Glacier Bancorp (NYSE: GBCI) boosts Q1 2026 earnings, margins and liquidity
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Glacier Bancorp, Inc. furnished an investor presentation highlighting its strategy and recent financial performance. For 1Q26, the company reported operating net income of $90.5 million and operating diluted EPS of $0.70, compared with $53.3 million and $0.47 in 1Q25.
Core net interest income rose to $267 million in 1Q26 from $190 million a year earlier, with core net interest margin improving to 3.73% from 2.98%. Total assets reached $31.7 billion, loans were $21.0 billion, and deposits were $24.7 billion as of March 31, 2026.
The presentation emphasizes a geographically diversified community banking model across the Mountain West and Southwest, low-cost core deposits, strong credit quality, and a long history of organic growth and accretive acquisitions. Glacier also reports available liquidity of $16.3 billion and tangible book value per share of $21.29.
Positive
- Strong earnings momentum: 1Q26 operating net income rose to $90.5 million and operating diluted EPS to $0.70, up from $53.3 million and $0.47 in 1Q25, reflecting significantly improved profitability.
- Margin and revenue improvement: Core net interest income reached $267 million in 1Q26 versus $190 million a year earlier, with core net interest margin expanding from 2.98% to 3.73%.
- Robust balance sheet and liquidity: As of March 31, 2026, Glacier reported $31.7 billion in total assets, $24.7 billion in deposits, and $16.3 billion of available liquidity, supporting resilience and growth capacity.
Negative
- None.
Insights
Glacier shows stronger margins, earnings, and liquidity alongside conservative credit.
Glacier Bancorp highlights a notable earnings rebound, with 1Q26 operating net income of $90.5M versus $53.3M in 1Q25 and operating diluted EPS rising to $0.70. Core net interest income increased to $267M, supported by a higher core net interest margin of 3.73%.
Management underscores a diversified loan book, strong credit metrics, and conservative reserves. Net charge-offs and non-performing asset ratios remain low relative to peers, while allowance for credit losses is stable around 1.22% of total loans in late 2025 and early 2026, indicating a cautious risk posture.
The bank also reports total assets of $31.7B and available liquidity of $16.3B at March 31, 2026, including borrowing capacity, securities cashflows, and brokered deposit access. Subsequent disclosures in company filings may provide more detail on how these trends evolve across future quarters.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Operating net income: $90.5M
Operating diluted EPS: $0.70
Core net interest income: $267M
+5 more
8 metrics
Operating net income
$90.5M
1Q26 operating net income versus $53.3M in 1Q25
Operating diluted EPS
$0.70
1Q26 operating diluted EPS versus $0.47 in 1Q25
Core net interest income
$267M
1Q26 core net interest income compared with $190M in 1Q25
Core net interest margin
3.73%
1Q26 core NIM versus 2.98% in 1Q25
Total assets
$31.7B
Total assets as of March 31, 2026
Total deposits
$24.7B
Total deposits as of March 31, 2026
Available liquidity
$16.3B
Available liquidity at March 31, 2026
Tangible book value per share
$21.29
Tangible book value per share as of 3/31/2026
Key Terms
Operating diluted EPS, Core net interest income, Core net interest margin, Efficiency ratio, +2 more
6 terms
Operating diluted EPS financial
"1Q26 operating diluted EPS of $0.70 compared to $0.47 in 1Q25"
Core net interest income financial
"1Q26 Core NII of $267 million compared to $190 million in 1Q25"
Core net interest margin financial
"1Q26 Core NIM of 3.73% compared to 2.98% in 1Q25"
Core net interest margin measures how much a bank or lender earns from its main lending activities, after paying interest to depositors and creditors, expressed as a percentage of the assets that generate interest. Think of it as the profit margin on a store’s main product: higher core NIM means the lender is getting more return from its core business, so it’s a key indicator of sustainable profitability and sensitivity to interest-rate changes for investors.
