Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended September 30, 2026

3rd Quarter 2026 Highlights:

Net income was a record $105 million for the current quarter, an increase of $6.7 million, or 7 percent, from the prior quarter net income of $97.9 million and an increase of $36.7 million, or 54 percent, from the prior year third quarter net income of $67.9 million.
Diluted earnings per share for the current quarter was $0.80, an increase of $0.05 per share, or 7 percent, from the prior quarter diluted earnings per share of $0.75 and an increase of $0.23 per share, or 40 percent, from the prior year third quarter diluted earnings per share of $0.57.
Operating diluted earnings per share¹ for the current quarter was $0.81, an increase of $0.05 per share, or 7 percent, from the prior quarter operating diluted earnings per share of $0.76 and an increase of $0.19 per share, or 31 percent, from the prior year third quarter operating diluted earnings per share of $0.62.
Net interest income for the current quarter was $290 million, an increase of $13.5 million, or 5 percent, from the prior quarter net interest income of $276 million and an increase of $65 million, or 29 percent, from the prior year third quarter net interest income of $225 million.
The loan portfolio of $21.620 billion at September 30, 2026, increased $256 million, or 5 percent annualized, from the prior quarter.
Total deposits of $25.273 billion for the current quarter increased $619 million, or 10 percent annualized, from the prior quarter.
Total non-interest bearing deposits of $7.702 billion for the current quarter increased $279 million, or 15 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 4.01 percent, an increase of 11 basis points from the prior quarter net interest margin of 3.90 percent and an increase of 62 basis points from the prior year third quarter net interest margin of 3.39 percent.
The total earning assets yield of 5.23 percent in the current quarter increased 9 basis points from the prior quarter earning assets yield of 5.14 percent and increased 37 basis points from the prior year third quarter earning assets yield of 4.86 percent.
The core deposit cost (including non-interest bearing deposits) of 1.17 percent in the current quarter decreased 1 basis point from the prior quarter core deposit cost of 1.18 percent and decreased 6 basis points from the prior year third quarter core deposit cost of 1.23 percent.
The total cost of funding (including non-interest bearing deposits) of 1.32 percent in the current quarter decreased 1 basis point from the prior quarter total cost of funding of 1.33 percent and decreased 26 basis points from the prior year third quarter total cost of funding of 1.58 percent.
The Company declared a quarterly dividend of $0.35 per share, an increase of $0.02, or 6 percent, over the prior quarter. The Company has declared 166 consecutive quarterly dividends and has increased the dividend 50 times.

Year-to-Date 2026 Highlights:

Net income for the first nine months of 2026 was $285 million, an increase of $109 million, or 62 percent, from the prior year first nine months net income of $175 million.
Diluted earnings per share for the first nine months of 2026 was $2.18, an increase of $0.67 per share, or 44 percent, from the prior year first nine months diluted earnings per share of $1.51.
Operating diluted earnings per share for the first nine months of 2026 was $2.26, an increase of $0.59 per share, or 35 percent, from the prior year first nine months operating diluted earnings per share of $1.67.
Net interest income for the first nine months of 2026 was $835 million, an increase of $212 million, or 34 percent, from the prior year first nine months net interest income of $623 million.
The loan portfolio increased $2.829 billion, or 15 percent, from the prior year third quarter.
Total deposits increased $3.402 billion, or 16 percent, from the prior year third quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first nine months of 2026 was 3.90 percent, an increase of 69 basis points from the prior year first nine months net interest margin of 3.21 percent.
The Company completed the core system conversion of Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”). Guaranty was acquired on October 1, 2025, with total assets of $3.357 billion.
Dividends declared in the first nine months of 2026, were $1.01 per share, an increase of $0.02, or 2 percent, over the prior year first nine months of $0.99 per share.

Financial Summary

	At or for the Three Months ended									At or for the Nine Months ended
(Dollars in thousands, except per share and market data)	Sep 30, 2026			Jun 30, 2026		Mar 31, 2026		Sep 30, 2025		Sep 30, 2026		Sep 30, 2025
Performance results
Net income	$	104,562		97,862		82,144		67,900		284,568		175,249
Basic earnings per share	$	0.80		0.75		0.63		0.57		2.19		1.51
Diluted earnings per share	$	0.80		0.75		0.63		0.57		2.18		1.51
Operating diluted earnings per share (non-GAAP)¹	$	0.81		0.76		0.70		0.62		2.26		1.67
Dividends declared per share	$	0.35		0.33		0.33		0.33		1.01		0.99
Market value per share
Closing	$	43.20		51.58		44.67		48.67		43.20		48.67
High	$	54.58		52.16		53.99		50.54		54.58		52.81
Low	$	43.03		44.26		41.87		42.08		41.87		36.76
Selected ratios and other data
Number of common stock shares outstanding		130,218,983		130,202,054		130,124,378		118,552,847		130,218,983		118,552,847
Average outstanding shares - basic		130,214,868		130,167,496		130,052,858		118,552,231		130,145,667		116,316,754
Average outstanding shares - diluted		130,433,235		130,346,888		130,242,765		118,628,434		130,324,260		116,382,822
Return on average assets (annualized)		1.31	%	1.25	%	1.05	%	0.93	%	1.20	%	0.82	%
Return on average equity (annualized)		9.53	%	9.13	%	7.82	%	7.52	%	8.84	%	6.82	%
Efficiency ratio		56.08	%	56.65	%	63.05	%	62.05	%	58.51	%	63.12	%
Operating efficiency ratio (non-GAAP)¹		55.75	%	56.21	%	59.25	%	58.87	%	57.03	%	61.83	%
Loan to deposit ratio		85.69	%	86.84	%	85.18	%	86.11	%	85.69	%	86.11	%
Number of full time equivalent employees		4,111		4,125		4,139		3,649		4,111		3,649
Number of locations		282		282		282		248		282		248
Number of ATMs		338		339		337		298		338		298

______________________________
¹Represents 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.

KALISPELL, Mont., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $104.6 million for the current quarter, an increase of $6.7 million, or 7 percent, from the prior quarter net income of $97.9 million and an increase of $36.7 million, or 54 percent, from the prior year third quarter net income of $67.9 million. Diluted earnings per share for the current quarter was $0.80, an increase of $0.05 per share, or 7 percent, from the prior quarter diluted earnings per share of $0.75 and an increase of $0.23 per share, or 40 percent, from the prior year third quarter diluted earnings per share of $0.57. Operating diluted earnings per share for the current quarter was $0.81, an increase of $0.05 per share, or 7 percent, from the prior quarter operating diluted earnings per share of $0.76 and an increase of $0.19 per share, or 31 percent, from the prior year third quarter operating diluted earnings per share of $0.62. The current quarter included $1.9 million of compensation from acquisition-related employment agreements and $844 thousand of gains from the sale of former branch facilities and disposal of fixed assets. “Our strong third quarter results clearly demonstrate the power of the Glacier franchise,” said Randy Chesler, President and Chief Executive Officer. “We generated record net income, expanded margin for the eleventh consecutive quarter, increased deposits and delivered solid loan growth. We are well positioned to return to our historical levels of performance as continued balance sheet repricing drives improved profitability and the Glacier franchise continues to grow.”

Net income for the first nine months of 2026 was $285 million, an increase of $110 million, or 63 percent, from the prior year first nine months net income of $175 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 nine months of 2026 was $2.18, an increase of $0.67 per share, or 44 percent, from the prior year first nine months diluted earnings per share of $1.51. Operating diluted earnings per share for the first nine months of 2026 was $2.26, an increase of $0.59 per share, or 35 percent, from the prior year first nine months of 2025 operating diluted earnings per share of $1.67.

