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Glacier Bancorp reports 4th quarter earnings up

Glacier Bancorp Inc. reported net income of $31 million for the fourth quarter of 2016, an increase of $1.5 million, or 5 percent, from the $29.5 million of net income for the prior year fourth quarter. Diluted earnings per share for the quarter was $0.41 per share, an increase of 5 percent, from the prior year fourth quarter diluted earnings per share.

Included in the current quarter was $368,000 of acquisition-related expenses and $749,000 of expenses related to the company’s consolidation of its bank divisions’ core database systems, including expenses related to the re-issuance of debit cards with chip technology.

“The fourth quarter represents a strong finish for Glacier Bancorp and completes a very good year,” Randy Chesler, president and chief executive officer, said in a press release. “Our 13 bank divisions and the supporting staff groups did an excellent job staying focused on the customer and delivering top quality results, led by record earnings, strong loan growth, stable margins and good credit performance.”

Net income for the year ending Dec. 31 was $121 million, an increase of $5 million, or 4 percent, from the $116 million of net income for the prior year. Diluted earnings per share for 2016 was $1.59 per share, an increase or 3 percent for the same period in the prior year.

During the fourth quarter of 2016, the company announced the signing of a definitive agreement to acquire TFB Bancorp, Inc., the holding company for The Foothills Bank, a community bank based in Yuma, Arizona. As of Dec. 31 Foothills had total assets of $335 million, total loans of $280 million and total deposits of $284 million. The acquisition is subject to required regulatory approvals and other customary conditions of closing and is expected to be completed during the second quarter of 2017.

Leadership Flathead recruiting for 2018

Leadership Flathead, the Kalispell Chamber of Commerce’s leadership development program, is now accepting applications for the Class of 2018. Businesses and organizations interested in sending an individual through the program can find more information and complete the application process at www.kalispellchamber.com/leadershipflathead-apply by May 1.

The program requires a two-year commitment from participants. The Class of 2018 will begin with an overnight development retreat in September, followed by nine monthly skills-building sessions through June 2018. To supplement the training they receive during the first year participants are then expected to assume a new leadership role with a community organization or engage in a community-based project of their choosing during the second year of the program.

Leadership Flathead is intricately designed to develop tangible leadership skills, increase awareness of significant local issues, and build a tight-knit network of community leaders all while strengthening the ability of current and emerging leaders to spearhead positive change in the Flathead Valley.

Throughout the course of the program a variety of custom designed sessions from community and industry leaders focus on topics such as education and workforce training, public safety, culture and tourism, human services, and planning, growth and government. Additionally, a skills-building theme is integrated into each of the sessions and include activities that reflect conflict resolution, strategic planning, organizational change and collaboration.

For more information on Leadership Flathead, contact Program Manager Diane Morton Stout at leadershipflathead@kalispellchamber.com or 406-758-2810.