Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended December 31, 2025

Rhea-AI Summary

Glacier Bancorp (NYSE: GBCI) reported fourth-quarter 2025 net income of $63.8M and diluted EPS of $0.49. Full-year 2025 net income was $239.0M and diluted EPS was $1.99, increases of 26% and 18% versus 2024, respectively. The company completed two acquisitions in 2025 (Bank of Idaho and Guaranty), bringing total assets to $31.978B at year-end. Quarter net interest income was $266M (up 18% QoQ); net interest margin was 3.58%. Loans were $20.928B (+21% Y/Y) and deposits were $24.591B (+20% Y/Y). The quarter included acquisition-related charges and a $27.2M credit loss expense tied to Guaranty.

Positive

• Net income +26% year-over-year to $239.0M for 2025
• Net interest income +26% year-over-year to $889M for 2025
• Total assets exceeded $30B, ending at $31.978B
• Loan portfolio +21% year-over-year to $20.928B
• Total deposits +20% year-over-year to $24.591B
• Completed BOID and Guaranty acquisitions adding $4.721B assets

Negative

• Quarterly net income down 6% sequentially to $63.8M
• Diluted EPS down 14% sequentially to $0.49
• Acquisition-related credit loss expense of $27.2M (Guaranty)
• Non-performing assets increased to $68.9M (+148% Y/Y)

News Market Reaction – GBCI

-3.75%

-3.75% Session close to close

In the Jan 23 session, GBCI declined 3.75%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details solid 2025 growth for GBCI, with net income of $239M, diluted EPS of $1.99...

Analysis

This announcement details solid 2025 growth for GBCI, with net income of $239M, diluted EPS of $1.99, and a Q4 net interest margin of 3.58%. Loans reached $20.928B and assets $31.978B, supported by the Bank of Idaho and Guaranty acquisitions. Investors may track non-performing asset trends, credit loss provisions, and integration progress, as well as the company’s flexibility under its effective S-3ASR shelf registered on Dec 19, 2025.

Key Figures

Q4 2025 net income: $63.8M 2025 net income: $239M Q4 2025 diluted EPS: $0.49 +5 more

8 metrics

Q4 2025 net income $63.8M Quarter ended Dec 31, 2025; includes $36.0M acquisition-related expenses

2025 net income $239M Full year 2025 vs $190M prior year (26% increase)

Q4 2025 diluted EPS $0.49 Quarter ended Dec 31, 2025; below $0.57 prior quarter and $0.54 prior year

2025 diluted EPS $1.99 Full year 2025 vs $1.68 prior year (18% increase)

Q4 2025 net interest income $266M Up from $225M prior quarter and $191M prior-year Q4

Total assets $31.978B Balance at Dec 31, 2025; exceeded $30B during quarter

Loan portfolio $20.928B Loans at Dec 31, 2025; up $2.137B (11%) in current quarter

Q4 2025 net interest margin 3.58% Tax-equivalent NIM; above 3.39% prior quarter and 2.97% prior-year Q4

Historical Context

5 past events · Latest: Jan 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 05	Earnings call notice	Neutral	+2.8%	Announced Q4 2025 release date and investor conference call details.
Nov 12	Dividend declaration	Positive	-1.6%	Declared $0.33 quarterly dividend, extending long dividend history.
Oct 16	Q3 2025 results	Positive	-2.5%	Reported higher Q3 net income, EPS, and margin expansion with loan growth.
Oct 01	Acquisition close	Positive	-1.1%	Closed Guaranty Bancshares deal, adding Texas franchise and assets.
Sep 24	Earnings call notice	Neutral	-0.3%	Scheduled Q3 2025 results release and investor conference call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows that GBCI news often received modest or even negative price reactions, including prior earnings and acquisition updates. Today’s stronger positive move on earnings contrasts with earlier instances where fundamentally positive updates coincided with short-term declines, suggesting a break from that recent pattern.

Recent Company History

Over the last six months, GBCI has reported multiple milestones: a Q3 2025 earnings beat with net income of $67.9M, completion of the Guaranty Bancshares acquisition, and consistent quarterly dividends of $0.33 per share. Earnings release and conference call announcements on Sep 24, 2025 and Jan 5, 2026 framed expectations. Despite prior positive updates sometimes seeing negative near-term price reactions, today’s full-year 2025 results—with higher earnings and margin expansion—arrive after two completed bank acquisitions and ongoing dividend consistency.

Key Terms

net interest income, net interest margin, basis points, loan to deposit ratio, +4 more

8 terms

net interest income financial

"Net interest income of $266 million for the current quarter increased..."

Net interest income is the difference between the interest a financial institution earns on loans and investments and the interest it pays on deposits and borrowings. It matters to investors because it is a primary source of profit for banks and similar firms — like the gross margin on a store’s trade — and changes with loan growth, deposit costs and interest rates, so it signals core earning power and sensitivity to rate moves.

net interest margin financial

"The net interest margin as a percentage of earning assets, on a tax-equivalent basis..."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

basis points financial

"an increase of 19 basis points from the prior quarter net interest margin..."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

loan to deposit ratio financial

"Loan to deposit ratio | | 85.26 | % | | 86.11 | %..."

The loan-to-deposit ratio compares the amount a bank has lent out to customers with the money customers have kept on deposit; it’s calculated by dividing total loans by total deposits. It matters to investors because it signals how aggressively a bank is using its deposit base—too high suggests the bank may run low on ready cash and face funding stress, while too low can mean the bank is not earning enough from its capital, like a homeowner who lends most of their savings and has little left for emergencies.

allowance for credit losses financial

"Allowance for credit losses | | (255,319 | ) | | (229,077 | )..."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

non-performing assets financial

"Total non-performing assets | $68,895 | | 54,312 | | 27,786"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

net charge-offs financial

"Net charge-offs for the current quarter were $6.4 million compared to $2.9 million..."

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

core deposit intangible financial

"Core deposit intangible | | 19,758 | | 47,813 | | 67,571"

Core deposit intangible is an accounting asset that represents the value of customer deposits a bank gains, usually through an acquisition, because those deposits provide a stable, low-cost source of funding. Think of it like paying for a loyal customer list that will save the bank money over time; it is written down over several years and affects reported earnings and the apparent cost of acquiring new funds, so investors watch it to understand future profitability and capital impact.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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4th Quarter 2025 Highlights:

• On October 1, 2025 the Company completed the acquisition of Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”). The acquisition expanded the Company’s southwest presence and is its first entrance into the state of Texas. Guaranty had total assets of $3.357 billion as of the acquisition date.
• Including the $36.0 million of expenses related to the current year acquisitions, net income was $63.8 million for the current quarter, a decrease of $4.1 million, or 6 percent, from the prior quarter net income of $67.9 million and an increase of $2.0 million, or 3 percent, from the prior year fourth quarter net income of $61.8 million.
• Diluted earnings per share for the current quarter was $0.49 per share, a decrease of $0.08 per share, or 14 percent, from the prior quarter diluted earnings per share of $0.57 and a decrease of $0.05 per share, or 9 percent, from the prior year fourth quarter diluted earnings per share of $0.54.
• Net interest income of $266 million for the current quarter increased $40.7 million, or 18 percent, from the prior quarter net interest income of $225 million and increased $74.6 million, or 39 percent, from the prior year fourth quarter net interest income of $191 million.
• The Company’s total assets exceeded $30 billion during the current quarter, ending the year at $31.978 billion.
• The loan portfolio of $20.928 billion at December 31, 2025 increased $2.137 billion, or 11 percent, from the prior quarter.
• Total deposits of $24.591 billion at December 31, 2025 increased $2.720 billion, or 12 percent, from the prior quarter.
• The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.58 percent, an increase of 19 basis points from the prior quarter net interest margin of 3.39 percent and an increase of 61 basis points from the prior year fourth quarter net interest margin of 2.97 percent.
• The loan yield of 6.09 percent in the current quarter increased 12 basis points from the prior quarter loan yield of 5.97 percent and increased 37 basis points from the prior year fourth quarter loan yield of 5.72 percent.
• The total earning asset yield of 5.00 percent in the current quarter increased 14 basis points from the prior quarter earning asset yield of 4.86 percent and increased 43 basis points from the prior year fourth quarter earning asset yield of 4.57 percent.
• The total cost of funding (including non-interest bearing deposits) of 1.52 percent in the current quarter decreased 6 basis points from the prior quarter total cost of funding of 1.58 percent and decreased 19 basis points from the prior year fourth quarter total cost of funding of 1.71 percent.
• The Company declared a quarterly dividend of $0.33 per share. The Company has declared 163 consecutive quarterly dividends and has increased the dividend 49 times.

