Glacier Bancorp, Inc 8-K, filed Oct 22, 2026
Glacier Bancorp, Inc. (GBCI)
8-K
2026-10-22
For: 2026-10-22
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Added on
October 28, 2026
About this 8-K
Glacier Bancorp, Inc filed this 8-K on October 22, 2026.
Glacier Bancorp, Inc. reported record third-quarter 2026 net income of $104.6 million and diluted earnings per share of $0.80; its Board declared a $0.35 per-share dividend. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________________
FORM 8-K
____________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 22, 2026
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(Exact name of registrant as specified in its charter)
____________________________________________________________
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| (Address of principal executive offices) | (Zip Code) | ||||||||||
| (Registrant’s telephone number, including area code) | |||||||||||
____________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 22, 2026, Glacier Bancorp, Inc. ("Company") issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein in its entirety by reference.
The information in this Item 2.02 and the Exhibit attached hereto is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such document or filing.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended September 30, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: | October 22, 2026 | GLACIER BANCORP, INC. | |||||||||
| /s/ Randall M. Chesler | |||||||||||
| By: | Randall M. Chesler | ||||||||||
| President and Chief Executive Officer | |||||||||||
NEWS RELEASE
October 22, 2026
| 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 SEPTEMBER 30, 2026
3rd Quarter 2026 Highlights:
•Net income was a record $105 million for the current quarter, an increase of $6.7 million, or 7 percent, from the prior quarter net income of $97.9 million and an increase of $36.7 million, or 54 percent, from the prior year third quarter net income of $67.9 million.
•Diluted earnings per share for the current quarter was $0.80, an increase of $0.05 per share, or 7 percent, from the prior quarter diluted earnings per share of $0.75 and an increase of $0.23 per share, or 40 percent, from the prior year third quarter diluted earnings per share of $0.57.
•Operating diluted earnings per share1 for the current quarter was $0.81, an increase of $0.05 per share, or 7 percent, from the prior quarter operating diluted earnings per share of $0.76 and an increase of $0.19 per share, or 31 percent, from the prior year third quarter operating diluted earnings per share of $0.62.
•Net interest income for the current quarter was $290 million, an increase of $13.5 million, or 5 percent, from the prior quarter net interest income of $276 million and an increase of $65 million, or 29 percent, from the prior year third quarter net interest income of $225 million.
•The loan portfolio of $21.620 billion at September 30, 2026, increased $256 million, or 5 percent annualized, from the prior quarter.
•Total deposits of $25.273 billion for the current quarter increased $619 million, or 10 percent annualized, from the prior quarter.
•Total non-interest bearing deposits of $7.702 billion for the current quarter increased $279 million, or 15 percent annualized, from the prior quarter.
•The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 4.01 percent, an increase of 11 basis points from the prior quarter net interest margin of 3.90 percent and an increase of 62 basis points from the prior year third quarter net interest margin of 3.39 percent.
1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP.
1
•The total earning assets yield of 5.23 percent in the current quarter increased 9 basis points from the prior quarter earning assets yield of 5.14 percent and increased 37 basis points from the prior year third quarter earning assets yield of 4.86 percent.
•The core deposit cost (including non-interest bearing deposits) of 1.17 percent in the current quarter decreased 1 basis point from the prior quarter core deposit cost of 1.18 percent and decreased 6 basis points from the prior year third quarter core deposit cost of 1.23 percent.
•The total cost of funding (including non-interest bearing deposits) of 1.32 percent in the current quarter decreased 1 basis point from the prior quarter total cost of funding of 1.33 percent and decreased 26 basis points from the prior year third quarter total cost of funding of 1.58 percent.
•The Company declared a quarterly dividend of $0.35 per share, an increase of $0.02, or 6 percent, over the prior quarter. The Company has declared 166 consecutive quarterly dividends and has increased the dividend 50 times.
Year-to-Date 2026 Highlights:
•Net income for the first nine months of 2026 was $285 million, an increase of $109 million, or 62 percent, from the prior year first nine months net income of $175 million.
•Diluted earnings per share for the first nine months of 2026 was $2.18, an increase of $0.67 per share, or 44 percent, from the prior year first nine months diluted earnings per share of $1.51.
•Operating diluted earnings per share for the first nine months of 2026 was $2.26, an increase of $0.59 per share, or 35 percent, from the prior year first nine months operating diluted earnings per share of $1.67.
•Net interest income for the first nine months of 2026 was $835 million, an increase of $212 million, or 34 percent, from the prior year first nine months net interest income of $623 million.
•The loan portfolio increased $2.829 billion, or 15 percent, from the prior year third quarter.
•Total deposits increased $3.402 billion, or 16 percent, from the prior year third quarter.
•The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first nine months of 2026 was 3.90 percent, an increase of 69 basis points from the prior year first nine months net interest margin of 3.21 percent.
•The Company completed the core system conversion of Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”). Guaranty was acquired on October 1, 2025, with total assets of $3.357 billion.
•Dividends declared in the first nine months of 2026, were $1.01 per share, an increase of $0.02, or 2 percent, over the prior year first nine months of $0.99 per share.
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Financial Summary
| At or for the Three Months ended | At or for the Nine Months ended | ||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except per share and market data) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | |||||||||||||||||||||||||||||||||||
| Performance results | |||||||||||||||||||||||||||||||||||||||||
| Net income | $ | 104,562 | 97,862 | 82,144 | 67,900 | 284,568 | 175,249 | ||||||||||||||||||||||||||||||||||
| Basic earnings per share | $ | 0.80 | 0.75 | 0.63 | 0.57 | 2.19 | 1.51 | ||||||||||||||||||||||||||||||||||
| Diluted earnings per share | $ | 0.80 | 0.75 | 0.63 | 0.57 | 2.18 | 1.51 | ||||||||||||||||||||||||||||||||||
Operating diluted earnings per share (non-GAAP) 1 | $ | 0.81 | 0.76 | 0.70 | 0.62 | 2.26 | 1.67 | ||||||||||||||||||||||||||||||||||
| Dividends declared per share | $ | 0.35 | 0.33 | 0.33 | 0.33 | 1.01 | 0.99 | ||||||||||||||||||||||||||||||||||
| Market value per share | |||||||||||||||||||||||||||||||||||||||||
| Closing | $ | 43.20 | 51.58 | 44.67 | 48.67 | 43.20 | 48.67 | ||||||||||||||||||||||||||||||||||
| High | $ | 54.58 | 52.16 | 53.99 | 50.54 | 54.58 | 52.81 | ||||||||||||||||||||||||||||||||||
| Low | $ | 43.03 | 44.26 | 41.87 | 42.08 | 41.87 | 36.76 | ||||||||||||||||||||||||||||||||||
| Selected ratios and other data | |||||||||||||||||||||||||||||||||||||||||
Number of common stock shares outstanding | 130,218,983 | 130,202,054 | 130,124,378 | 118,552,847 | 130,218,983 | 118,552,847 | |||||||||||||||||||||||||||||||||||
| Average outstanding shares - basic | 130,214,868 | 130,167,496 | 130,052,858 | 118,552,231 | 130,145,667 | 116,316,754 | |||||||||||||||||||||||||||||||||||
| Average outstanding shares - diluted | 130,433,235 | 130,346,888 | 130,242,765 | 118,628,434 | 130,324,260 | 116,382,822 | |||||||||||||||||||||||||||||||||||
| Return on average assets (annualized) | 1.31 | % | 1.25 | % | 1.05 | % | 0.93 | % | 1.20 | % | 0.82 | % | |||||||||||||||||||||||||||||
| Return on average equity (annualized) | 9.53 | % | 9.13 | % | 7.82 | % | 7.52 | % | 8.84 | % | 6.82 | % | |||||||||||||||||||||||||||||
| Efficiency ratio | 56.08 | % | 56.65 | % | 63.05 | % | 62.05 | % | 58.51 | % | 63.12 | % | |||||||||||||||||||||||||||||
Operating efficiency ratio (non-GAAP) 1 | 55.75 | % | 56.21 | % | 59.25 | % | 58.87 | % | 57.03 | % | 61.83 | % | |||||||||||||||||||||||||||||
| Loan to deposit ratio | 85.69 | % | 86.84 | % | 85.18 | % | 86.11 | % | 85.69 | % | 86.11 | % | |||||||||||||||||||||||||||||
Number of full time equivalent employees | 4,111 | 4,125 | 4,139 | 3,649 | 4,111 | 3,649 | |||||||||||||||||||||||||||||||||||
| Number of locations | 282 | 282 | 282 | 248 | 282 | 248 | |||||||||||||||||||||||||||||||||||
| Number of ATMs | 338 | 339 | 337 | 298 | 338 | 298 | |||||||||||||||||||||||||||||||||||
______________________________
1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP.
KALISPELL, Mont., Oct 22, 2026, (GLOBE NEWSWIRE) - Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $104.6 million for the current quarter, an increase of $6.7 million, or 7 percent, from the prior quarter net income of $97.9 million and an increase of $36.7 million, or 54 percent, from the prior year third quarter net income of $67.9 million. Diluted earnings per share for the current quarter was $0.80, an increase of $0.05 per share, or 7 percent, from the prior quarter diluted earnings per share of $0.75 and an increase of $0.23 per share, or 40 percent, from the prior year third quarter diluted earnings per share of $0.57. Operating diluted earnings per share for the current quarter was $0.81, an increase of $0.05 per share, or 7 percent, from the prior quarter operating diluted earnings per share of $0.76 and an increase of $0.19 per share, or 31 percent, from the prior year third quarter operating diluted earnings per share of $0.62. The current quarter included $1.9 million of compensation from acquisition-related employment agreements and $844 thousand of gains from the sale of former branch facilities and disposal of fixed assets. “Our strong third quarter results clearly demonstrate the power of the Glacier franchise,” said Randy Chesler, President and Chief Executive Officer. “We generated record net income, expanded margin for the eleventh consecutive quarter, increased deposits and delivered solid loan growth. We are well positioned to return to our historical levels of performance as continued balance sheet repricing drives improved profitability and the Glacier franchise continues to grow.”
Net income for the first nine months of 2026 was $285 million, an increase of $110 million, or 63 percent, from the prior year first nine months net income of $175 million which was driven primarily by the increase in net
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interest income from the improvement in the net interest margin. Diluted earnings per share for the first nine months of 2026 was $2.18, an increase of $0.67 per share, or 44 percent, from the prior year first nine months diluted earnings per share of $1.51. Operating diluted earnings per share for the first nine months of 2026 was $2.26, an increase of $0.59 per share, or 35 percent, from the prior year first nine months of 2025 operating diluted earnings per share of $1.67.
