Glacier Bancorp, Inc. Announces Results For the Quarter and Period Ended March 31, 2025

Rhea-AI Summary

Glacier Bancorp (GBCI) reported Q1 2025 net income of $54.6 million, showing a 12% decrease from Q4 2024 but a 67% increase from Q1 2024. Diluted earnings per share was $0.48, down 11% quarter-over-quarter but up 66% year-over-year.

Key financial metrics include: net interest margin increased to 3.04%, total deposits grew to $20.634 billion (up $87.1 million), and loan yield improved to 5.77%. The Company maintained its dividend at $0.33 per share, marking 160 consecutive quarterly dividends.

GBCI announced the acquisition of Bank of Idaho Holding Co. with $1.3 billion in assets, scheduled to close on April 30, 2025. This represents GBCI's 26th bank acquisition since 2000. Non-performing assets increased to 0.14% of subsidiary assets, up from 0.10% in the previous quarter, primarily due to a single credit relationship.

Positive

• Net income increased 67% year-over-year to $54.6 million
• Net interest margin improved to 3.04%, up 45 basis points year-over-year
• Total deposits increased by $87.1 million to $20.634 billion
• Strategic acquisition of Bank of Idaho adding $1.3 billion in assets

Negative

• Net income decreased 12% quarter-over-quarter
• Diluted EPS declined 11% from previous quarter to $0.48
• Non-performing assets increased to 0.14% from 0.10% in previous quarter
• Early stage delinquencies increased by $14.2 million from prior quarter

Insights

Banking Financial Analyst

Mixed Q1 results with notable YoY improvements offset by QoQ earnings decline and rising non-performing assets.

Glacier Bancorp's Q1 2025 results reveal a paradoxical performance pattern with significant year-over-year improvements contrasting against sequential quarterly pressures. Net income reached $54.6 million, declining 12% from Q4 2024 but surging 67% from Q1 2024. This translates to diluted EPS of $0.48, down 11% sequentially but up 66% year-over-year.

The bank's margin dynamics are trending positively, with net interest margin expanding to 3.04%, up 7 basis points from Q4 and 45 basis points year-over-year. This expansion stems from the widening gap between rising loan yields (5.77%, up 5bps QoQ) and declining deposit costs (1.25%, down 4bps QoQ) – a fundamental banking profitability driver.

Credit quality metrics warrant attention as non-performing assets increased to 0.14% of subsidiary assets, up from 0.10% in Q4. The bank attributed this primarily to a single credit relationship, but early-stage delinquencies also rose to 0.27% from 0.19% in Q4. Management has responded by increasing the allowance for credit losses to 1.22% of total loans, up from 1.19%.

Deposit growth remains modest but positive at 2% annualized, reaching $20.63 billion. The bank has decreased reliance on Federal Home Loan Bank advances by $280 million during the quarter, shifting toward more stable core deposit funding.

The consistent $0.33 quarterly dividend (the 160th consecutive quarterly dividend) demonstrates management's confidence in capital position despite mixed performance indicators.

M&A Specialist

BOID acquisition continues Glacier's consolidation strategy, expanding footprint in Idaho and Washington with regulatory approvals secured.

Glacier Bancorp's announced acquisition of Bank of Idaho Holding Co. (BOID) represents the latest strategic move in the company's extensive consolidation playbook. This transaction will be Glacier's 26th bank acquisition since 2000 and 12th announced transaction in the past decade, demonstrating consistent execution of their growth-by-acquisition strategy.

The target's profile is significant: BOID brings $1.3 billion in assets, $1.1 billion in loans, and $1.1 billion in deposits across 15 branches spanning eastern Idaho, Boise, and eastern Washington. This geographic distribution complements Glacier's existing footprint, with plans to integrate BOID's operations into three existing Glacier Bank divisions based on geographic alignment.

Integration planning appears well-advanced, with clear designation of which BOID branches will join which Glacier divisions: Eastern Idaho operations will merge with Citizens Community Bank, Boise operations with Mountain West Bank, and Eastern Washington operations with Wheatland Bank. This deliberate integration approach suggests thoughtful planning to maintain customer relationships and leverage market knowledge.

The transaction has secured all required regulatory approvals and is scheduled to close on April 30, 2025, pending BOID shareholder approval. The rapid progression from January 13 announcement to late April closing indicates efficient regulatory review, suggesting competitive concerns from regulators.

While financial terms weren't disclosed in this release, the integration of BOID's assets will increase Glacier's total assets by approximately 4.7%, representing a meaningful but manageable expansion that aligns with their demonstrated capability to digest acquisitions of this scale.

1st Quarter 2025 Highlights:

• Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of $0.29 per share.
• Net income was $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent, from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the prior year first quarter net income of $32.6 million.
• The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.04 percent, an increase of 7 basis points from the prior quarter net interest margin of 2.97 percent and an increase of 45 basis points from the prior year first quarter net interest margin of 2.59 percent.
• Total deposits of $20.634 billion increased $87.1 million, or 2 percent annualized, during the current quarter.
• The loan yield of 5.77 percent in the current quarter increased 5 basis points from the prior quarter loan yield of 5.72 percent and increased 31 basis points from the prior year first quarter loan yield of 5.46 percent.
• The total earning asset yield of 4.61 percent in the current quarter increased 4 basis points from the prior quarter earning asset yield of 4.57 percent and increased 30 basis points from the prior year first quarter earning asset yield of 4.31 percent.
• The total core deposit cost (including non-interest bearing deposits) of 1.25 percent in the current quarter decreased 4 basis point from the prior quarter total core deposit cost of 1.29 percent.
• The total cost of funding (including non-interest bearing deposits) of 1.68 percent in the current quarter decreased 3 basis point from the prior quarter total cost of funding of 1.71 percent.
• The Company declared a quarterly dividend of $0.33 per share. The Company has declared 160 consecutive quarterly dividends and has increased the dividend 49 times.
  
