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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): January 22, 2026

____________________________________________________________
GLACIER BANCORP, INC.
(Exact name of registrant as specified in its charter)
____________________________________________________________
Montana001-4117081-0519541
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
49 Commons LoopKalispell,Montana59901
(Address of principal executive offices)(Zip Code)
(406)756-4200
(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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueGBCIThe New York Stock Exchange

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 January 22, 2026, Glacier Bancorp, Inc. ("Company") issued a press release announcing its financial results for the quarter ended December 31, 2025. 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 December 31, 2025

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:January 22, 2026GLACIER BANCORP, INC.
/s/ Randall M. Chesler
By:Randall M. Chesler
President and Chief Executive Officer

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NEWS RELEASE
January 22, 2026
FOR IMMEDIATE RELEASECONTACT: 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 DECEMBER 31, 2025

4th Quarter 2025 Highlights:
•On October 1, 2025 the Company completed the acquisition of Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”). The acquisition expanded the Company’s southwest presence and is its first entrance into the state of Texas. Guaranty had total assets of $3.357 billion as of the acquisition date.
•Including the $36.0 million of expenses related to the current year acquisitions, net income was $63.8 million for the current quarter, a decrease of $4.1 million, or 6 percent, from the prior quarter net income of $67.9 million and an increase of $2.0 million, or 3 percent, from the prior year fourth quarter net income of $61.8 million.
•Diluted earnings per share for the current quarter was $0.49 per share, a decrease of $0.08 per share, or 14 percent, from the prior quarter diluted earnings per share of $0.57 and a decrease of $0.05 per share, or 9 percent, from the prior year fourth quarter diluted earnings per share of $0.54.
•Net interest income of $266 million for the current quarter increased $40.7 million, or 18 percent, from the prior quarter net interest income of $225 million and increased $74.6 million, or 39 percent, from the prior year fourth quarter net interest income of $191 million.
•The Company’s total assets exceeded $30 billion during the current quarter, ending the year at $31.978 billion.
•The loan portfolio of $20.928 billion at December 31, 2025 increased $2.137 billion, or 11 percent, from the prior quarter.
•Total deposits of $24.591 billion at December 31, 2025 increased $2.720 billion, or 12 percent, from the prior quarter.
•The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.58 percent, an increase of 19 basis points from the prior quarter net interest margin of 3.39 percent and an increase of 61 basis points from the prior year fourth quarter net interest margin of 2.97 percent.
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•The loan yield of 6.09 percent in the current quarter increased 12 basis points from the prior quarter loan yield of 5.97 percent and increased 37 basis points from the prior year fourth quarter loan yield of 5.72 percent.
•The total earning asset yield of 5.00 percent in the current quarter increased 14 basis points from the prior quarter earning asset yield of 4.86 percent and increased 43 basis points from the prior year fourth quarter earning asset yield of 4.57 percent.
•The total cost of funding (including non-interest bearing deposits) of 1.52 percent in the current quarter decreased 6 basis points from the prior quarter total cost of funding of 1.58 percent and decreased 19 basis points form the prior year fourth quarter total cost of funding of 1.71 percent.
•The Company declared a quarterly dividend of $0.33 per share. The Company has declared 163 consecutive quarterly dividends and has increased the dividend 49 times.

Year 2025 Highlights
•Net income for 2025 was $239 million, an increase of $48.9 million, or 26 percent, from the prior year net income of $190 million.
•Diluted earnings per share for 2025 was $1.99 per share, an increase of $0.31 per share, or 18 percent, from the prior year diluted earnings per share of $1.68 per share.
•Net interest income of $889 million for 2025 increased $184 million, or 26 percent, from the prior year net interest income of $705 million.
•The loan portfolio increased $3.666 billion, or 21 percent, during 2025.
•Total deposits increased $4.044 billion, or 20 percent, during 2025.
•The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for 2025 was 3.32 percent, an increase of 55 basis points from the prior year net interest margin of 2.77 percent.
•Dividends declared in 2025 were $1.32 per share.
•The Company completed the acquisition and core system conversion of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”), which had total assets of $1.364 billion as of the acquisition date of April 30, 2025.
•The Company completed the acquisition of Guaranty, which had total assets of $3.357 billion as of the acquisition date of October 1, 2025.

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Financial Summary
 At or for the Three Months endedAt or for the Year ended
(Dollars in thousands, except per share and market data)
Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		Dec 31,
2024		Dec 31,
2025		Dec 31,
2024
Operating results
Net income$63,779 67,900 52,781 54,568 61,754 239,028 190,144 
Basic earnings per share$0.49 0.57 0.45 0.48 0.54 2.00 1.68 
Diluted earnings per share$0.49 0.57 0.45 0.48 0.54 1.99 1.68 
Dividends declared per share$0.33 0.33 0.33 0.33 0.33 1.32 1.32 
Market value per share
Closing$44.05 48.67 43.08 44.22 50.22 44.05 50.22 
High$49.56 50.54 44.70 52.81 60.67 52.81 60.67 
Low$39.90 42.08 36.76 43.18 43.70 36.76 34.35 
Selected ratios and other data
Number of common stock shares outstanding
129,971,712118,552,847118,550,475113,517,944113,401,955129,971,712113,401,955
Average outstanding shares - basic129,950,587118,552,231116,890,776113,451,199113,398,213119,753,227113,170,157
Average outstanding shares - diluted130,145,104118,628,434116,918,290113,546,365113,541,026119,935,056113,243,427
Return on average assets (annualized)0.78 %0.93 %0.74 %0.80 %0.87 %0.81 %0.68 %
Return on average equity (annualized)6.05 %7.52 %6.13 %6.77 %7.62 %6.59 %6.02 %
Efficiency ratio61.04 %62.05 %62.08 %65.49 %60.50 %62.50 %66.71 %
Loan to deposit ratio85.26 %86.11 %85.91 %83.64 %84.17 %85.26 %84.17 %
Number of full time equivalent employees
4,0873,6493,6653,4573,4414,0873,441
Number of locations281248247227227281227
Number of ATMs337298300286284337284

KALISPELL, Mont., Jan 22, 2026 (GLOBE NEWSWIRE) - Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $63.8 million for the current quarter, a decrease of $4.1 million, or 6 percent from the prior quarter net income of $67.9 million and an increase of $2.0 million, or 3 percent, from the $61.8 million of net income for the prior year fourth quarter. Diluted earnings per share for the current quarter was $0.49 per share, a decrease of $0.08 per share, or 14 percent, from the prior quarter diluted earnings per share of $0.57 and a decrease of $0.05 per share, or 9 percent, from the prior year fourth quarter diluted earnings per share of $0.54. The current quarter included $27.2 million of credit loss expense from the acquisition of Guaranty, $5.8 million in acquisition-related expenses, $3.0 million of expenses related to vacating branch locations, $1.4 million of income related to bank owned life insurance proceeds and $827 thousand of reduction of expense related to a prior year FDIC special assessment. “Glacier Bancorp delivered another year of strong performance, marked by a 26 percent increase in earnings and significant strategic progress. In 2025, we expanded our footprint with the acquisitions of Bank of Idaho and Guaranty Bank & Trust, strengthening our presence in high-growth markets and positioning us for continued success,” said Randy Chesler, President and Chief Executive Officer. “We achieved robust margin expansion, double-digit loan and deposit growth, and maintained excellent credit quality. These results reflect the strength of our community banking model and the quality of our team. As we enter 2026, we remain focused on disciplined growth, service excellence, and creating long-term value for our shareholders.”

