolio grew million $XX.X the in noted, $XXX As X% or loan quarter. the current I billion

residential of or grew million you If our exclude portfolio $XXX mortgage X%. the the portfolio, loan liquidation

this as coming X,XXX Round customer build group. continue loan with to this the $XXX PPP of part new X We up picked relationships, about volume of we commercial million on from quarter's

from growth core substantial to We in to or of and X X totaled million down to basis new deposits Core billion of basis $XXX is All net the and even the importantly, first was government new in spending due Core $X.X growth well loans PPP Non-interest will a $XXX most XX,XXX of and those and $X.X billion from economy forgiven. XX% low-cost continue increased the year Glacier driven at prior bearing regular strong, excess points a of growth deposits over cost billion last lack deposit over loans X,XXX the by over income loans XX% due position prior $XX end more team that know processed from million the add of unprecedented interest quarter. the and Total the including reinvest and the up securities consider as points, to XX% the the increased that stimulus incredibly increased extremely the or liquidity you or impressive the recovers. when at pandemic. debt or quarter. this prior quarter us $X.X billion quarter. quarter are deposits

interest at of at flat which purchasing reflected Debt longer, rates, the total with on We increase compared securities securities for quarter. at market the PPP lower continue the purchase security down the the and from quarter our ending excess at represented of due debt the forgiveness securities of prior to income X.XX% end new lower the from liquidity to X.XX% to XXXX about XX% XX% The deposits XX% is impact debt was of of million, rates. the in Debt return a the securities and ago. quarter prior end to assets loans. year core $XX.X

life locked a We over at and better-than-expected Non-interest short new current investments and of our was and continue continue our first with rates approach to quarter. a average add high fully for given investments. deposits highly low performance, than volume a result, gain record And sale quarter new across margin risk targeting point deposit the to liquid taking prior mortgage a was income our up the refinancing's high invest as quality some It to slightly expected cautious excess outflows. market our on business due a to was housing pace stronger footprint. and strong,

for to loans ample slightly interest based decline biggest expense good PPP our in expense million new availability quarter, expected next by in of margins the due lower the the of on mortgage than rate of supply our our sale. deferred Non-interest an those was expect management and to trends, expense compensation from $X.X business is concern divisions. homes We

run core yields, quarter the yielding the and prior impact net X.XX% lower and a a positions in have tax significant on COVID, current core gets net to in of earning interest debt to compared margin margin to prior back expenses asset net quarter our economy to of both interest X.XX% company's normal. to earning return were year increase securities expenses the XX% new decrease and we an first yields and the comprised expect quarter do first during in the branch X.XX% to year find and X.XX% basis and XX% of Debt margin decrease XX% the Some but - in quarter. we yields in prior debt almost assets securities. travel as of our ready - and year normal year The earning sales for assets loans the The year the the to able percent asset equivalent on The current activity, and saves not due prior a in in rate decreased margin and hires the compared a in have of earning prior in the reflect due compared combined in more quarter we've prior X.XX% securities first the supply - as subside quarter. to open prior been to the quarter. interest to X.XX% these decreased a from expense of was less

been current deposits, the the of curve. was quarter, Going in in XX.XX% ratio quarter basis PPP ratio XX.XX%. the forward, would ratio the flow will efficiency a in XXX XX.XX% prior current dependent new and was growth on be our the margin The efficiency from incoming of decrease have point loan continue to the XX.XX% yield excluding in quarter, the prior which quarter

apart bankers the their in from and team, once that sets leadership other So Glacier again communities demonstrated Montana all and them the strength, industry. X,XXX from commitment, Arizona far to performance the in

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

Operator

line question Securities. [Operator of comes with the Your first Instructions] Young Truist Michael from

Michael Young

the level little bit big of of of but with it maybe influx commentary, just in to migration. the with start Wanted on a just you you lot kind high guys picture, trends a mortgage saw touched activity

it As even Coast. still a you way sort or seen Have down West starts the kind to other of the the reopening is result in enduring of any closing of as back place? pretty flow the take trend and the strong of of that pandemic

Randy Chesler

other that seems to to a of say would we and that coming not short on from up so come fair supply, end from sticky, when noted, just pretty buyers, in is everything, their snapped this can as we homes. at continue sale know trend seen I the homes in You be we home have very see point market, as not housing market, be continues quickly the outside do market they amount and buying still

we've So happening. say but, it kind of not yet go but which in see here I have watching decide to they we to signs that the markets in where a want of people re-trade to any did see any they from to really No, quarter. back first the came so

