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Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended June 30, 2025

1. GBCI net income decreased 3% quarter-over-quarter to $52.8 million. 2. Loan portfolio rose 8% in the current quarter to $18.533 billion. 3. Total deposits increased 5% to $21.629 billion, showing strong growth. 4. Net interest income grew 9% sequentially, showcasing earning strength. 5. Acquisition of Guaranty Bancshares announced, expanding GBCI's presence in Texas.

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Why Bullish?

Despite a quarterly net income decrease, overall growth in loans and deposits reflects strong operational health and forward momentum. Historical patterns show that acquisitions often lead to increased market confidence when successfully integrated.

How important is it?

The article discusses key financial metrics that influence investor perception and market price, highlighting both short-term setbacks and strategic long-term growth potential.

Why Long Term?

The acquisition strategy aims to establish long-term growth and market presence, which when realized, typically enhances stock performance over time. Companies that execute successful acquisitions often see sustained financial benefits.

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BOIDGNTY
2nd Quarter 2025 Highlights: Including the $19.9 million expenses related to the current quarter acquisition, diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39 per share.Net income was $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent, from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the prior year second quarter net income of $44.7 million.Net interest income was $208 million for the current quarter, an increase of $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and an increase of $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million.The loan portfolio of $18.533 billion increased $1.314 billion, or 8 percent, during the current quarter and organically increased $239 million, or 6 percent annualized, during the current quarter.Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter.Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter.Total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter.The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 percent and an increase of 53 basis points from the prior year second quarter net interest margin of 2.68 percent.The loan yield of 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent.The total earning asset yield of 4.73 percent in the current quarter increased 12 basis points from the prior quarter earning asset yield of 4.61 percent and increased 36 basis points from the prior year second quarter earning asset yield of 4.37 percent.The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis point from the prior quarter total cost of funding of 1.68 percent and decreased 17 basis points form the prior year second quarter total cost of funding of 1.80 percent.The Company declared a quarterly dividend of $0.33 per share. The Company has declared 161 consecutive quarterly dividends and has increased the dividend 49 times.The Company completed the acquisition of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”) which had total assets of $1.4 billion as of April 30, 2025. This was the Company’s 26th bank acquisition since 2000 and its 12th transaction in the past 10 years.The Company announced the signing of a definitive agreement to acquire Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”) which had total assets of $3.1 billion as of June 30, 2025. This acquisition will expand the Company’s southwest presence and be the first entrance into the state of Texas. First Half 2025 Highlights Diluted earnings per share for the first half of 2025 was $0.93 per share, an increase of 37 percent from the prior year first half diluted earnings per share of $0.68 per share.Net income for the first half of 2025 was $107 million, an increase of $30.0 million, or 39 percent, from the prior year first half net income of $77.3 million.Net interest income was $398 million for the first half of the current year, an increase of $64.6 million, or 19 percent, from the prior year net interest income of $333 million.The loan portfolio increased $1.271 billion, or 7 percent, during the first half of 2025 and organically increased $196 million, or 2 percent, during the first half of 2025.Total deposits increased $1.527 billion, or 8 percent, from the prior year second quarter.Total deposits and repurchase agreements organically increased $202 million, or 1 percent, from the prior year second quarter.The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first half of 2025 was 3.12 percent, an increase of 48 basis points from the prior year first half net interest margin of 2.64 percent.Dividends declared in the first half of 2025 were $0.66 per share. Financial Summary  At or for the Three Months ended At or for the Six Months ended(Dollars in thousands, except per share and market data)Jun 30,2025 Mar 31,2025 Jun 30,2024 Jun 30,2025 Jun 30,2024Operating results         Net income$52,781  54,568  44,708  107,349  77,335 Basic earnings per share$0.45  0.48  0.39  0.93  0.68 Diluted earnings per share$0.45  0.48  0.39  0.93  0.68 Dividends declared per share$0.33  0.33  0.33  0.66  0.66 Market value per share         Closing$43.08  44.22  37.32  43.08  37.32 High$44.70  52.81  40.18  52.81  42.75 Low$36.76  43.18  34.35  36.76  34.35 Selected ratios and other data         Number of common stock shares outstanding 118,550,475  113,517,944  113,394,092  118,550,475  113,394,092 Average outstanding shares - basic 116,890,776  113,451,199  113,390,539  115,180,489  112,941,341 Average outstanding shares - diluted 116,918,290  113,546,365  113,405,491  115,244,550  112,981,531 Return on average assets (annualized) 0.74% 0.80% 0.66% 0.77% 0.56%Return on average equity (annualized) 6.13% 6.77% 5.77% 6.44% 5.01%Efficiency ratio 62.08% 65.49% 67.97% 63.72% 71.17%Loan to deposit ratio 85.91% 83.64% 84.03% 85.91% 84.03%Number of full time equivalent employees 3,665  3,457  3,399  3,665  3,399 Number of locations 247  227  231  247  231 Number of ATMs 300  286  286  300  286                  KALISPELL, Mont., July 24, 2025 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the $44.7 million of net income for the prior year second quarter. Diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39. The current quarter included $3.2 million in acquisition-related expenses and $16.7 million of credit loss expense from the acquisition of BOID. “We continue to be very pleased with the long-term positive momentum that we see in the results this quarter. Net interest income continues to grow, net interest margin growth was very strong and disciplined cost control was evident,” said Randy Chesler, President and Chief Executive Officer. “In addition, we had a busy quarter closing the Bank of Idaho transaction and also announcing the expansion of our southwest region with the planned acquisition of Guaranty Bank & Trust in Texas.” 