Financial Performance - Net income for the three months ended September 30, 2025, was $67.90 million, up 32.9% from $51.06 million in the same period of 2024[10]. - Basic earnings per share for the three months ended September 30, 2025, was $0.57, up from $0.45 in the same period of 2024, reflecting a growth of 27%[10]. - Net income for the nine months ended September 30, 2025, was $175,249 thousand, an increase of 36.5% compared to $128,390 thousand for the same period in 2024[20]. - Total comprehensive income for the nine months ended September 30, 2025, was $291.66 million, compared to $240.20 million in the same period of 2024, representing an increase of 21.4%[14]. - Total non-interest income for the nine months ended September 30, 2025, was $100.94 million, an increase of 4.2% from $96.90 million in the same period of 2024[10]. Assets and Liabilities - Total assets increased to $29.02 billion as of September 30, 2025, compared to $27.90 billion at December 31, 2024, representing a growth of 4.0%[9]. - Total liabilities increased to $25.41 billion as of September 30, 2025, from $24.68 billion at December 31, 2024, reflecting a growth of 2.9%[9]. - Total stockholders' equity increased to $3,608,288 thousand as of September 30, 2025, up from $3,245,050 thousand as of September 30, 2024, representing a growth of 11.2%[18]. Credit Losses and Provisions - The allowance for credit losses increased to $229.08 million as of September 30, 2025, compared to $206.04 million at December 31, 2024, indicating a rise of 11.2%[9]. - The provision for credit losses for the nine months ended September 30, 2025, was $35,737 thousand, compared to $19,772 thousand for the same period in 2024, indicating an increase of 80.8%[20]. - The allowance for credit losses for off-balance sheet credit exposures was $26,800,000 as of September 30, 2025, up from $20,419,000 at December 31, 2024, indicating a growth of about 31%[72]. Loans and Deposits - As of September 30, 2025, total loans receivable amounted to $18,790,986,000, an increase from $17,261,849,000 in the previous year, representing a growth of approximately 8.9%[121]. - The net increase in deposits for the nine months ended September 30, 2025, was $245,924 thousand, a turnaround from a decrease of $227,255 thousand in the same period of 2024[21]. - The company’s residential real estate loans increased to $1,926,448,000 from $1,858,929,000, reflecting a growth of about 3.6%[121]. Acquisitions - The Company completed its acquisition of Bank of Idaho Holding Co. on April 30, 2025, with results included in consolidated financial statements from the acquisition date[30]. - The Company acquired Bank of Idaho Holding Co. for a total fair value of consideration transferred amounting to $204,988,000, which included 5,029,102 shares of common stock and $2,000 in cash[192]. - The Company completed the acquisition of Guaranty Bancshares, Inc. for a preliminary value of $559,978,000, issuing 11,375,648 shares of common stock to former Guaranty shareholders[199]. Interest Income and Expenses - Net interest income after provision for credit losses rose to $217.72 million for the three months ended September 30, 2025, compared to $172.23 million in the prior year, reflecting a year-over-year increase of 26.4%[10]. - The Company’s interest income on investment securities for the nine months ended September 30, 2025, was $22,148,000, compared to $7,776,000 for the same period in 2024, representing an increase of 184%[159]. - Total other expenses for the nine months ended September 30, 2025, were $82,984,000, compared to $78,947,000 for the same period in 2024, reflecting an increase of 5.8%[161]. Fair Value Measurements - Total assets measured at fair value on a recurring basis as of September 30, 2025, amounted to $3.96 billion, with no transfers between fair value hierarchy levels during the nine-month periods ended September 30, 2025, and 2024[176][166]. - The fair value of available-for-sale debt securities as of September 30, 2025, included $2.1 billion in residential mortgage-backed securities and $979.2 million in commercial mortgage-backed securities[176]. Other Comprehensive Income - The balance of accumulated other comprehensive losses decreased from $(377.7) million at January 1, 2024, to $(263.7) million at September 30, 2024[11]. - The company reported a net current period other comprehensive income of $111.8 million for the three months ended September 30, 2024[11].

Core Insights - Glacier Bancorp, Inc. (NYSE: GBCI) experienced a significant decline in stock price around the time of its third quarter earnings release, with a 2% drop on October 15, the day before the earnings announcement, followed by a 6% decrease on the earnings release day [1] Summary by Category Stock Performance - The stock price of Glacier Bancorp, Inc. fell by 2% on October 15, indicating market anticipation or concern prior to the earnings release [1] - Following the earnings release, the stock further declined by 6%, suggesting a negative market reaction to the reported results [1]

Core Viewpoint - Glacier Bancorp, Inc.'s stock experienced a significant decline around the time of its third quarter earnings release, indicating potential investor concerns or market reactions to the earnings report [1]. Stock Performance - The stock price fell by 2% on October 15, the day before the earnings release, and further dropped by 6% on the day of the earnings report [1].

