Glacier Bancorp, Inc. (NYSE:GBCI) Q4 2022 Earnings Conference Call January 27, 2023 11:00 AM ET
Company Participants
Randy Chesler - President & CEO
Ron Copher - CFO
Tom Dolan - Chief Credit Administrator
Byron Pollan - Treasurer
Conference Call Participants
Jeff Rulis - D.A. Davidson
Kelly Motta - KBW
Operator
Good day, and thank you for standing by. Welcome to the Glacier Bancorp Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is recorded.
I'd now like to hand the conference over to your speaker today, Randy Chesler, President and CEO of Glacier Bancorp. Please go ahead.
Randy Chesler
All right. Thank you, Victor, and good morning, and thank you for joining us today.
With me here in Kalispell this morning is Ron Copher, our Chief Financial Officer; Don Chery, our 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 13 of our press release and we encourage you to review this section.
I'll start with a few new data points about our community banking markets. The eight Western states, which represent our footprint, are among the most dynamic in the country, include Montana, Idaho, Eastern Washington, Wyoming, Utah, Colorado, Nevada and Arizona.
Our eight state average income and GDP growth rate exceeds the national average and the average eight state unemployment rate is below the national average.
USAFacts reports that Idaho's population has grown by 46% from 2000 to 2021.
US News states that Washington as the third best business environment in the United States. In The Tax Foundation's State Business Tax Climate Index ranks Utah eighth in the nation, Montana fifth and Wyoming number one.
I'll touch on some of the business highlights first and then provide some additional thoughts on the quarter.
Net income for the quarter was $79.7 million, an increase of $339,000 from the prior quarter net income of $79.3 million. For the full year, the company had record net income of $303 million, an increase of $18.4 million or 6% compared to 2021.
Pre-tax pre-provision net revenue was $103.6 million versus the prior quarter of $105.7 million, a decrease of $2.1 million or 2%. However, pre-tax pre-provision net revenue was up $15.6 million or 18% compared to the fourth quarter a year ago.