Asset Summary
| $ Change from | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,506,781 | 1,056,679 | 1,235,261 | 854,244 | 450,102 | 271,520 | 652,537 | |||||||||||||||||||||||||||||||||
| Debt securities, available-for-sale | 3,595,063 | 3,482,725 | 4,007,512 | 3,916,189 | 112,338 | (412,449) | (321,126) | ||||||||||||||||||||||||||||||||||
| Debt securities, held-to-maturity | 2,817,933 | 3,004,758 | 3,110,216 | 3,155,901 | (186,825) | (292,283) | (337,968) | ||||||||||||||||||||||||||||||||||
| Total debt securities | 6,412,996 | 6,487,483 | 7,117,728 | 7,072,090 | (74,487) | (704,732) | (659,094) | ||||||||||||||||||||||||||||||||||
Loans receivable 1 | |||||||||||||||||||||||||||||||||||||||||
| Residential real estate | 2,104,815 | 2,111,683 | 2,457,907 | 1,926,448 | (6,868) | (353,092) | 178,367 | ||||||||||||||||||||||||||||||||||
| Commercial real estate | 14,432,233 | 14,155,059 | 13,565,512 | 12,045,446 | 277,174 | 866,721 | 2,386,787 | ||||||||||||||||||||||||||||||||||
| Other commercial | 3,613,414 | 3,615,240 | 3,497,829 | 3,451,177 | (1,826) | 115,585 | 162,237 | ||||||||||||||||||||||||||||||||||
| Home equity | 1,050,852 | 1,054,110 | 977,206 | 980,472 | (3,258) | 73,646 | 70,380 | ||||||||||||||||||||||||||||||||||
| Other consumer | 418,216 | 427,631 | 429,342 | 387,443 | (9,415) | (11,126) | 30,773 | ||||||||||||||||||||||||||||||||||
| Loans receivable | 21,619,530 | 21,363,723 | 20,927,796 | 18,790,986 | 255,807 | 691,734 | 2,828,544 | ||||||||||||||||||||||||||||||||||
Allowance for credit losses | (259,668) | (260,025) | (255,319) | (229,077) | 357 | (4,349) | (30,591) | ||||||||||||||||||||||||||||||||||
| Loans receivable, net | 21,359,862 | 21,103,698 | 20,672,477 | 18,561,909 | 256,164 | 687,385 | 2,797,953 | ||||||||||||||||||||||||||||||||||
| Other assets | 3,011,165 | 2,951,141 | 2,952,597 | 2,527,384 | 60,024 | 58,568 | 483,781 | ||||||||||||||||||||||||||||||||||
| Total assets | $ | 32,290,804 | 31,599,001 | 31,978,063 | 29,015,627 | 691,803 | 312,741 | 3,275,177 | |||||||||||||||||||||||||||||||||
______________________________
1 In connection with the Guaranty core system conversion, Guaranty loans were reclassified in the first quarter to conform to the Company’s classifications. There were approximately $236 million of loans reclassified from residential loans into other categories, the majority of which were reclassified to commercial real estate loans.
Total debt securities of $6.413 billion at September 30, 2026, decreased $74.5 million, or 1 percent, during the current quarter and decreased $659 million, or 9 percent, from the prior year third quarter. The Company selectively purchased debt securities during the current quarter with the Company’s excess liquidity position. Debt securities represented 20 percent of total assets at September 30, 2026, compared to 21 percent at June 30, 2026, and 24 percent at September 30, 2025.
The loan portfolio of $21.620 billion at September 30, 2026, increased $256 million, or 5 percent annualized, from the prior quarter. The loan portfolio increased $2.829 billion, or 15 percent, from the prior year third quarter. Excluding the Guaranty acquisition on October 1, 2025, the loan portfolio increased $726 million, or 4 percent, from the prior year third quarter.
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Credit Quality Summary
| At or for the Nine Months ended | At or for the Six Months ended | At or for the Year ended | At or for the Nine Months ended | ||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||||||||
| Allowance for credit losses | |||||||||||||||||||||||
| Balance at beginning of period | $ | 255,319 | 255,319 | 206,041 | 206,041 | ||||||||||||||||||
| Acquisitions | — | — | 154 | 35 | |||||||||||||||||||
| Provision for credit losses | 19,282 | 13,639 | 61,846 | 29,355 | |||||||||||||||||||
| Charge-offs | (18,578) | (11,562) | (18,682) | (11,276) | |||||||||||||||||||
| Recoveries | 3,645 | 2,629 | 5,960 | 4,922 | |||||||||||||||||||
| Balance at end of period | $ | 259,668 | 260,025 | 255,319 | 229,077 | ||||||||||||||||||
| Provision for credit losses | |||||||||||||||||||||||
| Loan portfolio | $ | 19,282 | 13,639 | 61,846 | 29,355 | ||||||||||||||||||
| Unfunded loan commitments | (1,754) | (1,220) | 9,554 | 6,382 | |||||||||||||||||||
| Total provision for credit losses | $ | 17,528 | 12,419 | 71,400 | 35,737 | ||||||||||||||||||
| Other real estate owned | $ | 4,882 | 1,219 | 284 | 1,376 | ||||||||||||||||||
| Other foreclosed assets | 338 | 322 | 127 | 37 | |||||||||||||||||||
| Accruing loans 90 days or more past due | 17,219 | 15,867 | 5,997 | 7,449 | |||||||||||||||||||
| Non-accrual loans | 68,202 | 74,441 | 62,487 | 45,450 | |||||||||||||||||||
| Total non-performing assets | $ | 90,641 | 91,849 | 68,895 | 54,312 | ||||||||||||||||||
Non-performing assets as a percentage of subsidiary assets | 0.28 | % | 0.29 | % | 0.22 | % | 0.19 | % | |||||||||||||||
Allowance for credit losses as a percentage of non-performing loans | 304 | % | 288 | % | 373 | % | 433 | % | |||||||||||||||
Allowance for credit losses as a percentage of total loans | 1.20 | % | 1.22 | % | 1.22 | % | 1.22 | % | |||||||||||||||
| Net charge-offs as a percentage of total loans | 0.07 | % | 0.04 | % | 0.06 | % | 0.03 | % | |||||||||||||||
| Accruing loans 30-89 days past due | $ | 58,149 | 65,483 | 78,826 | 39,524 | ||||||||||||||||||
| U.S. government guarantees included in non-performing assets | $ | 4,657 | 7,497 | 8,733 | 10,358 | ||||||||||||||||||
Early stage delinquencies (accruing loans 30-89 days past due) of $58.1 million at September 30, 2026, decreased $7.3 million from the prior quarter and increased $18.6 million from the prior year third quarter. Early stage delinquencies as a percentage of loans at September 30, 2026, were 0.27 percent compared to 0.31 percent for the prior quarter and 0.21 percent for the prior year third quarter. Non-performing assets of $90.6 million at September 30, 2026, decreased $1.2 million, or 1 percent, over the prior quarter and increased $36.3 million, or 67 percent, over the prior year third quarter.
The current quarter provision for credit loss expense of $5.1 million included $5.6 million of credit loss expense on loans and $534 thousand of credit loss benefit on unfunded loan commitments. The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.20 percent at September 30, 2026, compared to 1.22 percent at each of June 30, 2026, December 31, 2025, and September 30, 2025. Loan portfolio growth, composition, credit quality considerations, economic forecasts, actual results, and other environmental factors will continue to determine the level of the ACL on loans.
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Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio
| (Dollars in thousands) | Provision for Credit Losses Loans | Net Charge-Offs | ACL as a Percent of Loans | Accruing Loans 30-89 Days Past Due as a Percent of Loans | Non-Performing Assets to Total Subsidiary Assets | ||||||||||||||||||||||||
| Third quarter 2026 | $ | 5,643 | $ | 6,000 | 1.20 | % | 0.27 | % | 0.28 | % | |||||||||||||||||||
| Second quarter 2026 | 10,125 | 5,871 | 1.22 | % | 0.31 | % | 0.29 | % | |||||||||||||||||||||
| First quarter 2026 | 3,514 | 3,062 | 1.22 | % | 0.44 | % | 0.25 | % | |||||||||||||||||||||
| Fourth quarter 2025 | 32,491 | 6,368 | 1.22 | % | 0.38 | % | 0.22 | % | |||||||||||||||||||||
| Third quarter 2025 | 5,192 | 2,914 | 1.22 | % | 0.21 | % | 0.19 | % | |||||||||||||||||||||
| Second quarter 2025 | 18,009 | 1,645 | 1.22 | % | 0.29 | % | 0.17 | % | |||||||||||||||||||||
| First quarter 2025 | 6,154 | 1,795 | 1.22 | % | 0.27 | % | 0.14 | % | |||||||||||||||||||||
| Fourth quarter 2024 | 6,041 | 5,170 | 1.19 | % | 0.19 | % | 0.10 | % | |||||||||||||||||||||
Net charge-offs for the current quarter were $6.0 million compared to $5.9 million in the prior quarter and $2.9 million for the prior year third quarter. The current quarter net charge-offs included $3.5 million in deposit overdraft net charge-offs and $2.5 million of net loan charge-offs.
Supplemental information regarding credit quality and identification of the Company’s loan portfolio based on the regulatory classification of loans is provided in the tables at the end of this press release. The regulatory classification of loans is based primarily on collateral type while the Company’s loan segments presented herein are based on the purpose of the loan.
Liability Summary
| $ Change from | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||||||||||||||
| Non-interest bearing deposits | $ | 7,702,429 | 7,423,439 | 7,314,779 | 6,674,441 | 278,990 | 387,650 | 1,027,988 | |||||||||||||||||||||||||||||||||
| NOW and DDA accounts | 6,139,924 | 6,192,363 | 6,236,551 | 5,805,816 | (52,439) | (96,627) | 334,108 | ||||||||||||||||||||||||||||||||||
| Savings accounts | 3,225,270 | 3,169,141 | 3,158,939 | 3,049,753 | 56,129 | 66,331 | 175,517 | ||||||||||||||||||||||||||||||||||
Money market deposit accounts | 4,458,524 | 4,132,820 | 3,948,201 | 3,137,810 | 325,704 | 510,323 | 1,320,714 | ||||||||||||||||||||||||||||||||||
| Certificate accounts | 3,743,285 | 3,732,971 | 3,928,550 | 3,199,825 | 10,314 | (185,265) | 543,460 | ||||||||||||||||||||||||||||||||||
| Core deposits, total | 25,269,432 | 24,650,734 | 24,587,020 | 21,867,645 | 618,698 | 682,412 | 3,401,787 | ||||||||||||||||||||||||||||||||||
| Wholesale deposits | 3,305 | 3,383 | 4,076 | 3,304 | (78) | (771) | 1 | ||||||||||||||||||||||||||||||||||
| Deposits, total | 25,272,737 | 24,654,117 | 24,591,096 | 21,870,949 | 618,620 | 681,641 | 3,401,788 | ||||||||||||||||||||||||||||||||||
| Repurchase agreements | 1,954,925 | 1,952,501 | 2,084,113 | 2,004,286 | 2,424 | (129,188) | (49,361) | ||||||||||||||||||||||||||||||||||
| Deposits and repurchase agreements, total | 27,227,662 | 26,606,618 | 26,675,209 | 23,875,235 | 621,044 | 552,453 | 3,352,427 | ||||||||||||||||||||||||||||||||||
Federal Home Loan Bank advances | — | — | 440,000 | 895,022 | — | (440,000) | (895,022) | ||||||||||||||||||||||||||||||||||
| Other borrowed funds | 51,744 | 52,880 | 51,473 | 59,779 | (1,136) | 271 | (8,035) | ||||||||||||||||||||||||||||||||||
| Finance lease liabilities | 30,559 | 31,606 | 28,808 | 18,401 | (1,047) | 1,751 | 12,158 | ||||||||||||||||||||||||||||||||||
| Subordinated debentures | 174,113 | 188,573 | 187,492 | 157,379 | (14,460) | (13,379) | 16,734 | ||||||||||||||||||||||||||||||||||
| Other liabilities | 466,865 | 406,302 | 381,260 | 401,523 | 60,563 | 85,605 | 65,342 | ||||||||||||||||||||||||||||||||||
| Total liabilities | $ | 27,950,943 | 27,285,979 | 27,764,242 | 25,407,339 | 664,964 | 186,701 | 2,543,604 | |||||||||||||||||||||||||||||||||
Total deposits of $25.273 billion at September 30, 2026, increased $619 million, or 10 percent annualized, during the current quarter and increased $3.402 billion, or 16 percent, from the prior year third quarter.
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Excluding a temporary quarter-end deposit expected to largely exit in the fourth quarter, total deposits increased $308 million, or 5 percent annualized, from the prior quarter. Excluding the Guaranty acquisition, total deposits increased $695 million, or 3 percent, from the prior year third quarter.
