GLACIER BANCORP INC

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

GBCI$49.08+1.9%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Years ended
(Dollars in thousands, except per share data)	December 31,2023	December 31,2022	December 31,2021
Interest Income
Investment securities	$201,930	169,035	122,099
Residential real estate loans	71,328	57,243	43,300
Commercial loans	669,663	548,969	471,061
Consumer and other loans	74,734	54,393	44,614
Total interest income	1,017,655	829,640	681,074
Interest Expense
Deposits	162,426	14,526	12,135
Securities sold under agreements to repurchase	36,414	3,200	2,303
Federal Home Loan Bank advances	26,910	17,317	—
FRB Bank Term Funding	93,388	—	—
Other borrowed funds	1,056	1,329	713
Subordinated debentures	5,779	4,889	3,407
Total interest expense	325,973	41,261	18,558
Net Interest Income	691,682	788,379	662,516
Provision for credit losses	14,795	19,963	23,076
Net interest income after provision for credit losses	676,887	768,416	639,440
Non-Interest Income
Service charges and other fees	75,157	72,124	59,317
Miscellaneous loan fees and charges	16,935	15,350	12,038
Gain on sale of loans	12,202	20,032	63,063
Gain (loss) on sale of securities	1,510	620	(638)
Other income	12,275	12,606	11,040
Total non-interest income	118,079	120,732	144,820
Non-Interest Expense
Compensation and employee benefits	309,048	319,303	270,644
Occupancy and equipment	43,578	43,261	39,394
Advertising and promotions	15,430	14,324	11,949
Data processing	33,752	30,823	23,470
Other real estate owned and foreclosed assets	119	77	236
Regulatory assessments and insurance	28,712	12,904	8,249
Core deposit intangibles amortization	9,731	10,658	10,271
Other expenses	86,988	87,518	70,609
Total non-interest expense	527,358	518,868	434,822
Income Before Income Taxes	267,608	370,280	349,438
Federal and state income tax expense	44,681	67,078	64,681
Net Income	$222,927	303,202	284,757
Basic earnings per share	$2.01	2.74	2.87
Diluted earnings per share	$2.01	2.74	2.86
Dividends declared per share	$1.32	1.32	1.37
Average outstanding shares - basic	110,864,501	110,757,473	99,313,255
Average outstanding shares - diluted	110,890,447	110,827,933	99,398,250

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.