With me here in Kalispell this morning is Ron Copher, our chief financial officer; Don Chery, our chief administrative officer; Angela Dose, our chief officer; Byron Pollan, our treasurer; and Tom Dolan, our chief credit administrator. The Tax Foundation recently published the 2022 tax climate index and all eight of the states in which we operate were in the top 20 most favorable markets.
Glacier Bancorp (GBCI) delivered earnings and revenue surprises of 0% and 1.83%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
2nd Quarter 2022 Highlights: Net income was $76.4 million for the current quarter, an increase of $8.6 million, or 13 percent, from the prior quarter net income of $67.8 million.The loan portfolio, excluding the Payroll Protection Program (“PPP”) loans, grew $714 million, or 21 percent annualized, in the current quarter.Net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.23 percent compared to 3.20 percent in the prior quarter. The core