Glacier Bancorp Inc GBCI Stock Analysis

About Glacier Bancorp Inc

Glacier Bancorp, Inc., a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its eight state Western U.S. footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA). Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition (Dollars in thousands, except per share data) Dec 31, 2024 Sep 30, 2024 Dec 31, 2023 Assets Cash on hand and in banks $ 268,746 342,105 246,525 Interest bearing cash deposits 579,662 645,728 1,107,817 Cash and cash equivalents 848,408 987,833 1,354,342 Debt securities, available-for-sale 4,245,205 4,436,578 4,785,719 Debt securities, held-to-maturity 3,294,847 3,348,698 3,502,411 Total debt securities 7,540,052 7,785,276 8,288,130 Loans held for sale, at fair value 33,060 46,126 15,691 Loans receivable 17,261,849 17,181,187 16,198,082 Allowance for credit losses (206,041 ) (205,170 ) (192,757 ) Loans receivable, net 17,055,808 16,976,017 16,005,325 Premises and equipment, net 468,220 466,977 421,791 Other real estate owned and foreclosed assets 1,164 633 1,503 Accrued interest receivable 99,262 114,121 94,526 Deferred tax asset 138,955 125,432 159,070 Intangibles, net 51,182 52,780 31,870 Goodwill 1,051,318 1,053,556 985,393 Non-marketable equity securities 99,669 98,285 12,755 Bank-owned life insurance 189,849 188,971 171,101 Other assets 326,040 309,762 201,132 Total assets $ 27,902,987 28,205,769 27,742,629 Liabilities Non-interest bearing deposits $ 6,136,709 6,407,728 6,022,980 Interest bearing deposits 14,410,285 14,307,036 13,906,187 Securities sold under agreements to repurchase 1,777,475 1,831,501 1,486,850 FHLB advances 1,800,000 1,800,000 — FRB Bank Term Funding — — 2,740,000 Other borrowed funds 83,341 84,168 81,695 Subordinated debentures 133,105 133,065 132,943 Accrued interest payable 33,626 35,382 125,907 Other liabilities 304,592 361,839 225,786 Total liabilities 24,679,133 24,960,719 24,722,348 Commitments and Contingent Liabilities — — — Stockholders’ Equity Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding — — — Common stock, $0.01 par value per share, 234,000,000 shares authorized 1,134 1,134 1,109 Paid-in capital 2,448,758 2,447,200 2,350,104 Retained earnings - substantially restricted 1,083,258 1,059,022 1,043,181 Accumulated other comprehensive loss (309,296 ) (262,306 ) (374,113 ) Total stockholders’ equity 3,223,854 3,245,050 3,020,281 Total liabilities and stockholders’ equity $ 27,902,987 28,205,769 27,742,629 Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations Three Months ended Year ended (Dollars in thousands, except per share data) Dec 31, 2024 Sep 30, 2024 Dec 31, 2023 Dec 31, 2024 Dec 31, 2023 Interest Income Investment securities $ 50,381 46,371 57,233 195,135 201,930 Residential real estate loans 23,960 23,118 19,820 89,596 71,328 Commercial loans 199,260 196,901 175,957 765,959 669,663 Consumer and other loans 23,435 23,188 20,486 89,160 74,734 Total interest income 297,036 289,578 273,496 1,139,850 1,017,655 Interest Expense Deposits 67,079 70,607 63,484 272,734 162,426 Securities sold under agreements to repurchase 14,822 14,737 12,229 55,723 36,414 Federal Home Loan Bank advances 21,848 22,344 — 72,620 26,910 FRB Bank Term Funding — — 30,228 27,097 93,388 Other borrowed funds 348 252 (372 ) 1,297 1,056 Subordinated…