Financial Data and Key Metrics Changes - Glacier Bancorp reported net income of $67.9 million or $0.57 per diluted share, representing a 29% increase from the prior quarter and a 33% increase year-over-year [3][4] - Pre-tax, pre-provision net revenues for the first nine months increased by $77.1 million or 45% compared to the same period last year [4] - Net interest income reached $225 million, up $18 million or 9% from the prior quarter and up $45 million or 25% year-over-year [4][6] - Non-interest expense was $168 million, up $13 million or 8% from the second quarter, primarily due to acquisition-related costs [6] Business Line Data and Key Metrics Changes - The loan portfolio grew by $258 million to $18.8 billion, reflecting a 6% annualized growth from the prior quarter, with commercial real estate being a key driver [4][5] - Deposits increased to $22 billion, up 4% annualized from the last quarter, with non-interest-bearing deposits growing by 5% [4][5] - Non-interest income totaled $35 million, up $2.4 million or 7% from the prior quarter [6] Market Data and Key Metrics Changes - The net interest margin on a tax-adjusted basis expanded to 3.39%, up 18 basis points from the prior quarter and up 56 basis points year-over-year [4][5] - The loan yield for the current quarter was 5.97%, an increase of 11 basis points from the prior quarter and 28 basis points from the same quarter last year [5] Company Strategy and Development Direction - The company completed the core conversion of the Bank of Idaho and closed the acquisition of Guaranty Bank and Trust, adding $3.1 billion in assets and expanding its presence in Texas [2][3] - The focus is on delivering a flawless conversion of Guaranty in Q1 2026 while ensuring employee and customer satisfaction [3][14] - The company aims to maintain a strong capital position and has declared its 162nd consecutive quarterly dividend of $0.33 per share [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued margin growth, anticipating an additional 18 to 20 basis points increase in Q4 [11][12] - The competitive landscape is described as geographic-specific, with more pricing competition in larger markets but stable conditions in areas with strong market share [20] - Credit quality remains strong, with non-performing assets at 0.19% of total assets and net charge-offs at $2.9 million for the quarter [6] Other Important Information - The tangible book value per share increased to $20.46, up 8% year-over-year [7] - The company maintains a conservative approach to risk management, with an allowance for credit at 1.22% of total loans [6] Q&A Session Summary Question: Margin outlook in light of recent rate cuts - Management expects continued margin growth, projecting an increase of 18 to 20 basis points in Q4, but anticipates moderation in the pace of growth for 2026 [11][12] Question: Reception in the Texas market and future partnerships - The Guaranty acquisition is seen as a strong cultural fit, and management is optimistic about future partnerships once the conversion is complete [14] Question: Loan growth and competitive landscape - Loan growth remains solid, with consistent demand and a stable pipeline, although competition is noted in larger markets [20] Question: Credit quality and industry pressures - Credit quality is strong, with no significant risks identified outside of the agricultural sector, which is experiencing some pressures [21] Question: Future M&A strategy - Management does not prioritize one market over another but sees opportunities across the entire area, focusing first on successful integration of Guaranty [42] Question: Deposit costs and beta expectations - The spot deposit cost was 1.22%, with expectations for a beta of 15% to 20% going forward [29] Question: Expense guidance and cost savings - Core non-interest expense is projected to increase due to acquisitions, with expectations for cost savings to begin post-conversion in 2026 [39]

Financial Data and Key Metrics Changes - Glacier Bancorp reported net income of $67.9 million or $0.57 per diluted share, representing a 29% increase from the prior quarter and a 33% increase year-over-year [4][5] - Pretax pre-provision net revenues for the first nine months of the year increased by $77.1 million or 45% compared to the same period last year [5] - Net interest income rose to $225 million, up $18 million or 9% from the prior quarter and up $45 million or 25% year-over-year [6] - The net interest margin expanded to 3.39%, an increase of 18 basis points from the prior quarter and 56 basis points year-over-year [6][10] - Non-interest expense was $168 million, up $13 million or 8% from the second quarter, primarily due to acquisition-related costs [7] Business Line Data and Key Metrics Changes - The loan portfolio grew by $258 million to $18.8 billion, reflecting a 6% annualized growth from the prior quarter, with commercial real estate being a key driver [5] - Deposits increased to $22 billion, up 4% annualized from the last quarter, with non-interest bearing deposits growing by 5% [5][6] - Non-interest income totaled $35 million, up $2.4 million or 7% from the prior quarter [7] Market Data and Key Metrics Changes - The company successfully completed the core conversion of the Bank of Idaho, which had assets of approximately $1.4 billion, and closed the acquisition of Guaranteed Bank and Trust, adding $3.1 billion in assets [3][4] Company Strategy and Development Direction - The company is focused on delivering a flawless conversion of the Guaranty acquisition in 2026 and ensuring employee and customer satisfaction [4] - Management expressed optimism about future growth opportunities in Texas following the acquisition of Guaranty Bank and Trust [4][21] Management's Comments on Operating Environment and Future Outlook - Management noted strong margin expansion and loan growth, with expectations for continued growth in net interest margin into the fourth quarter [6][16] - The company anticipates a moderation in the pace of margin growth in 2026, influenced by factors such as loan and deposit growth and Federal Reserve actions [16][60] Other Important Information - The efficiency ratio remained at 62%, down from 65% a year ago, indicating improved operational efficiency [7] - The allowance for credit losses remains at 1.22% of total loans, reflecting a conservative risk management approach [8] Q&A Session Summary Question: Insights on margin expansion and future guidance - Management indicated continued improvement in margin, expecting an additional 18 to 20 basis points growth in Q4, influenced by the Guaranty acquisition [15][16] Question: Reception in the Texas market and future partnerships - Management reported a strong cultural fit with Guaranty and indicated ongoing conversations for potential partnerships in Texas [21][22] Question: Loan growth trends and competitive landscape - Management noted consistent loan demand and a competitive landscape that varies by geography, with pricing competition more pronounced in larger markets [30][33] Question: Credit quality and industry pressures - Management highlighted strong credit quality, with no significant risks outside of the agricultural sector, which is experiencing some pressures [35][36] Question: Future M&A strategy and focus areas - Management stated that they do not prioritize one market over another and will focus on successful integration before pursuing further acquisitions [64][65]

