Glacier Bancorp, Inc. (GBCI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Glacier Bank Corp first quarter earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Randy Chesler, President and CEO of Glacier Bancorp. Please go ahead. Well, good morning and thank you for joining us today. With me here in Kalispell is Ron Cofer, our Chief Financial Officer, Tom Dolan, our Chief Credit Administrator, Angela Dosey, our Chief Accounting Officer, Jeff Meredith, our chief investment officer, and joining us on the phone is Byron Pollin, our treasurer. I'd like to point out that the discussion today is subject to the same forward-looking considerations outlined starting on page nine of our press release, and we encourage you to review this section. The positive trend of margin expansion driven by lower deposit costs and higher loan yields continued in the first quarter. Expense control was solid and credit performance continued to be excellent. Diluted earnings per share for the current quarter was $0.48 per share, an increase of 66% from the prior year first quarter diluted earnings per share. Net income was $54.6 million for the current quarter, an increase of $21.9 million, or 67%, from the prior year first quarter net income. The net interest margin as a percentage of earning assets on a tax equivalent basis for the current quarter was 3.04%. an...