KALISPELL, Mont., May 01, 2025 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (“Glacier”) (NYSE: GBCI), today announced the completion of its acquisition of Bank of Idaho Holding Co. (“BOID”) (OTCQX: BOID), the bank holding company for Bank of Idaho, a community bank headquartered in Idaho Falls, Idaho. The Bank of Idaho operations will join three existing Glacier Bank divisions: the Eastern Idaho operations of Bank of Idaho will join Citizens Community Bank, the Boise operations will join Mountain West Bank, an ...

Financial Data and Key Metrics Changes - Diluted earnings per share for the current quarter was $0.48, an increase of 66% from the prior year first quarter [5] - Net income was $54.6 million for the current quarter, an increase of $21.9 million or 67% from the prior year first quarter [5] - The net interest margin for the current quarter was 3.04%, an increase of seven basis points from the prior quarter and an increase of 45 basis points from the prior year first quarter [5][6] - Total deposits of $20.6 billion increased by $87.1 million or 2% annualized during the current quarter [7] - Total loans of $17 billion decreased by $48 million from the prior quarter due to accelerated payoffs [7] - Noninterest income ended the quarter at $33 million, which increased 9% versus the first quarter a year ago [9] - Tangible stockholders' equity of $2.2 billion at the end of the quarter increased $67 million or 3% compared to the prior quarter [11] Business Line Data and Key Metrics Changes - The margin has increased for five consecutive quarters, with expectations for continued growth throughout the year [6] - The total cost of funding, including noninterest-bearing deposits, was 1.68% in the current quarter, decreasing three basis points from the prior quarter [6] - The loan yield of 5.77% in the current quarter increased five basis points from the prior quarter and increased 31 basis points from the prior year first quarter [6] Market Data and Key Metrics Changes - Customers acknowledge uncertainty in the economy but have not indicated plans to pull back on projects [8] - The credit portfolio continues to perform at near record levels, with an allowance for credit loss increased to 1.22% of total loans from 1.19% last quarter [10] Company Strategy and Development Direction - The company is strategically expanding its presence through acquisitions, including the proposed acquisition of Bank of Idaho, which is expected to close at the end of the month [13][14] - The company has demonstrated the ability to find good banks and markets to partner with, regardless of the broader M&A environment [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the future despite current economic uncertainties and does not expect material credit deterioration [10] - The company expects to maintain a core noninterest expense guide of $151 to $152 million per quarter for the remainder of 2025 [31] Other Important Information - The company declared a quarterly dividend of 33¢ per share, marking 60 consecutive quarterly dividends [12] - The company is maintaining a strong pipeline for loan growth, with expectations for low to mid single-digit growth for the year [78] Q&A Session Summary Question: Margin discussion and structural margin progression - Management confirmed that structural drivers for margin growth are still in place, with expectations for continued growth throughout the year [20][24] Question: Bank of Idaho deal and expected margin contribution - The Bank of Idaho is expected to contribute four basis points of margin lift to the organization [26] Question: Expense guidance and performance-based compensation - Core noninterest expense guidance for 2025 is reiterated at $151 to $154 million per quarter, with adjustments for the Bank of Idaho acquisition [28][33] Question: M&A discussions in Southwest markets - Management confirmed ongoing conversations in the Southwest and Mountain West regions, with a focus on finding the right partners [36][38] Question: Spot rate on deposits and average margin - The spot rate at March 31 was 1.24%, and the margin for March was 3.05% [44] Question: Nonaccruals and credit issues - Nonaccruals were centered in one relationship, with no expected loss [46] Question: Impact of tariffs on construction activity - Customers are managing costs effectively, and there is no significant distress reported [49][50] Question: FHLB borrowings and balance sheet expectations - Management provided details on FHLB borrowings maturing throughout the year and expectations for using cash flow to pay down borrowings [59][60] Question: Competitive landscape and loan yields - The company maintains good spreads on production and has not seen irrational underwriting practices [100][101]

Glacier Bancorp, Inc. (NYSE:GBCI) Q1 2025 Earnings Conference Call April 25, 2025 11:00 AM ET Company Participants Randall Chesler - President and Chief Executive Officer Byron Pollan - Treasurer Ron Copher - Chief Financial Officer Tom Dolan - Chief Credit Administrator Conference Call Participants Jeffrey Rulis - D.A. Davidson & Co. Matthew Clark - Piper Sandler & Co. Andrew Terrell - Stephens Inc. Kelly Motta - Keefe, Bruyette, & Woods, Inc. Timothy Coffey - Janney Montgomery Scott David Feaster - Raymon ...