  
• The Company announced the signing of a definitive agreement to acquire Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”) which had total assets of $1.3 billion as of March 31, 2025. This will be the Company’s 26th bank acquisition since 2000 and its 12th announced transaction in the past 10 years.
  

Financial Summary  

	At or for the Three Months ended
(Dollars in thousands, except per share and market data)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024
Operating results
Net income	$	54,568			61,754			32,627
Basic earnings per share	$	0.48			0.54			0.29
Diluted earnings per share	$	0.48			0.54			0.29
Dividends declared per share	$	0.33			0.33			0.33
Market value per share
Closing	$	44.22			50.22			40.28
High	$	52.81			60.67			42.75
Low	$	43.18			43.70			34.74
Selected ratios and other data
Number of common stock shares outstanding		113,517,944			113,401,955			113,388,590
Average outstanding shares - basic		113,451,199			113,398,213			112,492,142
Average outstanding shares - diluted		113,546,365			113,541,026			112,554,402
Return on average assets (annualized)		0.80	%		0.87	%		0.47	%
Return on average equity (annualized)		6.77	%		7.62	%		4.25	%
Efficiency ratio		65.49	%		60.50	%		74.41	%
Loan to deposit ratio		83.64	%		84.17	%		82.04	%
Number of full time equivalent employees		3,457			3,441			3,438
Number of locations		227			227			232
Number of ATMs		286			284			285

KALISPELL, Mont., April 24, 2025 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the $32.6 million of net income for the prior year first quarter. Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 65 percent from the prior year first quarter diluted earnings per share of $0.29. “We are very pleased with the long-term positive trends we see in our Company. Deposit costs are decreasing, loan yields are increasing, and margin continues to grow,” said Randy Chesler, President and Chief Executive Officer. “While uncertainty about the economy persists, we remain optimistic about our customers’ ability to quickly adapt to a changing environment.”

On January 13, 2025, the Company announced the signing of a definitive agreement to acquire BOID with 15 branches across eastern Idaho, Boise and eastern Washington. As of March 31, 2025, BOID had total assets of $1.3 billion, total loans of $1.1 billion and total deposits of $1.1 billion. Upon closing of the transaction, the BOID operations will join three existing Glacier Bank divisions. The Eastern Idaho operations of Bank of Idaho will join Citizens Community Bank, the Boise operations will join Mountain West Bank and the Eastern Washington operations will join Wheatland Bank. The acquisition has received all required regulatory approvals and is scheduled to close on April 30, 2025, subject to satisfaction of the remaining conditions set forth in the merger agreement and the approval by the BOID shareholders.

Asset Summary

											$ Change from
(Dollars in thousands)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024			Dec 31, 2024			Mar 31, 2024
Cash and cash equivalents	$	981,485			848,408			788,660			133,077			192,825
Debt securities, available-for-sale		4,172,312			4,245,205			4,629,073			(72,893	)		(456,761	)
Debt securities, held-to-maturity		3,261,575			3,294,847			3,451,583			(33,272	)		(190,008	)
Total debt securities		7,433,887			7,540,052			8,080,656			(106,165	)		(646,769	)
Loans receivable
Residential real estate		1,850,079			1,858,929			1,752,514			(8,850	)		97,565
Commercial real estate		10,952,809			10,963,713			10,672,269			(10,904	)		280,540
Other commercial		3,121,477			3,119,535			3,030,608			1,942			90,869
Home equity		920,132			930,994			883,062			(10,862	)		37,070
Other consumer		374,021			388,678			394,049			(14,657	)		(20,028	)
Loans receivable		17,218,518			17,261,849			16,732,502			(43,331	)		486,016
Allowance for credit losses		(210,400	)		(206,041	)		(198,779	)		(4,359	)		(11,621	)
Loans receivable, net		17,008,118			17,055,808			16,533,723			(47,690	)		474,395
Other assets		2,435,389			2,458,719			2,419,131			(23,330	)		16,258
Total assets	$	27,858,879			27,902,987			27,822,170			(44,108	)		36,709

The Company continues to maintain a strong cash position of $981 million at March 31, 2025 which was an increase of $133 million over the prior quarter and an increase of $193 million over the prior year first quarter. Total debt securities of $7.434 billion at March 31, 2025 decreased $106 million, or 1 percent, during the current quarter and decreased $647 million, or 8 percent, from the prior year first quarter. Debt securities represented 27 percent of total assets at March 31, 2025 and December 31, 2024 compared to 29 percent at March 31, 2024.

The loan portfolio of $17.219 billion at March 31, 2025 decreased $43 million, or 25 basis points, during the current quarter and increased $486 million, or 3 percent, from the prior year first quarter. Excluding the Rocky Mountain Bank (“RMB”) acquisition on July 19, 2024, the loan portfolio organically increased $214 million, or 1 percent, since the prior year first quarter. Excluding the RMB acquisition, the loan category with the largest dollar increase in the last twelve months was commercial real estate which increased $159 million, or 1 percent.