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, 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 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:  BOID(Dollars in thousands)April 30,2025Total assets$1,369,764Cash and cash equivalents 26,127Debt securities 139,974Loans receivable 1,075,232Non-interest bearing deposits 271,385Interest bearing deposits 806,992Borrowings and subordinated debt 71,932Core deposit intangible 19,758Goodwill 75,207    On June 24, 2025, the Company announced the signing of a definitive agreement to acquire Guaranty, a leading community bank headquartered in Mount Pleasant, Texas. As of June 30, 2025, Guaranty had total assets of $3.1 billion, total gross loans of $2.1 billion and total deposits of $2.7 billion. Upon closing of the transaction, Guaranty will operate as a new banking division under the name “Guaranty Bank & Trust, Division of Glacier Bank,” representing the Company’s 18th separate bank division. The acquisition is subject to regulatory approvals, approval of Guaranty’s shareholders and other customary conditions of closing and is expected to be completed in the fourth quarter of 2025. Asset Summary          $ Change from(Dollars in thousands)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Mar 31,2025 Dec 31,2024 Jun 30,2024Cash and cash equivalents$915,507  981,485  848,408  800,779  (65,978) 67,099  114,728 Debt securities, available-for-sale 4,024,980  4,172,312  4,245,205  4,499,541  (147,332) (220,225) (474,561)Debt securities, held-to-maturity 3,206,133  3,261,575  3,294,847  3,400,403  (55,442) (88,714) (194,270)Total debt securities 7,231,113  7,433,887  7,540,052  7,899,944  (202,774) (308,939) (668,831)Loans receivable             Residential real estate 1,931,554  1,850,079  1,858,929  1,771,528  81,475  72,625  160,026 Commercial real estate 11,935,109  10,952,809  10,963,713  10,713,964  982,300  971,396  1,221,145 Other commercial 3,303,889  3,121,477  3,119,535  3,066,028  182,412  184,354  237,861 Home equity 975,429  920,132  930,994  905,884  55,297  44,435  69,545 Other consumer 386,759  374,021  388,678  394,587  12,738  (1,919) (7,828)Loans receivable 18,532,740  17,218,518  17,261,849  16,851,991  1,314,222  1,270,891  1,680,749 Allowance for credit losses (226,799) (210,400) (206,041) (200,955) (16,399) (20,758) (25,844)Loans receivable, net 18,305,941  17,008,118  17,055,808  16,651,036  1,297,823  1,250,133  1,654,905 Other assets 2,557,546  2,435,389  2,458,719  2,453,581  122,157  98,827  103,965 Total assets$29,010,107  27,858,879  27,902,987  27,805,340  1,151,228  1,107,120  1,204,767   The Company continues to maintain a strong cash position of $916 million at June 30, 2025 which was a decrease of $66 million over the prior quarter and an increase of $115 million over the prior year second quarter. Total debt securities of $7.231 billion at June 30, 2025 decreased $203 million, or 3 percent, during the current quarter and decreased $669 million, or 8 percent, from the prior year second quarter. Debt securities represented 25 percent of total assets at June 30, 2025 compared to 27 percent at March 31, 2025 and 28 percent at June 30, 2024. The loan portfolio of $18.533 billion at June 30, 2025 increased $1.314 billion, or 8 percent, during the current quarter and increased $1.681 billion, or 10 percent, from the prior year second quarter. Excluding the BOID acquisition, the loan portfolio organically increased $239 million, or 6 percent annualized, during the current quarter. Excluding the BOID acquisition, the loan category with the largest dollar increase during the current quarter was commercial real estate which increased $250 million, or 2 percent over the prior quarter. Excluding the BOID acquisition and the Rocky Mountain Bank (“RMB”) acquisition on July 19, 2024, the loan portfolio organically increased $334 million, or 2 percent, since the prior year second quarter. Excluding the acquisitions, the loan category with the largest dollar increase in the last twelve months was commercial real estate which increased $368 million, or 3 percent over the prior quarter. Credit Quality Summary  At or for the Six Months ended At or for the Three Months ended At or for the Year ended At or for the Six Months ended(Dollars in thousands)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024Allowance for credit losses       Balance at beginning of period$206,041  206,041  192,757  192,757 Acquisitions 35  —  3  3 Provision for credit losses 24,163  6,154  27,179  14,157 Charge-offs (7,236) (3,897) (18,626) (8,430)Recoveries 3,796  2,102  4,728  2,468 Balance at end of period$226,799  210,400  206,041  200,955 Provision for credit losses       Loan portfolio$24,163  6,154  27,179  14,157 Unfunded loan commitments 3,918  1,660  1,127  (2,390)Total provision for credit losses$28,081  7,814  28,306  11,767 Other real estate owned$1,737  1,085  1,085  432 Other foreclosed assets 142  68  79  198 Accruing loans 90 days or more past due 11,371  5,289  6,177  4,692 Non-accrual loans 35,356  32,896  20,445  12,686 Total non-performing assets$48,606  39,338  27,786  18,008 Non-performing assets as a percentage of subsidiary assets 0.17% 0.14% 0.10% 0.06%Allowance for credit losses as a percentage of non-performing loans 485% 551% 774% 1,116%Allowance for credit losses as a percentage of total loans 1.22% 1.22% 1.19% 1.19%Net charge-offs as a percentage of total loans 0.02% 0.01% 0.08% 0.04%Accruing loans 30-89 days past due$54,403  46,458  32,228  49,678 U.S. government guarantees included in non-performing assets$2,651  685  748  1,228   Non-performing assets as a percentage of subsidiary assets at June 30, 2025 was 0.17 percent compared to 0.14 percent in the prior quarter and 0.06 percent in the prior year second quarter. Non-performing assets of $48.6 million at June 30, 2025 increased $9.3 million, or 24 percent, over the prior quarter and increased $30.6 million, or 170 percent, over the prior year second quarter. Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at June 30, 2025 were 0.28 percent compared to 0.27 percent for the prior quarter end and 0.29 percent for the prior year second quarter. Early stage delinquencies of $54.4 million at June 30, 2025 increased $7.9 million from the prior quarter and decreased $4.7 million from prior year second quarter. The current quarter provision for credit loss expense of $20.3 million included $14.6 million of credit loss expense on loans and $2.1 million of credit loss expense on unfunded loan commitments from the acquisition of BOID. Excluding the acquisition of BOID, the current quarter credit loss expense was $3.6 million, including $3.4 million of credit loss expense on loans and $159 thousand of credit loss expense on unfunded commitments. The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.22 percent at June 30, 2025 and March 31, 2025 compared to 1.19 percent at June 30, 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 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 ACLas a Percentof Loans AccruingLoans 30-89Days Past Dueas a Percent ofLoans Non-PerformingAssets toTotal SubsidiaryAssetsSecond quarter 2025$18,009 $1,645 1.22% 0.29% 0.17%First quarter 2025 6,154  1,795 1.22% 0.27% 0.14%Fourth quarter 2024 6,041  5,170 1.19% 0.19% 0.10%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%  Net charge-offs for the current quarter were $1.6 million compared to $1.8 million in the prior quarter and $2.9 million for the prior year second quarter. The current quarter net charge-offs included $1.5 million in deposit overdraft net charge-offs and $111 thousand 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)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Mar 31,2025 Dec 31,2024 Jun 30,2024Deposits             Non-interest bearing deposits$6,593,728 6,100,548 6,136,709 6,093,430 493,180  457,019  500,298 NOW and DDA accounts 5,747,388 5,676,177 5,543,512 5,219,838 71,211  203,876  527,550 Savings accounts 2,956,387 2,896,378 2,845,124 2,862,034 60,009  111,263  94,353 Money market deposit accounts 3,089,115 2,816,874 2,878,213 2,858,850 272,241  210,902  230,265 Certificate accounts 3,238,576 3,140,333 3,139,821 3,064,613 98,243  98,755  173,963 Core deposits, total 21,625,194 20,630,310 20,543,379 20,098,765 994,884  1,081,815  1,526,429 Wholesale deposits 3,308 3,740 3,615 2,994 (432) (307) 314 Deposits, total 21,628,502 20,634,050 20,546,994 20,101,759 994,452  1,081,508  1,526,743 Repurchase agreements 1,976,228 1,849,070 1,777,475 1,629,504 127,158  198,753  346,724 Deposits and repurchase agreements, total 23,604,730 22,483,120 22,324,469 21,731,263 1,121,610  1,280,261  1,873,467 Federal Home Loan Bank advances 1,255,088 1,520,000 1,800,000 2,350,000 (264,912) (544,912) (1,094,912)Other borrowed funds 81,771 82,443 83,341 88,149 (672) (1,570) (6,378)Subordinated debentures 157,127 133,145 133,105 133,024 23,982  24,022  24,103 Other liabilities 374,003 352,563 338,218 365,459 21,440  35,785  8,544 Total liabilities$25,472,719 24,571,271 24,679,133 24,667,895 901,448  793,586  804,824   Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter and increased $1.527 billion, or 8 percent, from the prior year second quarter. Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter. Total repurchase agreements of $1.976 billion at June 30, 2025 increased $127 million, or 7 percent, from the prior quarter and increased $347 million, or 21 percent, from the prior year second quarter. Excluding acquisitions, total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter and increased $394 million, or 2 percent, from the prior year second quarter. Non-interest bearing deposits represented 30 percent of total deposits at each of June 30, 2025, December 31, 2024 and June 30, 2024. Subordinated debentures of $157 million, increased $24.0 million, or 18 percent, during the current quarter as a result of the acquisition of BOID. Federal Home Loan Bank (“FHLB”) advances of $1.255 billion decreased $265 million, or 17 percent, from the prior quarter and decreased $1.095 billion, or 47 percent, from the prior year second quarter. Stockholders’ Equity Summary          $ Change from(Dollars in thousands, except per share data)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Mar 31,2025 Dec 31,2024 Jun 30,2024Common equity$3,776,043  3,550,719  3,533,150  3,492,096  225,324  242,893  283,947 Accumulated other comprehensive loss (238,655) (263,111) (309,296) (354,651) 24,456  70,641  115,996 Total stockholders’ equity 3,537,388  3,287,608  3,223,854  3,137,445  249,780  313,534  399,943 Goodwill and intangibles, net (1,191,474) (1,099,229) (1,102,500) (1,066,790) (92,245) (88,974) (124,684)Tangible stockholders’ equity$2,345,914  2,188,379  2,121,354  2,070,655  157,535  224,560  275,259 Stockholders’ equity to total assets 12.19% 11.80% 11.55% 11.28%         Tangible stockholders’ equity to total tangible assets 8.43% 8.18% 7.92% 7.74%         Book value per common share$29.84  28.96  28.43  27.67  0.88  1.41  2.17 Tangible book value per common share$19.79  19.28  18.71  18.26  0.51  1.08  1.53                        Tangible stockholders’ equity of $2.346 billion at June 30, 2025 increased $158 million, or 7 percent, compared to the prior quarter and was primarily due to $205 million of Company stock issued in connection with the acquisition of BOID. The increase was partially offset by the increase in goodwill and core deposits associated with the BOID acquisition. Tangible book value per common share of $19.79 at the current quarter end increased $0.51 per share, or 3 percent, from the prior quarter and increased $1.53 per share, or 8 percent, from the prior year second quarter. Cash DividendsOn June 24, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable July 17, 2025 to shareholders of record on July 8, 2025. The dividend was the Company’s 161st 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 June 30, 2025 Compared to March 31, 2025, and June 30, 2024  Income Summary  Three Months ended $ Change from(Dollars in thousands)Jun 30,2025 Mar 31,2025 Jun 30,2024 Mar 31,2025 Jun 30,2024Net