 2nd Quarter 2020 Highlights: Net income of 63.4 million for the current quarter, an increase of 11.1 million, or 21 percent, over the prior year second quarter net income of 52.4 million. Current quarter diluted earnings per share of 0.66, an increase of 8 percent from the prior year second quarter diluted earnings per share of 0.61. The Company originated U.S. Small Business Administration SBA Payroll Protection Program PPP loans for businesses in its communities. The Company funded 15,291 PPP loans in the amount of 1.427 billion. The loan portfolio organically increased 1.365 billion, or 14 percent, in the current quarter and increased 1.545 billion, or 17 percent, from the prior year second quarter. Core deposits increased 1.818 billion, or 16 percent, during the current quarter, with non-interest bearing deposit growth of 1.168 billion, or 30 percent. Debt security income of 25.8 million increased 4.8 million, or 23 percent, over the prior quarter and increased 3.9 million, or 18 percent, over the prior year second quarter. Gain on sale of loans of 25.9 million, increased 14.0 million, or 118 percent, over the prior quarter and increased 18.1 million, or 233 percent, compared to the prior year second quarter. Interest expense of 7.2 million decreased 1.3 million, or 15 percent, over the prior quarter and decreased 4.9 million, or 41 percent, compared to the prior year second quarter. Non-performing assets as a percentage of subsidiary assets was 0.27 percent, which compared to 0.26 percent in the prior quarter and 0.41 percent in the prior year second quarter. Early stage delinquencies accruing 30-89 days past due as a percentage of loans in the current quarter was 0.22 percent, which compared to 0.41 percent in the prior quarter and 0.43 percent in the prior year second quarter. During the current quarter, SP Dow Jones Indices selected the Company to transition from the SP SmallCap 600 to the SP MidCap 400. Declared a quarterly dividend of 0.29 per share. The Company has declared 141 consecutive quarterly dividends and has increased the dividend 45 times.First Half 2020 Highlights: Net income of 106.8 million for the first half of 2020, an increase of 5.3 million, or 5 percent, over the first half of 2019 net income of 101.5 million. Diluted earnings per share of 1.13, a decrease of 5 percent from the prior year first six months diluted earnings per share of 1.19. The loan portfolio organically grew 1.489 billion, or 16 percent, during the first six months of 2020. Core deposits organically increased 2.0 billion, or 19 percent, during the first half of 2020, with non-interest bearings deposit growth of 1.2 billion, or 33 percent. Gain on sale of loans of 37.7 million, increased 24.2 million, or 178 percent, compared to the prior year first half. Dividends declared of 0.58 per share, an increase of 0.05 per share, or 9 percent, over the prior year first six months dividends of 0.53. On February 29, 2020, the Company completed the acquisition of State Bank Corp., the parent company of State Bank of Arizona, a community bank based in Lake Havasu City, Arizona with total assets of 744 million.Financial Highlights At or for the Three Months ended At or for the Six Months ended Dollars in thousands, except per share and market dataJun 30, 2020 Mar 31, 2020 Jun 30, 2019 Jun 30, 2020 Jun 30, 2019 Operating results Net income63,444 43,339 52,392 106,783 101,524 Basic earnings per share0.67 0.46 0.61 1.13 1.19 Diluted earnings per share0.66 0.46 0.61 1.13 1.19 Dividends declared per share 10.29 0.29 0.27 0.58 0.53 Market value per share Closing35.29 34.01 40.55 35.29 40.55 High46.54 46.10 43.44 46.54 45.47 Low30.30 26.66 38.65 26.66 37.58 Selected ratios and other data Number of common stock shares outstanding95,409,061 95,408,274 86,637,394 95,409,061 86,637,394 Average outstanding shares - basic95,405,493 93,287,670 85,826,290 94,346,582 85,191,658 Average outstanding shares - diluted95,430,403 93,359,792 85,858,286 94,395,930 85,241,238 Return on average assets annualized1.57 1.25 1.69 1.42 1.68 Return on average equity annualized11.68 8.52 12.82 10.15 12.91 Efficiency ratio49.29 52.55 54.50 50.81 54.93 Dividend payout ratio43.28 63.04 44.26 51.33 44.54 Loan to deposit ratio86.45 88.10 90.27 86.45 90.27 Number of full time equivalent employees2,954 2,955 2,703 2,954 2,703 Number of locations192 192 175 192 175 Number of ATMs251 247 228 251 228 KALISPELL, Mont., July 23, 2020 GLOBE NEWSWIRE -- Glacier Bancorp, Inc. NASDAQ:GBCI reported net income of 63.4 million for the current quarter, an increase of 11.1 million, or 21 percent, from the 52.4 million of net income for the prior year second quarter. Diluted earnings per share for the current quarter was 0.66 per share, an increase of 8 percent from the prior year second quarter diluted earnings per share of 0.61. Included in the current quarter was 3.7 million of acquisition-related expenses. The Glacier team delivered outstanding results despite the continuing pandemic and the resulting challenging environment. The team did an exceptional job servicing our customers and communities by making over 15,000 Paycheck Protection Program loans for over 1.5 billion, said Randy Chesler, President and Chief Executive Officer. We remain confident that our significant liquidity, high quality loan portfolio, strong balance sheet and solid core business, positions us to successfully respond to a full range of future possible economic conditions.Net income for the six months ended June 30, 2020 was 106.8 million, an increase of 5.3 million, or 5 percent, from the 101.5 million net income from the first six months of the prior year. Diluted earnings per share for the first half of the current year was 1.13 per share, a decrease of 5 percent, from the diluted earnings per share of 1.19 for the same period last year.The Company continues to navigate through the coronavirus disease of 2019 COVID-19 pandemic to ensure the safety of its employees and customers along with monitoring credit quality and protecting shareholder value. The Companys pandemic team remains flexible in responding to the changing conditions in all the markets that it serves. In order to meet the needs of customers impacted by the pandemic, the Company has contacted customers to assess their needs and provide funding, flexible repayment options or modifications as necessary. During the current quarter, the Company modified 3,054 loans in the amount of 1.515 billion primarily with short-term payment deferrals under six months.In addition, the Company originated SBA PPP loans for businesses in its communities. The Company funded 15,291 PPP loans in the amount of 1.427 billion during the current quarter. These loans provided an additional 7.3 million of interest income including net deferred fees and costs during the current quarter and 8.4 million of deferred compensation costs for a total increase in income of 15.7 million 11.7 million net of tax.During the current quarter, SP Dow Jones Indices selected the Company to transition from the SP SmallCap 600 to the SP MidCap 400 effective prior to the opening trading on Monday, June 22, 2020. The SP MidCap 400 index consists of 400 companies that are chosen with regard to market capitalization, liquidity and industry representation.On February 29, 2020, the Company completed the acquisition of State Bank Corp., the parent company of State Bank of Arizona, a community bank based in Lake Havasu City, Arizona collectively, SBAZ. SBAZ provides banking services to individuals and businesses in Arizona with ten banking offices located in Bullhead City, Cottonwood, Kingman, Lake Havasu City, Phoenix, Prescott Valley and Prescott. Upon closing of the transaction, SBAZ merged into the Companys Foothills Bank division, which expanded the Companys footprint in Arizona to cover all major markets in the state and be a leading community bank in Arizona. 