Year 2025 Highlights

• Net income for 2025 was $239 million, an increase of $48.9 million, or 26 percent, from the prior year net income of $190 million.
• Diluted earnings per share for 2025 was $1.99 per share, an increase of $0.31 per share, or 18 percent, from the prior year diluted earnings per share of $1.68 per share.
• Net interest income of $889 million for 2025 increased $184 million, or 26 percent, from the prior year net interest income of $705 million.
• The loan portfolio increased $3.666 billion, or 21 percent, during 2025.
• Total deposits increased $4.044 billion, or 20 percent, during 2025.
• The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for 2025 was 3.32 percent, an increase of 55 basis points from the prior year net interest margin of 2.77 percent.
• Dividends declared in 2025 were $1.32 per share.
• The Company completed the acquisition and core system conversion of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”), which had total assets of $1.364 billion as of the acquisition date of April 30, 2025.
• The Company completed the acquisition of Guaranty, which had total assets of $3.357 billion as of the acquisition date of October 1, 2025.
  

Financial Summary  

	At or for the Three Months ended																At or for the Year ended
(Dollars in thousands, except per share and market data)	Dec 31, 2025				Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Dec 31, 2024			Dec 31, 2025			Dec 31, 2024
Operating results
Net income	$	63,779			67,900			52,781			54,568			61,754			239,028			190,144
Basic earnings per share	$	0.49			0.57			0.45			0.48			0.54			2.00			1.68
Diluted earnings per share	$	0.49			0.57			0.45			0.48			0.54			1.99			1.68
Dividends declared per share	$	0.33			0.33			0.33			0.33			0.33			1.32			1.32
Market value per share
Closing	$	44.05			48.67			43.08			44.22			50.22			44.05			50.22
High	$	49.56			50.54			44.70			52.81			60.67			52.81			60.67
Low	$	39.90			42.08			36.76			43.18			43.70			36.76			34.35
Selected ratios and other data
Number of common stock shares outstanding		129,971,712			118,552,847			118,550,475			113,517,944			113,401,955			129,971,712			113,401,955
Average outstanding shares - basic		129,950,587			118,552,231			116,890,776			113,451,199			113,398,213			119,753,227			113,170,157
Average outstanding shares - diluted		130,145,104			118,628,434			116,918,290			113,546,365			113,541,026			119,935,056			113,243,427
Return on average assets (annualized)		0.78	%		0.93	%		0.74	%		0.80	%		0.87	%		0.81	%		0.68	%
Return on average equity (annualized)		6.05	%		7.52	%		6.13	%		6.77	%		7.62	%		6.59	%		6.02	%
Efficiency ratio		61.04	%		62.05	%		62.08	%		65.49	%		60.50	%		62.50	%		66.71	%
Loan to deposit ratio		85.26	%		86.11	%		85.91	%		83.64	%		84.17	%		85.26	%		84.17	%
Number of full time equivalent employees		4,087			3,649			3,665			3,457			3,441			4,087			3,441
Number of locations		281			248			247			227			227			281			227
Number of ATMs		337			298			300			286			284			337			284

KALISPELL, Mont., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $63.8 million for the current quarter, a decrease of $4.1 million, or 6 percent from the prior quarter net income of $67.9 million and an increase of $2.0 million, or 3 percent, from the $61.8 million of net income for the prior year fourth quarter. Diluted earnings per share for the current quarter was $0.49 per share, a decrease of $0.08 per share, or 14 percent, from the prior quarter diluted earnings per share of $0.57 and a decrease of $0.05 per share, or 9 percent, from the prior year fourth quarter diluted earnings per share of $0.54. The current quarter included $27.2 million of credit loss expense from the acquisition of Guaranty, $5.8 million in acquisition-related expenses, $3.0 million of expenses related to vacating branch locations, $1.4 million of income related to bank owned life insurance proceeds and $827 thousand of reduction of expense related to a prior year FDIC special assessment. “Glacier Bancorp delivered another year of strong performance, marked by a 26 percent increase in earnings and significant strategic progress. In 2025, we expanded our footprint with the acquisitions of Bank of Idaho and Guaranty Bank & Trust, strengthening our presence in high-growth markets and positioning us for continued success,” said Randy Chesler, President and Chief Executive Officer. “We achieved robust margin expansion, double-digit loan and deposit growth, and maintained excellent credit quality. These results reflect the strength of our community banking model and the quality of our team. As we enter 2026, we remain focused on disciplined growth, service excellence, and creating long-term value for our shareholders.”

Net income for the current year was $239 million, an increase of $48.9 million, or 26 percent, from the prior year net income of $190 million. Diluted earnings per share for 2025 was $1.99 per share, an increase of 18 percent from the prior year diluted earnings per share of $1.68 per share.

On October 1, 2025, the Company completed the acquisition of Guaranty, a leading community bank headquartered in Mount Pleasant, Texas. Guaranty had 33 bank locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston, Bryan/College Station and Austin markets. Upon closing of the transaction, Guaranty operates as the Company’s 18th separate bank division. The Company’s results of operations and financial condition include the Guaranty acquisition beginning on the acquisition date.

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			GNTY
(Dollars in thousands)	April 30, 2025			October 1, 2025			Total
Total assets	$	1,364,085		$	3,356,636		$	4,720,721
Cash and cash equivalents		26,127			178,885			205,012
Debt securities		139,974			607,276			747,250
Loans receivable		1,075,232			2,102,378			3,177,610
Non-interest bearing deposits		271,385			831,857			1,103,242
Interest bearing deposits		806,992			1,874,883			2,681,875
Borrowings and subordinated debt		71,932			60,466			132,398
Core deposit intangible		19,758			47,813			67,571
Goodwill		68,745			258,220			326,965

Asset Summary

											$ Change from
(Dollars in thousands)	Dec 31, 2025				Sep 30, 2025			Dec 31, 2024			Sep 30, 2025			Dec 31, 2024
Cash and cash equivalents	$	1,235,261			854,244			848,408			381,017			386,853
Debt securities, available-for-sale		4,007,512			3,916,189			4,245,205			91,323			(237,693	)
Debt securities, held-to-maturity		3,110,216			3,155,901			3,294,847			(45,685	)		(184,631	)
Total debt securities		7,117,728			7,072,090			7,540,052			45,638			(422,324	)
Loans receivable
Residential real estate		2,457,907			1,926,448			1,858,929			531,459			598,978
Commercial real estate		13,565,512			12,045,446			10,963,713			1,520,066			2,601,799
Other commercial		3,497,829			3,451,177			3,119,535			46,652			378,294
Home equity		977,206			980,472			930,994			(3,266	)		46,212
Other consumer		429,342			387,443			388,678			41,899			40,664
Loans receivable		20,927,796			18,790,986			17,261,849			2,136,810			3,665,947
Allowance for credit losses		(255,319	)		(229,077	)		(206,041	)		(26,242	)		(49,278	)
Loans receivable, net		20,672,477			18,561,909			17,055,808			2,110,568			3,616,669
Other assets		2,952,597			2,527,384			2,458,719			425,213			493,878
Total assets	$	31,978,063			29,015,627			27,902,987			2,962,436			4,075,076

The Company continues to maintain a strong cash position of $1.235 billion at December 31, 2025, which was an increase of $381 million, or 45 percent, over the prior quarter and an increase of $387 million, or 46 percent, over the prior year fourth quarter. Total debt securities of $7.118 billion at December 31, 2025 increased $45.6 million, or 1 percent, during the current quarter and decreased $422 million, or 6 percent, from the prior year end. Debt securities represented 22 percent of total assets at December 31, 2025 compared to 24 percent at September 30, 2025 and 27 percent at December 31, 2024.

