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GBCI Glacier Bancorp Inc

50.16
0.00 (0.00%)
Pre Market
Last Updated: 09:20:18
Delayed by 15 minutes
Share Name Share Symbol Market Type
Glacier Bancorp Inc NYSE:GBCI NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 50.16 12 09:20:18

Form 8-K - Current report

12/02/2025 9:39pm

Edgar (US Regulatory)


0000868671false00008686712025-02-122025-02-12

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________________
FORM 8-K
____________________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 12, 2025

____________________________________________________________
GLACIER BANCORP, INC.
(Exact name of registrant as specified in its charter)
____________________________________________________________
Montana000-1891181-0519541
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
49 Commons LoopKalispell,Montana59901
(Address of principal executive offices)(Zip Code)
(406)756-4200
(Registrant’s telephone number, including area code)
____________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueGBCIThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 7.01 REGULATION FD DISCLOSURE

On February 12, 2025, Glacier Bancorp, Inc. (“Company”), Kalispell, Montana, made an investor presentation which is also posted on its website. The presentation is furnished as Exhibit 99.1 to this report.

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The investor presentation described in Item 7.01 is furnished with this report as Exhibit 99.1.

99.1    Investor Presentation

104    Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:February 12, 2025GLACIER BANCORP, INC.
/s/ Randall M. Chesler
By:Randall M. Chesler
President and Chief Executive Officer




Investor Presentation December 31, 2024


 
Forward-Looking Statements This presentation 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,” “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: 1) Risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio; 2) Changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which may continue to adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity; 3) Legislative or regulatory changes, including increased FDIC insurance rates and assessments, or increased banking and consumer protection regulations, that may adversely affect the Company’s business and strategies; 4) Risks related to overall economic conditions, including the impact on the economy of a rising interest rate environment, inflationary pressures, and geopolitical instability, including the wars in Ukraine and the Middle East; 5) Risks associated with the Company’s ability to negotiate, complete, and successfully integrate any pending or future acquisitions; 6) Costs or difficulties related to the completion and integration of pending or future acquisitions; 7) Impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital; 8) Reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition; 9) Deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company's ability to obtain and maintain customers; 10) 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; 11) 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; 12) Risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions; 13) 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; 14) Risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events; 15) Success in managing risks involved in any of the foregoing; and 16) Effects of any reputational damage to the Company resulting from any of the foregoing. 2


 
Glacier Bancorp, Inc. 12/31/2024 Snapshot Ticker GBCI Total Assets $27.90 billion Gross Loans $17.26 billion Deposits $20.55 billion TCBV Per Share $18.71 Dividends $1.32 Stock Price $50.22 Market Cap $5.70 billion 3


 
Differentiated Bank Model • Genuine community banking model • Backed by resources and support of Glacier Bancorp • Strategy of growth through acquisitions and organically 4


 
Glacier is a “Company of Banks” 5


 
WY ID UT AZ NV WA CO MT • 17 Bank Divisions • 227 Locations (as of 12/31/2024) 6


 
Acquisition - Community Financial Group, Inc. • The January 31, 2024 acquisition complements GBCI’s existing strong loan and deposit portfolios and deepens its agricultural presence in one of the top Ag producing markets in the United States • Established a market-leading Eastern Washington franchise • The acquisition was consistent with Glacier’s long-term strategy of buying good banks in good markets with good people • A new bank division, Wheatland Bank, was formed upon combining with the North Cascades Bank division • The Wheatland Bank division is Glacier’s 7th largest division by asset size, with over $1.6 billion in assets and 250 employees 7


 
Acquisition - Community Financial Group, Inc. * Excludes $2.34 million of Loans Held for Sale Total assets $777,05 Cash and cash equivalents 12,926 Debt securities 187,183 Loans receivable * 450,403 Non-interest bearing deposits 277,651 Interest bearing deposits 339,304 Borrowings 58,500 Core Deposit Intangible 16,936 Goodwill 38,146 Fair Value of Select Assets and Liabilities Dollars in thousands 8


