Glacier Bancorp Q3 net income jumps on higher loan yields
GBCI•Glacier Bancorp's third-quarter net income rose 54% year over year to a record $104.56 million. Diluted earnings per share increased 40% to $0.80, while net interest income rose 29% to $290 million and net interest margin reached 4.01%.
1. Quarterly results
Glacier Bancorp said third-quarter net income rose 54% year over year to a record $104.56 million, and diluted earnings per share increased 40% to $0.80. Net interest income climbed 29% to $290 million, while net interest margin improved to 4.01%.
2. Drivers and outlook
The company attributed the margin improvement to higher loan yields, a shift toward higher-yielding loans, lower deposit costs and reduced high-cost borrowings. It said results also benefited from loan and deposit growth; it did not provide specific financial guidance for upcoming quarters or the full year.
