Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended September 30, 2025

Rhea-AI Summary

Glacier Bancorp (NYSE: GBCI) reported Q3 2025 net income of $67.9M, up 29% quarter-over-quarter and 33% year-over-year, with diluted EPS $0.57 (+27% vs prior quarter and prior year). Net interest income was $225M (+9% QoQ, +25% YoY) and the tax-equivalent net interest margin was 3.39% (up 18 bps QoQ, 56 bps YoY). Loans totaled $18.791B and deposits $21.871B at September 30, 2025. The company declared a quarterly dividend of $0.33 per share and completed the Bank of Idaho core conversion after the April 30, 2025 acquisition; the Guaranty Bancshares acquisition closed October 1, 2025.

Positive

• Net income +29% QoQ to $67.9M
• Diluted EPS $0.57, +27% QoQ/YoY
• Net interest income $225M, +25% YoY
• NIM 3.39%, +56 bps YoY

Negative

• Non-performing assets $54.3M, +93% YoY
• Total debt securities down $713M YoY to $7.072B
• Acquisition-related expenses $7.0M in the quarter

Insights

Banking Financial Analyst

Strong quarter: higher earnings, margins, and loan growth driven by acquisitions and organic expansion.

Glacier Bancorp reported net income of $67.9 million for the quarter ended September 30, 2025, up 29% sequentially and 33% year-over-year. Diluted EPS rose to $0.57, a 27% increase versus prior quarter and prior year. Net interest income improved to $225 million, and the tax-equivalent net interest margin expanded to 3.39%, up 18bps sequentially and 56bps year-over-year. Loan balances reached $18.791 billion, up 6% annualized from the prior quarter, while deposits totaled $21.871 billion.

The results combine organic growth and acquisitions: the BOID acquisition (acq. date April 30, 2025) and the closed Guaranty acquisition on October 1, 2025 added scale. The quarter included $7.0 million of acquisition-related expenses. Credit metrics remain reasonable: the ACL was 1.22% of loans and non-performing assets were 0.19% of subsidiary assets, though NPAs rose versus year-ago levels. Watch provisions and non-performing assets in the next 1-2 quarters as acquisition portfolios fully integrate and as higher loan growth reflects underwriting mix.

Key concrete items to monitor include the integration of Guaranty in Texas and BOID conversion impacts on expenses and credit; quarterly provision levels and ACL coverage relative to non-performing loans; and net interest margin sustainability given funding costs. Near-term horizon: expect material updates over the next two quarterly reports as acquisition-related costs, loan mix, and credit trends clarify.

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 sale1		(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

Visit our website at www.glacierbancorp.com

FAQ

What were Glacier Bancorp (GBCI) Q3 2025 net income and EPS?

Q3 2025 net income was $67.9M and diluted EPS was $0.57.

How did Glacier Bancorp's net interest income and margin perform in Q3 2025?

Net interest income was $225M and tax-equivalent NIM was 3.39% in Q3 2025.

What were Glacier Bancorp's loan and deposit balances at September 30, 2025?

Loans were $18.791B and total deposits were $21.871B at September 30, 2025.

Did Glacier Bancorp pay a dividend in Q3 2025 and how much?

Yes. The company declared a quarterly dividend of $0.33 per share.

What acquisitions did Glacier Bancorp complete in 2025 and when?

Glacier completed the Bank of Idaho acquisition (April 30, 2025 core conversion in Q3) and closed the Guaranty Bancshares acquisition on October 1, 2025.

Are there any credit-quality or portfolio concerns from Glacier Bancorp's Q3 2025 report?

Non-performing assets increased to $54.3M (+93% YoY) and the company recorded acquisition-related credit loss expense in the quarter.