Asset Summary

										$ Change from
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Cash and cash equivalents	$	1,506,781		1,056,679		1,235,261		854,244		450,102		271,520		652,537
Debt securities, available-for-sale		3,595,063		3,482,725		4,007,512		3,916,189		112,338		(412,449	)	(321,126	)
Debt securities, held-to-maturity		2,817,933		3,004,758		3,110,216		3,155,901		(186,825	)	(292,283	)	(337,968	)
Total debt securities		6,412,996		6,487,483		7,117,728		7,072,090		(74,487	)	(704,732	)	(659,094	)
Loans receivable¹
Residential real estate		2,104,815		2,111,683		2,457,907		1,926,448		(6,868	)	(353,092	)	178,367
Commercial real estate		14,432,233		14,155,059		13,565,512		12,045,446		277,174		866,721		2,386,787
Other commercial		3,613,414		3,615,240		3,497,829		3,451,177		(1,826	)	115,585		162,237
Home equity		1,050,852		1,054,110		977,206		980,472		(3,258	)	73,646		70,380
Other consumer		418,216		427,631		429,342		387,443		(9,415	)	(11,126	)	30,773
Loans receivable		21,619,530		21,363,723		20,927,796		18,790,986		255,807		691,734		2,828,544
Allowance for credit losses		(259,668	)	(260,025	)	(255,319	)	(229,077	)	357		(4,349	)	(30,591	)
Loans receivable, net		21,359,862		21,103,698		20,672,477		18,561,909		256,164		687,385		2,797,953
Other assets		3,011,165		2,951,141		2,952,597		2,527,384		60,024		58,568		483,781
Total assets	$	32,290,804		31,599,001		31,978,063		29,015,627		691,803		312,741		3,275,177

______________________________
¹In connection with the Guaranty core system conversion, Guaranty loans were reclassified in the first quarter to conform to the Company’s classifications. There were approximately $236 million of loans reclassified from residential loans into other categories, the majority of which were reclassified to commercial real estate loans.

Total debt securities of $6.413 billion at September 30, 2026, decreased $74.5 million, or 1 percent, during the current quarter and decreased $659 million, or 9 percent, from the prior year third quarter. The Company selectively purchased debt securities during the current quarter with the Company’s excess liquidity position. Debt securities represented 20 percent of total assets at September 30, 2026, compared to 21 percent at June 30, 2026, and 24 percent at September 30, 2025.

The loan portfolio of $21.620 billion at September 30, 2026, increased $256 million, or 5 percent annualized, from the prior quarter. The loan portfolio increased $2.829 billion, or 15 percent, from the prior year third quarter. Excluding the Guaranty acquisition on October 1, 2025, the loan portfolio increased $726 million, or 4 percent, from the prior year third quarter.

Credit Quality Summary

	At or for the Nine Months ended			At or for the Six Months ended		At or for the Year ended		At or for the Nine Months ended
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Allowance for credit losses
Balance at beginning of period	$	255,319		255,319		206,041		206,041
Acquisitions		—		—		154		35
Provision for credit losses		19,282		13,639		61,846		29,355
Charge-offs		(18,578	)	(11,562	)	(18,682	)	(11,276	)
Recoveries		3,645		2,629		5,960		4,922
Balance at end of period	$	259,668		260,025		255,319		229,077
Provision for credit losses
Loan portfolio	$	19,282		13,639		61,846		29,355
Unfunded loan commitments		(1,754	)	(1,220	)	9,554		6,382
Total provision for credit losses	$	17,528		12,419		71,400		35,737
Other real estate owned	$	4,882		1,219		284		1,376
Other foreclosed assets		338		322		127		37
Accruing loans 90 days or more past due		17,219		15,867		5,997		7,449
Non-accrual loans		68,202		74,441		62,487		45,450
Total non-performing assets	$	90,641		91,849		68,895		54,312
Non-performing assets as a percentage of subsidiary assets		0.28	%	0.29	%	0.22	%	0.19	%
Allowance for credit losses as a percentage of non-performing loans		304	%	288	%	373	%	433	%
Allowance for credit losses as a percentage of total loans		1.20	%	1.22	%	1.22	%	1.22	%
Net charge-offs as a percentage of total loans		0.07	%	0.04	%	0.06	%	0.03	%
Accruing loans 30-89 days past due	$	58,149		65,483		78,826		39,524
U.S. government guarantees included in non-performing assets	$	4,657		7,497		8,733		10,358

Early stage delinquencies (accruing loans 30-89 days past due) of $58.1 million at September 30, 2026, decreased $7.3 million from the prior quarter and increased $18.6 million from the prior year third quarter. Early stage delinquencies as a percentage of loans at September 30, 2026, were 0.27 percent compared to 0.31 percent for the prior quarter and 0.21 percent for the prior year third quarter. Non-performing assets of $90.6 million at September 30, 2026, decreased $1.2 million, or 1 percent, over the prior quarter and increased $36.3 million, or 67 percent, over the prior year third quarter.

The current quarter provision for credit loss expense of $5.1 million included $5.6 million of credit loss expense on loans and $534 thousand of credit loss benefit on unfunded loan commitments. The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.20 percent at September 30, 2026, compared to 1.22 percent at each of June 30, 2026, December 31, 2025, and September 30, 2025. Loan portfolio growth, composition, credit quality considerations, economic forecasts, actual results, and other environmental factors will continue to determine the level of the ACL on loans.

Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio

(Dollars in thousands)	Provision for Credit Losses Loans		Net Charge-Offs		ACL as a Percent of Loans		Accruing Loans 30-89 Days Past Due as a Percent of Loans		Non-Performing Assets to Total Subsidiary Assets
Third quarter 2026	$	5,643	$	6,000	1.20	%	0.27	%	0.28	%
Second quarter 2026		10,125		5,871	1.22	%	0.31	%	0.29	%
First quarter 2026		3,514		3,062	1.22	%	0.44	%	0.25	%
Fourth quarter 2025		32,491		6,368	1.22	%	0.38	%	0.22	%
Third quarter 2025		5,192		2,914	1.22	%	0.21	%	0.19	%
Second 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	%

Net charge-offs for the current quarter were $6.0 million compared to $5.9 million in the prior quarter and $2.9 million for the prior year third quarter. The current quarter net charge-offs included $3.5 million in deposit overdraft net charge-offs and $2.5 million 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 tables 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)	Sep 30, 2026		Jun 30, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Deposits
Non-interest bearing deposits	$	7,702,429	7,423,439	7,314,779	6,674,441	278,990		387,650		1,027,988
NOW and DDA accounts		6,139,924	6,192,363	6,236,551	5,805,816	(52,439	)	(96,627	)	334,108
Savings accounts		3,225,270	3,169,141	3,158,939	3,049,753	56,129		66,331		175,517
Money market deposit accounts		4,458,524	4,132,820	3,948,201	3,137,810	325,704		510,323		1,320,714
Certificate accounts		3,743,285	3,732,971	3,928,550	3,199,825	10,314		(185,265	)	543,460
Core deposits, total		25,269,432	24,650,734	24,587,020	21,867,645	618,698		682,412		3,401,787
Wholesale deposits		3,305	3,383	4,076	3,304	(78	)	(771	)	1
Deposits, total		25,272,737	24,654,117	24,591,096	21,870,949	618,620		681,641		3,401,788
Repurchase agreements		1,954,925	1,952,501	2,084,113	2,004,286	2,424		(129,188	)	(49,361	)
Deposits and repurchase agreements, total		27,227,662	26,606,618	26,675,209	23,875,235	621,044		552,453		3,352,427
Federal Home Loan Bank advances		—	—	440,000	895,022	—		(440,000	)	(895,022	)
Other borrowed funds		51,744	52,880	51,473	59,779	(1,136	)	271		(8,035	)
Finance lease liabilities		30,559	31,606	28,808	18,401	(1,047	)	1,751		12,158
Subordinated debentures		174,113	188,573	187,492	157,379	(14,460	)	(13,379	)	16,734
Other liabilities		466,865	406,302	381,260	401,523	60,563		85,605		65,342
Total liabilities	$	27,950,943	27,285,979	27,764,242	25,407,339	664,964		186,701		2,543,604

Total deposits of $25.273 billion at September 30, 2026, increased $619 million, or 10 percent annualized, during the current quarter and increased $3.402 billion, or 16 percent, from the prior year third quarter. Excluding a temporary quarter-end deposit expected to largely exit in the fourth quarter, total deposits increased $308 million, or 5 percent annualized, from the prior quarter. Excluding the Guaranty acquisition, total deposits increased $695 million, or 3 percent, from the prior year third quarter.

