# GLACIER BANCORP, INC. (GBCI) Informational only - not investment advice. CIK: 0000868671 SIC: 6022 State Commercial Banks SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6022 State Commercial Banks](/industry/6022/) Latest 10-K filed: 2026-02-25 SEC page: https://www.sec.gov/edgar/browse/?CIK=868671 Filing source: https://www.sec.gov/Archives/edgar/data/868671/000086867126000023/gbci-20251231.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-02-25 · accession 0000868671-26-000023 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000868671.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 1,295,797,000 USD | 2025 | verified | | Net income | 239,028,000 USD | 2025 | verified | | Assets | 31,978,063,000 USD | 2025 | verified | | Free cash flow | 347,551,000 USD | 2025 | computed | | Net margin | 18.45% | 2025 | computed | | Revenue YoY | +13.68% | 2025 | computed | | ROE | 5.67% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | GBCI | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | 18.4% | 21.9% | 33 | 149 | | Revenue growth | 13.7% | 6.0% | 84 | 148 | | FCF margin | 26.8% | 23.8% | 61 | 133 | | ROE | 5.7% | 9.6% | 13 | 149 | | ROA | 0.7% | 1.1% | 17 | 149 | | Liabilities / equity | 6.59 | 8.04 | 18 | 149 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6022 State Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 1295797000 | USD | 2025 | 2026-02-25 | | Net income | 239028000 | USD | 2025 | 2026-02-25 | | Assets | 31978063000 | USD | 2025 | 2026-02-25 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-25. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000868671.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | | | | | | 344,153,000 | 375,022,000 | 468,996,000 | 546,177,000 | 627,064,000 | 681,074,000 | 829,640,000 | 1,017,655,000 | 1,139,850,000 | 1,295,797,000 | | Net income | | | | | | | 121,131,000 | 116,377,000 | 181,878,000 | 210,544,000 | 266,400,000 | 284,757,000 | 303,202,000 | 222,927,000 | 190,144,000 | 239,028,000 | | Diluted EPS | | | | | | | 1.59 | 1.50 | 2.17 | 2.38 | 2.81 | 2.86 | 2.74 | 2.01 | 1.68 | 1.99 | | Operating cash flow | | | | | | | 193,087,000 | 254,741,000 | 280,711,000 | 226,649,000 | 189,545,000 | 572,049,000 | 470,660,000 | 500,715,000 | 258,037,000 | 374,399,000 | | Capital expenditures | 22,652,000 | 17,492,000 | 10,730,000 | 8,977,000 | 14,389,000 | 18,224,000 | | | | | | | 33,763,000 | 49,534,000 | 48,277,000 | 26,848,000 | | Dividends paid | | | | | | | 84,040,000 | 111,720,000 | 85,493,000 | 124,468,000 | 131,263,000 | 145,557,000 | 157,540,000 | 146,690,000 | 150,034,000 | 162,736,000 | | Assets | | | | | | | 9,450,600,000 | 9,706,349,000 | 12,115,484,000 | 13,683,999,000 | 18,504,206,000 | 25,940,645,000 | 26,635,375,000 | 27,742,629,000 | 27,902,987,000 | 31,978,063,000 | | Liabilities | | | | | | | 8,333,731,000 | 8,507,292,000 | 10,599,630,000 | 11,723,266,000 | 16,197,165,000 | 22,763,023,000 | 23,792,070,000 | 24,722,348,000 | 24,679,133,000 | 27,764,242,000 | | Stockholders' equity | | | | | | | 1,116,869,000 | 1,199,057,000 | 1,515,854,000 | 1,960,733,000 | 2,307,041,000 | 3,177,622,000 | 2,843,305,000 | 3,020,281,000 | 3,223,854,000 | 4,213,821,000 | | Free cash flow | | | | | | | | | | | | | 436,897,000 | 451,181,000 | 209,760,000 | 347,551,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | | | | | | 35.20% | 31.03% | 38.78% | 38.55% | 42.48% | 41.81% | 36.55% | 21.91% | 16.68% | 18.45% | | Return on equity | | | | | | | 10.85% | 9.71% | 12.00% | 10.74% | 11.55% | 8.96% | 10.66% | 7.38% | 5.90% | 5.67% | | Return on assets | | | | | | | 1.28% | 1.20% | 1.50% | 1.54% | 1.44% | 1.10% | 1.14% | 0.80% | 0.68% | 0.75% | | Liabilities / equity | | | | | | | 7.46 | 7.09 | 6.99 | 5.98 | 7.02 | 7.16 | 8.37 | 8.19 | 7.66 | 6.59 | ## As-reported value updates 2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/GBCI/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-04. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000868671.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | 0.72 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 0.55 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | 0.50 | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 264,906,000 | 52,445,000 | 0.47 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 273,496,000 | 54,316,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 279,402,000 | 32,627,000 | 0.29 | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 273,834,000 | 44,708,000 | 0.39 | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 289,578,000 | 51,055,000 | 0.45 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 297,036,000 | 61,754,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 289,925,000 | 54,568,000 | 0.48 | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 308,115,000 | 52,781,000 | 0.45 | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 325,003,000 | 67,900,000 | 0.57 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 372,754,000 | 63,779,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 362,337,000 | 82,144,000 | 0.63 | reported discrete quarter | | 2026-Q2 | 2026-06-30 | 365,220,000 | 97,862,000 | 0.75 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from GBCI's latest 10-K: [/company/GBCI/business/](/company/GBCI/business/). ## Risk Factors Verbatim Item 1A Risk Factors from GBCI's latest 10-K: [/company/GBCI/risk-factors/](/company/GBCI/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/868671/000086867126000069/gbci-20260630.