GBCI - Earnings call transcript Q4 2021

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Operator

Thank you for standing by, and welcome to the Glacier Bancorp's Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your host, President and CEO of Glacier Bancorp, Randy Chesler. ahead. go please Sir,

Randall Chesler

Angela million, build you, quarter. income of year level strong to were Chief prior us provide from grew and good excluding million, of some XXXX an in in portfolio today. quarter $X.X Ron and X% the million and the our premier or the record for $X.X year increase outlook. and of and some quarter and Financial what highlights growth or dividends or XX% over stock interest in produce real was We best continued net $X.X $XXX year. of $XX.X assets per longer prior organically term On morning the net the growth, $XXX of Program flow basis, of better measures. billion extremely PPP Thank us December, excluding is per Byron the then largest and million for quarter wrapping close in continue Accounting strong our Results shows you listing plans our to equivalent a Net fourth with growing the ended in organic from in million the Administrator. XX% continued regular And program New are I'll loan completed an Pollan, acquisition regional Kalispell year a the up billion, and or bank, than tax the $XXX all estate In we with XX% times. was market first no consistent by an we're the We the and loan The in quarter Altabancorp, dividends was quarterly or interest of -- to growth or XXXX. Glacier of the annualized for was thoughts Exchange, The million our encouraged reg dividend one is prior transferred the our from loans of history. the and the the the in to or increase consecutive Core loan expected with of beginning XX billion acquisition had $X.XX regular the increase Payroll we finally, Stock share, year. country has on the during increase full deposits Treasurer; on remarkable on growth. we We annualized. Officer; long-term year. in year. divisions, Chief into our divisions, bank the year. prior increased loan This X% west. by enable of and year the one increase growing joining PPP rated and With $X.XX basis company's model loans began Dolan, number some of and for additional community very results to a the the quarterly Copher, company. clearly year of the year. our the declared our touch Latif, as a per organic portfolio XX% interest the company and York declared right. that Chief million common in growth to from $XX.X Utah portfolio. team our $XXX early share million morning with $XX.X strong in business largest country. growth a and XXX Officer; $XX.X the our business and banks the the a record full million Protection of The XX% Tom thank X% this to The Dose, $XXX Credit All owned in we solid Net Earnings income income build strength full income me or over relationship the annualized out here all share unique growth that million, an markets XX% of customer $XXX closed prior Credit We $X.XX, was year. of bank an for demonstrate for the

been of we'd not XX,XXX time loans the for that end that $XXX billion, made of at loan almost and had $X.X million During forgiven. have only XXXX

loans of in with expect be markets commercial Utah, growth forgiven We leading estate $XXX organically quarter. pleased strong Colorado net to saw growth early and real XXXX. in million see growing million the with in deferred eight loan footprint. of $X our Arizona, in We the performance these remaining our state across we're to And most fees the remaining lending excellent

in pleased due government in We're the excellent liquidity quarter with full billion loans to the momentum year topping to our originated. success updated XXXX spending in with Core And new strong our stimulus and at XXXX and establishing -- quarter the new very the relationships. robust, a a pandemic driven in range year growth reduced continues customer due last across with be loans. access for new target footprint, record starting unprecedented production to that to pipeline surprisingly XX%. to deposit continue deposits of growth we're loan strong New was our by $X.X XX%. X% We coming

result, a businesses with and sheet. beginning balance are customers As very XXXX strong

six of basis bearing a billion billion or year increased ago. $X.X of from prior the core and are cost year. Non-interest now importantly, seven points, core prior XX% billion a increased year over the or the deposits More XX% debt $X deposits Total stable and from securities have down most XX% base points deposits. sticky $XX.X of

