UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________ FORM 10-Q ____________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 00 ...

KALISPELL, Mont., May 01, 2025 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (“Glacier”) (NYSE: GBCI), today announced the completion of its acquisition of Bank of Idaho Holding Co. (“BOID”) (OTCQX: BOID), the bank holding company for Bank of Idaho, a community bank headquartered in Idaho Falls, Idaho. The Bank of Idaho operations will join three existing Glacier Bank divisions: the Eastern Idaho operations of Bank of Idaho will join Citizens Community Bank, the Boise operations will join Mountain West Bank, an ...

Financial Data and Key Metrics Changes - Diluted earnings per share for the current quarter was $0.48, an increase of 66% from the prior year first quarter [5] - Net income was $54.6 million for the current quarter, an increase of $21.9 million or 67% from the prior year first quarter [5] - The net interest margin for the current quarter was 3.04%, an increase of seven basis points from the prior quarter and an increase of 45 basis points from the prior year first quarter [5][6] - Total deposits of $20.6 billion increased by $87.1 million or 2% annualized during the current quarter [7] - Total loans of $17 billion decreased by $48 million from the prior quarter due to accelerated payoffs [7] - Noninterest income ended the quarter at $33 million, which increased 9% versus the first quarter a year ago [9] - Tangible stockholders' equity of $2.2 billion at the end of the quarter increased $67 million or 3% compared to the prior quarter [11] Business Line Data and Key Metrics Changes - The margin has increased for five consecutive quarters, with expectations for continued growth throughout the year [6] - The total cost of funding, including noninterest-bearing deposits, was 1.68% in the current quarter, decreasing three basis points from the prior quarter [6] - The loan yield of 5.77% in the current quarter increased five basis points from the prior quarter and increased 31 basis points from the prior year first quarter [6] Market Data and Key Metrics Changes - Customers acknowledge uncertainty in the economy but have not indicated plans to pull back on projects [8] - The credit portfolio continues to perform at near record levels, with an allowance for credit loss increased to 1.22% of total loans from 1.19% last quarter [10] Company Strategy and Development Direction - The company is strategically expanding its presence through acquisitions, including the proposed acquisition of Bank of Idaho, which is expected to close at the end of the month [13][14] - The company has demonstrated the ability to find good banks and markets to partner with, regardless of the broader M&A environment [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the future despite current economic uncertainties and does not expect material credit deterioration [10] - The company expects to maintain a core noninterest expense guide of $151 to $152 million per quarter for the remainder of 2025 [31] Other Important Information - The company declared a quarterly dividend of 33¢ per share, marking 60 consecutive quarterly dividends [12] - The company is maintaining a strong pipeline for loan growth, with expectations for low to mid single-digit growth for the year [78] Q&A Session Summary Question: Margin discussion and structural margin progression - Management confirmed that structural drivers for margin growth are still in place, with expectations for continued growth throughout the year [20][24] Question: Bank of Idaho deal and expected margin contribution - The Bank of Idaho is expected to contribute four basis points of margin lift to the organization [26] Question: Expense guidance and performance-based compensation - Core noninterest expense guidance for 2025 is reiterated at $151 to $154 million per quarter, with adjustments for the Bank of Idaho acquisition [28][33] Question: M&A discussions in Southwest markets - Management confirmed ongoing conversations in the Southwest and Mountain West regions, with a focus on finding the right partners [36][38] Question: Spot rate on deposits and average margin - The spot rate at March 31 was 1.24%, and the margin for March was 3.05% [44] Question: Nonaccruals and credit issues - Nonaccruals were centered in one relationship, with no expected loss [46] Question: Impact of tariffs on construction activity - Customers are managing costs effectively, and there is no significant distress reported [49][50] Question: FHLB borrowings and balance sheet expectations - Management provided details on FHLB borrowings maturing throughout the year and expectations for using cash flow to pay down borrowings [59][60] Question: Competitive landscape and loan yields - The company maintains good spreads on production and has not seen irrational underwriting practices [100][101]

Glacier Bancorp, Inc. (NYSE:GBCI) Q1 2025 Earnings Conference Call April 25, 2025 11:00 AM ET Company Participants Randall Chesler - President and Chief Executive Officer Byron Pollan - Treasurer Ron Copher - Chief Financial Officer Tom Dolan - Chief Credit Administrator Conference Call Participants Jeffrey Rulis - D.A. Davidson & Co. Matthew Clark - Piper Sandler & Co. Andrew Terrell - Stephens Inc. Kelly Motta - Keefe, Bruyette, & Woods, Inc. Timothy Coffey - Janney Montgomery Scott David Feaster - Raymon ...

