GLACIER BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
GBCI$48.79-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years ended | |||
|---|---|---|---|
| (Dollars in thousands) | December 31,2024 | December 31,2023 | December 31,2022 |
| Operating Activities | |||
| Net income | $190,144 | 222,927 | 303,202 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 28,306 | 14,795 | 19,963 |
| Net amortization of debt securities | 13,153 | 15,506 | 29,587 |
| Net amortization of purchase accounting adjustments and deferred loan fees and costs | (5,983) | (5,347) | 2,789 |
| Origination of loans held for sale | (665,181) | (435,649) | (743,212) |
| Proceeds from loans held for sale | 738,134 | 549,778 | 844,940 |
| Gain on sale of loans | (16,855) | (12,202) | (20,032) |
| Gain on sale of securities | (30) | (1,510) | (620) |
| Bank-owned life insurance income, net | (4,476) | (3,849) | (3,579) |
| Stock-based compensation, net of tax benefits | 5,694 | 5,929 | 5,366 |
| Depreciation and amortization of premises and equipment | 28,907 | 27,412 | 25,830 |
| (Gain) loss on dispositions of premises and equipment | (5,100) | 160 | (3,047) |
| Gain on sale and write-downs of other real estate owned, net | (1,124) | (321) | (121) |
| Deferred tax expense | 2,608 | 507 | 2,177 |
| Amortization of core deposit and other intangibles | 12,757 | 9,731 | 10,658 |
| Amortization of investments in variable interest entities | 24,054 | 20,515 | 16,640 |
| Net decrease (increase) in accrued interest receivable | 877 | (10,989) | (6,865) |
| Net decrease (increase) in other assets | 8,856 | (9,961) | (22,760) |
| Net (decrease) increase in accrued interest payable | (93,693) | 121,576 | 1,922 |
| Net (decrease) increase in other liabilities | (3,011) | (8,293) | 7,822 |
| Net cash provided by operating activities | 258,037 | 500,715 | 470,660 |
| Investing Activities | |||
| Sales of debt securities, available-for-sale | 237,502 | 29,972 | 326,302 |
| Maturities, prepayments and calls of available-for-sale debt securities | 609,118 | 621,878 | 1,101,420 |
| Purchases of available-for-sale debt securities | (50,148) | — | (471,581) |
| Maturities, prepayments and calls of held-to-maturity debt securities | 204,645 | 209,909 | 211,700 |
| Purchases of held-to-maturity debt securities | — | — | (523,060) |
| Termination of interest rate swaps | (19,825) | — | — |
| Principal collected on loans | 4,007,266 | 2,946,294 | 5,432,753 |
| Loan originations | (4,438,907) | (4,013,701) | (7,296,411) |
| Proceeds from sale of premises and equipment | 14,375 | 251 | 10,525 |
| Net additions to premises and equipment | (48,277) | (49,534) | (33,763) |
| Proceeds from sale of other real estate owned | 2,337 | 391 | 1,014 |
| Proceeds from redemption of non-marketable equity securities | 149,873 | 630,584 | 366,467 |
| Purchases of non-marketable equity securities | (233,288) | (559,601) | (438,398) |
| Proceeds from bank-owned life insurance | 417 | 1,787 | 2,217 |
| Investments in variable interest entities | (49,631) | (25,722) | (40,967) |
| Net cash received from acquisitions | 107,684 | — | — |
| Net cash provided by (used in) investing activities | 493,141 | (207,492) | (1,351,782) |
| Years ended | |||
|---|---|---|---|
| (Dollars in thousands) | December 31, 2024 | December 31, 2023 | December 31, 2022 |
| Financing Activities | |||
| Net decrease in deposits | $(394,570) | (676,652) | (729,707) |
| Net increase (decrease) in securities sold under agreements to repurchase | 286,320 | 540,934 | (74,878) |
| Net (decrease) increase in short-term Federal Home Loan Bank advances | (58,500) | (1,800,000) | 1,800,000 |
| Proceeds from short-term FRB Bank Term Funding | — | 2,740,000 | — |
| Repayments of short-term FRB Bank Term Funding | (2,740,000) | — | — |
| Proceeds from long-term Federal Home Loan Bank advances | 1,800,000 | — | — |
| Net increase in other borrowed funds | 1,297 | 3,327 | 9,120 |
| Cash dividends paid | (150,034) | (146,690) | (157,540) |
| Tax withholding payments for stock-based compensation | (1,625) | (1,795) | (1,704) |
| Proceeds from stock option exercises | — | — | 140 |
| Net cash (used in) provided by financing activities | (1,257,112) | 659,124 | 845,431 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (505,934) | 952,347 | (35,691) |
| Cash, cash equivalents and restricted cash at beginning of period | 1,354,342 | 401,995 | 437,686 |
| Cash, cash equivalents and restricted cash at end of period | $848,408 | 1,354,342 | 401,995 |
| Supplemental Disclosure of Cash Flow Information | |||
| Cash paid during the period for interest | $528,911 | 204,397 | 39,339 |
| Cash paid during the period for income taxes | 15,604 | 27,932 | 55,197 |
| Supplemental Disclosure of Non-Cash Investing Activities | |||
| Transfer of debt securities from held-to-maturity to available-for-sale | $— | — | 2,154,475 |
| Sale and refinancing of other real estate owned | 6 | 22 | — |
| Transfer of loans to other real estate owned | 879 | 1,563 | 97 |
| Right-of-use assets obtained in exchange for new lease liabilities | 395 | 1,979 | 25,048 |
| Equity investments obtained in exchange or delayed equity contributions | 33,982 | 37,068 | 57,171 |
| Dividends declared during the period but not paid | 388 | 370 | 346 |
| Acquisitions | |||
| Fair value of common stock shares issued | 92,385 | — | — |
| Cash consideration | 26,009 | — | — |
| Fair value of assets acquired | 1,180,757 | — | — |
| Liabilities assumed | 1,087,601 | — | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.