3rd Quarter 2025 Highlights:
- Net income was $67.9 million for the current quarter, an increase of $15.1 million, or 29 percent, from the prior quarter net income of $52.8 million and an increase of $16.8 million, or 33 percent, from the prior year third quarter net income of $51.1 million.
- Diluted earnings per share for the current quarter was $0.57 per share, an increase of $0.12 per share, or 27 percent, from each of the prior quarter and the prior year third quarter diluted earnings per share of $0.45 per share.
- Net interest income of $225 million for the current quarter increased $17.8 million, or 9 percent, from the prior quarter net interest income of $208 million and increased $45.1 million, or 25 percent, from the prior year third quarter net interest income of $180 million.
- The loan portfolio of $18.791 billion at September 30, 2025 increased $258 million, or 6 percent annualized, from the prior quarter.
- Total deposits of $21.871 billion at September 30, 2025 increased $242 million, or 4 percent annualized, from the prior quarter.
- Non-interest bearing deposits of $6.674 billion increased $80.7 million, or 5 percent annualized, from the prior quarter.
- The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.39 percent, an increase of 18 basis points from the prior quarter net interest margin of 3.21 percent and an increase of 56 basis points from the prior year third quarter net interest margin of 2.83 percent.
- The loan yield of 5.97 percent in the current quarter increased 11 basis points from the prior quarter loan yield of 5.86 percent and increased 28 basis points from the prior year third quarter loan yield of 5.69 percent.
- The total earning asset yield of 4.86 percent in the current quarter increased 13 basis points from the prior quarter earning asset yield of 4.73 percent and increased 34 basis points from the prior year third quarter earning asset yield of 4.52 percent.
- The total cost of funding (including non-interest bearing deposits) of 1.58 percent in the current quarter decreased 5 basis point from the prior quarter total cost of funding of 1.63 percent and decreased 21 basis points form the prior year third quarter total cost of funding of 1.79 percent.
- The Company declared a quarterly dividend of $0.33 per share. The Company has declared 162 consecutive quarterly dividends and has increased the dividend 49 times.
- The Company completed the core system conversion of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”) which had total assets of $1.365 billion as of the acquisition date of April 30, 2025.
Year-to-Date 2025 Highlights
- Net income for the first nine months of 2025 was $175 million, an increase of $46.9 million, or 36 percent, from the prior year first nine months net income of $128 million.
- Diluted earnings per share for the first nine months of 2025 was $1.51 per share, an increase of 34 percent from the prior year first nine months diluted earnings per share of $1.13 per share.
- Net interest income of $623 million for the first nine months of 2025 increased $110 million, or 21 percent, from the prior year net interest income of $513 million.
- The loan portfolio increased $1.529 billion, or 9 percent, during the first nine months of 2025 and organically increased $454 million, or 3 percent, during the first nine months of 2025.
- Total deposits increased $1.324 billion, or 6 percent, during the first nine months of 2025 and organically increased $246 million, or 1 percent, during the first nine months of 2025.
- The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first nine months of 2025 was 3.21 percent, an increase of 51 basis points from the prior year first nine months net interest margin of 2.70 percent.
- Dividends declared in the first nine months of 2025 were $0.99 per share.
- On June, 24, 2025 the Company announced the signing of a definitive agreement to acquire Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”). The acquisition was completed on October 1, 2025 and expanded the Company’s southwest presence and its the first entrance into the state of Texas. Guaranty had total assets of $3.111 billion as of September 30, 2025.
Financial Summary
| At or for the Three Months ended | At or for the Nine Months ended | |||||||||||||||||
| (Dollars in thousands, except per share and market data) | Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
Sep 30, 2025 |
Sep 30, 2024 |
||||||||||||
| Operating results | ||||||||||||||||||
| Net income | $ | 67,900 | 52,781 | 54,568 | 51,055 | 175,249 | 128,390 | |||||||||||
| Basic earnings per share | $ | 0.57 | 0.45 | 0.48 | 0.45 | 1.51 | 1.14 | |||||||||||
| Diluted earnings per share | $ | 0.57 | 0.45 | 0.48 | 0.45 | 1.51 | 1.13 | |||||||||||
| Dividends declared per share | $ | 0.33 | 0.33 | 0.33 | 0.33 | 0.99 | 0.99 | |||||||||||
| Market value per share | ||||||||||||||||||
| Closing | $ | 48.67 | 43.08 | 44.22 | 45.70 | 48.67 | 45.70 | |||||||||||
| High | $ | 50.54 | 44.70 | 52.81 | 47.71 | 52.81 | 47.71 | |||||||||||
| Low | $ | 42.08 | 36.76 | 43.18 | 35.57 | 36.76 | 34.35 | |||||||||||
| Selected ratios and other data | ||||||||||||||||||
| Number of common stock shares outstanding | 118,552,847 | 118,550,475 | 113,517,944 | 113,394,786 | 118,552,847 | 113,394,786 | ||||||||||||
| Average outstanding shares – basic | 118,552,231 | 116,890,776 | 113,451,199 | 113,394,758 | 116,316,754 | 113,093,583 | ||||||||||||
| Average outstanding shares – diluted | 118,628,434 | 116,918,290 | 113,546,365 | 113,473,107 | 116,382,822 | 113,137,861 | ||||||||||||
| Return on average assets (annualized) | 0.93% | 0.74% | 0.80% | 0.73% | 0.82% | 0.62% | ||||||||||||
| Return on average equity (annualized) | 7.52% | 6.13% | 6.77% | 6.34% | 6.82% | 5.47% | ||||||||||||
| Efficiency ratio | 62.05% | 62.08% | 65.49% | 64.92% | 63.12% | 68.98% | ||||||||||||
| Loan to deposit ratio | 86.11% | 85.91% | 83.64% | 83.16% | 86.11% | 83.16% | ||||||||||||
| Number of full time equivalent employees | 3,649 | 3,665 | 3,457 | 3,434 | 3,649 | 3,434 | ||||||||||||
| Number of locations | 248 | 247 | 227 | 232 | 248 | 232 | ||||||||||||
| Number of ATMs | 298 | 300 | 286 | 279 | 298 | 279 | ||||||||||||
KALISPELL, Mont., Oct. 16, 2025 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $67.9 million for the current quarter, an increase of $15.1 million, or 29 percent from the prior quarter net income of $52.8 million and an increase of $16.8 million, or 33 percent, from the $51.1 million of net income for the prior year third quarter. Diluted earnings per share for the current quarter was $0.57 per share, an increase of 27 percent from the prior quarter and prior year third quarter diluted earnings per share of $0.45 per share. The current quarter included $7.0 million in acquisition-related expenses. “We are pleased with the continuation of very favorable trends across the Company and the strong results we reported this quarter,” said Randy Chesler, President and Chief Executive Officer. “We closed our acquisition of Guaranty Bank in Texas on October 1 and look forward to expanding into Texas with the impressive Guaranty team leading the way.”
Net income for the first nine months of 2025 was $175 million, an increase of $46.9 million, or 36 percent, from the prior year first nine months net income of $128 million. Diluted earnings per share for the first nine months of 2025 was $1.51 per share, an increase of 34 percent from the prior year first nine months diluted earnings per share of $1.13 per share.
On April 30, 2025, the Company completed the acquisition of BOID, which had 15 branches across eastern Idaho, Boise and eastern Washington. Upon the core system conversion in the third quarter of 2025, the BOID operations joined three existing Glacier Bank divisions. The Eastern Idaho operations of Bank of Idaho joined Citizens Community Bank, the Boise operations joined Mountain West Bank and the Eastern Washington operations joined Wheatland Bank. The Company’s results of operations and financial condition include the BOID acquisition beginning on the acquisition date.