Net income for the current year was $239 million, an increase of $48.9 million, or 26 percent, from the prior year net income of $190 million. Diluted earnings per share for 2025 was $1.99 per share, an increase of 18 percent from the prior year diluted earnings per share of $1.68 per share.
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On October 1, 2025, the Company completed the acquisition of Guaranty, a leading community bank headquartered in Mount Pleasant, Texas. Guaranty had 33 bank locations across 26 Texas communities located within the East Texas, Dallas/Fort Worth, Houston, Bryan/College Station and Austin markets. Upon closing of the transaction, Guaranty operates as the Company’s 18th separate bank division. The Company’s results of operations and financial condition include the Guaranty acquisition beginning on the acquisition date.

On April 30, 2025, the Company completed the acquisition of BOID, which had 15 branches across Eastern Idaho, Boise and Eastern Washington. Upon the core system conversion in the third quarter of 2025, the BOID operations joined three existing Glacier Bank divisions. The Eastern Idaho operations of Bank of Idaho joined Citizens Community Bank, the Boise operations joined Mountain West Bank and the Eastern Washington operations joined Wheatland Bank. The Company’s results of operations and financial condition include the BOID acquisition beginning on the acquisition date.

The following table discloses the preliminary fair value estimates of select classifications of assets and liabilities acquired:
BOIDGNTY
(Dollars in thousands)April 30,
2025		October 1,
2025		Total
Total assets$1,364,085 $3,356,636 $4,720,721 
Cash and cash equivalents26,127 178,885 205,012 
Debt securities139,974 607,276 747,250 
Loans receivable1,075,232 2,102,378 3,177,610 
Non-interest bearing deposits271,385 831,857 1,103,242 
Interest bearing deposits806,992 1,874,883 2,681,875 
Borrowings and subordinated debt71,932 60,466 132,398 
Core deposit intangible19,758 47,813 67,571 
Goodwill68,745 258,220 326,965 


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Asset Summary
$ Change from
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Sep 30,
2025		Dec 31,
2024
Cash and cash equivalents$1,235,261 854,244 848,408 381,017 386,853 
Debt securities, available-for-sale4,007,512 3,916,189 4,245,205 91,323 (237,693)
Debt securities, held-to-maturity3,110,216 3,155,901 3,294,847 (45,685)(184,631)
Total debt securities7,117,728 7,072,090 7,540,052 45,638 (422,324)
Loans receivable
Residential real estate2,457,907 1,926,448 1,858,929 531,459 598,978 
Commercial real estate13,565,512 12,045,446 10,963,713 1,520,066 2,601,799 
Other commercial3,497,829 3,451,177 3,119,535 46,652 378,294 
Home equity977,206 980,472 930,994 (3,266)46,212 
Other consumer429,342 387,443 388,678 41,899 40,664 
Loans receivable20,927,796 18,790,986 17,261,849 2,136,810 3,665,947 
Allowance for credit losses
(255,319)(229,077)(206,041)(26,242)(49,278)
Loans receivable, net20,672,477 18,561,909 17,055,808 2,110,568 3,616,669 
Other assets2,952,597 2,527,384 2,458,719 425,213 493,878 
Total assets$31,978,063 29,015,627 27,902,987 2,962,436 4,075,076 

The Company continues to maintain a strong cash position of $1.235 billion at December 31, 2025, which was an increase of $381 million, or 45 percent, over the prior quarter and an increase of $387 million, or 46 percent, over the prior year fourth quarter. Total debt securities of $7.118 billion at December 31, 2025 increased $45.6 million, or 1 percent, during the current quarter and decreased $422 million, or 6 percent, from the prior year end. Debt securities represented 22 percent of total assets at December 31, 2025 compared to 24 percent at September 30, 2025 and 27 percent at December 31, 2024.

The loan portfolio of $20.928 billion at December 31, 2025 increased $2.137 billion, or 11 percent, during the current quarter. Excluding the Guaranty acquisition, the loan portfolio organically increased $34.4 million, or 1 percent annualized, in the current quarter and the loan category with the largest dollar increase was commercial real estate loans which increased $124 million, or 4 percent annualized. The loan portfolio increased $3.666 billion, or 21 percent, during 2025. Excluding the Guaranty and BOID acquisitions, the loan portfolio increased $488 million, or 3 percent, during 2025 and the loan category with the largest dollar increase was commercial real estate which increased $474 million, or 4 percent.

5

Credit Quality Summary
At or for the Year endedAt or for the Nine Months endedAt or for the Year ended
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024
Allowance for credit losses
Balance at beginning of period$206,041 206,041 192,757 
Acquisitions154 35 3 
Provision for credit losses61,846 29,355 27,179 
Charge-offs(18,682)(11,276)(18,626)
Recoveries5,960 4,922 4,728 
Balance at end of period$255,319 229,077 206,041 
Provision for credit losses
Loan portfolio$61,846 29,355 27,179 
Unfunded loan commitments9,554 6,382 1,127 
Total provision for credit losses$71,400 35,737 28,306 
Other real estate owned$284 1,376 1,085 
Other foreclosed assets127 37 79 
Accruing loans 90 days or more past due5,997 7,449 6,177 
Non-accrual loans62,487 45,450 20,445 
Total non-performing assets$68,895 54,312 27,786 
Non-performing assets as a percentage of subsidiary assets
0.22 %0.19 %0.10 %
Allowance for credit losses as a percentage of non-performing loans
373 %433 %774 %
Allowance for credit losses as a percentage of total loans
1.22 %1.22 %1.19 %
Net charge-offs as a percentage of total loans0.06 %0.03 %0.08 %
Accruing loans 30-89 days past due$78,826 39,524 32,228 
U.S. government guarantees included in non-performing assets$8,733 10,358 748 

Non-performing assets of $68.9 million at December 31, 2025 increased $14.6 million, or 27 percent, over the prior quarter and increased $41.1 million, or 148 percent, over the prior year end. Excluding $18.8 million from the acquisition of Guaranty, non-performing assets were $50.1 million or 17 basis points as a percentage of subsidiary assets at December 31, 2025, and decreased $4.3 million, or 8 percent, from the prior quarter.