Non-interest bearing deposits of $7.702 billion at September 30, 2026, increased $279 million, or 15 percent annualized, during the current quarter and increased $1.028 billion, or 15 percent, from the prior year third quarter. Excluding the impact of the temporary quarter-end deposit, non-interest bearing deposits increased $197 million, or 11 percent annualized, from the prior quarter. Non-interest bearing deposits represented 30 percent of total deposits at each of September 30, 2026, and June 30, 2026, compared to 31 percent at September 30, 2025.
Stockholders’ Equity Summary
| $ Change from | |||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| Common equity | $ | 4,546,197 | 4,484,316 | 4,380,931 | 3,801,178 | 61,881 | 165,266 | 745,019 | |||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (206,336) | (171,294) | (167,110) | (192,890) | (35,042) | (39,226) | (13,446) | ||||||||||||||||||||||||||||||||||
Total stockholders’ equity | 4,339,861 | 4,313,022 | 4,213,821 | 3,608,288 | 26,839 | 126,040 | 731,573 | ||||||||||||||||||||||||||||||||||
Goodwill and intangibles, net | (1,469,156) | (1,473,954) | (1,483,552) | (1,182,536) | 4,798 | 14,396 | (286,620) | ||||||||||||||||||||||||||||||||||
Tangible stockholders’ equity (non-GAAP) 1 | $ | 2,870,705 | 2,839,068 | 2,730,269 | 2,425,752 | 31,637 | 140,436 | 444,953 | |||||||||||||||||||||||||||||||||
Stockholders’ equity to total assets | 13.44 | % | 13.65 | % | 13.18 | % | 12.44 | % | |||||||||||||||||||||||||||||||||
Tangible stockholders’ equity to total tangible assets (non-GAAP) 1 | 9.31 | % | 9.42 | % | 8.95 | % | 8.72 | % | |||||||||||||||||||||||||||||||||
Book value per common share | $ | 33.33 | 33.13 | 32.42 | 30.44 | 0.20 | 0.91 | 2.89 | |||||||||||||||||||||||||||||||||
Tangible book value per common share (non-GAAP) 1 | $ | 22.05 | 21.81 | 21.01 | 20.46 | 0.24 | 1.04 | 1.59 | |||||||||||||||||||||||||||||||||
______________________________
1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP.
Tangible stockholders’ equity of $2.871 billion at September 30, 2026, increased $31.6 million, or 1 percent, compared to the prior quarter, primarily due to earnings retention. Tangible stockholders’ equity increased $445 million, or 18 percent, from the prior year third quarter, primarily due to $560 million of Company stock issued in connection with the Guaranty acquisition and earnings retention. The increase was partially offset by the increase in goodwill and core deposit intangible associated with the Guaranty acquisition. Tangible book value per common share of $22.05 at the current quarter end increased $0.24 per share, or 1 percent, from the prior quarter and increased $1.59 per share, or 8 percent, from the prior year third quarter.
Cash Dividends
On September 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.35 per share, an increase of $0.02, or 6 percent, over the prior quarter. The dividend was payable on October 15, 2026, to shareholders of record on October 6, 2026. The dividend was the Company’s 166th consecutive regular dividend. Future cash dividends will depend on a variety of factors, including net income, capital, asset quality, general economic conditions and regulatory considerations.
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Operating Results for Three Months Ended September 30, 2026
Compared to June 30, 2026, March 31, 2026, and September 30, 2025
Income Summary
| Three Months ended | $ Change from | ||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||||||||
| Net interest income | |||||||||||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 379,980 | 365,220 | 362,337 | 325,003 | 14,760 | 17,643 | 54,977 | |||||||||||||||||||||||||||||||||||||||
| Interest expense | 90,084 | 88,792 | 93,660 | 99,624 | 1,292 | (3,576) | (9,540) | ||||||||||||||||||||||||||||||||||||||||
| Total net interest income | 289,896 | 276,428 | 268,677 | 225,379 | 13,468 | 21,219 | 64,517 | ||||||||||||||||||||||||||||||||||||||||
| Non-interest income | |||||||||||||||||||||||||||||||||||||||||||||||
| Deposit service charges and other fees | 17,187 | 16,351 | 15,265 | 14,676 | 836 | 1,922 | 2,511 | ||||||||||||||||||||||||||||||||||||||||
| Payment services | 12,081 | 12,012 | 11,368 | 10,951 | 69 | 713 | 1,130 | ||||||||||||||||||||||||||||||||||||||||
| Miscellaneous loan fees and charges | 2,585 | 2,558 | 2,279 | 2,005 | 27 | 306 | 580 | ||||||||||||||||||||||||||||||||||||||||
| Gain on sale of loans | 4,754 | 5,007 | 5,108 | 5,027 | (253) | (354) | (273) | ||||||||||||||||||||||||||||||||||||||||
| Other income | 3,334 | 5,173 | 4,062 | 2,693 | (1,839) | (728) | 641 | ||||||||||||||||||||||||||||||||||||||||
| Total non-interest income | 39,941 | 41,101 | 38,082 | 35,352 | (1,160) | 1,859 | 4,589 | ||||||||||||||||||||||||||||||||||||||||
| Total income | $ | 329,837 | 317,529 | 306,759 | 260,731 | 12,308 | 23,078 | 69,106 | |||||||||||||||||||||||||||||||||||||||
Net interest margin (tax-equivalent) | 4.01 | % | 3.90 | % | 3.80 | % | 3.39 | % | |||||||||||||||||||||||||||||||||||||||
Core net interest margin (tax-equivalent) (non-GAAP) 1 | 3.95 | % | 3.86 | % | 3.73 | % | 3.35 | % | |||||||||||||||||||||||||||||||||||||||
______________________________
1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP.
Net Interest Income
Net interest income of $290 million for the current quarter increased $13.5 million, or 5 percent, from the prior quarter net interest income of $276 million and increased $64.5 million, or 29 percent, from the prior year third quarter net interest income of $225 million. The current quarter interest income of $380 million increased $14.8 million, or 4 percent, over the prior quarter and increased $55.0 million, or 17 percent, over the prior year third quarter and was primarily driven by both increased loans and increased interest rates on the loan portfolio. The loan yield of 6.22 percent in the current quarter increased 10 basis points from the prior quarter loan yield of 6.12 percent and increased 25 basis points from the prior year third quarter loan yield of 5.97 percent.
The current quarter interest expense of $90.1 million increased $1.3 million, or 1 percent, from the prior quarter. Interest expense decreased $9.5 million, or 10 percent, from the prior year third quarter primarily due to a decrease in interest rates on deposits and a decrease in high cost borrowings. Core deposit cost (including non-interest bearing deposits) decreased to 1.17 percent in the current quarter compared to 1.18 percent in the prior quarter and 1.23 percent in the prior year third quarter. The total funding cost (including non-interest bearing deposits) decreased to 1.32 percent in the current quarter compared to 1.33 percent in the prior quarter and 1.58 percent in the prior year third quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 4.01 percent, an increase of 11 basis points from the prior quarter net interest margin of 3.90 percent and was primarily driven by an increase in earning asset yields and a decrease in deposit costs. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter increased 62 basis points from the prior year third quarter net interest margin of 3.39 percent and was primarily driven by the increase in
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loan yields, the shift in the earning assets mix to higher yielding loans and the decrease in high cost borrowings. Core net interest margin was 3.95 percent in the current quarter compared to 3.86 percent in the prior quarter and 3.35 percent in the prior year third quarter. “The increase in both the net interest income and net interest margin during the current quarter reflects the continued increase in earning assets at higher yields combined with the increase in core deposits at lower costs (including non-interest bearing deposits),” said Ron Copher, Chief Financial Officer. “Over the last eleven consecutive quarters, net interest income has increased from $166 million to $290 million, or 75 percent, with the net interest margin increasing from 2.56 percent to 4.01 percent, or 57 percent.”
Non-interest Income
Non-interest income for the current quarter totaled $39.9 million, which was a decrease of $1.2 million, or 3 percent, over the prior quarter. Non-interest income increased $4.6 million, or 13 percent, over the prior year third quarter. Deposit service charges and other fees of $17.2 million for the current quarter increased $836 thousand, or 5 percent, compared to the prior quarter and increased $2.5 million, or 17 percent, from the prior year third quarter. Payment services of $12.1 million for the current quarter increased $69 thousand, or 1 percent, from the prior quarter and increased $1.1 million, or 10 percent, over the prior year third quarter.
Non-interest Expense Summary
| Three Months ended | $ Change from | ||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||||||||
| Compensation and employee benefits | $ | 120,661 | 116,299 | 115,770 | 96,498 | 4,362 | 4,891 | 24,163 | |||||||||||||||||||||||||||||||||||||||
| Occupancy and equipment | 16,072 | 15,661 | 15,682 | 13,236 | 411 | 390 | 2,836 | ||||||||||||||||||||||||||||||||||||||||
| Advertising and promotions | 5,085 | 5,092 | 5,256 | 4,620 | (7) | (171) | 465 | ||||||||||||||||||||||||||||||||||||||||
| Data processing | 12,240 | 12,380 | 13,273 | 10,634 | (140) | (1,033) | 1,606 | ||||||||||||||||||||||||||||||||||||||||
| Other real estate owned and foreclosed assets | 98 | 83 | 206 | 63 | 15 | (108) | 35 | ||||||||||||||||||||||||||||||||||||||||
| Regulatory assessments and insurance | 5,054 | 5,506 | 6,403 | 5,799 | (452) | (1,349) | (745) | ||||||||||||||||||||||||||||||||||||||||
| Intangibles amortization | 4,798 | 4,799 | 4,799 | 3,813 | (1) | (1) | 985 | ||||||||||||||||||||||||||||||||||||||||
| Other expenses | 27,876 | 26,880 | 39,140 | 33,120 | 996 | (11,264) | (5,244) | ||||||||||||||||||||||||||||||||||||||||
| Total non-interest expense | $ | 191,884 | 186,700 | 200,529 | 167,783 | 5,184 | (8,645) | 24,101 | |||||||||||||||||||||||||||||||||||||||
Total non-interest expense of $192 million for the current quarter increased $5.2 million, or 3 percent, over the prior quarter. Total non-interest expense increased $24.1 million, or 14 percent, over the prior year third quarter and was primarily driven by increased costs from the acquired banks.
Compensation and employee benefits of $121 million for the current quarter increased by $4.4 million, or 4 percent, over the prior quarter, primarily due to increased performance-based compensation. Compensation and employee benefits increased $24.2 million, or 25 percent, from the prior year third quarter and was primarily driven by annual salary increases and increases in staffing levels from the acquired banks. Other expenses of $27.9 million decreased $5.2 million, or 16 percent, from the prior year third quarter and was primarily driven by $6.9 million of decreased acquisition-related expenses.
Acquisition-related expense was $92 thousand in the current quarter compared to $1.6 million in the prior quarter and $7.0 million in the prior year third quarter. In addition, compensation and employee benefits included $1.9 million of expense attributable to acquisition-related employment agreements in the current quarter compared to $2.5 million in the prior quarter and $641 thousand in the prior year third quarter.
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Federal and State Income Tax Expense
Tax expense during the third quarter of 2026 was $28.3 million, an increase of $1.7 million, or 6 percent, compared to the prior quarter and an increase of $10.9 million, or 63 percent, from the prior year third quarter. The effective tax rate in the current quarter was 21.3 percent, compared to 21.4 percent in the prior quarter and 20.4 percent in the prior year third quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior year third quarter was primarily due to an increase in pre-tax income.