Core Insights - Glacier Bancorp reported a revenue of $260.73 million for the quarter ended September 2025, reflecting a year-over-year increase of 21.3% and a surprise of +1.43% over the Zacks Consensus Estimate of $257.05 million [1] - The earnings per share (EPS) for the quarter was $0.62, compared to $0.45 in the same quarter last year, with an EPS surprise of +1.64% against the consensus estimate of $0.61 [1] Financial Performance Metrics - Efficiency Ratio stood at 62.1%, slightly above the average estimate of 61.4% based on three analysts [4] - Net interest margin (tax-equivalent) was reported at 3.4%, matching the average estimate of 3.4% [4] - Net charge-offs as a percentage of total loans were 0%, better than the average estimate of 0.1% [4] - Non-accrual loans amounted to $45.45 million, exceeding the average estimate of $39.57 million [4] - Total non-performing assets reached $54.31 million, higher than the average estimate of $47.99 million [4] - Average balances of total earning assets were $26.82 billion, slightly below the average estimate of $26.86 billion [4] - Total non-interest income was $35.35 million, surpassing the average estimate of $34.36 million [4] - Net interest income was reported at $225.38 million, exceeding the average estimate of $222.42 million [4] - Gain on sale of loans was $5.03 million, slightly below the average estimate of $5.16 million [4] - Net interest income (tax-equivalent) was $228.84 million, above the average estimate of $227.81 million [4] Stock Performance - Shares of Glacier Bancorp have returned -0.4% over the past month, while the Zacks S&P 500 composite has changed by +0.9% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Market Performance - The U.S. stock market closed lower on October 16, 2025, with the S&P 500 Index down 0.6%, the Dow Jones Industrial Average down 0.7%, and the Nasdaq Composite down 0.5%, reflecting ongoing volatility and concerns over the government shutdown and mixed economic data [1][3][11] - Initial gains were driven by strong corporate earnings, particularly from financial institutions and AI-driven technology firms, with the S&P 500 gaining 0.4% and the Nasdaq Composite climbing 0.7% at one point before retreating [2][11] Economic Indicators - The October NAHB housing market index rose by 5 points to a six-month high of 37, while the October Philadelphia Fed business outlook survey fell sharply by 36.0 points to a six-month low of -12.8, indicating mixed economic signals [7] Corporate Developments - Nvidia (NVDA) rose nearly 2%, and Broadcom (AVGO) jumped 3%, driven by strong demand in the semiconductor and AI sectors [8] - Taiwan Semiconductor Manufacturing Co. (TSM) raised its 2025 revenue guidance to mid-30% growth and reported a 39% surge in third-quarter profit, but its U.S.-listed shares fell 1.6% after initial gains [8] - Salesforce (CRM) closed 4% higher after issuing a positive long-term outlook, projecting revenue to surpass $60 billion in 2030 [8] - Morgan Stanley (MS) and Bank of America (BAC) each rose over 4% after beating third-quarter expectations, while regional banks like Zions Bancorporation (ZION) and Western Alliance Bancorp (WAL) faced significant declines [13] Upcoming Events - The upcoming week will feature the publication of U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data, which will be closely monitored for insights into the Federal Reserve's monetary policy [6]

Executive Summary & Key Highlights This section provides an overview of Glacier Bancorp, Inc.'s financial performance for Q3 and year-to-date 2025, highlighting key operational results, strategic acquisitions, and financial ratios [Q3 2025 Performance Highlights](index=1&type=section&id=Q3%202025%20Performance%20Highlights) Glacier Bancorp, Inc. reported strong Q3 2025 results, with significant growth in net income, EPS, and net interest income Q3 2025 Performance Highlights | Metric | Q3 2025 | Change from Q2 2025 | Change from Q3 2024 | | :-------------------------- | :---------- | :------------------ | :------------------ | | Net income | $67.9 million | +$15.1 million (29%) | +$16.8 million (33%) | | Diluted EPS | $0.57 | +$0.12 (27%) | +$0.12 (27%) | | Net interest income | $225 million | +$17.8 million (9%) | +$45.1 million (25%) | | Loan portfolio | $18.791 billion | +$258 million (6% annualized) | - | | Total deposits | $21.871 billion | +$242 million (4% annualized) | - | | Non-interest bearing deposits | $6.674 billion | +$80.7 million (5% annualized) | - | | Net interest margin (tax-equivalent) | 3.39% | +18 bps | +56 bps | | Loan yield | 5.97% | +11 bps | +28 bps | | Total earning asset yield | 4.86% | +13 bps | +34 bps | [Year-to-Date 2025 Performance Highlights](index=2&type=section&id=Year-to-Date%202025%20Performance%20Highlights) Glacier Bancorp, Inc. achieved robust year-to-date 2025 financial growth, driven by increased profitability, portfolio expansion, and strategic acquisitions Year-to-Date 2025 Performance Highlights | Metric | YTD 2025 | Change from YTD 2024 | | :-------------------------- | :---------- | :------------------- | | Net income | $175 million | +$46.9 million (36%) | | Diluted EPS | $1.51 | +34% | | Net interest income | $623 million | +$110 million (21%) | | Loan portfolio | +$1.529 billion (9%) | - | | Organic loan portfolio growth | +$454 million (3%) | - | | Total deposits | +$1.324 billion (6%) | - | | Organic deposit growth | +$246 million (1%) | - | | Net interest margin (tax-equivalent) | 3.21% | +51 bps | | Dividends declared per share | $0.99 | - | | Total cost of funding | 1.58% (Q3) | -21 bps (Q3 YoY) | | BOID acquisition assets (as of 4/30/2025) | $1.365 billion | - | | Guaranty acquisition assets (as of 9/30/2025) | $3.111 billion | - | - The Company completed the core system conversion of **Bank of Idaho Holding Co. (BOID)** in Q3 2025, integrating its operations into existing Glacier Bank divisions[2](index=2&type=chunk) - The Company announced and completed the acquisition of **Guaranty Bancshares, Inc.