Glacier Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, total interest income was $59,666,000 against $68,741,000 a year ago. Net interest income after provision for loan losses was $49,226,000 against $49,869,000 a year ago. Income before income taxes was $26,611,000 against $16,756,000 a year ago. Net income was $20,758,000 against $14,348,000 a year ago. Diluted earnings per share were $0.29 against $0.20 a year ago. Operating net income (non-GAAP) was $20,758,000 against $14,348,000 a year ago. Diluted operating earnings per share was (non-GAAP) was $0.29 against $0.20 a year ago. Return on average assets (annualized) (GAAP) was 1.06% against 0.80% a year ago. Return on average assets (annualized) (non-GAAP) was 1.06% against 0.79% a year ago. Return on average equity (annualized) (GAAP) was 9.17% against 6.69% a year ago. Return on average equity (annualized) was (non-GAAP) was 9.17% against 6.45% a year ago. Book value per common share was $12.52 against $11.82 a year ago. Tangible book value per common share was $10.96 against $10.23 a year ago.


For the year, total interest income was $253,757,000 against $280,109,000 a year ago. Net interest income after provision for loan losses was $196,518,000 against $171,115,000 a year ago. Income before income taxes was $94,593,000 against $17,190,000 a year ago. Net income was $75,516,000 against $17,471,000 a year ago. Diluted earnings per share were $1.05 against $0.24 a year ago. Operating net income (non-GAAP) was $75,516,000 against $50,084,000 a year ago. Diluted operating earnings per share was (non-GAAP) was $1.05 against $0.70 a year ago. Return on average assets (annualized) (GAAP) was 1.01% against 0.25% a year ago. Return on average assets (annualized) (non-GAAP) was 1.01% against 0.72% a year ago. Return on average equity (annualized) (GAAP) was 8.54% against 2.04% a year ago. Return on average equity (annualized) was (non-GAAP) was 8.54% against 5.78% a year ago. Book value per common share was $0.15 against $0.70 a year ago. Tangible book value per common share was $0.15 against $0.73 a year ago.

The company reported net charge-offs for the fourth quarter ended December 31, 2012. Net charged-off loans during the current quarter of $8.1 million increased $4.6 million, or 131%, compared to the prior quarter and was attributable to the company disposing of distressed assets during the fourth quarter of 2012.