Glacier Bancorp's (GBCI) earnings per share will likely decline this year due to the company's exposure to the hospitality and tourism industry that will boost provisions expenses. Additionally, the acquisition of State Bank of Arizona will drive non-interest expenses, which will further drag earnings. On the other hand, the merger will increase earning assets, which will support earnings in 2020. Overall, I'm expecting earnings per share to decline by 8% year-over-year in 2020 to around $2.19. The December 2020 target price suggests good potential for capital appreciation. However, uncertainties related to the COVID-19