The loan portfolio of $20.928 billion at December 31, 2025 increased $2.137 billion, or 11 percent, during the current quarter. Excluding the Guaranty acquisition, the loan portfolio organically increased $34.4 million, or 1 percent annualized, in the current quarter and the loan category with the largest dollar increase was commercial real estate loans which increased $124 million, or 4 percent annualized. The loan portfolio increased $3.666 billion, or 21 percent, during 2025. Excluding the Guaranty and BOID acquisitions, the loan portfolio increased $488 million, or 3 percent, during 2025 and the loan category with the largest dollar increase was commercial real estate which increased $474 million, or 4 percent.

Credit Quality Summary

	At or for the Year ended				At or for the Nine Months ended			At or for the Year ended
(Dollars in thousands)	Dec 31, 2025				Sep 30, 2025			Dec 31, 2024
Allowance for credit losses
Balance at beginning of period	$	206,041			206,041			192,757
Acquisitions		154			35			3
Provision for credit losses		61,846			29,355			27,179
Charge-offs		(18,682	)		(11,276	)		(18,626	)
Recoveries		5,960			4,922			4,728
Balance at end of period	$	255,319			229,077			206,041
Provision for credit losses
Loan portfolio	$	61,846			29,355			27,179
Unfunded loan commitments		9,554			6,382			1,127
Total provision for credit losses	$	71,400			35,737			28,306
Other real estate owned	$	284			1,376			1,085
Other foreclosed assets		127			37			79
Accruing loans 90 days or more past due		5,997			7,449			6,177
Non-accrual loans		62,487			45,450			20,445
Total non-performing assets	$	68,895			54,312			27,786
Non-performing assets as a percentage of subsidiary assets		0.22	%		0.19	%		0.10	%
Allowance for credit losses as a percentage of non-performing loans		373	%		433	%		774	%
Allowance for credit losses as a percentage of total loans		1.22	%		1.22	%		1.19	%
Net charge-offs as a percentage of total loans		0.06	%		0.03	%		0.08	%
Accruing loans 30-89 days past due	$	78,826			39,524			32,228
U.S. government guarantees included in non-performing assets	$	8,733			10,358			748

Non-performing assets of $68.9 million at December 31, 2025 increased $14.6 million, or 27 percent, over the prior quarter and increased $41.1 million, or 148 percent, over the prior year end. Excluding $18.8 million from the acquisition of Guaranty, non-performing assets were $50.1 million or 17 basis points as a percentage of subsidiary assets at December 31, 2025, and decreased $4.3 million, or 8 percent, from the prior quarter.

Early stage delinquencies (accruing loans 30-89 days past due) of $78.8 million at December 31, 2025 increased $39.3 million from the prior quarter and increased $46.6 million from the prior year fourth quarter. Excluding $10.0 million from the acquisition of Guaranty, early stage delinquencies were $68.8 million or 0.37 percent of loans at December 31, 2025, and increased $29.2 million from the prior quarter. Early stage delinquencies as a percentage of loans at December 31, 2025 were 0.38 percent compared to 0.21 percent for the prior quarter end and 0.19 percent for the prior year fourth quarter and remain at historically low levels for the Company.

The current quarter provision for credit loss expense of $35.7 million included $25.6 million of credit loss expense on loans and $1.6 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 December 31, 2025 and September 30, 2025 compared to 1.19 percent at December 31, 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
Fourth quarter 2025	$	32,491		$	6,368		1.22	%		0.38	%		0.22	%
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	%

Net charge-offs for the current quarter were $6.4 million compared to $2.9 million in the prior quarter and $5.2 million for the prior year fourth quarter. The current quarter net charge-offs included $2.2 million in deposit overdraft net charge-offs and $4.2 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)	Dec 31, 2025			Sep 30, 2025		Dec 31, 2024		Sep 30, 2025			Dec 31, 2024
Deposits
Non-interest bearing deposits	$	7,314,779		6,674,441		6,136,709		640,338			1,178,070
NOW and DDA accounts		6,236,551		5,805,816		5,543,512		430,735			693,039
Savings accounts		3,158,939		3,049,753		2,845,124		109,186			313,815
Money market deposit accounts		3,948,201		3,137,810		2,878,213		810,391			1,069,988
Certificate accounts		3,928,550		3,199,825		3,139,821		728,725			788,729
Core deposits, total		24,587,020		21,867,645		20,543,379		2,719,375			4,043,641
Wholesale deposits		4,076		3,304		3,615		772			461
Deposits, total		24,591,096		21,870,949		20,546,994		2,720,147			4,044,102
Repurchase agreements		2,084,113		2,004,286		1,777,475		79,827			306,638
Deposits and repurchase agreements, total		26,675,209		23,875,235		22,324,469		2,799,974			4,350,740
Federal Home Loan Bank advances		440,000		895,022		1,800,000		(455,022	)		(1,360,000	)
Other borrowed funds		51,473		59,779		62,062		(8,306	)		(10,589	)
Finance lease liabilities		28,808		18,401		21,279		10,407			7,529
Subordinated debentures		187,492		157,379		133,105		30,113			54,387
Other liabilities		381,260		401,523		338,218		(20,263	)		43,042
Total liabilities	$	27,764,242		25,407,339		24,679,133		2,356,903			3,085,109

Total deposits of $24.591 billion at December 31, 2025 increased $2.720 billion, or 12 percent, during the current quarter and increased $4.044 billion, or 20 percent, from the prior year end. Excluding acquisitions, total deposits increased $13.4 million, or 6 basis points, during the current quarter and increased $259 million, or 1 percent, from the prior year end.

Non-interest bearing deposits of $7.315 billion at December 31, 2025 increased $640 million, or 10 percent, from the prior quarter and increased $1.178 billion, or 19 percent, from the prior year end. Excluding acquisitions, total non-interest bearing deposits increased $74.8 million or 1 percent, from the prior year end. Non-interest bearing deposits represented 30 percent of total deposits at December 31, 2025 compared to 31 percent at September 30, 2025 and 30 percent at December 31, 2024.

Federal Home Loan Bank (“FHLB”) advances of $440 million decreased $455 million, or 51 percent, from the prior quarter and decreased $1.360 billion, or 76 percent, from the prior year end. Subordinated debentures of $187 million increased $30.1 million, or 19 percent, from the prior quarter and included an increase of $39.6 million from the acquisition of Guaranty.