Credit Quality Summary

	At or for the Three Months ended				At or for the Year ended			At or for the Three Months ended
(Dollars in thousands)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024
Allowance for credit losses
Balance at beginning of period	$	206,041			192,757			192,757
Acquisitions		—			3			3
Provision for credit losses		6,154			27,179			9,091
Charge-offs		(3,897	)		(18,626	)		(4,295	)
Recoveries		2,102			4,728			1,223
Balance at end of period	$	210,400			206,041			198,779
Provision for credit losses
Loan portfolio	$	6,154			27,179			9,091
Unfunded loan commitments		1,660			1,127			(842	)
Total provision for credit losses	$	7,814			28,306			8,249
Other real estate owned	$	1,085			1,085			432
Other foreclosed assets		68			79			459
Accruing loans 90 days or more past due		5,289			6,177			3,796
Non-accrual loans		32,896			20,445			20,738
Total non-performing assets	$	39,338			27,786			25,425
Non-performing assets as a percentage of subsidiary assets		0.14	%		0.10	%		0.09	%
Allowance for credit losses as a percentage of non-performing loans		551	%		774	%		810	%
Allowance for credit losses as a percentage of total loans		1.22	%		1.19	%		1.19	%
Net charge-offs as a percentage of total loans		0.01	%		0.08	%		0.02	%
Accruing loans 30-89 days past due	$	46,458			32,228			62,423
U.S. government guarantees included in non-performing assets	$	685			748			1,490

Non-performing assets as a percentage of subsidiary assets at March 31, 2025 was 0.14 percent compared to 0.10 percent in the prior quarter and 0.09 percent in the prior year first quarter. Non-performing assets of $39.3 million at March 31, 2025 increased $11.6 million, or 42 percent, over the prior quarter and increased $13.9 million, or 55 percent, over the prior year first quarter. The increase in the non-performing loans in the current quarter was primarily attributable to a single credit relationship.

Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at March 31, 2025 were 0.27 percent compared to 0.19 percent for the prior quarter end and 0.37 percent for the prior year first quarter. Early stage delinquencies of $46.5 million at March 31, 2025 increased $14.2 million from the prior quarter and decreased $16.0 million from prior year first quarter.

The current quarter credit loss expense of $7.8 million included $6.2 million of provision for credit losses on loans and $1.7 million of provision for credit losses on unfunded commitments.

The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding at March 31, 2025 was 1.22 percent compared to 1.19 percent at year end and the prior year first quarter. 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 provision for credit losses for loans. 

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
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	%
Third quarter 2024		6,981			2,766		1.19	%		0.33	%		0.10	%
Second quarter 2024		5,066			2,890		1.19	%		0.29	%		0.06	%
First quarter 2024		9,091			3,072		1.19	%		0.37	%		0.09	%
Fourth quarter 2023		4,181			3,695		1.19	%		0.31	%		0.09	%
Third quarter 2023		5,095			2,209		1.19	%		0.09	%		0.15	%
Second quarter 2023		5,254			2,473		1.19	%		0.16	%		0.12	%

Net charge-offs for the current quarter were $1.8 million compared to $5.2 million in the prior quarter and $3.1 million for the prior year first quarter. The current quarter net charge-offs included $1.9 million in deposit overdraft net charge-offs and $78 thousand of net loan recoveries.

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)	Mar 31, 2025			Dec 31, 2024		Mar 31, 2024		Dec 31, 2024			Mar 31, 2024
Deposits
Non-interest bearing deposits	$	6,100,548		6,136,709		6,055,069		(36,161	)		45,479
NOW and DDA accounts		5,676,177		5,543,512		5,376,605		132,665			299,572
Savings accounts		2,896,378		2,845,124		2,949,908		51,254			(53,530	)
Money market deposit accounts		2,816,874		2,878,213		3,002,942		(61,339	)		(186,068	)
Certificate accounts		3,140,333		3,139,821		3,039,190		512			101,143
Core deposits, total		20,630,310		20,543,379		20,423,714		86,931			206,596
Wholesale deposits		3,740		3,615		3,809		125			(69	)
Deposits, total		20,634,050		20,546,994		20,427,523		87,056			206,527
Repurchase agreements		1,849,070		1,777,475		1,540,008		71,595			309,062
Deposits and repurchase agreements, total		22,483,120		22,324,469		21,967,531		158,651			515,589
Federal Home Loan Bank advances		1,520,000		1,800,000		2,140,157		(280,000	)		(620,157	)
Other borrowed funds		82,443		83,341		88,814		(898	)		(6,371	)
Subordinated debentures		133,145		133,105		132,984		40			161
Other liabilities		352,563		338,218		381,977		14,345			(29,414	)
Total liabilities	$	24,571,271		24,679,133		24,711,463		(107,862	)		(140,192	)

Total deposits of $20.634 billion at March 31, 2025 increased $87.1 million, or 2 percent annualized, from the prior quarter and increased $207 million, or 1 percent, from the prior year first quarter. Total repurchase agreements of $1.849 billion at March 31, 2025 increased $71.6 million, or 4 percent, from the prior quarter and increased $309 million, or 20 percent, from the prior year first quarter. Total deposits organically decreased $190 million, or 1 percent, from the prior year first quarter and total deposits and repurchase agreements organically increased $115 million, or 52 basis points, from the prior year first quarter. Non-interest bearing deposits represented 30 percent of total deposits at March 31, 2025, December 31, 2024 and March 31, 2024. Federal Home Loan Bank (“FHLB”) advances of $1.520 billion decreased $280 million, or 16 percent, from the prior quarter and decreased $620 million, or 29 percent, from the prior year first quarter.