Michael Young

Okay. amount does large leveraging growth into that I secondly how temporary of the or you I'm forward? cetera, about and the liquidity with And just in permanent and are deploying thinking liquidity market curious conversations going on like flowing guys had what just then that deposit you've bank. et then it the seem liquidity guess other and precedents, from

Randy Chesler

see just our we our this investment and because kind I'll let me tied to that, well, talk have about talk liquidity. about strategy, Ron obviously outlook Yes, of

probably a that the things. there as fueled other it, me forgiveness trips that, feel a done tail-off building stronger, have advantage economy on be growth seeing I fair think, a growth it some good net getting I think incredible stimulus to and and our the come the look interest to quarter money in, has income we excuse payments amount of gets it, team spend end. more doing interest, job going We're we and which we people an of but had is deposits, on PPP and at the very places nice of that's to taking because more bit, think so taking yet comfortable

see some a to expect flow of bit. We that out

core - it's, it's feel we that, say, deposits of, I'd that's core, why deposits, terms overall, account. our feel but they're the stress like sticky. in so in the call I the are core relationship what Most In would we very or core of we relationships

a slower if there. is any there growth So rate

the our we'll think do over with see that those excess on want And Ron, time. you strategy I comment to deposits? investment

Ronald Copher

Hi, Yes. Michael. Right.

the and dollar clear, be so the the the park get as we seen, the other deposits than meantime where through to loan portfolio. yield portfolio But are - loan strongly you've has can in prefer Just in, flowing we as growth. securities them that's investment the increase into will because we best

We've what getting point basis were in that were in higher key So quarter the we're agency to security the mortgage-backed average weighted year short we than going getting we're fourth to into sticking and basis to slightly the moved the residential And off XX a XXX life back. XX yields also XXX that's up strategy again the the forward. were really point. year,

big. get holding lose We cash they or and rise not large rise, getting of time course put to predict will that amounts to is want back like well, as in market will markets lucky we we've trying time flow off you we're work. can what out bode point One what think of So more, thing can rates we over cash we're that we we're and I of even the year. all to look but not the the the

So cash thing One I'll were the days point stimulus the federal had came work only of that. of million flow, with in, month in with pleased XX pretty $XXX to we with the that out that. we're March

for quarter, quarter. fourth next So the that bode will we think well

Michael Young

is Perfect, a compression is associated liquidity excess sort will there hesitancy assume the that so ratable of margin a kind that it as and about you with it there deployment sounds of or just that. was no willingness of be basically like know

Randy Chesler

EPS focused with dividends. earnings mean interest - not No, result net we're grow I'm we to much we're doing, fund but are, that's grow what the of I to income thrilled that, more on

we that's gravity. So can't defy are - where I

I just that the I'll repeating so said quarters, think keep four I've last that.

Operator

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

Jeff Rulis

guess you like Nevada, the Colorado you if of else but so in however states nationally Wyoming, are it's states Washington What laggards that economic of Maybe of footprint. maybe bit, Randy. on think do into just But a other mentioned I'll the dip just as those timing kind a you're markets not little leading, just Utah, perspective? kind a I of Montana, the thing. again feel charge. the it's leading a few seeing you you balance or growth It's

Randy Chesler

The is footprint healthy. extremely

at look three, Utah there appreciation. of Arizona, are price four Washington two, terms one, and Montana, you home Idaho, and If in six

And what be of so, yes, of surprised the doing business. is the The in leadership country to it, days we best some those think are we that us. states in

it's to talked probably going hold. we about when know, You internally, we think not

open COVID our quarter event, but think fair rest that, I is from the the a quicker I states a in quarter than we're those through of they had growth, probably it they of loan less restrictions leading that were first going seeing coming those sooner, first amount was in because much came footprint that's out the of think why it. the And states.

Jeff Rulis

I guess Western the Got Washington particularly Yes, it. Eastern versus side.

Randy Chesler

Exactly.

Jeff Rulis

the can you Mountain region deals been pretty a active. bank California been in you Southeastern has mentioned on that guess and you charters, quiet M&A seen I I a guess front, follow less been But the of outlook. as are On as Rocky the I acquisition related guess any for M&A, I and know real activity, thoughts well and typically we've less estate on the but has active thoughts bit. there's your have guys that surprised been you've

Randy Chesler

Yes.

