Curious about Glacier Bancorp net worth in 2024? We’ve got the inside scoop. From asset growth to the latest financial performance, Ando Money breaks down everything you need to know.
Explore key metrics, loan portfolio insights, and more to stay up-to-date on one of the leading regional banks.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Glacier Bancorp |
| Full Name | Glacier Bancorp, Inc. |
| Traded as | NYSE: GBCI |
| ISIN | US37637Q1058 |
| Founded | 1990 |
| Founders | N/A |
| Country/Territory | United States |
| Headquarters | Kalispell, Montana |
| Chief Executive Officer | Randall M. Chesler |
| Number of Employees | 3,552 (2022) |
| Market Cap | $4.23 billion (2024) [estimated] |
| Total Assets | $27.8 billion (2024) |
| Total Equity | $3.137 billion (2024) |
| Revenue | $553 million (first half of 2024) |
| Net Income | $44.7 million (Q2 2024) |
What is the Net Worth/ Market Cap Of Glacier Bancorp in 2024?
As of 2024, Glacier Bancorp has an estimated market capitalization of $4.23 billion. This figure reflects the company’s substantial growth and strategic acquisitions, such as the purchase of Wheatland Bank, which boosted its assets to $27.8 billion.
Comparatively, Glacier Bancorp’s market cap places it among mid-sized regional banks in the United States, though still behind some of the largest institutions globally.
However, its strong focus on community banking and consistent dividend payouts make it a reliable choice for investors.
Here’s a quick look at some other banks in the same sector:
- U.S. Bancorp
- KeyBank
- Zion’s Bancorp
- Wells Fargo
- Fifth Third Bank
- Huntington Bancshares
- Citizens Financial Group
For a deeper dive into how Glacier Bancorp compares with the largest financial institutions globally, explore further on AndoMoney.
Financial Performance Overview
Key Financial Metrics
Glacier Bancorp has demonstrated strong financial growth over the past few years, with a focus on expanding its loan portfolio and managing assets effectively.
As of June 30, 2024, its total assets stand at $27.8 billion, with a loan portfolio totaling $16.85 billion.
This loan portfolio has shown a 3% annualized growth, driven primarily by increases in commercial real estate loans and consumer loans.
Its loan yield, a crucial indicator of profitability, increased to 5.58% in Q2 2024, up from 5.46% in the previous quarter.
These increases, while modest, are significant in contributing to the bank’s overall revenue growth.
Additionally, Glacier Bancorp’s non-performing assets have decreased to $18 million, a reduction of 29% from the previous quarter, which highlights the bank’s improvement in credit quality and asset management.
Loan Portfolio and Its Impact on Revenue
The loan portfolio is a cornerstone of Glacier Bancorp’s business, contributing significantly to its financial success.
As of Q2 2024, the bank’s loan portfolio saw growth, particularly in areas like residential real estate and commercial loans.
This resulted in higher interest income, with the total interest income for the quarter reaching $273.8 million.
Loan yields are a critical aspect of Glacier Bancorp’s strategy. With a 5.58% loan yield, the bank has managed to enhance its profitability, largely through strategic lending to commercial clients and real estate investments.
These efforts have translated into a net interest margin of 2.68%, which saw a slight increase from the previous quarter, reflecting improved cost management and lending efficiency.
Core Deposits and Financial Stability
A major factor in Glacier Bancorp’s stability is its core deposits, which amounted to $20.1 billion as of Q2 2024. These deposits provide the bank with a steady, low-cost source of funds.
Non-interest-bearing deposits form a significant part of this, standing at $6.093 billion, which represents 30% of total deposits. These figures help the bank maintain liquidity and manage the cost of funding effectively.
Additionally, the Federal Home Loan Bank advances of $2.35 billion provide Glacier Bancorp with a buffer, enabling the bank to manage its financial obligations while expanding its loan operations.
Influence of Acquisitions on Financial Growth
Acquisitions have played a pivotal role in Glacier Bancorp’s growth strategy. The recent acquisition of Wheatland Bank, completed in January 2024, added $778 million in assets, strengthening the bank’s presence in the Pacific Northwest.
The integration of Wheatland into Glacier Bancorp’s existing framework has not only expanded its customer base but also bolstered its loan portfolio and regional reach.
In addition to Wheatland, the bank has a history of acquiring community banks that align with its mission of serving small to medium-sized businesses.
Each acquisition has contributed to a growth in assets and market share, positioning the bank as a major player in regional banking.
Non-Performing Assets and Credit Quality
One of the highlights of Glacier Bancorp’s financial performance in 2024 has been the significant reduction in non-performing assets.
As of Q2 2024, non-performing assets totaled $18 million, down from $25.4 million in the previous quarter.
This reduction is critical in improving the bank’s overall credit quality and freeing up capital for future lending opportunities.
The decrease in non-performing loans has also positively impacted the allowance for credit losses, which remained stable at 1.19% of total loans.
This balance between managing loan risk and maintaining credit quality has helped Glacier Bancorp optimize its lending strategy.
Interest Income and Expense
Interest income is another key contributor to Glacier Bancorp’s overall revenue.
For the second quarter of 2024, the bank generated $273.8 million in interest income, driven by the growth in its loan portfolio. This represents an 11% increase over the prior year, thanks to higher loan yields and strategic lending practices.
On the flip side, interest expenses have also risen, largely due to increased borrowing costs.
The bank’s total interest expense for Q2 2024 was $107.4 million, a reflection of the higher rates on deposits and external funding sources like the Federal Home Loan Bank advances.
Despite the rise in costs, Glacier Bancorp’s net interest income remained strong at $166.4 million, with a net interest margin of 2.68%, indicating the bank’s ability to manage its funding costs effectively.
Dividend Payments and Stockholder Returns
For investors, the bank has been a reliable source of consistent dividends. As of Q2 2024, the bank declared its 157th consecutive quarterly dividend of $0.33 per share.
This commitment to regular dividend payments highlights the bank’s stability and dedication to providing value to its shareholders.
FAQs about Glacier Bancorp
What services does the bank provide?
The bank offers retail banking, commercial banking, real estate lending, and consumer loans. It also provides mortgage origination, loan servicing, and agricultural loans.
How does the bank generate revenue?
The bank earns through loan interest, deposit accounts, and fees from financial services. It profits from its loan portfolio and non-interest income such as service fees.
What is Glacier Bancorp’s dividend policy?
The bank has declared 157 consecutive quarterly dividends with a current dividend per share of $0.33.
What is Glacier Bancorp’s loan portfolio size?
The bank’s loan portfolio totals $16.85 billion. This includes residential real estate, commercial real estate, and consumer loans.
How has the bank managed credit quality?
The bank decreased non-performing assets by 29% in 2024, keeping the allowance for credit losses at 1.19% of total loans.
Conclusion
Glacier Bancorp continues to grow, with strong financial performance in 2024.
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