Latest news with #RandyChesler
Yahoo
7 hours ago
- Business
- Yahoo
Glacier Bancorp to buy Guaranty Bancshares in $476m deal
Glacier Bancorp is set to significantly expand its footprint in the Southwest with the acquisition of Guaranty Bancshares, the bank holding company for Guaranty Bank & Trust. The all-stock transaction marks Glacier's 27th bank acquisition since 2000 and is expected to close in the fourth quarter of 2025. Guaranty has 33 banking locations across 26 Texas communities situated within the East Texas, Dallas/Fort Worth, Houston and Central Texas regions of the state. Guaranty's assets, loans, and deposits are valued at $3.2bn, $2.1bn, and $2.7bn respectively as of 31 March 2025. The boards of both Glacier and Guaranty have unanimously approved the transaction, which is now pending regulatory and shareholder approvals. Guaranty shareholders are slated to receive one share of Glacier stock for each Guaranty share they hold, valuing the transaction at approximately $476.2m based on Glacier's recent stock price. Once the acquisition is completed, Guaranty Bank & Trust will become a new division within Glacier Bank. Glacier Bancorp president and CEO Randy Chesler said: 'Guaranty fits strategically and culturally within the unique Glacier business model and will allow us to enter a complementary state with an exceptional demographic profile, strong growth prospects, and a business-friendly operating environment. "This acquisition continues our long history of consistently adding high quality community banks to our proven banking model and we are very enthusiastic about the future opportunities this partnership will provide." Guaranty Bancshares chairman and CEO Ty Abston said: 'This partnership gives Guaranty added strength, with the support of a larger balance sheet and the resources to invest in the latest technologies and products to serve our existing and future customers.' "Glacier Bancorp to buy Guaranty Bancshares in $476m deal" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
16 hours ago
- Business
- Yahoo
Glacier Bank to broach Texas in $476.2M Guaranty deal
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Kalispell, Montana-based Glacier Bank has agreed to acquire Mount Pleasant, Texas-based Guaranty Bancorp in an all-stock deal worth roughly $476.2 million, the institutions said Tuesday. The transaction, set to close in the fourth quarter, would give Glacier access to Texas, a coveted market the Montana bank's CEO said would represent the world's eighth-largest economy if it were an independent country. The deal presumably will push Glacier past the $30 billion-asset threshold, infusing the Montana lender with $3.2 billion in assets, $2.1 billion in loans and $2.7 billion in deposits. Buying Guaranty will give Glacier 33 new locations in the Dallas-Fort Worth and Houston metro areas, and east and central Texas. Glacier CEO Randy Chesler called the acquisition 'a compelling opportunity to further expand our presence in the Southwest.' 'Guaranty fits strategically and culturally within the unique Glacier business model and will allow us to enter a complementary state with an exceptional demographic profile, strong growth prospects and a business-friendly operating environment,' Chesler said. 'This acquisition continues our long history of consistently adding high quality community banks to our proven banking model and we are very enthusiastic about the future opportunities this partnership will provide." Glacier is unabashedly acquisitive, touting the Guaranty deal as its 27th purchase since 2000. It's also the second of this year. The Montana bank in January said it would purchase Bank of Idaho for $245.4 million. That transaction closed in May. Once the latest deal closes, Guaranty will operate as 'Guaranty Bank & Trust, Division of Glacier Bank," Glacier said. It would be the Montana lender's 18th bank division. 'We are pleased to find a partner that emphasizes the relationship banking model that has been core to our success over many decades and through many business cycles," Guaranty CEO Ty Abston said Tuesday. 'This partnership gives Guaranty added strength, with the support of a larger balance sheet and the resources to invest in the latest technologies and products to serve our existing and future customers.' Under Tuesday's deal, Guaranty shareholders will receive a share of Glacier stock for each Guaranty share they own. The transaction's $476. 2 million estimated value is based on Glacier's $41.58-per-share closing price from Monday. Abston appeared to indicate Guaranty would operate with its current workforce intact. "We will continue to grow and invest in our communities and our customers will be dealing with the same familiar faces, led by the same management team, in each of our markets,' the CEO said. Glacier counted roughly $28.2 billion in assets when it announced its Bank of Idaho deal. Including the $1.3 billion in assets Glacier stood to gain in that acquisition, the Montana bank could reach $32.7 billion in assets when the Guaranty transaction closes. Not all of Glacier's deals are whole-bank acquisitions. The Kalispell lender bought HTLF Bank's six-branch Montana presence last August. Recommended Reading WaFd to buy Luther Burbank in $654M deal to enter California
Yahoo
2 days ago
- Business
- Yahoo
GBCI Q1 Deep Dive: Margin Expansion and M&A Amid Loan Growth Challenges
