Financial Data and Key Metrics Changes - Stockholders' equity increased by $83.6 million or 3% to $2.9 billion during the current quarter [11] - Tangible book value per common share rose by $0.76 or 5% to $17.16 from the prior quarter [11] - Interest income for the quarter was $232 million, up $6.8 million or 3% from the prior quarter and increased by $41.4 million or 22% year-over-year [17] - The loan portfolio increased by $272 million or 7% annualized during the current quarter, reaching $15.5 billion [17] - Non-performing assets as a percentage of subsidiary assets improved to 0.12% from 0.24% in the prior year [18] Business Line Data and Key Metrics Changes - Core deposit funding totaled $20 billion, accounting for almost 85% of total funding liabilities, with a cost of 23 basis points compared to 8 basis points in the prior quarter [13] - New production yields for the quarter were 6.96%, up 62 basis points from the last quarter [12] Market Data and Key Metrics Changes - The company reported a strong liquidity position with $15.1 billion available through various channels [12] - Deposits grew during March, despite the banking crisis, indicating stability in the company's deposit base [6] Company Strategy and Development Direction - The company aims to leverage its unique business model and strong local relationships to navigate the current banking environment [5] - Management expressed confidence in the dynamic western markets served and the potential for M&A opportunities due to current industry headwinds [16][43] Management's Comments on Operating Environment and Future Outlook - Management noted that credit quality continues to perform at record levels with little signs of deterioration [16] - The company anticipates some growth in deposits in the second and third quarters, followed by potential outflows in the fourth quarter [19] - Management expects to fund growth primarily through cash flow from the investment portfolio [19] Other Important Information - The company declared a quarterly dividend of $0.33 per share, marking 152 consecutive quarterly dividends [13] - The investment portfolio is structured to generate cash flow and is designed to be shorter in duration [10] Q&A Session Summary Question: Deposit flow drivers and outflows - Management indicated that $600 million of core deposits and repo declined, primarily due to rate-driven factors in January, but stabilized and grew in March [26][27] Question: Early second quarter deposit trends - Management noted typical tax-related flows with some increases in early April, followed by outflows related to tax payments [30] Question: Loan growth expectations - Management expects loan growth to slow in the coming quarters, projecting growth on the low end of the mid-single digit range for the year [40] Question: M&A activity in the banking industry - Management believes current headwinds in the banking industry may motivate M&A activity, presenting opportunities for the company [43] Question: Margin expectations - Management indicated that the margin for the first quarter was 3.08%, with expectations for stability moving forward [44] Question: Expense management expectations - Management provided guidance for non-interest expenses to be between $135 million and $137 million for the remaining quarters of the year [57] Question: Office exposure and underwriting standards - Management reported that total office exposure is about 9.6% of the total portfolio, with a focus on maintaining conservative underwriting standards [93]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________________________________________ FORM 10-K ________________________________________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

Glacier Bancorp, Inc. (NYSE:GBCI) Q4 2022 Earnings Conference Call January 27, 2023 11:00 AM ET Company Participants Randy Chesler - President & CEO Ron Copher - CFO Tom Dolan - Chief Credit Administrator Byron Pollan - Treasurer Conference Call Participants Jeff Rulis - D.A. Davidson Kelly Motta - KBW Operator Good day, and thank you for standing by. Welcome to the Glacier Bancorp Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presenta ...