Non-interest bearing deposits of $7.702 billion at September 30, 2026, increased $279 million, or 15 percent annualized, during the current quarter and increased $1.028 billion, or 15 percent, from the prior year third quarter. Excluding the impact of the temporary quarter-end deposit, non-interest bearing deposits increased $197 million, or 11 percent annualized, from the prior quarter. Non-interest bearing deposits represented 30 percent of total deposits at each of September 30, 2026, and June 30, 2026, compared to 31 percent at September 30, 2025.

Stockholders’ Equity Summary

										$ Change from
(Dollars in thousands, except per share data)	Sep 30, 2026			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Common equity	$	4,546,197		4,484,316		4,380,931		3,801,178		61,881		165,266		745,019
Accumulated other comprehensive loss		(206,336	)	(171,294	)	(167,110	)	(192,890	)	(35,042	)	(39,226	)	(13,446	)
Total stockholders’ equity		4,339,861		4,313,022		4,213,821		3,608,288		26,839		126,040		731,573
Goodwill and intangibles, net		(1,469,156	)	(1,473,954	)	(1,483,552	)	(1,182,536	)	4,798		14,396		(286,620	)
Tangible stockholders’ equity (non-GAAP)¹	$	2,870,705		2,839,068		2,730,269		2,425,752		31,637		140,436		444,953

Stockholders’ equity to total assets		13.44	%	13.65	%	13.18	%	12.44	%
Tangible stockholders’ equity to total tangible assets (non-GAAP)¹		9.31	%	9.42	%	8.95	%	8.72	%
Book value per common share	$	33.33		33.13		32.42		30.44		0.20		0.91		2.89
Tangible book value per common share (non-GAAP)¹	$	22.05		21.81		21.01		20.46		0.24		1.04		1.59

Tangible stockholders’ equity of $2.871 billion at September 30, 2026, increased $31.6 million, or 1 percent, compared to the prior quarter, primarily due to earnings retention. Tangible stockholders’ equity increased $445 million, or 18 percent, from the prior year third quarter, primarily due to $560 million of Company stock issued in connection with the Guaranty acquisition and earnings retention. The increase was partially offset by the increase in goodwill and core deposit intangible associated with the Guaranty acquisition. Tangible book value per common share of $22.05 at the current quarter end increased $0.24 per share, or 1 percent, from the prior quarter and increased $1.59 per share, or 8 percent, from the prior year third quarter.

Cash Dividends
On September 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.35 per share, an increase of $0.02, or 6 percent, over the prior quarter. The dividend was payable on October 15, 2026, to shareholders of record on October 6, 2026. The dividend was the Company’s 166th 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 September 30, 2026
Compared to June 30, 2026, March 31, 2026, and September 30, 2025

Income Summary

	Three Months ended									$ Change from
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026		Mar 31, 2026		Sep 30, 2025		Jun 30, 2026		Mar 31, 2026		Sep 30, 2025
Net interest income
Interest income	$	379,980		365,220		362,337		325,003		14,760		17,643		54,977
Interest expense		90,084		88,792		93,660		99,624		1,292		(3,576	)	(9,540	)
Total net interest income		289,896		276,428		268,677		225,379		13,468		21,219		64,517
Non-interest income
Deposit service charges and other fees		17,187		16,351		15,265		14,676		836		1,922		2,511
Payment services		12,081		12,012		11,368		10,951		69		713		1,130
Miscellaneous loan fees and charges		2,585		2,558		2,279		2,005		27		306		580
Gain on sale of loans		4,754		5,007		5,108		5,027		(253	)	(354	)	(273	)
Other income		3,334		5,173		4,062		2,693		(1,839	)	(728	)	641
Total non-interest income		39,941		41,101		38,082		35,352		(1,160	)	1,859		4,589
Total income	$	329,837		317,529		306,759		260,731		12,308		23,078		69,106
Net interest margin (tax-equivalent)		4.01	%	3.90	%	3.80	%	3.39	%
Core net interest margin (tax-equivalent) (non-GAAP)¹		3.95	%	3.86	%	3.73	%	3.35	%

Net Interest Income
Net interest income of $290 million for the current quarter increased $13.5 million, or 5 percent, from the prior quarter net interest income of $276 million and increased $64.5 million, or 29 percent, from the prior year third quarter net interest income of $225 million. The current quarter interest income of $380 million increased $14.8 million, or 4 percent, over the prior quarter and increased $55.0 million, or 17 percent, over the prior year third quarter and was primarily driven by both increased loans and increased interest rates on the loan portfolio. The loan yield of 6.22 percent in the current quarter increased 10 basis points from the prior quarter loan yield of 6.12 percent and increased 25 basis points from the prior year third quarter loan yield of 5.97 percent.

The current quarter interest expense of $90.1 million increased $1.3 million, or 1 percent, from the prior quarter. Interest expense decreased $9.5 million, or 10 percent, from the prior year third quarter primarily due to a decrease in interest rates on deposits and a decrease in high cost borrowings. Core deposit cost (including non-interest bearing deposits) decreased to 1.17 percent in the current quarter compared to 1.18 percent in the prior quarter and 1.23 percent in the prior year third quarter. The total funding cost (including non-interest bearing deposits) decreased to 1.32 percent in the current quarter compared to 1.33 percent in the prior quarter and 1.58 percent in the prior year third quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 4.01 percent, an increase of 11 basis points from the prior quarter net interest margin of 3.90 percent and was primarily driven by an increase in earning asset yields and a decrease in deposit costs. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter increased 62 basis points from the prior year third quarter net interest margin of 3.39 percent and was primarily driven by the increase in loan yields, the shift in the earning assets mix to higher yielding loans and the decrease in high cost borrowings. Core net interest margin was 3.95 percent in the current quarter compared to 3.86 percent in the prior quarter and 3.35 percent in the prior year third quarter. “The increase in both the net interest income and net interest margin during the current quarter reflects the continued increase in earning assets at higher yields combined with the increase in core deposits at lower costs (including non-interest bearing deposits),” said Ron Copher, Chief Financial Officer. “Over the last eleven consecutive quarters, net interest income has increased from $166 million to $290 million, or 75 percent, with the net interest margin increasing from 2.56 percent to 4.01 percent, or 57 percent.”

Non-interest Income
Non-interest income for the current quarter totaled $39.9 million, which was a decrease of $1.2 million, or 3 percent, over the prior quarter. Non-interest income increased $4.6 million, or 13 percent, over the prior year third quarter. Deposit service charges and other fees of $17.2 million for the current quarter increased $836 thousand, or 5 percent, compared to the prior quarter and increased $2.5 million, or 17 percent, from the prior year third quarter. Payment services of $12.1 million for the current quarter increased $69 thousand, or 1 percent, from the prior quarter and increased $1.1 million, or 10 percent, over the prior year third quarter.

