Glacier Bancorp, Inc. · NYSE:GBCI
Glacier Bancorp — Investor Presentation (October 2025)
51 slides from Glacier Bancorp's investor presentation, Oct 29, 2025
Slide 1: Investor Presentation September 30, 2025
Investor Presentation September 30, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains 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
Slide 3: Glacier Bancorp Inc. 9/30/2025 Snapshot
Glacier Bancorp Inc. 9/30/2025 Snapshot GBCITicker $29.02 billionTotal Assets $18.79 billionGross Loans $21.87 billionDeposits $20.46TCBV Per Share $0.33Dividends $48.67Stock Price $5.77 billionMarket Cap 3
Slide 4: Differentiated Bank Model
Differentiated Bank Model • Genuine community banking model • Backed by resources and support of Glacier Bancorp • Strategy of growth through acquisitions and organically 4
Slide 5: Glacier Bancorp is a Family of Banks Pro Forma for Guaranty Acquisition
Glacier Bancorp is a Family of Banks 5 Pro Forma for Guaranty Acquisition 9 States ● 18 Divisions ● 285 Locations
Slide 6: Acquisition – Bank of Idaho Holding Co.
Acquisition – Bank of Idaho Holding Co. • Founded in 1985 and headquartered in Idaho Falls, Idaho • Full-service community bank, providing comprehensive financial services to businesses and individuals with 15 branch locations throughout Eastern Idaho, Boise Metro and Eastern Washington • Acquisitio
Slide 7: Acquisition – Bank of Idaho Holding Co.
Acquisition – Bank of Idaho Holding Co. • Acquisition complements Glacier’s existing strong loan and deposit portfolios and deepens its presence in several of the top growth markets in the United States • Aligns with Glacier’s long-term strategy of acquiring quality banks in strong markets with exce
Slide 8: Bank of Idaho Transaction Overview and Assumptions
Acquisition – Bank of Idaho Holding Co. (“BOID”) Transaction Overview and Assumptions 100% stock consideration to BOID common shareholders 1.100x shares of Glacier Bancorp stock for each BOID share BOID options and stock appreciation rights will be cashed out for their in-the-money value Consi
Slide 9: Acquisition - Guaranty Bancshares Overview
Acquisition - Guaranty Bancshares Overview 9 Consolidated Financial Highlights (Q2-2025) Company Overview Bank founded in 1913 and headquartered in Mount Pleasant, Texas Full-service community bank providing comprehensive financial services to businesses and individuals with 33 branch locations
Slide 10: Guaranty Bancshares Dynamic & Diverse Operating Markets
Acquisition – Guaranty Bancshares Dynamic & Diverse Operating Markets 10 Legacy East Texas (Chartered 1913) Market Stats: Guaranty Market Deposits: $1.5 billion Guaranty Branches: 14 Total Population: 449 thousand Proj. Pop. Growth (‘25-’30): 2.4% Median HHI(1): $67 thousand Proj. HHI Gr
Slide 11: Guaranty Bancshares Transaction Overview & Assumptions
Acquisition - Guaranty Bancshares Transaction Overview & Assumptions 11 1) Based on a GBCI closing price of $41.58 on June 23, 2025 2) Includes 11,356,856 GNTY shares outstanding 3) Includes 341,780 options and a weighted average strike price of $30.07 4) Including employment and benefit plan costs,
Slide 12: GBCI Acquisition History – 2015 through 2025 YTD
12 $- $5 $10 $15 $20 $25 $30 $35 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD* GBCI Acquisitions $12.1 $9.7 $13.7 $18.5 $25.9 $26.6 $27.7 $27.9 $32.1 GBCI Acquisition History – 2015 through 2025 YTD Total Assets in billions Long history of adding high quality community banks that fit t
Slide 13: Track Record of Increasing Market Share