Early stage delinquencies (accruing loans 30-89 days past due) of $78.8 million at December 31, 2025 increased $39.3 million from the prior quarter and increased $46.6 million from the prior year fourth quarter. Excluding $10.0 million from the acquisition of Guaranty, early stage delinquencies were $68.8 million or 0.37 percent of loans at December 31, 2025, and increased $29.2 million from the prior quarter. Early stage delinquencies as a percentage of loans at December 31, 2025 were 0.38 percent compared to 0.21 percent for the prior quarter end and 0.19 percent for the prior year fourth quarter and remain at historically low levels for the Company.

The current quarter provision for credit loss expense of $35.7 million included $25.6 million of credit loss expense on loans and $1.6 million of credit loss expense on unfunded loan commitments from the acquisition. The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.22 percent at December 31, 2025 and September 30, 2025 compared to 1.19 percent at December 31, 2024. Loan portfolio growth, composition, average loan size, 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 LoansNet Charge-OffsACL
as a Percent
of Loans		Accruing
Loans 30-89
Days Past Due
as a Percent of
Loans		Non-Performing
Assets to
Total Subsidiary
Assets
Fourth quarter 2025$32,491 $6,368 1.22 %0.38 %0.22 %
Third quarter 20255,192 2,914 1.22 %0.21 %0.19 %
Second quarter 202518,009 1,645 1.22 %0.29 %0.17 %
First quarter 20256,154 1,795 1.22 %0.27 %0.14 %
Fourth quarter 20246,041 5,170 1.19 %0.19 %0.10 %
Third quarter 20246,981 2,766 1.19 %0.33 %0.10 %
Second quarter 20245,066 2,890 1.19 %0.29 %0.06 %
First quarter 20249,091 3,072 1.19 %0.37 %0.09 %

Net charge-offs for the current quarter were $6.4 million compared to $2.9 million in the prior quarter and $5.2 million for the prior year fourth quarter. The current quarter net charge-offs included $2.2 million in deposit overdraft net charge-offs and $4.2 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 exhibits 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)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Sep 30,
2025		Dec 31,
2024
Deposits
Non-interest bearing deposits$7,314,779 6,674,441 6,136,709 640,338 1,178,070 
NOW and DDA accounts6,236,551 5,805,816 5,543,512 430,735 693,039 
Savings accounts3,158,939 3,049,753 2,845,124 109,186 313,815 
Money market deposit accounts
3,948,201 3,137,810 2,878,213 810,391 1,069,988 
Certificate accounts3,928,550 3,199,825 3,139,821 728,725 788,729 
Core deposits, total24,587,020 21,867,645 20,543,379 2,719,375 4,043,641 
Wholesale deposits4,076 3,304 3,615 772 461 
Deposits, total24,591,096 21,870,949 20,546,994 2,720,147 4,044,102 
Repurchase agreements2,084,113 2,004,286 1,777,475 79,827 306,638 
Deposits and repurchase agreements, total26,675,209 23,875,235 22,324,469 2,799,974 4,350,740 
Federal Home Loan Bank advances
440,000 895,022 1,800,000 (455,022)(1,360,000)
Other borrowed funds51,473 59,779 62,062 (8,306)(10,589)
Finance lease liabilities28,808 18,401 21,279 10,407 7,529 
Subordinated debentures187,492 157,379 133,105 30,113 54,387 
Other liabilities381,260 401,523 338,218 (20,263)43,042 
Total liabilities$27,764,242 25,407,339 24,679,133 2,356,903 3,085,109 

7

Total deposits of $24.591 billion at December 31, 2025 increased $2.720 billion, or 12 percent, during the current quarter and increased $4.044 billion, or 20 percent, from the prior year end. Excluding acquisitions, total deposits increased $13.4 million, or 6 basis points, during the current quarter and increased $259 million, or 1 percent, from the prior year end.

Non-interest bearing deposits of $7.315 billion at December 31, 2025 increased $640 million, or 10 percent, from the prior quarter and increased $1.178 billion, or 19 percent, from the prior year end. Excluding acquisitions, total non-interest bearing deposits increased $74.8 million or 1 percent, from the prior year end. Non-interest bearing deposits represented 30 percent of total deposits at December 31, 2025 compared to 31 percent at September 30, 2025 and 30 percent at December 31, 2024.

Federal Home Loan Bank (“FHLB”) advances of $440 million decreased $455 million, or 51 percent, from the prior quarter and decreased $1.360 billion, or 76 percent, from the prior year end. Subordinated debentures of $187 million increased $30.1 million, or 19 percent, from the prior quarter and included an increase of $39.6 million from the acquisition of Guaranty.

Stockholders’ Equity Summary
$ Change from
(Dollars in thousands, except per share data)
Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Sep 30,
2025		Dec 31,
2024
Common equity$4,380,931 3,801,178 3,533,150 579,753 847,781 
Accumulated other comprehensive loss
(167,110)(192,890)(309,296)25,780 142,186 
Total stockholders’ equity
4,213,821 3,608,288 3,223,854 605,533 989,967 
Goodwill and intangibles, net
(1,483,552)(1,182,536)(1,102,500)(301,016)(381,052)
Tangible stockholders’ equity
$2,730,269 2,425,752 2,121,354 304,517 608,915 
Stockholders’ equity to total assets
13.18 %12.44 %11.55 %
Tangible stockholders’ equity to total tangible assets
8.95 %8.72 %7.92 %
Book value per common share
$32.42 30.44 28.43 1.98 3.99 
Tangible book value per common share
$21.01 20.46 18.71 0.55 2.30 

Tangible stockholders’ equity of $2.730 billion at December 31, 2025 increased $305 million, or 13 percent, compared to the prior quarter and was primarily due to $554 million of Company stock issued in connection with the acquisition of Guaranty. The increase was partially offset by $306 million of goodwill and core deposit intangible associated with the Guaranty acquisition.

Tangible stockholders’ equity at December 31, 2025 increased $609 million, or 29 percent, compared to the prior year end and was primarily due to $759 million of Company stock issued in connection with the acquisitions of BOID and Guaranty and a $142 million decrease in other comprehensive loss. The increase was partially offset by the increase in goodwill and core deposit intangible associated with the BOID and Guaranty acquisitions. Tangible book value per common share of $21.01 at the current quarter end increased $0.55 per share, or 3 percent, from the prior quarter and increased $2.30 per share, or 12 percent, from the prior year fourth quarter.

8

Cash Dividends
On November 12, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable December 18, 2025 to shareholders of record on December 9, 2025. The dividend was the Company’s 163rd 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.