Non-interest Expense Summary

	Three Months ended					$ Change from
(Dollars in thousands)	Sep 30, 2026		Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2026		Mar 31, 2026		Sep 30, 2025
Compensation and employee benefits	$	120,661	116,299	115,770	96,498	4,362		4,891		24,163
Occupancy and equipment		16,072	15,661	15,682	13,236	411		390		2,836
Advertising and promotions		5,085	5,092	5,256	4,620	(7	)	(171	)	465
Data processing		12,240	12,380	13,273	10,634	(140	)	(1,033	)	1,606
Other real estate owned and foreclosed assets		98	83	206	63	15		(108	)	35
Regulatory assessments and insurance		5,054	5,506	6,403	5,799	(452	)	(1,349	)	(745	)
Intangibles amortization		4,798	4,799	4,799	3,813	(1	)	(1	)	985
Other expenses		27,876	26,880	39,140	33,120	996		(11,264	)	(5,244	)
Total non-interest expense	$	191,884	186,700	200,529	167,783	5,184		(8,645	)	24,101

Total non-interest expense of $192 million for the current quarter increased $5.2 million, or 3 percent, over the prior quarter. Total non-interest expense increased $24.1 million, or 14 percent, over the prior year third quarter and was primarily driven by increased costs from the acquired banks.

Compensation and employee benefits of $121 million for the current quarter increased by $4.4 million, or 4 percent, over the prior quarter, primarily due to increased performance-based compensation. Compensation and employee benefits increased $24.2 million, or 25 percent, from the prior year third quarter and was primarily driven by annual salary increases and increases in staffing levels from the acquired banks. Other expenses of $27.9 million decreased $5.2 million, or 16 percent, from the prior year third quarter and was primarily driven by $6.9 million of decreased acquisition-related expenses.

Acquisition-related expense was $92 thousand in the current quarter compared to $1.6 million in the prior quarter and $7.0 million in the prior year third quarter. In addition, compensation and employee benefits included $1.9 million of expense attributable to acquisition-related employment agreements in the current quarter compared to $2.5 million in the prior quarter and $641 thousand in the prior year third quarter.

Federal and State Income Tax Expense
Tax expense during the third quarter of 2026 was $28.3 million, an increase of $1.7 million, or 6 percent, compared to the prior quarter and an increase of $10.9 million, or 63 percent, from the prior year third quarter. The effective tax rate in the current quarter was 21.3 percent, compared to 21.4 percent in the prior quarter and 20.4 percent in the prior year third quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior year third quarter was primarily due to an increase in pre-tax income.

Efficiency Ratio
The efficiency ratio was 56.08 percent in the current quarter compared to 56.65 percent in the prior quarter and 62.05 percent in the prior year third quarter. The decrease from the prior quarter and prior year third quarter was primarily driven by an increase in net interest income which outpaced the increase in non-interest expense.

Operating Results for Nine Months. Ended September 30, 2026
Compared to September 30, 2025

Income Summary

	Nine Months ended
(Dollars in thousands)	Sep 30, 2026			Sep 30, 2025			$ Change			% Change
Net interest income
Interest income	$	1,107,537		$	923,043		$	184,494		20	%
Interest expense		272,536			300,069			(27,533	)	(9	)%
Total net interest income		835,001			622,974			212,027		34	%
Non-interest income
Deposit service charges and other fees		48,803			41,801			7,002		17	%
Payment Services		35,461			30,736			4,725		15	%
Miscellaneous loan fees and charges		7,422			5,586			1,836		33	%
Gain on sale of loans		14,869			13,611			1,258		9	%
Other income		12,569			9,204			3,365		37	%
Total non-interest income		119,124			100,938			18,186		18	%
Total Income	$	954,125		$	723,912		$	230,213		32	%
Net interest margin (tax-equivalent)		3.90	%		3.21	%
Core net interest margin (tax-equivalent) (non-GAAP)¹		3.85	%		3.17	%

Net Interest Income
Net interest income of $835 million for the first nine months of 2026 increased $212 million, or 34 percent, from the first nine months of the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $1.108 billion for the first nine months of 2026 increased $184 million, or 20 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 6.17 percent during the first nine months of 2026, an increase of 30 basis points from the prior year first nine months loan yield of 5.87 percent.

Interest expense of $273 million for the first nine months of 2026 decreased $27.5 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 1.18 percent for the first nine months of 2026, which was a decrease of 6 basis points over the first nine months of the prior year core deposit cost of 1.24 percent. The total funding cost (including non-interest bearing deposits) for the first nine months of 2026 was 1.35 percent, which was a decrease of 28 basis points over the first nine months of the prior year funding cost of 1.63 percent.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first nine months of 2026 was 3.90 percent, a 69 basis points increase from the net interest margin of 3.21 percent for the first nine months of the prior year. Core net interest margin during the first nine months of 2026 was 3.85 percent compared to 3.17 percent in the prior year first nine months. The increase in net interest margin from the prior year was primarily driven by a 30 basis points increase in loan yields and a 28 basis points decrease in total 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 Income
Non-interest income of $119 million for the first nine months of 2026 increased $18.2 million, or 18 percent, over the first nine months of the prior year and was primarily driven by increased income from the acquired banks. Deposit service charges and other fees of $48.8 million for the first nine months of 2026 increased $7.0 million, or 17 percent, over the first nine months of the prior year. Payment services of $35.5 million for the first nine months of 2026 increased by $4.7 million, or 15 percent, over the first nine months of the prior year.

Non-interest Expense Summary

	Nine Months ended
(Dollars in thousands)	Sep 30, 2026		Sep 30, 2025		$ Change			% Change
Compensation and employee benefits	$	352,730	$	282,296	$	70,434		25	%
Occupancy and equipment		47,415		38,088		9,327		24	%
Advertising and promotions		15,433		13,158		2,275		17	%
Data processing		37,893		29,655		8,238		28	%
Other real estate owned and foreclosed assets		387		152		235		155	%
Regulatory assessments and insurance		16,963		17,180		(217	)	(1	)%
Core deposit intangibles amortization		14,396		10,707		3,689		34	%
Other expenses		93,896		82,984		10,912		13	%
Total non-interest expense	$	579,113	$	474,220	$	104,893		22	%

Total non-interest expense of $579 million for the first nine months of 2026 increased $105 million, or 22 percent, over the first nine months of the prior year and was primarily driven by increased costs from the acquired banks. Compensation and employee benefits expense of $353 million in the first nine months of 2026 increased $70.4 million, or 25 percent, over the first nine months of the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Occupancy and equipment expense of $47.4 million in the first nine months of 2026 increased $9.3 million, or 24 percent, over the first nine months of the prior year primarily due to increased costs from the acquired banks. Data processing expense of $37.9 million in the first nine months of 2026 increased $8.2 million, or 28 percent, over the first nine months of the prior year primarily due to increased costs from the acquired banks. Other expenses of $93.9 million for the first nine months of 2026 increased $10.9 million, or 13 percent, from the first nine months of the prior year and was primarily driven by an increase in costs from acquisitions.

Acquisition-related expense was $10.6 million in the first nine months of the current year compared to $10.8 million in the prior year first nine months. In addition, compensation and employee benefits included $7.1 million of expense attributable to acquisition-related employment agreements in the first nine months of the current year compared to $1.4 million in the first nine months of the prior year.

Provision for Credit Losses
The provision for credit loss expense was $17.5 million for the first nine months of 2026, a decrease of $18.2 million, or 51 percent, over the same period in the prior year. Included in the first nine months of the prior year provision for credit losses was $16.7 million from the acquisition of Bank of Idaho Holding Co. and its subsidiary, Bank of Idaho. Net charge-offs for the first nine months of 2026 were $14.9 million compared to $6.4 million in the first nine months of 2025.

Federal and State Income Tax Expense
Tax expense of $72.9 million for the first nine months of 2026 increased $34.2 million, or 88 percent, over the same period in the prior year. The effective tax rate for the first nine months of 2026 was 20.4 percent compared to 18.1 percent for the same period in the prior year. The increases in tax expense and the effective tax rate were primarily the result of an increase in the pre-tax income.