Efficiency ratio financial
"1Q26 Operating Efficiency Ratio of 59.3% compared to 66.0% in 1Q25"
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
Operating return on tangible equity financial
"Operating Return on Tangible Equity (ROTE) (non-GAAP)"
Non-GAAP financial measures financial
"Certain financial measures and ratios the Company presents are supplemental measures that are not required by GAAP."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________________
FORM 8-K
____________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 2026
____________________________________________________________
(Exact name of registrant as specified in its charter)
____________________________________________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
| (Registrant’s telephone number, including area code) | |||||||||||
____________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 REGULATION FD DISCLOSURE
On May 5, 2026, Glacier Bancorp, Inc. (“Company”), Kalispell, Montana, made an investor presentation which is also posted on its website. The presentation is furnished as Exhibit 99.1 to this report.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
The investor presentation described in Item 7.01 is furnished with this report as Exhibit 99.1.
99.1 Investor Presentation
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: | May 5, 2026 | GLACIER BANCORP, INC. | |||||||||
| /s/ Randall M. Chesler | |||||||||||
| By: | Randall M. Chesler | ||||||||||
| President and Chief Executive Officer | |||||||||||
Investor Presentation May 2026 Glacier National Park, Montana
Forward Looking Statements This presentation contains 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: 1) Risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio; 2) 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; 3) 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; 4) Risks related to overall economic conditions, including the impact on the 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; 5) 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 Iran and Ukraine, further conflicts in the Middle East, and potential for future conflicts or disruptions in other parts of the world; 6) Risks associated with the Company’s ability to negotiate, complete, and successfully integrate acquisitions; 7) Costs or difficulties related to the completion and integration of future or recently completed acquisitions; 8) Impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital; 9) Reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition; 10) Deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company's ability to obtain and maintain customers; 11) 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; 12) 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; 13) Risks related to rapidly evolving artificial intelligence technologies; 14) Risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions; 15) 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; 16) Risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events; 17) Success in managing risks involved in any of the foregoing; and 18) Effects of any reputational damage to the Company resulting from any of the foregoing. 2
A Family of 18 Market-Focused Community Banks Geographically diversified footprint across Mountain West and Southwestern U.S. markets $30B+ balance sheet Best-in-class technology Centralized risk, compliance, and data governance Backed by: 3 Streamlined under 1 banking charter and 1 technology platform
Our Mission Our ongoing mission is to be the premier banking franchise in the Mountain West and Southwest, delivering community bank values with big bank capabilities. We will continue to position the company as the acquirer of choice among community banks, the employer of choice within each of our communities and the bank of choice for all customers. Kalispell, Montana 4
Why Glacier Bancorp Phoenix, Arizona 5 1 Differentiated, scalable community banking platform 2 Attractive footprint in high-growth U.S. markets 3 Strong team of division presidents with deep institutional and local market knowledge 4 High-quality balance sheet anchored by low-cost, stable core deposits and superior credit quality 5 Balanced growth strategy focused on both organic and future M&A 6 Track record of resilient financial performance and shareholder returns
Business Overview Reno, Nevada 6