20252015 MarketGlacierMarketGlacier ShareDepositsRankTransactions since 2015ShareDepositsRankdollars in millions 25.8%$7,973121.0%$3,4332Montana 18.8%$3,205113.4%$1,0211Idaho 13.7%$2,84412.4%$19312Utah(1) 0.7%$2,71930------Texas 9.5%$1,8232------Arizona 3.4%$1,74071.8%$4929Colorado 9.7%$1,50844.2%$4
Slide 14: Significant Runway of Additional Acquisition Opportunities
Significant Runway of Additional Acquisition Opportunities 14 1) Excludes announced merger targets 2) Excludes BAC, C, JPM, and WFC Note: FDIC deposit data as of June 30, 2025 Source: S&P Capital IQ Pro Mountain West Region Business Friendly In-Migration Stable, growing economies Glacier achievi
Slide 15: GBCI Is Prepared for Expected M&A Acceleration
GBCI Is Prepared for Expected M&A Acceleration Capital Team Technology and Product Investments Reputation –with Regulators and Sellers Defined Playbook that Works Disciplined M&A Approach Attractive Model 15
Slide 16: Foundation for Growth and Acquisitions
Foundation for Growth and Acquisitions “Best of Breed” Technology and Product Introduce exceptional technology and top-tier banking products Ensure we offer the best solutions in the market Product Management Organization Dedicated team to drive innovation and alignment Strengthens market focus and
Slide 17: Solid Financial Results
Solid Financial Results @ Glacier Bancorp 7
Slide 18: Diluted Earnings Per Share
Diluted Earnings Per Share $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 $2.75 $3.00 $3.25 $2.74$2.… $1.… $0.29 $0.48 $0.39 $0.45 $0.45 $0.57 $2.01 • EPS for the third quarter 2025 of $0.57 increased $0.12, or 27%, over the third quarter 2024 EPS of $0.45 • The increase in EPS wa
Slide 19: Return on Assets
0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% 1.62% 0.68% 1.33% 0.81% 0.62% 0.82% • ROA for the third quarter 2025 was 0.82% and ROA of 0.77% for the second quarter was in the 28th percentile among Glacier’s peer group Return on Assets BHCPR as of 6/30/2025 1.15% 19
Slide 20: Return on Tangible Equity
4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 12.14% 15.49% 16.59%16.85% 9.61% 8.75% 10.70% • The Company’s historically high capital levels have made it more difficult to produce higher ROTE. Return on Tangible Equity 20
Slide 21: Net Interest Income / Margin
$100 $200 $300 $400 $500 $600 $700 $800 $900 $600 $663 $788 $692 $705 $686 $833 4.09% 3.42% 3.27% 2.73% 2.77% Q2 2.68% Q2 3.21% Q1 2.59% Q1 3.04% Q3 2.83% • Net interest income of $833 million, annualized, for the first nine months 2025 increased $147 million, or 21.50%, over net interest income of
Slide 22: Net Interest Margin Year-to-Date 2025 compared to Year-to-Date 2024
Net Interest Margin Year-to-Date 2025 compared to Year-to-Date 2024 2.54% 2.58% 2.59% 2.61% 2.62% 2.64% 2.65% 2.68% 2.70% 2.72% 2.75% 2.77% 2.95% 3.05% 3.04% 3.05% 3.09% 3.12% 3.15% 3.18% 3.21% 2.50% 2.60% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% Jan Feb March April May June July Aug Sept Oct Nov D
Slide 23: Efficiency Ratio
38.0% 42.0% 46.0% 50.0% 54.0% 58.0% 62.0% 66.0% 70.0% 74.0% 78.0% 50.0% 51.4% 54.6% 62.9% 66.7% 69.0% 63.1% Q3 64.9% Q3 62.1% • The efficiency ratio for the first nine months 2025 was 63.1% compared to 69.0% for the first nine months 2024 and was primarily due to the increase in net interest income
Slide 24: Strong Balance Sheet
Strong Balance Sheet 24
Slide 25: Asset Trends
$18,504 $25,941 $26,635 $27,743 $27,903 $29,016 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 $30,000 • At September 30, 2025, total assets of $29.0 billion including $1.4 billion of assets from the Bank of Idaho acquisition • Pro forma total assets of $32.1 billion at September 30, 2025 are inclu
Slide 26: CET1 Capital Relative to Peers