the I'd because of we a start the lost year. so And pandemic in timeframe, XXXX,

pick to previously things commented kind timeframe. back So of really started as in the December we up

of transactions, I who you'll the over that we've it's the phone to talk time don't think received by of a will you and I just will people think measured West want you about busy. that very activity, calls amount know, fair much difference see see amount

outlook and that be the they can timing, a this, sides just with get some being risk two may the country, the result sell know the a wanted and the not to quicker, the comfortable comfortable understand I fully to little that's a they can closer the think less that West at folks, to the making time assess, they in moved quality a COVID think little value. there a but So folks parts other their maybe in of the sure and I get is the, sellers buyers the of full maybe just some think I bank see of of in hurry - due you and making to sure you full interest when good There's only. that and could we're

think won't country. would here those over I difference this of expect, a together in So and the the the things between coming two time, I together rest are I think big you have see over come year, West recently

Jeff Rulis

release of - your just of deferred total I got the I maybe with was kind one, just and maybe the first generally cost your what says what last was pay, a the maybe there maybe return then a guess the expense expenses, the level, housekeeping that, increase and a it's to to and Ron for overall historical to of million rate levels? comp, try impacted. an total $X.X comments And maybe on just comp to deferred normal more COVID side, but is benefit

Ronald Copher

on cost originate comp these all have FDA rules, so to assigned the if because deferred how we've the we loans, to we origination bit of PPP their comply the those. of unique, Yes a a with

average. see million basically you the by And put you'll units, $X.X divide the take there what so if we on out

we every PPP we long unique any at we you banks that its defer have very named compensation that the do loans, a over that a has estate and loan So that commercial except happens real of category, All have own but small that is other month. charge asset set look when then bank. their live very,

Jeff Rulis

get. to trying I'm Ron,

ahead. go Okay,

Randy Chesler

ahead. go you No,

Jeff Rulis

to $X assuming you was PPP deferred historical guess as away last runs to PPP understood impact, the Ballpark? what I what that that trying comp generally mechanics to a I'm there, level is million. refer increase, heavy is quarter. I'm of but the get trying I'm Just the level but

Ronald Copher

the, at your if you So since PPP we I'm was question comp understanding just we're yes PPP in the looking associated zero deferred on are didn't - PPP. so just fourth loans, really but originate quarter beyond that, there looking with the the any

Jeff Rulis

if that No, was then deferred was I million saw quarter, that's zero comp, deferred number PPP, guess that last other PPP really basically to you're to effectively $X increase, mention and to which the helps, you largely comp been related but. a saying the in that

that we the that's going piece, So actively basically look forward. normalized

Ronald Copher

And to expense get far extent bottom then the just to the non-interest went yes. you on down, everybody Exactly, line.

are So, run million rate $XXX give side either that a be we estimating normal $XXX would bit, of a little or run a good take rate.

way benefits, the so take is $X.X. I $XX.X it employee get you if at expense the benefit, there comp the add looking non-interest to down - and I'm million will our $X, for everybody's went summary And

So that let's or $XX call million $XX.X.

head went we count I customers, one. to of on that loaded. picked we front PPP X were had of by long-term first salaries from Round number. that up at FTE during we've that count those the pay, X because year, think getting the from in Round were number overtime an you the We new that work put work the talk in reflect the up about the XX start doing that had the the noticed been that on the whole Randy will heard forgiveness we people increase quarter also 'XX We so able

- busy, we've higher plus been taxes. really the employment everybody's had higher So

of million customers clean think talked Round line. so so haven't development about Keep just for busy of of rate million, care not that, we fourth doing business spent on taking we COVID Round $XX busy the the I'm X. the to reduction in So part $X January mind what expense year-end up. much X, side about going And impact, consulting just million been with $X we've year, about the that of there, comfortable just the of in been would sustainable, other I'm a did money that. million half PPP comp. --, said, is with third that last the quarter our we also is then on all run we to It's $XX move very, -party this I as a have lot very in the call travel, that

So start we year clean the 'XX. for could

were million million million of $X.X we for relates and for that $X occur about benefits, not employee remaining other So, really $X.X $X.X because just that really fourth - seeing. I of that that but sustainable, million or a performance to expenses in again. down $X good the to the is had decline back we that the quarter, comp accrued were second $X because fact want higher million in go the on will we

So that won't happen again.

that those boil stay that you those that's leave occupancy. level down, so are when other and Everybody advertising So real all think can right We all just expenses, the think estate have we other there. $XX,XXX, real I'll a go then the blessing. But there. don't lot rate with. only of should is $XXX leave it OREO. run a And everybody real owned That's we is see

Operator

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

Matthew Clark

X% you're without? to your I'm related the pace I with thoughts for PPP of NII but basis to growth, reported is - or it's on I trying circle still overall question, growth just X% that, to on whether on for sheet at a to kind get what overall just balance year the and think guide is wanted back ex-PPP the kind loan growth

