GLACIER BANCORP, INC. ANNOUNCES RESULTS FOR THE QUARTER AND PERIOD ENDED SEPTEMBER 30, 2026
GLACIER BANCORP, INC. (GBCI) filed an SEC Form 8-K — Results of Operations and Financial Condition. NEWS RELEASE October 22, 2026 FOR IMMEDIATE RELEASE CONTACT: Randall M. Chesler, CEO (406) 751-4722 Ron J. Copher, CFO (406) 751-7706 GLACIER BANCORP, INC. ANNOUNCES RESULTS FOR THE QUARTER AND PERIOD ENDED SEPTEMBER 30, 2026 3rd Quarter 2026 Highlights: • Net income was a record
How this was made
The 30-second read
Why it matters
The earnings beat and dividend increase are likely to attract short‑term buying, especially after the market close.
Market read
Primary earnings disclosure for a listed regional bank; provides fresh data for traders.
What to watch
Potential headwinds from rising funding costs and loan quality could temper upside.
Record quarterly net income of $105 million, with net interest margin expanding to 4.01 percent and loans and deposits increasing from the prior quarter.
Third-quarter net income increased 54 percent from the prior-year quarter, net interest income increased 29 percent, net interest margin expanded 62 basis points, and deposits and loans grew. Credit metrics showed higher non-performing assets and net charge-offs than a year earlier.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net income, three months ended September 30, 2026GAAP | $104.6M | 7 percent | 54 percent |
| Basic earnings per share, three months ended September 30, 2026GAAP | $ 0.80 | – | – |
| Diluted earnings per share, three months ended September 30, 2026GAAP | $ 0.80 | 7 percent | 40 percent |
| Operating diluted earnings per share, three months ended September 30, 2026non-GAAP | $ 0.81 | 7 percent | 31 percent |
| Operating net income, three months ended September 30, 2026non-GAAP | $105.4M | – | – |
| Total interest income, three months ended September 30, 2026GAAP | $380.0M | 4 percent | 17 percent |
| Total interest expense, three months ended September 30, 2026GAAP | $90.08M | 1 percent | (10) percent |
| Total net interest income, three months ended September 30, 2026GAAP | $289.9M | 5 percent | 29 percent |
| Net interest margin (tax-equivalent), three months ended September 30, 2026other | 4.01 % | 11 basis points | 62 basis points |
| Core net interest margin (tax-equivalent), three months ended September 30, 2026non-GAAP | 3.95 % | – | – |
| Total non-interest income, three months ended September 30, 2026GAAP | $39.94M | (3) percent | 13 percent |
| Total income, three months ended September 30, 2026GAAP | $329.8M | – | – |
| Provision for credit losses, three months ended September 30, 2026GAAP | $5.11M | – | – |
| Total non-interest expense, three months ended September 30, 2026GAAP | $191.9M | 3 percent | 14 percent |
| Efficiency ratio, three months ended September 30, 2026GAAP | 56.08 % | – | – |
| Operating efficiency ratio, three months ended September 30, 2026non-GAAP | 55.75 % | – | – |
| Federal and state income tax expense, three months ended September 30, 2026GAAP | $28.28M | 6 percent | 63 percent |
| Effective tax rate, three months ended September 30, 2026GAAP | 21.3 percent | – | – |
| Net income, nine months ended September 30, 2026GAAP | $284.6M | – | 62 percent |
| Diluted earnings per share, nine months ended September 30, 2026GAAP | $ 2.18 | – | 44 percent |
| Operating diluted earnings per share, nine months ended September 30, 2026non-GAAP | $ 2.26 | – | 35 percent |
| Total net interest income, nine months ended September 30, 2026GAAP | $835.0M | – | 34 % |
| Total non-interest income, nine months ended September 30, 2026GAAP | $119.1M | – | 18 % |
| Total non-interest expense, nine months ended September 30, 2026GAAP | $579.1M | – | 22 % |
| Provision for credit losses, nine months ended September 30, 2026GAAP | $17.53M | – | (51) percent |
| Net charge-offs, nine months ended September 30, 2026GAAP | $14.93M | – | – |
| Loan portfolioGAAP | $21.62B | 5 percent annualized | 15 percent |
| Total depositsGAAP | $25.27B | 10 percent annualized | 16 percent |
| Non-interest bearing depositsGAAP | $7.70B | 15 percent annualized | 15 percent |
| Total assetsGAAP | $32.29B | – | – |
| Total stockholders' equityGAAP | $4.34B | – | – |
| Tangible stockholders' equitynon-GAAP | $2.87B | 1 percent | 18 percent |
| Total non-performing assetsGAAP | $90.64M | (1) percent | 67 percent |
| Allowance for credit losses as a percentage of total loansGAAP | 1.20 % | – | – |
| Net charge-offs as a percentage of total loansGAAP | 0.07 % | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- The Company declared a quarterly cash dividend of $0.35 per share on September 22, 2026.