Stockholders’ Equity Summary

											$ Change from
(Dollars in thousands, except per share data)	Dec 31, 2025				Sep 30, 2025			Dec 31, 2024			Sep 30, 2025			Dec 31, 2024
Common equity	$	4,380,931			3,801,178			3,533,150			579,753			847,781
Accumulated other comprehensive loss		(167,110	)		(192,890	)		(309,296	)		25,780			142,186
Total stockholders’ equity		4,213,821			3,608,288			3,223,854			605,533			989,967
Goodwill and intangibles, net		(1,483,552	)		(1,182,536	)		(1,102,500	)		(301,016	)		(381,052	)
Tangible stockholders’ equity	$	2,730,269			2,425,752			2,121,354			304,517			608,915

Stockholders’ equity to total assets		13.18	%		12.44	%		11.55	%
Tangible stockholders’ equity to total tangible assets		8.95	%		8.72	%		7.92	%
Book value per common share	$	32.42			30.44			28.43			1.98			3.99
Tangible book value per common share	$	21.01			20.46			18.71			0.55			2.30

Tangible stockholders’ equity of $2.730 billion at December 31, 2025 increased $305 million, or 13 percent, compared to the prior quarter and was primarily due to $554 million of Company stock issued in connection with the acquisition of Guaranty. The increase was partially offset by $306 million of goodwill and core deposit intangible associated with the Guaranty acquisition.

Tangible stockholders’ equity at December 31, 2025 increased $609 million, or 29 percent, compared to the prior year end and was primarily due to $759 million of Company stock issued in connection with the acquisitions of BOID and Guaranty and a $142 million decrease in other comprehensive loss. The increase was partially offset by the increase in goodwill and core deposit intangible associated with the BOID and Guaranty acquisitions. Tangible book value per common share of $21.01 at the current quarter end increased $0.55 per share, or 3 percent, from the prior quarter and increased $2.30 per share, or 12 percent, from the prior year fourth quarter.

Cash Dividends
On November 12, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable December 18, 2025 to shareholders of record on December 9, 2025. The dividend was the Company’s 163rd 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 December 31, 2025 
Compared to September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024

Income Summary

	Three Months ended
(Dollars in thousands)	Dec 31, 2025				Sep 30, 2025				Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
Net interest income
Interest income	$	372,754				325,003			308,115			289,925			297,036
Interest expense		106,688				99,624			100,499			99,946			105,593
Total net interest income		266,066				225,379			207,616			189,979			191,443
Non-interest income
Service charges and other fees		24,387				21,460			20,405			18,818			20,322
Miscellaneous loan fees and charges		5,589				5,123			5,067			4,664			4,541
Gain on sale of loans		4,594				5,027			4,273			4,311			3,926
Other income		5,877				3,742			3,199			4,849			2,760
Total non-interest income		40,447				35,352			32,944			32,642			31,549
Total income	$	306,513				260,731			240,560			222,621			222,992
Net interest margin (tax-equivalent)		3.58	%			3.39	%		3.21	%		3.04	%		2.97	%
					$ Change from
(Dollars in thousands)					Sep 30, 2025				Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
Net interest income
Interest income					$	47,751			64,639			82,829			75,718
Interest expense						7,064			6,189			6,742			1,095
Total net interest income						40,687			58,450			76,087			74,623
Non-interest income
Service charges and other fees						2,927			3,982			5,569			4,065
Miscellaneous loan fees and charges						466			522			925			1,048
Gain on sale of loans						(433	)		321			283			668
Other income						2,135			2,678			1,028			3,117
Total non-interest income						5,095			7,503			7,805			8,898
Total income					$	45,782			65,953			83,892			83,521

Net Interest Income
Net interest income of $266 million for the current quarter increased $40.7 million, or 18 percent, from the prior quarter net interest income of $225 million and increased $74.6 million, or 39 percent, from the prior year fourth quarter net interest income of $191 million. The current quarter interest income of $373 million increased $47.8 million, or 15 percent, over the prior quarter and increased $75.8 million, or 26 percent, over the prior year fourth 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 6.09 percent in the current quarter increased 12 basis points from the prior quarter loan yield of 5.97 percent and increased 37 basis points from the prior year fourth quarter loan yield of 5.72 percent.

The current quarter interest expense of $107 million increased $7.1 million, or 7 percent, from the prior quarter and increased $1.1 million, or 1 percent, from the prior year fourth quarter and was primarily attributable to an increase in average deposits which was partially offset by the decrease in higher cost borrowings. Deposit cost (including non-interest bearing deposits) increased to 1.26 percent in the current quarter compared to 1.23 percent in the prior quarter and was primarily driven by the acquisition of Guaranty which had higher cost of deposits. Deposit costs decreased 3 basis points from the prior year fourth quarter deposit cost of 1.29 percent. The total cost of funding (including non-interest bearing deposits) of 1.52 percent in the current quarter decreased 6 basis points from the prior quarter and decreased 19 basis points from the prior year fourth quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.58 percent, an increase of 19 basis points from the prior quarter net interest margin of 3.39 percent and was primarily driven by an increase in loan yields and a decrease in the 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 61 basis points from the prior year fourth quarter net interest margin of 2.97 percent and was also primarily driven by the increase in loan yields and the decrease in the total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 6 basis points from discount accretion and the 1 basis point of non-accrual interest recovery, the core net interest margin was 3.51 percent in the current quarter compared to 3.35 percent in the prior quarter and 2.92 percent in the prior year fourth quarter. “The Company was pleased with the 19 basis points increase in the current quarter net interest margin,” said Ron Copher, Chief Financial Officer. “Deploying lower yield cash flow from investment securities into higher yield earning assets in combination with continued reduction in the total cost of funding were primary drivers of the current quarter increase in the net interest margin.”

Non-interest Income
Non-interest income for the current quarter totaled $40.4 million, which was an increase of $5.1 million, or 14 percent, over the prior quarter and an increase of $8.9 million, or 28 percent, over the prior year fourth quarter. Service charges and other fees of $24.4 million for the current quarter increased $2.9 million, or 14 percent, compared to the prior quarter and increased $4.1 million, or 20 percent, compared to the prior year fourth quarter. Gain on the sale of residential loans of $4.6 million for the current quarter decreased $433 thousand, or 9 percent, compared to the prior quarter and increased $668 thousand, or 17 percent, from the prior year fourth quarter. Other income of $5.9 million in the current quarter included $1.4 million of income related to bank owned life insurance proceeds.

on-interest Expense Summary

	Three Months ended
(Dollars in thousands)	Dec 31, 2025			Sep 30, 2025				Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
Compensation and employee benefits	$	110,999			96,498			94,355			91,443			81,600
Occupancy and equipment		17,529			13,236			12,558			12,294			11,589
Advertising and promotions		4,609			4,620			4,394			4,144			3,725
Data processing		13,089			10,634			9,883			9,138			9,145
Other real estate owned and foreclosed assets		140			63			26			63			30
Regulatory assessments and insurance		5,495			5,799			5,847			5,534			5,890
Intangibles amortization		5,180			3,813			3,624			3,270			3,613
Other expenses		37,516			33,120			24,432			25,432			25,373
Total non-interest expense	$	194,557			167,783			155,119			151,318			140,965
				$ Change from
(Dollars in thousands)				Sep 30, 2025				Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
Compensation and employee benefits				$	14,501			16,644			19,556			29,399
Occupancy and equipment					4,293			4,971			5,235			5,940
Advertising and promotions					(11	)		215			465			884
Data processing					2,455			3,206			3,951			3,944
Other real estate owned and foreclosed assets					77			114			77			110
Regulatory assessments and insurance					(304	)		(352	)		(39	)		(395	)
Core deposit intangibles amortization					1,367			1,556			1,910			1,567
Other expenses					4,396			13,084			12,084			12,143
Total non-interest expense				$	26,774			39,438			43,239			53,592

Total non-interest expense of $195 million for the current quarter increased $26.8 million, or 16 percent, over the prior quarter and increased $53.6 million, or 38 percent, over the prior year fourth quarter and was primarily driven by increased costs from the acquisitions. Included in the current quarter non-interest expense was $24.1 million from the Guaranty acquisition and $3.0 million of expenses related to vacating branch locations.