** on October 1, 2025, expanding its presence into Texas[2](index=2&type=chunk) [Financial Summary & Key Ratios](index=3&type=section&id=Financial%20Summary%20%26%20Key%20Ratios) This section summarizes operating results and key performance ratios, highlighting significant improvements in profitability and efficiency across periods Financial Summary & Key Ratios | Metric | Sep 30, 2025 (Q3) | Jun 30, 2025 (Q2) | Mar 31, 2025 (Q1) | Sep 30, 2024 (Q3) | Sep 30, 2025 (YTD) | Sep 30, 2024 (YTD) | | :---------------------------------- | :---------------- | :---------------- | :---------------- | :---------------- | :----------------- | :----------------- | | Net income (in thousands) | $67,900 | $52,781 | $54,568 | $51,055 | $175,249 | $128,390 | | 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 | | 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 locations | 248 | 247 | 227 | 232 | 248 | 232 | - The current quarter's net income included **$7.0 million in acquisition-related expenses**[3](index=3&type=chunk) [Acquisition Activities](index=2&type=section&id=Acquisition%20Activities) Glacier Bancorp, Inc. completed two key acquisitions in 2025, integrating BOID and expanding into Texas with Guaranty Bancshares - The Company completed the acquisition of **Bank of Idaho Holding Co. (BOID)** on April 30, 2025, which had total assets of **$1.365 billion** at acquisition. **BOID**'s operations were integrated into Citizens Community Bank, Mountain West Bank, and Wheatland Bank divisions[2](index=2&type=chunk)[5](index=5&type=chunk)[6](index=6&type=chunk) BOID Preliminary Fair Value Estimates (April 30, 2025) | Asset/Liability Classification | Amount (in thousands) | | :---------------------------- | :-------------------- | | 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 | - On June 24, 2025, the Company announced the signing of a definitive agreement to acquire **Guaranty Bancshares, Inc.**, which was completed on October 1, 2025. Guaranty had total assets of **$3.111 billion** as of September 30, 2025, and expanded the Company's presence into Texas[2](index=2&type=chunk)[4](index=4&type=chunk) Balance Sheet Analysis This section analyzes the Company's asset, liability, and stockholders' equity positions, detailing changes and key drivers across reporting periods [Asset Summary](index=5&type=section&id=Asset%20Summary) Total assets remained stable quarter-over-quarter but increased year-to-date, primarily driven by loan portfolio growth Asset Summary (in thousands) | Asset Category | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | Change from Q2 2025 | Change from YTD 2024 | Change from Q3 2024 | | :-------------------------- | :----------- | :----------- | :----------- | :----------- | :------------------ | :------------------- | :------------------ | | Cash and cash equivalents | $854,244 | $915,507 | $848,408 | $987,833 | $(61,263) | $5,836 | $(133,589) | | Total debt securities | $7,072,090 | $7,231,113 | $7,540,052 | $7,785,276 | $(159,023) | $(467,962) | $(713,186) | | Loans receivable | $18,790,986 | $18,532,740 | $17,261,849 | $17,181,187 | $258,246 | $1,529,137 | $1,609,799 | | Loans receivable, net | $18,561,909 | $18,305,941 | $17,055,808 | $16,976,017 | $255,968 | $1,506,101 | $1,585,892 | | Total assets | $29,015,627 | $29,004,983 | $27,902,987 | $28,205,769 | $10,644 | $1,112,640 | $809,858 | - The loan portfolio increased by **$258 million (6% annualized)** during the current quarter, with other commercial loans showing the largest dollar increase of **$147 million (4%)**. Organically, the loan portfolio increased by **$535 million (3%)** since the prior year third quarter, excluding the **Bank of Idaho Holding Co. (BOID)** acquisition[8](index=8&type=chunk) - Debt securities represented **24% of total assets** at September 30, 2025, down from **25%** in the prior quarter and **28%** in the prior year third quarter[7](index=7&type=chunk) [Liability Summary](index=8&type=section&id=Liability%20Summary) Total deposits increased quarter-over-quarter and year-to-date, driven by non-interest bearing deposits and reduced FHLB advances Liability Summary (in thousands) | Liability Category | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | Change from Q2 2025 | Change from YTD 2024 | Change from Q3 2024 | | :-------------------------- | :----------- | :----------- | :----------- | :----------- | :------------------ | :------------------- | :------------------ | | Total deposits | $21,870,949 | $21,628,502 | $20,546,994 | $20,714,764 | $242,447 | $1,323,955 | $1,156,185 | | Non-interest bearing deposits | $6,674,441 | $6,593,728 | $6,136,709 | $6,407,728 | $80,713 | $537,732 | $266,713 | | FHLB advances | $895,022 | $1,255,088 | $1,800,000 | $1,800,000 | $(360,066) | $(904,978) | $(904,978) | | Subordinated debentures | $157,379 | $157,127 | $133,105 | $133,065 | $252 | $24,274 | $24,314 | | Total liabilities | $25,407,339 | $25,472,719 | $24,679,133 | $24,960,719 | $(65,380) | $728,206 | $446,620 | - Non-interest bearing deposits represented **31% of total deposits** at September 30, 2025, consistent with the prior year third quarter[17](index=17&type=chunk) - The increase in subordinated debentures was a result of the acquisition of **BOID**[18](index=18&type=chunk) [Stockholders' Equity Summary](index=9&type=section&id=Stockholders%27%20Equity%20Summary) Stockholders' equity increased, driven by reduced comprehensive loss and earnings retention, improving tangible equity and book value per share Stockholders' Equity Summary (in thousands, except per share data) | Equity Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | Change from Q2 2025 | Change from YTD 2024 | Change from Q3 2024 | | :-------------------------------- | :----------- | :----------- | :----------- | :----------- | :------------------ | :------------------- | :------------------ | | Total stockholders' equity | $3,608,288 | $3,532,264 | $3,223,854 | $3,245,050 | $76,024 | $384,434 | $363,238 | | Accumulated other comprehensive loss | $(192,890) | $(238,655) | $(309,296) | $(262,306) | $45,765 | $116,406 | $69,416 | | 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 | - The increase in tangible stockholders' equity from the prior year end was primarily due to **$205 million of Company stock** issued in connection with the **BOID** acquisition and a **$116 million decrease in other comprehensive loss**[20](index=20&type=chunk) Credit Quality Overview This section provides an overview of the Company's credit quality, including non-performing assets, early stage delinquencies, and provision for credit losses [Credit Quality