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Glacier Bancorp Glacier Bancorp , Inc. Announces Results for the Quarter Ended March 31 , 2021 April 22 , 2021 • Net income of $ 80.8 million , an increase of $ 37.5 million , or 86 percent , over the prior year first quarter net income of $ 43.3 million . • Diluted earnings per share of $ 0.85 , an increase of 85 percent from the prior year first quarter diluted earnings per share of $ 0.46 . • Gain on sale of loans of $ 21.6 million , increased $ 9.8 million , or 82 percent , compared to the prior year first quarter . • Non - interest expense of $ 96.6 million , decreased $ 14.6 million , or 13 percent , compared to the prior quarter and increased $ 1.1 million , or 1 percent , from the prior year first quarter . • Bank loan modifications related to the coronavirus disease of 2019 ( " COVID - 19 " ) decreased $ 13.5 million from the prior quarter and decreased $ 1.433 billion from the second quarter of 2020 to $ 81.3 million , or 79 basis points of loans excluding the Payroll Protection Program ( " PPP " ) loans . • Non - performing assets as a percentage of subsidiary assets was 0.19 percent , which compared to 0.19 percent in the prior quarter and 0.26 percent in the prior year first quarter . • Core deposits increased $ 1.307 billion , or 35 percent annualized , during the current quarter and increased $ 4.571 billion , or 40 percent , from the prior year first quarter . • The loan portfolio increased $ 147 million , or 5 percent annualized , in the current quarter and increased $ 1.182 billion , or 12 percent , from the prior year first quarter . • The Company funded 6,500 PPP loans in the amount of $ 487 million during the current quarter . • The Company received $ 426 million in PPP loan forgiveness from the U.S. Small Business Administration ( " SBA " ) during the current quarter . • Declared a quarterly dividend of $ 0.31 per share , an increase of $ 0.01 per share or 3 percent over the prior quarter regular dividend . The Company has declared 144 consecutive quarterly dividends and has increased the dividend 47 times . Financial Summary ( Dollars in thousands , except per share and market data ) Operating results Net income Basic earnings per share Diluted earnings per share Dividends declared per share 1 Market value per share Closing High Low Selected ratios and other data Number of common stock shares outstanding Average outstanding shares - basic Average outstanding shares - diluted Return on average assets ( annualized ) Return on average equity ( annualized ) Efficiency ratio Dividend payout ratio 2 Mar 31 , 2021 At or for the Three Months ended Dec 31 , 2020 Mar 31 , 2020 $ 80,802 81,860 43,339 $ 0.85 0.86 0.46 $ 0.85 0.86 0.46 $ 0.31 0.45 0.29 ᏌᏊ Ꮜ Ꮜ $ 57.08 46.01 34.01 $ 67.35 47.05 46.10 $ 44.55 31.29 26.66 95,501,819 95,465,801 95,426,364 95,418,958 95,408,274 93,287,670 95,546,922 95,492,258 93,359,792 1.73 % 1.78 % 1.25 % 14.12 % 14.27 % 8.52 % 46.75 % 50.34 % 54.65 % 36.47 % 52.33 % 63.04 %