Efficiency Ratio
The efficiency ratio was 56.08 percent in the current quarter compared to 56.65 percent in the prior quarter and 62.05 percent in the prior year third quarter. The decrease from the prior quarter and prior year third quarter was primarily driven by an increase in net interest income which outpaced the increase in non-interest expense.
Operating Results for Nine Months. Ended September 30, 2026
Compared to September 30, 2025
Income Summary
| Nine Months ended | |||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Sep 30, 2025 | $ Change | % Change | |||||||||||||||||||
| Net interest income | |||||||||||||||||||||||
| Interest income | $ | 1,107,537 | $ | 923,043 | $ | 184,494 | 20 | % | |||||||||||||||
| Interest expense | 272,536 | 300,069 | (27,533) | (9) | % | ||||||||||||||||||
| Total net interest income | 835,001 | 622,974 | 212,027 | 34 | % | ||||||||||||||||||
| Non-interest income | |||||||||||||||||||||||
| Deposit service charges and other fees | 48,803 | 41,801 | 7,002 | 17 | % | ||||||||||||||||||
| Payment Services | 35,461 | 30,736 | 4,725 | 15 | % | ||||||||||||||||||
| Miscellaneous loan fees and charges | 7,422 | 5,586 | 1,836 | 33 | % | ||||||||||||||||||
| Gain on sale of loans | 14,869 | 13,611 | 1,258 | 9 | % | ||||||||||||||||||
| Other income | 12,569 | 9,204 | 3,365 | 37 | % | ||||||||||||||||||
| Total non-interest income | 119,124 | 100,938 | 18,186 | 18 | % | ||||||||||||||||||
| Total Income | $ | 954,125 | $ | 723,912 | $ | 230,213 | 32 | % | |||||||||||||||
| Net interest margin (tax-equivalent) | 3.90 | % | 3.21 | % | |||||||||||||||||||
Core net interest margin (tax-equivalent) (non-GAAP) 1 | 3.85 | % | 3.17 | % | |||||||||||||||||||
______________________________
1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP.
Net Interest Income
Net interest income of $835 million for the first nine months of 2026 increased $212 million, or 34 percent, from the first nine months of the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $1.108 billion for the first nine months of 2026 increased $184 million, or 20 percent, from the prior year and was primarily attributable to the increase in the loan portfolio and an increase in loan yields. The loan yield was 6.17 percent during the first nine months of 2026, an increase of 30 basis points from the prior year first nine months loan yield of 5.87 percent.
Interest expense of $273 million for the first nine months of 2026 decreased $27.5 million, or 9 percent, over the same period in the prior year and was primarily the result of lower interest rates on deposits and a decrease in higher cost borrowings. Core deposit cost (including non-interest bearing deposits) was 1.18 percent for the first nine months of 2026, which was a decrease of 6 basis points over the first nine months of the prior year
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core deposit cost of 1.24 percent. The total funding cost (including non-interest bearing deposits) for the first nine months of 2026 was 1.35 percent, which was a decrease of 28 basis points over the first nine months of the prior year funding cost of 1.63 percent.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first nine months of 2026 was 3.90 percent, a 69 basis points increase from the net interest margin of 3.21 percent for the first nine months of the prior year. Core net interest margin during the first nine months of 2026 was 3.85 percent compared to 3.17 percent in the prior year first nine months. The increase in net interest margin from the prior year was primarily driven by a 30 basis points increase in loan yields and a 28 basis points decrease in total funding costs, combined with a shift in earning asset mix to higher yielding loans and a shift in funding liabilities to lower cost deposits.
Non-interest Income
Non-interest income of $119 million for the first nine months of 2026 increased $18.2 million, or 18 percent, over the first nine months of the prior year and was primarily driven by increased income from the acquired banks. Deposit service charges and other fees of $48.8 million for the first nine months of 2026 increased $7.0 million, or 17 percent, over the first nine months of the prior year. Payment services of $35.5 million for the first nine months of 2026 increased by $4.7 million, or 15 percent, over the first nine months of the prior year.
Non-interest Expense Summary
| Nine Months ended | |||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Sep 30, 2025 | $ Change | % Change | |||||||||||||||||||
| Compensation and employee benefits | $ | 352,730 | $ | 282,296 | $ | 70,434 | 25 | % | |||||||||||||||
| Occupancy and equipment | 47,415 | 38,088 | 9,327 | 24 | % | ||||||||||||||||||
| Advertising and promotions | 15,433 | 13,158 | 2,275 | 17 | % | ||||||||||||||||||
| Data processing | 37,893 | 29,655 | 8,238 | 28 | % | ||||||||||||||||||
| Other real estate owned and foreclosed assets | 387 | 152 | 235 | 155 | % | ||||||||||||||||||
| Regulatory assessments and insurance | 16,963 | 17,180 | (217) | (1) | % | ||||||||||||||||||
| Core deposit intangibles amortization | 14,396 | 10,707 | 3,689 | 34 | % | ||||||||||||||||||
| Other expenses | 93,896 | 82,984 | 10,912 | 13 | % | ||||||||||||||||||
| Total non-interest expense | $ | 579,113 | $ | 474,220 | $ | 104,893 | 22 | % | |||||||||||||||
Total non-interest expense of $579 million for the first nine months of 2026 increased $105 million, or 22 percent, over the first nine months of the prior year and was primarily driven by increased costs from the acquired banks. Compensation and employee benefits expense of $353 million in the first nine months of 2026 increased $70.4 million, or 25 percent, over the first nine months of the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Occupancy and equipment expense of $47.4 million in the first nine months of 2026 increased $9.3 million, or 24 percent, over the first nine months of the prior year primarily due to increased costs from the acquired banks. Data processing expense of $37.9 million in the first nine months of 2026 increased $8.2 million, or 28 percent, over the first nine months of the prior year primarily due to increased costs from the acquired banks. Other expenses of $93.9 million for the first nine months of 2026 increased $10.9 million, or 13 percent, from the first nine months of the prior year and was primarily driven by an increase in costs from acquisitions.
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Acquisition-related expense was $10.6 million in the first nine months of the current year compared to $10.8 million in the prior year first nine months. In addition, compensation and employee benefits included $7.1 million of expense attributable to acquisition-related employment agreements in the first nine months of the current year compared to $1.4 million in the first nine months of the prior year.
Provision for Credit Losses
The provision for credit loss expense was $17.5 million for the first nine months of 2026, a decrease of $18.2 million, or 51 percent, over the same period in the prior year. Included in the first nine months of the prior year provision for credit losses was $16.7 million from the acquisition of Bank of Idaho Holding Co. and its subsidiary, Bank of Idaho. Net charge-offs for the first nine months of 2026 were $14.9 million compared to $6.4 million in the first nine months of 2025.
Federal and State Income Tax Expense
Tax expense of $72.9 million for the first nine months of 2026 increased $34.2 million, or 88 percent, over the same period in the prior year. The effective tax rate for the first nine months of 2026 was 20.4 percent compared to 18.1 percent for the same period in the prior year. The increases in tax expense and the effective tax rate were primarily the result of an increase in the pre-tax income.
Efficiency Ratio
The efficiency ratio was 58.51 percent for the first nine months of 2026 compared to 63.12 percent for the same period of 2025. The decrease from the prior year was primarily attributable to the increase in net interest income that outpaced the increase in non-interest expense.
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Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “will,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:
•risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
•changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
•legislative or regulatory changes, including the possibility of increases in FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increases or changes in banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
•risks related to overall economic conditions, including the impact on the economy of an uncertain interest rate environment, inflationary pressures, recently passed legislation and the potential for significant additional changes in economic and trade policies in the current administration;
•risks to the Company’s business and the business of the Company’s customers arising from current or future tariffs or other trade restrictions, labor or supply chain issues, change in labor force, or geopolitical instability, including the wars in Iran and Ukraine, further conflicts in the Middle East, and potential for future conflicts or disruptions in other parts of the world;
•risks associated with the Company’s ability to negotiate, complete, and successfully integrate acquisitions;
•impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital;
•reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition;
•deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company's ability to obtain and maintain customers;
•changes in the competitive landscape, including as may result from new market entrants, additional competition from internet-based financial institutions operating nationally, or further consolidation in the financial services industry, resulting in increased competition, including the creation of larger competitors with greater financial resources;
•risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions;
•risks related to rapidly evolving artificial intelligence technologies;
•risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions;
•material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities;
•risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events;
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•success in managing risks involved in any of the foregoing; and
•effects of any reputational damage to the Company resulting from any of the foregoing.
The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.
Conference Call Information
A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, October 23, 2026. Please note that our conference call host no longer offers a general dial-in number. Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register-conf.media-server.com/register/BIf897ad06750d4ea68674bf70f03fbe10. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/xhafbtnc.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. (NYSE: GBCI), a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its nine state footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Guaranty Bank & Trust (Mount Pleasant, TX), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).
Non-GAAP Financial Measures
Certain financial measures and ratios the Company presents are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). The Company refers to these financial measures and ratios as “non-GAAP financial measures.” A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is provided in the tables within this press release. The Company considers the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and in evaluating period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain income, expense, or intangible items that the Company believes are not indicative of its primary business operating results.
These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and investors should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures presented may differ from non-GAAP financial measures used by the Company’s peers or other companies. The Company compensates for these differences by providing the equivalent GAAP measures whenever the Company presents the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance.
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Glacier Bancorp, Inc.