Part I. Financial Information [Item 1 – Financial Statements](index=4&type=section&id=Item%201%20%E2%80%93%20Financial%20Statements) This section presents Glacier Bancorp's unaudited condensed consolidated financial statements, with total assets at $26.73 billion and nine-month net income at $223.53 million Condensed Consolidated Statements of Financial Condition | | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $425.21M | $437.69M | | Total debt securities | $9.51B | $10.37B | | Loans receivable, net | $14.67B | $13.26B | | Goodwill | $985.39M | $985.39M | | Total assets | $26.73B | $25.94B | | **Liabilities** | | | | Total deposits | $21.88B | $21.34B | | Federal Home Loan Bank advances | $705.00M | $0 | | Total liabilities | $23.96B | $22.76B | | **Stockholders' Equity** | | | | Total stockholders' equity | $2.77B | $3.18B | | Total liabilities and stockholders' equity | $26.73B | $25.94B | Condensed Consolidated Statements of Operations (Nine Months Ended) | | September 30, 2022 | September 30, 2021 | | :--- | :--- | :--- | | Net Interest Income | $584.32M | $474.89M | | Provision for credit losses | $13.84M | $(4.88M) | | Total non-interest income | $92.25M | $110.46M | | Total non-interest expense | $389.89M | $300.78M | | Net Income | $223.53M | $234.05M | | Diluted earnings per share | $2.02 | $2.45 | Condensed Consolidated Statements of Cash Flows (Nine Months Ended) | | September 30, 2022 | September 30, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $350.75M | $417.31M | | Net cash used in investing activities | $(1.40B) | $(3.36B) | | Net cash provided by financing activities | $1.04B | $2.66B | | Net decrease in cash, cash equivalents | $(12.47M) | $(284.25M) | [Note 1. Nature of Operations and Summary of Significant Accounting Policies](index=12&type=section&id=Note%201.%20Nature%20of%20Operations%20and%20Summary%20of%20Significant%20Accounting%20Policies) Glacier Bancorp provides banking services across eight western states, with key accounting estimates including allowance for credit losses and debt securities valuation - The company provides retail banking, business banking, real estate, commercial, agriculture, and consumer loans, as well as mortgage origination and servicing across Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada[21](index=21&type=chunk) - Material estimates susceptible to significant change include the allowance for credit losses (ACL) on loans, valuation of debt securities, valuation of other real estate owned (OREO), and the evaluation of goodwill impairment[24](index=24&type=chunk) - The allowance for credit losses (ACL) for loans is based on expected contractual life, using a model that considers historical loss, current conditions, and a reasonable and supportable forecast period of four consecutive quarters[44](index=44&type=chunk)[46](index=46&type=chunk) Provision for Credit Losses (Loans vs. Unfunded Commitments) | | Three Months ended Sep 30, 2022 | Nine Months ended Sep 30, 2022 | | :--- | :--- | :--- | | Provision for credit loss loans | $8.38M | $11.37M | | Provision for credit losses unfunded | $(0.04M) | $2.47M | | **Total provision for credit losses** | **$8.34M** | **$13.84M** | [Note 2. Debt Securities](index=22&type=section&id=Note%202.%20Debt%20Securities) Total debt securities were $9.51 billion, with $5.76 billion in AFS securities experiencing $659 million in unrealized losses due to rising interest rates, but no credit losses were recorded Debt Securities Portfolio Composition (Fair Value) | | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Available-for-sale** | $5.76B | $9.17B | | U.S. government and federal agency | $443.47M | $1.35B | | Residential mortgage-backed securities | $3.39B | $5.70B | | Commercial mortgage-backed securities | $1.14B | $1.21B | | **Held-to-maturity (Amortized Cost)** | $3.76B | $1.20B | | **Total Debt Securities** | **$9.51B** | **$10.37B** | - The company determined that the decline in fair value of its AFS debt securities was primarily due to changes in interest rates and market spreads, not credit losses. As of September 30, 2022, management did not intend to sell these securities and did not expect to be required to sell them before recovery[100](index=100&type=chunk) - No allowance for credit losses (ACL) was recorded for either AFS or HTM debt securities as of September 30, 2022, as management expects an insignificant amount of credit losses[100](index=100&type=chunk)[104](index=104&type=chunk) [Note 3. Loans Receivable, Net](index=27&type=section&id=Note%203.