Glacier Bancorp (GBCI) investor relations material

Executive summary

• Net income for Q1 2026 was $82.1 million, up 29% from the prior quarter and 51% year-over-year, marking record quarterly results.

• Diluted EPS reached $0.63, increasing 29% sequentially and 31% year-over-year; operating diluted EPS was $0.70, up 49% year-over-year.

• Margin expansion and strong deposit growth were key performance drivers.

• Loan and deposit growth continued, with total loans at $21.0 billion and deposits at $24.7 billion, both increasing 2% annualized from the prior quarter.

• Integration and core system conversion of Guaranty Bank completed, supporting growth in the Southwest region.

Financial highlights

• Net interest margin rose to 3.80%, up 22 bps from the prior quarter and 76 bps year-over-year.

• Loan yield increased to 6.16%, up 7 bps sequentially and 39 bps year-over-year.

• Total earning assets yield was 5.11%, up 11 bps from the prior quarter and 50 bps year-over-year.

• Net interest income was $269 million, up 1% sequentially and 41% year-over-year.

• Efficiency ratio was 63.05%, up from 61.04% in the prior quarter but improved from 65.49% a year ago.

Outlook and guidance

• Management remains comfortable with low to mid-single digit loan growth for 2026, expecting improvement in Q2 and Q3.

• Efficiency ratio target of 54%-55% (core operating) reaffirmed for Q4 2026.

• Net interest margin expected to reach 4% in the second half of 2026, with further lift possible but not expected to exceed significantly.

• Asset repricing momentum expected to continue through 2027, with $3 billion in loans repricing over the next 12 months.

• Management emphasized focus on disciplined growth, operating leverage, and long-term value creation.