The following table discloses the preliminary fair value estimates of select classifications of assets and liabilities acquired:
| BOID | ||
| (Dollars in thousands) | April 30, 2025 |
|
| Total assets | $ | 1,364,640 |
| Cash and cash equivalents | 26,127 | |
| Debt securities | 139,974 | |
| Loans receivable | 1,075,232 | |
| Non-interest bearing deposits | 271,385 | |
| Interest bearing deposits | 806,992 | |
| Borrowings and subordinated debt | 71,932 | |
| Core deposit intangible | 19,758 | |
| Goodwill | 70,083 | |
Asset Summary
| $ Change from | |||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
||||||||||||||
| Cash and cash equivalents | $ | 854,244 | 915,507 | 848,408 | 987,833 | (61,263 | ) | 5,836 | (133,589 | ) | |||||||||||
| Debt securities, available-for-sale | 3,916,189 | 4,024,980 | 4,245,205 | 4,436,578 | (108,791 | ) | (329,016 | ) | (520,389 | ) | |||||||||||
| Debt securities, held-to-maturity | 3,155,901 | 3,206,133 | 3,294,847 | 3,348,698 | (50,232 | ) | (138,946 | ) | (192,797 | ) | |||||||||||
| Total debt securities | 7,072,090 | 7,231,113 | 7,540,052 | 7,785,276 | (159,023 | ) | (467,962 | ) | (713,186 | ) | |||||||||||
| Loans receivable | |||||||||||||||||||||
| Residential real estate | 1,926,448 | 1,931,554 | 1,858,929 | 1,837,697 | (5,106 | ) | 67,519 | 88,751 | |||||||||||||
| Commercial real estate | 12,045,446 | 11,935,109 | 10,963,713 | 10,833,841 | 110,337 | 1,081,733 | 1,211,605 | ||||||||||||||
| Other commercial | 3,451,177 | 3,303,889 | 3,119,535 | 3,177,051 | 147,288 | 331,642 | 274,126 | ||||||||||||||
| Home equity | 980,472 | 975,429 | 930,994 | 931,440 | 5,043 | 49,478 | 49,032 | ||||||||||||||
| Other consumer | 387,443 | 386,759 | 388,678 | 401,158 | 684 | (1,235 | ) | (13,715 | ) | ||||||||||||
| Loans receivable | 18,790,986 | 18,532,740 | 17,261,849 | 17,181,187 | 258,246 | 1,529,137 | 1,609,799 | ||||||||||||||
| Allowance for credit losses | (229,077 | ) | (226,799 | ) | (206,041 | ) | (205,170 | ) | (2,278 | ) | (23,036 | ) | (23,907 | ) | |||||||
| Loans receivable, net | 18,561,909 | 18,305,941 | 17,055,808 | 16,976,017 | 255,968 | 1,506,101 | 1,585,892 | ||||||||||||||
| Other assets | 2,527,384 | 2,552,422 | 2,458,719 | 2,456,643 | (25,038 | ) | 68,665 | 70,741 | |||||||||||||
| Total assets | $ | 29,015,627 | 29,004,983 | 27,902,987 | 28,205,769 | 10,644 | 1,112,640 | 809,858 | |||||||||||||
The Company continues to maintain a strong cash position of $854 million at September 30, 2025 which was a decrease of $61 million over the prior quarter and a decrease of $134 million over the prior year third quarter. Total debt securities of $7.072 billion at September 30, 2025 decreased $159 million, or 2 percent, during the current quarter and decreased $713 million, or 9 percent, from the prior year third quarter. Debt securities represented 24 percent of total assets at September 30, 2025 compared to 25 percent at June 30, 2025 and 28 percent at September 30, 2024.
The loan portfolio of $18.791 billion at September 30, 2025 increased $258 million, or 6 percent annualized, during the current quarter. The loan category with the largest dollar increase during the current quarter was other commercial loans which increased $147 million, or 4 percent over the prior quarter. Excluding the BOID acquisition, the loan portfolio organically increased $535 million, or 3 percent, since the prior year third quarter. Excluding the acquisition, the loan category with the largest dollar increase in the last twelve months was commercial real estate which increased $481 million, or 4 percent.
Credit Quality Summary
| At or for the Nine Months ended |
At or for the Six Months ended |
At or for the Year ended |
At or for the Nine Months ended |
|||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
||||||||
| Allowance for credit losses | ||||||||||||
| Balance at beginning of period | $ | 206,041 | 206,041 | 192,757 | 192,757 | |||||||
| Acquisitions | 35 | 35 | 3 | 3 | ||||||||
| Provision for credit losses | 29,355 | 24,163 | 27,179 | 21,138 | ||||||||
| Charge-offs | (11,276) | (7,236) | (18,626) | (12,406) | ||||||||
| Recoveries | 4,922 | 3,796 | 4,728 | 3,678 | ||||||||
| Balance at end of period | $ | 229,077 | 226,799 | 206,041 | 205,170 | |||||||
| Provision for credit losses | ||||||||||||
| Loan portfolio | $ | 29,355 | 24,163 | 27,179 | 21,138 | |||||||
| Unfunded loan commitments | 6,382 | 3,918 | 1,127 | (1,366) | ||||||||
| Total provision for credit losses | $ | 35,737 | 28,081 | 28,306 | 19,772 | |||||||
| Other real estate owned | $ | 1,376 | 1,737 | 1,085 | 432 | |||||||
| Other foreclosed assets | 37 | 142 | 79 | 201 | ||||||||
| Accruing loans 90 days or more past due | 7,449 | 11,371 | 6,177 | 11,551 | ||||||||
| Non-accrual loans | 45,450 | 35,356 | 20,445 | 15,937 | ||||||||
| Total non-performing assets | $ | 54,312 | 48,606 | 27,786 | 28,121 | |||||||
| Non-performing assets as a percentage of subsidiary assets | 0.19 | % | 0.17 | % | 0.10 | % | 0.10 | % | ||||
| Allowance for credit losses as a percentage of non-performing loans | 433 | % | 485 | % | 774 | % | 730 | % | ||||
| Allowance for credit losses as a percentage of total loans | 1.22 | % | 1.22 | % | 1.19 | % | 1.19 | % | ||||
| Net charge-offs as a percentage of total loans | 0.03 | % | 0.02 | % | 0.08 | % | 0.05 | % | ||||
| Accruing loans 30-89 days past due | $ | 39,524 | 54,403 | 32,228 | 56,213 | |||||||
| U.S. government guarantees included in non-performing assets | $ | 12,262 | 2,651 | 748 | 1,802 | |||||||
Non-performing assets as a percentage of subsidiary assets at September 30, 2025 was 0.19 percent compared to 0.17 percent in the prior quarter and 0.10 percent in the prior year third quarter. Non-performing assets of $54.3 million at September 30, 2025 increased $5.7 million, or 12 percent, over the prior quarter and increased $26.2 million, or 93 percent, over the prior year third quarter.
Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at September 30, 2025 were 0.21 percent compared to 0.29 percent for the prior quarter end and 0.33 percent for the prior year third quarter. Early stage delinquencies of $39.5 million at September 30, 2025 decreased $14.9 million from the prior quarter and decreased $16.7 million from the prior year third quarter.
The current quarter provision for credit loss expense of $7.7 million included $5.2 million of credit loss expense on loans and $2.5 million of credit loss expense on unfunded loan commitments from the acquisition. The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.22 percent at September 30, 2025 and June 30, 2025 compared to 1.19 percent at September 30, 2024. Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts, actual results, and other environmental factors will continue to determine the level of the ACL on loans.
Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio
| (Dollars in thousands) | Provision for Credit Losses Loans |
Net Charge-Offs | ACL as a Percent of Loans |
Accruing Loans 30-89 Days Past Due as a Percent of Loans |
Non-Performing Assets to Total Subsidiary Assets |
|||||||||
| Third quarter 2025 | $ | 5,192 | $ | 2,914 | 1.22 | % | 0.21 | % | 0.19 | % | ||||
| Second quarter 2025 | 18,009 | 1,645 | 1.22 | % | 0.29 | % | 0.17 | % | ||||||
| First quarter 2025 | 6,154 | 1,795 | 1.22 | % | 0.27 | % | 0.14 | % | ||||||
| Fourth quarter 2024 | 6,041 | 5,170 | 1.19 | % | 0.19 | % | 0.10 | % | ||||||
| Third quarter 2024 | 6,981 | 2,766 | 1.19 | % | 0.33 | % | 0.10 | % | ||||||
| Second quarter 2024 | 5,066 | 2,890 | 1.19 | % | 0.29 | % | 0.06 | % | ||||||
| First quarter 2024 | 9,091 | 3,072 | 1.19 | % | 0.37 | % | 0.09 | % | ||||||
| Fourth quarter 2023 | 4,181 | 3,695 | 1.19 | % | 0.31 | % | 0.09 | % | ||||||
Net charge-offs for the current quarter were $2.9 million compared to $1.6 million in the prior quarter and $2.8 million for the prior year third quarter. The current quarter net charge-offs included $1.8 million in deposit overdraft net charge-offs and $1.1 million of net loan charge-offs.
Supplemental information regarding credit quality and identification of the Company’s loan portfolio based on the regulatory classification of loans is provided in the exhibits at the end of this press release. The regulatory classification of loans is based primarily on collateral type while the Company’s loan segments presented herein are based on the purpose of the loan.
Liability Summary
| $ Change from | |||||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
||||||||||
| Deposits | |||||||||||||||||
| Non-interest bearing deposits | $ | 6,674,441 | 6,593,728 | 6,136,709 | 6,407,728 | 80,713 | 537,732 | 266,713 | |||||||||
| NOW and DDA accounts | 5,805,816 | 5,747,388 | 5,543,512 | 5,363,476 | 58,428 | 262,304 | 442,340 | ||||||||||
| Savings accounts | 3,049,753 | 2,956,387 | 2,845,124 | 2,801,077 | 93,366 | 204,629 | 248,676 | ||||||||||
| Money market deposit accounts | 3,137,810 | 3,089,115 | 2,878,213 | 2,854,540 | 48,695 | 259,597 | 283,270 | ||||||||||
| Certificate accounts | 3,199,825 | 3,238,576 | 3,139,821 | 3,284,609 | (38,751 | ) | 60,004 | (84,784 | ) | ||||||||
| Core deposits, total | 21,867,645 | 21,625,194 | 20,543,379 | 20,711,430 | 242,451 | 1,324,266 | 1,156,215 | ||||||||||
| Wholesale deposits | 3,304 | 3,308 | 3,615 | 3,334 | (4 | ) | (311 | ) | (30 | ) | |||||||
| Deposits, total | 21,870,949 | 21,628,502 | 20,546,994 | 20,714,764 | 242,447 | 1,323,955 | 1,156,185 | ||||||||||
| Repurchase agreements | 2,004,286 | 1,976,228 | 1,777,475 | 1,831,501 | 28,058 | 226,811 | 172,785 | ||||||||||
| Deposits and repurchase agreements, total | 23,875,235 | 23,604,730 | 22,324,469 | 22,546,265 | 270,505 | 1,550,766 | 1,328,970 | ||||||||||
| Federal Home Loan Bank advances | 895,022 | 1,255,088 | 1,800,000 | 1,800,000 | (360,066 | ) | (904,978 | ) | (904,978 | ) | |||||||
| Other borrowed funds | 78,180 | 81,771 | 83,341 | 84,168 | (3,591 | ) | (5,161 | ) | (5,988 | ) | |||||||
| Subordinated debentures | 157,379 | 157,127 | 133,105 | 133,065 | 252 | 24,274 | 24,314 | ||||||||||
| Other liabilities | 401,523 | 374,003 | 338,218 | 397,221 | 27,520 | 63,305 | 4,302 | ||||||||||
| Total liabilities | $ | 25,407,339 | 25,472,719 | 24,679,133 | 24,960,719 | (65,380 | ) | 728,206 | 446,620 | ||||||||
Total deposits of $21.871 billion at September 30, 2025 increased $242 million, or 4 percent annualized, during the current quarter and non-interest bearing deposits of $6.674 billion increased $80.7 million, or 5 percent annualized, from the prior quarter. Total deposits at September 30, 2025 increased $1.324 billion, or 6 percent, from the prior year end and organically increased $246 million, or 1 percent, from the prior year end. Non-interest bearing deposits at September 30, 2025 increased $538 million, or 9 percent, from the prior year end and organically increased $266 million, or 4 percent, from the prior year end. Non-interest bearing deposits represented 31 percent of total deposits at September 30, 2025 compared to 30 percent at December 31, 2024 and 31 percent at September 30, 2024.