Compensation and employee benefits of $111 million for the current quarter increased by $14.5 million, or 15 percent, over the prior quarter which was primarily driven by $14.6 million compensation from Guaranty. Compensation and employee benefits increased $29.4 million, or 36 percent, from the prior year fourth quarter and was primarily driven by annual salary increases and increases in staffing levels from the current year acquisitions. Occupancy and equipment expense of $17.5 million increased $4.3 million, or 32 percent, from the prior quarter and was primarily due to increased costs from current year acquisitions, including $1.1 million of expenses related to vacating branch locations. Regulatory assessment and insurance expense of $5.5 million decreased $304 thousand, or 5 percent, from the prior quarter and decreased $395 thousand, or 7 percent, from the prior year fourth quarter, primarily as a result of a $827 thousand expense related to a prior year FDIC special assessment.

Other expenses of $37.5 million increased $4.4 million, or 13 percent, from the prior quarter and was primarily driven by increased costs from acquisitions, including $1.9 million of write-off of fixed asset expenses related to vacating branch locations and $1.4 million increased expenses associated with investments in tax equity credits. Acquisition-related expense was $5.8 million in the current quarter compared to $7.0 million in the prior quarter and $491 thousand in the prior year fourth quarter. The other expenses included $2.1 million of gain from the sale of a former branch facility in the prior year fourth quarter.

Federal and State Income Tax Expense

Tax expense during the fourth quarter of 2025 was $12.5 million, a decrease of $4.9 million, or 28 percent, compared to the prior quarter and an increase of $775 thousand, or 7 percent, from the prior year fourth quarter. The effective tax rate in the current quarter was 16.4 percent compared to 20.4 percent in the prior quarter and 16.0 percent in the prior year fourth quarter. The lower tax expense and lower effective tax rate in the current quarter compared to the prior quarter was primarily the result of a decrease in pre-tax income and a decrease in federal income tax credits.

Efficiency Ratio
The efficiency ratio was 61.04 percent in the current quarter compared to 62.05 percent in the prior quarter and 60.50 in the prior year fourth quarter. The decrease from the prior quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense. The increase from the prior year fourth quarter was primarily due to increases in acquisition-related expenses and the current quarter expense related to vacating branch locations.

Operating Results for Ended December 31, 2025
Compared to December 31, 2024

Income Summary

	Year ended
(Dollars in thousands)	Dec 31, 2025				Dec 31, 2024				$ Change				% Change
Net interest income
Interest income	$	1,295,797			$	1,139,850			$	155,947			14	%
Interest expense		406,757				435,218				(28,461	)		(7)%
Total net interest income		889,040				704,632				184,408			26	%
Non-interest income
Service charges and other fees		85,070				78,894				6,176			8	%
Miscellaneous loan fees and charges		20,443				18,694				1,749			9	%
Gain on sale of loans		18,205				16,855				1,350			8	%
Gain on sale of securities		—				30				(30	)		(100)%
Other income		17,667				13,973				3,694			26	%
Total non-interest income		141,385				128,446				12,939			10	%
Total Income	$	1,030,425			$	833,078			$	197,347			24	%
Net interest margin (tax-equivalent)		3.32	%			2.77	%

Net Interest Income
Net interest income of $889 million for 2025 increased $184 million, or 26 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $1.296 billion for 2025 increased $156 million, or 14 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 5.93 percent during 2025, an increase of 32 basis points from the prior year loan yield of 5.61 percent.

Interest expense of $407 million for 2025 decreased $28 million, or 7 percent, from 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 1.25 percent for 2025, which was a decrease of 9 basis points from the prior year deposit costs of 1.34 percent. The total funding cost (including non-interest bearing deposits) for 2025 was 1.60 percent, which was a decrease of 19 basis points over the prior year funding cost of 1.79 percent.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during 2025 was 3.32 percent, a 55 basis points increase from the net interest margin of 2.77 percent for the prior year. Excluding the 5 basis points from discount accretion, the core net interest margin was 3.27 percent in the current year compared to 2.72 percent in the prior year. 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 $141 million for 2025 increased $12.9 million, or 10 percent, over last year. Service charges and other fees of $85.1 million for 2025 increased $6.2 million, or 8 percent, over the prior year. Gain on sale of residential loans of $18.2 million for 2025 increased by $1.4 million, or 8 percent, over the prior year. Other income of $17.7 million for 2025 increased $3.7 million over the prior year. Included in the current year other income was $2.8 million of income related to bank owned life insurance proceeds.

Non-interest Expense Summary

	Year ended
(Dollars in thousands)	Dec 31, 2025			Dec 31, 2024			$ Change				% Change
Compensation and employee benefits	$	393,295		$	336,906		$	56,389			17	%
Occupancy and equipment		55,617			47,055			8,562			18	%
Advertising and promotions		17,767			16,132			1,635			10	%
Data processing		42,744			36,887			5,857			16	%
Other real estate owned and foreclosed assets		292			217			75			35	%
Regulatory assessments and insurance		22,675			24,194			(1,519	)		(6)%
Core deposit intangibles amortization		15,887			12,757			3,130			25	%
Other expenses		120,500			104,320			16,180			16	%
Total non-interest expense	$	668,777		$	578,468		$	90,309			16	%

Total non-interest expense of $669 million for 2025 increased $90.3 million, or 16 percent, over the same period in the prior year and was primarily driven by increased costs from recent acquisitions. Compensation and employee benefits expense of $393 million in 2025 increased $56.4 million, or 17 percent, over the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $22.7 million for 2025 decreased $1.5 million, or 6 percent, from the prior year primarily as a result of adjustments to the FDIC special assessment. Other expenses of $121 million for 2025 increased $16.2 million, or 16 percent, from the prior year. Included in other expenses was $16.6 million of acquisition-related expenses in the current year compared to $9.9 million in the prior year. Other expenses also included $2.8 million of gain from the sale of former branch facilities in the current year and $5.6 million in the prior year.

Provision for Credit Losses

The provision for credit loss expense was $71.4 million for 2025, an increase of $43.1 million, or 152 percent, over the same period in the prior year. Included in the current year provision for credit losses was $43.9 million from current year acquisitions and included in the prior year was $9.7 million from acquisitions in the prior year. Net charge-offs for 2025 were $12.7 million compared to $13.9 million in 2024.

Federal and State Income Tax Expense
Tax expense of $51.2 million for 2025 increased $15.1 million, or 42 percent, over the same period in the prior year. The effective tax rate for 2025 was 17.6 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 the increase in pre-tax income.

Efficiency Ratio
The efficiency ratio was 62.50 percent for 2025 compared to 66.71 percent for 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 the possibility of increases in FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increases or changes in banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
• risks related to overall economic conditions, including the impact of a potential 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, conflicts in the Middle East, and potential for future conflicts or disruptions in other parts of the world;
• risks associated with the Company’s ability to negotiate, complete, and successfully integrate 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, additional competition from internet-based financial institutions operating nationally, or further consolidation in the financial services industry, resulting in increased competition, including 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, January 23, 2026. 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/BI37b70116241941dfb146b09710d5794e. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/hmur9gt6. 