Stockholders’ Equity Summary

											$ Change from
(Dollars in thousands, except per share data)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024			Dec 31, 2024		Mar 31, 2024
Common equity	$	3,550,719			3,533,150			3,483,012			17,569		67,707
Accumulated other comprehensive loss		(263,111	)		(309,296	)		(372,305	)		46,185		109,194
Total stockholders’ equity		3,287,608			3,223,854			3,110,707			63,754		176,901
Goodwill and intangibles, net		(1,099,229	)		(1,102,500	)		(1,069,808	)		3,271		(29,421	)
Tangible stockholders’ equity	$	2,188,379			2,121,354			2,040,899			67,025		147,480
Stockholders’ equity to total assets		11.80	%		11.55	%		11.18	%
Tangible stockholders’ equity to total tangible assets		8.18	%		7.92	%		7.63	%
Book value per common share	$	28.96			28.43			27.43			0.53		1.53
Tangible book value per common share	$	19.28			18.71			18.00			0.57		1.28

Tangible stockholders’ equity of $2.188 billion at March 31, 2025 increased $67.0 million, or 3 percent, compared to the prior quarter and was primarily the result of a decrease in unrealized loss on the available-for-sale debt securities and earnings retention. Tangible stockholders’ equity at March 31, 2025 increased $147 million, or 7 percent, compared to the prior year first quarter and was primarily due to the decrease in unrealized loss on the available-for-sale debt securities and earnings retention. The increase was partially offset by the increase in goodwill and core deposits associated with the RMB acquisition. Tangible book value per common share of $19.28 at the current quarter end increased $0.57 per share, or 3 percent, from the prior quarter and increased $1.28 per share, or 7 percent, from the prior year first quarter.

Cash Dividends
On March 26, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable April 17, 2025 to shareholders of record on April 8, 2025. The dividend was the Company’s 160th 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 March 31, 2025 
Compared to December 31, 2024, and March 31, 2024

Income Summary

	Three Months ended										$ Change from
(Dollars in thousands)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024			Dec 31, 2024			Mar 31, 2024
Net interest income
Interest income	$	289,925			297,036			279,402			(7,111	)		10,523
Interest expense		99,946			105,593			112,922			(5,647	)		(12,976	)
Total net interest income		189,979			191,443			166,480			(1,464	)		23,499
Non-interest income
Service charges and other fees		18,818			20,322			18,563			(1,504	)		255
Miscellaneous loan fees and charges		4,664			4,541			4,362			123			302
Gain on sale of loans		4,311			3,926			3,362			385			949
Gain on sale of securities		—			—			16			—			(16	)
Other income		4,849			2,760			3,686			2,089			1,163
Total non-interest income		32,642			31,549			29,989			1,093			2,653
Total income	$	222,621			222,992			196,469			(371	)		26,152
Net interest margin (tax-equivalent)		3.04	%		2.97	%		2.59	%

Net Interest Income
Net interest income of $190 million for the current quarter decreased $1.5 million, or 1 percent, from the prior quarter net interest income of $191 million and increased $23.5 million, or 14 percent, from the prior year first quarter net interest income of $166 million. The current quarter interest income of $290 million decreased $7.1 million, or 2 percent, over the prior quarter and was primarily driven by fewer days in the current quarter coupled with decreased average interest-bearing cash balances. The current quarter interest income increased $10.5 million, or 4 percent, over the prior year first quarter primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 5.77 percent in the current quarter increased 5 basis points from the prior quarter loan yield of 5.72 percent and increased 31 basis points from the prior year first quarter loan yield of 5.46 percent.

The current quarter interest expense of $99.9 million decreased $5.6 million, or 5 percent, over the prior quarter and was primarily attributable to a decrease in deposit costs. The current quarter interest expense decreased $13.0 million, or 11 percent, over the prior year first quarter and was primarily the result of lower average wholesale borrowings and a decrease in deposit costs. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for the current quarter compared to 1.29 percent in the prior quarter and 1.34 percent for the prior year first quarter. The total cost of funding (including non-interest bearing deposits) of 1.68 percent in the current quarter decreased 3 basis points from the prior quarter and decreased 16 basis point from the prior year first quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.04 percent, an increase of 7 basis points from the prior quarter net interest margin of 2.97 percent and was primarily driven by an increase in loan yields and a decrease in 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 45 basis points from the prior year first quarter net interest margin of 2.59 percent and was primarily driven by the increase in loan yields and the decrease in core deposit cost. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 5 basis points from discount accretion, the core net interest margin was 2.99 percent in the current quarter compared to 2.97 percent in the prior quarter and 2.59 in the prior year first quarter. “The Company’s net interest margin increased for the fifth consecutive quarter,” said Ron Copher, Chief Financial Officer. “The continued increase in loan yields and decrease in the deposit costs contributed to the 7 basis points increase in the net interest margin as it expanded to 3.04 percent in the current quarter.”

Non-interest Income
Non-interest income for the current quarter totaled $32.6 million, which was an increase of $1.1 million, or 3 percent, over the prior quarter and an increase of $2.7 million, or 9 percent, over the prior year first quarter. Service charges and other fees of $18.8 million for the current quarter decreased $1.5 million, or 7 percent, compared to the prior quarter and increased $255 thousand, or 1 percent, compared to the prior year first quarter. Gain on the sale of residential loans of $4.3 million for the current quarter increased $385 thousand, or 10 percent, compared to the prior quarter and increased $949 thousand, or 28 percent, from the prior year first quarter. Other income of $4.8 million increased $2.1 million, or 75 percent, over the prior quarter primarily due to other income of $1.1 million related to bank owned life insurance proceeds coupled with an increase in income from equity investments and other one-time adjustments. Other income increased $1.2 million, or 32 percent, over the prior year first quarter primarily due to the current quarter proceeds from bank owned life insurance.