Federal Home Loan Bank (“FHLB”) advances of $895 million decreased $360 million, or 29 percent, from the prior quarter and decreased $905 million, or 50 percent, from the prior year third quarter. Subordinated debentures of $157 million increased $24.0 million, or 18 percent, from the prior year end as a result of the acquisition of BOID.
Stockholders’ Equity Summary
| $ Change from | ||||||||||||||||||||
| (Dollars in thousands, except per share data) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
|||||||||||||
| Common equity | $ | 3,801,178 | 3,770,919 | 3,533,150 | 3,507,356 | 30,259 | 268,028 | 293,822 | ||||||||||||
| Accumulated other comprehensive loss | (192,890 | ) | (238,655 | ) | (309,296 | ) | (262,306 | ) | 45,765 | 116,406 | 69,416 | |||||||||
| Total stockholders’ equity | 3,608,288 | 3,532,264 | 3,223,854 | 3,245,050 | 76,024 | 384,434 | 363,238 | |||||||||||||
| Goodwill and intangibles, net | (1,182,536 | ) | (1,186,350 | ) | (1,102,500 | ) | (1,106,336 | ) | 3,814 | (80,036 | ) | (76,200 | ) | |||||||
| Tangible stockholders’ equity | $ | 2,425,752 | 2,345,914 | 2,121,354 | 2,138,714 | 79,838 | 304,398 | 287,038 | ||||||||||||
| Stockholders’ equity to total assets | 12.44 | % | 12.18 | % | 11.55 | % | 11.50 | % | ||||||||||||
| Tangible stockholders’ equity to total tangible assets | 8.72 | % | 8.43 | % | 7.92 | % | 7.89 | % | ||||||||||||
| Book value per common share | $ | 30.44 | 29.80 | 28.43 | 28.62 | 0.64 | 2.01 | 1.82 | ||||||||||||
| Tangible book value per common share | $ | 20.46 | 19.79 | 18.71 | 18.86 | 0.67 | 1.75 | 1.60 |
Tangible stockholders’ equity of $2.426 billion at September 30, 2025 increased $79.8 million, or 3 percent, compared to the prior quarter and was primarily due to a decrease in other comprehensive loss and earnings retention. Tangible stockholders’ equity at September 30, 2025 increased $304 million, or 14 percent, compared to the prior year end and was primarily due to $205 million of Company stock issued in connection with the acquisition of BOID and a $116 million decrease in other comprehensive loss. The increase was partially offset by the increase in goodwill and core deposit intangible associated with the BOID acquisition. Tangible book value per common share of $20.46 at the current quarter end increased $0.67 per share, or 3 percent, from the prior quarter and increased $1.60 per share, or 8 percent, from the prior year third quarter.
Cash Dividends
On September 22, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable October 16, 2025 to shareholders of record on October 7, 2025. The dividend was the Company’s 162nd consecutive regular dividend. Future cash dividends will depend on a variety of factors, including net income, capital, asset quality, general economic conditions and regulatory considerations.
Operating Results for Three Months Ended September 30, 2025
Compared to June 30, 2025, March 31, 2025, and September 30, 2024
Income Summary
| Three Months ended | $ Change from | ||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
||||||||||||||
| Net interest income | |||||||||||||||||||||
| Interest income | $ | 325,003 | 308,115 | 289,925 | 289,578 | 16,888 | 35,078 | 35,425 | |||||||||||||
| Interest expense | 99,624 | 100,499 | 99,946 | 109,347 | (875 | ) | (322 | ) | (9,723 | ) | |||||||||||
| Total net interest income | 225,379 | 207,616 | 189,979 | 180,231 | 17,763 | 35,400 | 45,148 | ||||||||||||||
| Non-interest income | |||||||||||||||||||||
| Service charges and other fees | 21,460 | 20,405 | 18,818 | 20,587 | 1,055 | 2,642 | 873 | ||||||||||||||
| Miscellaneous loan fees and charges | 5,123 | 5,067 | 4,664 | 4,970 | 56 | 459 | 153 | ||||||||||||||
| Gain on sale of loans | 5,027 | 4,273 | 4,311 | 4,898 | 754 | 716 | 129 | ||||||||||||||
| Gain on sale of securities | — | — | — | 26 | — | — | (26 | ) | |||||||||||||
| Other income | 3,742 | 3,199 | 4,849 | 4,223 | 543 | (1,107 | ) | (481 | ) | ||||||||||||
| Total non-interest income | 35,352 | 32,944 | 32,642 | 34,704 | 2,408 | 2,710 | 648 | ||||||||||||||
| Total income | $ | 260,731 | 240,560 | 222,621 | 214,935 | 20,171 | 38,110 | 45,796 | |||||||||||||
| Net interest margin (tax-equivalent) | 3.39 | % | 3.21 | % | 3.04 | % | 2.83 | % | |||||||||||||
Net Interest Income
Net interest income of $225 million for the current quarter increased $17.8 million, or 9 percent, from the prior quarter net interest income of $208 million and increased $45.1 million, or 25 percent, from the prior year third quarter net interest income of $180 million. The current quarter interest income of $325 million increased $16.9 million, or 5 percent, over the prior quarter and increased $35.4 million, or 12 percent, over the prior year third quarter, both increases primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 5.97 percent in the current quarter increased 11 basis points from the prior quarter loan yield of 5.86 percent and increased 28 basis points from the prior year third quarter loan yield of 5.69 percent.
The current quarter interest expense of $100 million decreased $875 thousand or 87 basis points, from the prior quarter and was primarily attributable to a decrease in average borrowings. The current quarter interest expense decreased $9.7 million, or 9 percent, from the prior year third quarter and was primarily the result of lower average wholesale borrowings and a decrease in deposit costs. Deposit cost (including non-interest bearing deposits) decreased to 1.23 percent in the current quarter compared to 1.25 percent in the prior quarter and 1.37 percent in the prior year third quarter. The total cost of funding (including non-interest bearing deposits) of 1.58 percent in the current quarter decreased 5 basis points from the prior quarter and decreased 21 basis points from the prior year third quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.39 percent, an increase of 18 basis points from the prior quarter net interest margin of 3.21 percent and was primarily driven by an increase in loan yields and a decrease in total cost of funding. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was an increase of 56 basis points from the prior year third quarter net interest margin of 2.83 percent and was also primarily driven by the increase in loan yields and the decrease in total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 4 basis points from discount accretion, the core net interest margin was 3.35 percent in the current quarter compared to 3.18 percent in the prior quarter and 2.79 percent in the prior year third quarter. “The continued remix of lower yield securities cash flow into higher yield loans combined with the continued reduction in the cost of deposits and wholesale funding were a primary driver of the 18 basis points increase in the net interest margin for the current quarter,” said Ron Copher, Chief Financial Officer.
Non-interest Income
Non-interest income for the current quarter totaled $35.4 million, which was an increase of $2.4 million, or 7 percent, over the prior quarter and an increase of $648 thousand, or 2 percent, over the prior year third quarter. Service charges and other fees of $21.5 million for the current quarter increased $1.1 million, or 5 percent, compared to the prior quarter and increased $873 thousand, or 4 percent, compared to the prior year third quarter. Gain on the sale of residential loans of $5.0 million for the current quarter increased $754 thousand, or 18 percent, compared to the prior quarter and increased $129 thousand, or 3 percent, from the prior year third quarter.