interest income         Interest income$308,115  289,925  273,834  18,190  34,281 Interest expense 100,499  99,946  107,356  553  (6,857)Total net interest income 207,616  189,979  166,478  17,637  41,138 Non-interest income         Service charges and other fees 20,405  18,818  19,422  1,587  983 Miscellaneous loan fees and charges 5,067  4,664  4,821  403  246 Gain on sale of loans 4,273  4,311  4,669  (38) (396)Loss on sale of securities —  —  (12) —  12 Other income 3,199  4,849  3,304  (1,650) (105)Total non-interest income 32,944  32,642  32,204  302  740 Total income$240,560  222,621  198,682  17,939  41,878 Net interest margin (tax-equivalent) 3.21% 3.04% 2.68%      Net Interest IncomeNet interest income of $208 million for the current quarter increased $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and increased $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million. The current quarter interest income of $308 million increased $18.2 million, or 6 percent, over the prior quarter and increased $34.3 million, or 13 percent, over the prior year second 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 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent. The current quarter interest expense of $100 million increased $553 thousand or 55 basis points, over the prior quarter and was primarily attributable to an increase in average deposit balances. The current quarter interest expense decreased $6.9 million, or 6 percent, over the prior year second 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 both the current and prior quarters compared to 1.36 percent in the prior year second quarter. The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis points from the prior quarter and decreased 17 basis points from the prior year second quarter. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 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 53 basis points from the prior year second quarter net interest margin of 2.68 percent and was also primarily driven by the increase in loan yields and the decrease in total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 3 basis points from discount accretion, the core net interest margin was 3.18 percent in the current quarter compared to 2.99 percent in the prior quarter and 2.63 in the prior year second quarter. “Growth in the loan portfolio at higher yields, along with stable deposit costs and the reduction in higher cost FHLB borrowings contributed to the 17 basis points increase in the current quarter net interest margin,” said Ron Copher, Chief Financial Officer. Non-interest IncomeNon-interest income for the current quarter totaled $32.9 million, which was an increase of $302 thousand, or 1 percent, over the prior quarter and an increase of $740 thousand, or 2 percent, over the prior year second quarter. Service charges and other fees of $20.4 million for the current quarter increased $1.6 million, or 8 percent, compared to the prior quarter and increased $983 thousand, or 5 percent, compared to the prior year second quarter. Gain on the sale of residential loans of $4.3 million for the current quarter decreased $38 thousand, or 88 basis points, compared to the prior quarter and decreased $396 thousand, or 8 percent, from the prior year second quarter. Other income of $3.2 million decreased $1.7 million, or 34 percent, over the prior quarter primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the prior quarter. Non-interest Expense Summary  Three Months ended $ Change from(Dollars in thousands)Jun 30,2025 Mar 31,2025 Jun 30,2024 Mar 31,2025 Jun 30,2024Compensation and employee benefits$94,355 91,443 84,434 2,912  9,921 Occupancy and equipment 12,558 12,294 11,594 264  964 Advertising and promotions 4,394 4,144 4,362 250  32 Data processing 9,883 9,138 9,387 745  496 Other real estate owned and foreclosed assets 26 63 149 (37) (123)Regulatory assessments and insurance 5,847 5,534 5,393 313  454 Intangibles amortization 3,624 3,270 3,017 354  607 Other expenses 24,432 25,432 22,616 (1,000) 1,816 Total non-interest expense$155,119 151,318 140,952 3,801  14,167   Total non-interest expense of $155 million for the current quarter increased $3.8 million, or 3 percent, over the prior quarter and increased $14.2 million, or 10 percent, over the prior year second quarter. Compensation and employee benefits of $94.4 million increased by $2.9 million, or 3 percent, over the prior quarter and was primarily attributable to increased costs from the acquisition. Compensation and employee benefits increased $9.9 million, or 12 percent, from the prior year second quarter and was primarily driven by annual salary increases and increases in staffing levels from current and prior year acquisitions. Other expenses of $24.4 million decreased $1.0 million, or 4 percent, from the prior quarter and increased $1.8 million, or 8 percent, from the prior year second quarter. Acquisition-related expense was $3.2 million in the current quarter compared to $587 thousand in the prior quarter and $1.8 million in the prior year second quarter. The current quarter other expenses included $1.6 million of gain from the sale of a former branch facility compared to a $1.2 million gain in the prior quarter and a $2.0 million gain in the prior year second quarter. Federal and State Income Tax ExpenseTax expense during the second quarter of 2025 was $12.4 million, an increase of $3.5 million, or 39 percent, compared to the prior quarter and an increase of $2.9 million, or 30 percent, from the prior year second quarter. The effective tax rate in the current quarter was 19.0 percent compared to 14.0 percent in the prior quarter and 17.5 percent in the prior year second quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior quarter was the result of a combination of lower federal income tax credits and an increase in income before income tax expense in the current quarter. Efficiency RatioThe efficiency ratio was 62.08 percent in the current quarter compared to 65.49 percent in the prior quarter and 67.97 percent in the prior year second quarter. The decrease from the prior quarter and the prior year second quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense. Operating Results for Six Months Ended June 30, 2025Compared to June 30, 2024  Income Summary  Six Months ended  (Dollars in thousands)Jun 30,2025 Jun 30,2024 $ Change % ChangeNet interest income       