X.XX% year-end with compared continue debt company's highly by of we fully equivalent high core liquid to as at excess into basis excess to assets from loans. debt quality the interest, plan rates, decreased deposit. XX% earning liquidity the deposits quarter. securities current non-accrual low, quarter interest The end interest securities securities less amount in the the quarter of discount the a the Earning The X.XX% for quarter. margin quarter. compared We investments to prior at combined invest impact Debt to duration shorter ended was less compared yield these the to in and increase increase on at of continue X.XX% for decrease purchase tax asset and but compared XX% on to the loans the We a represented deposits yields in securities X.XX% in total the margin securities The with XXXX. assets given increase a grow. PPP, X.X% putting as with prior increasing from on the of prior X.XX% percentage core core the and debt of work net to yields have in net of in was the both significant in debt quarter

prior The exceed X% income down yield across portfolio debt mortgage. added production our added we close $X.X of million on It $XX.X ended of We will with yield. the same yields the in the yield new at point in appears down. and bit X.X%, XX income X%, securities million from to around to improving on new quarter. primarily were investments a sale or X.XX% are that prior drove Non-interest loan decreased at the on the year from the XX% quarter. debt portfolio a residential quarter which billion portfolio total New from securities refinancing loan reduced $XXX,XXX slowed the inflection hot yields points last or market The declined and the from the when quarter footprint. basis $XX.X in down core quarter positive the due housing gain loan

in increasing expense for business sale of real from Our of benefits loan the remains the primarily $XX to concern of expense related of expense growth. Non-interest of homes divisions, supply Altabank given cost upgrades acquisition employee biggest division, bank million shortages $X.X loan several due the branch million of or and time $XXX,XXX and includes $X.X estate expenses, available $XXX,XXX strong incremental compensation increased over at due staffing increased million of to to housing. due expenses, and

division related $X.X prior from year or the income decrease fourth quarter million the increased Altabank quarter. million expense and and expenses, or non-interest prior acquisition from X% the X% $X.X non-interest -- Excluding

the of of team responsiveness on to like most While businesses with in years. forgiven frightened PPP program a and model the at remaining the west. quickly who team down the how commitment PPP help last exceptional the two great program across the concerned they winding would customers Glacier very is did of many final expected the proud work its main stages of of of over loans responded and be XXXX, the in for street the our I I'm to It's order in recognize our the and early pandemic. were of to about reminder their a businesses to outset focus so our all

the with conversion work XXXX. combination the to very closely we team continues with Xst, that proceed all our Altabancorp Our for We closed processing and continue of well. to core planning the transaction October Alta in on on mid-March

when by still great history well-positioned acquisition XXXX. markets very we quarter the think in as increased grow saves are The On qualitative see, quarter in experienced are book be as that team value the best many other very close our and We United of States Altabank, we Director its $XX.XX Bank results. the we And X%. and recognized be per the X%. we the good XXXX as has as XXXX. that identifies of metrics, Glacier were which of we achieved to the or the a The in full to transaction for targeted in deal good for in may based December, a to to had one in technology in analysis XXXX the company are record Banks increased we from studying cost Study, the Alta the basis, many Banking was quarter. and of leadership. lot team emerging the on in achieve May part Magazine, growth pleased platform a banks identified Best in Ranking to regional fourth divisions. value loan We year of to COVID with innovation and track products and largest $XX.XX on a well a a we fit our announced quantitative tangible book Tangible share accomplished in

to ends remarks. the now I'd analysts So, over may And questions, the call back turn our have. like line with that, to that Latif, that formal you any to open my for

Operator

sir. line of Raymond James. first question Our ahead. of Instructions] go [Operator Please from Feaster David Yes, comes the

David Feaster

Hey, good morning everybody.

Randall Chesler

David. morning, Good

David Feaster

quarter increased the commentary see hear strong to -- talk the great was It around the and in growth the production.

maybe pipeline And and seeing Just curious, puts the composition of growth. with that. standpoint, the takes what your of into how economic and and much that? you're has of of about and the just growth of expecting you kind Alta your to pulse you're local to drive kind segments How XXXX what economies some just contributed think from

Randall Chesler

across Sure. Yeah. It very was based the broad footprint.

noted, Utah very organic strong growth. had is all This growth. As I

well. I one well, So, they well do very country. market the They very noted growth as as number in did that

in trends we're very strong Arizona to the California. migration from seeing very, continues there. So, benefit from

was that positive. So very

we like do continues to -- to their Colorado so, economy see well. very And the continues that.