Ronald Copher

Yes flat Matthew. fourth to much pretty it's compared was It's, interest Ron the quarter. here. Net income

that, interest as more think to going way stay around see to dollars yields for investment production, net we're we we the in for securities be to maintain put that's portfolio, going are well XXXX to So income. the able loan we when to we be but the work to hold able new the

the month in to the As quarter, but of third March. I a in put mentioned, we've lot money third work assuming

as I our should we grow, pick benefit to so income. we'll But, will interest feel that net that no, comfortable able up say be we well. So maintain

Matthew Clark

left not how of net the maybe X you can of X kind the just gross then, coupon? and how Round coupon remind you much Round there And in way in us, sure have Okay. just that PPP fees with much and left,

Ronald Copher

is deferred Round remaining. Round remaining March call then fees we've so X end X million and $XX $X.XX at the PPP the net it of on under Round just Okay, roughly X million that that's got

Matthew Clark

Great, And that's thank a longer you. Right. life. over

Ronald Copher

Yes.

Matthew Clark

Okay This just margin loans at marks get of quarter last if the banking give the on any there I doing and you maybe the gain related mortgage a just sold amount in I'm sale and wanted can't to you to and on piece, also MSR us then lastly can quarter? trying servicing. verify remember, guys were

Randy Chesler

Ron, the want So MSR then, and I'll you to talk the cover about do sale.

Ronald Copher

Yes, on the MSR - and lower costs on markets.

So with those steady us. see terms points up we're was of loans for quarter. calculation, million about for made that XX for the residential margin writing quarter, been not sold $XXX that's but the quarterly, loans have the associated in Again that mark-to-market law. basis election for And banks is in sold so we pretty not some

Matthew Clark

Ever I quarter, get gain slightly a compared look so. have margin on last trying was up just sense to to you the sale for

Randy Chesler

about sold just we quarter, million. $XXX lately, Just last

Operator

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

Jackie Bohlen

in noticed I any just other the behind sub-debt do just you and you So look might that if a quarter? repaid wanted thoughts pieces? that amount to small real of the get to

Ronald Copher

[X/X%] of only were we all acquired high to probably sub-debt with January Inter-Mountain picked and by it, - so X% X X. got First Bozeman we so really debt, million call very we able very paid we on up other So and preferred that a and paid was they off we threats. had $X.X Security paid to we happy is trust to really retire out security will report and the pay coupon they Bank because any I'm capital in something $XXX,XXX, dirty it date that Bancorp were Tier when was the we sub-debt not

course is X of billion So for Tier liability purposes, acquisition, but X we're Tier financial we in keep used did going in but it's a Tier got crossed that because then still an statements, reclassified $XX GAAP it X, but be it's capital. our to total really remember our risk-based that we to and capital

Operator

with of Raymond line James. question the Feaster Your comes from next David

David Feaster

to in wanted the to just the increasing just the start and I trends on pipeline. demand in

customer maybe existing just program? an invest Just and more for clients in new in curious versus the are just hires this clients from how of improvement migration much economic of is PPP the confident from new the sort new to on update that acquisition

Ronald Copher

cover Sure, that? want Tom, do to you

Tom Dolan

were Sure our with Last there pipeline our put I the projects that two-thirds until existing customers little is say customers. would about pipeline what on exactly, nail markets. comfortable difficult the seeing hold were got but to they existing were more down of year in

Now, like with part we spending the customers, see split. what for comfortable reopened most one-thirds everything two-thirds, capital that's

of we've X PPP, pretty over able able been that loans out $XXX volume we've to bring Round X,XXX the the start of there, customers, made share on some those over bring On nice been with a to the customers PPP, that program. of large its date of to in total about we've million total since

David Feaster

on your million customer of great. pretty following commentary relationships pipeline over just Okay, $X about Randy the being up then And significantly. that's

strategic, versus lower for not from much from in of well middle order how in some of to of some market that is that upstream PPP. the banks, in curious a end migration maybe fallout just market bit looking customer demand larger Just go, the servicing

Ronald Copher

it's in David, a strategy. not Yes change

so just we it's us are some and the good in up reflection the banks picking think distracted loans continue other players of that's the well. the be a levels market I from as market, very some of to in been activity the larger some good of for

is of We at a change growing our grown it pipeline no our a a of reflection how the in double. significantly strength almost has area about And year because strength where that look particular really of something ago. quarter it's it's there we markets that so was So this more it direction. in the talked change just I think

David Feaster

mean, upgrade on an ATM deploy might wanted just update, to other strategic of kind and in you opportunities that Okay. the have get horizon. the and or you And about talked just we've investments might have, that just other on any any past projects. whether technology touch I more that wanted or you front to an where ATMs investments maybe then, at any on upcoming the on were