Unaudited Condensed Consolidated Statements of Financial Condition
| (Dollars in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||||||||
| Assets | |||||||||||||||||||||||
| Cash on hand and in banks | $ | 290,640 | 353,748 | 321,526 | 312,506 | ||||||||||||||||||
| Interest bearing cash deposits | 1,216,141 | 702,931 | 913,735 | 541,738 | |||||||||||||||||||
| Cash and cash equivalents | 1,506,781 | 1,056,679 | 1,235,261 | 854,244 | |||||||||||||||||||
| Debt securities, available-for-sale | 3,595,063 | 3,482,725 | 4,007,512 | 3,916,189 | |||||||||||||||||||
| Debt securities, held-to-maturity | 2,817,933 | 3,004,758 | 3,110,216 | 3,155,901 | |||||||||||||||||||
| Total debt securities | 6,412,996 | 6,487,483 | 7,117,728 | 7,072,090 | |||||||||||||||||||
| Loans held for sale, at fair value | 37,611 | 45,145 | 39,186 | 42,668 | |||||||||||||||||||
| Loans receivable | 21,619,530 | 21,363,723 | 20,927,796 | 18,790,986 | |||||||||||||||||||
| Allowance for credit losses | (259,668) | (260,025) | (255,319) | (229,077) | |||||||||||||||||||
| Loans receivable, net | 21,359,862 | 21,103,698 | 20,672,477 | 18,561,909 | |||||||||||||||||||
| Premises and equipment, net | 497,590 | 493,497 | 486,184 | 427,271 | |||||||||||||||||||
| Right-of-use assets, net | 73,983 | 76,428 | 75,574 | 54,502 | |||||||||||||||||||
| Other real estate owned and foreclosed assets | 5,220 | 1,541 | 411 | 1,413 | |||||||||||||||||||
| Accrued interest receivable | 131,863 | 120,254 | 120,092 | 120,257 | |||||||||||||||||||
| Deferred tax asset | 115,077 | 102,902 | 101,337 | 99,702 | |||||||||||||||||||
| Intangibles, net | 90,873 | 95,671 | 105,269 | 61,135 | |||||||||||||||||||
| Goodwill | 1,378,283 | 1,378,283 | 1,378,283 | 1,121,401 | |||||||||||||||||||
| Federal Home Loan Bank stock, at cost | 21,305 | 21,244 | 42,764 | 61,362 | |||||||||||||||||||
| Bank-owned life insurance | 237,496 | 235,984 | 235,090 | 191,996 | |||||||||||||||||||
| Other assets | 421,864 | 380,192 | 368,407 | 345,677 | |||||||||||||||||||
| Total assets | $ | 32,290,804 | 31,599,001 | 31,978,063 | 29,015,627 | ||||||||||||||||||
| Liabilities | |||||||||||||||||||||||
| Non-interest bearing deposits | $ | 7,702,429 | 7,423,439 | 7,314,779 | 6,674,441 | ||||||||||||||||||
| Interest bearing deposits | 17,570,308 | 17,230,678 | 17,276,317 | 15,196,508 | |||||||||||||||||||
| Securities sold under agreements to repurchase | 1,954,925 | 1,952,501 | 2,084,113 | 2,004,286 | |||||||||||||||||||
| FHLB advances | — | — | 440,000 | 895,022 | |||||||||||||||||||
| Other borrowed funds | 51,744 | 52,880 | 51,473 | 59,779 | |||||||||||||||||||
| Finance lease liabilities | 30,559 | 31,606 | 28,808 | 18,401 | |||||||||||||||||||
| Subordinated debentures | 174,113 | 188,573 | 187,492 | 157,379 | |||||||||||||||||||
| Accrued interest payable | 32,871 | 29,542 | 32,786 | 27,733 | |||||||||||||||||||
| Operating lease liabilities | 50,039 | 51,320 | 52,869 | 41,367 | |||||||||||||||||||
| Other liabilities | 383,955 | 325,440 | 295,605 | 332,423 | |||||||||||||||||||
| Total liabilities | 27,950,943 | 27,285,979 | 27,764,242 | 25,407,339 | |||||||||||||||||||
| Commitments and Contingent Liabilities | — | — | — | — | |||||||||||||||||||
| Stockholders’ Equity | |||||||||||||||||||||||
Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding | — | — | — | — | |||||||||||||||||||
Common stock, $0.01 par value per share, 234,000,000 shares authorized | 1,302 | 1,302 | 1,300 | 1,186 | |||||||||||||||||||
| Paid-in capital | 3,232,684 | 3,229,635 | 3,220,064 | 2,657,469 | |||||||||||||||||||
| Retained earnings - substantially restricted | 1,312,211 | 1,253,379 | 1,159,567 | 1,142,523 | |||||||||||||||||||
| Accumulated other comprehensive loss | (206,336) | (171,294) | (167,110) | (192,890) | |||||||||||||||||||
| Total stockholders’ equity | 4,339,861 | 4,313,022 | 4,213,821 | 3,608,288 | |||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 32,290,804 | 31,599,001 | 31,978,063 | 29,015,627 | ||||||||||||||||||
15
Glacier Bancorp, Inc.
Unaudited Condensed Consolidated Statements of Operations
| Three Months ended | Nine Months ended | ||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||||||||||||||||||||
| Investment securities | $ | 44,964 | 42,890 | 45,126 | 45,348 | 132,980 | 135,142 | ||||||||||||||||||||||||||||||||||
| Residential real estate loans | 29,655 | 30,104 | 33,708 | 26,335 | 93,467 | 75,971 | |||||||||||||||||||||||||||||||||||
| Commercial loans | 279,000 | 266,123 | 258,616 | 228,363 | 803,739 | 640,567 | |||||||||||||||||||||||||||||||||||
| Consumer and other loans | 26,361 | 26,103 | 24,887 | 24,957 | 77,351 | 71,363 | |||||||||||||||||||||||||||||||||||
| Total interest income | 379,980 | 365,220 | 362,337 | 325,003 | 1,107,537 | 923,043 | |||||||||||||||||||||||||||||||||||
| Interest Expense | |||||||||||||||||||||||||||||||||||||||||
| Deposits | 72,861 | 71,972 | 72,251 | 67,346 | 217,084 | 195,780 | |||||||||||||||||||||||||||||||||||
Securities sold under agreements to repurchase | 13,582 | 13,227 | 13,619 | 14,706 | 40,428 | 42,548 | |||||||||||||||||||||||||||||||||||
| Federal Home Loan Bank advances | — | — | 4,226 | 14,271 | 4,226 | 52,796 | |||||||||||||||||||||||||||||||||||
Other borrowed funds | 459 | 455 | 443 | 385 | 1,357 | 1,187 | |||||||||||||||||||||||||||||||||||
| Subordinated debentures | 3,182 | 3,138 | 3,121 | 2,916 | 9,441 | 7,758 | |||||||||||||||||||||||||||||||||||
| Total interest expense | 90,084 | 88,792 | 93,660 | 99,624 | 272,536 | 300,069 | |||||||||||||||||||||||||||||||||||
| Net Interest Income | 289,896 | 276,428 | 268,677 | 225,379 | 835,001 | 622,974 | |||||||||||||||||||||||||||||||||||
| Provision for credit losses | 5,109 | 6,355 | 6,064 | 7,656 | 17,528 | 35,737 | |||||||||||||||||||||||||||||||||||
Net interest income after provision for credit losses | 284,787 | 270,073 | 262,613 | 217,723 | 817,473 | 587,237 | |||||||||||||||||||||||||||||||||||
| Non-Interest Income | |||||||||||||||||||||||||||||||||||||||||
| Deposit service charges and other fees | 17,187 | 16,351 | 15,265 | 14,676 | 48,803 | 41,801 | |||||||||||||||||||||||||||||||||||
| Payment services | 12,081 | 12,012 | 11,368 | 10,951 | 35,461 | 30,736 | |||||||||||||||||||||||||||||||||||
| Miscellaneous loan fees and charges | 2,585 | 2,558 | 2,279 | 2,005 | 7,422 | 5,586 | |||||||||||||||||||||||||||||||||||
| Gain on sale of loans | 4,754 | 5,007 | 5,108 | 5,027 | 14,869 | 13,611 | |||||||||||||||||||||||||||||||||||
| Gain (loss) on sale of securities | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Other income | 3,334 | 5,173 | 4,062 | 2,693 | 12,569 | 9,204 | |||||||||||||||||||||||||||||||||||
| Total non-interest income | 39,941 | 41,101 | 38,082 | 35,352 | 119,124 | 100,938 | |||||||||||||||||||||||||||||||||||
| Non-Interest Expense | |||||||||||||||||||||||||||||||||||||||||
| Compensation and employee benefits | 120,661 | 116,299 | 115,770 | 96,498 | 352,730 | 282,296 | |||||||||||||||||||||||||||||||||||
| Occupancy and equipment | 16,072 | 15,661 | 15,682 | 13,236 | 47,415 | 38,088 | |||||||||||||||||||||||||||||||||||
| Advertising and promotions | 5,085 | 5,092 | 5,256 | 4,620 | 15,433 | 13,158 | |||||||||||||||||||||||||||||||||||
| Data processing | 12,240 | 12,380 | 13,273 | 10,634 | 37,893 | 29,655 | |||||||||||||||||||||||||||||||||||
| Other real estate owned and foreclosed assets | 98 | 83 | 206 | 63 | 387 | 152 | |||||||||||||||||||||||||||||||||||
Regulatory assessments and insurance | 5,054 | 5,506 | 6,403 | 5,799 | 16,963 | 17,180 | |||||||||||||||||||||||||||||||||||
| Intangibles amortization | 4,798 | 4,799 | 4,799 | 3,813 | 14,396 | 10,707 | |||||||||||||||||||||||||||||||||||
| Other expenses | 27,876 | 26,880 | 39,140 | 33,120 | 93,896 | 82,984 | |||||||||||||||||||||||||||||||||||
| Total non-interest expense | 191,884 | 186,700 | 200,529 | 167,783 | 579,113 | 474,220 | |||||||||||||||||||||||||||||||||||
| Income Before Income Taxes | 132,844 | 124,474 | 100,166 | 85,292 | 357,484 | 213,955 | |||||||||||||||||||||||||||||||||||
| Federal and state income tax expense | 28,282 | 26,612 | 18,022 | 17,392 | 72,916 | 38,706 | |||||||||||||||||||||||||||||||||||
| Net Income | $ | 104,562 | 97,862 | 82,144 | 67,900 | 284,568 | 175,249 | ||||||||||||||||||||||||||||||||||
16
Glacier Bancorp, Inc.
Non-GAAP Financial Measures and Reconciliations
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||||||||
| Tangible Equity | |||||||||||||||||||||||
| Total stockholders’ equity | $ | 4,339,861 | 4,313,022 | 4,213,821 | 3,608,288 | ||||||||||||||||||
| Less: goodwill and intangible assets, net | (1,469,156) | (1,473,954) | (1,483,552) | (1,182,536) | |||||||||||||||||||
| Tangible stockholders' equity (non-GAAP) | $ | 2,870,705 | 2,839,068 | 2,730,269 | 2,425,752 | ||||||||||||||||||
| Tangible Assets | |||||||||||||||||||||||
| Total assets | $ | 32,290,804 | 31,599,001 | 31,978,063 | 29,015,627 | ||||||||||||||||||
| Less: goodwill and intangible assets, net | (1,469,156) | (1,473,954) | (1,483,552) | (1,182,536) | |||||||||||||||||||
| Tangible assets (non-GAAP) | $ | 30,821,648 | 30,125,047 | 30,494,511 | 27,833,091 | ||||||||||||||||||
| Tangible equity to tangible assets (non-GAAP) | 9.31 | % | 9.42 | % | 8.95 | % | 8.72 | % | |||||||||||||||
| Book value per share | $ | 33.33 | $ | 33.13 | $ | 32.42 | $ | 30.44 | |||||||||||||||
| Tangible book value per share (non-GAAP) | $ | 22.05 | $ | 21.81 | $ | 21.01 | $ | 20.46 | |||||||||||||||
At or for the Three Months ended | At or for the Nine Months ended | ||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | |||||||||||||||||||||||||||||
| Core Net Interest Margin | |||||||||||||||||||||||||||||||||||
Net interest income (tax equivalent) 1 | $ | 293,484 | 280,016 | 272,383 | 228,835 | 845,883 | 633,317 | ||||||||||||||||||||||||||||
| Purchase accounting | (4,122) | (3,832) | (5,140) | (2,310) | (13,095) | (7,774) | |||||||||||||||||||||||||||||
| Non-accrual loan interest reversal (recovery) | 130 | 825 | (42) | (104) | 914 | 100 | |||||||||||||||||||||||||||||
| Core net interest income (tax equivalent) (non-GAAP) | $ | 289,492 | 277,009 | 267,201 | 226,421 | 833,702 | 625,643 | ||||||||||||||||||||||||||||
| Average earning assets | $ | 29,069,918 | 28,793,343 | 29,078,665 | 26,815,927 | 28,980,610 | 26,353,065 | ||||||||||||||||||||||||||||
| Net interest margin (tax equivalent) | 4.01 | % | 3.90 | % | 3.80 | % | 3.39 | % | 3.90 | % | 3.21 | % | |||||||||||||||||||||||
| Core net interest margin (tax equivalent) (non-GAAP) | 3.95 | % | 3.86 | % | 3.73 | % | 3.35 | % | 3.85 | % | 3.17 | % | |||||||||||||||||||||||
______________________________
1 Includes tax effect of $3.6 million, $3.6 million $3.7 million and $3.5 million on tax-exempt municipal loan and lease income, tax-exempt debt securities income and federal income tax credits for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, and September 30, 2025, respectively. Includes tax effect of $10.9 million and $10.3 million on tax-exempt municipal loan and lease income, tax-exempt debt securities income and federal income tax credits for the nine months ended September 30, 2026, and September 30, 2025, respectively.
17
Glacier Bancorp, Inc.
