Glacier Bancorp(GBCI) - 2025 Q3 - Quarterly Report

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].