to think to friendly continue very lower well. Western living, environment, are States of draw cost of David, we're people doing business that high that, So, the states continues United quality all I Those in. eight from in, life. things benefit The

to continue we side, -- as forward for very in plans addition to with our lending markets, their as the properties people businesses. expanding well move see buying confident On existing

to type quarter. for growth things the to kind So, propose all we combined of have able that were of the led those really

David Feaster

then, And the pressures, on of helpful. we just for industry. lot inflationary That's Okay. about expenses kind a hear weighing

maybe have some You with do how this through provides as yield some expense the takes with and and year, of upcoming conversion quarter? that you Alta core the just Could run seasonally walk you just expenses think that puts we a is? deal, the growth somewhat the of luxury might which some into flexibility. had us a have other investments you upcoming, first what from think higher synergies well that, you rate of of about just cognizant as And good and

Randall Chesler

Ron to ask I'm And to going expenses. on comment Yeah.

we on Alta. There's especially we rate quarter looking right. want that see Ron, run a moving of a lot expense what have I with acquisition of view You're good think comment parts, you to right. of the And this that?

Ron Copher

Hey, Yeah. David.

you $XXX we when $X.X his non-interest saw million So, million that acquisition related. as expense, was and that said had remarks, of Randy the the in

at $XXX there, you get we're then out million, So, if $XXX that million. of

quarter first think maximum but the to are I $XXX it'll rate, say estimating we be closer million. be so, And million, be, run $XXX the for the $XXX expenses million, would would

the And rate. run so, that's

quarter we're for the going in the in our conversion system. the recognize Alta first to Just mid-March have onto

will so, some that for run be related putting elevated the merger million. And rate $XXX the aside, quarters identify. first there'll expenses that But

David Feaster

That's just competitive the Okay. touching on kind And landscape. of helpful. new Thank yields then, in you. loan

-- maybe you Do comments kind side. on pricing more the is or to then XX-year? given trending on trough yields? improved seeing I Just like started on other the from are mean, And yourself move more It sounds you pressure structures just new rates how's in potentially mostly Do seeing on it add-on just has pricing secure loan the standards, passing or competitive on even find any or front? we're the think, deals? it the landscape, of just you

Randall Chesler

Sure.

pricing at -- Let the some comment then rates pressure. your me provide can co little of loan and loan to are your just other of under Tom question. Overall, on so, a more level high parts a

amount It see see some hasn't that and we a relatively amount liquidity We're as our fulcrum is lot there market what ability there. -- of because to of we increase to a going that take But of we advantage the to point. with of out the there have moved. with think a rate really loans to -- full a people delayed level in excess anticipate we full So, competition stayed movement to where rates the be a kind competition It The any there'll get put liquidity the the of happening, increase, of hoping price five-year flat. also work. going expected. up out it's be

feel Tom, pricing comment start So, part to up. we're improve. rates when want on normally to did some we're go loan going than question? that it of to take that going see of David's It's we longer -- those does to second and you the just

Tom Dolan

pricing Yeah. to Sure. seemed I'll that. now. be pressure add Loan -- the somewhat geographic is to

and it the some size larger pricing greater also structure of deal. And pressure, the see of the markets we depends on and

interest the pressures the on we see -- are that question So, structures, a looking generally at, an in -- the the We're we to of And non-recourse answer offering second deals, increase on we're -- seeing markets competitive pressure on play in the in our only larger structure more periods. on seeing the the just going deal then there. larger larger that. We of side. especially we're part competitors some the your not and longer

We couple answer have pricing. passed not number deals. To the structure to on a that your question, quarters in of due and of past we're

So, culture. continue our maintain to credit we'll strong

David Feaster

Okay. That's helpful.

comments of just Just the on potential kind up, Randy, on following hikes. Fed

or you asset You the sensitivity, the and handy pro for expect benefit to margin might updated have forma how rate maybe in first hike you Alta …? -- to