Non-interest Expense Summary
| Three Months ended | $ Change from | ||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
||||||||
| Compensation and employee benefits | $ | 96,498 | 94,355 | 91,443 | 85,083 | 2,143 | 5,055 | 11,415 | |||||||
| Occupancy and equipment | 13,236 | 12,558 | 12,294 | 11,989 | 678 | 942 | 1,247 | ||||||||
| Advertising and promotions | 4,620 | 4,394 | 4,144 | 4,062 | 226 | 476 | 558 | ||||||||
| Data processing | 10,634 | 9,883 | 9,138 | 9,196 | 751 | 1,496 | 1,438 | ||||||||
| Other real estate owned and foreclosed assets | 63 | 26 | 63 | 13 | 37 | — | 50 | ||||||||
| Regulatory assessments and insurance | 5,799 | 5,847 | 5,534 | 5,150 | (48 | ) | 265 | 649 | |||||||
| Intangibles amortization | 3,813 | 3,624 | 3,270 | 3,367 | 189 | 543 | 446 | ||||||||
| Other expenses | 33,120 | 24,432 | 25,432 | 25,848 | 8,688 | 7,688 | 7,272 | ||||||||
| Total non-interest expense | $ | 167,783 | 155,119 | 151,318 | 144,708 | 12,664 | 16,465 | 23,075 | |||||||
Total non-interest expense of $168 million for the current quarter increased $12.7 million, or 8 percent, over the prior quarter and increased $23.1 million, or 16 percent, over the prior year third quarter and was primarily from increased costs from the acquisitions. Compensation and employee benefits of $96.5 million increased by $2.1 million, or 2 percent, over the prior quarter. Compensation and employee benefits increased $11.4 million, or 13 percent, from the prior year third quarter and was primarily driven by annual salary increases and increases in staffing levels from the current year acquisition.
Other expenses of $33.1 million increased $8.7 million, or 36 percent, from the prior quarter and increased $7.3 million, or 28 percent, from the prior year third quarter, both increases primarily attributable to current quarter acquisition related-expenses and prior quarter and prior year third quarter gains on sale of former branch facilities. Acquisition-related expense was $7.0 million in the current quarter compared to $3.2 million in the prior quarter and $1.9 million in the prior year third quarter. The other expenses included $1.6 million of gain from the sale of a former branch facility in the prior quarter and $619 thousand in the prior year third quarter.
Federal and State Income Tax Expense
Tax expense during the third quarter of 2025 was $17.4 million, an increase of $5.0 million, or 40 percent, compared to the prior quarter and an increase of $6.2 million, or 56 percent, from the prior year third quarter. The effective tax rate in the current quarter was 20.4 percent compared to 19.0 percent in the prior quarter and 17.9 percent in the prior year third quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior quarter was primarily the result of an increase in income before income tax expense in the current quarter.
Efficiency Ratio
The efficiency ratio was 62.05 percent in the current quarter compared to 62.08 percent in the prior quarter and 64.92 percent in the prior year third quarter. The decrease from the prior quarter and the prior year third quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense.
Operating Results for
Nine Months
Ended
September 30, 2025
Compared to
September 30, 2024
Income Summary
| Nine Months ended | ||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Sep 30, 2024 |
$ Change | % Change | ||||||||||
| Net interest income | ||||||||||||||
| Interest income | $ | 923,043 | $ | 842,814 | $ | 80,229 | 10 | % | ||||||
| Interest expense | 300,069 | 329,625 | (29,556 | ) | (9)% | |||||||||
| Total net interest income | 622,974 | 513,189 | 109,785 | 21 | % | |||||||||
| Non-interest income | ||||||||||||||
| Service charges and other fees | 60,683 | 58,572 | 2,111 | 4 | % | |||||||||
| Miscellaneous loan fees and charges | 14,854 | 14,153 | 701 | 5 | % | |||||||||
| Gain on sale of loans | 13,611 | 12,929 | 682 | 5 | % | |||||||||
| Gain on sale of securities | — | 30 | (30 | ) | (100)% | |||||||||
| Other income | 11,790 | 11,213 | 577 | 5 | % | |||||||||
| Total non-interest income | 100,938 | 96,897 | 4,041 | 4 | % | |||||||||
| Total Income | $ | 723,912 | $ | 610,086 | $ | 113,826 | 19 | % | ||||||
| Net interest margin (tax-equivalent) | 3.21 | % | 2.70 | % | ||||||||||
Net Interest Income
Net interest income of $623 million for the first nine months of 2025 increased $110 million, or 21 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $923 million for the first nine months of 2025 increased $80.2 million, or 10 percent, from the prior year and was primarily attributable to the increase in the loan portfolio and an increase in loan yields. The loan yield was 5.87 percent during the first nine months of 2025, an increase of 29 basis points from the prior year first nine months loan yield of 5.58 percent.
Interest expense of $300 million for the first nine months of 2025 decreased $30 million, or 9 percent, from the same period in the prior year and was primarily the result of lower interest rates on deposits and a decreases in higher cost borrowings. Deposit cost (including non-interest bearing deposits) was 1.24 percent for the first nine months of 2025, which was a decrease of 12 basis points from the first nine months of the prior year deposit costs of 1.36 percent. The total funding cost (including non-interest bearing deposits) for the first nine months of 2025 was 1.63 percent, which was a decrease of 18 basis points over the first nine months of the prior year funding cost of 1.81 percent.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first nine months of 2025 was 3.21 percent, a 51 basis points increase from the net interest margin of 2.70 percent for the first nine months of the prior year. Excluding the 4 basis points from discount accretion, the core net interest margin was 3.17 percent in the first nine months of the current year compared to 2.65 percent in the prior year first nine months. The increase in net interest margin from the prior year was primarily driven by increased loan yields and decreased funding costs combined with a shift in earning asset mix to higher yielding loans and a shift in funding liabilities to lower cost deposits.
Non-interest Income
Non-interest income of $101 million for the first nine months of 2025 increased $4.0 million, or 4 percent, over the same period last year. Service charges and other fees of $60.7 million for the first nine months of 2025 increased $2.1 million, or 4 percent, over the first nine months of the prior year. Gain on sale of residential loans of $13.6 million for the first nine months of 2025 increased by $682 thousand, or 5 percent, over the first nine months of the prior year. Other income of $11.8 million for the first nine months of 2025 increased $577 thousand over the prior year first nine months.
Non-interest Expense Summary
| Nine Months ended | ||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Sep 30, 2024 |
$ Change | % Change | ||||||||
| Compensation and employee benefits | $ | 282,296 | $ | 255,306 | $ | 26,990 | 11 | % | ||||
| Occupancy and equipment | 38,088 | 35,466 | 2,622 | 7 | % | |||||||
| Advertising and promotions | 13,158 | 12,407 | 751 | 6 | % | |||||||
| Data processing | 29,655 | 27,742 | 1,913 | 7 | % | |||||||
| Other real estate owned and foreclosed assets | 152 | 187 | (35 | ) | (19)% | |||||||
| Regulatory assessments and insurance | 17,180 | 18,304 | (1,124 | ) | (6)% | |||||||
| Core deposit intangibles amortization | 10,707 | 9,144 | 1,563 | 17 | % | |||||||
| Other expenses | 82,984 | 78,947 | 4,037 | 5 | % | |||||||
| Total non-interest expense | $ | 474,220 | $ | 437,503 | $ | 36,717 | 8 | % | ||||
Total non-interest expense of $474 million for the first nine months of 2025 increased $36.7 million, or 8 percent, over the same period in the prior year. Compensation and employee benefits expense of $282 million in the first nine months of 2025 increased $27.0 million, or 11 percent, over the same period in the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $17.2 million for the first nine months of 2025 decreased $1.1 million, or 6 percent, from the prior year first nine months primarily as a result of adjustments to the FDIC special assessment. Other expenses of $83.0 million for the first nine months of 2025 increased $4.0 million, or 5 percent, from the first nine months of the prior year. Included in other expenses was $9.3 million of acquisition-related expenses in the first nine months of the current year compared to $7.8 million in the same period in the prior year.
Provision for Credit Losses
The provision for credit loss expense was $35.7 million for the first nine months of 2025, an increase of $16.0 million, or 81 percent, over the same period in the prior year. Included in the current year provision for credit losses was $16.7 million from the acquisition of BOID and included in the prior year was $9.7 million from acquisitions in the prior year. Net charge-offs for the first nine months of 2025 were $6.4 million compared to $8.7 million in the first nine months of 2024.
Federal and State Income Tax Expense
Tax expense of $38.7 million for the first nine months of 2025 increased $14.3 million, or 58 percent, over the same period in the prior year. The effective tax rate for the first nine months of 2025 was 18.1 percent compared to 16.0 percent for the same period in the prior year. The increase in tax expense and the increase in the effective tax rate was the primarily the result of an increase in the pre-tax income.
Efficiency Ratio
The efficiency ratio was 63.12 percent for the first nine months of 2025 compared to 68.98 percent for the same period of 2024. The decrease from the prior year was primarily attributable to the increase in net interest income that outpaced the increase in non-interest expense.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “will,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:
- risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
- changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
- legislative or regulatory changes, including increased FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increased banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
- risks related to overall economic conditions, including the impact on the current government shutdown, economy of an uncertain interest rate environment, inflationary pressures, recently passed legislation and the potential for significant additional changes in economic and trade policies in the current administration;
- risks to the Company’s business and the business of the Company’s customers arising from current or future tariffs or other trade restrictions, labor or supply chain issues, change in labor force, or geopolitical instability, including the wars in Ukraine and the Middle East;
- risks associated with the Company’s ability to negotiate, complete, and successfully integrate pending or future acquisitions;
- costs or difficulties related to the completion and integration of future or recently completed acquisitions;
- impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital;
- reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition;
- deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company’s ability to obtain and maintain customers;
- changes in the competitive landscape, including as may result from new market entrants or further consolidation in the financial services industry, resulting in the creation of larger competitors with greater financial resources;
- risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions;
- risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions;
- material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities;
- risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events;
- success in managing risks involved in any of the foregoing; and
- effects of any reputational damage to the Company resulting from any of the foregoing.