 
Acquisition - Six Montana Branches of HTLF Bank • On July 19, 2024, Glacier Bank completed the acquisition of six Montana branch locations of the Rocky Mountain Bank division of HTLF Bank, a wholly owned subsidiary of Heartland Financial USA, Inc. • The six branches Glacier Bank will acquire are located in : • The branches will join Glacier Bank divisions operating in Montana • At closing, the acquired branches had $272 million of loans and $397 million of deposits • Billings, MT – 2 locations • Stevensville, MT – 1 location • Bozeman, MT – 1 location • Whitehall, MT – 1 location • Plentywood, MT – 1 location Stevensvi l le , MT Plentywood, MTWhitehal l , MT Bozeman, MTBi l l ings, MT 9


 
Acquisition – Six Montana Branches Total assets $403,052 Cash and cash equivalents 76,781 Debt securities - Loans receivable 271,569 Non-interest bearing deposits 93,534 Interest bearing deposits 303,156 Borrowings 4,305 Core Deposit Intangible 11,808 Goodwill 27,780 Fair Value of Select Assets and Liabilities Dollars in thousands RMB GBCI 10


 
Bank of Idaho Holding Company Acquisition - Pending • Founded in 1985 and headquartered in Idaho Falls, Idaho • Full-service community bank, providing comprehensive financial services to businesses and individuals with 15 branch locations throughout Eastern Idaho, Boise Metro and Eastern Washington • Bank of Idaho has three dynamic market areas • Core Eastern Idaho markets with sticky, low-cost deposit base and long-term lending relationships (35+ year history in Eastern Idaho) • Opened a branch in the Boise market in early 2019 – has since grown to four branches and approximately $290 million of loans and $223 million of deposits in Boise (79% deposit CAGR and 53% loan CAGR since 2019) • Entered the Eastern Washington market in 2022 with the acquisition of five Eastern Washington branches from HomeStreet Bank • Expected closing in the second quarter of 2025 11


 
Bank of Idaho Holding Company Acquisition - Pending 12 • Acquisition complements Glacier’s existing strong loan and deposit portfolios and deepens its presence in several of the top growth markets in the United States • Aligns with Glacier’s long-term strategy of acquiring quality banks in strong markets with exceptional teams • Further strengthens a market-leading franchise across Idaho and Eastern Washington • Positions Glacier as the 3rd largest bank and largest community bank in the state of Idaho, based on deposit market share • Transaction positions Glacier as the 5th largest community bank in Eastern Washington • Synergistic expansion of Glacier’s existing footprint in Eastern Idaho, Boise Metro and Eastern Washington • Bank of Idaho will merge into three existing Glacier divisions: Wheatland Bank, Mountain West Bank and Citizens Community Bank


 
Bank of Idaho Holding Company Transaction Overview and Assumptions 13 Consideration Mix  100% stock consideration to BOID common shareholders  1.100x shares of Glacier stock for each BOID share  BOID options and stock appreciation rights will be cashed out for their in-the-money value Implied Transaction Value(1)  $234.3 million to common shareholders, or $52.47 per share(2)  $11.0 million to option and stock appreciation rights holders(3)  $245.4 million total transaction value Loan Credit Mark Estimate  Gross credit mark discount of $14.2 million, or 1.41% of BOID’s gross loans  95% allocated to non-PCD loans, or $13.5 million  Non-PCD credit mark accreted over 5 years using the sum-of-years’ digits methodology  Establishment of CECL reserve for non-PCD loans of $13.5 million, reflected in pro forma TBV at closing Other Adjustments and Fair Value Estimates  Loan interest rate mark premium of $3.2 million, or 0.32% of BOID’s gross loans, amortized over 5 years using the sum-of-years’ digits methodology  Core deposit intangible of 1.75%, or $15.5 million, amortized over 10 years using the sum-of-years’ digits methodology  Elimination of BOID’s AOCI of $(9.4) million, accreted over 6 years using the sum-of-years’ digits methodology  Fixed asset write-up of $3.3 million; amortized over 20 years straight-line  Net fair value adjustment of $0.4 million for CDs and subordinated debt combined Cost Savings  Cost savings of 30.0% of BOID’s non-interest expense  30.0% realized in 2025, 80.0% realized in 2026 and 100.0% thereafter Durbin Impact  Estimated reduction of BOID’s interchange income by approximately $0.5 million annually, pre-tax Transaction Expenses(4)  Estimated one-time transaction costs of approximately $17.7 million, pre-tax Price Protection  Fixed exchange ratio with collars set between $35.74 and $53.60 (+/- 20% from GBCI stock price in LOI) Minimum Tangible Equity  $122.1 million at closing  Excess tangible common equity, net of any adjustments for BOID’s final transaction expenses, to be paid out to BOID shareholders at closing Expected Closing  Second Quarter of 2025 (1) Based on GBCI closing price of $47.70 on 1/10/2025 (2) Includes 4,420,332 BOID shares and 45,413 RSUs which will vest at closing (3) Includes 370,725 options with a weighted average exercise price of $24.87 and 24,291 SARs with a weighted average grant price of $19.08 (4) Including employment and benefit plan costs, data contract termination and conversion costs and combined professional and advisory fees


