GBCI - Can This Regional Bank in the Rockies Keep Winning in 2021?
When Congress passed the Paycheck Protection Program (PPP) last year to help alleviate the economic pressure caused by the pandemic, banks were tasked with helping distribute the loans. However, distributing hundreds of billions of dollars in loans is no easy feat, and some did this job better than others.
One bank that saw a lot of success with the program is Glacier Bancorp (NASDAQ: GBCI) , a regional bank located in the Rocky Mountain region of the U.S. Glacier processed 13,000 PPP loans, and its role in the lending program helped it build up thousands of new relationships with small businesses in its region. Not only that, but the bank is situated in a very advantageous location with strong growth, as seen by housing demand. Its presence in states like Idaho, Montana, Utah, and Arizona makes it perfectly positioned to take advantage of the migration that started last year.
Image source: Getty Images.
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Can This Regional Bank in the Rockies Keep Winning in 2021?