Glacier Bancorp Q4 Profit Down

(RTTNews) - Glacier Bancorp, Inc. (GBCI) Thursday reported fourth-quarter net income of $50.71 million or $0.46 per share, down from $81.86 million or $0.86 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.43 per share for the quarter.

Net interest income, on a tax-equivalent basis, excluding the PPP loans, of $184 million, increased 19 percent over the prior quarter net interest income of $154 million.

The loan portfolio, excluding the Payroll Protection Program loans, organically grew $448 million or 16 percent annualized in the current quarter.

Core deposits organically increased $560 million or 13 percent annualized during the current quarter.