Regional banking company Glacier Bancorp (NYSE:GBCI) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 11.1% year on year to $222.6 million. Its non-GAAP profit of $0.48 per share was 4.4% above analysts' consensus estimates. Is now the time to buy GBCI? Find out in our full research report (it's free). Revenue: $222.6 million vs analyst estimates of $225 million (11.1% year-on-year growth, 1.1% miss) Adjusted EPS: $0.48 vs analyst estimates of $0.46 (4.4% beat) Market Capitalization: $4.59 billion Glacier Bancorp's first quarter results were met with a negative market reaction, as revenue missed Wall Street expectations despite double-digit year-over-year growth. Management credited the quarter's results to continued net interest margin expansion, driven by lower deposit costs and higher loan yields, as well as disciplined expense management. CEO Randy Chesler noted the bank's 'solid expense control' and 'excellent' credit performance, but acknowledged that loan balances declined due to accelerated payoffs. Chesler stated, 'We do not expect this trend to continue and still feel good about our loan growth outlook for the year.' Looking ahead, Glacier Bancorp's strategy focuses on sustaining margin improvement, integrating recent acquisitions, and navigating an uncertain economic environment. Management expects structural drivers—such as loan repricing, maturing low-yield investments, and the payoff of high-cost borrowings—to fuel further margin expansion regardless of Federal Reserve action. CFO Ron Copher emphasized a cautious stance on spending given market volatility, while Chief Credit Administrator Tom Dolan highlighted a 'through-the-cycle lens' in underwriting. Chesler added, 'We remain optimistic about the future but want to be prepared if conditions change.' Management attributed first quarter performance to higher loan yields, disciplined expense control, and continued credit quality, while also highlighting the impact of recent and pending acquisitions on future results. Margin expansion continues: The net interest margin rose for the fifth consecutive quarter, surpassing 3% for the first time in two years. Management cited factors like lower deposit costs and higher loan yields, with Chief Investment Officer Byron Pollan stating these improvements are not dependent on Federal Reserve policy changes. Loan balances declined: Despite stronger loan production late in the quarter, total loans decreased due to accelerated payoffs from commercial real estate and multifamily projects achieving stabilization or being sold. Management views the decline as temporary and expects loan growth to resume as headwinds abate and seasonality improves. Credit quality remains strong: Credit performance remained near record levels, with only a single nonaccrual event linked to a management issue rather than broader economic stress. The allowance for credit losses was increased modestly as a precaution, but no material credit deterioration is expected. Expense discipline maintained: Noninterest expense was flat year over year, aided by slower hiring and lower third-party consulting costs. Copher reiterated guidance for stable core expenses excluding merger costs, reflecting a cautious approach amid economic uncertainty. Acquisition activity progresses: The pending Bank of Idaho acquisition is expected to close soon, with management highlighting its strategic fit for expanding Glacier Bancorp's presence in high-growth markets. The deal is anticipated to provide a modest boost to net interest margin and contribute to stable balance sheet growth. Glacier Bancorp's outlook is shaped by expectations for ongoing margin improvement, integration of new acquisitions, and cautious expense management in response to economic uncertainty. Margin drivers remain intact: Management anticipates continued net interest margin expansion through 2025, driven by repricing of existing loans, maturing low-yield investment securities, and repayment of high-cost borrowings. The acquisition of Bank of Idaho is also expected to provide incremental margin lift. Loan growth rebound expected: Although loan balances declined in the first quarter, management is confident that production will improve with stronger pipelines in construction and agriculture lending. Seasonal factors and abating headwinds are expected to support low- to mid-single-digit loan growth for the year. Expense and credit vigilance: The company plans to maintain disciplined expense management, with core noninterest expense guidance excluding merger costs. While credit quality is currently strong, management increased the loan loss reserve as a precaution against potential economic challenges, indicating ongoing vigilance. In the coming quarters, the StockStory team will be watching (1) the pace and success of integrating Bank of Idaho, (2) signs of a sustained rebound in loan growth, particularly in construction and agriculture segments, and (3) evidence that margin expansion can be maintained as high-cost borrowings are repaid. The ability to preserve strong credit quality and control expenses amid ongoing economic uncertainty will also be key performance indicators. Glacier Bancorp currently trades at $41.12, down from $42.50 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it's free). 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