Glacier Bancorp, Inc. (NASDAQ:GBCI) Q4 2019 Earnings Conference Call - Final Transcript

Jan 24, 2020 • 11:00 am ET

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Glacier Bancorp, Inc. (NASDAQ:GBCI) Q4 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Thank you, sir. [Operator Instructions]. And our first question is from Levi Posen with D.A. Davidson. Please go ahead, Levi.

Analyst
Levi Posen

Hi, good morning. This is Levi Posen on for Jeff Rulis.

Executive
Randall M. Chesler

Yeah, good morning.

Analyst
Levi Posen

I wanted to ask about credit. You made some promising improvements this quarter, and I was just wondering if there was anything larger in there or any segments that kind of moved together just to kind of create that lower NPA balance?

Executive
Randall M. Chesler

Yeah. No, we're very, very -- as I noted, very happy with the credit performance. As it relates to NPA going forward, we don't see that level increasing. So, it's staying about that same level. And of course, we're always looking for opportunities to improve it, but I think we'll -- we don't expect that to change much in the foreseeable future.

Analyst
Levi Posen

Okay. Thanks. Also, just to talk a little bit high level heading into 2020 pretty soon here, you'll be at a point where there's three deals that have closed in the last 12 months. Just kind of being on the other side of that change or have any strategic shift in focus on strategy as it relates to capital deployment or kind of where you're able to allocate the focus and direction?

Executive
Randall M. Chesler

No, as it relates to M&A, our strategy and focus hasn't changed at all. So, we had a record year in 2019 with the three transactions that we announced over $2 billion in assets, so that was a record year for us. A lot -- all those transactions, those three were very strategic for us. So, if you think about our acquisition in Utah that really gave us a division platform in that state. That's one of the fastest-growing states in the country for years, so we're very pleased with that.

Our acquisition of Heritage Bank in Reno gave us a platform and a -- with a terrific bank, one of the top-performing community banks in the country in a very, very strong market, where we like the growth prospects very much. And our announced deal in Arizona really positions us well, I think, in a very, very solid state, with a franchise now that will cover pretty much all the core markets in the state. So, very happy with those, and we're going to look to do more of that going forward.

Analyst
Levi Posen

Okay. Thank you. That's all I had. So I'll sit back. Thanks.

Executive
Randall M. Chesler

Yeah. All right. You're welcome.

Operator
Operator

Thank you. And our next question comes from Michael Young with SunTrust. Please go ahead.

Analyst
Michael Young

Hey, good morning everyone.

Executive
Randall M. Chesler

Good morning, Michael.

Analyst
Michael Young

Randy, wanted to maybe start with the loan growth outlook. You mentioned the market cooling, and I was curious if you could maybe give some geographic specificity to that? And also, if you could help us understand, if any of that's coming from either just the larger overall size of the balance sheet now, or any specific pay downs from any of the acquisitions that have been made recently?