11.00% 12.00% 13.00% CET1 12.2% 12.6% Peers Glacier • Regulatory capital CET1 was 12.6% at June 30, 2025, which was well above the peer median CET 1 Capital Relative to Peers Proxy Compensation Peer Group Median as of 6/30/2025 26
Slide 27: Ample Liquidity of $14.9 Billion at September 30, 2025
Ample Liquidity of $14.9 Billion at September 30, 2025 • Ready access to liquidity totaling $9.5 billion • $6.1 billion in available borrowing capacity o Federal Reserve: $2.1 billion o FHLB: $3.5 billion o Correspondent banks: $0.5 billion • $2.5 billion of unpledged marketable securities • Cash of
Slide 28: Strong Core Deposit Base
Strong Core Deposit Base • Our community banking model is customer relationship driven • Uninsured deposits, excluding collateralized public deposits and cash held at the holding company, are 24% of total deposits • 35% of uninsured deposits are with customers that also have a loan relationship with
Slide 29: Strong Core Deposit Base - Continued
Strong Core Deposit Base - Continued • Demand and savings deposit characteristics • Deposit Granularity • Retail: 687,284 accounts ; average balance = $11,791 • Commercial: 171,243 accounts ; average balance = $62,792 • Relationship Length • Weighted average relationship age is 16 years • Compositio
Slide 30: Deposit Trends
$14,798 $21,337 $20,607 $19,929 $20,547 $21,871 $14,000 $15,000 $16,000 $17,000 $18,000 $19,000 $20,000 $21,000 $22,000 $23,000 • During the first nine months 2025: • total deposits and core deposits increased $1.3 billion, or 6.44% • core deposits and repurchase agreements increased $1.6 billion, o
Slide 31: Deposit Composition
Non- Interest Bearing 31% NOW and DDA 26% Savings 13% MMDA 14% CDs 16% Wholesale 0% 9/30/2024 Non- Interest Bearing 31% NOW and DDA 26% Savings 14% MMDA 14% CDs 15% Wholesale 0% 9/30/2025 Deposit Composition 31
Slide 32: Non-Interest Bearing Deposits
$5,455 $7,7… $7,691 $6,023 $6,1… $6,674 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 • Non-interest bearing deposits increased $538 million, or 9%, during the first nine months 2025 • Non-interest bearing deposits were 31% of total deposits at September 30, 2025 compared to 30% at December 31, 2
Slide 33: Interest-Bearing Deposit Cost Relative to Peers
0.15% 0.09% 0.11% 1.22% 1.92% 1.75% 1.77% 0.53% 0.21% 0.58% 2.49% 3.17% 2.79% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% Glacier Peers • Interest-bearing deposit cost decreased to 1.77% at September 30, 2025, from 1.92% at December 31, 2024 due to market dynamics and the competitive rate enviro
Slide 34: Loan Trends
$11,123 $13,432 $15,247 $16,198 $17,262 $18,791 $11,000 $12,000 $13,000 $14,000 $15,000 $16,000 $17,000 $18,000 $19,000 $20,000 • Gross loans increased $1.5 billion, or 12% annualized, during first nine months 2025 with the largest increase in commercial real estate loans of $1.1 billion, or 13% ann
Slide 35: Loan Composition
Residential Real Estate 11% CRE 63% Other Commercial 19% HELOC 5% Other Consumer 2% 9/30/2024 Residential Real Estate 10% CRE 64% Other Commercial 19% HELOC 5% Other Consum… 9/30/2025 Loan Composition 35
Slide 36: Geographic Loan Dispersion
Montana 62% Idaho 22% Utah 2% Washington 1% Wyoming 9% Colorado 4% 12/31/2009 Montana 32% Idaho 16% Utah… Washington 9% Wyoming 7% Colorado 9% Arizona 9% Nevada 4% 9/30/2025 Geographic Loan Dispersion 36
Slide 37: Term CRE Portfolio
Term CRE Portfolio * Diversified and Low Risk Portfolio • Total portfolio $7.8 billion (42% of total portfolio) • Non-owner portfolio $4.3 billion (23% of total portfolio) • $913 thousand average loan balance • 58% average LTV • 0.15% past due rate • 0.06% non-performing • 98% of loans have recourse