Non-GAAP Financial Measures and Reconciliations (continued)
At or for the Three Months ended | At or for the Nine Months ended | ||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | |||||||||||||||||||||||||||||
| Operating Diluted Earnings Per Share | |||||||||||||||||||||||||||||||||||
| Net income | $ | 104,562 | 97,862 | 82,144 | 67,900 | 284,568 | 175,249 | ||||||||||||||||||||||||||||
| Provision for credit losses - acquisition ACL expense | — | — | — | — | — | 16,693 | |||||||||||||||||||||||||||||
| Operating adjustments - non-interest income | |||||||||||||||||||||||||||||||||||
| BOLI proceeds | — | (63) | (776) | (251) | (839) | (1,364) | |||||||||||||||||||||||||||||
| Total operating adjustments - non-interest income | — | (63) | (776) | (251) | (839) | (1,364) | |||||||||||||||||||||||||||||
| Operating adjustments - non-interest expense | |||||||||||||||||||||||||||||||||||
| Acquisition-related compensation | 1,874 | 2,462 | 2,775 | 641 | 7,110 | 1,436 | |||||||||||||||||||||||||||||
| Lease terminations | — | — | 200 | — | 200 | — | |||||||||||||||||||||||||||||
| FDIC special assessment | — | — | (87) | — | (87) | (219) | |||||||||||||||||||||||||||||
| (Gain) loss on fixed assets | (844) | (2,618) | 445 | 928 | (3,017) | (1,694) | |||||||||||||||||||||||||||||
| Acquisition-related expense | 92 | 1,590 | 8,907 | 6,976 | 10,589 | 10,793 | |||||||||||||||||||||||||||||
| Total operating adjustments - non-interest expense | 1,122 | 1,434 | 12,240 | 8,545 | 14,795 | 10,316 | |||||||||||||||||||||||||||||
| Tax impact | (278) | (341) | (3,028) | (2,121) | (3,647) | (6,553) | |||||||||||||||||||||||||||||
| Net operating adjustments | 844 | 1,030 | 8,436 | 6,173 | 10,309 | 19,092 | |||||||||||||||||||||||||||||
| Operating net income (non-GAAP) | $ | 105,406 | 98,892 | 90,580 | 74,073 | 294,877 | 194,341 | ||||||||||||||||||||||||||||
| Weighted average diluted common shares outstanding | 130,433,235 | 130,346,888 | 130,242,765 | 118,628,434 | 130,324,260 | 116,382,822 | |||||||||||||||||||||||||||||
| Diluted EPS | $ | 0.80 | $ | 0.75 | $ | 0.63 | $ | 0.57 | $ | 2.18 | $ | 1.51 | |||||||||||||||||||||||
| Operating diluted EPS (non-GAAP) | $ | 0.81 | $ | 0.76 | $ | 0.70 | $ | 0.62 | $ | 2.26 | $ | 1.67 | |||||||||||||||||||||||
18
Glacier Bancorp, Inc.
Non-GAAP Financial Measures and Reconciliations (continued)
At or for the Three Months ended | At or for the Nine Months ended | ||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||
| Operating Efficiency Ratio | |||||||||||||||||||||||||||||||||||||||||
| Non-interest expense | $ | 191,884 | $ | 186,700 | $ | 200,529 | $ | 167,783 | $ | 579,113 | $ | 474,220 | |||||||||||||||||||||||||||||
| OREO expense | (91) | (60) | (16) | (65) | (168) | (97) | |||||||||||||||||||||||||||||||||||
| Intangible amortization | (4,798) | (4,799) | (4,799) | (3,813) | (14,396) | (10,707) | |||||||||||||||||||||||||||||||||||
| Total expenses | 186,995 | 181,841 | 195,714 | 163,905 | 564,549 | 463,416 | |||||||||||||||||||||||||||||||||||
| Operating expense adjustments (pre-tax) | (1,122) | (1,434) | (12,240) | (8,545) | (14,795) | (10,316) | |||||||||||||||||||||||||||||||||||
| Total operating non-interest expense (non-GAAP) | 185,873 | 180,407 | 183,474 | 155,360 | 549,754 | 453,100 | |||||||||||||||||||||||||||||||||||
| Net interest income (tax equivalent) | 293,484 | 280,016 | 272,383 | 228,835 | 845,883 | 633,317 | |||||||||||||||||||||||||||||||||||
| Non-interest income | 39,941 | 41,101 | 38,082 | 35,352 | 119,124 | 100,938 | |||||||||||||||||||||||||||||||||||
| OREO income | (7) | (110) | (35) | (35) | (152) | (35) | |||||||||||||||||||||||||||||||||||
| Total revenues | 333,418 | 321,007 | 310,430 | 264,152 | 964,855 | 734,220 | |||||||||||||||||||||||||||||||||||
| Operating revenue adjustments (pre-tax) | — | (63) | (776) | (251) | (839) | (1,364) | |||||||||||||||||||||||||||||||||||
| Total revenues (non-GAAP) | $ | 333,418 | 320,944 | 309,654 | 263,901 | 964,016 | 732,856 | ||||||||||||||||||||||||||||||||||
| Efficiency ratio | 56.08 | % | 56.65 | % | 63.05 | % | 62.05 | % | 58.51 | % | 63.12 | % | |||||||||||||||||||||||||||||
| Efficiency ratio (non-GAAP) | 55.75 | % | 56.21 | % | 59.25 | % | 58.87 | % | 57.03 | % | 61.83 | % | |||||||||||||||||||||||||||||
19
Glacier Bancorp, Inc.
Average Balance Sheets
| Three Months ended | |||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | ||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Average Balance | Interest & Dividends | Average Yield/ Rate | Average Balance | Interest & Dividends | Average Yield/ Rate | |||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Residential real estate loans | $ | 2,118,156 | $ | 29,655 | 5.60 | % | $ | 2,172,055 | $ | 30,104 | 5.54 | % | |||||||||||||||||||||||
Commercial loans 1 | 17,879,132 | 280,597 | 6.23 | % | 17,562,322 | 267,705 | 6.11 | % | |||||||||||||||||||||||||||
| Consumer and other loans | 1,476,570 | 26,361 | 7.08 | % | 1,479,518 | 26,103 | 7.08 | % | |||||||||||||||||||||||||||
Total loans 2 | 21,473,858 | 336,613 | 6.22 | % | 21,213,895 | 323,912 | 6.12 | % | |||||||||||||||||||||||||||
Tax-exempt debt securities 3 | 1,604,570 | 14,127 | 3.52 | % | 1,624,487 | 14,246 | 3.51 | % | |||||||||||||||||||||||||||
Taxable debt securities 4, 5 | 5,991,490 | 32,828 | 2.19 | % | 5,954,961 | 30,650 | 2.06 | % | |||||||||||||||||||||||||||
| Total earning assets | 29,069,918 | 383,568 | 5.23 | % | 28,793,343 | 368,808 | 5.14 | % | |||||||||||||||||||||||||||
| Goodwill and intangibles | 1,471,485 | 1,476,292 | |||||||||||||||||||||||||||||||||
| Non-earning assets | 1,229,424 | 1,201,401 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 31,770,827 | $ | 31,471,036 | |||||||||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Non-interest bearing deposits | $ | 7,535,227 | $ | — | — | % | $ | 7,298,710 | $ | — | — | % | |||||||||||||||||||||||
| NOW and DDA accounts | 6,135,597 | 16,128 | 1.04 | % | 6,206,979 | 16,103 | 1.04 | % | |||||||||||||||||||||||||||
| Savings accounts | 3,198,811 | 5,768 | 0.72 | % | 3,170,155 | 5,451 | 0.69 | % | |||||||||||||||||||||||||||
| Money market deposit accounts | 4,150,413 | 21,397 | 2.05 | % | 4,052,361 | 20,154 | 1.99 | % | |||||||||||||||||||||||||||
| Certificate accounts | 3,720,634 | 29,537 | 3.15 | % | 3,807,368 | 30,233 | 3.18 | % | |||||||||||||||||||||||||||
| Total core deposits | 24,740,682 | 72,830 | 1.17 | % | 24,535,573 | 71,941 | 1.18 | % | |||||||||||||||||||||||||||
Wholesale deposits 6 | 3,224 | 31 | 3.81 | % | 3,337 | 31 | 3.77 | % | |||||||||||||||||||||||||||
| Repurchase agreements | 2,002,455 | 13,582 | 2.69 | % | 1,995,035 | 13,227 | 2.66 | % | |||||||||||||||||||||||||||
| FHLB advances | — | — | — | % | 55 | — | 3.87 | % | |||||||||||||||||||||||||||
| Subordinated debentures and other borrowed funds | 272,160 | 3,641 | 5.31 | % | 271,589 | 3,593 | 5.31 | % | |||||||||||||||||||||||||||
| Total funding liabilities | 27,018,521 | 90,084 | 1.32 | % | 26,805,589 | 88,792 | 1.33 | % | |||||||||||||||||||||||||||
| Other liabilities | 399,951 | 364,792 | |||||||||||||||||||||||||||||||||
| Total liabilities | 27,418,472 | 27,170,381 | |||||||||||||||||||||||||||||||||
| Stockholders’ Equity | |||||||||||||||||||||||||||||||||||
| Stockholders’ equity | 4,352,355 | 4,300,655 | |||||||||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 31,770,827 | $ | 31,471,036 | |||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent) | $ | 293,484 | $ | 280,016 | |||||||||||||||||||||||||||||||
| Net interest spread (tax-equivalent) | 3.91 | % | 3.81 | % | |||||||||||||||||||||||||||||||
| Net interest margin (tax-equivalent) | 4.01 | % | 3.90 | % | |||||||||||||||||||||||||||||||
______________________________
1 Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2026, and June 30, 2026, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $1.9 million and $1.9 million on tax-exempt debt securities income for the three months ended September 30, 2026, and June 30, 2026, respectively.
4 Includes interest income of $7.2 million and $7.0 million on average interest-bearing cash balances of $765.3 million and $772.3 million for the three months ended September 30, 2026, and June 30, 2026, respectively.
5 Includes tax effect of $69 thousand and $68 thousand on federal income tax credits for the three months ended September 30, 2026, and June 30, 2026, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
20
Glacier Bancorp, Inc.