Glacier Bancorp at a Glance Glacier National Park, Montana 7 18 separately-branded bank divisions across nine states $4.2 billion Shareholder equity $21.0 billion Total Loans $31.7 billion Total Assets $24.7 billion Total Deposits Founded in 1955 282 banking offices $82.1 million Quarterly Net Income $21.29 Tangible Book Value (TBV) per share 1 Differentiated Platform A unique and differentiated community banking platform focused on the Mountain West and Southwest, with significant opportunities for future growth Note: Information as of 3/31/2026
Community Banking, Built for the Future A powerful, local operating model … … backed by Glacier’s scale and unique capabilities Tailored community banking Local decision-making informed by market expertise Better decisions lead to better outcomes A consistent operating framework enables each division to tailor pricing, products, and outreach while maintaining enterprise-wide discipline. Local bankers are empowered to make decisions based on firsthand market knowledge, not distant models or committees. Higher-quality underwriting, stronger customer relationships, and faster execution support superior credit quality and deposit stability. Best-in-class technology Centralized risk, compliance, and data governance Proven operating and integration playbook Modern platforms equip local bankers with the tools, data, and insights of a scaled institution, enabling proactive, timely outreach. Strong enterprise controls support growth, regulatory rigor, and seamless M&A integration. A repeatable model enables Glacier to execute organic growth and disciplined acquisitions across new and existing markets. 8 1 Differentiated Platform
Customers Choose Glacier What Customers Value Most: Local, in-person relationships Decision-makers who understand their business Responsive, experienced teams Modern technology without losing the human touch Competitive pricing and products Their service has been exceptional compared to the “big box” banks we used before. What stands out most is the genuine personalized service you get from an actual community bank. Staff know us by name, not just our accounts. They know our businesses, our operations, and the challenges we face.” – First Bank of Montana customer (Lewistown, MT) I’d much rather be working on growing my business and not worrying about banking issues. Not only does the team at Collegiate Peaks Bank save me a tremendous amount of time, but I know they have my best interests at heart.” – Collegiate Peaks customer (Denver, CO) 9 1 Differentiated Platform
Operating in High-Growth, Resilient Markets Above-average population growth Favorable and diversified economic growth • Operating in regions consistently outpacing U.S. population growth • Utah, Idaho, Texas1 among the fastest-growing states in the country • Population inflows support household formation and small-business creation 3.9% Mountain West2 5.6% Southwest2 ’26 – ’31E Population Growth Compared to 0.3% total U.S. growth3 Economies are diversified across: • Industry diversification supports resilience across economic cycles • Above-average GDP growth across core operating states • Robust job and employment growth Healthcare Professional Services Manufacturing Energy/Agriculture 10 1. University of Virginia, Weldon Cooper Center for Public Service 2. Claritas 3. Congressional Budget Office The Demographic Outlook: 2026 to 2056 2 Attractive Footprint
Strong Local Leadership 11 18 Years average tenure of Division Presidents 33 Years of average industry experience among Division Presidents Our Division Presidents bring deep local market insight and long-standing customer relationships, enabling faster decisions and more tailored solutions that directly benefit the communities we serve. Joining the Glacier Family of Banks was an enormous boost to our bank. It allowed us to have access to the resources of a $30 billion organization, while still providing timely local decision making and personalized service that our customers expect. The partnership has allowed us to grow our business significantly over the last few years.“ – President, Foothills Bank Employer of Choice Strong Outcomes Unparalleled Local Experience Better & Faster Decisions Attract & Retain Talent Experienced Team of Division Presidents with Deep Institutional and Local Market Knowledge 3 Strong Team