Group 1: Earnings Performance - Glacier Bancorp reported quarterly earnings of $0.48 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.29 per share a year ago [1] - The company had a surprise of 1.89% in the previous quarter, posting earnings of $0.54 per share against an expected $0.53 [1] - Over the last four quarters, Glacier Bancorp has surpassed consensus EPS estimates three times [1] Group 2: Revenue Performance - The company posted revenues of $222.62 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.21%, but up from $196.47 million year-over-year [2] - Glacier Bancorp has topped consensus revenue estimates two times over the last four quarters [2] Group 3: Stock Performance and Outlook - Glacier Bancorp shares have declined approximately 16.7% since the beginning of the year, compared to a decline of 8.6% for the S&P 500 [3] - The company's earnings outlook is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market [6] - The current consensus EPS estimate for the coming quarter is $0.48 on revenues of $242.7 million, and for the current fiscal year, it is $2.31 on $1 billion in revenues [7] Group 4: Industry Context - The Zacks Industry Rank for Banks - West is currently in the bottom 42% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

NEWS RELEASE April 24, 2025 FOR IMMEDIATE RELEASE CONTACT: Randall M. Chesler, CEO (406) 751-4722 Ron J. Copher, CFO (406) 751-7706 GLACIER BANCORP, INC. ANNOUNCES RESULTS FOR THE QUARTER AND PERIOD ENDED MARCH 31, 2025 1st Quarter 2025 Highlights: 1 • Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of ...

1st Quarter 2025 Highlights: Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of $0.29 per share.Net income was $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent, from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the p ...

1st Quarter 2025 Highlights: Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of $0.29 per share.Net income was $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent, from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the p ...

Core Insights - Glacier Bancorp (GBCI) is expected to report quarterly earnings of $0.48 per share, a 65.5% increase year-over-year, with revenues projected at $225.35 million, reflecting a 14.7% increase [1] Earnings Projections - The consensus EPS estimate has remained unchanged over the past 30 days, indicating analysts' reassessment of their initial projections [1][2] - Revisions to earnings projections are crucial for predicting investor behavior and stock price performance [2] Key Metrics Forecast - Analysts predict an 'Efficiency Ratio' of 67.1%, down from 74.4% in the same quarter last year [4] - 'Non-accrual loans' are expected to reach $24.16 million, up from $20.74 million year-over-year [4] - 'Total non-performing assets' are forecasted at $32.01 million, compared to $25.43 million a year ago [4] Financial Performance Indicators - 'Average Balances - Total earning assets' are projected at $25.91 billion, down from $26.44 billion in the same quarter last year [5] - 'Total Non-Interest Income' is expected to be $32.47 million, an increase from $29.99 million year-over-year [5] - 'Net Interest Income' is forecasted at $192.36 million, up from $166.48 million in the same quarter last year [6] - 'Net interest income (tax-equivalent)' is projected at $194.79 million, compared to $170.47 million a year ago [7] Stock Performance - Over the past month, shares of Glacier Bancorp have declined by 14%, while the Zacks S&P 500 composite has decreased by 8.9% [7] - GBCI currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [7]

Core Viewpoint - Glacier Bancorp, Inc. has received all necessary regulatory approvals for its acquisition of Bank of Idaho Holding Co. and its bank subsidiary, Bank of Idaho, with the transaction expected to close on April 30, 2025, pending shareholder approval on April 21, 2025 [1] Company Overview - Glacier Bancorp, Inc. is the parent company of Glacier Bank and operates multiple bank divisions across various states, including Altabank, Bank of the San Juans, Citizens Community Bank, and others [2] Regulatory and Transaction Details - The acquisition of Bank of Idaho Holding Co. involves a merger agreement that requires the approval of BOID shareholders, which is scheduled for a special meeting on April 21, 2025 [1] - A Registration Statement on Form S-4 has been filed with the SEC, which includes a Proxy Statement of BOID and a Prospectus of Glacier, providing important information regarding the proposed merger [5]