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 & Trust (Mount Pleasant, TX), 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)	Dec 31, 2025				Sep 30, 2025			Dec 31, 2024
Assets
Cash on hand and in banks	$	321,526			312,506			268,746
Interest bearing cash deposits		913,735			541,738			579,662
Cash and cash equivalents		1,235,261			854,244			848,408
Debt securities, available-for-sale		4,007,512			3,916,189			4,245,205
Debt securities, held-to-maturity		3,110,216			3,155,901			3,294,847
Total debt securities		7,117,728			7,072,090			7,540,052
Loans held for sale, at fair value		39,186			42,668			33,060
Loans receivable		20,927,796			18,790,986			17,261,849
Allowance for credit losses		(255,319	)		(229,077	)		(206,041	)
Loans receivable, net		20,672,477			18,561,909			17,055,808
Premises and equipment, net		486,184			427,271			411,968
Right-of-use assets, net		75,574			54,502			56,252
Other real estate owned and foreclosed assets		411			1,413			1,164
Accrued interest receivable		120,092			120,257			99,262
Deferred tax asset		101,337			99,702			138,955
Intangibles, net		105,269			61,135			51,182
Goodwill		1,378,283			1,121,401			1,051,318
Non-marketable equity securities		42,764			61,362			99,669
Bank-owned life insurance		235,090			191,996			189,849
Other assets		368,407			345,677			326,040
Total assets	$	31,978,063			29,015,627			27,902,987
Liabilities
Non-interest bearing deposits	$	7,314,779			6,674,441			6,136,709
Interest bearing deposits		17,276,317			15,196,508			14,410,285
Securities sold under agreements to repurchase		2,084,113			2,004,286			1,777,475
FHLB advances		440,000			895,022			1,800,000
Other borrowed funds		51,473			59,779			62,062
Finance lease liabilities		28,808			18,401			21,279
Subordinated debentures		187,492			157,379			133,105
Accrued interest payable		32,786			27,733			33,626
Operating lease liabilities		52,869			41,367			39,902
Other liabilities		295,605			332,423			264,690
Total liabilities		27,764,242			25,407,339			24,679,133
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		1,300			1,186			1,134
Paid-in capital		3,220,064			2,657,469			2,448,758
Retained earnings - substantially restricted		1,159,567			1,142,523			1,083,258
Accumulated other comprehensive loss		(167,110	)		(192,890	)		(309,296	)
Total stockholders’ equity		4,213,821			3,608,288			3,223,854
Total liabilities and stockholders’ equity	$	31,978,063			29,015,627			27,902,987

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations
	Three Months ended							Year ended
(Dollars in thousands)	Dec 31, 2025			Sep 30, 2025		Dec 31, 2024		Dec 31, 2025		Dec 31, 2024
Interest Income
Investment securities	$	51,988		45,348		50,381		187,130		195,135
Residential real estate loans		35,164		26,335		23,960		111,135		89,596
Commercial loans		259,456		228,363		199,260		900,023		765,959
Consumer and other loans		26,146		24,957		23,435		97,509		89,160
Total interest income		372,754		325,003		297,036		1,295,797		1,139,850
Interest Expense
Deposits		78,407		67,346		67,079		274,187		272,734
Securities sold under agreements to repurchase		14,624		14,706		14,822		57,172		55,723
Federal Home Loan Bank advances		9,456		14,271		21,848		62,252		72,620
FRB Bank Term Funding		—		—		—		—		27,097
Other borrowed funds		745		385		348		1,932		1,297
Subordinated debentures		3,456		2,916		1,496		11,214		5,747
Total interest expense		106,688		99,624		105,593		406,757		435,218
Net Interest Income		266,066		225,379		191,443		889,040		704,632
Provision for credit losses		35,663		7,656		8,534		71,400		28,306
Net interest income after provision for credit losses		230,403		217,723		182,909		817,640		676,326
Non-Interest Income
Service charges and other fees		24,387		21,460		20,322		85,070		78,894
Miscellaneous loan fees and charges		5,589		5,123		4,541		20,443		18,694
Gain on sale of loans		4,594		5,027		3,926		18,205		16,855
Gain on sale of securities		—		—		—		—		30
Other income		5,877		3,742		2,760		17,667		13,973
Total non-interest income		40,447		35,352		31,549		141,385		128,446
Non-Interest Expense
Compensation and employee benefits		110,999		96,498		81,600		393,295		336,906
Occupancy and equipment		17,529		13,236		11,589		55,617		47,055
Advertising and promotions		4,609		4,620		3,725		17,767		16,132
Data processing		13,089		10,634		9,145		42,744		36,887
Other real estate owned and foreclosed assets		140		63		30		292		217
Regulatory assessments and insurance		5,495		5,799		5,890		22,675		24,194
Intangibles amortization		5,180		3,813		3,613		15,887		12,757
Other expenses		37,516		33,120		25,373		120,500		104,320
Total non-interest expense		194,557		167,783		140,965		668,777		578,468
Income Before Income Taxes		76,293		85,292		73,493		290,248		226,304
Federal and state income tax expense		12,514		17,392		11,739		51,220		36,160
Net Income	$	63,779		67,900		61,754		239,028		190,144

Glacier Bancorp, Inc. Average Balance Sheets
	Three Months ended
	December 31, 2025									September 30, 2025
(Dollars in thousands)	Average Balance			Interest & Dividends			Average Yield/ Rate			Average Balance			Interest & Dividends			Average Yield/ Rate
Assets
Residential real estate loans	$	2,515,221		$	35,164		5.59	%		$	1,962,831		$	26,335		5.37	%
Commercial loans1		17,061,043			261,088		6.07	%			15,351,367			229,915		5.94	%
Consumer and other loans		1,412,458			26,146		7.34	%			1,363,996			24,957		7.26	%
Total loans2		20,988,722			322,398		6.09	%			18,678,194			281,207		5.97	%
Tax-exempt debt securities3		1,665,176			14,189		3.41	%			1,583,554			14,068		3.55	%
Taxable debt securities4, 5		7,188,543			39,719		2.21	%			6,554,179			33,185		2.03	%
Total earning assets		29,842,441			376,306		5.00	%			26,815,927			328,460		4.86	%
Goodwill and intangibles		1,444,364									1,184,370
Non-earning assets		1,201,340									987,070
Total assets	$	32,488,145								$	28,987,367
Liabilities
Non-interest bearing deposits	$	7,526,159		$	—		—	%		$	6,550,398		$	—		—	%
NOW and DDA accounts		6,118,413			16,991		1.10	%			5,734,329			16,483		1.14	%
Savings accounts		3,174,869			6,014		0.75	%			2,995,538			5,843		0.77	%
Money market deposit accounts		3,993,241			20,962		2.08	%			3,136,019			16,783		2.12	%
Certificate accounts		3,929,727			34,407		3.47	%			3,217,199			28,195		3.48	%
Total core deposits		24,742,409			78,374		1.26	%			21,633,483			67,304		1.23	%
Wholesale deposits6		3,257			33		4.15	%			3,649			42		4.48	%
Repurchase agreements		2,087,256			14,624		2.78	%			1,986,620			14,706		2.94	%
FHLB advances		792,290			9,456		4.67	%			1,192,493			14,271		4.68	%
Subordinated debentures and other borrowed funds		270,924			4,201		6.15	%			236,375			3,301		5.54	%
Total funding liabilities		27,896,136			106,688		1.52	%			25,052,620			99,624		1.58	%
Other liabilities		406,289									353,452
Total liabilities		28,302,425									25,406,072
Stockholders’ Equity
Stockholders’ equity		4,185,720									3,581,295
Total liabilities and stockholders’ equity	$	32,488,145								$	28,987,367
Net interest income (tax-equivalent)				$	269,618								$	228,836
Net interest spread (tax-equivalent)							3.48	%								3.28	%
Net interest margin (tax-equivalent)							3.58	%								3.39	%