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-08-04 Report date: 2026-06-30 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations The following management’s discussion and analysis is intended to provide a more comprehensive review of the Company’s operating results and financial condition than can be obtained from reading the Consolidated Financial Statements alone. The discussion should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in “Part I. Item 1. Financial Statements.” FORWARD-LOOKING STATEMENTS This Form 10-Q 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, including additional factors identified in the sections titled “Risk Factors,” “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as applicable, in this report and in the Company’s 2025 Annual Report on Form 10-K, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements: •risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio; •changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity; •legislative or regulatory changes, including the possibility of increases in FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increases or changes in banking and consumer protection regulations, that may adversely affect the Company’s business and strategies; •risks related to overall economic conditions, including the impact on the economy of an uncertain interest rate environment, inflationary pressures, recently passed legislation and the potential for significant additional changes in economic and trade policies in the current administration; •risks to the Company’s business and the business of the Company’s customers arising from current or future tariffs or other trade restrictions, labor or supply chain issues, change in labor force, or geopolitical instability, including the wars in Iran and Ukraine, further conflicts in the Middle East, and potential for future conflicts or disruptions in other parts of the world; •risks associated with the Company’s ability to negotiate, complete, and successfully integrate acquisitions; •costs or difficulties related to the completion and integration of future or recently completed acquisitions; •impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital; •reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition; •deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company's ability to obtain and maintain customers; •changes in the competitive landscape, including as may result from new market entrants, additional competition from internet-based financial institutions operating nationally, or further consolidation in the financial services industry, resulting in increased competition, including the creation of larger competitors with greater financial resources; •risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions; •risks related to rapidly evolving artificial intelligence technologies; •risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions; •material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities; •risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events; •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. 50 Forward looking statements speak only as of the date of this Form 10-Q. 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. Non-GAAP Financial Measures Certain financial measures and ratios the Company presents are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). The Company refers to these financial measures and ratios as “non-GAAP financial measures.” A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is provided in the tables within this Form 10Q. The Company considers the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and in evaluating period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain income, expense, or intangible items that the Company believes are not indicative of its primary business operating results. These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and investors should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures presented may differ from non-GAAP financial measures used by the Company’s peers or other companies. The Company compensates