Efficiency Ratio
The efficiency ratio was 58.51 percent for the first nine months of 2026 compared to 63.12 percent for the same period of 2025. 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 Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “will,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:

risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
legislative or regulatory changes, including 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;
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.

The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.

Conference Call Information
A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, October 23, 2026. 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/BIf897ad06750d4ea68674bf70f03fbe10. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/xhafbtnc.

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 nine state 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), Guaranty Bank & Trust (Mount Pleasant, TX), 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).

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 press release. 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.


Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition

(Dollars in thousands, except per share data)	Sep 30, 2026			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Assets
Cash on hand and in banks	$	290,640		353,748		321,526		312,506
Interest bearing cash deposits		1,216,141		702,931		913,735		541,738
Cash and cash equivalents		1,506,781		1,056,679		1,235,261		854,244
Debt securities, available-for-sale		3,595,063		3,482,725		4,007,512		3,916,189
Debt securities, held-to-maturity		2,817,933		3,004,758		3,110,216		3,155,901
Total debt securities		6,412,996		6,487,483		7,117,728		7,072,090
Loans held for sale, at fair value		37,611		45,145		39,186		42,668
Loans receivable		21,619,530		21,363,723		20,927,796		18,790,986
Allowance for credit losses		(259,668	)	(260,025	)	(255,319	)	(229,077	)
Loans receivable, net		21,359,862		21,103,698		20,672,477		18,561,909
Premises and equipment, net		497,590		493,497		486,184		427,271
Right-of-use assets, net		73,983		76,428		75,574		54,502
Other real estate owned and foreclosed assets		5,220		1,541		411		1,413
Accrued interest receivable		131,863		120,254		120,092		120,257
Deferred tax asset		115,077		102,902		101,337		99,702
Intangibles, net		90,873		95,671		105,269		61,135
Goodwill		1,378,283		1,378,283		1,378,283		1,121,401
Federal Home Loan Bank stock, at cost		21,305		21,244		42,764		61,362
Bank-owned life insurance		237,496		235,984		235,090		191,996
Other assets		421,864		380,192		368,407		345,677
Total assets	$	32,290,804		31,599,001		31,978,063		29,015,627
Liabilities
Non-interest bearing deposits	$	7,702,429		7,423,439		7,314,779		6,674,441
Interest bearing deposits		17,570,308		17,230,678		17,276,317		15,196,508
Securities sold under agreements to repurchase		1,954,925		1,952,501		2,084,113		2,004,286
FHLB advances		—		—		440,000		895,022
Other borrowed funds		51,744		52,880		51,473		59,779
Finance lease liabilities		30,559		31,606		28,808		18,401
Subordinated debentures		174,113		188,573		187,492		157,379
Accrued interest payable		32,871		29,542		32,786		27,733
Operating lease liabilities		50,039		51,320		52,869		41,367
Other liabilities		383,955		325,440		295,605		332,423
Total liabilities		27,950,943		27,285,979		27,764,242		25,407,339
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		1,302		1,302		1,300		1,186
Paid-in capital		3,232,684		3,229,635		3,220,064		2,657,469
Retained earnings - substantially restricted		1,312,211		1,253,379		1,159,567		1,142,523
Accumulated other comprehensive loss		(206,336	)	(171,294	)	(167,110	)	(192,890	)
Total stockholders’ equity		4,339,861		4,313,022		4,213,821		3,608,288
Total liabilities and stockholders’ equity	$	32,290,804		31,599,001		31,978,063		29,015,627


Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations

	Three Months ended					Nine Months ended
(Dollars in thousands)	September 30, 2026		June 30, 2026	March 31, 2026	September 30, 2025	September 30, 2026	September 30, 2025
Interest Income
Investment securities	$	44,964	42,890	45,126	45,348	132,980	135,142
Residential real estate loans		29,655	30,104	33,708	26,335	93,467	75,971
Commercial loans		279,000	266,123	258,616	228,363	803,739	640,567
Consumer and other loans		26,361	26,103	24,887	24,957	77,351	71,363
Total interest income		379,980	365,220	362,337	325,003	1,107,537	923,043
Interest Expense
Deposits		72,861	71,972	72,251	67,346	217,084	195,780
Securities sold under agreements to repurchase		13,582	13,227	13,619	14,706	40,428	42,548
Federal Home Loan Bank advances		—	—	4,226	14,271	4,226	52,796
Other borrowed funds		459	455	443	385	1,357	1,187
Subordinated debentures		3,182	3,138	3,121	2,916	9,441	7,758
Total interest expense		90,084	88,792	93,660	99,624	272,536	300,069
Net Interest Income		289,896	276,428	268,677	225,379	835,001	622,974
Provision for credit losses		5,109	6,355	6,064	7,656	17,528	35,737
Net interest income after provision for credit losses		284,787	270,073	262,613	217,723	817,473	587,237
Non-Interest Income
Deposit service charges and other fees		17,187	16,351	15,265	14,676	48,803	41,801
Payment services		12,081	12,012	11,368	10,951	35,461	30,736
Miscellaneous loan fees and charges		2,585	2,558	2,279	2,005	7,422	5,586
Gain on sale of loans		4,754	5,007	5,108	5,027	14,869	13,611
Gain (loss) on sale of securities		—	—	—	—	—	—
Other income		3,334	5,173	4,062	2,693	12,569	9,204
Total non-interest income		39,941	41,101	38,082	35,352	119,124	100,938
Non-Interest Expense
Compensation and employee benefits		120,661	116,299	115,770	96,498	352,730	282,296
Occupancy and equipment		16,072	15,661	15,682	13,236	47,415	38,088
Advertising and promotions		5,085	5,092	5,256	4,620	15,433	13,158
Data processing		12,240	12,380	13,273	10,634	37,893	29,655
Other real estate owned and foreclosed assets		98	83	206	63	387	152
Regulatory assessments and insurance		5,054	5,506	6,403	5,799	16,963	17,180
Intangibles amortization		4,798	4,799	4,799	3,813	14,396	10,707
Other expenses		27,876	26,880	39,140	33,120	93,896	82,984
Total non-interest expense		191,884	186,700	200,529	167,783	579,113	474,220
Income Before Income Taxes		132,844	124,474	100,166	85,292	357,484	213,955
Federal and state income tax expense		28,282	26,612	18,022	17,392	72,916	38,706
Net Income	$	104,562	97,862	82,144	67,900	284,568	175,249


Glacier Bancorp, Inc. Non-GAAP Financial Measures and Reconciliations

(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026			Dec 31, 2025			Sep 30, 2025
Tangible Equity
Total stockholders’ equity	$	4,339,861			4,313,022			4,213,821			3,608,288
Less: goodwill and intangible assets, net		(1,469,156	)		(1,473,954	)		(1,483,552	)		(1,182,536	)
Tangible stockholders' equity (non-GAAP)	$	2,870,705			2,839,068			2,730,269			2,425,752

Tangible Assets
Total assets	$	32,290,804			31,599,001			31,978,063			29,015,627
Less: goodwill and intangible assets, net		(1,469,156	)		(1,473,954	)		(1,483,552	)		(1,182,536	)
Tangible assets (non-GAAP)	$	30,821,648			30,125,047			30,494,511			27,833,091

Tangible equity to tangible assets (non-GAAP)		9.31	%		9.42	%		8.95	%		8.72	%
Book value per share	$	33.33		$	33.13		$	32.42		$	30.44
Tangible book value per share (non-GAAP)	$	22.05		$	21.81		$	21.01		$	20.46