Randy Chesler

make - Sure. mean continue We technology. and strategic XX% in trying keep PPP, to that, I efficiency. without specifically investments do Well, to the the we XX%on

experience and bite-size, favor of also investments big and bets we everything together. not time. raise like fashion stable curtain on the and big is a So these our better what kind a projects investments efficiency because we strategy any our believe those technology to call And we where we than just are executed making at keep and cliff one effect put

evaluating investments very well for in ATM underway. worked it's we are us, So that's and the fleet

bring ourselves are consistency make sure we to distribution need well if want positioned and I but think the for use arises. outlet change I to there the generic today, as things that some distribution pretty future, going strategically, well we think we're that to more position

to well one of a our we mean managing the product we've our will launched very backdrop continue XX% that's there, we continuing to now really - grow deploy that's displacing are area big and made with to I investment the that that about business, very efficiency - - in that we that rather David, out well. line that already the think so that's than existing opening penetrate and is do that roll so to all we've people we is nicely the have account customers these that. But going virtual doing customers to of product that again, very rate talked XX% at commercial account third going received area. against year, card going just brand process, to I offering the another investment system So middle we're new opening strong business one process that we're a our branch is and who last

Operator

line comes with of Tim question next the from Your Janney. Coffey

Tim Coffey

can direction your mortgages. on color you balance of on little residential make sheet the bit Randy, forward

Randy Chesler

do portfolio loans, deploy we so we the, what's mortgage retained for servicing it, or just really Yes, service, best favorable most economic when that how hold we whether then based we've service really opportunistic We've whether that us drives it the so sell and we economics portfolio. we it, to sell originate whether agencies. we both in for assessment we our that and and the it's very on of how grown been

Tim Coffey

Okay. different call. current on of And we pocket thanks, helpful. stronger balance in, liquidity, sheet this I'm in loan think how excess ask the period of times about growth this air All questions that's couple that you you of long kind terms do we're long then But curious a and of last? how that for kind right, say think answer

Randy Chesler

all the growth we relative they're would, a that Arizona view among one and very that I we longer look activity at best-performing I, our up Well, we the we lot markets Utah trend, view the cities. number job eight this so World in number growth large is a first ranked all to what ranked fifth positive, in of That's our tech Arizona and and aspect. number give as states. that's of the News up Report US XX nation Montana, states, four, economy geographic have lasting to way back strength in an that the again from projecting, very XX part, and footprint, pocket, the as air we're don't

eight rates states the of average. five the where in than lower US the unemployment So

So think of multi-year on in and all longer we well I growth. business We've think population good migration population extremely about dynamic a those bode a the lasting that, the so very feel had deposits. the and that's for investment serve that things we follows bigger

what quarter to quarters, growth. deposit was part the in, that's see kind certainly I had the of bit, that be next a we that payments part over have spend consumers of pent-up businesses coming is ways and because fueled billion $X think their there ways was the more as also this to that in and quarter stimulus the think We off more money. tailing exceptional of have table and both to I of aren't demand stimulus deposit as people probably that just couple going growth. of We got that payments of quarter

see long see of outflow going to deposits you're period over that rate down think those, bit, growth I probably, we a feel time that trending the here. we a I market said, good so the of do about some as

Tim Coffey

on Okay. deposit then And side. just on of kind the

velocity accounts? within this seen far those change month. in So Have any you the deposit

Randy Chesler

April. in Just

Tim Coffey

Yes.

Randy Chesler

can factors, a from I of we bit as this and a the Just I a see seen change, to have for we're think bit a point, think to bit at I say know big but not early what downshift. we cited see a likely the, it's

Operator

Sandler. Matthew have [Operator Instructions] line Clark Piper We the a with follow-up from question of

Matthew Clark

are the shorter the five guys something year assuming quick a a something life, X fees of Round more one on Just PPP you assuming are you more realistic?

Randy Chesler

X, Round a on year put five we those schedule.

Matthew Clark

Okay, thank you.

Randy Chesler

Yes you bet.

Operator

over Okay. closing Randy any remarks. so queue for questions will I this call to the in time, And I'm not turn any seeing back at the

Randy Chesler

Carol the Have you, thank to great some day in wonderful weekend. who managing with us Thank and dialed right, time for today. I All spending And call a thank you well for a everybody want today.

Operator

for day. participating. thank and Ladies have gentlemen, a you And wonderful

You disconnect may at all this time.

Glacier Bancorp (GBCI) 23 Apr 212021 Q1 Earnings call transcript