Non-interest Expense Summary

	Three Months ended							$ Change from
(Dollars in thousands)	Mar 31, 2025			Dec 31, 2024		Mar 31, 2024		Dec 31, 2024			Mar 31, 2024
Compensation and employee benefits	$	91,443		81,600		85,789		9,843			5,654
Occupancy and equipment		12,294		11,589		11,883		705			411
Advertising and promotions		4,144		3,725		3,983		419			161
Data processing		9,138		9,145		9,159		(7	)		(21	)
Other real estate owned and foreclosed assets		63		30		25		33			38
Regulatory assessments and insurance		5,534		5,890		7,761		(356	)		(2,227	)
Intangibles amortization		3,270		3,613		2,760		(343	)		510
Other expenses		25,432		25,373		30,483		59			(5,051	)
Total non-interest expense	$	151,318		140,965		151,843		10,353			(525	)

Total non-interest expense of $151 million for the current quarter increased $10.4 million, or 7 percent, over the prior quarter and decreased $525 thousand, or 35 basis points, over the prior year first quarter. Compensation and employee benefits of $91.4 million increased by $9.8 million, or 12 percent, over the prior quarter and was primarily attributable to increased performance-related compensation. Compensation and employee benefits increased $5.6 million, or 7 percent, from the prior year first quarter and was primarily driven by annual salary increases and increases in staffing levels from prior year acquisitions. Regulatory assessment and insurance expense of $5.5 million decreased $2.2 million from the prior year first quarter as a result of adjustments to the FDIC special assessment.

Other expenses of $25.4 million increased $59 thousand, or 23 basis points, from the prior quarter. Other expenses decreased $5.1 million, or 17 percent, from the prior year first quarter and was primarily driven by a decrease in acquisition-related expense. Acquisition-related expense was $587 thousand in the current quarter compared to $491 thousand in the prior quarter and $5.7 million in the prior year first quarter. The current quarter other expenses included $1.2 million of gain from the sale of a former branch facility compared to a $2.1 million gain in the prior quarter and a $989 thousand gain in the prior year first quarter.

Federal and State Income Tax Expense

Tax expense during the first quarter of 2025 was $8.9 million, a decrease of $2.8 million, or 24 percent, compared to the prior quarter and an increase of $5.2 million, or 138 percent, from the prior year first quarter. The effective tax rate in the current quarter was 14.1 percent compared to 16.0 percent in the prior quarter. The lower tax expense and lower effective tax rate in the current quarter compared to the prior quarter was the result of a combination of higher federal income tax credits and a decrease in income before income tax expense.

Efficiency Ratio
The efficiency ratio was 65.49 percent in the current quarter compared to 60.50 percent in the prior quarter and 74.41 percent in the prior year first quarter. The increase from the prior quarter was principally driven by the decrease in net interest income combined with an increase in non-interest expense. The decrease from the prior year first quarter was principally due to the increase in net interest income.

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 increased FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increased 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 and the potential for significant changes in economic and trade policies in the new 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 and the Middle East;
• risks associated with the Company’s ability to negotiate, complete, and successfully integrate any pending or future acquisitions;
• costs or difficulties related to the completion and integration of pending or future 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 or further consolidation in the financial services industry, resulting in 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, April 25, 2025. 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/BI3016c4b5b4bd4b0aac8f022e74f4c1d4. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/ejk9q5pb. 

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 eight state Western U.S. 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), 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).

CONTACT: Randall M. Chesler, CEO

(406) 751-4722

Ron J. Copher, CFO

(406) 751-7706

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition
(Dollars in thousands, except per share data)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024
Assets
Cash on hand and in banks	$	322,253			268,746			232,064
Interest bearing cash deposits		659,232			579,662			556,596
Cash and cash equivalents		981,485			848,408			788,660
Debt securities, available-for-sale		4,172,312			4,245,205			4,629,073
Debt securities, held-to-maturity		3,261,575			3,294,847			3,451,583
Total debt securities		7,433,887			7,540,052			8,080,656
Loans held for sale, at fair value		40,523			33,060			27,035
Loans receivable		17,218,518			17,261,849			16,732,502
Allowance for credit losses		(210,400	)		(206,041	)		(198,779	)
Loans receivable, net		17,008,118			17,055,808			16,533,723
Premises and equipment, net		411,095			411,968			379,826
Right-of-use assets, net		54,441			56,252			63,447
Other real estate owned and foreclosed assets		1,153			1,164			891
Accrued interest receivable		103,992			99,262			106,063
Deferred tax asset		122,942			138,955			161,327
Intangibles, net		47,911			51,182			46,046
Goodwill		1,051,318			1,051,318			1,023,762
Non-marketable equity securities		88,134			99,669			111,129
Bank-owned life insurance		191,044			189,849			186,625
Other assets		322,836			326,040			312,980
Total assets	$	27,858,879			27,902,987			27,822,170
Liabilities
Non-interest bearing deposits	$	6,100,548			6,136,709			6,055,069
Interest bearing deposits		14,533,502			14,410,285			14,372,454
Securities sold under agreements to repurchase		1,849,070			1,777,475			1,540,008
FHLB advances		1,520,000			1,800,000			2,140,157
Other borrowed funds		82,443			83,341			88,814
Subordinated debentures		133,145			133,105			132,984
Accrued interest payable		30,231			33,626			32,584
Other liabilities		322,332			304,592			349,393
Total liabilities		24,571,271			24,679,133			24,711,463
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		1,135			1,134			1,134
Paid-in capital		2,449,311			2,448,758			2,443,584
Retained earnings - substantially restricted		1,100,273			1,083,258			1,038,294
Accumulated other comprehensive loss		(263,111	)		(309,296	)		(372,305	)
Total stockholders’ equity		3,287,608			3,223,854			3,110,707
Total liabilities and stockholders’ equity	$	27,858,879			27,902,987			27,822,170