Operating Results for Three Months Ended December 31, 2025 
Compared to September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024

Income Summary
Three Months ended
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		Dec 31,
2024
Net interest income
Interest income$372,754 325,003 308,115 289,925 297,036 
Interest expense106,688 99,624 100,499 99,946 105,593 
Total net interest income266,066 225,379 207,616 189,979 191,443 
Non-interest income
Service charges and other fees
24,387 21,460 20,405 18,818 20,322 
Miscellaneous loan fees and charges5,589 5,123 5,067 4,664 4,541 
Gain on sale of loans4,594 5,027 4,273 4,311 3,926 
Other income5,877 3,742 3,199 4,849 2,760 
Total non-interest income40,447 35,352 32,944 32,642 31,549 
Total income$306,513 260,731 240,560 222,621 222,992 
Net interest margin (tax-equivalent)
3.58 %3.39 %3.21 %3.04 %2.97 %
$ Change from
(Dollars in thousands)Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		Dec 31,
2024
Net interest income
Interest income$47,751 64,639 82,829 75,718 
Interest expense7,064 6,189 6,742 1,095 
Total net interest income40,687 58,450 76,087 74,623 
Non-interest income
Service charges and other fees
2,927 3,982 5,569 4,065 
Miscellaneous loan fees and charges466 522 925 1,048 
Gain on sale of loans(433)321 283 668 
Other income2,135 2,678 1,028 3,117 
Total non-interest income5,095 7,503 7,805 8,898 
Total income$45,782 65,953 83,892 83,521 

Net Interest Income
Net interest income of $266 million for the current quarter increased $40.7 million, or 18 percent, from the prior quarter net interest income of $225 million and increased $74.6 million, or 39 percent, from the prior year
9

fourth quarter net interest income of $191 million. The current quarter interest income of $373 million increased $47.8 million, or 15 percent, over the prior quarter and increased $75.8 million, or 26 percent, over the prior year fourth quarter, both increases primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 6.09 percent in the current quarter increased 12 basis points from the prior quarter loan yield of 5.97 percent and increased 37 basis points from the prior year fourth quarter loan yield of 5.72 percent.

The current quarter interest expense of $107 million increased $7.1 million, or 7 percent, from the prior quarter and increased $1.1 million, or 1 percent, from the prior year fourth quarter and was primarily attributable to an increase in average deposits which was partially offset by the decrease in higher cost borrowings. Deposit cost (including non-interest bearing deposits) increased to 1.26 percent in the current quarter compared to 1.23 percent in the prior quarter and was primarily driven by the acquisition of Guaranty which had higher cost of deposits. Deposit costs decreased 3 basis points from the prior year fourth quarter deposit cost of 1.29 percent. The total cost of funding (including non-interest bearing deposits) of 1.52 percent in the current quarter decreased 6 basis points from the prior quarter and decreased 19 basis points from the prior year fourth quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.58 percent, an increase of 19 basis points from the prior quarter net interest margin of 3.39 percent and was primarily driven by an increase in loan yields and a decrease in the total cost of funding. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was an increase of 61 basis points from the prior year fourth quarter net interest margin of 2.97 percent and was also primarily driven by the increase in loan yields and the decrease in the total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 6 basis points from discount accretion and the 1 basis point of non-accrual interest recovery, the core net interest margin was 3.51 percent in the current quarter compared to 3.35 percent in the prior quarter and 2.92 percent in the prior year fourth quarter. “The Company was pleased with the 19 basis points increase in the current quarter net interest margin,” said Ron Copher, Chief Financial Officer. “Deploying lower yield cash flow from investment securities into higher yield earning assets in combination with continued reduction in the total cost of funding were primary drivers of the current quarter increase in the net interest margin.”

Non-interest Income
Non-interest income for the current quarter totaled $40.4 million, which was an increase of $5.1 million, or 14 percent, over the prior quarter and an increase of $8.9 million, or 28 percent, over the prior year fourth quarter. Service charges and other fees of $24.4 million for the current quarter increased $2.9 million, or 14 percent, compared to the prior quarter and increased $4.1 million, or 20 percent, compared to the prior year fourth quarter. Gain on the sale of residential loans of $4.6 million for the current quarter decreased $433 thousand, or 9 percent, compared to the prior quarter and increased $668 thousand, or 17 percent, from the prior year fourth quarter. Other income of $5.9 million in the current quarter included $1.4 million of income related to bank owned life insurance proceeds.
10

Non-interest Expense Summary
 Three Months ended
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		Dec 31,
2024
Compensation and employee benefits$110,999 96,498 94,355 91,443 81,600 
Occupancy and equipment17,529 13,236 12,558 12,294 11,589 
Advertising and promotions4,609 4,620 4,394 4,144 3,725 
Data processing13,089 10,634 9,883 9,138 9,145 
Other real estate owned and foreclosed assets140 63 26 63 30 
Regulatory assessments and insurance5,495 5,799 5,847 5,534 5,890 
Intangibles amortization5,180 3,813 3,624 3,270 3,613 
Other expenses37,516 33,120 24,432 25,432 25,373 
Total non-interest expense$194,557 167,783 155,119 151,318 140,965 
$ Change from
(Dollars in thousands)Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		Dec 31,
2024
Compensation and employee benefits$14,501 16,644 19,556 29,399 
Occupancy and equipment4,293 4,971 5,235 5,940 
Advertising and promotions(11)215 465 884 
Data processing2,455 3,206 3,951 3,944 
Other real estate owned and foreclosed assets77 114 77 110 
Regulatory assessments and insurance(304)(352)(39)(395)
Core deposit intangibles amortization1,367 1,556 1,910 1,567 
Other expenses4,396 13,084 12,084 12,143 
Total non-interest expense$26,774 39,438 43,239 53,592 

Total non-interest expense of $195 million for the current quarter increased $26.8 million, or 16 percent, over the prior quarter and increased $53.6 million, or 38 percent, over the prior year fourth quarter and was primarily driven by increased costs from the acquisitions. Included in the current quarter non-interest expense was $24.1 million from the Guaranty acquisition and $3.0 million of expenses related to vacating branch locations.

Compensation and employee benefits of $111 million for the current quarter increased by $14.5 million, or 15 percent, over the prior quarter which was primarily driven by $14.6 million compensation from Guaranty. Compensation and employee benefits increased $29.4 million, or 36 percent, from the prior year fourth quarter and was primarily driven by annual salary increases and increases in staffing levels from the current year acquisitions. Occupancy and equipment expense of $17.5 million increased $4.3 million, or 32 percent, from the prior quarter and was primarily due to increased costs from current year acquisitions, including $1.1 million of expenses related to vacating branch locations. Regulatory assessment and insurance expense of $5.5 million decreased $304 thousand, or 5 percent, from the prior quarter and decreased $395 thousand, or 7 percent, from the prior year fourth quarter, primarily as a result of a $827 thousand expense related to a prior year FDIC special assessment.

Other expenses of $37.5 million increased $4.4 million, or 13 percent, from the prior quarter and was primarily driven by increased costs from acquisitions, including $1.9 million of write-off of fixed asset expenses related to vacating branch locations and $1.4 million increased expenses associated with investments in tax equity credits. Acquisition-related expense was $5.8 million in the current quarter compared to $7.0 million in the
11

prior quarter and $491 thousand in the prior year fourth quarter. The other expenses included $2.1 million of gain from the sale of a former branch facility in the prior year fourth quarter.