Summary (Key Metrics)](index=6&type=section&id=Credit%20Quality%20Summary%20%28Key%20Metrics%29) Non-performing assets increased, while early stage delinquencies decreased, and the allowance for credit losses remained stable Credit Quality Key Metrics | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | Change from Q2 2025 | Change from Q3 2024 | | :------------------------------------------------ | :----------- | :----------- | :----------- | :------------------ | :------------------ | | Total non-performing assets (in thousands) | $54,312 | $48,606 | $28,121 | +$5,706 (12%) | +$26,191 (93%) | | Non-performing assets as a percentage of subsidiary assets | 0.19% | 0.17% | 0.10% | +0.02% | +0.09% | | Accruing loans 30-89 days past due (in thousands) | $39,524 | $54,403 | $56,213 | $(14,879) | $(16,689) | | Early stage delinquencies as a percentage of loans | 0.21% | 0.29% | 0.33% | -0.08% | -0.12% | | Allowance for credit losses as a percentage of total loans | 1.22% | 1.22% | 1.19% | 0% | +0.03% | | Net charge-offs as a percentage of total loans (YTD) | 0.03% | 0.02% | 0.05% | +0.01% | -0.02% | [Credit Quality Trends and Provision for Credit Losses](index=7&type=section&id=Credit%20Quality%20Trends%20and%20Provision%20for%20Credit%20Losses) Provision for credit loss expense increased due to the BOID acquisition, while net charge-offs also rose quarter-over-quarter Provision for Credit Losses and Net Charge-Offs (in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | | :------------------------------------ | :------ | :------ | :------ | | Provision for credit loss expense | $7,656 | $20,267 | $8,005 | | - Credit loss expense on loans | $5,192 | $18,009 | $6,981 | | - Credit loss expense on unfunded loan commitments | $2,464 | $2,258 | $1,024 | | Net charge-offs | $2,914 | $1,645 | $2,766 | | - Deposit overdraft net charge-offs | $1,800 | - | - | | - Net loan charge-offs | $1,100 | - | - | - The current quarter's provision for credit loss expense included **$5.2 million for loans** and **$2.5 million for unfunded loan commitments** from the **BOID** acquisition[11](index=11&type=chunk) Operating Results - Quarterly (Three Months Ended September 30, 2025) This section details the Company's quarterly operating performance, focusing on net interest income, non-interest income and expense, and efficiency ratio [Net Interest Income Analysis](index=10&type=section&id=Net%20Interest%20Income%20Analysis) Net interest income and margin significantly increased, driven by higher loan yields and reduced funding costs Net Interest Income (in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | Change from Q2 2025 | Change from Q3 2024 | | :-------------------------- | :------ | :------ | :------ | :------------------ | :------------------ | | Interest income | $325,003 | $308,115 | $289,578 | +$16,888 (5%) | +$35,425 (12%) | | Interest expense | $99,624 | $100,499 | $109,347 | $(875) | $(9,723) (9%) | | Net interest income | $225,379 | $207,616 | $180,231 | +$17,763 (9%) | +$45,148 (25%) | | Net interest margin (tax-equivalent) | 3.39% | 3.21% | 2.83% | +18 bps | +56 bps | | Core net interest margin | 3.35% | 3.18% | 2.79% | +17 bps | +56 bps | | Loan yield | 5.97% | 5.86% | 5.69% | +11 bps | +28 bps | | Deposit cost (including non-interest bearing) | 1.23% | 1.25% | 1.37% | -2 bps | -14 bps | | Total cost of funding (including non-interest bearing) | 1.58% | 1.63% | 1.79% | -5 bps | -21 bps | - The increase in net interest margin was primarily driven by an increase in loan yields and a decrease in total cost of funding, along with a remix of lower yield securities cash flow into higher yield loans[25](index=25&type=chunk)[26](index=26&type=chunk) [Non-interest Income Analysis](index=11&type=section&id=Non-interest%20Income%20Analysis) Non-interest income grew, driven by increased service charges and gains on residential loan sales Non-interest Income (in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | Change from Q2 2025 | Change from Q3 2024 | | :-------------------------- | :------ | :------ | :------ | :------------------ | :------------------ | | Total non-interest income | $35,352 | $32,944 | $34,704 | +$2,408 (7%) | +$648 (2%) | | Service charges and other fees | $21,460 | $20,405 | $20,587 | +$1,055 (5%) | +$873 (4%) | | Gain on sale of loans | $5,027 | $4,273 | $4,898 | +$754 (18%) | +$129 (3%) | [Non-interest Expense Analysis](index=11&type=section&id=Non-interest%20Expense%20Analysis) Total non-interest expense increased, driven by higher compensation and acquisition-related expenses Non-interest Expense (in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | Change from Q2 2025 | Change from Q3 2024 | | :-------------------------- | :------ | :------ | :------ | :------------------ | :------------------ | | Total non-interest expense | $167,783 | $155,119 | $144,708 | +$12,664 (8%) | +$23,075 (16%) | | Compensation and employee benefits | $96,498 | $94,355 | $85,083 | +$2,143 (2%) | +$11,415 (13%) | | Other expenses | $33,120 | $24,432 | $25,848 | +$8,688 (36%) | +$7,272 (28%) | | Acquisition-related expenses | $7,000 | $3,200 | $1,900 | +$3,800 | +$5,100 | - The increase in compensation and employee benefits was primarily due to annual salary increases and increased staffing levels from the current year acquisition[30](index=30&type=chunk) - Other expenses included a **$1.6 million gain** from the sale of a former branch facility in the prior quarter and **$619 thousand** in the prior year third quarter[31](index=31&type=chunk) [Federal and State Income Tax Expense](index=11&type=section&id=Federal%20and%20State%20Income%20Tax%20Expense) Tax expense and effective tax rate increased, primarily due to higher income before income tax expense Federal and State Income Tax Expense (in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | Change from Q2 2025 | Change from Q3 2024 | | :-------------------------- | :------ | :------ | :------ | :------------------ | :------------------ | | Tax expense | $17,392 | $12,393 | $11,167 | +$5,000 (40%) | +$6,225 (56%) | | Effective tax rate | 20.4% | 19.0% | 17.9% | +1.4% | +2.5% | [Efficiency Ratio](index=12&type=section&id=Efficiency%20Ratio) The efficiency ratio improved, reflecting enhanced operational efficiency from net interest income growth Efficiency Ratio | Metric | Q3 2025 | Q2 2025 | Q3 2024 | Change from Q2 2025 | Change from Q3 2024 | | :------------- | :------ | :------ | :------ | :------------------ | :------------------ | | Efficiency ratio | 62.05% | 62.08% | 64.92% | -0.03% | -2.87% | Operating Results - Year-to-Date (Nine Months Ended September 30, 2025) This section details the Company's year-to-date operating performance, focusing