Glacier Bancorp (GBCI) investor relations material

Executive summary

• Net income for Q2 2026 was $97.9 million, up 19% sequentially and 85% year-over-year, with diluted EPS of $0.75, up 19% from Q1 and 67% from Q2 2025; operating EPS was $0.76, up 9% sequentially and 33% year-over-year.

• Net interest income for Q2 2026 was $276 million, up 3% sequentially and 33% year-over-year, driven by higher loan balances and yields.

• Loan and deposit growth remained broad-based and stable, with loans up 15% and deposits up 14% year-over-year.

• Strong performance was driven by net interest income, margin expansion, and disciplined cost management.

• Q2 included $1.6 million in acquisition-related expenses and $2.6 million in gains from asset sales.

Financial highlights

• Net income for H1 2026 was $180 million, up 68% year-over-year; diluted EPS was $1.38, up 48% year-over-year; operating EPS was $1.45, up 39%.

• Net interest margin for Q2 2026 was 3.90%, up 10 bps from Q1 and 69 bps year-over-year.

• Core deposit cost for Q2 2026 was 1.18%, down 2 bps from Q1; non-interest-bearing deposits held steady at 30% of total.

• Efficiency ratio improved to 56.65% in Q2 2026 from 63.05% in Q1 and 62.08% in Q2 2025.

• Non-interest income for Q2 2026 was $41.1 million, up 8% sequentially and 25% year-over-year, led by deposit service charges and payment services.

Outlook and guidance

• Deposit costs expected to remain stable if the Fed holds rates; could adjust if rates change.

• Loan growth outlook remains strong for Q3, with healthy pipelines and seasonal tailwinds.

• Margin expected to reach or exceed 4% in early Q4 2026, with further growth into 2027.

• Quarterly expense guidance for H2 remains $187M–$192M, allowing for some discretionary spending.

• Management continues to monitor macroeconomic and geopolitical uncertainties, including inflation, interest rates, and global conflicts.