The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.
Conference Call Information
A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, October 17, 2025. Please note that our conference call host no longer offers a general dial-in number. Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register-conf.media-server.com/register/BIcf9199709f3c486a8bbce1cc1984ca38. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/cmgx4jbr.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. (NYSE: GBCI), a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its nine state footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Guaranty Bank (Mount Pleasant, Texas), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).
CONTACT: Randall M. Chesler, CEO
(406) 751-4722
Ron J. Copher, CFO
(406) 751-7706
|
Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition |
||||||||||||
| (Dollars in thousands, except per share data) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
||||||||
| Assets | ||||||||||||
| Cash on hand and in banks | $ | 312,506 | 375,398 | 268,746 | 342,105 | |||||||
| Interest bearing cash deposits | 541,738 | 540,109 | 579,662 | 645,728 | ||||||||
| Cash and cash equivalents | 854,244 | 915,507 | 848,408 | 987,833 | ||||||||
| Debt securities, available-for-sale | 3,916,189 | 4,024,980 | 4,245,205 | 4,436,578 | ||||||||
| Debt securities, held-to-maturity | 3,155,901 | 3,206,133 | 3,294,847 | 3,348,698 | ||||||||
| Total debt securities | 7,072,090 | 7,231,113 | 7,540,052 | 7,785,276 | ||||||||
| Loans held for sale, at fair value | 42,668 | 47,738 | 33,060 | 46,126 | ||||||||
| Loans receivable | 18,790,986 | 18,532,740 | 17,261,849 | 17,181,187 | ||||||||
| Allowance for credit losses | (229,077 | ) | (226,799 | ) | (206,041 | ) | (205,170 | ) | ||||
| Loans receivable, net | 18,561,909 | 18,305,941 | 17,055,808 | 16,976,017 | ||||||||
| Premises and equipment, net | 427,271 | 426,801 | 411,968 | 408,809 | ||||||||
| Right-of-use assets, net | 54,502 | 56,525 | 56,252 | 58,168 | ||||||||
| Other real estate owned and foreclosed assets | 1,413 | 1,879 | 1,164 | 633 | ||||||||
| Accrued interest receivable | 120,257 | 108,286 | 99,262 | 114,121 | ||||||||
| Deferred tax asset | 99,702 | 114,528 | 138,955 | 125,432 | ||||||||
| Intangibles, net | 61,135 | 64,949 | 51,182 | 52,780 | ||||||||
| Goodwill | 1,121,401 | 1,121,401 | 1,051,318 | 1,053,556 | ||||||||
| Non-marketable equity securities | 61,362 | 76,990 | 99,669 | 98,285 | ||||||||
| Bank-owned life insurance | 191,996 | 191,623 | 189,849 | 188,971 | ||||||||
| Other assets | 345,677 | 341,702 | 326,040 | 309,762 | ||||||||
| Total assets | $ | 29,015,627 | 29,004,983 | 27,902,987 | 28,205,769 | |||||||
| Liabilities | ||||||||||||
| Non-interest bearing deposits | $ | 6,674,441 | 6,593,728 | 6,136,709 | 6,407,728 | |||||||
| Interest bearing deposits | 15,196,508 | 15,034,774 | 14,410,285 | 14,307,036 | ||||||||
| Securities sold under agreements to repurchase | 2,004,286 | 1,976,228 | 1,777,475 | 1,831,501 | ||||||||
| FHLB advances | 895,022 | 1,255,088 | 1,800,000 | 1,800,000 | ||||||||
| Other borrowed funds | 59,779 | 62,366 | 62,062 | 61,911 | ||||||||
| Finance lease liabilities | 18,401 | 19,405 | 21,279 | 22,257 | ||||||||
| Subordinated debentures | 157,379 | 157,127 | 133,105 | 133,065 | ||||||||
| Accrued interest payable | 27,733 | 27,973 | 33,626 | 35,382 | ||||||||
| Operating lease liabilities | 41,367 | 42,274 | 39,902 | 40,642 | ||||||||
| Other liabilities | 332,423 | 303,756 | 264,690 | 321,197 | ||||||||
| Total liabilities | 25,407,339 | 25,472,719 | 24,679,133 | 24,960,719 | ||||||||
| Commitments and Contingent Liabilities | — | — | — | — | ||||||||
| Stockholders’ Equity | ||||||||||||
| Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding | — | — | — | — | ||||||||
| Common stock, $0.01 par value per share, 234,000,000 shares authorized | 1,186 | 1,186 | 1,134 | 1,134 | ||||||||
| Paid-in capital | 2,657,469 | 2,655,894 | 2,448,758 | 2,447,200 | ||||||||
| Retained earnings – substantially restricted | 1,142,523 | 1,113,839 | 1,083,258 | 1,059,022 | ||||||||
| Accumulated other comprehensive loss | (192,890 | ) | (238,655 | ) | (309,296 | ) | (262,306 | ) | ||||
| Total stockholders’ equity | 3,608,288 | 3,532,264 | 3,223,854 | 3,245,050 | ||||||||
| Total liabilities and stockholders’ equity | $ | 29,015,627 | 29,004,983 | 27,902,987 | 28,205,769 | |||||||
|
Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations |
||||||||||||
| Three Months ended | Nine Months ended | |||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
Sep 30, 2024 |
Sep 30, 2025 |
Sep 30, 2024 |
||||||
| Interest Income | ||||||||||||
| Investment securities | $ | 45,348 | 44,148 | 45,646 | 46,371 | 135,142 | 144,754 | |||||
| Residential real estate loans | 26,335 | 25,361 | 24,275 | 23,118 | 75,971 | 65,636 | ||||||
| Commercial loans | 228,363 | 214,816 | 197,388 | 196,901 | 640,567 | 566,699 | ||||||
| Consumer and other loans | 24,957 | 23,790 | 22,616 | 23,188 | 71,363 | 65,725 | ||||||
| Total interest income | 325,003 | 308,115 | 289,925 | 289,578 | 923,043 | 842,814 | ||||||
| Interest Expense | ||||||||||||
| Deposits | 67,346 | 65,569 | 62,865 | 70,607 | 195,780 | 205,655 | ||||||
| Securities sold under agreements to repurchase |
14,706 | 14,109 | 13,733 | 14,737 | 42,548 | 40,901 | ||||||
| Federal Home Loan Bank advances | 14,271 | 17,806 | 20,719 | 22,344 | 52,796 | 50,772 | ||||||
| FRB Bank Term Funding | — | — | — | — | — | 27,097 | ||||||
| Other borrowed funds | 385 | 400 | 402 | 252 | 1,187 | 949 | ||||||
| Subordinated debentures | 2,916 | 2,615 | 2,227 | 1,407 | 7,758 | 4,251 | ||||||
| Total interest expense | 99,624 | 100,499 | 99,946 | 109,347 | 300,069 | 329,625 | ||||||
| Net Interest Income | 225,379 | 207,616 | 189,979 | 180,231 | 622,974 | 513,189 | ||||||
| Provision for credit losses | 7,656 | 20,267 | 7,814 | 8,005 | 35,737 | 19,772 | ||||||
| Net interest income after provision for credit losses | 217,723 | 187,349 | 182,165 | 172,226 | 587,237 | 493,417 | ||||||
| Non-Interest Income | ||||||||||||
| Service charges and other fees | 21,460 | 20,405 | 18,818 | 20,587 | 60,683 | 58,572 | ||||||
| Miscellaneous loan fees and charges | 5,123 | 5,067 | 4,664 | 4,970 | 14,854 | 14,153 | ||||||
| Gain on sale of loans | 5,027 | 4,273 | 4,311 | 4,898 | 13,611 | 12,929 | ||||||
| Gain on sale of securities | — | — | — | 26 | — | 30 | ||||||
| Other income | 3,742 | 3,199 | 4,849 | 4,223 | 11,790 | 11,213 | ||||||
| Total non-interest income | 35,352 | 32,944 | 32,642 | 34,704 | 100,938 | 96,897 | ||||||
| Non-Interest Expense | ||||||||||||
| Compensation and employee benefits | 96,498 | 94,355 | 91,443 | 85,083 | 282,296 | 255,306 | ||||||
| Occupancy and equipment | 13,236 | 12,558 | 12,294 | 11,989 | 38,088 | 35,466 | ||||||
| Advertising and promotions | 4,620 | 4,394 | 4,144 | 4,062 | 13,158 | 12,407 | ||||||
| Data processing | 10,634 | 9,883 | 9,138 | 9,196 | 29,655 | 27,742 | ||||||
| Other real estate owned and foreclosed assets | 63 | 26 | 63 | 13 | 152 | 187 | ||||||
| Regulatory assessments and insurance | 5,799 | 5,847 | 5,534 | 5,150 | 17,180 | 18,304 | ||||||
| Intangibles amortization | 3,813 | 3,624 | 3,270 | 3,367 | 10,707 | 9,144 | ||||||
| Other expenses | 33,120 | 24,432 | 25,432 | 25,848 | 82,984 | 78,947 | ||||||
