As of Monday, January 29, 2018
KALISPELL, Mont. – Glacier Bancorp, parent company of North Cascades Bank, has announced fourth quarter 2017 financial highlights.
The bank reported net income of $34.7 million for the quarter, an increase of $3.7 million over the prior year’s fourth quarter net income of $31.0 million, excluding the impact of the federal Tax Act. Including the impact from the Tax Act, net income was $15.0 million.
Current quarter diluted earnings per share were 44 cents, an increase of 7 percent from the prior year’s fourth quarter diluted earnings per share of 41 cents, excluding the impact of the Tax Act. Including the impact from the Tax Act, diluted earnings per share was 19 cents.
The bank declared and paid a regular quarterly dividend of 21 cents per share. The dividend was the 131st consecutive quarterly dividend.
The company announced an agreement had been signed to acquire Inter-Mountain Bancorp Inc., the holding company for First Security Bank, a community bank in Bozeman, Mont.
Locally, North Cascades Bank operates branches in Brewster, Grand Coulee, Okanogan, Omak and Twisp.