Randall Chesler

Sure.

these rate asset sensitivity. of anticipation at comment look So, in I'm starting spent going increases. let lot on Byron We've to a time, that of to

on Byron, comment So do to you that? want

Byron Pollan

Sure.

optimistic environment. are about the rate We

than asset shorter time direction, Also past. their have based are in in that duration moved concentration given We us asset greater more sensitive, their and we and of sensitive are we loan. the

at look portfolio, our or you will overall our XX% If we of this year. loan loans roughly price mature,

into in the In cash either us or that, loan of the have coming portfolio, to rate to and anticipate. remix cash addition off option put of flow environment that to lot give it our the we that'll that securities flow portfolio we work a higher

no loans. all and complimented be And to by so, bottom the -- helpful if rates our higher there's question, expected our will line

David Feaster

helpful. you. Thank That's

Operator

you. Thank

Rulis of next Davidson. Our Jeff question D.A. from comes

question Your please.

Jeff Rulis

Thanks. Good morning.

Randall Chesler

Jeff. morning, Good

Jeff Rulis

or what I'm on as versus there legacy their on had a just if, million lighter of around if strategic trying in were that any Alta Glacier And sale for running to expected. had couple change in? pivots there maybe any I of came brought you get the to it Was sale, the than a wondering I mortgage outset. sense game a been was book at gain with platform, quarter. little Looking business,

Randall Chesler

really were market. a overall of mortgage the the very Yeah. got reflection No. Utah. there, what's is lot on just The in of supply. Originations issue change of good A going They've just Jeff, it business. in very, down a is

very now. are than where have find markets more is the just housing in We our the getting point houses difficult we most of a realtors to -- to right

the some So, give of idea market. gives the you it the on It of level idea level an just houses of the you market.

It's and supply -- So, the platforms significantly just great. often than really be more primarily nothing have They're up. there that's amount is we business quarter the the downturn. of driven. was that's doing saw to done just fourth out in And -- are we

Jeff Rulis

Yeah. for sale? Randy, any on XXXX backdrop thoughts on gain

Randall Chesler

our how really like the they We we positioned. and business. Well, business mortgage Alta like mortgage

Some deploy. did of that technology they

the rollout the going are We rest to to of division.

the about still, to look forecast. at very for market about They're XX% the So calling year-over-year. that. at this point, excited We down MBA be over

in little United leaders probably fall eight in Maybe amount -- are the do activity will They better overall states States. price the We only the housing. in are better. we're we're think the The than with in markets leaders We appreciation. line of also a that. of appreciation, in terms in

-- So on supply. of that number the the back come goes the market. units that that's to And been

So and going are bit, to given up refis back to rates purchases. dialed are move going be a probably

supply We markets, but are in are limited of going the be that strong by there sale. out to amount for

Jeff Rulis

then on just -- to And touch wanted to credit. Okay.

I decent added from had referenced over balance days you Alta size, -- you XX brought You due think past increased. And a that what that. to

XX to is, that? early balance an resolution is did XX quicker the delinquency. with you the related credit days part increase of the a see question first you that And second then So, see in does

color that bucket? any on So

Randall Chesler

related in things The that. There's delinquency. the acquisition cover and two movement which was really happening there. MBA, can really Tom to Yeah. --

it? comment to on want you Tom, So,

Tom Dolan

Yeah. The and due It's and of we're predominantly XX one that more credits an XX expect relationship, in stages be to this resolved of one to was that. due in to the resolving over quarter. multiple relationship, and pass XX increase the I final administrative

here expect to be resolved would I that quickly. So, fairly

Jeff Rulis

Okay.

million quarter. XX the So, to Alta, even brought expected the and in that due I about again, over from pass think first $XX XX in resolution days, XX-day then the

Tom Dolan

Yes.

Jeff Rulis

Okay. Thanks. That me. was it for

Tom Dolan

welcome. are You

Operator

Thank you.

comes next of Securities. Our question King Brandon Truist from

open. Your line is

Brandon King

morning. good Hey,

Randall Chesler

Morning, Brandon.