on net interest income, non-interest income and expense, and efficiency ratio [Net Interest Income Analysis](index=12&type=section&id=Net%20Interest%20Income%20Analysis_YTD) Year-to-date net interest income and margin significantly increased, driven by loan growth, higher yields, and reduced funding costs Net Interest Income (in thousands) | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :-------------------------- | :------- | :------- | :------------------- | | Interest income | $923,043 | $842,814 | +$80,229 (10%) | | Interest expense | $300,069 | $329,625 | $(29,556) (9%) | | Net interest income | $622,974 | $513,189 | +$109,785 (21%) | | Net interest margin (tax-equivalent) | 3.21% | 2.70% | +51 bps | | Core net interest margin | 3.17% | 2.65% | +52 bps | | Loan yield | 5.87% | 5.58% | +29 bps | | Deposit cost (including non-interest bearing) | 1.24% | 1.36% | -12 bps | | Total funding cost (including non-interest bearing) | 1.63% | 1.81% | -18 bps | - The increase in net interest margin was 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[39](index=39&type=chunk) [Non-interest Income Analysis](index=13&type=section&id=Non-interest%20Income%20Analysis_YTD) Year-to-date non-interest income increased, driven by higher service charges and residential loan sale gains Non-interest Income (in thousands) | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :-------------------------- | :------- | :------- | :------------------- | | Total non-interest income | $100,938 | $96,897 | +$4,041 (4%) | | Service charges and other fees | $60,683 | $58,572 | +$2,111 (4%) | | Gain on sale of loans | $13,611 | $12,929 | +$682 (5%) | | Other income | $11,790 | $11,213 | +$577 (5%) | [Non-interest Expense Analysis](index=13&type=section&id=Non-interest%20Expense%20Analysis_YTD) Year-to-date non-interest expense increased, driven by higher compensation from acquisitions, partially offset by reduced regulatory assessments Non-interest Expense (in thousands) | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :-------------------------- | :------- | :------- | :------------------- | | Total non-interest expense | $474,220 | $437,503 | +$36,717 (8%) | | Compensation and employee benefits | $282,296 | $255,306 | +$26,990 (11%) | | Regulatory assessments and insurance | $17,180 | $18,304 | $(1,124) (6%) | | Other expenses | $82,984 | $78,947 | +$4,037 (5%) | | Acquisition-related expenses (included in other expenses) | $9,300 | $7,800 | +$1,500 | - The decrease in regulatory assessment and insurance expense was primarily a result of adjustments to the FDIC special assessment[43](index=43&type=chunk) [Provision for Credit Losses](index=13&type=section&id=Provision%20for%20Credit%20Losses_YTD) Year-to-date provision for credit loss expense significantly increased due to the BOID acquisition, with net charge-offs decreasing Provision for Credit Losses (in thousands) | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :-------------------------- | :------- | :------- | :------------------- | | Provision for credit loss expense | $35,737 | $19,772 | +$15,965 (81%) | | - From BOID acquisition | $16,700 | - | - | | Net charge-offs | $6,354 | $8,728 | $(2,374) | | - From prior year acquisitions | - | $9,700 | - | [Federal and State Income Tax Expense](index=13&type=section&id=Federal%20and%20State%20Income%20Tax%20Expense_YTD) Year-to-date tax expense and effective tax rate increased, primarily due to higher pre-tax income Federal and State Income Tax Expense (in thousands) | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :-------------------------- | :------- | :------- | :------------------- | | Tax expense | $38,706 | $24,421 | +$14,285 (58%) | | Effective tax rate | 18.1% | 16.0% | +2.1% | [Efficiency Ratio](index=14&type=section&id=Efficiency%20Ratio_YTD) The year-to-date efficiency ratio improved significantly, reflecting enhanced operational efficiency Efficiency Ratio | Metric | YTD 2025 | YTD 2024 | Change from YTD 2024 | | :------------- | :------- | :------- | :------------------- | | Efficiency ratio | 63.12% | 68.98% | -5.86% | Corporate Information & Outlook This section provides corporate details, including cash dividends, forward-looking statements, conference call information, and an overview of Glacier Bancorp, Inc. [Cash Dividends](index=9&type=section&id=Cash%20Dividends) The Company declared its 162nd consecutive regular quarterly cash dividend, demonstrating consistent shareholder returns - On September 22, 2025, the Board of Directors declared a quarterly cash dividend of **$0.33 per share**, payable October 16, 2025. This marks the Company's **162nd consecutive regular dividend**[21](index=21&type=chunk) [Forward-Looking Statements](index=14&type=section&id=Forward-Looking%20Statements) This section outlines various business, economic, and competitive uncertainties and contingencies that could cause actual results to differ materially from forward-looking statements, including risks related to lending, monetary policies, regulatory changes, economic conditions, acquisitions, and cybersecurity - Key risk factors include: lending and credit quality, changes in monetary and fiscal policies (interest rates, FDIC insurance), legislative or regulatory changes, overall economic conditions (inflation, government shutdown), geopolitical instability, acquisition integration, impairment of goodwill, reduction in demand for banking products, deterioration of bank reputation, competitive landscape changes, public stock market volatility, dependence on management, system failures/cybersecurity risks, and natural disasters[48](index=48&type=chunk)[52](index=52&type=chunk) - The Company does not undertake any obligation to publicly correct or update any forward-looking statement[49](index=49&type=chunk) [Conference Call Information](index=15&type=section&id=Conference%20Call%20Information) Details for the investor conference call to discuss results are provided, including registration and webcast access - A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, October 17, 2025. Investors can register via a provided link to obtain dial-in instructions or participate via webcast[50](index=50&type=chunk) [About Glacier Bancorp, Inc.](index=15&type=section&id=About%20Glacier%20Bancorp%2C%20Inc.) Glacier Bancorp, Inc. is a regional bank holding company operating across nine states through its various bank divisions - **Glacier Bancorp, Inc.