	At or for the Three Months ended									At or for the Nine Months ended
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026		Mar 31, 2026		Sep 30, 2025		Sep 30, 2026		Sep 30, 2025
Core Net Interest Margin
Net interest income (tax equivalent)¹	$	293,484		280,016		272,383		228,835		845,883		633,317
Purchase accounting		(4,122	)	(3,832	)	(5,140	)	(2,310	)	(13,095	)	(7,774	)
Non-accrual loan interest reversal (recovery)		130		825		(42	)	(104	)	914		100
Core net interest income (tax equivalent) (non-GAAP)	$	289,492		277,009		267,201		226,421		833,702		625,643

Average earning assets	$	29,069,918		28,793,343		29,078,665		26,815,927		28,980,610		26,353,065

Net interest margin (tax equivalent)		4.01	%	3.90	%	3.80	%	3.39	%	3.90	%	3.21	%
Core net interest margin (tax equivalent) (non-GAAP)		3.95	%	3.86	%	3.73	%	3.35	%	3.85	%	3.17	%

______________________________

¹Includes tax effect of $3.6 million, $3.6 million $3.7 million and $3.5 million on tax-exempt municipal loan and lease income, tax-exempt debt securities income and federal income tax credits for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, and September 30, 2025, respectively. Includes tax effect of $10.9 million and $10.3 million on tax-exempt municipal loan and lease income, tax-exempt debt securities income and federal income tax credits for the nine months ended September 30, 2026, and September 30, 2025, respectively.


Glacier Bancorp, Inc. Non-GAAP Financial Measures and Reconciliations (continued)

	At or for the Three Months ended												At or for the Nine Months ended
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Sep 30, 2025			Sep 30, 2026			Sep 30, 2025
Operating Diluted Earnings Per Share
Net income	$	104,562			97,862			82,144			67,900			284,568			175,249
Provision for credit losses - acquisition ACL expense		—			—			—			—			—			16,693
Operating adjustments - non-interest income
BOLI proceeds		—			(63	)		(776	)		(251	)		(839	)		(1,364	)
Total operating adjustments - non-interest income		—			(63	)		(776	)		(251	)		(839	)		(1,364	)
Operating adjustments - non-interest expense
Acquisition-related compensation		1,874			2,462			2,775			641			7,110			1,436
Lease terminations		—			—			200			—			200			—
FDIC special assessment		—			—			(87	)		—			(87	)		(219	)
(Gain) loss on fixed assets		(844	)		(2,618	)		445			928			(3,017	)		(1,694	)
Acquisition-related expense		92			1,590			8,907			6,976			10,589			10,793
Total operating adjustments - non-interest expense		1,122			1,434			12,240			8,545			14,795			10,316
Tax impact		(278	)		(341	)		(3,028	)		(2,121	)		(3,647	)		(6,553	)
Net operating adjustments		844			1,030			8,436			6,173			10,309			19,092
Operating net income (non-GAAP)	$	105,406			98,892			90,580			74,073			294,877			194,341

Weighted average diluted common shares outstanding		130,433,235			130,346,888			130,242,765			118,628,434			130,324,260			116,382,822
Diluted EPS	$	0.80		$	0.75		$	0.63		$	0.57		$	2.18		$	1.51
Operating diluted EPS (non-GAAP)	$	0.81		$	0.76		$	0.70		$	0.62		$	2.26		$	1.67


Glacier Bancorp, Inc. Non-GAAP Financial Measures and Reconciliations (continued)

	At or for the Three Months ended												At or for the Nine Months ended
(Dollars in thousands)	September 30, 2026			June 30, 2026			March 31, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Operating Efficiency Ratio
Non-interest expense	$	191,884		$	186,700		$	200,529		$	167,783		$	579,113		$	474,220
OREO expense		(91	)		(60	)		(16	)		(65	)		(168	)		(97	)
Intangible amortization		(4,798	)		(4,799	)		(4,799	)		(3,813	)		(14,396	)		(10,707	)
Total expenses		186,995			181,841			195,714			163,905			564,549			463,416
Operating expense adjustments (pre-tax)		(1,122	)		(1,434	)		(12,240	)		(8,545	)		(14,795	)		(10,316	)
Total operating non-interest expense (non-GAAP)		185,873			180,407			183,474			155,360			549,754			453,100
Net interest income (tax equivalent)		293,484			280,016			272,383			228,835			845,883			633,317
Non-interest income		39,941			41,101			38,082			35,352			119,124			100,938
OREO income		(7	)		(110	)		(35	)		(35	)		(152	)		(35	)
Total revenues		333,418			321,007			310,430			264,152			964,855			734,220
Operating revenue adjustments (pre-tax)		—			(63	)		(776	)		(251	)		(839	)		(1,364	)
Total revenues (non-GAAP)	$	333,418			320,944			309,654			263,901			964,016			732,856

Efficiency ratio		56.08	%		56.65	%		63.05	%		62.05	%		58.51	%		63.12	%
Efficiency ratio (non-GAAP)		55.75	%		56.21	%		59.25	%		58.87	%		57.03	%		61.83	%


Glacier Bancorp, Inc. Average Balance Sheets

	Three Months ended
	September 30, 2026						June 30, 2026
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	2,118,156	$	29,655	5.60	%	$	2,172,055	$	30,104	5.54	%
Commercial loans¹		17,879,132		280,597	6.23	%		17,562,322		267,705	6.11	%
Consumer and other loans		1,476,570		26,361	7.08	%		1,479,518		26,103	7.08	%
Total loans²		21,473,858		336,613	6.22	%		21,213,895		323,912	6.12	%
Tax-exempt debt securities³		1,604,570		14,127	3.52	%		1,624,487		14,246	3.51	%
Taxable debt securities^{4, 5}		5,991,490		32,828	2.19	%		5,954,961		30,650	2.06	%
Total earning assets		29,069,918		383,568	5.23	%		28,793,343		368,808	5.14	%
Goodwill and intangibles		1,471,485						1,476,292
Non-earning assets		1,229,424						1,201,401
Total assets	$	31,770,827					$	31,471,036
Liabilities
Non-interest bearing deposits	$	7,535,227	$	—	—	%	$	7,298,710	$	—	—	%
NOW and DDA accounts		6,135,597		16,128	1.04	%		6,206,979		16,103	1.04	%
Savings accounts		3,198,811		5,768	0.72	%		3,170,155		5,451	0.69	%
Money market deposit accounts		4,150,413		21,397	2.05	%		4,052,361		20,154	1.99	%
Certificate accounts		3,720,634		29,537	3.15	%		3,807,368		30,233	3.18	%
Total core deposits		24,740,682		72,830	1.17	%		24,535,573		71,941	1.18	%
Wholesale deposits⁶		3,224		31	3.81	%		3,337		31	3.77	%
Repurchase agreements		2,002,455		13,582	2.69	%		1,995,035		13,227	2.66	%
FHLB advances		—		—	—	%		55		—	3.87	%
Subordinated debentures and other borrowed funds		272,160		3,641	5.31	%		271,589		3,593	5.31	%
Total funding liabilities		27,018,521		90,084	1.32	%		26,805,589		88,792	1.33	%
Other liabilities		399,951						364,792
Total liabilities		27,418,472						27,170,381
Stockholders’ Equity
Stockholders’ equity		4,352,355						4,300,655
Total liabilities and stockholders’ equity	$	31,770,827					$	31,471,036
Net interest income (tax-equivalent)			$	293,484					$	280,016
Net interest spread (tax-equivalent)					3.91	%					3.81	%
Net interest margin (tax-equivalent)					4.01	%					3.90	%

