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Glacier Bancorp (GBCI) GBCI Financial Results Summary

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Glacier Bancorp, Inc. (GBCI) Q3 2025 Financial Results Summary

On October 16, 2025, Glacier Bancorp, Inc. (NYSE: GBCI) announced its financial results for the third quarter and period ended September 30, 2025. Below is a summary of the key highlights:

Q3 2025 Highlights

  • Net Income:

  • $67.9 million for Q3 2025, a 29% increase from $52.8 million in Q2 2025, and a 33% increase from $51.1 million in Q3 2024.

  • Diluted Earnings Per Share (EPS):

  • $0.57 per share, reflecting a 27% increase from $0.45 in both the previous quarter and the same quarter last year.

  • Net Interest Income:

  • $225 million, a 9% increase from $208 million in Q2, and a 25% increase from $180 million in Q3 2024.

  • Loan Portfolio:

  • Total loans grew to $18.791 billion, an increase of 6% annualized from Q2 2025.

  • Total Deposits:

  • Total deposits stood at $21.871 billion, marking a 4% increase annualized from the prior quarter.

  • Non-Interest Bearing Deposits:

  • Increased by 5% annualized, totaling $6.674 billion.

  • Net Interest Margin:

  • 3.39%, up 18 basis points from 3.21% in Q2, and 56 basis points from 2.83% in Q3 2024.

  • Loan Yield:

  • 5.97% for the quarter, an 11 basis point increase from the previous quarter and a 28 basis point gain from Q3 2024.

  • Total Earning Asset Yield:

  • 4.86%, up by 13 basis points from Q2, and increased by 34 basis points from Q3 2024.

  • Cost of Funding:

  • Total funding costs decreased to 1.58%, a 5 basis point reduction from Q2 and a 21 basis point decrease from Q3 2024.

  • Dividend Declaration:

  • The Company declared a quarterly dividend of $0.33 per share, marking the 162nd consecutive quarterly dividend and totaling $0.99 per share year-to-date.

Year-to-Date 2025 Highlights

  • Net Income:

  • $175 million for the first nine months, a 36% increase from $128 million in the same period last year.

  • Diluted EPS:

  • $1.51, representing a 34% increase from $1.13 in the prior year.

  • Net Interest Income:

  • Totaled $623 million, showing a 21% increase from $513 million last year.

  • Loan Portfolio Growth:

  • Increased by $1.529 billion, or 9% year-to-date.

  • Total Deposits:

  • Increased by $1.324 billion, or 6% year-to-date.

  • Net Interest Margin:

  • 3.21%, a 51 basis point increase compared to 2.70% in the same period last year.

Acquisition Activity

  • Completed the acquisition of Bank of Idaho Holding Co. as of April 30, 2025. Significant integration efforts were finalized during this quarter.

Credit Quality Metrics

  • Total non-performing assets increased to $54.312 million, a 12% increase over Q2 and a 93% increase year-over-year.

  • Non-performing assets as a percentage of total assets rose to 0.19% from 0.17% in the previous quarter and 0.10% a year ago.

  • Net charge-offs for Q3 2025 were reported at $2.9 million, compared to $1.6 million in Q2 and $2.8 million in Q3 2024.

Operating Efficiency

  • The efficiency ratio for Q3 2025 stood at 62.05%, slightly improved from 62.08% in Q2 and significantly better than 64.92% in Q3 2024.

In conclusion, Glacier Bancorp, Inc. reported robust growth during Q3 2025, showcasing significant net income, earnings per share growth, and continued stability in its deposit base, while facing challenges in credit quality metrics due to market conditions. The firm continues to enhance its reach and operations following strategic acquisitions this year.

Condensed Consolidated Statements of Income (in thousands)

Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Sep 30, 2024 Nine Months ended Sep 30, 2025 Sep 30, 2024
Net income 67,900 52,781 54,568 51,055 175,249 128,390
Basic earnings per share 0.57 0.45 0.48 0.45 1.51 1.14
Diluted earnings per share 0.57 0.45 0.48 0.45 1.51 1.13
Dividends declared per share 0.33 0.33 0.33 0.33 0.99 0.99
Closing stock price 48.67 43.08 44.22 45.70 48.67 45.70
High 50.54 44.70 52.81 47.71 52.81 47.71
Low 42.08 36.76 43.18 35.57 36.76 34.35
Number of common shares 118,581 118,395 113,631 113,421 118,521 113,321
Average diluted shares 118,640 116,231 113,431 113,452 116,321 113,131
Return on average assets 0.93% 0.74% 0.80% 0.73% 0.82% 0.62%
Return on average equity 7.52% 6.13% 6.77% 6.34% 6.82% 5.47%
Efficiency ratio 62.05% 62.08% 65.49% 64.92% 63.12% 68.98%

Condensed Consolidated Balance Sheets (in thousands)

Sep 30, 2025 Jun 30, 2025 Dec 31, 2024 Sep 30, 2024
Assets
Cash on hand and in banks 312,506 375,398 268,746 342,105
Interest bearing cash deposits 541,738 540,109 579,662 645,728
Cash and cash equivalents 854,244 915,507 848,408 987,833
Debt securities, available-for-sale 3,916,189 4,024,980 4,245,205 4,436,578
Debt securities, held-to-maturity 3,155,901 3,206,133 3,294,847 3,348,698
Total debt securities 7,072,090 7,231,113 7,540,052 7,785,276
Loans receivable 18,790,986 18,532,740 17,261,849 17,181,187
Allowance for credit losses -229,077 -226,799 -206,041 -205,170
Loans receivable, net 18,561,909 18,305,941 17,055,808 16,976,017
Total assets 29,015,627 29,004,983 27,902,987 28,205,769
Liabilities
Non-interest bearing deposits 6,674,441 6,593,728 6,136,709 6,407,728
Interest bearing deposits 15,196,508 15,034,774 14,410,285 14,307,036
Total deposits 21,870,949 21,628,502 20,546,994 20,714,764
Total liabilities 25,407,339 25,472,719 24,679,133 24,960,719
Stockholders’ equity
Total stockholders’ equity 3,608,288 3,532,264 3,223,854 3,245,050
Total liabilities and stockholders’ 29,015,627 29,004,983 27,902,987 28,205,769

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