%20Loans%20Receivable%2C%20Net) Net loans receivable grew to $14.67 billion, with commercial real estate dominating, while the allowance for credit losses increased to $178.19 million and past due loans significantly decreased to $45.9 million Loans Receivable by Segment | | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Residential real estate | $1.37B | $1.05B | | Commercial real estate | $9.58B | $8.63B | | Other commercial | $2.73B | $2.66B | | Home equity | $793.56M | $736.29M | | Other consumer | $376.60M | $348.84M | | **Total Loans receivable** | **$14.85B** | **$13.43B** | Allowance for Credit Losses (ACL) Activity (Nine Months Ended Sep 30, 2022) | | Total | | :--- | :--- | | Balance at beginning of period | $172.67M | | Provision for credit losses | $11.37M | | Charge-offs | $(10.91M) | | Recoveries | $5.06M | | **Balance at end of period** | **$178.19M** | - Total past due and non-accrual loans decreased substantially from **$118.2 million** at the end of 2021 to **$45.9 million** as of September 30, 2022[111](index=111&type=chunk) [Note 9. Derivatives and Hedging Activities](index=40&type=section&id=Note%209.%20Derivatives%20and%20Hedging%20Activities) The company uses derivative instruments, primarily interest rate caps with a fair value of $7.64 million, and residential real estate derivatives to manage interest rate risk on variable-rate debentures and mortgage loans held for sale - The company entered into interest rate caps with notional amounts of **$130.5 million** to hedge its variable rate subordinated debentures. At September 30, 2022, these derivatives had a fair value of **$7.64 million**, reported in other assets[141](index=141&type=chunk) - To mitigate risk on residential real estate loans held for sale, the company uses interest rate lock commitments and forward commitments to sell to-be-announced (TBA) securities. At September 30, 2022, TBA commitments totaled **$37 million**[143](index=143&type=chunk) [Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations](index=49&type=section&id=Item%202%20%E2%80%93%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, noting Q3 2022 net income of $79.3 million (up 5% YoY) and nine-month net income of $224 million (down 5% YoY) due to various factors [Financial Highlights](index=50&type=section&id=Financial%20Highlights) Q3 2022 net income increased 5% to $79.3 million, while nine-month net income decreased 5% to $224 million, influenced by acquisition, loan growth, and reduced PPP income Quarterly Performance Summary | Metric | Q3 2022 | Q3 2021 | | :--- | :--- | :--- | | Net Income | $79.3M | $75.6M | | Diluted EPS | $0.72 | $0.79 | | Return on average assets | 1.18% | 1.43% | | Efficiency ratio | 52.76% | 50.17% | - The **5% YoY increase** in Q3 net income was primarily driven by the acquisition of Altabancorp (Alta) and organic loan growth, which offset a **$10.1 million decrease** in gain on sale of residential loans and a **$7.6 million increase** in provision for credit loss[178](index=178&type=chunk) - The **5% YoY decrease** in nine-month net income was driven by a **$38.3 million decrease** in PPP-related income, a **$33.8 million decrease** in gain on sale of residential loans, and an **$18.7 million increase** in provision for credit loss[179](index=179&type=chunk) [Financial Condition Analysis](index=51&type=section&id=Financial%20Condition%20Analysis) Total assets reached $26.73 billion, with loan portfolio growth of $457 million, while tangible stockholders' equity decreased by $121.2 million due to unrealized losses on AFS securities Asset Composition Changes | | Sep 30, 2022 | Dec 31, 2021 | $ Change | | :--- | :--- | :--- | :--- | | Total debt securities | $9.51B | $10.37B | $(858.30M) | | Loans receivable, net | $14.67B | $13.26B | $1.41B | | **Total assets** | **$26.73B** | **$25.94B** | **$792.31M** | - Core deposits increased by **$96.0 million** (**2% annualized**) in Q3 2022, with non-interest bearing deposits growing by **$233 million** (**12% annualized**)[184](index=184&type=chunk) - Tangible book value per common share decreased to **$15.73** from **$19.33** at year-end 2021, primarily due to the increase in unrealized losses on available-for-sale securities[186](index=186&type=chunk) [Operating Results Analysis](index=54&type=section&id=Operating%20Results%20Analysis) Q3 2022 net interest income increased 26% to $205 million, while non-interest income decreased 13% to $30.4 million and non-interest expense rose 25% to $130 million - Q3 2022 net interest income increased by **$42.7 million** (**26%**) YoY, driven by the Alta acquisition and organic loan growth[191](index=191&type=chunk) - The tax-equivalent net interest margin for Q3 2022 was **3.34%**, an increase of **11 basis points** from the prior quarter, primarily due to increased core loan