- The dividend was payable on October 15, 2026, to shareholders of record on October 6, 2026.
- Dividends declared in the first nine months of 2026 were $1.01 per share, compared to $0.99 per share in the prior year first nine months.
- The dividend was the Company’s 166th consecutive regular dividend.
What drove it
- Net interest income increased as earning assets increased at higher yields and core deposits increased at lower costs, including non-interest bearing deposits.
- The current-quarter loan yield was 6.22 percent, compared to 6.12 percent in the prior quarter and 5.97 percent in the prior-year third quarter.
- Core deposit cost was 1.17 percent, compared to 1.18 percent in the prior quarter and 1.23 percent in the prior-year third quarter.
- Commercial real estate loans increased $277.174 million from June 30, 2026, while total loans receivable increased $255.807 million.
- Total deposits increased $618.620 million from the prior quarter, including a $278.990 million increase in non-interest bearing deposits.
- The company completed the Guaranty core system conversion. Guaranty was acquired on October 1, 2025, with total assets of $3.357 billion.
- Non-interest income increased from the prior-year quarter, led by deposit service charges and other fees and payment services.
Concerns
- Non-performing assets increased $36.3 million, or 67 percent, from the prior-year third quarter to $90.6 million.
- Net charge-offs were $6.0 million in the current quarter, compared to $2.9 million in the prior-year third quarter.
- Early stage delinquencies were $58.1 million, increasing $18.6 million from the prior-year third quarter, although they decreased $7.3 million from the prior quarter.
- Total non-interest expense increased $24.1 million, or 14 percent, from the prior-year third quarter, primarily due to increased costs from acquired banks.
- The reported quarter-end deposit was described as temporary and expected to largely exit in the fourth quarter.
What to watch
- The exit of the temporary quarter-end deposit that management expects to largely exit in the fourth quarter.
- Whether loan yields, core deposit costs and the 4.01 percent net interest margin continue to improve.
- Credit quality trends, particularly non-performing assets, early stage delinquencies and net charge-offs.
- Expense growth from acquired banks, performance-based compensation and acquisition-related employment agreements.
- Loan and deposit growth excluding the Guaranty acquisition.
Balance sheet and cash flow
- Cash and cash equivalents were $ 1,506,781 at September 30, 2026, compared to $ 1,056,679 at June 30, 2026 and $ 854,244 at September 30, 2025.
- Total debt securities were $6.413 billion at September 30, 2026, decreasing $74.5 million during the current quarter and $659 million from the prior year third quarter.
- FHLB advances were $ 0 at September 30, 2026, compared to $ 895,022 at September 30, 2025.
- Repurchase agreements were $ 1,954,925 at September 30, 2026.
- Subordinated debentures were $ 174,113 at September 30, 2026.
- Total liabilities were $ 27,950,943 at September 30, 2026.