Federal and State Income Tax Expense
Tax expense during the fourth quarter of 2025 was $12.5 million, a decrease of $4.9 million, or 28 percent, compared to the prior quarter and an increase of $775 thousand, or 7 percent, from the prior year fourth quarter. The effective tax rate in the current quarter was 16.4 percent compared to 20.4 percent in the prior quarter and 16.0 percent in the prior year fourth quarter. The lower tax expense and lower effective tax rate in the current quarter compared to the prior quarter was primarily the result of a decrease in pre-tax income and a decrease in federal income tax credits.

Efficiency Ratio
The efficiency ratio was 61.04 percent in the current quarter compared to 62.05 percent in the prior quarter and 60.50 in the prior year fourth quarter. The decrease from the prior quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense. The increase from the prior year fourth quarter was primarily due to increases in acquisition-related expenses and the current quarter expense related to vacating branch locations.

Operating Results for Ended December 31, 2025
Compared to December 31, 2024

Income Summary
Year ended
(Dollars in thousands)Dec 31,
2025		Dec 31,
2024		$ Change% Change
Net interest income
Interest income$1,295,797 $1,139,850 $155,947 14 %
Interest expense406,757 435,218 (28,461)(7)%
Total net interest income889,040 704,632 184,408 26 %
Non-interest income
Service charges and other fees85,070 78,894 6,176 8 %
Miscellaneous loan fees and charges20,443 18,694 1,749 9 %
Gain on sale of loans18,205 16,855 1,350 8 %
Gain on sale of securities— 30 (30)(100)%
Other income17,667 13,973 3,694 26 %
Total non-interest income141,385 128,446 12,939 10 %
Total Income$1,030,425 $833,078 $197,347 24 %
Net interest margin (tax-equivalent)3.32 %2.77 %

Net Interest Income
Net interest income of $889 million for 2025 increased $184 million, or 26 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $1.296 billion for 2025 increased $156 million, or 14 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 5.93 percent during 2025, an increase of 32 basis points from the prior year loan yield of 5.61 percent.

Interest expense of $407 million for 2025 decreased $28 million, or 7 percent, from the prior year and was primarily the result of lower interest rates on deposits and a decreases in higher cost borrowings. Deposit cost
12

(including non-interest bearing deposits) was 1.25 percent for 2025, which was a decrease of 9 basis points from the prior year deposit costs of 1.34 percent. The total funding cost (including non-interest bearing deposits) for 2025 was 1.60 percent, which was a decrease of 19 basis points over the prior year funding cost of 1.79 percent.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during 2025 was 3.32 percent, a 55 basis points increase from the net interest margin of 2.77 percent for the prior year. Excluding the 5 basis points from discount accretion, the core net interest margin was 3.27 percent in the current year compared to 2.72 percent in the prior year. The increase in net interest margin from the prior year was primarily driven by increased loan yields and decreased funding costs combined with a shift in earning asset mix to higher yielding loans and a shift in funding liabilities to lower cost deposits.

Non-interest Income
Non-interest income of $141 million for 2025 increased $12.9 million, or 10 percent, over last year. Service charges and other fees of $85.1 million for 2025 increased $6.2 million, or 8 percent, over the prior year. Gain on sale of residential loans of $18.2 million for 2025 increased by $1.4 million, or 8 percent, over the prior year. Other income of $17.7 million for 2025 increased $3.7 million over the prior year. Included in the current year other income was $2.8 million of income related to bank owned life insurance proceeds.

Non-interest Expense Summary
Year ended
(Dollars in thousands)Dec 31,
2025		Dec 31,
2024		$ Change% Change
Compensation and employee benefits$393,295 $336,906 $56,389 17 %
Occupancy and equipment55,617 47,055 8,562 18 %
Advertising and promotions17,767 16,132 1,635 10 %
Data processing42,744 36,887 5,857 16 %
Other real estate owned and foreclosed assets292 217 75 35 %
Regulatory assessments and insurance22,675 24,194 (1,519)(6)%
Core deposit intangibles amortization15,887 12,757 3,130 25 %
Other expenses120,500 104,320 16,180 16 %
Total non-interest expense$668,777 $578,468 $90,309 16 %

Total non-interest expense of $669 million for 2025 increased $90.3 million, or 16 percent, over the same period in the prior year and was primarily driven by increased costs from recent acquisitions. Compensation and employee benefits expense of $393 million in 2025 increased $56.4 million, or 17 percent, over the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $22.7 million for 2025 decreased $1.5 million, or 6 percent, from the prior year primarily as a result of adjustments to the FDIC special assessment. Other expenses of $121 million for 2025 increased $16.2 million, or 16 percent, from the prior year. Included in other expenses was $16.6 million of acquisition-related expenses in the the current year compared to $9.9 million in the prior year. Other expenses also included $2.8 million of gain from the sale of former branch facilities in the current year and $5.6 million in the prior year.

Provision for Credit Losses
The provision for credit loss expense was $71.4 million for 2025, an increase of $43.1 million, or 152 percent, over the same period in the prior year. Included in the current year provision for credit losses was $43.9 million from current year acquisitions and included in the prior year was $9.7 million from acquisitions in the prior year. Net charge-offs for 2025 were $12.7 million compared to $13.9 million in 2024.
13


Federal and State Income Tax Expense
Tax expense of $51.2 million for 2025 increased $15.1 million, or 42 percent, over the same period in the prior year. The effective tax rate for 2025 was 17.6 percent compared to 16.0 percent for the same period in the prior year. The increase in tax expense and the increase in the effective tax rate was the primarily the result of the increase in pre-tax income.

Efficiency Ratio
The efficiency ratio was 62.50 percent for 2025 compared to 66.71 percent for 2024. The decrease from the prior year was primarily attributable to the increase in net interest income that outpaced the increase in non-interest expense.

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 of a potential government shutdown, 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 Ukraine, 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;
•costs or difficulties related to the completion and integration of future or recently completed 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;
14

•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 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;
•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, January 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/BI37b70116241941dfb146b09710d5794e. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/hmur9gt6.

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).