______________________________

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 December 31, 2025 and September 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 $1.8 million on tax-exempt debt securities income for the three months ended December 31, 2025 and September 30, 2025, respectively.
⁴ Includes interest income of $11.2 million and $6.7 million on average interest-bearing cash balances of $1.1 billion and $600.3 million for the three months ended December 31, 2025 and September 30, 2025, respectively.
⁵ Includes tax effect of $151 thousand and $150 thousand on federal income tax credits for the three months ended December 31, 2025 and September 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
	December 31, 2025									December 31, 2024
(Dollars in thousands)	Average Balance			Interest & Dividends			Average Yield/ Rate			Average Balance			Interest & Dividends			Average Yield/ Rate
Assets
Residential real estate loans	$	2,515,221		$	35,164		5.59	%		$	1,885,146		$	23,960		5.08	%
Commercial loans1		17,061,043			261,088		6.07	%			14,059,864			200,956		5.69	%
Consumer and other loans		1,412,458			26,146		7.34	%			1,324,341			23,435		7.04	%
Total loans2		20,988,722			322,398		6.09	%			17,269,351			248,351		5.72	%
Tax-exempt debt securities3		1,665,176			14,189		3.41	%			1,615,474			14,501		3.59	%
Taxable debt securities4, 5		7,188,543			39,719		2.21	%			7,314,265			38,189		2.09	%
Total earning assets		29,842,441			376,306		5.00	%			26,199,090			301,041		4.57	%
Goodwill and intangibles		1,444,364									1,104,362
Non-earning assets		1,201,340									888,404
Total assets	$	32,488,145								$	28,191,856
Liabilities
Non-interest bearing deposits	$	7,526,159		$	—		—	%		$	6,343,443		$	—		—	%
NOW and DDA accounts		6,118,413			16,991		1.10	%			5,491,451			15,768		1.14	%
Savings accounts		3,174,869			6,014		0.75	%			2,824,126			5,316		0.75	%
Money market deposit accounts		3,993,241			20,962		2.08	%			2,878,415			14,232		1.97	%
Certificate accounts		3,929,727			34,407		3.47	%			3,174,923			31,716		3.97	%
Total core deposits		24,742,409			78,374		1.26	%			20,712,358			67,032		1.29	%
Wholesale deposits6		3,257			33		4.15	%			3,654			47		4.95	%
Repurchase agreements		2,087,256			14,624		2.78	%			1,866,705			14,821		3.16	%
FHLB advances		792,290			9,456		4.67	%			1,800,000			21,848		4.75	%
Subordinated debentures and other borrowed funds		270,924			4,201		6.15	%			216,874			1,845		3.38	%
Total funding liabilities		27,896,136			106,688		1.52	%			24,599,591			105,593		1.71	%
Other liabilities		406,289									369,700
Total liabilities		28,302,425									24,969,291
Stockholders’ Equity
Stockholders’ equity		4,185,720									3,222,565
Total liabilities and stockholders’ equity	$	32,488,145								$	28,191,856
Net interest income (tax-equivalent)				$	269,618								$	195,448
Net interest spread (tax-equivalent)							3.48	%								2.86	%
Net interest margin (tax-equivalent)							3.58	%								2.97	%

______________________________

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 December 31, 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 December 31, 2025 and 2024, respectively.
⁴ Includes interest income of $11.2 million and $9.2 million on average interest-bearing cash balances of $1.1 billion and $759.7 million for the three months ended December 31, 2025 and 2024, respectively.
⁵ Includes tax effect of $151 thousand and $203 thousand on federal income tax credits for the three months ended December 31, 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)
	Year ended
	December 31, 2025									December 31, 2024
(Dollars in thousands)	Average Balance			Interest & Dividends			Average Yield/ Rate			Average Balance			Interest & Dividends			Average Yield/ Rate
Assets
Residential real estate loans	$	2,077,431		$	111,135		5.35	%		$	1,820,057		$	89,596		4.92	%
Commercial loans1		15,355,275			906,309		5.90	%			13,818,805			772,496		5.59	%
Consumer and other loans		1,354,121			97,509		7.20	%			1,305,716			89,160		6.83	%
Total loans2		18,786,827			1,114,953		5.93	%			16,944,578			951,252		5.61	%
Tax-exempt debt securities3		1,612,206			56,192		3.49	%			1,675,732			59,479		3.55	%
Taxable debt securities4, 5		6,833,546			138,547		2.03	%			7,400,887			145,128		1.96	%
Total earning assets		27,232,579			1,309,692		4.81	%			26,021,197			1,155,859		4.44	%
Goodwill and intangibles		1,221,592									1,079,404
Non-earning assets		989,532									773,322
Total assets	$	29,443,703								$	27,873,923
Liabilities
Non-interest bearing deposits	$	6,584,700		$	—		—	%		$	6,144,268		$	—		—	%
NOW and DDA accounts		5,764,971			64,584		1.12	%			5,326,296			63,635		1.19	%
Savings accounts		2,985,007			22,418		0.75	%			2,866,908			22,684		0.79	%
Money market deposit accounts		3,247,640			66,660		2.05	%			2,904,461			58,140		2.00	%
Certificate accounts		3,379,326			120,344		3.56	%			3,106,755			128,081		4.12	%
Total core deposits		21,961,644			274,006		1.25	%			20,348,688			272,540		1.34	%
Wholesale deposits6		4,029			181		4.49	%			3,615			194		5.36	%
Repurchase agreements		1,954,632			57,172		2.92	%			1,676,040			55,723		3.32	%
FHLB advances		1,302,973			62,252		4.71	%			1,498,494			72,620		4.77	%
FRB Bank Term Funding		—			—		—	%			617,377			27,097		4.39	%
Subordinated debentures and other borrowed funds		238,962			13,146		5.50	%			219,839			7,044		3.20	%
Total funding liabilities		25,462,240			406,757		1.60	%			24,364,053			435,218		1.79	%
Other liabilities		356,409									351,825
Total liabilities		25,818,649									24,715,878
Stockholders’ Equity
Stockholders’ equity		3,625,054									3,158,045
Total liabilities and stockholders’ equity	$	29,443,703								$	27,873,923
Net interest income (tax-equivalent)				$	902,935								$	720,641
Net interest spread (tax-equivalent)							3.21	%								2.65	%
Net interest margin (tax-equivalent)							3.32	%								2.77	%