Best in Class Core Deposits Interest-Bearing Deposit Costs Well Below Peer Average 0.09% 0.11% 1.22% 1.92% 1.78% 1.81% 1.70% 0.21% 0.58% 2.49% 3.17% 2.73% 2.73% 2021 2022 2023 2024 2025 4Q25 1Q26 Glacier Peers Attractive Value Proposition Granular and Stable Diversified Deposit Base • Convenient, community-based branch network • Low-cost, competitively priced products and solutions • High-quality, relationship-driven service model • Limited reliance on wholesale or concentrated funding • ~755K Retail accounts with $12K average balance • ~186K Commercial accounts with $63K average balance • 46% Retail; 45% Commercial; 9% Public • 75% in rural markets; 25% in metro markets • Balanced funding across industries, geographies, and customer types • Limited reliance on any single depositor or segment Note: Peer based on BHCPR as of 12/31/2025 12 4 High-Quality Balance Sheet
Superior Credit Quality Net Charge Offs as a % of Total Loans Provision for Credit Losses ACL as a % of Total Loans NPAs as a % Total Assets 0.02% 0.05% 0.07% 0.08% 0.06% 0.06% 0.06% 0.11% 0.09% 0.22% 0.28% 0.28% 0.26% 2021 2022 2023 2024 2025 4Q25 1Q26 GBCI Peers $23,076 $14,794 $28,306 $71,400 $19,963 $6,064 2021 2022 2023 2024 2025 2026 Legacy M&A Day 2 13 $ in thousands 1.22% 1.22% 1.22% 1.22% 1.22% 1.28% 1.27% 1.27% 1.24% 1Q25 2Q25 3Q25 4Q25 1Q26 GBCI Peers 0.14% 0.17% 0.19% 0.22% 0.25% 0.56% 0.55% 0.57% 0.55% 1Q25 2Q25 3Q25 4Q25 1Q26 GBCI Peers 4 High-Quality Balance Sheet Note: Peer based on BHCPR as of 12/31/2025
Growth Strategy Grand Teton National Park, Wyoming 14
Downtown Ogden, Utah 15 Acquired Organic Overall $ Growth $10.8bn $9.2bn $20.0bn Growth Contribution 54% 46% Since 2000 Acquired Organic Overall $ Growth $8.4bn $7.3bn $15.7bn Growth Contribution 53% 47% $0.2 $0.1 $0.1 $0.2 $0.5 $0.9 $1.3 $1.7 $2.0 $1.8 $1.5 $1.2 $1.2 $1.4 $1.7 $2.0 $2.6 $3.2 $3.9 $4.3 $5.5 $5.8 $7.6 $8.5 $8.9 $9.4 $0.5 $1.2 $1.2 $1.2 $1.2 $1.5 $1.9 $1.9 $2.0 $2.2 $2.2 $2.2 $2.2 $2.6 $2.7 $3.0 $3.0 $3.3 $4.3 $5.1 $5.6 $7.5 $7.5 $7.5 $8.2 $11.3 0 5 10 15 20 25 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Organic Acquired $0.7 $1.3 $1.3 $1.4 $1.7 $2.4 $3.2 $3.6 $4.1 $4.0 $3.7 $3.4 $3.4 $4.0 $4.4 $5.0 $5.6 $6.5 $8.2 $9.5 $11.1 $13.3 $15.1 $16.0 $17.1 Since 2015 (Ten Years) Total Loans ($ in billions) Source: S&P Global. Financial data as of 12/31/2025. Track Record of Strong Organic Loan Growth and Accretive Acquisitions $20.7
Disciplined and Effective M&A Strategy with 28 Acquisitions Since 2000 16 5 Balanced Growth Strategy Glacier is an acquirer of choice We purchase Good Banks in Good Markets with Good People Seller friendly • Attractive to seller • Strong valuations drives attractive returns Ability to maintain brand and people High degree of certainty that the deal will close GBCI offers a premium currency Successful execution through diverse markets and regulatory environments There is no better merger partner for a community bank than Glacier Bancorp. Glacier preserves local brands, leadership, and decision-making while investing in long-term growth. Since joining Glacier, we’ve doubled our growth and profitability in just two years, and we couldn’t be more pleased with our decision. – CEO, WHEATLAND BANK
Total Population: 46.0M Banks Between $500M – $10B: 194 Total Deposits Excl. Top 42: $821B Total Deposits: $1.6T Total Population: 24.7M Banks Between $500M – $10B: 57 Total Deposits Excl. Top 42: $444B Total Deposits: $703B MT, CO, ID, NV, UT, WA, WY AZ, NM, OK, TX SouthwestMountain West Total Assets of Target Banks S.W. TotalOKTXNMAZM.W. TotalWYUTNVMTIDEastern WA CO 982565622644141111$500MM - $1.0B 79175651262644415$1.0B - $3.5B 172150050301001$3.5B - $10.0B 1944413611357613595217Total Southwest Region Glacier achieving leading market share throughout: 16 Divisions / 228 Locations1 Significant Glacier growth opportunity: 2 Divisions / 54 Locations1 Mountain West Region Southwest Region Business Friendly In-Migration Stable, Growing Economies Business Friendly In-Migration Stable, Growing Economies Significant Runway of Acquisition Opportunities 17 5 Balanced Growth Strategy 1) As of March 31, 2026 2) Excludes BAC, C, JPM, and WFC Note: FDIC deposit data as of June 30, 2025 Note: Target banks table as of December 31, 2025 Source: S&P Capital IQ Pro