yields[193](index=193&type=chunk) - Gain on sale of residential loans for Q3 2022 was **$3.8 million**, a decrease of **$10.1 million** (**72%**) from Q3 2021, reflecting reduced mortgage activity due to rising rates[195](index=195&type=chunk) - The provision for credit losses was **$13.8 million** for the first nine months of 2022, compared to a benefit of **$4.9 million** in the same period of 2021, primarily due to organic loan growth[211](index=211&type=chunk) [Credit Quality and Allowance for Credit Losses](index=63&type=section&id=Credit%20Quality%20and%20Allowance%20for%20Credit%20Losses) Credit quality improved, with non-performing assets decreasing to $35.06 million (0.13% of assets) and the Allowance for Credit Losses (ACL) on loans at $178.19 million (1.20% of total loans) Non-Performing Assets Trend | | Sep 30, 2022 | Dec 31, 2021 | Sep 30, 2021 | | :--- | :--- | :--- | :--- | | Total non-performing assets | $35.06M | $67.69M | $51.18M | | NPA as a % of subsidiary assets | 0.13% | 0.26% | 0.24% | - Early stage delinquencies (accruing loans 30-89 days past due) decreased to **$10.9 million** at Q3 2022, down from **$50.6 million** at year-end 2021[229](index=229&type=chunk) Allowance for Credit Losses (ACL) on Loans | Metric | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | ACL Balance | $178.19M | $172.67M | | ACL as a % of total loans | 1.20% | 1.29% | [Liquidity and Capital Resources](index=72&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity, primarily from deposits, with $2.88 billion available from FHLB, and robust capital ratios exceeding 'well-capitalized' requirements - Primary sources of funds are customer deposits, loan repayments, and borrowings from the FHLB. Total deposits were **$21.9 billion** as of September 30, 2022[253](index=253&type=chunk)[254](index=254&type=chunk) Available Liquidity Sources (Sep 30, 2022) | | Amount Available | | :--- | :--- | | FHLB advances | $2.88B | | FRB discount window | $1.81B | | Unsecured lines of credit | $635.00M | | Total unencumbered debt securities | $6.76B | Glacier Bank Regulatory Capital Ratios (Sep 30, 2022) | Ratio | Actual | Well Capitalized Requirement | | :--- | :--- | :--- | | Common Equity Tier 1 | 12.46% | 6.50% | | Tier 1 Capital | 12.46% | 8.00% | | Total Capital | 13.43% | 10.00% | | Leverage Ratio | 8.85% | 5.00% | [Item 3 – Quantitative and Qualitative Disclosure about Market Risk](index=79&type=section&id=Item%203%20%E2%80%93%20Quantitative%20and%20Qualitative%20Disclosure%20about%20Market%20Risk) No material changes in quantitative and qualitative disclosures about market risk were reported from the 2021 Annual Report on Form 10-K - There are no material changes in the quantitative and qualitative disclosures about market risk from those in the Company's 2021 Annual Report on Form 10-K[279](index=279&type=chunk) [Item 4 – Controls and Procedures](index=79&type=section&id=Item%204%20%E2%80%93%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during Q3 2022 - The CEO and CFO have concluded that the Company's disclosure controls and procedures are effective as of September 30, 2022[280](index=280&type=chunk) - No material changes to the Company's internal control over financial reporting were identified during the third quarter of 2022[281](index=281&type=chunk) Part II. Other Information [Item 1 – Legal Proceedings](index=79&type=section&id=Item%201%20%E2%80%93%20Legal%20Proceedings) The company is involved in various legal actions, but management expects no material adverse effect on financial condition or operations - The Company is involved in various claims and legal actions arising in the ordinary course of business, but management does not expect them to have a material adverse effect on financial condition or operations[283](index=283&type=chunk) [Item 1A – Risk Factors](index=79&type=section&id=Item%201A%20%E2%80%93%20Risk%20Factors) No material changes from the risk factors previously disclosed in the Company's 2021 Annual Report on Form 10-K were reported - There have been no material changes from the risk factors previously disclosed in the Company's 2021 Annual Report on Form 10-K[284](index=284&type=chunk)

Glacier Bancorp, Inc. (NYSE:GBCI) Q3 2022 Earnings Conference Call October 21, 2022 11:00 AM ET Company Participants Randall Chesler - President & CEO Ron Copher - CFO Tom Dolan - Chief Credit Administrator Byron Pollan - Treasurer Conference Call Participants Jeff Rulis - D.A. Davidson Brandon King - Truist Securities Matthew Clark - Piper Sandler Kelly Motta - KBW Tim Coffey - Janney David Feaster - Raymond James Operator Good day, and thank you for standing by. Welcome to the Glacier Bancorp Third Quarte ...

