GLACIER BANCORP, INC.

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

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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.

FY2025 · Filed Feb 25, 2026

GBCI$48.79-0.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years ended
(Dollars in thousands)	December 31,2025	December 31,2024	December 31,2023
Operating Activities
Net income	$239,028	190,144	222,927
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	71,400	28,306	14,795
Net amortization of debt securities	9,917	13,153	15,506
Net amortization of purchase accounting adjustments and deferred loan fees and costs	(7,980)	(5,983)	(5,347)
Origination of loans held for sale	(779,966)	(665,181)	(435,649)
Proceeds from loans held for sale	792,046	738,134	549,778
Gain on sale of loans	(18,205)	(16,855)	(12,202)
Gain on sale of securities	—	(30)	(1,510)
Bank-owned life insurance income, net	(4,961)	(4,476)	(3,849)
Stock-based compensation, net of tax benefits	6,345	5,694	5,929
Depreciation and amortization	33,027	28,907	27,412
Loss (gain) on dispositions of premises and equipment	224	(5,100)	160
Loss (gain) on sale and write-downs of other real estate owned, net	157	(1,124)	(321)
Deferred tax (benefit) expense	(4,066)	2,608	507
Amortization of core deposit and other intangibles	15,887	12,757	9,731
Amortization of investments in variable interest entities	28,022	24,054	20,515
Net (increase) decrease in accrued interest receivable	(3,687)	877	(10,989)
Net (increase) decrease in other assets	(10,217)	8,856	(9,961)
Net (decrease) increase in accrued interest payable	(6,836)	(93,693)	121,576
Net decrease in operating lease liabilities	(5,756)	(3,418)	(3,500)
Net increase (decrease) in other liabilities	20,020	407	(4,793)
Net cash provided by operating activities	374,399	258,037	500,715
Investing Activities
Sales of debt securities, available-for-sale	318,128	237,502	29,972
Maturities, prepayments and calls of available-for-sale debt securities	1,978,346	609,118	621,878
Purchases of available-for-sale debt securities	(1,127,615)	(50,148)	—
Maturities, prepayments and calls of held-to-maturity debt securities	198,491	204,645	209,909
Purchases of held-to-maturity debt securities	(13,723)	—	—
Termination of interest rate swaps	—	(19,825)	—
Net change in loans	(494,807)	(431,641)	(1,067,407)
Proceeds from sale of premises and equipment	5,327	14,375	251
Net additions to premises and equipment	(26,848)	(48,277)	(49,534)
Proceeds from sale of other real estate owned	2,963	2,337	391
Proceeds from redemption of equity securities	67,930	149,873	630,584
Purchases of equity securities	(1,693)	(233,288)	(559,601)
Proceeds from bank-owned life insurance	3,402	417	1,787
Investments in variable interest entities	(50,485)	(49,631)	(25,722)
Net cash received from acquisitions	205,009	107,684	—
Net cash provided by (used in) investing activities	1,064,425	493,141	(207,492)

	Years ended
(Dollars in thousands)	December 31, 2025	December 31, 2024	December 31, 2023
Financing Activities
Net increase (decrease) in deposits	$259,227	(394,570)	(676,652)
Net increase in securities sold under agreements to repurchase	285,744	286,320	540,934
Net decrease in short-term Federal Home Loan Bank advances	(48,000)	(58,500)	(1,800,000)
Proceeds from short-term Federal Reserve Bank Term Funding	—	—	2,740,000
Repayments of short-term Federal Reserve Bank Term Funding	—	(2,740,000)	—
Proceeds from long-term Federal Home Loan Bank advances	—	1,800,000	—
Repayments of long-term Federal Home Loan Bank advances	(1,360,000)	—	—
Net (decrease) increase in other borrowed funds	(20,588)	5,149	6,915
Principal payments on finance lease liabilities	(4,050)	(3,852)	(3,588)
Cash dividends paid	(162,736)	(150,034)	(146,690)
Tax withholding payments for stock-based compensation	(2,627)	(1,738)	(1,870)
Proceeds from stock option exercises	1,059	113	75
Net cash (used in) provided by financing activities	(1,051,971)	(1,257,112)	659,124
Net increase (decrease) in cash and cash equivalents	386,853	(505,934)	952,347
Cash, cash equivalents at beginning of period	848,408	1,354,342	401,995
Cash, cash equivalents at end of period	$1,235,261	848,408	1,354,342
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	$413,593	528,911	204,397
Cash paid during the period for income taxes	32,160	15,604	27,932
Supplemental Disclosure of Non-Cash Investing Activities
Sale and refinancing of other real estate owned	$—	6	22
Transfer of loans to other real estate owned	2,367	879	1,563
Right-of-use assets obtained in exchange for new lease liabilities	12,523	395	1,979
Equity investments obtained in exchange or delayed equity contributions	37,065	33,982	37,068
Dividends declared during the period but not paid	372	388	370
Acquisitions
Fair value of common stock shares issued	764,963	92,385	—
Cash consideration	3	26,009	—
Fair value of assets acquired	4,720,721	1,180,757	—
Liabilities assumed	3,955,755	1,087,601	—

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