Strengthening competitive advantages by expanding relationships and market share Deepen relationships within the existing customer base by continuing to offer high value easily accessible solutions Increase market share in communities already served by leveraging strong local brands, convenient branch locations, and established customer relationships Expand relationship-based commercial and small-business lending as local economies and customers grow Grow stable core deposits by focusing on primary operating accounts rather than rate-driven balances Leverage GBCI’s leading technology and digital capabilities to improve customer acquisition, onboarding, and service efficiency within existing markets Benefit from industry consolidation and win customers from market disruption Missoula, Montana 18 5 Balanced Growth Strategy
Glacier's Business Model Drives Tangible Results Well-respected, high-performing community bank model Low-cost, stable core deposit base Consistent strong credit quality across cycles Durable earnings and margin resilience Strong customer relationships and high levels of repeat business Above-average organic growth within core markets Win customers through market disruption and industry consolidation Disciplined, repeatable M&A execution Sustainable capital returns to shareholders 19 Division Model M&A Strategy Execution & Leadership
Financial Results, Balance Sheet, and Capital Returns Spokane, Washington 20
Non-GAAP Financial Measures Certain financial measures and ratios the Company presents are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). The Company refers to these financial measures and ratios as “non-GAAP financial measures.” A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is provided within this presentation. The Company considers the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain income or intangible items that the Company believes are not indicative of its primary business operating results. These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and investors should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures presented may differ from non-GAAP financial measures used by the Company’s peers or other companies. The Company compensates for these differences by providing the equivalent GAAP measures whenever the Company presents the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance. 21
Proven Profitability: Growing Operating Diluted Earnings Per Share $0.43 $0.48 $0.53 $0.47 $0.57 $0.62 $0.69 $0.70 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Diluted EPS (non-GAAP) 1 22 $ per share 1Q26 operating diluted EPS of $0.70 compared to $0.47 in 1Q25 Operating diluted EPS increased 63% from 2Q24 through 1Q26, reflecting sustained earnings momentum 6 Resilient Financial Performance 1 Supplemental "Non-GAAP Financial Measures and Reconciliations" tables are provided to reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP.
Proven Profitability: Growing Operating Net Income 23 1Q26 operating net income increased $37.2 million compared to 1Q25 Operating Net Income (non-GAAP) 1 $49,016 $54,103 $60,742 $53,341 $67,081 $73,994 $90,398 $90,548 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 $ in thousands 6 Resilient Financial Performance 1 Supplemental "Non-GAAP Financial Measures and Reconciliations" tables are provided to reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP. 1Q26 operating net income increased $41.5 million compared to 2Q24
Core Net Interest Income Growth and Core Margin Lift 1Q26 Core NII of $267 million compared to $190 million in 1Q25, an increase of 41% 1Q26 Core NIM of 3.73% compared to 2.98% in 1Q25, an increase of 75 basis points $167 $181 $192 $190 $209 $226 $264 $267 2.63% 2.79% 2.92% 2.98% 3.18% 3.35% 3.51% 3.73% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 NIM Core Net Interest Income (NII) and Core Margin (NIM) 1 1 Supplemental "Non-GAAP Financial Measures and Reconciliations" tables are provided to reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP. 24 $ in millions 6 Resilient Financial Performance
Operating Efficiency Ratio Improving 1Q26 Operating Efficiency Ratio of 59.3% compared to 66.0% in 1Q25 Operating Efficiency Ratio (non-GAAP) 1 68.0% 64.2% 61.1% 66.0% 61.1% 58.9% 57.9% 59.3% 57.0% 59.0% 61.0% 63.0% 65.0% 67.0% 69.0% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 25 6 Resilient Financial Performance 1 Supplemental "Non-GAAP Financial Measures and Reconciliations" tables are provided to reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP.