Brandon King

in expecting Hey, are so, a growth, had -- I your year stronger even wanted growth on touch XXXX. now A loan first lot to strong competitors XXXX.

So, I in similar confident XXXX. XX% in you of just to know wanted were a growth achieving how

Tom Dolan

Tom. XXXX. Brandon, towards headwinds historical the is is low are now, facing elevated we're this industry looking averages. increase construction ourselves We're really costs, and fairly some things double-digits supply whole low headwinds. in confident XXXX. for for Pending payoffs in All still those as to that right a compared double-digits chains But

Brandon King

And outlook know the customers? your with higher within -- based lower kind specifically, reflected potentially Okay. rates that CRE as that could that Is saying I of you're what just off mean payoffs. well, of in with

Tom Dolan

Yeah.

I a impact that have there's certainly think Rates that down. difference on sure an what may not today. there but XX an basis slow I'm are or that, should help there's payoffs so would increase points rate. certainly XX low has those element of

Brandon King

deposit also the is quarter. then And strong growth Okay. in very

loans growth assumptions XXXX. you XXXX? of anticipating wondering So, in And currently deposit sort deposit think what in you're growth will outpace if

Randall Chesler

low see Yeah. high where We the think in loan single growth deposit be probably to is double-digit. do. we We digits in going growth own the

incredible -- back. some with think to year we that's amount It throttle will and it's continues. to stop, there's see every been has just But the signs going slow things to of it there quarter So, that yeah, when deposits an starting think we're we got down.

single And in high -- so, digits around probably XXXX. the in probably

Brandon King

together securities, we assumption? good growth then, with deploying loans. all see assumption, to much that cash And correct that not guess, that I guess would the both more I you're in put as Is Okay. that a

Randall Chesler

that that yeah, grow. We we strong that's the do but And things coming as the off into hope hope those those enough full in There's in Byron we've we're our carry is portfolio cash and to -- investment noted, we fourth invested, investments mean, so. love new short the as Yeah. still would seen XXXX. higher the to given so going and I off and rate in, come got quarter roll loans. to yielding we've year growth XXXX, quality, portfolio deposits in work the that. our plan. high put see investment And to at But as those fully roll as just

Brandon King

based your Okay. with in other you're another And closing likely currently? off we year, then M&A regarding Altabank could what lastly, how see transaction, deal appetite of this seeing

Randall Chesler

Sure.

So, folks. keep we -- talk are always so door We the continue we open. to to

though get to Altabank now right is We've it. closed focus it. and Our closed convert

doing Now mid-March. in we want we significant. is to well list EPS convert from that get the it And

the at stay part to we're focused going expect year. quarter, at M&A year, later wouldn't earliest all quarter, this towards third the this an to I anything we of So, on announcement late that. fourth the that see in if

we're So, keeping the conversations going.

We we out for timing get are want make there's It's of And a going there because lot earnings right. done us to all sure recognize. really pushing the to well. we

an us. kind So, behind then, mechanics of want – or anything -- fourth you'd earliest, in announcement quarter hear for the would to in work see -- the the quarter. the year, get if nothing seen but would the be closing would I probably announcement, earliest an third that don't we late this you out And

Brandon King

as changed of has what type would And Okay. potential targets nothing as consider? you far

Randall Chesler

to still us. a as billion, look No. opportunity that's of million in got wide $X not. from We great said. We've that that out. Absolutely went front at a but with very we Alta, $XXX was prospects We're we've large put range of

again, take at that at well little smaller take But with, look -- a we view, I strategic along our something expect can And we're do think our XXX very we're traditional a would that to it. where comes going hard as is historical billion a to fits we'll be something our going comes wheelhouse if larger to So, that around we look focused. $X.X well. if

Brandon King

all answers. All the right. Thanks for

Randall Chesler

Welcome.

Operator

you. Thank

Motta of Kelly KBW. from comes question next Our

question Your please.

