Glacier Bancorp, Inc. (NYSE:GBCI) Q3 2023 Earnings Call Transcript

Matthew Clark: Okay. And then on just back to the deposit beta conversation through the cycle, we get a five handle now on the 10-year, which I’m assuming might wake up some people. Can you just talk through your strategy and how you might handle people looking to gravitate or kind of resume that trend that we saw earlier this year? Are you willing to pay up? Or will you let some of that money go?

Randy Chesler: Yeah. No, that’s going to be interesting. You’re right about these inflection points. 4% was a big wake-up call. 5%, just don’t know how much of the anxious money has moved. And I would say the bulk of it is already positioned. But there’s all — that will create some more reflection, no doubt about it, if it sticks and grows, from there. I think we’re firmly in the mode of retaining and growing deposits now. We initially were slow to react because we wanted to see where this is going to play out. But we feel like it’s a pretty clear picture. Now I think higher for longer is very likely, and it’s easier to retain the customers you have than let them go and try to bring them back later.

Matthew Clark: Okay, great. Thank you.

Operator: Thank you. At this time, I’d like to turn the conference back to Mr. Randall Chesler for closing remarks.

Randy Chesler: Okay. Thank you, Norma. We appreciate everybody dialing in, having a conversation about how the quarter went, very happy with it, and we hope you all have a great Friday and a great weekend. Thank you.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.