15

Glacier Bancorp, Inc.
Unaudited Condensed Consolidated Statements of Financial Condition
(Dollars in thousands, except per share data)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024
Assets
Cash on hand and in banks$321,526 312,506 268,746 
Interest bearing cash deposits913,735 541,738 579,662 
Cash and cash equivalents1,235,261 854,244 848,408 
Debt securities, available-for-sale4,007,512 3,916,189 4,245,205 
Debt securities, held-to-maturity3,110,216 3,155,901 3,294,847 
Total debt securities7,117,728 7,072,090 7,540,052 
Loans held for sale, at fair value39,186 42,668 33,060 
Loans receivable20,927,796 18,790,986 17,261,849 
Allowance for credit losses(255,319)(229,077)(206,041)
Loans receivable, net20,672,477 18,561,909 17,055,808 
Premises and equipment, net486,184 427,271 411,968 
Right-of-use assets, net75,574 54,502 56,252 
Other real estate owned and foreclosed assets411 1,413 1,164 
Accrued interest receivable120,092 120,257 99,262 
Deferred tax asset101,337 99,702 138,955 
Intangibles, net105,269 61,135 51,182 
Goodwill1,378,283 1,121,401 1,051,318 
Non-marketable equity securities42,764 61,362 99,669 
Bank-owned life insurance235,090 191,996 189,849 
Other assets368,407 345,677 326,040 
Total assets$31,978,063 29,015,627 27,902,987 
Liabilities
Non-interest bearing deposits$7,314,779 6,674,441 6,136,709 
Interest bearing deposits17,276,317 15,196,508 14,410,285 
Securities sold under agreements to repurchase2,084,113 2,004,286 1,777,475 
FHLB advances440,000 895,022 1,800,000 
Other borrowed funds51,473 59,779 62,062 
Finance lease liabilities28,808 18,401 21,279 
Subordinated debentures187,492 157,379 133,105 
Accrued interest payable32,786 27,733 33,626 
Operating lease liabilities52,869 41,367 39,902 
Other liabilities295,605 332,423 264,690 
Total liabilities27,764,242 25,407,339 24,679,133 
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
1,300 1,186 1,134 
Paid-in capital3,220,064 2,657,469 2,448,758 
Retained earnings - substantially restricted1,159,567 1,142,523 1,083,258 
Accumulated other comprehensive loss(167,110)(192,890)(309,296)
Total stockholders’ equity4,213,821 3,608,288 3,223,854 
Total liabilities and stockholders’ equity$31,978,063 29,015,627 27,902,987 

16


Glacier Bancorp, Inc.
Unaudited Condensed Consolidated Statements of Operations
 Three Months endedYear ended
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Dec 31,
2025		Dec 31,
2024
Interest Income
Investment securities$51,988 45,348 50,381 187,130 195,135 
Residential real estate loans35,164 26,335 23,960 111,135 89,596 
Commercial loans259,456 228,363 199,260 900,023 765,959 
Consumer and other loans26,146 24,957 23,435 97,509 89,160 
Total interest income372,754 325,003 297,036 1,295,797 1,139,850 
Interest Expense
Deposits78,407 67,346 67,079 274,187 272,734 
Securities sold under agreements to
  repurchase
14,624 14,706 14,822 57,172 55,723 
Federal Home Loan Bank advances9,456 14,271 21,848 62,252 72,620 
FRB Bank Term Funding— — — — 27,097 
Other borrowed funds
745 385 348 1,932 1,297 
Subordinated debentures3,456 2,916 1,496 11,214 5,747 
Total interest expense106,688 99,624 105,593 406,757 435,218 
Net Interest Income266,066 225,379 191,443 889,040 704,632 
Provision for credit losses35,663 7,656 8,534 71,400 28,306 
Net interest income after provision for credit losses
230,403 217,723 182,909 817,640 676,326 
Non-Interest Income
Service charges and other fees24,387 21,460 20,322 85,070 78,894 
Miscellaneous loan fees and charges5,589 5,123 4,541 20,443 18,694 
Gain on sale of loans4,594 5,027 3,926 18,205 16,855 
Gain on sale of securities— — — — 30 
Other income5,877 3,742 2,760 17,667 13,973 
Total non-interest income40,447 35,352 31,549 141,385 128,446 
Non-Interest Expense
Compensation and employee benefits110,999 96,498 81,600 393,295 336,906 
Occupancy and equipment17,529 13,236 11,589 55,617 47,055 
Advertising and promotions4,609 4,620 3,725 17,767 16,132 
Data processing13,089 10,634 9,145 42,744 36,887 
Other real estate owned and foreclosed assets140 63 30 292 217 
Regulatory assessments and insurance
5,495 5,799 5,890 22,675 24,194 
Intangibles amortization5,180 3,813 3,613 15,887 12,757 
Other expenses37,516 33,120 25,373 120,500 104,320 
Total non-interest expense194,557 167,783 140,965 668,777 578,468 
Income Before Income Taxes76,293 85,292 73,493 290,248 226,304 
Federal and state income tax expense12,514 17,392 11,739 51,220 36,160 
Net Income$63,779 67,900 61,754 239,028 190,144 
17

Glacier Bancorp, Inc.
Average Balance Sheets
Three Months ended
December 31, 2025September 30, 2025
(Dollars in thousands)Average
Balance		Interest &
Dividends		Average
Yield/
Rate		Average
Balance		Interest &
Dividends		Average
Yield/
Rate
Assets
Residential real estate loans$2,515,221 $35,164 5.59 %$1,962,831 $26,335 5.37 %
Commercial loans 1
17,061,043 261,088 6.07 %15,351,367 229,915 5.94 %
Consumer and other loans1,412,458 26,146 7.34 %1,363,996 24,957 7.26 %
Total loans 2
20,988,722 322,398 6.09 %18,678,194 281,207 5.97 %
Tax-exempt debt securities 3
1,665,176 14,189 3.41 %1,583,554 14,068 3.55 %
Taxable debt securities 4, 5
7,188,543 39,719 2.21 %6,554,179 33,185 2.03 %
Total earning assets29,842,441 376,306 5.00 %26,815,927 328,460 4.86 %
Goodwill and intangibles1,444,364 1,184,370 
Non-earning assets1,201,340 987,070 
Total assets$32,488,145 $28,987,367 
Liabilities
Non-interest bearing deposits$7,526,159 $— — %$6,550,398 $— — %
NOW and DDA accounts6,118,413 16,991 1.10 %5,734,329 16,483 1.14 %
Savings accounts3,174,869 6,014 0.75 %2,995,538 5,843 0.77 %
Money market deposit accounts3,993,241 20,962 2.08 %3,136,019 16,783 2.12 %
Certificate accounts3,929,727 34,407 3.47 %3,217,199 28,195 3.48 %
Total core deposits24,742,409 78,374 1.26 %21,633,483 67,304 1.23 %
Wholesale deposits 6
3,257 33 4.15 %3,649 42 4.48 %
Repurchase agreements2,087,256 14,624 2.78 %1,986,620 14,706 2.94 %
FHLB advances792,290 9,456 4.67 %1,192,493 14,271 4.68 %
Subordinated debentures and other borrowed funds270,924 4,201 6.15 %236,375 3,301 5.54 %
Total funding liabilities27,896,136 106,688 1.52 %25,052,620 99,624 1.58 %
Other liabilities406,289 353,452 
Total liabilities28,302,425 25,406,072 
Stockholders’ Equity
Stockholders’ equity4,185,720 3,581,295 
Total liabilities and stockholders’ equity$32,488,145 $28,987,367 
Net interest income (tax-equivalent)$269,618 $228,836 
Net interest spread (tax-equivalent)3.48 %3.28 %
Net interest margin (tax-equivalent)3.58 %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 December 31, 2025 and September 30, 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 $1.8 million and $1.8 million on tax-exempt debt securities income for the three months ended December 31, 2025 and September 30, 2025, respectively.
4     Includes interest income of $11.2 million and $6.7 million on average interest-bearing cash balances of $1.1 billion and $600.3 million for the three months ended December 31, 2025 and September 30, 2025, respectively.
5 Includes tax effect of $151 thousand and $150 thousand on federal income tax credits for the three months ended December 31, 2025 and September 30, 2025, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.





