Glacier Bancorp (GBCI) Q4 2025 earnings summary

Executive summary

• Completed acquisitions of Guaranty Bank & Trust (Guaranty Bancshares) and Bank of Idaho in 2025, expanding into Texas and Idaho and marking the largest acquisition year with $4.7 billion in assets acquired.

• Total assets reached a record $32 billion at year-end 2025, with strong growth in all key financial metrics and continued momentum in the fourth quarter.

• Achieved net income of $239 million for 2025, up 26% year-over-year, with diluted EPS of $1.99, up 18%.

• Delivered double-digit loan and deposit growth, robust margin expansion, and maintained strong credit quality.

Financial highlights

• Net income for 2025 was $239 million, up 26% year-over-year; Q4 net income was $63.8 million, including $36 million in acquisition-related expenses.

• Pre-tax, pre-provision net revenues rose 42% to $362 million for 2025.

• Diluted EPS for 2025 was $1.99, up 18% year-over-year; Q4 diluted EPS was $0.49.

• Net interest income for 2025 increased 26% to $889 million; Q4 net interest income was $266 million, up 18% sequentially and 39% year-over-year.

• Loan portfolio grew 21% year-over-year to $21 billion; total deposits rose 20% to $24.6 billion.

• Net interest margin for Q4 was 3.58%, up 19 bps sequentially and 61 bps year-over-year; for 2025, 3.32%, up 55 bps.

• Non-interest income for Q4 was $40.4 million, up 14% sequentially and 28% year-over-year; for 2025, $141 million, up 10%.

• Non-interest expense for Q4 2025 was $195 million, up 16% sequentially and 38% year-over-year; for 2025, $669 million, up 16%.

• Efficiency ratio improved to 61.04% in Q4 2025 and 62.50% for 2025.

Outlook and guidance

• Expecting low- to mid-single digit loan growth for 2026, with potential for higher growth if current pipeline strength persists.

• Net interest margin projected to reach 4% in the second half of 2026, with further expansion possible in 2027.

• Core non-interest expense guidance for Q1 2026 is $189–$193 million, with full-year core expense expected between $750–$766 million.

• Efficiency ratio targeted to improve to 54–55% by year-end 2026.

• Management remains focused on disciplined growth, service excellence, and long-term shareholder value.