______________________________

¹Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2026, and June 30, 2026, 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 $1.9 million and $1.9 million on tax-exempt debt securities income for the three months ended September 30, 2026, and June 30, 2026, respectively.
⁴ Includes interest income of $7.2 million and $7.0 million on average interest-bearing cash balances of $765.3 million and $772.3 million for the three months ended September 30, 2026, and June 30, 2026, respectively.
⁵Includes tax effect of $69 thousand and $68 thousand on federal income tax credits for the three months ended September 30, 2026, and June 30, 2026, 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
	September 30, 2026						September 30, 2025
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	2,118,156	$	29,655	5.60	%	$	1,962,831	$	26,335	5.37	%
Commercial loans¹		17,879,132		280,597	6.23	%		15,351,367		229,915	5.94	%
Consumer and other loans		1,476,570		26,361	7.08	%		1,363,996		24,957	7.26	%
Total loans²		21,473,858		336,613	6.22	%		18,678,194		281,207	5.97	%
Tax-exempt debt securities³		1,604,570		14,127	3.52	%		1,583,554		14,068	3.55	%
Taxable debt securities^{4, 5}		5,991,490		32,828	2.19	%		6,554,179		33,185	2.03	%
Total earning assets		29,069,918		383,568	5.23	%		26,815,927		328,460	4.86	%
Goodwill and intangibles		1,471,485						1,184,370
Non-earning assets		1,229,424						987,070
Total assets	$	31,770,827					$	28,987,367
Liabilities
Non-interest bearing deposits	$	7,535,227	$	—	—	%	$	6,550,398	$	—	—	%
NOW and DDA accounts		6,135,597		16,128	1.04	%		5,734,329		16,483	1.14	%
Savings accounts		3,198,811		5,768	0.72	%		2,995,538		5,843	0.77	%
Money market deposit accounts		4,150,413		21,397	2.05	%		3,136,019		16,783	2.12	%
Certificate accounts		3,720,634		29,537	3.15	%		3,217,199		28,195	3.48	%
Total core deposits		24,740,682		72,830	1.17	%		21,633,483		67,304	1.23	%
Wholesale deposits⁶		3,224		31	3.81	%		3,649		42	4.48	%
Repurchase agreements		2,002,455		13,582	2.69	%		1,986,620		14,706	2.94	%
FHLB advances		—		—	—	%		1,192,493		14,271	4.68	%
Subordinated debentures and other borrowed funds		272,160		3,641	5.31	%		236,375		3,301	5.54	%
Total funding liabilities		27,018,521		90,084	1.32	%		25,052,620		99,624	1.58	%
Other liabilities		399,951						353,452
Total liabilities		27,418,472						25,406,072
Stockholders’ Equity
Stockholders’ equity		4,352,355						3,581,295
Total liabilities and stockholders’ equity	$	31,770,827					$	28,987,367
Net interest income (tax-equivalent)			$	293,484					$	228,836
Net interest spread (tax-equivalent)					3.91	%					3.28	%
Net interest margin (tax-equivalent)					4.01	%					3.39	%

______________________________

¹Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2026, and 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 $1.9 million and $1.8 million on tax-exempt debt securities income for the three months ended September 30, 2026, and 2025, respectively.
⁴Includes interest income of $7.2 million and $6.7 million on average interest-bearing cash balances of $765.3 million and $600.3 million for the three months ended September 30, 2026, and 2025, respectively.
⁵Includes tax effect of $69 thousand and $150 thousand on federal income tax credits for the three months ended September 30, 2026, and 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)

	Nine Months ended
	September 30, 2026						September 30, 2025
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	2,216,004	$	93,467	5.62	%	$	1,929,897	$	75,971	5.25	%
Commercial loans¹		17,551,741		808,589	6.16	%		14,780,437		645,221	5.84	%
Consumer and other loans		1,460,770		77,351	7.08	%		1,334,462		71,363	7.15	%
Total loans²		21,228,515		979,407	6.17	%		18,044,796		792,555	5.87	%
Tax-exempt debt securities³		1,625,399		42,825	3.51	%		1,594,355		42,003	3.51	%
Taxable debt securities^{4, 5}		6,126,696		96,187	2.09	%		6,713,914		98,828	1.96	%
Total earning assets		28,980,610		1,118,419	5.16	%		26,353,065		933,386	4.74	%
Goodwill and intangibles		1,476,286						1,146,519
Non-earning assets		1,211,434						918,154
Total assets	$	31,668,330					$	28,417,738
Liabilities
Non-interest bearing deposits	$	7,355,903	$	—	—	%	$	6,267,432	$	—	—	%
NOW and DDA accounts		6,169,973		48,128	1.04	%		5,645,862		47,593	1.13	%
Savings accounts		3,177,733		16,719	0.70	%		2,921,024		16,404	0.75	%
Money market deposit accounts		4,056,148		60,629	2.00	%		2,996,375		45,698	2.04	%
Certificate accounts		3,807,656		91,512	3.21	%		3,193,843		85,937	3.60	%
Total core deposits		24,567,413		216,988	1.18	%		21,024,536		195,632	1.24	%
Wholesale deposits⁶		3,391		96	3.80	%		4,289		148	4.58	%
Repurchase agreements		2,023,595		40,428	2.67	%		1,909,939		42,548	2.98	%
FHLB advances		119,286		4,226	4.67	%		1,475,071		52,796	4.72	%
Subordinated debentures and other borrowed funds		270,417		10,798	5.34	%		228,191		8,945	5.24	%
Total funding liabilities		26,984,102		272,536	1.35	%		24,642,026		300,069	1.63	%
Other liabilities		379,197						339,599
Total liabilities		27,363,299						24,981,625
Stockholders’ Equity
Stockholders’ equity		4,305,031						3,436,113
Total liabilities and stockholders’ equity	$	31,668,330					$	28,417,738
Net interest income (tax-equivalent)			$	845,883					$	633,317
Net interest spread (tax-equivalent)					3.81	%					3.11	%
Net interest margin (tax-equivalent)					3.90	%					3.21	%

______________________________

¹Includes tax effect of $4.9 million and $4.7 million on tax-exempt municipal loan and lease income for the nine months ended September 30, 2026, and 2025, respectively.
² Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³ Includes tax effect of $5.8 million and $5.2 million on tax-exempt debt securities income for the nine months ended September 30, 2026, and 2025, respectively.
⁴ Includes interest income of $22.4 million and $17.7 million on average interest-bearing cash balances of $810.1 million and $531.3 million for the nine months ended September 30, 2026, and 2025, respectively.
⁵ Includes tax effect of $205 thousand and $451 thousand on federal income tax credits for the nine months ended September 30, 2026, and 2025, respectively.
⁶ Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.


