Glacier Bancorp, Inc. 2026 Annual Meeting Report: Comprehensive Investor Update

Key Highlights from the 2026 Annual Meeting

• Record Financial Performance:
  • Net income reached \$239 million, up 26% from 2024.
  • Surpassed \$30 billion in assets, marking a 14% increase from 2024.
  • Q4 2025 net interest margin (NIM) climbed to 3.58%, up 61 basis points year-over-year.
  • Loans increased by \$3.7 billion (up 21%), and deposits grew by \$4.0 billion (up 20%).
  • Operating diluted EPS for Q4 2025 was \$0.69, compared to \$0.53 in Q4 2024.
  • Operating net income more than doubled from Q1 2024 through Q4 2025.
• Strategic Expansion and M&A Activity:
  • Record year for mergers and acquisitions (M&A), with over \$4.7 billion in acquired assets.
  • Major expansion into Texas via the acquisition of Guaranty Bank & Trust.
  • Acquisitions in 2025 included a bank with \$1.4 billion in assets (Idaho Falls, Idaho) and Guaranty Bank & Trust, with \$3.4 billion in assets (Mount Pleasant, Texas).
• Operational Strengths:
  • Geographically diversified footprint across Mountain West and Southwestern U.S.
  • 18 market-focused community banks, streamlined under one banking charter and technology platform.
  • Centralized risk, compliance, and data governance.
  • Declared 163rd consecutive dividend in December 2025, underscoring strong shareholder returns.
• Best-in-Class Technology & Deposit Franchise:
  • Interest-bearing deposit costs well below peer averages (0.58% Glacier vs. 2.73% peers in 2025).
  • Granular, stable, and diversified deposit base (~685,000 retail accounts, ~171,000 commercial accounts).
  • Limited reliance on wholesale/concentrated funding or any single depositor segment.
• Superior Credit Quality:
  • Net charge-offs as a % of total loans consistently below peers (0.06% for Glacier in 2025).
  • Allowance for credit losses (ACL) stable at ~1.27% of total loans.
  • Non-performing assets (NPAs) as a % of total assets at 0.55% in Q4 2025, also below peers.
• Community Commitment:
  • Over 36,000 hours volunteered with 1,500+ organizations.
  • Originated over \$770 million in community development loans and increased investments by \$62 million.
• Balanced Capital Allocation Strategy:
  • Core focus on M&A, shareholder returns via dividends, and organic growth.
  • 163 consecutive quarterly dividends paid.

Forward-Looking Statements and Potential Risks

The report contains several forward-looking statements. Investors should be aware of the following potential risks and uncertainties that could materially impact Glacier Bancorp’s future performance and share price:

• Risks associated with lending and potential adverse changes in loan portfolio credit quality.
• Changes in monetary and fiscal policies, especially interest rate changes by the Federal Reserve.
• Regulatory changes, including FDIC insurance rates, bank merger regulations, and consumer protection laws.
• Macroeconomic risks such as inflation, trade policy changes, labor/supply chain disruptions, and geopolitical instability (including conflicts in Iran, Ukraine, and the Middle East).
• Risks to business from rapid developments in artificial intelligence technologies.
• Reliance on key personnel, including the CEO, senior management, and division presidents.
• Cybersecurity risks, fraud, system failures, and potential interruptions or breaches in technology.
• Risks related to natural disasters and unexpected events (e.g., droughts, fires, floods, pandemics).
• Public stock market volatility, which could impact the Company’s market price and ability to raise capital or pursue acquisitions.
• Reputational risks stemming from any of the above factors.

Outlook for 2026

Analysts and management are optimistic about Glacier Bancorp’s prospects for 2026:

• Positioned for long-term success with its “company of banks” model.
• Expected to remain active in M&A across its nine-state footprint.
• Greater NIM flexibility anticipated, regardless of Federal Reserve rate cuts, due to asset repricing.
• Strong platform for continued growth, profitability, and shareholder value creation.

Shareholder and Price Sensitive Information

• Strong profit growth and EPS momentum could positively affect share price.
• Record M&A activity and strategic expansion into Texas are likely price-sensitive events.
• Consistent dividends and balance sheet growth reinforce shareholder confidence.
• Superior credit quality and deposit franchise support Glacier’s valuation premium.
• Low deposit costs and diversified funding provide resilience against rising interest rates and competition.
• Risks related to AI, geopolitical instability, and regulatory changes remain watchpoints for investors.

Non-GAAP Financial Measures

The Company presents several non-GAAP financial measures (including Operating Net Income and Operating diluted EPS) to supplement GAAP results. These measures exclude certain income or intangible items to better reflect core business operating results. Investors should review the reconciliation tables in the report to understand the adjustments and differences.

Conclusion

Glacier Bancorp delivered strong performance in 2025, driven by robust profit growth, strategic acquisitions, and operational excellence. The outlook for 2026 remains positive, with ongoing M&A, consistent dividends, and superior credit quality. However, investors should monitor evolving risks, especially those related to economic, regulatory, and technological changes.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Investors should conduct their own due diligence and consult financial advisors before making investment decisions.

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