** (NYSE: GBCI) is the parent company for Glacier Bank and its Bank divisions located across a nine-state footprint, including Altabank, Bank of the San Juans, Citizens Community Bank, and Guaranty Bank (Texas)[51](index=51&type=chunk) Unaudited Condensed Consolidated Financial Statements This section presents the Company's unaudited condensed consolidated financial statements, including statements of financial condition, operations, and average balance sheets [Statements of Financial Condition](index=16&type=section&id=Statements%20of%20Financial%20Condition) This section presents the unaudited condensed consolidated balance sheets, detailing assets, liabilities, and stockholders' equity Unaudited Condensed Consolidated Statements of Financial Condition (in thousands) | Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | :----------- | | Total assets | $29,015,627 | $29,004,983 | $27,902,987 | $28,205,769 | | Total liabilities | $25,407,339 | $25,472,719 | $24,679,133 | $24,960,719 | | Total stockholders' equity | $3,608,288 | $3,532,264 | $3,223,854 | $3,245,050 | | Loans receivable, net | $18,561,909 | $18,305,941 | $17,055,808 | $16,976,017 | | Total debt securities | $7,072,090 | $7,231,113 | $7,540,052 | $7,785,276 | | Non-interest bearing deposits | $6,674,441 | $6,593,728 | $6,136,709 | $6,407,728 | | FHLB advances | $895,022 | $1,255,088 | $1,800,000 | $1,800,000 | [Statements of Operations](index=17&type=section&id=Statements%20of%20Operations) This section provides the unaudited condensed consolidated income statements, detailing income, expenses, and net income for reported periods Unaudited Condensed Consolidated Statements of Operations (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :------ | :------ | :------ | :------ | :------- | :------- | | Total interest income | $325,003 | $308,115 | $289,925 | $289,578 | $923,043 | $842,814 | | 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 | | Total non-interest income | $35,352 | $32,944 | $32,642 | $34,704 | $100,938 | $96,897 | | 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 | [Average Balance Sheets](index=18&type=section&id=Average%20Balance%20Sheets) [Three Months Ended September 30, 2025 vs June 30, 2025](index=18&type=section&id=Three%20Months%20Ended%20September%2030%2C%202025%20vs%20June%2030%2C%202025) This section compares average balance sheet items, interest income/expense, and yields/rates for Q3 and Q2 2025, highlighting changes in earning assets and net interest margins Average Balance Sheets (in thousands) | Metric | Sep 30, 2025 (Avg Balance) | Jun 30, 2025 (Avg Balance) | Sep 30, 2025 (Avg Yield/Rate) | Jun 30, 2025 (Avg Yield/Rate) | | :------------------------------------ | :------------------------- | :------------------------- | :---------------------------- | :---------------------------- | | Total loans | $18,678,194 | $18,161,429 | 5.97% | 5.86% | | Total earning assets | $26,815,927 | $26,401,636 | 4.86% | 4.73% | | Non-interest bearing deposits | $6,550,398 | $6,256,245 | 0% | 0% | | Total core deposits | $21,633,483 | $21,047,529 | 1.23% | 1.25% | | Total funding liabilities | $25,052,620 | $24,678,671 | 1.58% | 1.63% | | Net interest income (tax equivalent) | $228,836 | $211,081 | - | - | | Net interest margin (tax equivalent) | - | - | 3.39% | 3.21% | [Three Months Ended September 30, 2025 vs September 30, 2024](index=20&type=section&id=Three%20Months%20Ended%20September%2030%2C%202025%20vs%20September%2030%2C%202024) This section compares average balance sheet items, interest income/expense, and yields/rates for Q3 2025 and Q3 2024, highlighting year-over-year changes in asset/liability composition and profitability Average Balance Sheets (in thousands) | Metric | Sep 30, 2025 (Avg Balance) | Sep 30, 2024 (Avg Balance) | Sep 30, 2025 (Avg Yield/Rate) | Sep 30, 2024 (Avg Yield/Rate) | | :------------------------------------ | :------------------------- | :------------------------- | :---------------------------- | :---------------------------- | | Total loans | $18,678,194 | $17,131,512 | 5.97% | 5.69% | | Total earning assets | $26,815,927 | $25,866,122 | 4.86% | 4.52% | | Non-interest bearing deposits | $6,550,398 | $6,237,166 | 0% | 0% | | Total core deposits | $21,633,483 | $20,479,843 | 1.23% | 1.37% | | Total funding liabilities | $25,052,620 | $24,254,523 | 1.58% | 1.79% | | Net interest income (tax equivalent) | $228,836 | $184,226 | - | - | | Net interest margin (tax equivalent) | - | - | 3.39% | 2.83% | [Nine Months Ended September 30, 2025 vs September 30, 2024](index=21&type=section&id=Nine%20Months%20Ended%20September%2030%2C%202025%20vs%20September%2030%2C%202024) This section compares average balance sheet items, interest income/expense, and yields/rates for YTD 2025 and YTD 2024, illustrating year-to-date trends in asset/liability management and profitability Average Balance Sheets (in thousands) | Metric | Sep 30, 2025 (Avg Balance) | Sep 30, 2024 (Avg Balance) | Sep 30, 2025 (Avg Yield/Rate) | Sep 30, 2024 (Avg Yield/Rate) | | :------------------------------------ | :------------------------- | :------------------------- | :---------------------------- | :---------------------------- | | Total loans | $18,044,796 | $16,835,531 | 5.87% | 5.58% | | Total earning assets | $26,353,065 | $25,961,467 | 4.74% | 4.40% | | Non-interest bearing deposits | $6,267,432 | $6,077,392 | 0% | 0% | | Total core deposits | $21,024,536 | $20,226,579 | 1.24% | 1.36% | | Total funding liabilities | $24,642,026 | $24,284,968 | 1.63% | 1.81% | | Net interest income (tax equivalent) | $633,317 | $525,193 | - | - | | Net interest margin (tax equivalent) | - | - | 3.21% | 2.70% | [Loan Portfolio by Regulatory Classification](index=22&type=section&id=Loan%20Portfolio%20by%20Regulatory%20Classification) This section provides a detailed breakdown of the loan portfolio by regulatory classification, showing composition and changes across various loan types Loans Receivable, by Loan Type (in thousands) | Loan Type | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | % Change from Q2 2025 | % Change from YTD 2024 | % Change from Q3 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | :----------- | :-------------------- | :--------------------- | :-------------------- | | Total residential construction | $448,651 | $462,896 | $434,770 | $439,525 | (3)% | 3% | 2% | | Total land, lot, and other construction | $1,681,660 | $1,536,336 | $1,352,290 | $1,360,068 | 9% | 24% | 24% | | 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% | | Total 1-4 family | $2,660,986 | $2,670,603 | $2,558,221 | $2,539,914 | 0% | 4% | 5% | | Multifamily residential | $969,573 | $975,785 | $895,242 | $921,138 | (1)% | 8% | 5% | | Total consumer | $1,249,258 | $1,246,339 | $1,215,240 | $1,225,817 | 0% | 3% | 2% | | Total loans receivable | $18,790,986 | $18,532,740 | $17,261,849 | $17,181,187 | 1% | 9% | 9% | [Credit Quality Summary by Regulatory