0.72% 0.77% 0.86% 0.78% 0.94% 1.01% 1.10% 1.16% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Capital Returns Trending Toward Historic Norms Operating Return on Assets (ROA) (non-GAAP) 1 Operating Return on Tangible Equity (ROTE) (non-GAAP) 1 10.07% 10.67% 11.92% 10.44% 12.16% 12.72% 13.65% 13.74% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 26 6 Resilient Financial Performance 1 Supplemental "Non-GAAP Financial Measures and Reconciliations" tables are provided to reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP.
Proven Track Record of Growing Assets Asset Trends 1Q26 Total Assets of $31.7 billion compared to $27.9 billion in 1Q25 $27,805 $28,206 $27,903 $27,859 $29,010 $29,016 $31,978 $31,734 $26,000 $28,000 $30,000 $32,000 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 27 $ in millions 6 Resilient Financial Performance
Outstanding Liquidity Position is a Source of Strength Available Liquidity of $16.3 Billion at March 31, 2026 $10.7 Billion • $7.7 billion in available borrowing capacity • Federal Reserve: $2.2 billion • FHLB: $5.0 billion • Correspondent banks: $0.5 billion • $1.6 billion of unpledged marketable securities • Cash of $1.4 billion • Access to brokered deposits: $4.8 billion • Over-pledged marketable securities: $0.8 billion Ready access to liquidity totaling $5.6 Billion Additional liquidity totaling 28 6 Resilient Financial Performance
30% 25% 13% 16% 16% 0% Non-Interest Bearing NOW and DDA Savings MMDA CDs Diversified & Granular Deposits Provide Stable Funding Base Deposit Composition as of 3/31/2026 Note: Metro refers to a population of 500,000 or more. 29 Deposit Granularity Composition Mix as of 3/31/2026 6 Resilient Financial Performance Relationship Length • Retail: 755,300 accounts ; average balance = $12,238 • Commercial: 186,171 accounts ; average balance = $63,645 • Weighted average relationship age: 16 years 75% 25% Rural Metro
Diversified Loan Portfolio Reduces Risk Loan Composition as of 3/31/2026 Loan Balance by State as of 3/31/2026 10% 66% 17% 5% 2% Residential Real Estate CRE Other Commerical HELOC Other Consumer 28% 14% 13% 8% 7% 8% 8% 4% 10% Montana Idaho Utah Washington Wyoming Colorado Arizona Nevada Texas 30 6 Resilient Financial Performance
High-Quality CRE Portfolio Diversified and Low Risk Portfolio Total CRE by Occupancy Type as of 3/31/2026 CRE Balance by State as of 3/31/2026 • Owner occupied: $3.9 billion (19% of loan portfolio) • Non-owner occupied: $5.1 billion (24% of loan portfolio) • Small average loan balance spread over a wide geographic diversification • $943 thousand average loan balance • Geographically dispersed across 9 states • 57% average LTV • 0.36% past due rate • 0.24% non-performing • 98% of loans have recourse through guaranties 31Note: Loans are based on regulatory classification, which is based primarily on the type of collateral for the loans. CRE loans may differ when comparing to disclosures in the Company’s quarterly and annual reports filed with the SEC which are based on the purpose of the loan. 6 Resilient Financial Performance 20% 15% 15%7% 6% 9% 11% 7% 10% Montana Idaho Utah Washington Wyoming Colorado Arizona Nevada Texas 44% 56% Owner Occupied Non-Owner Occupied
High-Quality Investment Securities Portfolio Generates Significant Cashflow Investment Portfolio Trends 32 $7,434 $7,231 $7,072 $7,118 $6,644 $6,600 $6,800 $7,000 $7,200 $7,400 $7,600 1Q25 2Q25 3Q25 4Q25 1Q26 17% 2% 26% 40% 15% US Gov't & Federal Agency US Gov't Sponsored Enterprises State & Local Gov'ts Residential MBS Commercial MBS $ in millions $1.7 billion of cashflow expected in 2026 6 Resilient Financial Performance Composition as of 3/31/2026