FORM 10-Q ____________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________ ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ 49 Commons Loop Kalispell, ...

Glacier Bancorp, Inc. (NYSE:GBCI) Q2 2022 Earnings Conference Call July 22, 2022 11:00 AM ET Company Participants Randall Chesler - President and Chief Executive Officer Ron Copher - Chief Financial Officer Tom Dolan - Chief Credit Administrator Byron Pollan - Treasurer Conference Call Participants Matthew Clark - Piper Sandler David Feaster - Raymond James Brandon King - Truist Securities Andrew Terrell - Stephens Jeff Rulis - D.A. Davidson Operator Good day. And thank you for standing by. Welcome to the ...

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, 2022 ☐ 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 ...

Financial Data and Key Metrics Changes - Net income for the quarter was $67.8 million, an increase of $17.1 million or 34% from the prior quarter's net income of $50.7 million [6] - Pre-tax pre-provision net revenue was $88.8 million, compared to the prior quarter of $87.9 million, an increase of $900,000 or 1% [6] - Earnings per share for the quarter was $0.61, versus $0.46 in the prior quarter [9] - Non-interest expense of $130 million decreased by $3.7 million or 3% from the prior quarter [8] - Non-interest income of $33.6 million declined by $799,000 or 2% from the prior quarter and decreased by $6.6 million or 16% from the same quarter last year [16] Business Line Data and Key Metrics Changes - The loan portfolio, excluding PPP loans, had strong organic growth during the quarter, up $407 million or 12% annualized [6] - Net interest income on a tax-equivalent basis was $190 million, with net interest income excluding PPP loans at $187 million, an increase of $3.2 million or 2% from the prior quarter [7] - Core deposits grew organically by $383 million or 7% during the quarter, with non-interest bearing deposits increasing by $211 million or 11% annualized [11] Market Data and Key Metrics Changes - Total debt securities of $10.1 billion decreased by $257 million or 2% from the prior quarter but increased by $3.7 billion or 57% from the prior year first quarter [12] - The yield on the loan portfolio ended the quarter at 4.59%, down 11 basis points from the prior quarter [14] - Non-performing assets improved to 24 basis points from 26 in the prior quarter [13] Company Strategy and Development Direction - The company aims for low double-digit growth outlook and is cautiously optimistic about future performance despite economic uncertainties [16] - The acquisition of Alta Bank is progressing well, with successful conversion to the core banking system and targeted cost savings expected to be realized in 2022 [19][20] - The company continues to focus on responsible growth with a through-the-cycle underwriting lens, particularly in commercial real estate lending [15] Management's Comments on Operating Environment and Future Outlook - Management noted that the economic uncertainty caused by rising interest rates and inflation has not yet materially impacted growth outside of the residential mortgage market [16] - Concerns regarding the real estate market include the supply of homes available for sale and the impact of increasing interest rates on affordability [17][48] - Management remains comfortable with credit quality and has tightened underwriting guidelines in response to market conditions [35] Other Important Information - The company declared a regular dividend of $0.33 per share, an increase of 3% over the prior quarter [10] - The allowance for credit loss reserves remained flat at 1.28% of total loans, reflecting strong credit metrics [9] Q&A Session Summary Question: What drove the lower expenses this quarter? - Management attributed the lower expenses to controlled compensation growth and effective expense management by divisions [23][24] Question: What are the loan yields and outlook? - New loan production yields were around 4.20%, which is about 20 basis points better than the last quarter [25][26] Question: How is organic growth shaping up? - Management indicated strong growth in commercial real estate and noted that Utah remains a key growth area [30][31] Question: What are the concerns regarding credit quality? - Management is closely monitoring the consumer book due to inflationary pressures but feels prepared for the uncertain market [32][34] Question: How does the company view deposit growth going forward? - Management expects deposit growth to slow but believes the foundation of relationship accounts will remain stable [36][38] Question: What is the appetite for M&A? - Management indicated no changes in M&A appetite and remains focused on the current integration of Alta Bank [60] Question: What is the expected tax rate for the year? - The expected tax rate is projected to be between 19% and 20% [61] Question: Is there a qualitative adjustment in the reserve? - Management confirmed there is a qualitative component but does not expect significant adjustments [62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________________________________________ FORM 10-K ________________________________________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...