Kelly Motta

piece I Just circle -- to for back so with quarter sorry closing Thank to -- Hi. wise? you any to seeing save kind do question. of help XQ, on some in markets? a the expect well Good how nest pressure as expenses. somewhat of year. of expense your Alta with I'm as but straight you the converting maybe inflationary Appreciate March, to With of away the be of color trying XXXX the the that QX dynamics out cost morning. realization wanted in kind you're the clean to much Thanks.

Randall Chesler

Sure.

Ron think XQ. I color on gave So, the

we're XXX the of So, first XXX quarter, feeling kind including a expecting, of on the expenses not for expenses. the M&A

the In did we XX.X% announced non-interest so we a when savings, in back of may deal, XXXX, savings the -- of XX% we expense. terms of cost of did their cost identify at

those. going Those we're achieve the weighted of end more So, track on to the towards year. to be are

quarter. think at the and in in third see quarter show third some March, quarter, then the of conversion we'll you start So, and up we'll second get look things as to the start I done those to

middle take see have place are those just fruition. -- expenses kind the of It's we of those that. feel good Kelly, we achieving through about the that weighted really to kind more end of the those, of really of after them. towards So, conversion and to some We get as to year, coming

Kelly Motta

some technology into how put bit in actually Got rolling had other -- And prepared divisions. your you looking little Alta talked it. believe I into Understood. were some of about you then, that your markers a

investment kind from gave could that and to tech into Thank the be there not that you're about appetite broadly for some you. some increases kind or whether more factors of of of commentary how speak do could investments expense you you and those through? if coming additional what just wondering looking Just

Randall Chesler

there. brought that us, me to platform first with the the Let technology No, Yeah. start Alta and

opportunity The with the Jack Jack us. us. So, Bank we core, that's Henry great can real-time. Henry a great and been where -- Henry for -- applications we're Bank at evaluate taking Jack third-party That's we're advantage see very onto in bolted of good technology it this for a very

on to including the to there's divisions, A, the XX of, we rollout intend Alta. on of XX do process divisions how so, our things those then and that to out focusing And not -- on more B, things number focusing conversion take a

capture the that things, Kelly, process So, a origination some there that'll result in in system, us Those platform loan things in that for that us like less are allow automates payments loan in are lending. the commercial a teller construction something line system, needs savings like that's will way XXXX. process a going administer to more to efficiently lending will branch. reduce be in the staffing construction we at teller with How

would -- the And all are is is these of so, in you of looking part M&A we're things a lot meaningful at. this cost that I the terms investment, expense. tell upfront of

you not And is to in included so, we to I what will expense transaction see -- a recognized lot have, in is are your probably that think of the that so. underpinning big do do a of won't then most as we we a of expenses. out to deal deal have -- -- in been question. be to A technology, is didn’t It's cliff technologies. in our -- bank, lot figure in has -- because what if expense by buying these if this with and A -- a circumstances

expense there's are that. tech generally implemented, savings starting to to on that benefit the very some XXXX. also in efficiency XXXX. XX% we really good technologies would will see of we'll -- pretty how But that of terms see we think show these in probably depending cost In the maintain pushing be any We're technology, of We don't careful there of our us some range. out XX%,

Kelly Motta

so it. I'll Thank back. you helpful. Got really That was step much.

Randall Chesler

welcome. You're

Operator

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

please. question Your

Matthew Clark

morning gentlemen. Good Yeah.

Randall Chesler

Good morning.

Matthew Clark

us what And was estate. was or trying embedded Just incremental for just not wouldn't the that there in growth another that the that deals growth? commercial the within largest help you sense real loan by on within just quarter are me or few way contributions on quarter? larger any organic for of three larger there size get this one -- to I there? larger -- with came whether where but the the basis in that sense booked footprint to And loans a First a say you is, your ask maybe concentrations, credits for drive affiliate? from an or it Can a not whether give

Randall Chesler

There was Tom color Yeah. growth. makeup your a the Sure. good specifically growth, about broad to more base you of can but little the question give