 
Pending* $1,293M Assets July 2024 Six Montana Branches GBCI Acquisition History – 2013 through 2024 • Long history of adding high quality community banks that fit the Glacier banking model May 2013 $301M Assets July 2013 $330M Assets August 2014 $349M Assets February 2015 $176M Assets October 2015 $270M Assets October 2021 $4,132M Assets July 2019 $978M Assets April 2017 $386M Assets April 2019 $379M Assets February 2018 $1,110M Assets January 2018 $551M Assets February 2020 $745M Assets August 2016 $76M Assets Source: S&P Capital IQ Pro Note: Assets for acquired bank based on date of deal completion *Acquisition of Bank of Idaho Holding Company is pending and anticipated to close in Q2 2025. GBCI total assets shown for 12/31/2024 are pro forma for the pending acquisition. January 2024 $778M Assets 14


 
15 Total Assets of Target Banks Number of Target Banks AZ CO Eastern WA ID MT NV UT WY Total $100MM - $500MM 4 35 2 4 16 6 4 10 81 $500MM - $1.0B 2 11 2 2 4 0 2 6 29 $1.0B - $3.5B 0 5 1 3 4 2 5 0 20 $3.5B - $10.0B 0 3 0 0 1 0 0 0 4 Totals 6 54 5 9 25 8 11 16 134


 
Solid Financial Results 16


 
Diluted Earnings Per Share $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 $2.75 $3.00 $3.25 2019 2020 2021 2022 2023 2024 $2.38 $2.81 $0.55 $0.29 $0.50 $0.39 $0.47 $0.45 $0.49 $0.54 $2.74 $2.01 • The decrease in 2024 EPS over 2023 EPS was driven primarily by the significant increase in funding costs combined with the increased costs associated with the acquisitions of Wheatland Bank and the six Rocky Mountain branches • 2024 non-interest expense of $578.5 million increased $51.1 million over the prior year, and was primarily driven by annual salary increases, increases in performance-related compensation, and the acquisitions of Wheatland Bank and the six Rocky Mountain branches $2.86 $1.68 17


 
0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% 2019 2020 2021 2022 2023 2024 1.62%1.64% 1.33% 0.81% 0.68% • ROA for 2024 was 0.68% • ROA of 0.62% for the third quarter of 2024 was in the 24th♦ percentile among Glacier’s peer group Return on Assets ♦BHCPR as of 9/30/2024 1.15% 18


 
4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 2019 2020 2021 2022 2023 2024 16.15% 15.49% 16.59%16.85% 12.14% 9.61% • The Company’s historically high capital levels have made it more difficult to produce higher ROTE. Return on Tangible Equity 19


 
$100 $200 $300 $400 $500 $600 $700 $800 $900 2019 2020 2021 2022 2023 2024 $503 $600 $663 $788 $692 $705 4.39% 4.09% 3.42% 3.27% 2.73% YTD 2.77% • Net interest income of $705 million for 2024 increased $13 million, or 1.87%, over net interest income of $692 million for 2023 • Net interest margin of 2.77% for 2024 increased 4 basis points over the net interest margin of 2.73% for 2023 Net Interest Income / Margin (Dollars in millions) Q2 2.68% Q3 2.83% Q4 2.97% 20 Q1 2.59%