for these differences by providing the equivalent GAAP measures whenever the Company presents the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance. 51 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Financial Highlights [[GREPCENT_TABLE]] [["","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, 2026","","Mar 31, 2026","","Jun 30, 2025","","","","Jun 30, 2026","","Jun 30, 2025"],["Performance results"],["Net income","$","97,862","","","82,144","","","52,781","","","","","180,006","","","107,349"],["Basic earnings per share","$","0.75","","","0.63","","","0.45","","","","","1.38","","","0.93"],["Diluted earnings per share","$","0.75","","","0.63","","","0.45","","","","","1.38","","","0.93"],["Operating diluted earnings per share (non-GAAP) 1","$","0.76","","","0.70","","","0.57","","","","","1.45","","","1.04"],["Dividends declared per share","$","0.33","","","0.33","","","0.33","","","","","0.66","","","0.66"],["Market value per share"],["Closing","$","51.58","","","44.67","","","43.08","","","","","51.58","","","43.08"],["High","$","52.16","","","53.99","","","44.70","","","","","53.99","","","52.81"],["Low","$","44.26","","","41.87","","","36.76","","","","","41.87","","","36.76"],["Selected ratios and other data"],["Number of common stock shares outstanding","130,202,054","","130,124,378","","118,550,475","","","","130,202,054","","118,550,475"],["Average outstanding shares - basic","130,167,496","","130,052,858","","116,890,776","","","","130,110,494","","115,180,489"],["Average outstanding shares - diluted","130,346,888","","130,242,765","","116,918,290","","","","130,283,236","","115,244,550"],["Return on average assets (annualized)","1.25","%","","1.05","%","","0.74","%","","","","1.15","%","","0.77","%"],["Return on average equity (annualized)","9.13","%","","7.82","%","","6.13","%","","","","8.48","%","","6.44","%"],["Efficiency ratio","56.65","%","","63.05","%","","62.08","%","","","","59.79","%","","63.72","%"],["Operating efficiency ratio (non-GAAP) 1","56.21","%","","59.25","%","","61.19","%","","","","57.70","%","","63.49","%"],["Loan to deposit ratio","86.84","%","","85.18","%","","85.91","%","","","","86.84","%","","85.91","%"],["Number of full time equivalent employees","4,125","","4,139","","3,665","","","","4,125","","3,665"],["Number of locations","282","","282","","247","","","","282","","247"],["Number of ATMs","339","","337","","300","","","","339","","300"]] [[/GREPCENT_TABLE]] ______________________________ 1 Represents a non-GAAP financial measure. Supplemental “Non-GAAP Financial Measures and Reconciliations” tables are provided to reconcile the most directly comparable financial measure calculated and presented in accordance with GAAP. The Company reported net income of $97.9 million for the current quarter, an increase of $15.8 million, or 19 percent, from the prior quarter net income of $82.1 million and an increase of $45.1 million, or 85 percent, from the prior year second quarter net income of $52.8 million. Diluted earnings per share for the current quarter was $0.75 per share, an increase of $0.12 per share, or 19 percent, from the prior quarter diluted earnings per share of $0.63 and an increase of $0.30 per share, or 67 percent, from the prior year second quarter diluted earnings per share of $0.45. Operating diluted earnings per share for the current quarter was $0.76 per share, an increase of $0.06 per share, or 9 percent, from the prior quarter operating diluted earnings per share of $0.70 and an increase of $0.19 per share, or 33 percent, from the prior year second quarter operating diluted earnings per share of $0.57. The current quarter included $1.6 million in acquisition-related expenses, $2.5 million of compensation from acquisition-related employment agreements and $2.6 million of gains from the sale of former branch facilities and disposal of fixed assets. Net income for the first half of 2026 was $180 million, an increase of $72.7 million, or 68 percent, from the prior year first half net income of $107 million which was driven primarily by the increase in net interest income from the improvement in the net interest margin. Diluted earnings per share for the first half of 2026 was $1.38 per share, an increase of $0.45 per share, or 48 percent, from the prior year first half diluted earnings per share of $0.93. Operating diluted earnings per share for the first half of 2026 was $1.45 per share, an increase of $0.41 per share, or 39 percent, from the prior year first half operating diluted earnings per share of $1.04. 