Average Balance Sheets (continued)
| Three Months ended | |||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Average Balance | Interest & Dividends | Average Yield/ Rate | Average Balance | Interest & Dividends | Average Yield/ Rate | |||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Residential real estate loans | $ | 2,118,156 | $ | 29,655 | 5.60 | % | $ | 1,962,831 | $ | 26,335 | 5.37 | % | |||||||||||||||||||||||
Commercial loans 1 | 17,879,132 | 280,597 | 6.23 | % | 15,351,367 | 229,915 | 5.94 | % | |||||||||||||||||||||||||||
| Consumer and other loans | 1,476,570 | 26,361 | 7.08 | % | 1,363,996 | 24,957 | 7.26 | % | |||||||||||||||||||||||||||
Total loans 2 | 21,473,858 | 336,613 | 6.22 | % | 18,678,194 | 281,207 | 5.97 | % | |||||||||||||||||||||||||||
Tax-exempt debt securities 3 | 1,604,570 | 14,127 | 3.52 | % | 1,583,554 | 14,068 | 3.55 | % | |||||||||||||||||||||||||||
Taxable debt securities 4, 5 | 5,991,490 | 32,828 | 2.19 | % | 6,554,179 | 33,185 | 2.03 | % | |||||||||||||||||||||||||||
| Total earning assets | 29,069,918 | 383,568 | 5.23 | % | 26,815,927 | 328,460 | 4.86 | % | |||||||||||||||||||||||||||
| Goodwill and intangibles | 1,471,485 | 1,184,370 | |||||||||||||||||||||||||||||||||
| Non-earning assets | 1,229,424 | 987,070 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 31,770,827 | $ | 28,987,367 | |||||||||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Non-interest bearing deposits | $ | 7,535,227 | $ | — | — | % | $ | 6,550,398 | $ | — | — | % | |||||||||||||||||||||||
| NOW and DDA accounts | 6,135,597 | 16,128 | 1.04 | % | 5,734,329 | 16,483 | 1.14 | % | |||||||||||||||||||||||||||
| Savings accounts | 3,198,811 | 5,768 | 0.72 | % | 2,995,538 | 5,843 | 0.77 | % | |||||||||||||||||||||||||||
| Money market deposit accounts | 4,150,413 | 21,397 | 2.05 | % | 3,136,019 | 16,783 | 2.12 | % | |||||||||||||||||||||||||||
| Certificate accounts | 3,720,634 | 29,537 | 3.15 | % | 3,217,199 | 28,195 | 3.48 | % | |||||||||||||||||||||||||||
| Total core deposits | 24,740,682 | 72,830 | 1.17 | % | 21,633,483 | 67,304 | 1.23 | % | |||||||||||||||||||||||||||
Wholesale deposits 6 | 3,224 | 31 | 3.81 | % | 3,649 | 42 | 4.48 | % | |||||||||||||||||||||||||||
| Repurchase agreements | 2,002,455 | 13,582 | 2.69 | % | 1,986,620 | 14,706 | 2.94 | % | |||||||||||||||||||||||||||
| FHLB advances | — | — | — | % | 1,192,493 | 14,271 | 4.68 | % | |||||||||||||||||||||||||||
| Subordinated debentures and other borrowed funds | 272,160 | 3,641 | 5.31 | % | 236,375 | 3,301 | 5.54 | % | |||||||||||||||||||||||||||
| Total funding liabilities | 27,018,521 | 90,084 | 1.32 | % | 25,052,620 | 99,624 | 1.58 | % | |||||||||||||||||||||||||||
| Other liabilities | 399,951 | 353,452 | |||||||||||||||||||||||||||||||||
| Total liabilities | 27,418,472 | 25,406,072 | |||||||||||||||||||||||||||||||||
| Stockholders’ Equity | |||||||||||||||||||||||||||||||||||
| Stockholders’ equity | 4,352,355 | 3,581,295 | |||||||||||||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 31,770,827 | $ | 28,987,367 | |||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent) | $ | 293,484 | $ | 228,836 | |||||||||||||||||||||||||||||||
| Net interest spread (tax-equivalent) | 3.91 | % | 3.28 | % | |||||||||||||||||||||||||||||||
| Net interest margin (tax-equivalent) | 4.01 | % | 3.39 | % | |||||||||||||||||||||||||||||||
1 Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2026, and 2025, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $1.9 million and $1.8 million on tax-exempt debt securities income for the three months ended September 30, 2026, and 2025, respectively.
4 Includes interest income of $7.2 million and $6.7 million on average interest-bearing cash balances of $765.3 million and $600.3 million for the three months ended September 30, 2026, and 2025, respectively.
5 Includes tax effect of $69 thousand and $150 thousand on federal income tax credits for the three months ended September 30, 2026, and 2025, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
21
Glacier Bancorp, Inc.
Average Balance Sheets (continued)
| Nine Months ended | |||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Average Balance | Interest & Dividends | Average Yield/ Rate | Average Balance | Interest & Dividends | Average Yield/ Rate | |||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Residential real estate loans | $ | 2,216,004 | $ | 93,467 | 5.62 | % | $ | 1,929,897 | $ | 75,971 | 5.25 | % | |||||||||||||||||||||||
Commercial loans 1 | 17,551,741 | 808,589 | 6.16 | % | 14,780,437 | 645,221 | 5.84 | % | |||||||||||||||||||||||||||
| Consumer and other loans | 1,460,770 | 77,351 | 7.08 | % | 1,334,462 | 71,363 | 7.15 | % | |||||||||||||||||||||||||||
Total loans 2 | 21,228,515 | 979,407 | 6.17 | % | 18,044,796 | 792,555 | 5.87 | % | |||||||||||||||||||||||||||
Tax-exempt debt securities 3 | 1,625,399 | 42,825 | 3.51 | % | 1,594,355 | 42,003 | 3.51 | % | |||||||||||||||||||||||||||
Taxable debt securities 4, 5 | 6,126,696 | 96,187 | 2.09 | % | 6,713,914 | 98,828 | 1.96 | % | |||||||||||||||||||||||||||
| Total earning assets | 28,980,610 | 1,118,419 | 5.16 | % | 26,353,065 | 933,386 | 4.74 | % | |||||||||||||||||||||||||||
| Goodwill and intangibles | 1,476,286 | 1,146,519 | |||||||||||||||||||||||||||||||||
| Non-earning assets | 1,211,434 | 918,154 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 31,668,330 | $ | 28,417,738 | |||||||||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Non-interest bearing deposits | $ | 7,355,903 | $ | — | — | % | $ | 6,267,432 | $ | — | — | % | |||||||||||||||||||||||
| NOW and DDA accounts | 6,169,973 | 48,128 | 1.04 | % | 5,645,862 | 47,593 | 1.13 | % | |||||||||||||||||||||||||||
| Savings accounts | 3,177,733 | 16,719 | 0.70 | % | 2,921,024 | 16,404 | 0.75 | % | |||||||||||||||||||||||||||
| Money market deposit accounts | 4,056,148 | 60,629 | 2.00 | % | 2,996,375 | 45,698 | 2.04 | % | |||||||||||||||||||||||||||
| Certificate accounts | 3,807,656 | 91,512 | 3.21 | % | 3,193,843 | 85,937 | 3.60 | % | |||||||||||||||||||||||||||
| Total core deposits | 24,567,413 | 216,988 | 1.18 | % | 21,024,536 | 195,632 | 1.24 | % | |||||||||||||||||||||||||||
Wholesale deposits 6 | 3,391 | 96 | 3.80 | % | 4,289 | 148 | 4.58 | % | |||||||||||||||||||||||||||
| Repurchase agreements | 2,023,595 | 40,428 | 2.67 | % | 1,909,939 | 42,548 | 2.98 | % | |||||||||||||||||||||||||||
| FHLB advances | 119,286 | 4,226 | 4.67 | % | 1,475,071 | 52,796 | 4.72 | % | |||||||||||||||||||||||||||
| Subordinated debentures and other borrowed funds | 270,417 | 10,798 | 5.34 | % | 228,191 | 8,945 | 5.24 | % | |||||||||||||||||||||||||||
| Total funding liabilities | 26,984,102 | 272,536 | 1.35 | % | 24,642,026 | 300,069 | 1.63 | % | |||||||||||||||||||||||||||
| Other liabilities | 379,197 | 339,599 | |||||||||||||||||||||||||||||||||
| Total liabilities | 27,363,299 | 24,981,625 | |||||||||||||||||||||||||||||||||
| Stockholders’ Equity | |||||||||||||||||||||||||||||||||||
| Stockholders’ equity | 4,305,031 | 3,436,113 | |||||||||||||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 31,668,330 | $ | 28,417,738 | |||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent) | $ | 845,883 | $ | 633,317 | |||||||||||||||||||||||||||||||
| Net interest spread (tax-equivalent) | 3.81 | % | 3.11 | % | |||||||||||||||||||||||||||||||
| Net interest margin (tax-equivalent) | 3.90 | % | 3.21 | % | |||||||||||||||||||||||||||||||
1 Includes tax effect of $4.9 million and $4.7 million on tax-exempt municipal loan and lease income for the nine months ended September 30, 2026, and 2025, respectively.
2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
3 Includes tax effect of $5.8 million and $5.2 million on tax-exempt debt securities income for the nine months ended September 30, 2026, and 2025, respectively.
4 Includes interest income of $22.4 million and $17.7 million on average interest-bearing cash balances of $810.1 million and $531.3 million for the nine months ended September 30, 2026, and 2025, respectively.
5 Includes tax effect of $205 thousand and $451 thousand on federal income tax credits for the nine months ended September 30, 2026, and 2025, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
22
Glacier Bancorp, Inc.
Loan Portfolio by Regulatory Classification
| Loans Receivable, by Loan Type | % Change from | ||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
Custom and owner occupied construction | $ | 220,495 | $ | 240,093 | $ | 263,713 | $ | 231,238 | (8) | % | (16) | % | (5) | % | |||||||||||||||||||||||||||
| Pre-sold and spec construction | 286,778 | 261,642 | 255,542 | 217,413 | 10 | % | 12 | % | 32 | % | |||||||||||||||||||||||||||||||
Total residential construction | 507,273 | 501,735 | 519,255 | 448,651 | 1 | % | (2) | % | 13 | % | |||||||||||||||||||||||||||||||
| Land development | 232,326 | 232,548 | 263,262 | 197,981 | — | % | (12) | % | 17 | % | |||||||||||||||||||||||||||||||
| Consumer land or lots | 230,020 | 231,468 | 247,769 | 207,816 | (1) | % | (7) | % | 11 | % | |||||||||||||||||||||||||||||||
| Unimproved land | 271,226 | 256,084 | 167,796 | 137,720 | 6 | % | 62 | % | 97 | % | |||||||||||||||||||||||||||||||
Developed lots for operative builders | 49,278 | 51,831 | 69,786 | 56,180 | (5) | % | (29) | % | (12) | % | |||||||||||||||||||||||||||||||
| Commercial lots | 141,700 | 131,320 | 155,631 | 99,220 | 8 | % | (9) | % | 43 | % | |||||||||||||||||||||||||||||||
| Other construction | 1,333,807 | 1,254,856 | 1,122,350 | 982,743 | 6 | % | 19 | % | 36 | % | |||||||||||||||||||||||||||||||
Total land, lot, and other construction | 2,258,357 | 2,158,107 | 2,026,594 | 1,681,660 | 5 | % | 11 | % | 34 | % | |||||||||||||||||||||||||||||||
| Owner occupied | 3,931,551 | 3,928,083 | 3,950,726 | 3,570,671 | — | % | — | % | 10 | % | |||||||||||||||||||||||||||||||
| Non-owner occupied | 5,346,391 | 5,195,855 | 4,859,173 | 4,333,302 | 3 | % | 10 | % | 23 | % | |||||||||||||||||||||||||||||||
Total commercial real estate | 9,277,942 | 9,123,938 | 8,809,899 | 7,903,973 | 2 | % | 5 | % | 17 | % | |||||||||||||||||||||||||||||||
| Commercial and industrial | 1,651,586 | 1,687,362 | 1,649,101 | 1,554,832 | (2) | % | — | % | 6 | % | |||||||||||||||||||||||||||||||
| Agriculture | 1,311,884 | 1,313,581 | 1,282,861 | 1,189,948 | — | % | 2 | % | 10 | % | |||||||||||||||||||||||||||||||
| First lien | 2,994,354 | 2,996,965 | 3,098,023 | 2,579,418 | — | % | (3) | % | 16 | % | |||||||||||||||||||||||||||||||
| Junior lien | 114,112 | 110,601 | 106,205 | 81,568 | 3 | % | 7 | % | 40 | % | |||||||||||||||||||||||||||||||
| Total 1-4 family | 3,108,466 | 3,107,566 | 3,204,228 | 2,660,986 | — | % | (3) | % | 17 | % | |||||||||||||||||||||||||||||||
| Multifamily residential | 1,102,092 | 1,075,562 | 1,019,484 | 969,573 | 2 | % | 8 | % | 14 | % | |||||||||||||||||||||||||||||||
| Home equity lines of credit | 1,088,925 | 1,089,052 | 1,076,201 | 1,056,757 | — | % | 1 | % | 3 | % | |||||||||||||||||||||||||||||||
| Other consumer | 217,260 | 222,289 | 237,393 | 192,501 | (2) | % | (8) | % | 13 | % | |||||||||||||||||||||||||||||||
| Total consumer | 1,306,185 | 1,311,341 | 1,313,594 | 1,249,258 | — | % | (1) | % | 5 | % | |||||||||||||||||||||||||||||||
| States and political subdivisions | 955,986 | 950,829 | 964,591 | 994,062 | 1 | % | (1) | % | (4) | % | |||||||||||||||||||||||||||||||
| Other | 177,370 | 178,847 | 177,375 | 180,711 | (1) | % | — | % | (2) | % | |||||||||||||||||||||||||||||||
Total loans receivable, including loans held for sale | 21,657,141 | 21,408,868 | 20,966,982 | 18,833,654 | 1 | % | 3 | % | 15 | % | |||||||||||||||||||||||||||||||
Less loans held for sale 1 | (37,611) | (45,145) | (39,186) | (42,668) | (17) | % | (4) | % | (12) | % | |||||||||||||||||||||||||||||||
| Total loans receivable | $ | 21,619,530 | $ | 21,363,723 | $ | 20,927,796 | $ | 18,790,986 | 1 | % | 3 | % | 15 | % | |||||||||||||||||||||||||||