18

Glacier Bancorp, Inc.
Average Balance Sheets (continued)
Three Months ended
 December 31, 2025December 31, 2024
(Dollars in thousands)Average
Balance		Interest &
Dividends		Average
Yield/
Rate		Average
Balance		Interest &
Dividends		Average
Yield/
Rate
Assets
Residential real estate loans$2,515,221 $35,164 5.59 %$1,885,146 $23,960 5.08 %
Commercial loans 1
17,061,043 261,088 6.07 %14,059,864 200,956 5.69 %
Consumer and other loans1,412,458 26,146 7.34 %1,324,341 23,435 7.04 %
Total loans 2
20,988,722 322,398 6.09 %17,269,351 248,351 5.72 %
Tax-exempt debt securities 3
1,665,176 14,189 3.41 %1,615,474 14,501 3.59 %
Taxable debt securities 4, 5
7,188,543 39,719 2.21 %7,314,265 38,189 2.09 %
Total earning assets29,842,441 376,306 5.00 %26,199,090 301,041 4.57 %
Goodwill and intangibles1,444,364 1,104,362 
Non-earning assets1,201,340 888,404 
Total assets$32,488,145 $28,191,856 
Liabilities
Non-interest bearing deposits$7,526,159 $— — %$6,343,443 $— — %
NOW and DDA accounts6,118,413 16,991 1.10 %5,491,451 15,768 1.14 %
Savings accounts3,174,869 6,014 0.75 %2,824,126 5,316 0.75 %
Money market deposit accounts3,993,241 20,962 2.08 %2,878,415 14,232 1.97 %
Certificate accounts3,929,727 34,407 3.47 %3,174,923 31,716 3.97 %
Total core deposits24,742,409 78,374 1.26 %20,712,358 67,032 1.29 %
Wholesale deposits 6
3,257 33 4.15 %3,654 47 4.95 %
Repurchase agreements2,087,256 14,624 2.78 %1,866,705 14,821 3.16 %
FHLB advances792,290 9,456 4.67 %1,800,000 21,848 4.75 %
Subordinated debentures and other borrowed funds270,924 4,201 6.15 %216,874 1,845 3.38 %
Total funding liabilities27,896,136 106,688 1.52 %24,599,591 105,593 1.71 %
Other liabilities406,289 369,700 
Total liabilities28,302,425 24,969,291 
Stockholders’ Equity
Stockholders’ equity4,185,720 3,222,565 
Total liabilities and stockholders’ equity
$32,488,145 $28,191,856 
Net interest income (tax-equivalent)$269,618 $195,448 
Net interest spread (tax-equivalent)3.48 %2.86 %
Net interest margin (tax-equivalent)3.58 %2.97 %
______________________________
1 Includes tax effect of $1.6 million and $1.7 million on tax-exempt municipal loan and lease income for the three months ended December 31, 2025 and 2024, 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 $1.8 million and $2.1 million on tax-exempt debt securities income for the three months ended December 31, 2025 and 2024, respectively.
4     Includes interest income of $11.2 million and $9.2 million on average interest-bearing cash balances of $1.1 billion and $759.7 million for the three months ended December 31, 2025 and 2024, respectively.
5 Includes tax effect of $151 thousand and $203 thousand on federal income tax credits for the three months ended December 31, 2025 and 2024, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

19

Glacier Bancorp, Inc.
Average Balance Sheets (continued)
Year ended
 December 31, 2025December 31, 2024
(Dollars in thousands)Average
Balance		Interest &
Dividends		Average
Yield/
Rate		Average
Balance		Interest &
Dividends		Average
Yield/
Rate
Assets
Residential real estate loans$2,077,431 $111,135 5.35 %$1,820,057 $89,596 4.92 %
Commercial loans 1
15,355,275 906,309 5.90 %13,818,805 772,496 5.59 %
Consumer and other loans1,354,121 97,509 7.20 %1,305,716 89,160 6.83 %
Total loans 2
18,786,827 1,114,953 5.93 %16,944,578 951,252 5.61 %
Tax-exempt debt securities 3
1,612,206 56,192 3.49 %1,675,732 59,479 3.55 %
Taxable debt securities 4, 5
6,833,546 138,547 2.03 %7,400,887 145,128 1.96 %
Total earning assets27,232,579 1,309,692 4.81 %26,021,197 1,155,859 4.44 %
Goodwill and intangibles1,221,592 1,079,404 
Non-earning assets989,532 773,322 
Total assets$29,443,703 $27,873,923 
Liabilities
Non-interest bearing deposits$6,584,700 $— — %$6,144,268 $— — %
NOW and DDA accounts5,764,971 64,584 1.12 %5,326,296 63,635 1.19 %
Savings accounts2,985,007 22,418 0.75 %2,866,908 22,684 0.79 %
Money market deposit accounts3,247,640 66,660 2.05 %2,904,461 58,140 2.00 %
Certificate accounts3,379,326 120,344 3.56 %3,106,755 128,081 4.12 %
Total core deposits21,961,644 274,006 1.25 %20,348,688 272,540 1.34 %
Wholesale deposits 6
4,029 181 4.49 %3,615 194 5.36 %
Repurchase agreements1,954,632 57,172 2.92 %1,676,040 55,723 3.32 %
FHLB advances1,302,973 62,252 4.71 %1,498,494 72,620 4.77 %
FRB Bank Term Funding— — — %617,377 27,097 4.39 %
Subordinated debentures and other borrowed funds238,962 13,146 5.50 %219,839 7,044 3.20 %
Total funding liabilities25,462,240 406,757 1.60 %24,364,053 435,218 1.79 %
Other liabilities356,409 351,825 
Total liabilities25,818,649 24,715,878 
Stockholders’ Equity
Stockholders’ equity3,625,054 3,158,045 
Total liabilities and stockholders’ equity
$29,443,703 $27,873,923 
Net interest income (tax-equivalent)$902,935 $720,641 
Net interest spread (tax-equivalent)3.21 %2.65 %
Net interest margin (tax-equivalent)3.32 %2.77 %
______________________________
1 Includes tax effect of $6.3 million and $6.5 million on tax-exempt municipal loan and lease income for the Year ended December 31, 2025 and 2024, 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 $7.0 million and $8.6 million on tax-exempt debt securities income for the Year ended December 31, 2025 and 2024, respectively.
4     Includes interest income of $28.9 million and $31.2 million on average interest-bearing cash balances of $680.0 million and $594.8 million for the Year ended December 31, 2025 and 2024, respectively.
5 Includes tax effect of $602 thousand and $832 thousand on federal income tax credits for the Year ended December 31, 2025 and 2024, respectively.
6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
20