Tom Dolan

business the immigration, industrial we're CRE for population. of lot warehouse book, seeing the followed the Matthew. a Sure, have growth demand the a still of lot In is moves

seeing So, that. we're

multifamily in also CRE construction to saw as the multifamily well and some related We nice quarter. growth and

of done Certainly, In several nothing in terms stay that line eight came above there over of credits individual of no But million were we've the quarter. what from size $XX the area. some years. credits of that kind through out the the past figure production,

the for in much size that average either. CRE the has and that amount. really tremendous So, part, anticipate don't book about moved $XXX,XXX a -- it we the And is I really loan moving most

Matthew Clark

of very me But That's for the helpful. on that year, if got then, that efficiency step based And wrong. kind this had think in Thank you. to to I'm correct I expenses you range, mentioned guide. maintaining -- in Okay. you've XX% Randy, up ratio XX% the

of cost the year. the the XX% got through the end saves of by coming You've

same I kind double-digit on have the the calls I of a low outlook. NIM mortgage. apologize time You you near-term margin if know of -- on but And don't the of but outlook, of for making if I that's kind any at got it if here, it, around maybe -- lower of growth. you you loan kind kind missed the up some couple comments hit seasonally heard growth, loan and any I

Randall Chesler

maintaining and XXXX. got -- about growth that we very, XX%, Yeah. see the range No XX% our right. I'll you did the target we're -- talk Well, ask Ron comment you want that range very but margin? solid The efficiency we staying to problem. it still in to anticipate margin, Ron, in on

Ron Copher

the we then, see Yeah. The reasons put the quarter the in the high seven-year basis predominantly, to points. able say securities the And -- low high than last rates on rates. quarter, double-digit loan days, higher digit coming to the to of U.S. growth. fourth we're we that shorts, we the what deposits quality quarter. And double with we've in work just up Matthew. treasury the first were at on we did Hi, investment again, those in, single in the said XX but XXX to for in we declining Fourth the we've rate that in just flowing that is margin brought outlook it four treasury particularly able for put the in the picked particularly Well, points margin. movement with had XX -- higher in basis curve, just

range. that incremental very And to securities the put showing is XXX able that So to margin. we're that's to in XXX up our on

So, again, in it put we loan portfolio. to security But put meantime, the into it portfolio. the the want can we into

inflection is line be XXXX, So, efficiency margin. a in the that the We're for range. deposits ratio XXX, in loans low the would we're with that see And we're should on a XXX XX% reported margin, that this somewhere in in have income give to optimistic and ember stay of between net to starting should and well result double-digit point, to interest continue this came It guide slowdown bodes our that growth all across very us [ph] again I good somewhere an in to and say the starting with see the inflection. XX%.

Matthew Clark

moving But we the then, assume what Great. kind a on you should year? what for outlook -- just tax the do housekeeping Thank this you. little rate, And of around bit.

Randall Chesler

a tax high glad very was Yeah. -- want there we comment on -- we're there I asked to was was because going the there. was about say, rate that. there very you consensus, in high taxes, a a did in Because

know, to Ron's near dear So, and are heart. as taxes you

do want to comment those, So, on you Ron?

Ron Copher

Thank I Yeah. do. you. Yeah,

high but economies up the XX.X%, closer to the the rate, year the I going to throughout given XX.X%. the I we're in, year, it'll use in that first up we for discuss. ramp it's ramp just that would quarter. as be as it'll as say we're XX% growth So, would full to the And seeing

Matthew Clark

Thanks Great. call. the for

Operator

turn the to call Sir? to Thank Chesler over for you. back I'd Randy remarks. closing At time, like this

Randall Chesler

thank today. you a everybody morning Right. activity the have -- dialing Latif. again of the month, everybody you we spending and Friday And to We weekend. want the of know this us. and for there's today. in you, lot taking with We dial of appreciate a a We great to time Thank in wish again towards great end thank at for part

Operator

call. participating. concludes this you for Thank today's conference And

You may now disconnect.

Glacier Bancorp (GBCI) 28 Jan 222021 Q4 Earnings call transcript