52 Market Conditions The current macroeconomic and geopolitical environment is subject to a number of uncertainties, including geopolitical conflicts, tariffs (or the threat thereof) or other changes in trade policies, capital markets volatility, and inflation [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/868671/000086867126000023/gbci-20251231.htm Complete FY 2025 MD&A: /company/GBCI/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture. Confidence: high Filing date: 2026-02-25 Report date: 2025-12-31 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion is intended to provide a more comprehensive review of the Company’s operating results and financial condition from management’s perspective than can be obtained from reading the Consolidated Financial Statements alone. The information includes management’s assessment of material information relevant to the Company’s financial condition and results of operations, material events and uncertainties that are reasonably likely to cause reported information not to be indicative of future operating results or financial condition, and material financial and statistical information that the Company believes will enhance the investors’ understanding of the Company and its financial results. The discussion should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in “Item 8. Financial Statements and Supplementary Data.” CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains 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 the negative version of those words 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 subject to assumptions with respect to future business strategies and decisions 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 factors set forth under “Risk Factors” and in other sections in this Annual Report on Form 10-K, or the documents incorporated by reference: •risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio; •changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity; •legislative or regulatory changes, including the possibility of increases in FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increases or changes in banking and consumer protection regulations, that may adversely affect the Company’s business and strategies; •risks related to overall economic conditions, including the impact on the economy of a current or future government shutdown, an uncertain interest rate environment, inflationary pressures, future or 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, changes in labor force, or geopolitical instability, including the war in Ukraine, conflicts in the Middle East, and the potential for future conflicts or disruptions in other parts of the world; •risks associated with the Company’s ability to negotiate, complete, and successfully integrate acquisitions; •costs or difficulties related to the completion and integration of future or recently completed acquisitions; •impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital; •reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition; •deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company's ability to obtain and maintain customers; •changes in the competitive landscape, including as may result from new market entrants, additional competition from internet-based financial institutions operating nationally, or further consolidation in the financial services industry, resulting in increased competition, including the creation of larger competitors with greater financial resources; •risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions; •risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions; •material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities; •risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events; •success in managing risks involved in any of the foregoing; and effects of any reputational damage to the Company resulting from any of the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in “Item 1A. Risk Factors.” Please take into account that forward-looking statements speak only as of the date of this Annual Report on Form 10-K (or documents incorporated by reference, if applicable). Given the described uncertainties and risks, the Company cannot guarantee its future performance or results of operations and you should not place undue reliance on these forward-looking statements. The Company does not undertake any obligation to publicly correct, revise, or update any forward-looking 23 statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement, except as may be required under federal securities laws. FIVE YEAR SELECTED FINANCIAL DATA Selected Financial Data The selected financial data of the Company is derived from the Company’s historical audited financial statements and related notes. The information set forth below should be read in conjunction with “Item 8. Financial Statements and Supplementary Data” contained elsewhere in this Annual Report on Form 10-K. [[GREPCENT_TABLE]] [["","December 31,","","Compounded Annual Growth Rate"],["(Dollars in thousands, except per share