 
Net Interest Margin Year-to-Date 2024 compared to Year-to-Date 2023  Loans provided interest income of $951.3 million in 2024 compared to $821.6 million in 2023 primarily due to the increase in average yields (up 42 bps from 5.19% to 5.61%) and the increase in loan volume  Securities interest income decreased $7.1 million primarily due to average volume decreasing offset by average yields increasing 2.11% to 2.25%  Interest expense on deposits increased $110.3 million primarily due to the cost of deposits increasing 0.81% to 1.34%  Total cost of funding of $435.2 million increased $109.2 million , or 44 basis points, from $326.0 million. The increase of $109.2 million included a decrease of $66.3 million in interest expense from the Bank Term Funding Program (BTFP) borrowing and an increase of $45.7 million in interest expense from the FHLB borrowing 3.17% 3.16% 3.08% 3.02% 2.97% 2.91% 2.86% 2.82% 2.79% 2.77% 2.75% 2.73% 2.54% 2.58% 2.59% 2.61% 2.62% 2.64% 2.65% 2.68% 2.70% 2.72% 2.75% 2.77% 2.40% 2.50% 2.60% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% Jan Feb March April May June July Aug Sept Oct Nov Dec 2023 2024 (YTD NIM as of the end of each month) 21


 
Strong Balance Sheet 22


 
$13,864 $18,504 $25,941 $26,635 $27,743 $27,903 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 $30,000 2019 2020 2021 2022 2023 2024 • Total assets organically decreased $1.020 billion, or 4%, during 2024 • Total assets grew $1.107 billion, or 4%, in 2023 • Decreased cash position by $506 million in 2024 Asset Trends (Dollars in millions) 23


 
11.00% 12.00% 13.00% CET1 ♦ 12.1% 12.5% Peers Glacier • Regulatory capital CET1 ratio was 12.7% at the end of 2024 • Regulatory capital CET1 was 12.5% at September 30, 2024, which was well above the peer median♦ CET 1 Capital Relative to Peers ♦ Proxy Compensation Peer Group Median as of 9/30/2024 24


 
Ample Liquidity of $14.5 Billion at December 31, 2024 • Ready access to liquidity totaling $9.2 billion • $4.9 billion in available borrowing capacity o Federal Reserve: $1.9 billion o FHLB: $2.5 billion o Correspondent banks: $0.5 billion • $3.5 billion of unpledged marketable securities • Cash of $0.8 billion • Additional liquidity totaling $5.3 billion • Access to brokered deposits: $4.2 billion • Over-pledged marketable securities: $1.1 billion 25


 
Strong Core Deposit Base • Our community banking model is customer relationship driven • Uninsured deposits, excluding collateralized public deposits and cash held at the holding company, are 24% of total deposits • 34% of uninsured deposits are with customers that also have a loan relationship with us • Deposit accounts less than $250,000 have increased 2.6% year to date • Non-interest bearing deposits • 56% of non-interest bearing balances are in accounts with $250,000 or less • 50% of non-interest bearing deposits are with customers with multiple accounts • 79% of non-interest bearing balances are in business accounts 26


 
Strong Core Deposit Base - Continued • Demand and savings deposit characteristics • Deposit Granularity • Retail: 664,984 accounts ; average balance = $11,780 • Commercial: 162,652 accounts ; average balance = $59,969 • Relationship Length • Weighted average relationship age is 16 years • Composition Mix • Retail: 47% • Commercial: 45% • Public: 8% • Rural / Metro Mix • 78% in rural markets • 22% in metro markets ( population of 500,000 or more) 27


 
$10,776 $14,798 $21,337 $20,607 $19,929 $20,547 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 2019 2020 2021 2022 2023 2024 • During 2024: • total deposits increased $618 million, or 3% • core deposits also grew $618 million or 3%, • deposits and repurchase agreements increased $909 million, or 4% Deposit Trends (Dollars in millions) 28


 
Non- Interest Bearing 30% NOW and DDA 27% Savings 14% MMDA 14% CDs 15% Wholesale 0% 12/31/2023 Non- Interest Bearing 30% NOW and DDA 27% Savings 14% MMDA 14% CDs 15% Wholesale 0% 12/31/2024 Deposit Composition 29


 
$3,697 $5,455 $7,779 $7,691 $6,023 $6,137 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 2019 2020 2021 2022 2023 2024 • Non-interest bearing deposits increased $114 million, or 2%, during 2024 • Non-interest bearing deposits were 30% of total core deposits at December 31, 2024 compared to 30% at December 31, 2023 Non-Interest Bearing Deposits (Dollars in millions) 30