Interest income$598,040  $553,236  $44,804  8%Interest expense 200,445   220,278   (19,833) (9)%Total net interest income 397,595   332,958   64,637  19%Non-interest income       Service charges and other fees 39,223   37,985   1,238  3%Miscellaneous loan fees and charges 9,731   9,183   548  6%Gain on sale of loans 8,584   8,031   553  7%Gain on sale of securities —   4   (4) (100)%Other income 8,048   6,990   1,058  15%Total non-interest income 65,586   62,193   3,393  5%Total Income$463,181  $395,151  $68,030  17%Net interest margin (tax-equivalent) 3.12%  2.64%      Net Interest IncomeNet-interest income of $398 million for the first half of 2025 increased $64.6 million, or 19 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $598 million for the first half of 2025 increased $44.8 million, or 8 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 5.82 percent during the first half of 2025, an increase of 30 basis points from the prior year first half loan yield of 5.52 percent. Interest expense of $200 million for the first half of 2025 decreased $19.8 million, or 9 percent, over the same period in the prior year and was primarily the result of lower interest rates on deposits and a decrease in higher cost borrowings. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for the first half of 2025, which was a decrease of 10 basis points over the first half of the prior year core deposit costs of 1.35 percent. The total funding cost (including non-interest bearing deposits) for the first half of 2025 was 1.65 percent, which was a decrease of 17 basis points over the first half of the prior year funding cost of 1.82 percent. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first half of 2025 was 3.12 percent, a 48 basis points increase from the net interest margin of 2.64 percent for the first half of the prior year. Excluding the 4 basis points from discount accretion, the core net interest margin was 3.08 percent in the first half of the current year compared to 2.60 percent in the prior year first half. 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 IncomeNon-interest income of $65.6 million for the first half of 2025 increased $3.4 million, or 5 percent, over the same period last year. Service charges and other fees of $39.2 million for the first half of 2025 increased $1.2 million, or 3 percent, over the first half of the prior year. Gain on sale of residential loans of $8.6 million for the first half of 2025 increased by $553 thousand, or 7 percent, over the first half of the prior year. Other income of $8.0 million for the first half of 2025 increased $1.1 million over the prior year first half and was primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the current year. Non-interest Expense Summary  Six Months ended    (Dollars in thousands)Jun 30,2025 Jun 30,2024 $ Change % ChangeCompensation and employee benefits$185,798 $170,223 $15,575  9%Occupancy and equipment 24,852  23,477  1,375  6%Advertising and promotions 8,538  8,345  193  2%Data processing 19,021  18,546  475  3%Other real estate owned and foreclosed assets 89  174  (85) (49)%Regulatory assessments and insurance 11,381  13,154  (1,773) (13)%Core deposit intangibles amortization 6,894  5,777  1,117  19%Other expenses 49,864  53,099  (3,235) (6)%Total non-interest expense$306,437 $292,795 $13,642  5%  Total non-interest expense of $306 million for the first half of 2025 increased $13.6 million, or 5 percent, over the same period in the prior year. Compensation and employee benefits expense of $186 million in the first half of 2025 increased $15.6 million, or 9 percent, over the same period in the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $11.4 million for the first half of 2025 decreased $1.8 million, or 13 percent, from the prior year first half primarily as a result of adjustments to the FDIC special assessment. Other expenses of $49.9 million for the first half of 2025 decreased $3.2 million, or 6 percent, from the first half of the prior year and was primarily driven by a decrease of $3.7 million of acquisition-related expenses. Provision for Credit LossesThe provision for credit loss expense was $28.1 million for the first half of 2025, an increase of $16.3 million, or 139 percent, over the same period in the prior year. Included in the current year provision for credit losses was $16.7 million from the acquisition of BOID and included in the prior year was $5.3 million from the acquisition of Wheatland Bank. Net charge-offs for the first half of 2025 were $3.4 million compared to $6.0 million in the first half of 2024. Federal and State Income Tax ExpenseTax expense of $21.3 million for the first half of 2025 increased $8.1 million, or 61 percent, over the same period in the prior year. The effective tax rate for the first half of 2025 was 16.6 percent compared to 14.6 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 an increase in the pre-tax income. Efficiency RatioThe efficiency ratio was 63.72 percent for the first half of 2025 compared to 71.17 percent for the same period of 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 StatementsThis 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, 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 and the Middle East;risks associated with the Company’s ability to negotiate, complete, and successfully integrate pending or future acquisitions;costs or difficulties related to the completion and integration of pending 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;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; andeffects 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 InformationA conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, July 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/BI39099c48cd94493cadee5c8f4fe748e5. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/zusost57. 