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations
	Three Months ended
(Dollars in thousands)	Mar 31, 2025			Dec 31, 2024		Mar 31, 2024
Interest Income
Investment securities	$	45,646		50,381		56,218
Residential real estate loans		24,275		23,960		20,764
Commercial loans		197,388		199,260		181,472
Consumer and other loans		22,616		23,435		20,948
Total interest income		289,925		297,036		279,402
Interest Expense
Deposits		62,865		67,079		67,196
Securities sold under agreements to repurchase		13,733		14,822		12,598
Federal Home Loan Bank advances		20,719		21,848		4,249
FRB Bank Term Funding		—		—		27,097
Other borrowed funds		402		348		344
Subordinated debentures		2,227		1,496		1,438
Total interest expense		99,946		105,593		112,922
Net Interest Income		189,979		191,443		166,480
Provision for credit losses		7,814		8,534		8,249
Net interest income after provision for credit losses		182,165		182,909		158,231
Non-Interest Income
Service charges and other fees		18,818		20,322		18,563
Miscellaneous loan fees and charges		4,664		4,541		4,362
Gain on sale of loans		4,311		3,926		3,362
Gain on sale of securities		—		—		16
Other income		4,849		2,760		3,686
Total non-interest income		32,642		31,549		29,989
Non-Interest Expense
Compensation and employee benefits		91,443		81,600		85,789
Occupancy and equipment		12,294		11,589		11,883
Advertising and promotions		4,144		3,725		3,983
Data processing		9,138		9,145		9,159
Other real estate owned and foreclosed assets		63		30		25
Regulatory assessments and insurance		5,534		5,890		7,761
Intangibles amortization		3,270		3,613		2,760
Other expenses		25,432		25,373		30,483
Total non-interest expense		151,318		140,965		151,843
Income Before Income Taxes		63,489		73,493		36,377
Federal and state income tax expense		8,921		11,739		3,750
Net Income	$	54,568		61,754		32,627

Glacier Bancorp, Inc. Average Balance Sheets
	Three Months ended
	March 31, 2025									December 31, 2024
(Dollars in thousands)	Average Balance			Interest & Dividends			Average Yield/ Rate			Average Balance			Interest & Dividends			Average Yield/ Rate
Assets
Residential real estate loans	$	1,885,497		$	24,275		5.15	%		$	1,885,146		$	23,960		5.08	%
Commercial loans 1		14,091,210			198,921		5.73	%			14,059,864			200,956		5.69	%
Consumer and other loans		1,302,687			22,616		7.04	%			1,324,341			23,435		7.04	%
Total loans 2		17,279,394			245,812		5.77	%			17,269,351			248,351		5.72	%
Tax-exempt debt securities 3		1,604,851			13,936		3.47	%			1,615,474			14,501		3.59	%
Taxable debt securities 4, 5		6,946,562			33,598		1.93	%			7,314,265			38,189		2.09	%
Total earning assets		25,830,807			293,346		4.61	%			26,199,090			301,041		4.57	%
Goodwill and intangibles		1,100,801									1,104,362
Non-earning assets		847,855									888,404
Total assets	$	27,779,463								$	28,191,856
Liabilities
Non-interest bearing deposits	$	5,989,490		$	—		—	%		$	6,343,443		$	—		—	%
NOW and DDA accounts		5,525,976			15,065		1.11	%			5,491,451			15,768		1.14	%
Savings accounts		2,861,675			5,159		0.73	%			2,824,126			5,316		0.75	%
Money market deposit accounts		2,849,470			13,526		1.93	%			2,878,415			14,232		1.97	%
Certificate accounts		3,152,198			29,075		3.74	%			3,174,923			31,716		3.97	%
Total core deposits		20,378,809			62,825		1.25	%			20,712,358			67,032		1.29	%
Wholesale deposits 6		3,600			40		4.53	%			3,654			47		4.95	%
Repurchase agreements		1,842,773			13,733		3.02	%			1,866,705			14,821		3.16	%
FHLB advances		1,744,000			20,719		4.75	%			1,800,000			21,848		4.75	%
Subordinated debentures and other borrowed funds		216,073			2,629		4.94	%			216,874			1,845		3.38	%
Total funding liabilities		24,185,255			99,946		1.68	%			24,599,591			105,593		1.71	%
Other liabilities		326,764									369,700
Total liabilities		24,512,019									24,969,291
Stockholders’ Equity
Stockholders’ equity		3,267,444									3,222,565
Total liabilities and stockholders’ equity	$	27,779,463								$	28,191,856
Net interest income (tax-equivalent)				$	193,400								$	195,448
Net interest spread (tax-equivalent)							2.93	%								2.86	%
Net interest margin (tax-equivalent)							3.04	%								2.97	%