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20 $1.30 Balanced Capital Allocation Strategy Dividend History 33 Core Focus Areas: M&A Shareholder Returns via Dividends Organic Growth The Company has declared 164 consecutive quarterly dividends $ per share 6 Resilient Financial Performance
Non-GAAP Financial Measures and Reconciliations . 34 2Q243Q244Q241Q252Q253Q254Q251Q26(Dollars in thousands) 44,70851,05561,75454,56852,78167,90063,779$ 82,144Net Income Operating adjustments (826)18(238)14190(104)(693)(42)Loan interest (recovery) reversal 11(26)------(Gain) loss on securities --(1)(1,114)-(251)(1,601)(776)BOLI proceeds -(1,200)------Individual OREO sale 6583433752515446412,9462,775Acquisition-related compensation ------1,101200Lease terminations (465)--(219)--(827)(87)FDIC special assessment (1,503)(586)(1,975)(1,010)(1,612)9281,918445Loss (gain) on fixed assets 6,0883,601--16,693-27,2470Acquisition ACL expense 1,7831,9164915873,2316,9755,8028,907Acquisition-related expense (1,438)(1,018)336264(4,746)(2,095)(9,274)(3,018)Tax impact 4,3083,048(1,012)(1,227)14,3006,09426,6198,404Net operating adjustments 49,01654,10360,74253,34167,08173,99490,398$ 90,548Operating net income (non-GAAP) Earnings Per Share 113,405,491113,473,107113,541,026113,546,365116,890,776118,628,434130,145,104130,242,765Weighted average diluted common shares outstanding $0.39$0.45$0.54$0.48$0.45$0.57$0.49$0.63Diluted earnings per share $0.43$0.48$0.53$0.47$0.57$0.62$0.69$0.70Operating diluted EPS (non-GAAP)
Non-GAAP Financial Measures and Reconciliations – continued . 35 2Q243Q244Q241Q252Q253Q254Q251Q26(Dollars in thousands) Core Net Interest Margin 170,497184,225195,449193,400211,081228,835269,618$ 272,383Net interest income (tax equivalent) (2,299)(2,964)(2,976)(3,361)(2,103)(2,310)(4,628)(5,140)Purchase accounting (826)18(238)14190(104)(693)(42)Non-accrual loan (recovery) reversal 167,373181,280192,235190,053209,169226,421264,297$ 267,201Core net interest income (tax equivalent) (non-GAAP) 25,577,98325,866,12126,199,09025,830,80726,401,63626,815,92729,842,441$29,078,665Average earning assets 2.68%2.83%2.97%3.04%3.21%3.39%3.58%3.80%Net interest margin 2.63%2.79%2.92%2.98%3.18%3. 35%3.51%3.73%Core net interest margin (non-GAAP) Return on Assets 27,400,72427,795,63228,191,86127,779,46328,473,10928,987,36732,488,145$31,763,040Total average assets 49,01654,10360,74253,34167,08173,99490,398$ 90,548Operating net income (non-GAAP) 0.66%0.73%0.87%0.80%0.74%0.93%0.78%1.05%Return on assets 0.72%0.77%0.86%0.78%0.94%1.01%1.10%1.16%Operating return on assets (non-GAAP)
Non-GAAP Financial Measures and Reconciliations – continued . 36 2Q243Q244Q241Q252Q253Q254Q251Q26(Dollars in thousands) Return on Tangible Equity 3,117,2753,204,2033,222,5653,267,4443,456,1493,581,2954,185,720$ 4,261,081Total average stockholders’ equity (1,068,250)(1,092,632)(1,104,362)(1,100,801)(1,153,466)(1,184,370)(1,444,364)(1,481,187)Less: goodwill and intangible asset, net 2,049,0252,111,5712,118,2032,166,6432,302,6832,396,9252,741,356$ 2,779,894Tangible stockholders’ equity (non-GAAP) 49,01654,10360,74253,34167,08173,99490,398$ 90,548Operating net income (non-GAAP) 2,2622,5292,7252,4602,7252,8683,9193,619Intangible amortization, net of tax 51,27856,63263,46755,80169,80676,86294,317$ 94,167Tangible operating net income (non-GAAP) 9.22%10.09%12.11%10.67%9.67%11.71%9.80%12.51%Return on tangible equity 10.07%10.67%11.92%10.44%12.16%12.72%13.65%13.74%Operating return on tangible equity (non-GAAP)
