Glacier Bancorp, Inc. (NYSE:GBCI) Q1 2023 Earnings Conference Call April 21, 2023 11:00 AM ET
Company Participants
Randy Chesler - President and Chief Executive Officer
Ron Copher - Chief Financial Officer
Byron Pollan - Treasurer
Tom Dolan - Chief Credit Administrator
Conference Call Participants
David Feaster - Raymond James
Kelly Motta - KBW
Jeff Rulis - D.A. Davidson
Brandon King - Truist Securities
Andrew Terrell - Stephens
Matthew Clark - Piper Sandler & Co.
Operator
Good day and thank you for standing by. Welcome to the Glacier Bancorp First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there'll be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Mr. Randy Chesler, President and CEO of Glacier Bancorp. You may begin.
Randy Chesler
All right, thank you, Catherine, and good morning, and thank you all for joining us today. With me here in Kalispell this morning is Ron Copher, our Chief Financial Officer; Don Chery, Chief Administrative Officer; Angela Dose, our Chief Accounting Officer; Byron Pollan, our Treasurer; and Tom Dolan, our Chief Credit Administrator.
I'd like to point out that the discussion today is subject to the same forward-looking considerations found on Page 10 of our press release and we encourage you to review this section.
The failure of Silicon Valley Bank and Signature Bank last month created a lot of concerns about the banking industry. Overall, I'm pleased to report the Glacier team did an excellent job managing through the rapidly changing environment over the past few weeks, and we believe our unique business model weathered the storm very well. Our local relationship based approach to community banking proved to be extremely stable.
Our 17 separate and distinct bank brands operating in 222 locations across eight Western states provided further insulation from the events unfolding outside our markets. Deposits grew during March, which was when the banking crisis started, and was the period when the system was under the most stress. While many customers were concerned about safety of their deposits, talking about it with their banker who they know and trust resolved most of the concerns.
Our deposit base has a high degree of balance and granularity. We have over 600,000 retail accounts with an average balance of 14,000; over 150,000 commercial accounts with an average balance of 63,000. These relationships are spread out over eight states, 75% in rural markets, and 25% in metro markets with about 60% of the accounts with us over five years.