______________________________

1	Includes tax effect of $1.5 million and $1.7 million on tax-exempt municipal loan and lease income for the three months ended March 31, 2025 and December 31, 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 $1.7 million and $2.1 million on tax-exempt debt securities income for the three months ended March 31, 2025 and December 31, 2024, respectively.
4	Includes interest income of $6.1 million and $9.2 million on average interest-bearing cash balances of $559.5 million and $759.7 million for the three months ended March 31, 2025 and December 31, 2024, respectively.
5	Includes tax effect of $150 thousand and $203 thousand on federal income tax credits for the three months ended March 31, 2025 and December 31, 2024, respectively.
6	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Average Balance Sheets (continued)
	Three Months ended
	March 31, 2025									March 31, 2024
(Dollars in thousands)	Average Balance			Interest & Dividends			Average Yield/ Rate			Average Balance			Interest & Dividends			Average Yield/ Rate
Assets
Residential real estate loans	$	1,885,497		$	24,275		5.15	%		$	1,747,184		$	20,764		4.75	%
Commercial loans 1		14,091,210			198,921		5.73	%			13,513,426			183,045		5.45	%
Consumer and other loans		1,302,687			22,616		7.04	%			1,283,388			20,948		6.56	%
Total loans 2		17,279,394			245,812		5.77	%			16,543,998			224,757		5.46	%
Tax-exempt debt securities 3		1,604,851			13,936		3.47	%			1,720,370			15,157		3.52	%
Taxable debt securities 4, 5		6,946,562			33,598		1.93	%			8,176,974			43,477		2.13	%
Total earning assets		25,830,807			293,346		4.61	%			26,441,342			283,391		4.31	%
Goodwill and intangibles		1,100,801									1,051,954
Non-earning assets		847,855									611,550
Total assets	$	27,779,463								$	28,104,846
Liabilities
Non-interest bearing deposits	$	5,989,490		$	—		—	%		$	5,966,546		$	—		—	%
NOW and DDA accounts		5,525,976			15,065		1.11	%			5,275,703			15,918		1.21	%
Savings accounts		2,861,675			5,159		0.73	%			2,900,649			5,655		0.78	%
Money market deposit accounts		2,849,470			13,526		1.93	%			2,948,294			14,393		1.96	%
Certificate accounts		3,152,198			29,075		3.74	%			3,000,713			31,175		4.18	%
Total core deposits		20,378,809			62,825		1.25	%			20,091,905			67,141		1.34	%
Wholesale deposits 6		3,600			40		4.53	%			3,965			55		5.50	%
Repurchase agreements		1,842,773			13,733		3.02	%			1,513,397			12,598		3.35	%
FHLB advances		1,744,000			20,719		4.75	%			350,754			4,249		4.79	%
FRB Bank Term Funding		—			—		—	%			2,483,077			27,097		4.39	%
Subordinated debentures and other borrowed funds		216,073			2,629		4.94	%			218,271			1,782		3.28	%
Total funding liabilities		24,185,255			99,946		1.68	%			24,661,369			112,922		1.84	%
Other liabilities		326,764									356,554
Total liabilities		24,512,019									25,017,923
Stockholders’ Equity
Stockholders’ equity		3,267,444									3,086,923
Total liabilities and stockholders’ equity	$	27,779,463								$	28,104,846
Net interest income (tax-equivalent)				$	193,400								$	170,469
Net interest spread (tax-equivalent)							2.93	%								2.47	%
Net interest margin (tax-equivalent)							3.04	%								2.59	%

______________________________

1	Includes tax effect of $1.5 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended March 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 $1.7 million and $2.2 million on tax-exempt debt securities income for the three months ended March 31, 2025 and 2024, respectively.
4	Includes interest income of $6.1 million and $15.3 million on average interest-bearing cash balances of $559.5 million and $1.12 billion for the three months ended March 31, 2025 and 2024, respectively.
5	Includes tax effect of $150 thousand and $215 thousand on federal income tax credits for the three months ended March 31, 2025 and 2024, respectively.
6	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc.
Loan Portfolio by Regulatory Classification

	Loans Receivable, by Loan Type												% Change from
(Dollars in thousands)	Mar 31, 2025				Dec 31, 2024				Mar 31, 2024				Dec 31, 2024			Mar 31, 2024
Custom and owner occupied construction	$	233,584			$	242,844			$	273,835			(4)%			(15)%
Pre-sold and spec construction		200,921				191,926				223,294			5	%		(10)%
Total residential construction		434,505				434,770				497,129			—	%		(13)%
Land development		177,448				197,369				215,828			(10)%			(18)%
Consumer land or lots		197,553				187,024				188,635			6	%		5	%
Unimproved land		115,528				113,532				103,032			2	%		12	%
Developed lots for operative builders		64,782				61,661				47,591			5	%		36	%
Commercial lots		95,574				99,243				92,748			(4)%			3	%
Other construction		714,151				693,461				915,782			3	%		(22)%
Total land, lot, and other construction		1,365,036				1,352,290				1,563,616			1	%		(13)%
Owner occupied		3,182,589				3,197,138				3,057,348			—	%		4	%
Non-owner occupied		4,054,107				4,053,996				3,920,696			—	%		3	%
Total commercial real estate		7,236,696				7,251,134				6,978,044			—	%		4	%
Commercial and industrial		1,392,365				1,395,997				1,371,201			—	%		2	%
Agriculture		1,016,081				1,024,520				929,420			(1)%			9	%
First lien		2,499,494				2,481,918				2,276,638			1	%		10	%
Junior lien		85,343				76,303				51,579			12	%		65	%
Total 1-4 family		2,584,837				2,558,221				2,328,217			1	%		11	%
Multifamily residential		874,071				895,242				881,117			(2)%			(1)%
Home equity lines of credit		989,043				1,005,783				947,652			(2)%			4	%
Other consumer		188,388				209,457				223,566			(10)%			(16)%
Total consumer		1,177,431				1,215,240				1,171,218			(3)%			1	%
States and political subdivisions		1,001,058				983,601				848,454			2	%		18	%
Other		176,961				183,894				191,121			(4)%			(7)%
Total loans receivable, including loans held for sale		17,259,041				17,294,909				16,759,537			—	%		3	%
Less loans held for sale 1		(40,523	)			(33,060	)			(27,035	)		23	%		50	%
Total loans receivable	$	17,218,518			$	17,261,849			$	16,732,502			—	%		3	%

