Glacier Bancorp in Kalispell, Mont., reported higher second-quarter profit from growth in both lending and fee-based services.
The $8.6 billion-asset multibank holding company's net income rose 2% from the same period in 2014, to $29.3 million.
Net interest income rose 6% to $71.2 million. The net interest margin tightened one basis point to 3.98%. Total loans rose 14% to $4.8 billion, as Glacier booked more loans in several categories, including business, commercial real estate, multifamily, agriculture and residential construction.
Fee income rose 15% to $25.8 million on higher deposit service charges an gains on the sale of loans.
Noninterest expense rose 14% to $60 million on higher costs from employee compensation, occupancy, advertising and foreclosed properties. The efficiency ratio worsened by 118 basis points to 55.91%.