Classification](index=23&type=section&id=Credit%20Quality%20Summary%20by%20Regulatory%20Classification) [Non-performing Assets](index=23&type=section&id=Non-performing%20Assets) This section details non-performing assets by loan type, highlighting increases in commercial and industrial non-accrual loans Non-performing Assets, by Loan Type (in thousands) | Loan Type | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | :----------- | | Total residential construction | $2,515 | $3,041 | $2,330 | $3,907 | | Total land, lot and other construction | $1,731 | $1,923 | $1,622 | $1,619 | | Total commercial real estate | $5,928 | $5,618 | $5,214 | $3,238 | | Commercial and Industrial | $24,165 | $14,764 | $2,069 | $2,455 | | Agriculture | $5,408 | $6,603 | $2,335 | $6,040 | | Total 1-4 family | $9,153 | $11,082 | $9,368 | $6,344 | | Multifamily residential | $1,039 | $398 | $389 | $392 | | Total consumer | $4,254 | $4,937 | $4,420 | $3,978 | | Total Non-performing Assets | $54,312 | $48,606 | $27,786 | $28,121 | [Accruing 30-89 Days Delinquent Loans](index=24&type=section&id=Accruing%2030-89%20Days%20Delinquent%20Loans) This section analyzes early stage delinquencies by loan type, showing a decrease in total 30-89 days delinquent loans quarter-over-quarter and year-over-year Accruing 30-89 Days Delinquent Loans, by Loan Type (in thousands) | Loan Type | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | % Change from Q2 2025 | % Change from YTD 2024 | % Change from Q3 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | :----------- | :-------------------- | :--------------------- | :-------------------- | | Total residential construction | $305 | $385 | $1,533 | $1,263 | (21)% | (80)% | (76)% | | Total land, lot and other construction | $5,862 | $9,295 | $2,102 | $943 | (37)% | 179% | 522% | | 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)% | | Total 1-4 family | $5,357 | $3,583 | $6,540 | $6,288 | 50% | (18)% | (15)% | | Multifamily Residential | $150 | $0 | $0 | $0 | n/m | n/m | n/m | | Total consumer | $9,172 | $7,097 | $5,506 | $6,794 | 29% | 67% | 35% | | Total | $39,524 | $54,403 | $32,228 | $56,213 | (27)% | 23% | (30)% | [Net Charge-Offs (Recoveries), Year-to-Date](index=25&type=section&id=Net%20Charge-Offs%20%28Recoveries%29%2C%20Year-to-Date) This section details year-to-date net charge-offs by loan type, indicating overall charge-offs and recoveries for the period Net Charge-Offs (Recoveries), Year-to-Date (in thousands) | Loan Type | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | Charge-Offs YTD 2025 | Recoveries YTD 2025 | | :------------------------------------ | :----------- | :----------- | :----------- | :----------- | :------------------- | :------------------ | | Pre-sold and spec construction | $0 | $50 | $(4) | $(4) | $51 | $51 | | Land development | $(358) | $(341) | $1,095 | $(21) | $0 | $358 | | Total land, lot and other construction | $(363) | $(344) | $2,730 | $282 | $0 | $363 | | Total commercial real estate | $(12) | $(9) | $(71) | $(76) | $0 | $12 | | Commercial and industrial | $655 | $26 | $1,422 | $1,272 | $1,508 | $853 | | Agriculture | $(111) | $(109) | $64 | $65 | $0 | $111 | | Total 1-4 family | $(192) | $(216) | $(33) | $(94) | $127 | $319 | | 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 |

Core Insights - The company reported a net income of $67.9 million for Q3 2025, marking a 29% increase from the previous quarter and a 33% increase from the same quarter last year [1][4] - Diluted earnings per share for the current quarter was $0.57, up 27% from both the prior quarter and the same quarter last year [1][4] - The company completed the acquisition of Guaranty Bancshares, expanding its presence into Texas [2][4] Financial Performance - Year-to-date net income for the first nine months of 2025 was $175 million, a 36% increase from $128 million in the same period last year [1][4] - Net interest income for Q3 2025 was $225 million, an increase of 9% from the prior quarter and 25% from the same quarter last year [1][24] - Total deposits reached $21.871 billion at the end of Q3 2025, reflecting a 4% annualized increase from the prior quarter [1][17] Loan and Deposit Growth - The loan portfolio increased to $18.791 billion, a 6% annualized increase from the prior quarter [1][9] - Non-interest bearing deposits rose to $6.674 billion, a 5% annualized increase from the prior quarter [1][17] - The company experienced an organic loan portfolio growth of $535 million, or 3%, excluding the impact of acquisitions [9] Credit Quality - The allowance for credit losses was $229.1 million, representing 1.22% of total loans outstanding [10][13] - Non-performing assets increased to $54.3 million, or 0.19% of subsidiary assets, up from 0.17% in the prior quarter [11][12] - Early stage delinquencies decreased to 0.21% of loans, down from 0.29% in the prior quarter [12] Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.33 per share, marking the 162nd consecutive dividend declaration [21] - Tangible stockholders' equity increased to $2.426 billion, a 3% increase from the prior quarter [19][20]

Core Viewpoint - Analysts project that Glacier Bancorp (GBCI) will report quarterly earnings of $0.61 per share, reflecting a year-over-year increase of 35.6%, with revenues expected to reach $257.05 million, up 19.6% from the same quarter last year [1]. Earnings Projections - Over the past 30 days, the consensus EPS estimate has been adjusted downward by 5.2%, indicating a reassessment by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Key Metrics Forecast - The consensus estimate for the 'Efficiency Ratio' is 61.4%, down from 64.9% a year ago [5]. - 'Non-accrual loans' are expected to reach $39.57 million, compared to $15.94 million reported in the same quarter last year [5]. - Analysts estimate 'Total non-performing assets' at $47.99 million, up from $28.12 million a year ago [5]. - 'Average Balances - Total earning assets' are projected to be $26.86 billion, an increase from $25.87 billion in the same quarter last year [6]. - 'Total Non-Interest Income' is expected to be $34.36 million, slightly down from $34.70 million a year ago [6]. - 'Net Interest Income' is forecasted at $222.40 million, compared to $180.23 million last year [7]. - 'Gain on sale of loans' is expected to reach $5.16 million, up from $4.90 million a year ago [7]. - 'Net interest income (tax-equivalent)' is projected to be $227.81 million, compared to $184.23 million last year [7]. Stock Performance - Glacier Bancorp shares have decreased by 5.6% over the past month, contrasting with a +0.4% change in the Zacks S&P 500 composite [8]. - With a Zacks Rank 4 (Sell), GBCI is anticipated to underperform the overall market in the near term [8].