Analysis
Glacier Bancorp reported record third-quarter net income of $104.6 million and diluted EPS of $0.80. Net income increased from $97.9 million in the prior quarter and $67.9 million in the prior-year third quarter. Operating diluted EPS, a non-GAAP measure, was $0.81, compared with $0.76 in the prior quarter and $0.62 a year earlier. For the first nine months, net income was $284.6 million and diluted EPS was $2.18.
The principal earnings driver was net interest income. Third-quarter net interest income was $289.9 million, up from $276.4 million sequentially and $225.4 million a year earlier. Tax-equivalent net interest margin reached 4.01 percent, up from 3.90 percent in the prior quarter and 3.39 percent in the prior-year quarter. Management attributed the expansion to higher earning-asset yields, higher loan yields, a mix shift toward higher-yielding loans, lower deposit costs and lower high-cost borrowings. The loan yield increased to 6.22 percent while total funding cost decreased to 1.32 percent.
Balance-sheet growth continued. Loans receivable were $21.620 billion, increasing $255.807 million from June 30, 2026 and $2.829 billion from September 30, 2025. Total deposits were $25.273 billion, up $618.620 million sequentially, including a $278.990 million increase in non-interest bearing deposits. The release notes that, excluding a temporary quarter-end deposit expected to largely exit in the fourth quarter, deposits increased $308 million from the prior quarter. The Guaranty acquisition and subsequent core system conversion remain important comparability factors, with the company stating that loans and deposits excluding the acquisition increased $726 million and $695 million, respectively, from the prior-year third quarter.
Non-interest income was $39.9 million, lower sequentially but higher than the prior-year quarter, while total non-interest expense increased to $191.9 million. Compensation and employee benefits rose $4.4 million sequentially due primarily to increased performance-based compensation. Compared with the prior-year quarter, expense growth reflected acquired-bank costs, annual salary increases and increased staffing, partly offset by lower acquisition-related expense. The efficiency ratio improved to 56.08 percent from 56.65 percent sequentially and 62.05 percent a year earlier because net interest income outpaced expense growth.
Credit metrics were mixed. Non-performing assets were $90.6 million, down modestly from the prior quarter but up $36.3 million from the prior-year third quarter. Early stage delinquencies decreased sequentially to $58.1 million but were higher than the prior-year quarter. Current-quarter net charge-offs were $6.0 million, compared with $5.9 million in the prior quarter and $2.9 million a year earlier. The allowance for credit losses was 1.20 percent of total loans, compared with 1.22 percent at June 30, 2026 and September 30, 2025. The company increased its quarterly dividend to $0.35 per share. No forward financial guidance was provided.
Management, verbatim
Our strong third quarter results clearly demonstrate the power of the Glacier franchise. 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.
Randy Chesler, President and Chief Executive Officer
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).
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.
Ron Copher, Chief Financial Officer
Not in the filing
stated, not guessed- Forward financial guidance
- Prior-outlook comparison, as no previous outlook was provided
- Total revenue, as no revenue line item was reported
- Gross margin
- Operating income
- Operating cash flow
- Free cash flow
- Share repurchases
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Glacier Bancorp filed a Form 8‑K reporting its third‑quarter 2026 financial results and dividend declaration.
Ticker impact
Glacier Bancorp reported Q3 2026 results with record net income of $104.6M, EPS $0.80 and a 6% dividend increase.
upward pressure as market prices in stronger earnings and higher dividend.
Revenue and earnings beat expectations, net interest margin improved, and dividend increase signals confidence.
Market effects
Banking sector may see modest uplift as regional banks report stronger earnings.
U.S. regional banking stocks could benefit from positive earnings sentiment.
Limited to U.S. regional banks; minimal global impact.
Counterpoint
If earnings were already priced in, the modest beat may not sustain a rally.
Key entities
- companyGlacier Bancorp, Inc.
U.S. regional bank reporting Q3 2026 earnings.