Glacier Bancorp, Inc. Loan Portfolio by Regulatory Classification

	Loans Receivable, by Loan Type												% Change from
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Custom and owner occupied construction	$	220,495		$	240,093		$	263,713		$	231,238		(8	)%	(16	)%	(5	)%
Pre-sold and spec construction		286,778			261,642			255,542			217,413		10	%	12	%	32	%
Total residential construction		507,273			501,735			519,255			448,651		1	%	(2	)%	13	%
Land development		232,326			232,548			263,262			197,981		—	%	(12	)%	17	%
Consumer land or lots		230,020			231,468			247,769			207,816		(1	)%	(7	)%	11	%
Unimproved land		271,226			256,084			167,796			137,720		6	%	62	%	97	%
Developed lots for operative builders		49,278			51,831			69,786			56,180		(5	)%	(29	)%	(12	)%
Commercial lots		141,700			131,320			155,631			99,220		8	%	(9	)%	43	%
Other construction		1,333,807			1,254,856			1,122,350			982,743		6	%	19	%	36	%
Total land, lot, and other construction		2,258,357			2,158,107			2,026,594			1,681,660		5	%	11	%	34	%
Owner occupied		3,931,551			3,928,083			3,950,726			3,570,671		—	%	—	%	10	%
Non-owner occupied		5,346,391			5,195,855			4,859,173			4,333,302		3	%	10	%	23	%
Total commercial real estate		9,277,942			9,123,938			8,809,899			7,903,973		2	%	5	%	17	%
Commercial and industrial		1,651,586			1,687,362			1,649,101			1,554,832		(2	)%	—	%	6	%
Agriculture		1,311,884			1,313,581			1,282,861			1,189,948		—	%	2	%	10	%
First lien		2,994,354			2,996,965			3,098,023			2,579,418		—	%	(3	)%	16	%
Junior lien		114,112			110,601			106,205			81,568		3	%	7	%	40	%
Total 1-4 family		3,108,466			3,107,566			3,204,228			2,660,986		—	%	(3	)%	17	%
Multifamily residential		1,102,092			1,075,562			1,019,484			969,573		2	%	8	%	14	%
Home equity lines of credit		1,088,925			1,089,052			1,076,201			1,056,757		—	%	1	%	3	%
Other consumer		217,260			222,289			237,393			192,501		(2	)%	(8	)%	13	%
Total consumer		1,306,185			1,311,341			1,313,594			1,249,258		—	%	(1	)%	5	%
States and political subdivisions		955,986			950,829			964,591			994,062		1	%	(1	)%	(4	)%
Other		177,370			178,847			177,375			180,711		(1	)%	—	%	(2	)%
Total loans receivable, including loans held for sale		21,657,141			21,408,868			20,966,982			18,833,654		1	%	3	%	15	%
Less loans held for sale¹		(37,611	)		(45,145	)		(39,186	)		(42,668	)	(17	)%	(4	)%	(12	)%
Total loans receivable	$	21,619,530		$	21,363,723		$	20,927,796		$	18,790,986		1	%	3	%	15	%

______________________________

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


Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification

	Non-performing Assets, by Loan Type					Non- Accrual Loans	Accruing Loans 90 Days or More Past Due	Other real estate owned and foreclosed assets
(Dollars in thousands)	Sep 30, 2026		Jun 30, 2026	Dec 31, 2025	Sep 30, 2025	Sep 30, 2026	Sep 30, 2026	Sep 30, 2026
Custom and owner occupied construction	$	1,856	397	183	476	1,110	746	—
Pre-sold and spec construction		3,890	—	919	2,039	221	2,322	1,347
Total residential construction		5,746	397	1,102	2,515	1,331	3,068	1,347
Land development		864	1,022	898	917	7	—	857
Consumer land or lots		814	248	79	358	781	33	—
Developed lots for operative builders		113	113	456	456	—	—	113
Commercial lots		—	—	556	—	—	—	—
Other construction		370	500	129	—	—	—	370
Total land, lot and other construction		2,161	1,883	2,118	1,731	788	33	1,340
Owner occupied		8,386	5,174	3,969	5,237	3,045	4,447	894
Non-owner occupied		20,658	24,176	7,606	691	19,614	344	700
Total commercial real estate		29,044	29,350	11,575	5,928	22,659	4,791	1,594
Commercial and Industrial		18,898	24,436	27,308	24,165	17,621	1,007	270
Agriculture		9,784	10,592	3,549	5,408	6,867	2,917	—
First lien		16,849	16,733	15,816	8,388	12,807	3,441	601
Junior lien		1,947	2,302	1,776	765	1,823	124	—
Total 1-4 family		18,796	19,035	17,592	9,153	14,630	3,565	601
Multifamily residential		13	—	395	1,039	13	—	—
Home equity lines of credit		5,236	4,932	3,968	3,402	3,735	1,501	—
Other consumer		949	1,071	1,229	852	558	323	68
Total consumer		6,185	6,003	5,197	4,254	4,293	1,824	68
Other		14	153	59	119	—	14	—
Total	$	90,641	91,849	68,895	54,312	68,202	17,219	5,220


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

	Accruing 30-89 Days Delinquent Loans, by Loan Type								% Change from
(Dollars in thousands)	Sep 30, 2026		Jun 30, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2026		Dec 31, 2025		Sep 30, 2025
Custom and owner occupied construction	$	716	$	2,277	$	533	$	305	(69	)%	34	%	135	%
Pre-sold and spec construction		368		4,498		1,189		—	(92	)%	(69	)%	n/m
Total residential construction		1,084		6,775		1,722		305	(84	)%	(37	)%	255	%
Land development		1,155		2,290		3,994		—	(50	)%	(71	)%	n/m
Consumer land or lots		785		1,968		1,162		564	(60	)%	(32	)%	39	%
Unimproved land		410		18		—		33	2,178	%	n/m		1,142	%
Developed lots for operative builders		—		—		2,300		5,265	n/m		(100	)%	(100	)%
Commercial lots		—		180		965		—	(100	)%	(100	)%	n/m
Other construction		—		—		4,787		—	n/m		(100	)%	n/m
Total land, lot and other construction		2,350		4,456		13,208		5,862	(47	)%	(82	)%	(60	)%
Owner occupied		7,650		6,038		6,103		3,809	27	%	25	%	101	%
Non-owner occupied		2,840		18,064		15,388		7,615	(84	)%	(82	)%	(63	)%
Total commercial real estate		10,490		24,102		21,491		11,424	(56	)%	(51	)%	(8	)%
Commercial and industrial		9,594		4,787		10,215		3,711	100	%	(6	)%	159	%
Agriculture		1,710		6,537		2,390		2,104	(74	)%	(28	)%	(19	)%
First lien		22,065		7,292		19,699		5,357	203	%	12	%	312	%
Junior lien		1,536		1,279		20		—	20	%	7,580	%	n/m
Total 1-4 family		23,601		8,571		19,719		5,357	175	%	20	%	341	%
Multifamily Residential		—		278		150		150	(100	)%	(100	)%	(100	)
Home equity lines of credit		5,365		5,354		5,415		7,421	—	%	(1	)%	(28	)%
Other consumer		1,739		1,990		1,866		1,751	(13	)%	(7	)%	(1	)%
Total consumer		7,104		7,344		7,281		9,172	(3	)%	(2	)%	(23	)%
States and political subdivisions		30		—		—		—	n/m		n/m		n/m
Other		2,186		2,633		2,650		1,439	(17	)%	(18	)%	52	%
Total	$	58,149	$	65,483	$	78,826	$	39,524	(11	)%	(26	)%	47	%

______________________________

n/m - not measurable


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

	Net Charge-Offs (Recoveries), Year-to-Date Period Ending, By Loan Type									Charge-Offs	Recoveries
(Dollars in thousands)	Sep 30, 2026			Jun 30, 2026		Dec 31, 2025		Sep 30, 2025		Sep 30, 2026	Sep 30, 2026
Land development	$	—		—		(358	)	(358	)	—	—
Consumer land or lots		—		—		(5	)	(5	)	—	—
Developed lots for operative builders		—		—		(8	)	—		—	—
Total land, lot and other construction		—		—		(371	)	(363	)	—	—
Owner occupied		282		256		(2	)	(1	)	375	93
Non-owner occupied		484		308		2,232		(11	)	559	75
Total commercial real estate		766		564		2,230		(12	)	934	168
Commercial and industrial		4,243		2,298		2,104		655		4,508	265
Agriculture		3		—		(112	)	(111	)	9	6
First lien		152		119		(182	)	(158	)	240	88
Junior lien		(26	)	(22	)	(38	)	(34	)	—	26
Total 1-4 family		126		97		(220	)	(192	)	240	114
Multifamily residential		409		409		—		—		409	—
Home equity lines of credit		91		78		43		(27	)	135	44
Other consumer		855		504		1,600		1,151		1,206	351
Total consumer		946		582		1,643		1,124		1,341	395
Other		8,440		4,983		7,448		5,253		11,137	2,697
Total	$	14,933		8,933		12,722		6,354		18,578	3,645

Visit our website at www.glacierbancorp.com

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.

CONTACT:
Randall M. Chesler, CEO
(406) 751-4722

Ron J. Copher, CFO
(406) 751-7706