Glacier Bancorp, Inc.
Loan Portfolio by Regulatory Classification
 Loans Receivable, by Loan Type% Change from
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Sep 30,
2025		Dec 31,
2024
Custom and owner occupied construction
$263,713 $231,238 $242,844 14 %9 %
Pre-sold and spec construction255,542 217,413 191,926 18 %33 %
Total residential construction
519,255 448,651 434,770 16 %19 %
Land development263,262 197,981 197,369 33 %33 %
Consumer land or lots247,769 207,816 187,024 19 %32 %
Unimproved land167,796 137,720 113,532 22 %48 %
Developed lots for operative builders
69,786 56,180 61,661 24 %13 %
Commercial lots155,631 99,220 99,243 57 %57 %
Other construction1,122,350 982,743 693,461 14 %62 %
Total land, lot, and other construction
2,026,594 1,681,660 1,352,290 21 %50 %
Owner occupied3,950,726 3,570,671 3,197,138 11 %24 %
Non-owner occupied4,859,173 4,333,302 4,053,996 12 %20 %
Total commercial real estate
8,809,899 7,903,973 7,251,134 11 %21 %
Commercial and industrial1,649,101 1,554,832 1,395,997 6 %18 %
Agriculture1,282,861 1,189,948 1,024,520 8 %25 %
First lien3,098,023 2,579,418 2,481,918 20 %25 %
Junior lien106,205 81,568 76,303 30 %39 %
Total 1-4 family3,204,228 2,660,986 2,558,221 20 %25 %
Multifamily residential1,019,484 969,573 895,242 5 %14 %
Home equity lines of credit1,076,201 1,056,757 1,005,783 2 %7 %
Other consumer237,393 192,501 209,457 23 %13 %
Total consumer1,313,594 1,249,258 1,215,240 5 %8 %
States and political subdivisions964,591 994,062 983,601 (3)%(2)%
Other177,375 180,711 183,894 (2)%(4)%
Total loans receivable, including
  loans held for sale
20,966,982 18,833,654 17,294,909 11 %21 %
Less loans held for sale 1
(39,186)(42,668)(33,060)(8)%19 %
Total loans receivable$20,927,796 $18,790,986 $17,261,849 11 %21 %
______________________________
1 Loans held for sale are primarily first lien 1-4 family loans.

21

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)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Dec 31,
2025		Dec 31,
2025		Dec 31,
2025
Custom and owner occupied construction
$183 476 198 183 — — 
Pre-sold and spec construction919 2,039 2,132 919 — — 
Total residential construction
1,102 2,515 2,330 1,102 — — 
Land development898 917 966 898 — — 
Consumer land or lots79 358 78 79 — — 
Developed lots for operative builders
456 456 531 — 456 — 
Commercial lots556 — 47 556 — — 
Other construction129 — — — — 129 
Total land, lot and other construction
2,118 1,731 1,622 1,533 456 129 
Owner occupied3,969 5,237 2,979 3,360 609 — 
Non-owner occupied7,606 691 2,235 7,606 — — 
Total commercial real estate
11,575 5,928 5,214 10,966 609 — 
Commercial and Industrial27,308 24,165 2,069 26,147 1,143 18 
Agriculture3,549 5,408 2,335 2,436 1,113 — 
First lien15,816 8,388 9,053 13,583 2,233 — 
Junior lien1,776 765 315 1,776 — — 
Total 1-4 family17,592 9,153 9,368 15,359 2,233 — 
Multifamily residential395 1,039 389 395 — — 
Home equity lines of credit3,968 3,402 3,465 3,600 213 155 
Other consumer1,229 852 955 949 171 109 
Total consumer5,197 4,254 4,420 4,549 384 264 
Other59 119 39 — 59 — 
Total$68,895 54,312 27,786 62,487 5,997 411 

22

Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification (continued)
 Accruing 30-89 Days Delinquent Loans,  by Loan Type% Change from
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Sep 30,
2025		Dec 31,
2024
Custom and owner occupied construction
$533 $305 $969 75 %(45)%
Pre-sold and spec construction1,189 — 564 n/m111 %
Total residential construction
1,722 305 1,533 465 %12 %
Land development3,994 — 1,450 n/m175 %
Consumer land or lots1,162 564 402 106 %189 %
Unimproved land— 33 36 (100)%(100)%
Developed lots for operative builders
2,300 5,265 214 (56)%975 %
Commercial lots965 — — n/mn/m
Other construction4,787 — — n/mn/m
Total land, lot and other construction
13,208 5,862 2,102 125 %528 %
Owner occupied6,103 3,809 2,867 60 %113 %
Non-owner occupied15,388 7,615 5,037 102 %205 %
Total commercial real estate
21,491 11,424 7,904 88 %172 %
Commercial and industrial10,215 3,711 6,194 175 %65 %
Agriculture2,390 2,104 744 14 %221 %
First lien19,699 5,357 6,326 268 %211 %
Junior lien20 — 214 n/m(91)%
Total 1-4 family19,719 5,357 6,540 268 %202 %
Multifamily Residential150 150 — — %n/m
Home equity lines of credit5,415 7,421 3,731 (27)%45 %
Other consumer1,866 1,751 1,775 7 %5 %
Total consumer7,281 9,172 5,506 (21)%32 %
Other2,650 1,439 1,705 84 %55 %
Total$78,826 $39,524 $32,228 99 %145 %
______________________________
n/m - not measurable


23

Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification (continued)
 Net Charge-Offs (Recoveries), Year-to-Date
Period Ending, By Loan Type		Charge-OffsRecoveries
(Dollars in thousands)Dec 31,
2025		Sep 30,
2025		Dec 31,
2024		Dec 31,
2025		Dec 31,
2025
Pre-sold and spec construction$— — (4)51 51 
Land development(358)(358)1,095 — 358 
Consumer land or lots(5)(5)(22)— 5 
Unimproved land— — 1,338 — — 
Developed lots for operative builders
(8)— — — 8 
Commercial lots— — 319 — — 
Total land, lot and other construction
(371)(363)2,730 — 371 
Owner occupied(2)(1)(73)— 2 
Non-owner occupied2,232 (11)2 2,243 11 
Total commercial real estate2,230 (12)(71)2,243 13 
Commercial and industrial2,104 655 1,422 3,056 952 
Agriculture(112)(111)64 — 112 
First lien(182)(158)32 1 183 
Junior lien(38)(34)(65)126 164 
Total 1-4 family(220)(192)(33)127 347 
Home equity lines of credit43 (27)69 106 63 
Other consumer1,600 1,151 1,078 1,922 322 
Total consumer1,643 1,124 1,147 2,028 385 
Other7,448 5,253 8,643 11,177 3,729 
Total$12,722 6,354 13,898 18,682 5,960 




















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