data)","2025","","2024","","2023","","2022","","2021","","1-Year","","5-Year"],["Selected Statements of Financial Condition Information"],["Total assets","$","31,978,063","","","$","27,902,987","","","$","27,742,629","","","$","26,635,375","","","$","25,940,645","","","14.6","%","","4.3","%"],["Debt securities","7,117,728","","7,540,052","","8,288,130","","9,022,359","","10,370,013","","(5.6)","%","","(7.3)","%"],["Loans receivable, net","20,672,477","","17,055,808","","16,005,325","","15,064,529","","13,259,366","","21.2","%","","9.3","%"],["Allowance for credit losses","(255,319)","","(206,041)","","(192,757)","","(182,283)","","(172,665)","","23.9","%","","8.1","%"],["Goodwill and intangibles","1,483,552","","1,102,500","","1,017,263","","1,026,994","","1,037,652","","34.6","%","","7.4","%"],["Deposits","24,591,096","","20,546,994","","19,929,167","","20,606,555","","21,337,249","","19.7","%","","2.9","%"],["Securities sold under agreements to repurchase","2,084,113","","1,777,475","","1,486,850","","945,916","","1,020,794","","17.3","%","","15.3","%"],["Federal Home Loan Bank advances","440,000","","1,800,000","","\u2014","","1,800,000","","\u2014","","(75.6)","%","","n/m"],["FRB Bank Term Funding","\u2014","","\u2014","","2,740,000","","\u2014","","\u2014","","n/m","","n/m"],["Stockholders\u2019 equity","4,213,821","","3,223,854","","3,020,281","","2,843,305","","3,177,622","","30.7","%","","5.8","%"],["Equity per share","32.42","","28.43","","27.24","","25.67","","28.71","","14.0","%","","2.5","%"],["Equity as a percentage of total assets","13.2","%","","11.6","%","","10.9","%","","10.7","%","","12.3","%","","14.1","%","","1.5","%"]] [[/GREPCENT_TABLE]] ________________________ n/m - not measurable [[GREPCENT_TABLE]] [["","Years ended December 31,","","Compounded Annual Growth Rate"],["(Dollars in thousands, except per share data)","2025","","2024","","2023","","2022","","2021","","1-Year","","5-Year"],["Summary Statements of Operations"],["Interest income","$","1,295,797","","","$","1,139,850","","","$","1,017,655","","","$","829,640","","","$","681,074","","","13.7","%","","13.7","%"],["Interest expense","406,757","","","435,218","","","325,973","","","41,261","","","18,558","","","(6.5)","%","","85.4","%"],["Net interest income","889,040","","","704,632","","","691,682","","","788,379","","","662,516","","","26.2","%","","6.1","%"],["Provision for credit losses","71,400","","","28,306","","","14,795","","","19,963","","","23,076","","","152.2","%","","25.3","%"],["Non-interest income","141,385","","","128,446","","","118,079","","","120,732","","","144,820","","","10.1","%","","(0.5)","%"],["Non-interest expense","668,777","","","578,468","","","527,358","","","518,868","","","434,822","","","15.6","%","","9.0","%"],["Income before income taxes","290,248","","","226,304","","","267,608","","","370,280","","","349,438","","","28.3","%","","(3.6)","%"],["Federal and state income tax expense","51,220","","","36,160","","","44,681","","","67,078","","","64,681","","","41.6","%","","(4.6)","%"],["Net income","$","239,028","","","$","190,144","","","$","222,927","","","$","303,202","","","$","284,757","","","25.7","%","","(3.4)","%"],["Basic earnings per share","$","2.00","","","$","1.68","","","$","2.01","","","$","2.74","","","$","2.87","","","19.0","%","","(7.0)","%"],["Diluted earnings per share","$","1.99","","","$","1.68","","","$","2.01","","","$","2.74","","","$","2.86","","","18.5","%","","(7.0)","%"],["Dividends declared per share","$","1.32","","","$","1.32","","","$","1.32","","","$","1.32","","","$","1.37","","","\u2014","%","","(0.7)","%"]] [[/GREPCENT_TABLE]] 24 [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/GBCI/mda/fy2025/ All MD&A years: /company/GBCI/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/GBCI/mda/fy2024/): filed 2025-02-25; accession 0000868671-25-000046 (https://www.sec.gov/Archives/edgar/data/868671/000086867125000046/gbci-20241231.htm) - [FY 2023 MD&A](/company/GBCI/mda/fy2023/): filed 2024-02-23; accession 0000868671-24-000042 (https://www.sec.gov/Archives/edgar/data/868671/000086867124000042/gbci-20231231.htm) - [FY 2022 MD&A](/company/GBCI/mda/fy2022/): filed 2023-02-24; accession 0000868671-23-000045 (https://www.sec.gov/Archives/edgar/data/868671/000086867123000045/gbci-20221231.htm) - [FY 2021 MD&A](/company/GBCI/mda/fy2021/): filed 2022-02-23; accession 0000868671-22-000053 (https://www.sec.gov/Archives/edgar/data/868671/000086867122000053/gbci-20211231.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 6022 State Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit - [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/GBCI.md · JSON record: /company/GBCI.json · verified financials: /company/GBCI/financials.json / /company/GBCI/financials.csv · machine TOC for the whole site: /llms.txt