 
0.24% 0.15% 0.09% 0.11% 1.22% 1.94% 1.10% 0.53% 0.21% 0.58% 2.49% 3.21% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% Glacier Peers • Interest-bearing deposit cost increased to 1.92% at December 31, 2024 due to market dynamics and the competitive rate environment • Total deposit cost increased to 1.34% at December 31, 2024 from 0.81% at December 31, 2023 • Core deposits are a competitive advantage and will be a key driver of future performance Interest-Bearing Deposit Cost Relative to Peers ♦ ♦Graph based on BHCPR as of 9/30/2024 31


 
$0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 2019 2020 2021 2022 2023 2024 $364 $1,158 $419 $1,815 $951 $342 • Organic loan growth for 2024 was $342 million, or 2%, compared to $951 million, or 6% for 2023 Organic Loan Growth (Dollars in millions) 32


 
Residential Real Estate 11% CRE 64% Other Commercial 18% HELOC 5% Other Consumer 2% 12/31/2023 Residential Real Estate 11% CRE 64% Other Commercial 18% HELOC 5% Other Consumer 2% 12/31/2024 Loan Composition 33


 
Montana 62% Idaho 22% Utah 2% Washington 1% Wyoming 9% Colorado 4% 12/31/2009 Montana 34% Idaho 13%Utah 15% Washington 8% Wyoming 8% Colorado 9% Arizona 9% Nevada 4% 12/31/2024 Geographic Loan Dispersion 34


 
Term CRE Portfolio * Diversified and Low Risk Portfolio • Total portfolio $7.2 billion (42% of total portfolio) • Non-owner portfolio $4.0 billion (23% of total portfolio) • $892 thousand average loan balance • 58% average LTV • 0.12% past due rate • 0.04% non-performing • 98% of loans have recourse through guaranties • Geographically dispersed across 8 states 44% 56% TOTAL CRE BY OCCUPANCY TYPE Owner Occupied Non-Owner Occupied UT 17% ID 12% MT 24%WY 6% NV 8% CO 11% WA 8% AZ 14% CRE GEOGRAPHIC DISPERSION * Loans are based on regulatory classification, which is based primarily on the type of collateral for the loans. CRE loans may differ when comparing to disclosures in the Company’s quarterly and annual reports filed with the SEC which are based on the purpose of the loan. 35


 
Office CRE Portfolio * • $699 thousand average loan balance • 59% average LTV • 0.11% past due • 0.05% non-performing • 98% of loans have recourse through guaranties • Includes $146 million in medical office • 14% of office portfolio matures or reprices prior to 2026 • Limited exposure to loans above $10 million (1% of total loans). No office CRE loans above $20 million $217 $201 $290 $201 $176 $104 $313 $11 $- $50 $100 $150 $200 $250 $300 $350 2025 2026 2027 2028 2029 2030 2031-2035 2036 & After CRE Office by Earlier of Next Repricing or Maturity (in millions) $537 $631 $190 $154 $0 $0 $100 $200 $300 $400 $500 $600 $700 Under $1mil $1mil - $5mil $5mil - $10mil $10mil - $20mil Over $20mil CRE Office by Size Segment (in millions) % of Total Office 36% 42% 13% 10% 0% % of Total Portfolio 3% 4% 1% 1% 0% * Loans are based on regulatory classification, which is based primarily on the type of collateral for the loans. CRE loans may differ when comparing to disclosures in the Company’s quarterly and annual reports filed with the SEC which are based on the purpose of the loan. 36


 
Office CRE - Continued Denver $41 million Phoenix $26 million Salt Lake City $24 million Suburban/Rural $1.42 billion • Highly diversified portfolio across 8 states primarily in rural markets • Portfolio in Denver, Phoenix, and Salt Lake City represent 6% of total office (0.5% of total loans) • $17 million in large metro central business districts (1% of total Office) Owner Occupied: $725 million Non-Owner Occupied: $788 million Metro vs. Rural (in millions) Denver Phoenix Salt Lake City Suburban/Rural 47.91% 52.09% CRE OFFICE BY OCCUPANCY TYPE Owner Occupied Non-Owner Occupied ID 11% CO 11% UT 18% WY 4% AZ 14% NV 9% WA 9% MT 24% OFFICE CRE GEOGRAPHIC DISPERSION 37