| Total non-interest expense | 167,783 | 155,119 | 151,318 | 144,708 | 474,220 | 437,503 | ||||||
| Income Before Income Taxes | 85,292 | 65,174 | 63,489 | 62,222 | 213,955 | 152,811 | ||||||
| Federal and state income tax expense | 17,392 | 12,393 | 8,921 | 11,167 | 38,706 | 24,421 | ||||||
| Net Income | $ | 67,900 | 52,781 | 54,568 | 51,055 | 175,249 | 128,390 | |||||
|
Glacier Bancorp, Inc. Average Balance Sheets |
|||||||||||||||||
| Three Months ended | |||||||||||||||||
| September 30, 2025 | June 30, 2025 | ||||||||||||||||
| (Dollars in thousands) | Average Balance |
Interest & Dividends |
Average Yield/ Rate |
Average Balance |
Interest & Dividends |
Average Yield/ Rate |
|||||||||||
| Assets | |||||||||||||||||
| Residential real estate loans | $ | 1,962,831 | $ | 26,335 | 5.37 | % | $ | 1,940,514 | $ | 25,361 | 5.23 | % | |||||
| Commercial loans1 | 15,351,367 | 229,915 | 5.94 | % | 14,884,885 | 216,385 | 5.83 | % | |||||||||
| Consumer and other loans | 1,363,996 | 24,957 | 7.26 | % | 1,336,030 | 23,790 | 7.14 | % | |||||||||
| Total loans2 | 18,678,194 | 281,207 | 5.97 | % | 18,161,429 | 265,536 | 5.86 | % | |||||||||
| Tax-exempt debt securities3 | 1,583,554 | 14,068 | 3.55 | % | 1,594,895 | 13,999 | 3.51 | % | |||||||||
| Taxable debt securities4, 5 | 6,554,179 | 33,185 | 2.03 | % | 6,645,312 | 32,045 | 1.93 | % | |||||||||
| Total earning assets | 26,815,927 | 328,460 | 4.86 | % | 26,401,636 | 311,580 | 4.73 | % | |||||||||
| Goodwill and intangibles | 1,184,370 | 1,153,466 | |||||||||||||||
| Non-earning assets | 987,070 | 918,007 | |||||||||||||||
| Total assets | $ | 28,987,367 | $ | 28,473,109 | |||||||||||||
| Liabilities | |||||||||||||||||
| Non-interest bearing deposits | $ | 6,550,398 | $ | — | — | % | $ | 6,256,245 | $ | — | — | % | |||||
| NOW and DDA accounts | 5,734,329 | 16,483 | 1.14 | % | 5,674,990 | 16,045 | 1.13 | % | |||||||||
| Savings accounts | 2,995,538 | 5,843 | 0.77 | % | 2,904,389 | 5,402 | 0.75 | % | |||||||||
| Money market deposit accounts | 3,136,019 | 16,783 | 2.12 | % | 3,000,487 | 15,389 | 2.06 | % | |||||||||
| Certificate accounts | 3,217,199 | 28,195 | 3.48 | % | 3,211,418 | 28,667 | 3.58 | % | |||||||||
| Total core deposits | 21,633,483 | 67,304 | 1.23 | % | 21,047,529 | 65,503 | 1.25 | % | |||||||||
| Wholesale deposits6 | 3,649 | 42 | 4.48 | % | 5,618 | 66 | 4.67 | % | |||||||||
| Repurchase agreements | 1,986,620 | 14,706 | 2.94 | % | 1,898,841 | 14,109 | 2.98 | % | |||||||||
| FHLB advances | 1,192,493 | 14,271 | 4.68 | % | 1,494,781 | 17,806 | 4.71 | % | |||||||||
| Subordinated debentures and other borrowed funds | 236,375 | 3,301 | 5.54 | % | 231,902 | 3,015 | 5.21 | % | |||||||||
| Total funding liabilities | 25,052,620 | 99,624 | 1.58 | % | 24,678,671 | 100,499 | 1.63 | % | |||||||||
| Other liabilities | 353,452 | 338,289 | |||||||||||||||
| Total liabilities | 25,406,072 | 25,016,960 | |||||||||||||||
| Stockholders’ Equity | |||||||||||||||||
| Stockholders’ equity | 3,581,295 | 3,456,149 | |||||||||||||||
| Total liabilities and stockholders’ equity | $ | 28,987,367 | $ | 28,473,109 | |||||||||||||
| Net interest income (tax-equivalent) | $ | 228,836 | $ | 211,081 | |||||||||||||
| Net interest spread (tax-equivalent) | 3.28 | % | 3.10 | % | |||||||||||||
| Net interest margin (tax-equivalent) | 3.39 | % | 3.21 | % | |||||||||||||
______________________________
1 Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2025 and June 30, 2025, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $1.8 million and $1.7 million on tax-exempt debt securities income for the three months ended September 30, 2025 and June 30, 2025, respectively.
4 Includes interest income of $6.7 million and $4.8 million on average interest-bearing cash balances of $600.3 million and $433.7 million for the three months ended September 30, 2025 and June 30, 2025, respectively.
5 Includes tax effect of $150 thousand and $151 thousand on federal income tax credits for the three months ended September 30, 2025 and June 30, 2025, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
|
Glacier Bancorp, Inc. Average Balance Sheets (continued) |
|||||||||||||||||
| Three Months ended | |||||||||||||||||
| September 30, 2025 | September 30, 2024 | ||||||||||||||||
| (Dollars in thousands) | Average Balance |
Interest & Dividends |
Average Yield/ Rate |
Average Balance |
Interest & Dividends |
Average Yield/ Rate |
|||||||||||
| Assets | |||||||||||||||||
| Residential real estate loans | $ | 1,962,831 | $ | 26,335 | 5.37 | % | $ | 1,850,066 | $ | 23,118 | 5.00 | % | |||||
| Commercial loans1 | 15,351,367 | 229,915 | 5.94 | % | 13,957,304 | 198,556 | 5.66 | % | |||||||||
| Consumer and other loans | 1,363,996 | 24,957 | 7.26 | % | 1,324,142 | 23,188 | 6.97 | % | |||||||||
| Total loans2 | 18,678,194 | 281,207 | 5.97 | % | 17,131,512 | 244,862 | 5.69 | % | |||||||||
| Tax-exempt debt securities3 | 1,583,554 | 14,068 | 3.55 | % | 1,660,643 | 14,710 | 3.54 | % | |||||||||
| Taxable debt securities4, 5 | 6,554,179 | 33,185 | 2.03 | % | 7,073,967 | 34,001 | 1.92 | % | |||||||||
| Total earning assets | 26,815,927 | 328,460 | 4.86 | % | 25,866,122 | 293,573 | 4.52 | % | |||||||||
| Goodwill and intangibles | 1,184,370 | 1,092,632 | |||||||||||||||
| Non-earning assets | 987,070 | 836,878 | |||||||||||||||
| Total assets | $ | 28,987,367 | $ | 27,795,632 | |||||||||||||
| Liabilities | |||||||||||||||||
| Non-interest bearing deposits | $ | 6,550,398 | $ | — | — | % | $ | 6,237,166 | $ | — | — | % | |||||
| NOW and DDA accounts | 5,734,329 | 16,483 | 1.14 | % | 5,314,459 | 16,221 | 1.21 | % | |||||||||
| Savings accounts | 2,995,538 | 5,843 | 0.77 | % | 2,829,203 | 5,699 | 0.80 | % | |||||||||
| Money market deposit accounts | 3,136,019 | 16,783 | 2.12 | % | 2,887,173 | 15,048 | 2.07 | % | |||||||||
| Certificate accounts | 3,217,199 | 28,195 | 3.48 | % | 3,211,842 | 33,597 | 4.16 | % | |||||||||
| Total core deposits | 21,633,483 | 67,304 | 1.23 | % | 20,479,843 | 70,565 | 1.37 | % | |||||||||
| Wholesale deposits6 | 3,649 | 42 | 4.48 | % | 3,122 | 42 | 5.47 | % | |||||||||
| Repurchase agreements | 1,986,620 | 14,706 | 2.94 | % | 1,723,553 | 14,738 | 3.40 | % | |||||||||
| FHLB advances | 1,192,493 | 14,271 | 4.68 | % | 1,828,533 | 22,344 | 4.78 | % | |||||||||
| Subordinated debentures and other borrowed funds | 236,375 | 3,301 | 5.54 | % | 219,472 | 1,658 | 3.01 | % | |||||||||
| Total funding liabilities | 25,052,620 | 99,624 | 1.58 | % | 24,254,523 | 109,347 | 1.79 | % | |||||||||
| Other liabilities | 353,452 | 336,906 | |||||||||||||||
| Total liabilities | 25,406,072 | 24,591,429 | |||||||||||||||
| Stockholders’ Equity | |||||||||||||||||
| Stockholders’ equity | 3,581,295 | 3,204,203 | |||||||||||||||
| Total liabilities and stockholders’ equity | $ | 28,987,367 | $ | 27,795,632 | |||||||||||||
| Net interest income (tax-equivalent) | $ | 228,836 | $ | 184,226 | |||||||||||||
| Net interest spread (tax-equivalent) | 3.28 | % | 2.73 | % | |||||||||||||
| Net interest margin (tax-equivalent) | 3.39 | % | 2.83 | % | |||||||||||||
______________________________
1 Includes tax effect of $1.6 million and $1.7 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2025 and 2024, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $1.8 million and $2.1 million on tax-exempt debt securities income for the three months ended September 30, 2025 and 2024, respectively.
