Profile: Glacier Bancorp Inc (GBCI.O)
13 Jul 2018
Glacier Bancorp, Inc., incorporated on March 5, 2004, is a bank holding company. The Company provides commercial banking services. As of January 26, 2018, it provided banking services from 146 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services. The Company serves individuals, small to medium-sized businesses, community organizations and public entities.
The Company focuses its lending activities primarily on various types of loans, including first-mortgage, conventional loans secured by residential properties, particularly single-family; commercial lending, including agriculture that concentrates on targeted businesses, and installment lending for consumer purposes, including home equity and automobile. The Company's residential real estate loans consist of the origination of both construction and permanent loans on residential real estate. The Company solicits residential real estate loan applications from real estate brokers, contractors, existing customers, customer referrals and online applications. The Company also provides interim construction financing for single-family dwellings. These loans are supported by a term take-out commitment. The Company originates land and lot acquisition loans to borrowers to construct their primary residence on the respective land or lot. Its unimproved land and land development loans are originated on properties for residential and commercial use. Its builder guidance lines consist of pre-sold and spec-home construction and lot acquisition loans. Its commercial real estate loans are made to purchase, construct and finance commercial real estate properties. Its consumer loans are secured by real estate, automobiles or other assets.
The Company's investment securities are classified as available-for-sale and held-to-maturity. The Company's investment portfolio consists of state and local government securities, and residential mortgage-backed securities. As of December 31, 2016, the Company's investment securities available-for-sale included $2,425.4 million. As of December 31, 2016, its investment securities held-to-maturity included $675.6 million.
Sources of Funds
The Company's deposits are the principal source of funds for use in lending and other business purposes. The Company also obtains funds from repayment of loans and investment securities, securities sold under agreements to repurchase, wholesale deposits, advances from Federal Home Loan Bank (FHLB) and other borrowings. The Company has various deposit programs, which include non-interest bearing demand accounts, interest bearing checking, savings, money market deposit accounts, fixed rate certificates of deposit with maturities ranging from 3 months to 5 years, negotiated-rate jumbo certificates, and individual retirement accounts. These deposits are obtained primarily from individual and business residents in the Bank's geographic market areas. In addition, wholesale deposits are obtained through various programs and include brokered deposits classified as negotiable order of withdrawal (NOW) accounts, money market deposit and certificate accounts. The Company's short-term borrowing sources include FHLB advances, federal funds purchased and retail and wholesale repurchase agreements. The Company also has access to the short-term discount window borrowing programs of the Federal Reserve Bank. As of December 31, 2016, the Company's total deposits included $7,372 million.
Glacier Bancorp Inc
49 Commons Loop
KALISPELL MT 59901-2679