Non-GAAP Financial Measures and Reconciliations – continued 37 2Q243Q244Q241Q252Q253Q254Q251Q26(Dollars in thousands) Efficiency Ratio 140,952144,708140,965151,318155,119167,783194,557$ 200,529Non-interest expense (142)(1)(13)(18)(13)(65)(134)(16)OREO expense (3,017)(3,367)(3,613)(3,270)(3,624)(3,813)(5,180)(4,799)Intangible amortization 137,793141,340137,339148,030151,482163,905189,243$ 195,714Total expenses (473)(1,674)1,109391(2,163)(8,545)(10,941)(12,240)Operating expense adjustments (pre-tax) 1 137,320139,666138,448148,421149,319155,360178,302$ 183,474Total operating non-interest expense (non- GAAP) 170,498184,226195,448193,400211,081228,835269,618$ 272,383NII (tax equivalent) 32,20434,70431,54932,64232,94435,35240,44738,082Non-interest income 12(26)------Gain loss on sale of securities -(1,200)(1)--(35)(39)(35)OREO income 202,714217,704226,996226,042244,025264,152310,026$ 310,430Total revenues (826)18(240)(1,100)190(355)(2,294)(818)Operating revenue adjustments (pre-tax) 1 201,888217,722226,756224,942244,215263,797307,732$ 309,612Total revenues (non-GAAP) 67.97%64.92%60.50%65.49%62.08%62.05%61.04%63.05%Efficiency ratio 68.02%64.15%61.06%65.98%61.14%58.89%57.94%59.26%Efficiency ratio (non-GAAP) 1 Operating adjustments are pre-tax adjustments that are reported in operating net income non-GAAP, and excludes acquisition ACL expense adjustment.
38 Glacier National Park, Montana
FAQ
What did Glacier Bancorp (GBCI) report for 1Q26 operating earnings?
Glacier Bancorp reported 1Q26 operating net income of about $90.5 million and operating diluted EPS of $0.70. This compares with approximately $53.3 million of operating net income and $0.47 of operating diluted EPS in 1Q25, indicating significantly stronger profitability.
How did Glacier Bancorp’s (GBCI) net interest income and margin change?
For 1Q26, Glacier Bancorp’s core net interest income was about $267 million, up from $190 million in 1Q25. Core net interest margin improved to roughly 3.73% from 2.98%, showing better spread earnings on its earning assets during the period.
What are Glacier Bancorp’s (GBCI) key balance sheet totals as of March 31, 2026?
As of March 31, 2026, Glacier Bancorp reported $31.7 billion in total assets, $21.0 billion in total loans, and $24.7 billion in total deposits. These figures reflect the company’s sizable regional banking footprint across the Mountain West and Southwest.
How strong is Glacier Bancorp’s (GBCI) liquidity position?
Glacier Bancorp reported available liquidity of about $16.3 billion at March 31, 2026. This includes borrowing capacity, unpledged marketable securities, cash, brokered deposit access, and over-pledged securities, providing flexibility to support funding needs and manage potential market stress.
What efficiency and return metrics did Glacier Bancorp (GBCI) highlight?
For 1Q26, Glacier Bancorp reported an operating efficiency ratio of about 59.3%, improved from 66.0% in 1Q25. Operating return on assets reached roughly 1.16%, while operating return on tangible equity was around 13.74%, reflecting better cost control and returns.
How does Glacier Bancorp (GBCI) describe its growth strategy?
Glacier Bancorp emphasizes a balanced growth strategy combining organic expansion and accretive acquisitions. The bank operates 18 separately branded divisions across nine states and highlights a long record of loan growth, disciplined M&A, and focus on low-cost, relationship-based core deposits.