Glacier Bancorp, Inc.: Q2 FY2026 earnings call

What management said about Q2 FY2026, from the documents filed with the SEC on 23 July 2026: press release. The quarter’s numbers.

Read the filing

Key takeaways

• Net income rose to $97.9 million: Net income rose 19 percent from the prior quarter and 85 percent from the prior year second quarter, to $97.9 million. Source
• Diluted EPS rose to $0.75: Diluted EPS was $0.75, up $0.12 from the prior quarter and $0.30 from a year earlier. Operating diluted EPS, a non-GAAP measure, was $0.76. Source
• Net interest income rose 3 percent: Net interest income was $276 million, up $7.8 million from the prior quarter and up $68.8 million, or 33 percent, from a year earlier. Source
• Net interest margin reached 3.90 percent: Tax-equivalent net interest margin was 3.90 percent, up 10 basis points from 3.80 percent in the prior quarter and 69 basis points from 3.21 percent a year earlier. Source
• Loans grew 6 percent annualized: Loans reached $21.364 billion at June 30, 2026, up $330 million in the quarter and up $2.831 billion, or 15 percent, from a year earlier including the Guaranty acquisition. Source
• Expenses fell as acquisition costs eased: Non-interest expense was $186.7 million, down $13.8 million from the prior quarter and up $31.6 million, or 20 percent, from a year earlier, mainly from the acquired banks. Source
• Non-performing assets rose 16 percent: Non-performing assets were $91.8 million, up $12.4 million from the prior quarter and up $43.2 million, or 89 percent, from a year earlier. Non-accrual loans were $74.4 million. Source

“Our performance reflects the strength of our diversified community banking model, disciplined balance sheet management and the continued customer focus of our teams across the franchise.”

Randy Chesler, President and Chief Executive Officer

Earnings and net interest income

• Net income rose to $97.9 million: Net income rose 19 percent from the prior quarter and 85 percent from the prior year second quarter, to $97.9 million. Source
• Diluted EPS rose to $0.75: Diluted EPS was $0.75, up $0.12 from the prior quarter and $0.30 from a year earlier. Operating diluted EPS, a non-GAAP measure, was $0.76. Source
• Net interest income rose 3 percent: Net interest income was $276 million, up $7.8 million from the prior quarter and up $68.8 million, or 33 percent, from a year earlier. Source
• First-half earnings driven by margin: First-half net income was $180 million, up $72.7 million, or 68 percent, from the prior year first half. The company attributed the increase mainly to higher net interest income. Source

Margin and funding costs

• Net interest margin reached 3.90 percent: Tax-equivalent net interest margin was 3.90 percent, up 10 basis points from 3.80 percent in the prior quarter and 69 basis points from 3.21 percent a year earlier. Source
• Core margin rose to 3.86 percent: Core net interest margin, which excludes purchase accounting and certain other items, was 3.86 percent, up from 3.73 percent in the prior quarter and 3.18 percent a year earlier. Source
• Loan yield eased slightly: Loan yield was 6.12 percent, down 4 basis points, mainly from 3 basis points less loan discount accretion and 2 basis points less non-accrual interest reversal. Core loan yield was 6.06 percent, up 1 basis point. Source
• Total funding cost fell further: Total funding cost was 1.33 percent, down 7 basis points from the prior quarter and 30 basis points from a year earlier. Core deposit cost was 1.18 percent, down 2 basis points. Source
• Interest expense fell 5 percent: Interest expense was $88.8 million, down $4.9 million from the prior quarter and $11.7 million from a year earlier, mainly on lower deposit rates and fewer higher-cost borrowings. Source

“The Company’s net interest margin increased for the tenth consecutive quarter,”

Ron Copher, Chief Financial Officer

Loans, deposits and balance sheet

• Loans grew 6 percent annualized: Loans reached $21.364 billion at June 30, 2026, up $330 million in the quarter and up $2.831 billion, or 15 percent, from a year earlier including the Guaranty acquisition. Source
• Organic loan growth of 4 percent: Excluding the Guaranty acquisition, loans rose $728 million, or 4 percent, from a year earlier. Source
• Deposits slipped in the quarter: Total deposits were $24.654 billion, down $87.8 million in the quarter and up $3.026 billion, or 14 percent, from a year earlier. Excluding Guaranty, deposits rose $319 million from a year earlier. Source
• Non-interest bearing deposits held flat: Non-interest bearing deposits were $7.423 billion, unchanged in the quarter and up $830 million, or 13 percent, from a year earlier. Source
• Debt securities reduced further: Debt securities fell to $6.487 billion. The company selectively purchased securities with excess liquidity. Debt securities were 21 percent of total assets, down from 25 percent a year earlier. Source