Slide 38: Office CRE Portfolio
Office CRE Portfolio * • $720 thousand average loan balance • 59% average LTV • 0.00% past due • 0.07% non-performing • 98% of loans have recourse through guaranties • Includes $126 million in medical office • 6% of office portfolio matures or reprices prior to 2026 • Limited exposure to loans above
Slide 39: Office CRE Portfolio - Continued
Office CRE Portfolio - Continued Denver $39 million Phoenix $16 million Salt Lake City $21 million Suburban/Rural $1.42 billion • Highly diversified portfolio across 8 states primarily in rural markets • Portfolio in Denver, Phoenix, and Salt Lake City represent 5% of total office (0.4% of total loa
Slide 40: Investment Portfolio Trends
$5,528 $10,370 $9,022 $8,288 $7,540 $7,072 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 • Investment securities ended third quarter 2025 at 24% of total assets compared to 28% at the end of third quarter 2024 • Investment securities decreased $468 million, or 6%, during the first nine months 2
Slide 41: Investment Composition
US Gov't & Federal Agency 17% US Gov't Sponsored Enterprises 4% State & Local Gov'ts 22% Corporate Bonds 0% Residential MBS 44% Commercial MBS 13% 9/30/2024 US Gov't & Federal Agency 18% US Gov't Sponsored Enterprises 5% State & Local Gov'ts 23% Corporate Bonds 0% Residential MBS 40% Commercial MBS
Slide 42: Credit Quality
Credit Quality 42
Slide 43: NPAs to Bank Assets
0.00% 0.10% 0.20% 0.30% 0.40% 0.19% 0.26% 0.09%0.10%0.10% 0.19% • During the first nine months 2025, NPAs increased $26.5 million to 0.19% of Bank assets compared to 0.10% of Bank assets for the nine months 2024 NPAs to Bank Assets 0.12% 43
Slide 44: CECL and Allowance for Credit Losses (ACL)
CECL and Allowance for Credit Losses (ACL) • Commercial Asset Quality Ratings • Consumer Loan Past Due Status • Additional Qualitative Adjustments • Prepayment Speed Assumptions • Low levels of unemployment • Historical Loss Period Capture (Dollars in millions) Other Key Model Inputs National Econom
Slide 45: Provision For Credit Losses
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $39,765 $23,076 $19,963 $14,795 $28,3… $19,772 $35,737 • Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts, actual results and other environmental factors will determine t
Slide 46: Net Charge-Offs
$0 $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 $7,653 $2,329 $7,815 $10,316 $13,8… $8,728 $6,3… • During the first nine months 2025, net charge-offs as a percentage of total loans were 0.03% compared to 0.05% for the first nine months 2024 Net Charge-Offs (Dollars in thousands) 46
Slide 47: ACL as a Percentage of Loans
1.00% 1.25% 1.50% 1.75% 1.42% 1.29% 1.20% 1.19% 1.19% 1.19% 1.22% • ACL was in the 49th percentile of Glacier’s peer group for the second quarter 2025 • The ACL was 1.22% of loans for the third quarter 2025 compared to 1.19% for the third quarter 2024 • As credit trends change, expect the ACL to adj
Slide 48: Shareholder Return
Shareholder Return GY Glacier Bancorp
Slide 49: Dividends Declared
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20 $1.30 • At September 30, 2025, Glacier’s dividend yield was 2.71% • The Company has declared 162 consecutive quarterly dividends Dividends Declared 49
Slide 50: A Definitive Ranking of Publicly Traded Banks
A Definitive Ranking of Publicly Traded Banks Every publicly traded bank ranked by all-time total shareholder return * Includes both dividends paid and share price appreciation ** Normalized to account for the time period that each bank has been publicly traded GBCI shares have been publicly traded
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