 
$2,800 $5,528 $10,370 $9,022 $8,288 $7,540 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 2019 2020 2021 2022 2023 2024 • Investment securities ended 2024 at 27% of total assets compared to 30% at the end of 2023 • Investment securities decreased $748 million, or 9%, during 2024 • Projected quarterly cash flow of $300 million to fund loan growth Investment Portfolio Trends (Dollars in millions) 38


 
US Gov't & Federal Agency 16% US Gov't Sponsored Enterprises 4% State & Local Gov'ts 21% Corporate Bonds 0% Residential MBS 46% Commercial MBS 13% 12/31/2023 US Gov't & Federal Agency 18% US Gov't Sponsored Enterprises 4% State & Local Gov'ts 22% Corporate Bonds 0% Residential MBS 42% Commercial MBS 14% 12/31/2024 Investment Composition 39


 
Credit Quality 40


 
0.00% 0.10% 0.20% 0.30% 0.40% 2019 2020 2021 2022 2023 2024 0.27% 0.19% 0.12% 0.09% 0.10% • During 2024, NPAs increased $2.2 million to 0.10% of Bank assets compared to 0.09% of Bank assets in 2023 NPAs to Bank Assets 0.26% 41


 
CECL and Allowance for Credit Losses (ACL) • Commercial Asset Quality Ratings • Consumer Loan Past Due Status • Additional Qualitative Adjustments • Prepayment Speed Assumptions • Low levels of unemployment • Historical Loss Period Capture (Dollars in millions) Other Key Model Inputs National Economic Assumptions (December 2024) 3Q 24 4Q 24 1Q 25 2024 2025 GDP Change 0.7% 0. 6% 0.6% 2.5% 2.5% Unemployment Rate 4.2% 4.2% 4.3% 4.1% 4.3% 1.19% of Total Loans 1.19% of Total Loans 42


 
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 2019 2020 2021 2022 2023 2024 $57 $39,765 $23,076 $19,963 $14,795 $28,306 • Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts and other environmental factors will determine the future level of credit loss expense or benefit Provision For Credit Losses (Dollars in thousands) 43


 
$0 $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 2019 2020 2021 2022 2023 2024 $6,806 $7,653 $2,329 $7,815 $10,316 $13,898 • During 2024, net charge-offs as a percentage of total loans were 0.08% compared to 0.06% in 2023 Net Charge-Offs (Dollars in thousands) 44


 
1.00% 1.25% 1.50% 1.75% 2019 2020 2021 2022 2023 2024 1.31% 1.42% 1.29% 1.20% 1.19% 1.19% • ACL was in the 46th♦ percentile of Glacier’s peer group for the third quarter 2024 • The ACL was 1.19% of loans at the end of 2024 and at the end of 2023 • As credit trends change, expect the ACL to adjust accordingly ACL as a Percentage of Loans ♦BHCPR as of 9/30/2024 45


 
Shareholder Return 46


 
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20 $1.30 • At December 31, 2024, Glacier’s dividend yield was 2.63% • The Company has declared 159 consecutive quarterly dividends Dividends Declared 47


 
10 Year Total Return 12/31/2014 – 12/31/2024 48


 
1 Year Total Return 12/31/2023 – 12/31/2024 49


 
A Definitive Ranking of Publicly Traded Banks Every publicly traded bank ranked by all-time total shareholder return * Includes both dividends paid and share price appreciation ** Normalized to account for the time period that each bank has been publicly traded GBCI shares have been publicly traded since 1984 Source: John J. Maxfield – President, Maxfield on Banks (April 19, 2024) Rank Symbol Bank All-Time Return* Annualized** 1 GBCI Glacier Bancorp, Inc. 35,870% 16.01% 50


 
Named by Forbes as a World’s Best Bank Five consecutive years (2020-2024) 51


 


 
v3.25.0.1
Cover Page
Feb. 12, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 12, 2025
Entity Registrant Name GLACIER BANCORP, INC.
Entity Incorporation, State or Country Code MT
Entity File Number 000-18911
Entity Tax Identification Number 81-0519541
Entity Address, Address Line One 49 Commons Loop
Entity Address, City or Town Kalispell,
Entity Address, State or Province MT
Entity Address, Postal Zip Code 59901
City Area Code (406)
Local Phone Number 756-4200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol GBCI
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000868671
Amendment Flag false

1 Year Glacier Bancorp Chart

1 Year Glacier Bancorp Chart

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