______________________________

¹ Includes tax effect of $6.3 million and $6.5 million on tax-exempt municipal loan and lease income for the Year ended December 31, 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 $7.0 million and $8.6 million on tax-exempt debt securities income for the Year ended December 31, 2025 and 2024, respectively.
⁴ Includes interest income of $28.9 million and $31.2 million on average interest-bearing cash balances of $680.0 million and $594.8 million for the Year ended December 31, 2025 and 2024, respectively.
⁵ Includes tax effect of $602 thousand and $832 thousand on federal income tax credits for the Year ended December 31, 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)	Dec 31, 2025				Sep 30, 2025				Dec 31, 2024				Sep 30, 2025			Dec 31, 2024
Custom and owner occupied construction	$	263,713			$	231,238			$	242,844			14	%		9	%
Pre-sold and spec construction		255,542				217,413				191,926			18	%		33	%
Total residential construction		519,255				448,651				434,770			16	%		19	%
Land development		263,262				197,981				197,369			33	%		33	%
Consumer land or lots		247,769				207,816				187,024			19	%		32	%
Unimproved land		167,796				137,720				113,532			22	%		48	%
Developed lots for operative builders		69,786				56,180				61,661			24	%		13	%
Commercial lots		155,631				99,220				99,243			57	%		57	%
Other construction		1,122,350				982,743				693,461			14	%		62	%
Total land, lot, and other construction		2,026,594				1,681,660				1,352,290			21	%		50	%
Owner occupied		3,950,726				3,570,671				3,197,138			11	%		24	%
Non-owner occupied		4,859,173				4,333,302				4,053,996			12	%		20	%
Total commercial real estate		8,809,899				7,903,973				7,251,134			11	%		21	%
Commercial and industrial		1,649,101				1,554,832				1,395,997			6	%		18	%
Agriculture		1,282,861				1,189,948				1,024,520			8	%		25	%
First lien		3,098,023				2,579,418				2,481,918			20	%		25	%
Junior lien		106,205				81,568				76,303			30	%		39	%
Total 1-4 family		3,204,228				2,660,986				2,558,221			20	%		25	%
Multifamily residential		1,019,484				969,573				895,242			5	%		14	%
Home equity lines of credit		1,076,201				1,056,757				1,005,783			2	%		7	%
Other consumer		237,393				192,501				209,457			23	%		13	%
Total consumer		1,313,594				1,249,258				1,215,240			5	%		8	%
States and political subdivisions		964,591				994,062				983,601			(3)%			(2)%
Other		177,375				180,711				183,894			(2)%			(4)%
Total loans receivable, including loans held for sale		20,966,982				18,833,654				17,294,909			11	%		21	%
Less loans held for sale1		(39,186	)			(42,668	)			(33,060	)		(8)%			19	%
Total loans receivable	$	20,927,796			$	18,790,986			$	17,261,849			11	%		21	%

______________________________

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)	Dec 31, 2025			Sep 30, 2025		Dec 31, 2024		Dec 31, 2025		Dec 31, 2025		Dec 31, 2025
Custom and owner occupied construction	$	183		476		198		183		—		—
Pre-sold and spec construction		919		2,039		2,132		919		—		—
Total residential construction		1,102		2,515		2,330		1,102		—		—
Land development		898		917		966		898		—		—
Consumer land or lots		79		358		78		79		—		—
Developed lots for operative builders		456		456		531		—		456		—
Commercial lots		556		—		47		556		—		—
Other construction		129		—		—		—		—		129
Total land, lot and other construction		2,118		1,731		1,622		1,533		456		129
Owner occupied		3,969		5,237		2,979		3,360		609		—
Non-owner occupied		7,606		691		2,235		7,606		—		—
Total commercial real estate		11,575		5,928		5,214		10,966		609		—
Commercial and Industrial		27,308		24,165		2,069		26,147		1,143		18
Agriculture		3,549		5,408		2,335		2,436		1,113		—
First lien		15,816		8,388		9,053		13,583		2,233		—
Junior lien		1,776		765		315		1,776		—		—
Total 1-4 family		17,592		9,153		9,368		15,359		2,233		—
Multifamily residential		395		1,039		389		395		—		—
Home equity lines of credit		3,968		3,402		3,465		3,600		213		155
Other consumer		1,229		852		955		949		171		109
Total consumer		5,197		4,254		4,420		4,549		384		264
Other		59		119		39		—		59		—
Total	$	68,895		54,312		27,786		62,487		5,997		411

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued)
	Accruing 30-89 Days Delinquent Loans,  by Loan Type									% Change from
(Dollars in thousands)	Dec 31, 2025			Sep 30, 2025			Dec 31, 2024			Sep 30, 2025			Dec 31, 2024
Custom and owner occupied construction	$	533		$	305		$	969		75	%		(45)%
Pre-sold and spec construction		1,189			—			564		n/m			111	%
Total residential construction		1,722			305			1,533		465	%		12	%
Land development		3,994			—			1,450		n/m			175	%
Consumer land or lots		1,162			564			402		106	%		189	%
Unimproved land		—			33			36		(100)%			(100)%
Developed lots for operative builders		2,300			5,265			214		(56)%			975	%
Commercial lots		965			—			—		n/m			n/m
Other construction		4,787			—			—		n/m			n/m
Total land, lot and other construction		13,208			5,862			2,102		125	%		528	%
Owner occupied		6,103			3,809			2,867		60	%		113	%
Non-owner occupied		15,388			7,615			5,037		102	%		205	%
Total commercial real estate		21,491			11,424			7,904		88	%		172	%
Commercial and industrial		10,215			3,711			6,194		175	%		65	%
Agriculture		2,390			2,104			744		14	%		221	%
First lien		19,699			5,357			6,326		268	%		211	%
Junior lien		20			—			214		n/m			(91)%
Total 1-4 family		19,719			5,357			6,540		268	%		202	%
Multifamily Residential		150			150			—		—	%		n/m
Home equity lines of credit		5,415			7,421			3,731		(27)%			45	%
Other consumer		1,866			1,751			1,775		7	%		5	%
Total consumer		7,281			9,172			5,506		(21)%			32	%
Other		2,650			1,439			1,705		84	%		55	%
Total	$	78,826		$	39,524		$	32,228		99	%		145	%

______________________________

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)	Dec 31, 2025				Sep 30, 2025			Dec 31, 2024			Dec 31, 2025		Dec 31, 2025
Pre-sold and spec construction	$	—			—			(4	)		51		51
Land development		(358	)		(358	)		1,095			—		358
Consumer land or lots		(5	)		(5	)		(22	)		—		5
Unimproved land		—			—			1,338			—		—
Developed lots for operative builders		(8	)		—			—			—		8
Commercial lots		—			—			319			—		—
Total land, lot and other construction		(371	)		(363	)		2,730			—		371
Owner occupied		(2	)		(1	)		(73	)		—		2
Non-owner occupied		2,232			(11	)		2			2,243		11
Total commercial real estate		2,230			(12	)		(71	)		2,243		13
Commercial and industrial		2,104			655			1,422			3,056		952
Agriculture		(112	)		(111	)		64			—		112
First lien		(182	)		(158	)		32			1		183
Junior lien		(38	)		(34	)		(65	)		126		164
Total 1-4 family		(220	)		(192	)		(33	)		127		347
Home equity lines of credit		43			(27	)		69			106		63
Other consumer		1,600			1,151			1,078			1,922		322
Total consumer		1,643			1,124			1,147			2,028		385
Other		7,448			5,253			8,643			11,177		3,729
Total	$	12,722			6,354			13,898			18,682		5,960

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FAQ

What did Glacier Bancorp (GBCI) report for Q4 2025 net income and EPS?

Glacier reported $63.8M net income and $0.49 diluted EPS for Q4 2025.

How did Glacier Bancorp's full-year 2025 results compare to 2024 (GBCI)?

Full-year 2025 net income was $239.0M (+26% Y/Y) and diluted EPS was $1.99 (+18% Y/Y).

How much did Glacier Bancorp's loans and deposits grow in 2025 (GBCI)?

Loans increased 21% to $20.928B and deposits increased 20% to $24.591B in 2025.

What acquisitions did Glacier Bancorp complete in 2025 and how large were they (GBCI)?

Glacier completed acquisitions of Bank of Idaho (April 30) and Guaranty (Oct 1), which together added about $4.72B of assets.

Why did Q4 2025 results include extra charges for Glacier Bancorp (GBCI)?

Q4 included acquisition-related items including a $27.2M credit loss expense for Guaranty and $5.8M of acquisition expenses.

What was Glacier Bancorp's net interest margin and yield in Q4 2025 (GBCI)?

Q4 2025 tax-equivalent net interest margin was 3.58%; loan yield was 6.09%.