Non-interest income

• Non-interest income rose 8 percent: Non-interest income was $41.1 million, up $3.0 million from the prior quarter and up $8.2 million, or 25 percent, from a year earlier. Source
• Deposit fees and payment services grew: Deposit service charges and other fees were $16.4 million, up 7 percent from the prior quarter. Payment services were $12.0 million, up 6 percent. Source
• Gain on loan sales edged down: Gain on sale of loans was $5.0 million, down $0.1 million from the prior quarter and up $0.7 million from a year earlier. Other income was $5.2 million. Source

“The continued increase in the earning assets yield combined with decreases in core deposit costs and wholesale funding contributed to the 10 basis points increase in the net interest margin as it expanded to 3.90 percent in the current quarter.”

Ron Copher, Chief Financial Officer

Expenses, acquisition costs and tax

• Expenses fell as acquisition costs eased: Non-interest expense was $186.7 million, down $13.8 million from the prior quarter and up $31.6 million, or 20 percent, from a year earlier, mainly from the acquired banks. Source
• Acquisition-related expense fell to $1.6 million: Acquisition-related expense was $1.6 million, against $8.9 million in the prior quarter and $3.2 million a year earlier. Other expenses fell $12.3 million. Source
• Staff costs rose with acquired banks: Compensation and employee benefits were $116.3 million, up $21.9 million, or 23 percent, from a year earlier, from annual salary increases and acquired-bank staffing. Source
• Efficiency ratio fell to 56.65 percent: Efficiency ratio was 56.65 percent, against 63.05 percent in the prior quarter and 62.08 percent a year earlier. The operating efficiency ratio, a non-GAAP measure, was 56.21 percent. Source
• Tax expense rose on higher pre-tax income: Tax expense was $26.6 million, up $8.6 million from the prior quarter. The effective rate rose to 21.4 percent from 18.0 percent, with federal tax credits lower. Source

Credit quality and provision

• Non-performing assets rose 16 percent: Non-performing assets were $91.8 million, up $12.4 million from the prior quarter and up $43.2 million, or 89 percent, from a year earlier. Non-accrual loans were $74.4 million. Source
• Provision for credit losses was $6.4 million: Provision was $6.4 million: $10.1 million on loans, partly offset by a $3.7 million benefit on unfunded loan commitments. Source
• Net charge-offs rose to $5.9 million: Net charge-offs were $5.9 million, including $2.8 million of deposit overdraft net charge-offs and $3.1 million of net loan charge-offs. Source
• Early delinquencies declined: Accruing loans 30-89 days past due were $65.5 million, down $26.3 million from the prior quarter and up $11.1 million from a year earlier. Source
• Allowance held at 1.22 percent: Allowance on loans was 1.22 percent of total loans, unchanged from the prior quarter and year-end. The allowance covered 288 percent of non-performing loans. Source

Capital, book value and dividend

• Tangible book value rose 2 percent: Tangible book value per share was $21.81, up $0.52 from the prior quarter and $2.02, or 10 percent, from a year earlier. Book value per share was $33.13. Source
• Tangible equity grew on earnings retention: Tangible equity was $2.839 billion, up $69 million from the prior quarter. Tangible equity to tangible assets was 9.42 percent, up from 9.15 percent. Source
• Quarterly dividend of $0.33 declared: The Board declared a $0.33 per share quarterly dividend, the 165th consecutive regular dividend, payable July 16, 2026 to holders of record on July 7, 2026. Source

Acquisition, workforce and pay

• Guaranty conversion completed: The company completed the core system conversion of Guaranty, which was acquired October 1, 2025 with total assets of $3.357 billion. Source
• Full-time staff slightly lower: Full-time equivalent employees were 4,125 at quarter end, down from 4,139 in the prior quarter and up from 3,665 a year earlier. Locations were unchanged at 282. Source
• Acquisition-linked employment pay totaled $2.5 million: Compensation included $2.5 million of acquisition-related employment agreement expense, down from $2.8 million in the prior quarter. Source

Figures management reported

Risks management discussed

• Financial: Management said future allowance levels depend on loan growth, credit quality, economic forecasts and other factors. Source
• Operational: Acquisition-related expense for the first half was $10.5 million, against $3.8 million a year earlier. Source

Other quarters

• Q1 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 earnings call
• Q2 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.