______________________________
1 Loans held for sale are primarily first lien 1-4 family loans.
23
Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification
Non-performing Assets, by Loan Type | Non- Accrual Loans | Accruing Loans 90 Days or More Past Due | Other real estate owned and foreclosed assets | ||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2026 | Sep 30, 2026 | ||||||||||||||||||||||||||||||||||
Custom and owner occupied construction | $ | 1,856 | 397 | 183 | 476 | 1,110 | 746 | — | |||||||||||||||||||||||||||||||||
| Pre-sold and spec construction | 3,890 | — | 919 | 2,039 | 221 | 2,322 | 1,347 | ||||||||||||||||||||||||||||||||||
Total residential construction | 5,746 | 397 | 1,102 | 2,515 | 1,331 | 3,068 | 1,347 | ||||||||||||||||||||||||||||||||||
| Land development | 864 | 1,022 | 898 | 917 | 7 | — | 857 | ||||||||||||||||||||||||||||||||||
| Consumer land or lots | 814 | 248 | 79 | 358 | 781 | 33 | — | ||||||||||||||||||||||||||||||||||
Developed lots for operative builders | 113 | 113 | 456 | 456 | — | — | 113 | ||||||||||||||||||||||||||||||||||
| Commercial lots | — | — | 556 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Other construction | 370 | 500 | 129 | — | — | — | 370 | ||||||||||||||||||||||||||||||||||
Total land, lot and other construction | 2,161 | 1,883 | 2,118 | 1,731 | 788 | 33 | 1,340 | ||||||||||||||||||||||||||||||||||
| Owner occupied | 8,386 | 5,174 | 3,969 | 5,237 | 3,045 | 4,447 | 894 | ||||||||||||||||||||||||||||||||||
| Non-owner occupied | 20,658 | 24,176 | 7,606 | 691 | 19,614 | 344 | 700 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 29,044 | 29,350 | 11,575 | 5,928 | 22,659 | 4,791 | 1,594 | ||||||||||||||||||||||||||||||||||
| Commercial and Industrial | 18,898 | 24,436 | 27,308 | 24,165 | 17,621 | 1,007 | 270 | ||||||||||||||||||||||||||||||||||
| Agriculture | 9,784 | 10,592 | 3,549 | 5,408 | 6,867 | 2,917 | — | ||||||||||||||||||||||||||||||||||
| First lien | 16,849 | 16,733 | 15,816 | 8,388 | 12,807 | 3,441 | 601 | ||||||||||||||||||||||||||||||||||
| Junior lien | 1,947 | 2,302 | 1,776 | 765 | 1,823 | 124 | — | ||||||||||||||||||||||||||||||||||
| Total 1-4 family | 18,796 | 19,035 | 17,592 | 9,153 | 14,630 | 3,565 | 601 | ||||||||||||||||||||||||||||||||||
| Multifamily residential | 13 | — | 395 | 1,039 | 13 | — | — | ||||||||||||||||||||||||||||||||||
| Home equity lines of credit | 5,236 | 4,932 | 3,968 | 3,402 | 3,735 | 1,501 | — | ||||||||||||||||||||||||||||||||||
| Other consumer | 949 | 1,071 | 1,229 | 852 | 558 | 323 | 68 | ||||||||||||||||||||||||||||||||||
| Total consumer | 6,185 | 6,003 | 5,197 | 4,254 | 4,293 | 1,824 | 68 | ||||||||||||||||||||||||||||||||||
| Other | 14 | 153 | 59 | 119 | — | 14 | — | ||||||||||||||||||||||||||||||||||
| Total | $ | 90,641 | 91,849 | 68,895 | 54,312 | 68,202 | 17,219 | 5,220 | |||||||||||||||||||||||||||||||||
24
Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification (continued)
| Accruing 30-89 Days Delinquent Loans, by Loan Type | % Change from | ||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
Custom and owner occupied construction | $ | 716 | $ | 2,277 | $ | 533 | $ | 305 | (69) | % | 34 | % | 135 | % | |||||||||||||||||||||||||||
| Pre-sold and spec construction | 368 | 4,498 | 1,189 | — | (92) | % | (69) | % | n/m | ||||||||||||||||||||||||||||||||
Total residential construction | 1,084 | 6,775 | 1,722 | 305 | (84) | % | (37) | % | 255 | % | |||||||||||||||||||||||||||||||
| Land development | 1,155 | 2,290 | 3,994 | — | (50) | % | (71) | % | n/m | ||||||||||||||||||||||||||||||||
| Consumer land or lots | 785 | 1,968 | 1,162 | 564 | (60) | % | (32) | % | 39 | % | |||||||||||||||||||||||||||||||
| Unimproved land | 410 | 18 | — | 33 | 2,178 | % | n/m | 1,142 | % | ||||||||||||||||||||||||||||||||
Developed lots for operative builders | — | — | 2,300 | 5,265 | n/m | (100) | % | (100) | % | ||||||||||||||||||||||||||||||||
| Commercial lots | — | 180 | 965 | — | (100) | % | (100) | % | n/m | ||||||||||||||||||||||||||||||||
| Other construction | — | — | 4,787 | — | n/m | (100) | % | n/m | |||||||||||||||||||||||||||||||||
Total land, lot and other construction | 2,350 | 4,456 | 13,208 | 5,862 | (47) | % | (82) | % | (60) | % | |||||||||||||||||||||||||||||||
| Owner occupied | 7,650 | 6,038 | 6,103 | 3,809 | 27 | % | 25 | % | 101 | % | |||||||||||||||||||||||||||||||
| Non-owner occupied | 2,840 | 18,064 | 15,388 | 7,615 | (84) | % | (82) | % | (63) | % | |||||||||||||||||||||||||||||||
Total commercial real estate | 10,490 | 24,102 | 21,491 | 11,424 | (56) | % | (51) | % | (8) | % | |||||||||||||||||||||||||||||||
| Commercial and industrial | 9,594 | 4,787 | 10,215 | 3,711 | 100 | % | (6) | % | 159 | % | |||||||||||||||||||||||||||||||
| Agriculture | 1,710 | 6,537 | 2,390 | 2,104 | (74) | % | (28) | % | (19) | % | |||||||||||||||||||||||||||||||
| First lien | 22,065 | 7,292 | 19,699 | 5,357 | 203 | % | 12 | % | 312 | % | |||||||||||||||||||||||||||||||
| Junior lien | 1,536 | 1,279 | 20 | — | 20 | % | 7,580 | % | n/m | ||||||||||||||||||||||||||||||||
| Total 1-4 family | 23,601 | 8,571 | 19,719 | 5,357 | 175 | % | 20 | % | 341 | % | |||||||||||||||||||||||||||||||
| Multifamily Residential | — | 278 | 150 | 150 | (100) | % | (100) | % | (100) | ||||||||||||||||||||||||||||||||
| Home equity lines of credit | 5,365 | 5,354 | 5,415 | 7,421 | — | % | (1) | % | (28) | % | |||||||||||||||||||||||||||||||
| Other consumer | 1,739 | 1,990 | 1,866 | 1,751 | (13) | % | (7) | % | (1) | % | |||||||||||||||||||||||||||||||
| Total consumer | 7,104 | 7,344 | 7,281 | 9,172 | (3) | % | (2) | % | (23) | % | |||||||||||||||||||||||||||||||
| States and political subdivisions | 30 | — | — | — | n/m | n/m | n/m | ||||||||||||||||||||||||||||||||||
| Other | 2,186 | 2,633 | 2,650 | 1,439 | (17) | % | (18) | % | 52 | % | |||||||||||||||||||||||||||||||
| Total | $ | 58,149 | $ | 65,483 | $ | 78,826 | $ | 39,524 | (11) | % | (26) | % | 47 | % | |||||||||||||||||||||||||||
______________________________
n/m - not measurable
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Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification (continued)
| Net Charge-Offs (Recoveries), Year-to-Date Period Ending, By Loan Type | Charge-Offs | Recoveries | |||||||||||||||||||||||||||||||||
| (Dollars in thousands) | Sep 30, 2026 | Jun 30, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2026 | |||||||||||||||||||||||||||||
| Land development | $ | — | — | (358) | (358) | — | — | ||||||||||||||||||||||||||||
| Consumer land or lots | — | — | (5) | (5) | — | — | |||||||||||||||||||||||||||||
Developed lots for operative builders | — | — | (8) | — | — | — | |||||||||||||||||||||||||||||
Total land, lot and other construction | — | — | (371) | (363) | — | — | |||||||||||||||||||||||||||||
| Owner occupied | 282 | 256 | (2) | (1) | 375 | 93 | |||||||||||||||||||||||||||||
| Non-owner occupied | 484 | 308 | 2,232 | (11) | 559 | 75 | |||||||||||||||||||||||||||||
| Total commercial real estate | 766 | 564 | 2,230 | (12) | 934 | 168 | |||||||||||||||||||||||||||||
| Commercial and industrial | 4,243 | 2,298 | 2,104 | 655 | 4,508 | 265 | |||||||||||||||||||||||||||||
| Agriculture | 3 | — | (112) | (111) | 9 | 6 | |||||||||||||||||||||||||||||
| First lien | 152 | 119 | (182) | (158) | 240 | 88 | |||||||||||||||||||||||||||||
| Junior lien | (26) | (22) | (38) | (34) | — | 26 | |||||||||||||||||||||||||||||
| Total 1-4 family | 126 | 97 | (220) | (192) | 240 | 114 | |||||||||||||||||||||||||||||
| Multifamily residential | 409 | 409 | — | — | 409 | — | |||||||||||||||||||||||||||||
| Home equity lines of credit | 91 | 78 | 43 | (27) | 135 | 44 | |||||||||||||||||||||||||||||
| Other consumer | 855 | 504 | 1,600 | 1,151 | 1,206 | 351 | |||||||||||||||||||||||||||||
| Total consumer | 946 | 582 | 1,643 | 1,124 | 1,341 | 395 | |||||||||||||||||||||||||||||
| Other | 8,440 | 4,983 | 7,448 | 5,253 | 11,137 | 2,697 | |||||||||||||||||||||||||||||
| Total | $ | 14,933 | 8,933 | 12,722 | 6,354 | 18,578 | 3,645 | ||||||||||||||||||||||||||||
Visit our website at www.glacierbancorp.com
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