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) 751-4722Ron J. Copher, CFO(406) 751-7706 Glacier Bancorp, Inc.Unaudited Condensed Consolidated Statements of Financial Condition (Dollars in thousands, except per share data)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024Assets       Cash on hand and in banks$375,398  322,253  268,746  271,107 Interest bearing cash deposits 540,109  659,232  579,662  529,672 Cash and cash equivalents 915,507  981,485  848,408  800,779 Debt securities, available-for-sale 4,024,980  4,172,312  4,245,205  4,499,541 Debt securities, held-to-maturity 3,206,133  3,261,575  3,294,847  3,400,403 Total debt securities 7,231,113  7,433,887  7,540,052  7,899,944 Loans held for sale, at fair value 47,738  40,523  33,060  39,745 Loans receivable 18,532,740  17,218,518  17,261,849  16,851,991 Allowance for credit losses (226,799) (210,400) (206,041) (200,955)Loans receivable, net 18,305,941  17,008,118  17,055,808  16,651,036 Premises and equipment, net 426,801  411,095  411,968  391,266 Right-of-use assets, net 56,525  54,441  56,252  60,249 Other real estate owned and foreclosed assets 1,879  1,153  1,164  630 Accrued interest receivable 108,286  103,992  99,262  102,279 Deferred tax asset 114,528  122,942  138,955  155,834 Intangibles, net 64,949  47,911  51,182  43,028 Goodwill 1,126,525  1,051,318  1,051,318  1,023,762 Non-marketable equity securities 76,990  88,134  99,669  121,810 Bank-owned life insurance 191,623  191,044  189,849  187,793 Other assets 341,702  322,836  326,040  327,185 Total assets$29,010,107  27,858,879  27,902,987  27,805,340 Liabilities       Non-interest bearing deposits$6,593,728  6,100,548  6,136,709  6,093,430 Interest bearing deposits 15,034,774  14,533,502  14,410,285  14,008,329 Securities sold under agreements to repurchase 1,976,228  1,849,070  1,777,475  1,629,504 FHLB advances 1,255,088  1,520,000  1,800,000  2,350,000 Other borrowed funds 62,366  62,216  62,062  64,702 Finance lease liabilities 19,405  20,227  21,279  23,447 Subordinated debentures 157,127  133,145  133,105  133,024 Accrued interest payable 27,973  30,231  33,626  31,000 Operating lease liabilities 42,274  39,244  39,902  41,421 Other liabilities 303,756  283,088  264,690  293,038 Total liabilities 25,472,719  24,571,271  24,679,133  24,667,895 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 1,186  1,135  1,134  1,134 Paid-in capital 2,661,018  2,449,311  2,448,758  2,445,479 Retained earnings - substantially restricted 1,113,839  1,100,273  1,083,258  1,045,483 Accumulated other comprehensive loss (238,655) (263,111) (309,296) (354,651)Total stockholders’ equity 3,537,388  3,287,608  3,223,854  3,137,445 Total liabilities and stockholders’ equity$29,010,107  27,858,879  27,902,987  27,805,340  Glacier Bancorp, Inc.Unaudited Condensed Consolidated Statements of Operations  Three Months ended Six Months ended(Dollars in thousands)Jun 30,2025 Mar 31,2025 Jun 30,2024 Jun 30,2025 Jun 30,2024Interest Income         Investment securities$44,148 45,646 42,165  89,794 98,383Residential real estate loans 25,361 24,275 21,754  49,636 42,518Commercial loans 214,816 197,388 188,326  412,204 369,798Consumer and other loans 23,790 22,616 21,589  46,406 42,537Total interest income 308,115 289,925 273,834  598,040 553,236Interest Expense         Deposits 65,569 62,865 67,852  128,434 135,048Securities sold under agreements to repurchase 14,109 13,733 13,566  27,842 26,164Federal Home Loan Bank advances 17,806 20,719 24,179  38,525 28,428FRB Bank Term Funding — — —  — 27,097Other borrowed funds 400 402 353  802 697Subordinated debentures 2,615 2,227 1,406  4,842 2,844Total interest expense 100,499 99,946 107,356  200,445 220,278Net Interest Income 207,616 189,979 166,478  397,595 332,958Provision for credit losses 20,267 7,814 3,518  28,081 11,767Net interest income after provision for credit losses 187,349 182,165 162,960  369,514 321,191Non-Interest Income         Service charges and other fees 20,405 18,818 19,422  39,223 37,985Miscellaneous loan fees and charges 5,067 4,664 4,821  9,731 9,183Gain on sale of loans 4,273 4,311 4,669  8,584 8,031(Loss) gain on sale of securities — — (12) — 4Other income 3,199 4,849 3,304  8,048 6,990Total non-interest income 32,944 32,642 32,204  65,586 62,193Non-Interest Expense         Compensation and employee benefits 94,355 91,443 84,434  185,798 170,223Occupancy and equipment 12,558 12,294 11,594  24,852 23,477Advertising and promotions 4,394 4,144 4,362  8,538 8,345Data processing 9,883 9,138 9,387  19,021 18,546Other real estate owned and foreclosed assets 26 63 149  89 174Regulatory assessments and insurance 5,847 5,534 5,393  11,381 13,154Intangibles amortization 3,624 3,270 3,017  6,894 5,777Other expenses 24,432 25,432 22,616  49,864 53,099Total non-interest expense 155,119 151,318 140,952  306,437 292,795Income Before Income Taxes 65,174 63,489 54,212  128,663 90,589Federal and state income tax expense 12,393 8,921 9,504  21,314 13,254Net Income$52,781 54,568 44,708  107,349 77,335 Glacier Bancorp, Inc.Average Balance Sheets  Three Months ended June 30, 2025 March 31, 2025(Dollars in thousands)AverageBalance Interest &Dividends AverageYield/Rate AverageBalance Interest &Dividends AverageYield/RateAssets           Residential real estate loans$1,940,514 $25,361 5.23% $1,885,497 $24,275 5.15%Commercial loans 1 14,884,885  216,385 5.83%  14,091,210  198,921 5.73%Consumer and other loans 1,336,030  23,790 7.14%  1,302,687  22,616 7.04%Total loans 2 18,161,429  265,536 5.86%  17,279,394  245,812 5.77%Tax-exempt debt securities 3 1,594,895  13,999 3.51%  1,604,851  13,936 3.47%Taxable debt securities 4, 5 6,645,312  32,045 1.93%  6,946,562  33,598 1.93%Total earning assets 26,401,636  311,580 4.73%  25,830,807  293,346 4.61%Goodwill and intangibles 1,153,466      1,100,801    Non-earning assets 918,007      847,855    Total assets$28,473,109     $27,779,463    Liabilities           Non-interest bearing deposits$6,256,245 $— —% $5,989,490 $— —%NOW and DDA accounts 5,674,990  16,045 1.13%  5,525,976  15,065 1.11%Savings accounts 2,904,389  5,402 0.75%  2,861,675  5,159 0.73%Money market deposit accounts 3,000,487  15,389 2.06%  2,849,470  13,526 1.93%Certificate accounts 3,211,418  28,667 3.58%  3,152,198  29,075 3.74%Total core deposits 21,047,529  65,503 1.25%  20,378,809  62,825 1.25%Wholesale deposits 6 5,618  66 4.67%  3,600  40 4.53%Repurchase agreements 1,898,841  14,109 2.98%  1,842,773  13,733 3.02%FHLB advances 1,494,781  17,806 4.71%  1,744,000  20,719 4.75%Subordinated debentures and other borrowed funds 231,902  3,015 5.21%  216,073  2,629 4.94%Total funding liabilities 24,678,671  100,499 1.63%  24,185,255  99,946 1.68%Other liabilities 338,289      326,764    Total liabilities 25,016,960      24,512,019    Stockholders’ Equity           Stockholders’ equity 3,456,149      3,267,444    Total liabilities and stockholders’ equity$28,473,109     $27,779,463    Net