4 Includes interest income of $6.7 million and $4.8 million on average interest-bearing cash balances of $600.3 million and $357.0 million for the three months ended September 30, 2025 and 2024, respectively.
5 Includes tax effect of $150 thousand and $203 thousand on federal income tax credits for the three months ended September 30, 2025 and 2024, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
|
Glacier Bancorp, Inc. Average Balance Sheets (continued) |
|||||||||||||||||
| Nine Months ended | |||||||||||||||||
| September 30, 2025 | September 30, 2024 | ||||||||||||||||
| (Dollars in thousands) | Average Balance |
Interest & Dividends |
Average Yield/ Rate |
Average Balance |
Interest & Dividends |
Average Yield/ Rate |
|||||||||||
| Assets | |||||||||||||||||
| Residential real estate loans | $ | 1,929,897 | $ | 75,971 | 5.25 | % | $ | 1,798,202 | $ | 65,636 | 4.87 | % | |||||
| Commercial loans1 | 14,780,437 | 645,221 | 5.84 | % | 13,737,866 | 571,540 | 5.56 | % | |||||||||
| Consumer and other loans | 1,334,462 | 71,363 | 7.15 | % | 1,299,463 | 65,725 | 6.76 | % | |||||||||
| Total loans2 | 18,044,796 | 792,555 | 5.87 | % | 16,835,531 | 702,901 | 5.58 | % | |||||||||
| Tax-exempt debt securities3 | 1,594,355 | 42,003 | 3.51 | % | 1,695,965 | 44,978 | 3.54 | % | |||||||||
| Taxable debt securities4, 5 | 6,713,914 | 98,828 | 1.96 | % | 7,429,971 | 106,939 | 1.92 | % | |||||||||
| Total earning assets | 26,353,065 | 933,386 | 4.74 | % | 25,961,467 | 854,818 | 4.40 | % | |||||||||
| Goodwill and intangibles | 1,146,519 | 1,071,024 | |||||||||||||||
| Non-earning assets | 918,154 | 734,681 | |||||||||||||||
| Total assets | $ | 28,417,738 | $ | 27,767,172 | |||||||||||||
| Liabilities | |||||||||||||||||
| Non-interest bearing deposits | $ | 6,267,432 | $ | — | — | % | $ | 6,077,392 | $ | — | — | % | |||||
| NOW and DDA accounts | 5,645,862 | 47,593 | 1.13 | % | 5,270,842 | 47,866 | 1.21 | % | |||||||||
| Savings accounts | 2,921,024 | 16,404 | 0.75 | % | 2,881,273 | 17,368 | 0.81 | % | |||||||||
| Money market deposit accounts | 2,996,375 | 45,698 | 2.04 | % | 2,913,206 | 43,907 | 2.01 | % | |||||||||
| Certificate accounts | 3,193,843 | 85,937 | 3.60 | % | 3,083,866 | 96,365 | 4.17 | % | |||||||||
| Total core deposits | 21,024,536 | 195,632 | 1.24 | % | 20,226,579 | 205,506 | 1.36 | % | |||||||||
| Wholesale deposits6 | 4,289 | 148 | 4.58 | % | 3,603 | 149 | 5.49 | % | |||||||||
| Repurchase agreements | 1,909,939 | 42,548 | 2.98 | % | 1,612,021 | 40,901 | 3.39 | % | |||||||||
| FHLB advances | 1,475,071 | 52,796 | 4.72 | % | 1,397,258 | 50,772 | 4.77 | % | |||||||||
| FRB Bank Term Funding | — | — | — | % | 824,672 | 27,097 | 4.39 | % | |||||||||
| Subordinated debentures and other borrowed funds | 228,191 | 8,945 | 5.24 | % | 220,835 | 5,200 | 3.15 | % | |||||||||
| Total funding liabilities | 24,642,026 | 300,069 | 1.63 | % | 24,284,968 | 329,625 | 1.81 | % | |||||||||
| Other liabilities | 339,599 | 345,822 | |||||||||||||||
| Total liabilities | 24,981,625 | 24,630,790 | |||||||||||||||
| Stockholders’ Equity | |||||||||||||||||
| Stockholders’ equity | 3,436,113 | 3,136,382 | |||||||||||||||
| Total liabilities and stockholders’ equity | $ | 28,417,738 | $ | 27,767,172 | |||||||||||||
| Net interest income (tax-equivalent) | $ | 633,317 | $ | 525,193 | |||||||||||||
| Net interest spread (tax-equivalent) | 3.11 | % | 2.59 | % | |||||||||||||
| Net interest margin (tax-equivalent) | 3.21 | % | 2.70 | % | |||||||||||||
______________________________
1 Includes tax effect of $4.7 million and $4.8 million on tax-exempt municipal loan and lease income for the Nine Months ended September 30, 2025 and 2024, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $5.2 million and $6.5 million on tax-exempt debt securities income for the Nine Months ended September 30, 2025 and 2024, respectively.
4 Includes interest income of $17.7 million and $17.2 million on average interest-bearing cash balances of $531.3 million and $631.7 million for the Nine Months ended September 30, 2025 and 2024, respectively.
5 Includes tax effect of $451 thousand and $629 thousand on federal income tax credits for the Nine Months ended September 30, 2025 and 2024, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
|
Glacier Bancorp, Inc. Loan Portfolio by Regulatory Classification |
||||||||||||||||||||||||
| Loans Receivable, by Loan Type | % Change from | |||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
|||||||||||||||||
| Custom and owner occupied construction | $ | 231,238 | $ | 254,790 | $ | 242,844 | $ | 235,915 | (9)% | (5)% | (2)% | |||||||||||||
| Pre-sold and spec construction | 217,413 | 208,106 | 191,926 | 203,610 | 4 | % | 13 | % | 7 | % | ||||||||||||||
| Total residential construction | 448,651 | 462,896 | 434,770 | 439,525 |
(3) % |
3 | % | 2 | % | |||||||||||||||
| Land development | 197,981 | 176,925 | 197,369 | 205,704 | 12 | % | — | % | (4)% | |||||||||||||||
| Consumer land or lots | 207,816 | 229,823 | 187,024 | 189,705 | (10)% | 11 | % | 10 | % | |||||||||||||||
| Unimproved land | 137,720 | 127,550 | 113,532 | 109,237 | 8 | % | 21 | % | 26 | % | ||||||||||||||
| Developed lots for operative builders | 56,180 | 73,053 | 61,661 | 67,140 | (23)% | (9)% | (16)% | |||||||||||||||||
| Commercial lots | 99,220 | 175,929 | 99,243 | 98,644 | (44)% | — | % | 1 | % | |||||||||||||||
| Other construction | 982,743 | 753,056 | 693,461 | 689,638 | 31 | % | 42 | % | 43 | % | ||||||||||||||
| Total land, lot, and other construction | 1,681,660 | 1,536,336 | 1,352,290 | 1,360,068 | 9 | % | 24 | % | 24 | % | ||||||||||||||
| Owner occupied | 3,570,671 | 3,529,536 | 3,197,138 | 3,121,900 | 1 | % | 12 | % | 14 | % | ||||||||||||||
| Non-owner occupied | 4,333,302 | 4,283,986 | 4,053,996 | 4,001,430 | 1 | % | 7 | % | 8 | % | ||||||||||||||
| Total commercial real estate | 7,903,973 | 7,813,522 | 7,251,134 | 7,123,330 | 1 | % | 9 | % | 11 | % | ||||||||||||||
| Commercial and industrial | 1,554,832 | 1,545,498 | 1,395,997 | 1,387,538 | 1 | % | 11 | % | 12 | % | ||||||||||||||
| Agriculture | 1,189,948 | 1,167,611 | 1,024,520 | 1,047,320 | 2 | % | 16 | % | 14 | % | ||||||||||||||
| First lien | 2,579,418 | 2,590,433 | 2,481,918 | 2,462,885 | — | % | 4 | % | 5 | % | ||||||||||||||
| Junior lien | 81,568 | 80,170 | 76,303 | 77,029 | 2 | % | 7 | % | 6 | % | ||||||||||||||
| Total 1-4 family | 2,660,986 | 2,670,603 | 2,558,221 | 2,539,914 | — | % | 4 | % | 5 | % | ||||||||||||||
| Multifamily residential | 969,573 | 975,785 | 895,242 | 921,138 |
(1) % |
8 | % | 5 | % | |||||||||||||||
| Home equity lines of credit | 1,056,757 | 1,048,595 | 1,005,783 | 1,004,300 | 1 | % | 5 | % | 5 | % | ||||||||||||||
| Other consumer | 192,501 | 197,744 | 209,457 | 221,517 | (3)% | (8)% | (13)% | |||||||||||||||||
| Total consumer | 1,249,258 | 1,246,339 | 1,215,240 | 1,225,817 | — | % | 3 | % | 2 | % | ||||||||||||||
| States and political subdivisions | 994,062 | 973,145 | 983,601 | 993,871 | 2 | % | 1 | % | — | % | ||||||||||||||
| Other | 180,711 | 188,743 | 183,894 | 188,792 |
(4) % |
(2) % |
(4) % |
|||||||||||||||||
| Total loans receivable, including loans held for sale |
18,833,654 | 18,580,478 | 17,294,909 | 17,227,313 | 1 | % | 9 | % | 9 | % | ||||||||||||||
|
Less loans held for sale 1 |
(42,668 | ) | (47,738 | ) | (33,060 | ) | (46,126 | ) |
(11) % |
29 | % |
(7) % |
||||||||||||
| Total loans receivable | $ | 18,790,986 | $ | 18,532,740 | $ | 17,261,849 | $ | 17,181,187 | 1 | % | 9 | % | 9 | % | ||||||||||
