Glacier Bancorp Q3 Profit Down

(RTTNews) - Glacier Bancorp, Inc. (GBCI) Thursday reported third-quarter net income of $75.6 million or $0.79 per share, down from $77.8 million or $0.81 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.71 per share for the quarter.

Net interest income, excluding the PPP loans, was $154 million in the third quarter, an increase of 3 percent from last year's $150 million.

The company received $327 million in PPP loan forgiveness proceeds from the U.S. Small Business Administration during the current quarter compared to $350 million in the prior quarter.