______________________________

1	Loans held for sale are primarily first lien 1-4 family loans.

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)	Mar 31, 2025			Dec 31, 2024		Mar 31, 2024		Mar 31, 2025		Mar 31, 2025		Mar 31, 2025
Custom and owner occupied construction	$	194		198		210		194		—		—
Pre-sold and spec construction		2,896		2,132		1,049		2,133		763		—
Total residential construction		3,090		2,330		1,259		2,327		763		—
Land development		935		966		28		935		—		—
Consumer land or lots		173		78		144		173		—		—
Developed lots for operative builders		531		531		608		—		531		—
Commercial lots		47		47		2,205		—		47		—
Total land, lot and other construction		1,686		1,622		2,985		1,108		578		—
Owner occupied		3,601		2,979		1,501		3,073		96		432
Non-owner occupied		2,235		2,235		8,853		1,582		—		653
Total commercial real estate		5,836		5,214		10,354		4,655		96		1,085
Commercial and Industrial		12,367		2,069		1,698		11,640		727		—
Agriculture		2,382		2,335		2,855		2,090		292		—
First lien		8,752		9,053		2,930		6,796		1,956		—
Junior lien		296		315		69		296		—		—
Total 1-4 family		9,048		9,368		2,999		7,092		1,956		—
Multifamily residential		400		389		395		400		—		—
Home equity lines of credit		3,479		3,465		1,892		2,726		753		—
Other consumer		1,003		955		927		858		77		68
Total consumer		4,482		4,420		2,819		3,584		830		68
Other		47		39		61		—		47		—
Total	$	39,338		27,786		25,425		32,896		5,289		1,153

Glacier Bancorp, Inc.
Credit Quality Summary by Regulatory Classification (continued)

	Accruing 30-89 Days Delinquent Loans,  by Loan Type									% Change from
(Dollars in thousands)	Mar 31, 2025			Dec 31, 2024			Mar 31, 2024			Dec 31, 2024			Mar 31, 2024
Custom and owner occupied construction	$	786		$	969		$	4,784		(19)%			(84)%
Pre-sold and spec construction		—			564			1,181		(100)%			(100)%
Total residential construction		786			1,533			5,965		(49)%			(87)%
Land development		—			1,450			59		(100)%			(100)%
Consumer land or lots		1,026			402			332		155	%		209	%
Unimproved land		32			36			575		(11)%			(94)%
Developed lots for operative builders		—			214			—		(100)%			n/m
Commercial lots		189			—			1,225		n/m			(85)%
Other construction		—			—			1,248		n/m			(100)%
Total land, lot and other construction		1,247			2,102			3,439		(41)%			(64)%
Owner occupied		3,786			2,867			2,991		32	%		27	%
Non-owner occupied		346			5,037			18,118		(93)%			(98)%
Total commercial real estate		4,132			7,904			21,109		(48)%			(80)%
Commercial and industrial		5,358			6,194			14,806		(13)%			(64)%
Agriculture		5,731			744			3,922		670	%		46	%
First lien		14,826			6,326			5,626		134	%		164	%
Junior lien		1,023			214			145		378	%		606	%
Total 1-4 family		15,849			6,540			5,771		142	%		175	%
Home equity lines of credit		6,993			3,731			3,668		87	%		91	%
Other consumer		1,824			1,775			1,948		3	%		(6)%
Total consumer		8,817			5,506			5,616		60	%		57	%
States and political subdivisions		3,220			—			—		n/m			n/m
Other		1,318			1,705			1,795		(23)%			(27)%
Total	$	46,458		$	32,228		$	62,423		44	%		(26)%

______________________________

_{n/m - not measurable}

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)	Mar 31, 2025				Dec 31, 2024			Mar 31, 2024			Mar 31, 2025		Mar 31, 2025
Pre-sold and spec construction	$	—			(4	)		(4	)		—		—
Pre-sold and spec construction	$	—			(4	)		(4	)		—		—
Land development		(341	)		1,095			(1	)		—		341
Consumer land or lots		(3	)		(22	)		(1	)		—		3
Unimproved land		—			1,338			—			—		—
Commercial lots		—			319			—			—		—
Total land, lot and other construction		(344	)		2,730			(2	)		—		344
Owner occupied		(1	)		(73	)		(3	)		—		1
Non-owner occupied		(6	)		2			(1	)		—		6
Total commercial real estate		(7	)		(71	)		(4	)		—		7
Commercial and industrial		92			1,422			328			421		329
Agriculture		(1	)		64			68			—		1
First lien		(69	)		32			(4	)		—		69
Junior lien		(5	)		(65	)		(5	)		—		5
Total 1-4 family		(74	)		(33	)		(9	)		—		74
Home equity lines of credit		(20	)		69			5			—		20
Other consumer		276			1,078			251			331		55
Total consumer		256			1,147			256			331		75
Other		1,873			8,643			2,439			3,145		1,272
Total	$	1,795			13,898			3,072			3,897		2,102

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FAQ

What was Glacier Bancorp's (GBCI) earnings per share in Q1 2025?

GBCI reported diluted earnings per share of $0.48 in Q1 2025, down 11% from $0.54 in Q4 2024 but up 66% from $0.29 in Q1 2024.

How much is GBCI's quarterly dividend payment in 2025?

GBCI declared a quarterly dividend of $0.33 per share, maintaining its track record of 160 consecutive quarterly dividends.

What is the size of Bank of Idaho acquisition by GBCI?

Bank of Idaho has total assets of $1.3 billion, with $1.1 billion in loans and $1.1 billion in deposits as of March 31, 2025.

What was GBCI's net interest margin in Q1 2025?

The net interest margin was 3.04%, an increase of 7 basis points from Q4 2024 and 45 basis points from Q1 2024.