______________________________
1 Loans held for sale are primarily first lien 1-4 family loans.
|
Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification |
||||||||||||||
|
Non-performing Assets, by Loan Type |
Non- Accrual Loans |
Accruing Loans 90 Days or More Past Due |
Other real estate owned and foreclosed assets |
|||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Sep 30, 2025 |
Sep 30, 2025 |
Sep 30, 2025 |
|||||||
| Custom and owner occupied construction | $ | 476 | 235 | 198 | 202 | 184 | 292 | — | ||||||
| Pre-sold and spec construction | 2,039 | 2,806 | 2,132 | 3,705 | 2,039 | — | — | |||||||
| Total residential construction | 2,515 | 3,041 | 2,330 | 3,907 | 2,223 | 292 | — | |||||||
| Land development | 917 | 885 | 966 | 583 | 917 | — | — | |||||||
| Consumer land or lots | 358 | 460 | 78 | 458 | 358 | — | — | |||||||
| Developed lots for operative builders | 456 | 531 | 531 | 531 | — | 456 | — | |||||||
| Commercial lots | — | 47 | 47 | 47 | — | — | — | |||||||
| Total land, lot and other construction | 1,731 | 1,923 | 1,622 | 1,619 | 1,275 | 456 | — | |||||||
| Owner occupied | 5,237 | 4,412 | 2,979 | 1,903 | 4,903 | 127 | 207 | |||||||
| Non-owner occupied | 691 | 1,206 | 2,235 | 1,335 | — | — | 691 | |||||||
| Total commercial real estate | 5,928 | 5,618 | 5,214 | 3,238 | 4,903 | 127 | 898 | |||||||
| Commercial and Industrial | 24,165 | 14,764 | 2,069 | 2,455 | 22,557 | 1,608 | — | |||||||
| Agriculture | 5,408 | 6,603 | 2,335 | 6,040 | 2,135 | 3,273 | — | |||||||
| First lien | 8,388 | 10,549 | 9,053 | 6,065 | 7,652 | 736 | — | |||||||
| Junior lien | 765 | 533 | 315 | 279 | 287 | — | 478 | |||||||
| Total 1-4 family | 9,153 | 11,082 | 9,368 | 6,344 | 7,939 | 736 | 478 | |||||||
| Multifamily residential | 1,039 | 398 | 389 | 392 | 398 | 641 | — | |||||||
| Home equity lines of credit | 3,402 | 4,016 | 3,465 | 2,867 | 3,292 | 110 | — | |||||||
| Other consumer | 852 | 921 | 955 | 1,111 | 728 | 87 | 37 | |||||||
| Total consumer | 4,254 | 4,937 | 4,420 | 3,978 | 4,020 | 197 | 37 | |||||||
| Other | 119 | 240 | 39 | 148 | — | 119 | — | |||||||
| Total | $ | 54,312 | 48,606 | 27,786 | 28,121 | 45,450 | 7,449 | 1,413 | ||||||
|
Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued) |
||||||||||||||||||||
| Accruing 30-89 Days Delinquent Loans, by Loan Type | % Change from | |||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
|||||||||||||
| Custom and owner occupied construction | $ | 305 | $ | 385 | $ | 969 | $ | 13 | (21)% | (69)% | 2,246 | % | ||||||||
| Pre-sold and spec construction | — | — | 564 | 1,250 | n/m | (100)% | (100)% | |||||||||||||
| Total residential construction | 305 | 385 | 1,533 | 1,263 |
(21) % |
(80) % |
(76) % |
|||||||||||||
| Land development | — | 170 | 1,450 | 157 | (100)% | (100)% | (100)% | |||||||||||||
| Consumer land or lots | 564 | 1,210 | 402 | 747 | (53)% | 40 | % | (24)% | ||||||||||||
| Unimproved land | 33 | 75 | 36 | 39 | (56)% | (8)% | (15)% | |||||||||||||
| Developed lots for operative builders | 5,265 | — | 214 | — | n/m | 2,360 | % | n/m | ||||||||||||
| Other construction | — | 7,840 | — | — | (100)% | n/m | n/m | |||||||||||||
| Total land, lot and other construction | 5,862 | 9,295 | 2,102 | 943 |
(37) % |
179 | % | 522 | % | |||||||||||
| Owner occupied | 3,809 | 3,903 | 2,867 | 5,641 | (2)% | 33 | % | (32)% | ||||||||||||
| Non-owner occupied | 7,615 | 13,806 | 5,037 | 13,785 | (45)% | 51 | % | (45)% | ||||||||||||
| Total commercial real estate | 11,424 | 17,709 | 7,904 | 19,426 |
(35) % |
45 | % |
(41) % |
||||||||||||
| Commercial and industrial | 3,711 | 6,711 | 6,194 | 3,125 |
(45) % |
(40) % |
19 | % | ||||||||||||
| Agriculture | 2,104 | 8,243 | 744 | 16,932 |
(74) % |
183 | % |
(88) % |
||||||||||||
| First lien | 5,357 | 3,583 | 6,326 | 6,275 | 50 | % | (15)% | (15)% | ||||||||||||
| Junior lien | — | — | 214 | 13 | n/m | (100)% | (100)% | |||||||||||||
| Total 1-4 family | 5,357 | 3,583 | 6,540 | 6,288 | 50 | % |
(18) % |
(15) % |
||||||||||||
| Multifamily Residential | 150 | — | — | — | n/m | n/m | n/m | |||||||||||||
| Home equity lines of credit | 7,421 | 5,482 | 3,731 | 4,567 | 35 | % | 99 | % | 62 | % | ||||||||||
| Other consumer | 1,751 | 1,615 | 1,775 | 2,227 | 8 | % | (1)% | (21)% | ||||||||||||
| Total consumer | 9,172 | 7,097 | 5,506 | 6,794 | 29 | % | 67 | % | 35 | % | ||||||||||
| Other | 1,439 | 1,380 | 1,705 | 1,442 | 4 | % |
(16) % |
— | % | |||||||||||
| Total | $ | 39,524 | $ | 54,403 | $ | 32,228 | $ | 56,213 | (27)% | 23 | % | (30)% | ||||||||
______________________________
n/m – not measurable
|
Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued) |
||||||||||||||||
| Net Charge-Offs (Recoveries), Year-to-Date Period Ending, By Loan Type |
Charge-Offs | Recoveries | ||||||||||||||
| (Dollars in thousands) | Sep 30, 2025 |
Jun 30, 2025 |
Dec 31, 2024 |
Sep 30, 2024 |
Sep 30, 2025 |
Sep 30, 2025 |
||||||||||
| Pre-sold and spec construction | $ | — | 50 | (4 | ) | (4 | ) | 51 | 51 | |||||||
| Land development | (358 | ) | (341 | ) | 1,095 | (21 | ) | — | 358 | |||||||
| Consumer land or lots | (5 | ) | (3 | ) | (22 | ) | (21 | ) | — | 5 | ||||||
| Unimproved land | — | — | 1,338 | 5 | — | — | ||||||||||
| Commercial lots | — | — | 319 | 319 | — | — | ||||||||||
| Total land, lot and other construction | (363 | ) | (344 | ) | 2,730 | 282 | — | 363 | ||||||||
| Owner occupied | (1 | ) | (1 | ) | (73 | ) | (73 | ) | — | 1 | ||||||
| Non-owner occupied | (11 | ) | (8 | ) | 2 | (3 | ) | — | 11 | |||||||
| Total commercial real estate | (12 | ) | (9 | ) | (71 | ) | (76 | ) | — | 12 | ||||||
| Commercial and industrial | 655 | 26 | 1,422 | 1,272 | 1,508 | 853 | ||||||||||
| Agriculture | (111 | ) | (109 | ) | 64 | 65 | — | 111 | ||||||||
| First lien | (158 | ) | (79 | ) | 32 | (34 | ) | 1 | 159 | |||||||
| Junior lien | (34 | ) | (137 | ) | (65 | ) | (60 | ) | 126 | 160 | ||||||
| Total 1-4 family | (192 | ) | (216 | ) | (33 | ) | (94 | ) | 127 | 319 | ||||||
| Home equity lines of credit | (27 | ) | (20 | ) | 69 | (31 | ) | 9 | 36 | |||||||
| Other consumer | 1,151 | 656 | 1,078 | 753 | 1,386 | 235 | ||||||||||
| Total consumer | 1,124 | 636 | 1,147 | 722 | 1,395 | 271 | ||||||||||
| Other | 5,253 | 3,406 | 8,643 | 6,561 | 8,195 | 2,942 | ||||||||||
| Total | $ | 6,354 | 3,440 | 13,898 | 8,728 | 11,276 | 4,922 | |||||||||
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www.glacierbancorp.com