interest income (tax-equivalent)  $211,081     $193,400  Net interest spread (tax-equivalent)    3.10%     2.93%Net interest margin (tax-equivalent)    3.21%     3.04% ______________________________ 1Includes tax effect of $1.6 million and $1.5 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and March 31, 2025, respectively.2Total 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.3Includes tax effect of $1.7 million and $1.7 million on tax-exempt debt securities income for the three months ended June 30, 2025 and March 31, 2025, respectively.4Includes interest income of $4.8 million and $6.1 million on average interest-bearing cash balances of $433.7 million and $559.5 million for the three months ended June 30, 2025 and March 31, 2025, respectively.5Includes tax effect of $151 thousand and $150 thousand on federal income tax credits for the three months ended June 30, 2025 and March 31, 2025, respectively.6Wholesale 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 June 30, 2025 June 30, 2024(Dollars in thousands)AverageBalance Interest &Dividends AverageYield/Rate AverageBalance Interest &Dividends AverageYield/RateAssets           Residential real estate loans$1,940,514 $25,361 5.23% $1,796,787 $21,754 4.84%Commercial loans 1 14,884,885  216,385 5.83%  13,740,455  189,939 5.56%Consumer and other loans 1,336,030  23,790 7.14%  1,290,587  21,589 6.73%Total loans 2 18,161,429  265,536 5.86%  16,827,829  233,282 5.58%Tax-exempt debt securities 3 1,594,895  13,999 3.51%  1,707,269  15,111 3.54%Taxable debt securities 4, 5 6,645,312  32,045 1.93%  7,042,885  29,461 1.67%Total earning assets 26,401,636  311,580 4.73%  25,577,983  277,854 4.37%Goodwill and intangibles 1,153,466      1,068,250    Non-earning assets 918,007      754,491    Total assets$28,473,109     $27,400,724    Liabilities           Non-interest bearing deposits$6,256,245 $— —% $6,026,709 $— —%NOW and DDA accounts 5,674,990  16,045 1.13%  5,221,883  15,728 1.21%Savings accounts 2,904,389  5,402 0.75%  2,914,538  6,014 0.83%Money market deposit accounts 3,000,487  15,389 2.06%  2,904,438  14,467 2.00%Certificate accounts 3,211,418  28,667 3.58%  3,037,638  31,593 4.18%Total core deposits 21,047,529  65,503 1.25%  20,105,206  67,802 1.36%Wholesale deposits 6 5,618  66 4.67%  3,726  50 5.50%Repurchase agreements 1,898,841  14,109 2.98%  1,597,887  13,566 3.41%FHLB advances 1,494,781  17,806 4.71%  2,007,747  24,179 4.76%Subordinated debentures and other borrowed funds 231,902  3,015 5.21%  224,778  1,759 3.15%Total funding liabilities 24,678,671  100,499 1.63%  23,939,344  107,356 1.80%Other liabilities 338,289      344,105    Total liabilities 25,016,960      24,283,449    Stockholders’ Equity           Stockholders’ equity 3,456,149      3,117,275    Total liabilities and stockholders’ equity$28,473,109     $27,400,724    Net interest income (tax-equivalent)  $211,081     $170,498  Net interest spread (tax-equivalent)    3.10%     2.57%Net interest margin (tax-equivalent)    3.21%     2.68% ______________________________ 1Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and 2024, respectively.2Total 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.3Includes tax effect of $1.7 million and $2.2 million on tax-exempt debt securities income for the three months ended June 30, 2025 and 2024, respectively.4Includes interest income of $4.8 million and $1.9 million on average interest-bearing cash balances of $433.7 million and $143.0 million for the three months ended June 30, 2025 and 2024, respectively.5Includes tax effect of $151 thousand and $211 thousand on federal income tax credits for the three months ended June 30, 2025 and 2024, respectively.6Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities. Glacier Bancorp, Inc.Average Balance Sheets (continued)  Six Months ended June 30, 2025 June 30, 2024(Dollars in thousands)AverageBalance Interest &Dividends AverageYield/Rate AverageBalance Interest &Dividends AverageYield/RateAssets           Residential real estate loans$1,913,157 $49,636 5.19% $1,771,985 $42,518 4.80%Commercial loans 1 14,490,240  415,306 5.78%  13,626,941  372,984 5.50%Consumer and other loans 1,319,451  46,406 7.09%  1,286,988  42,537 6.65%Total loans 2 17,722,848  511,348 5.82%  16,685,914  458,039 5.52%Tax-exempt debt securities 3 1,599,845  27,935 3.49%  1,713,819  30,268 3.53%Taxable debt securities 4, 5 6,795,105  65,643 1.93%  7,609,930  72,938 1.92%Total earning assets 26,117,798  604,926 4.67%  26,009,663  561,245 4.34%Goodwill and intangibles 1,127,279      1,060,102    Non-earning assets 883,125      683,020    Total assets$28,128,202     $27,752,785    Liabilities           Non-interest bearing deposits$6,123,604 $— —% $5,996,627 $— —%NOW and DDA accounts 5,600,895  31,110 1.12%  5,248,793  31,646 1.21%Savings accounts 2,883,150  10,561 0.74%  2,907,594  11,669 0.81%Money market deposit accounts 2,925,396  28,915 1.99%  2,926,366  28,860 1.98%Certificate accounts 3,181,971  57,742 3.66%  3,019,176  62,768 4.18%Total core deposits 20,715,016  128,328 1.25%  20,098,556  134,943 1.35%Wholesale deposits 6 4,615  106 4.62%  3,846  105 5.50%Repurchase agreements 1,870,962  27,842 3.00%  1,555,642  26,164 3.38%FHLB advances 1,618,702  38,525 4.73%  1,179,251  28,428 4.77%FRB Bank Term Funding —  — —%  1,241,538  27,097 4.39%Subordinated debentures and other borrowed funds 224,031  5,644 5.08%  221,525  3,541 3.21%Total funding liabilities 24,433,326  200,445 1.65%  24,300,358  220,278 1.82%Other liabilities 332,558      350,329    Total liabilities 24,765,884      24,650,687    Stockholders’ Equity           Stockholders’ equity 3,362,318      3,102,098    Total liabilities and stockholders’ equity$28,128,202     $27,752,785    Net interest income (tax-equivalent)  $404,481     $340,967  Net interest spread (tax-equivalent)    3.02%     2.52%Net interest margin (tax-equivalent)    3.12%     2.64% ______________________________ 1Includes tax effect of $3.1 million and $3.2 million on tax-exempt municipal loan and lease income for the Six Months ended June 30, 2025 and 2024, respectively.2Total 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.3Includes tax effect of $3.5 million and $4.4 million on tax-exempt debt securities income for the Six Months ended June 30, 2025 and 2024, respectively.4Includes interest income of $11.0 million and $17.2 million on average interest-bearing cash balances of $496.2 million and $631.7 million for the Six Months ended June 30, 2025 and 2024, respectively.5Includes tax effect of $301 thousand and $426 thousand on federal income tax credits for the Six Months ended June 30, 2025 and 2024, respectively.6Wholesale 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)Jun 30,2025 Mar 31,2025 Dec 31,2024 Mar 31,2025 Dec 31,2024Custom and owner occupied construction$254,790  $233,584  $242,844  9% 5%Pre-sold and spec construction 208,106   200,921   191,926  4% 8%Total residential construction 462,896   434,505   434,770  7% 6%Land development 176,925   177,448   197,369  —% (10)%Consumer land or lots 229,823   197,553   187,024  16% 23%Unimproved land 127,550   115,528   113,532  10% 12%Developed lots for operative builders 73,053   64,782   61,661  13% 18%Commercial lots 175,929   95,574   99,243  84% 77%Other construction 753,056   714,151   693,461  5% 9%Total land, lot, and other construction 1,536,336   1,365,036   1,352,290  13% 14%Owner occupied 3,529,536   3,182,589   3,197,138  11% 10%Non-owner occupied 4,283,986   4,054,107   4,053,996  6% 6%Total commercial real estate 7,813,522   7,236,696   7,251,134  8% 8%Commercial and industrial 1,545,498   1,392,365   1,395,997  11% 11%Agriculture 1,167,611   1,016,081   1,024,520  15% 14%First lien 2,590,433   2,499,494   2,481,918  4% 4%Junior lien 80,170   85,343   76,303  (6)% 5%Total 1-4 family 2,670,603   2,584,837   2,558,221  3% 4%Multifamily residential 975,785   874,071   895,242  12% 9%Home equity lines of credit 1,048,595   989,043   1,005,783  6% 4%Other consumer 197,744   188,388   209,457  5% (6)%Total consumer 1,246,339   1,177,431   1,215,240  6% 3%States and political subdivisions 973,145   1,001,058   983,601  (3)% (1)%Other 188,743   176,961   183,894  7% 3%Total loans receivable, including loans held for sale 18,580,478   17,259,041   17,294,909  8% 7%Less loans held for sale 1 (47,738)  (40,523)  (33,060) 18% 44%Total loans receivable$18,532,740  $17,218,518  $17,261,849  8% 7% ______________________________ 1Loans 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-AccrualLoans AccruingLoans 90Daysor More PastDue Other real estate owned and foreclosed assets(Dollars in thousands)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Jun 30,2025 Jun 30,2025 Jun 30,2025Custom and owner occupied construction$235 194 198 206 189 46 —Pre-sold and spec construction 2,806 2,896 2,132 2,908 2,043 763 —Total residential construction 3,041 3,090 2,330 3,114 2,232 809 —Land development 885 935 966 — 875 10 —Consumer land or lots 460 173 78 429 164 296 —Developed lots for operative builders 531 531 531 608 — 531 —Commercial lots 47 47 47 47 — 47 —Other construction — — — 25 — — —Total land, lot and other construction 1,923 1,686 1,622 1,109 1,039 884 —Owner occupied 4,412 3,601 2,979 1,992 4,407 5 —Non-owner occupied 1,206 2,235 2,235 257 — — 1,206Total commercial real estate 5,618 5,836 5,214 2,249 4,407 5 1,206Commercial and Industrial 14,764 12,367 2,069 2,044 13,452 1,243 69Agriculture 6,603 2,382 2,335 2,442 2,141 4,462 —First lien 10,549 8,752 9,053 2,923 7,856 2,162 531Junior lien 533 296 315 492 293 240 —Total 1-4 family 11,082 9,048 9,368 3,415 8,149 2,402 531Multifamily residential 398 400 389 385 398 — —Home equity lines of credit 4,016 3,479 3,465 2,145 2,834 1,182 —Other consumer 921 1,003 955 1,089 704 144 73Total consumer 4,937 4,482 4,420 3,234 3,538 1,326 73Other 240 47 39 16 — 240 —Total$48,606 39,338 27,786 18,008 35,356 11,371 1,879 Glacier Bancorp, Inc.Credit Quality Summary by Regulatory Classification (continued)  Accruing 30-89 Days Delinquent Loans, by Loan Type % Change from(Dollars in thousands)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Mar 31,2025 Dec 31,2024 Jun 30,2024Custom and owner occupied construction$385 $786 $969 $1,323 (51)% (60)% (71)%Pre-sold and spec construction —  —  564  816 n/m (100)% (100)%Total residential construction 385  786  1,533  2,139 (51)% (75)% (82)%Land development 170  —  1,450  — n/m (88)% n/mConsumer land or lots 1,210  1,026  402  411 18% 201% 194%Unimproved land 75  32  36  158 134% 108% (53)%Developed lots for operative builders —  —  214  — n/m (100)% n/mCommercial lots —  189  —  21 (100)% n/m (100)%Other construction 7,840  —  —  — n/m n/m n/mTotal land, lot and other construction 9,295  1,247  2,102  590 645% 342% 1,475%Owner occupied 3,903  3,786  2,867  4,326 3% 36% (10)%Non-owner occupied 13,806  346  5,037  8,119 3,890% 174% 70%Total commercial real estate 17,709  4,132  7,904  12,445 329% 124% 42%Commercial and industrial 6,711  5,358  6,194  17,591 25% 8% (62)%Agriculture 8,243  5,731  744  5,288 44% 1,008% 56%First lien 3,583  14,826  6,326  2,637 (76)% (43)% 36%Junior lien —  1,023  214  17 (100)% (100)% (100)%Total 1-4 family 3,583  15,849  6,540  2,654 (77)% (45)% 35%Home equity lines of credit 5,482  6,993  3,731  5,432 (22)% 47% 1%Other consumer 1,615  1,824  1,775  2,192 (11)% (9)% (26)%Total consumer 7,097  8,817  5,506  7,624 (20)% 29% (7)%States and political subdivisions —  3,220  —  — (100)% n/m n/mOther 1,380  1,318  1,705  1,347 5% (19)% 2%Total$54,403 $46,458 $32,228 $49,678 17% 69% 10% ______________________________ n/m - not measurable Glacier Bancorp, Inc.Credit Quality Summary by Regulatory Classification (continued)  Net Charge-Offs (Recoveries), Year-to-DatePeriod Ending, By Loan Type Charge-Offs Recoveries(Dollars in thousands)Jun 30,2025 Mar 31,2025 Dec 31,2024 Jun 30,2024 Jun 30,2025 Jun 30,2025Pre-sold and spec construction$50  —  (4) (4) 51 1Land development (341) (341) 1,095  (1) — 341Consumer land or lots (3) (3) (22) (22) — 3Unimproved land —  —  1,338  5  — —Commercial lots —  —  319  319  — —Total land, lot and other construction (344) (344) 2,730  301  — 344Owner occupied (1) (1) (73) (73) — 1Non-owner occupied (8) (6) 2  (2) — 8Total commercial real estate (9) (7) (71) (75) — 9Commercial and industrial 26  92  1,422  644  827 801Agriculture (109) (1) 64  68  — 109First lien (79) (69) 32  (22) 1 80Junior lien (137) (5) (65) (55) — 137Total 1-4 family (216) (74) (33) (77) 1 217Home equity lines of credit (20) (20) 69  1  10 30Other consumer 656  276  1,078  493  789 133Total consumer 636  256  1,147  494  799 163Other 3,406  1,873  8,643  4,611  5,558 2,152Total$3,440  1,795  13,898  5,962  7,236 3,796  Visit our website at www.glacierbancorp.com

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