Kalispell, Mont.-based Glacier Bancorp Inc. reported third-quarter net income of $51.6 million, or 57 cents per share, up from $49.3 million, or 58 cents per share, in the year-ago period.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 59 cents.
Results for the most recent quarter include acquisition-related expenses of $2.1 million and $5.4 million of stock compensation expense related to the accelerated vesting of stock options from the Heritage Bancorp acquisition.
The company had total assets of $13.72 billion on Sept. 30, compared to $12.68 billion at the end of the quarter ended June 30, and $11.91 billion at Sept. 30, 2018.
The company's net interest margin was 4.42%, compared to 4.33% in the second quarter and 4.26% a year ago. Net charge-offs were $3.5 million for the third quarter, compared to $2.2 million in the year-ago period. The increase was primarily centered in one loan with a $1.9 million loss resulting from a negotiated short-sale. There was no current or prior-quarter provision for loan losses, compared to $3.2 million in the 2018 third quarter.