Group 1: Earnings Performance - Glacier Bancorp reported quarterly earnings of $0.48 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.29 per share a year ago [1] - The company had a surprise of 1.89% in the previous quarter, posting earnings of $0.54 per share against an expected $0.53 [1] - Over the last four quarters, Glacier Bancorp has surpassed consensus EPS estimates three times [1] Group 2: Revenue Performance - The company posted revenues of $222.62 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.21%, but up from $196.47 million year-over-year [2] - Glacier Bancorp has topped consensus revenue estimates two times over the last four quarters [2] Group 3: Stock Performance and Outlook - Glacier Bancorp shares have declined approximately 16.7% since the beginning of the year, compared to a decline of 8.6% for the S&P 500 [3] - The company's earnings outlook is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market [6] - The current consensus EPS estimate for the coming quarter is $0.48 on revenues of $242.7 million, and for the current fiscal year, it is $2.31 on $1 billion in revenues [7] Group 4: Industry Context - The Zacks Industry Rank for Banks - West is currently in the bottom 42% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

NEWS RELEASE April 24, 2025 FOR IMMEDIATE RELEASE CONTACT: Randall M. Chesler, CEO (406) 751-4722 Ron J. Copher, CFO (406) 751-7706 GLACIER BANCORP, INC. ANNOUNCES RESULTS FOR THE QUARTER AND PERIOD ENDED MARCH 31, 2025 1st Quarter 2025 Highlights: 1 • Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of ...

1st Quarter 2025 Highlights: Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of $0.29 per share.Net income was $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent, from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the p ...

1st Quarter 2025 Highlights: Diluted earnings per share for the current quarter was $0.48 per share, a decrease of 11 percent from the prior quarter diluted earnings per share of $0.54 per share and an increase of 66 percent from the prior year first quarter diluted earnings per share of $0.29 per share.Net income was $54.6 million for the current quarter, a decrease of $7.2 million, or 12 percent, from the prior quarter net income of $61.8 million and an increase of $21.9 million, or 67 percent, from the p ...

In its upcoming report, Glacier Bancorp (GBCI) is predicted by Wall Street analysts to post quarterly earnings of $0.48 per share, reflecting an increase of 65.5% compared to the same period last year. Revenues are forecasted to be $225.35 million, representing a year-over-year increase of 14.7%.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a c ...

Core Viewpoint - Glacier Bancorp, Inc. has received all necessary regulatory approvals for its acquisition of Bank of Idaho Holding Co. and its bank subsidiary, Bank of Idaho, with the transaction expected to close on April 30, 2025, pending shareholder approval on April 21, 2025 [1] Company Overview - Glacier Bancorp, Inc. is the parent company of Glacier Bank and operates multiple bank divisions across various states, including Altabank, Bank of the San Juans, Citizens Community Bank, and others [2] Regulatory and Transaction Details - The acquisition of Bank of Idaho Holding Co. involves a merger agreement that requires the approval of BOID shareholders, which is scheduled for a special meeting on April 21, 2025 [1] - A Registration Statement on Form S-4 has been filed with the SEC, which includes a Proxy Statement of BOID and a Prospectus of Glacier, providing important information regarding the proposed merger [5]

Company Overview - As of December 31, 2024, Glacier Bancorp, Inc. operates 227 locations across eight states, with a focus on retail and business banking services[20]. - The company employed 3,595 persons as of December 31, 2024, with 3,313 in full-time positions[26]. - The company has a comprehensive employee benefit program, including health, dental, and vision insurance, as well as a Profit Sharing and 401(k) Plan[30]. - The company’s market area is diversified, focusing on tourism, construction, mining, energy, and agriculture[22]. - The company has established a Training Committee to enhance employee training and compliance with internal policies[28]. Acquisitions and Growth - The company completed acquisitions totaling approximately $5.1 billion in assets over the last five fiscal years, including Rocky Mountain Bank branches and Wheatland Bank[21]. - The company announced a definitive agreement to acquire Bank of Idaho Holding Co. on January 13, 2025[21]. - The company has historically expanded through internal growth and selective acquisitions, but future market and regulatory conditions may hinder this growth[92]. - The company anticipates issuing capital stock for future acquisitions, which may dilute earnings per share and reduce current shareholders' ownership percentage[95]. - The company completed two acquisitions in 2024, including Community Financial Group, Inc. with total assets of $778 million[168]. Financial Performance - Net income for 2024 was $190 million, a decrease of $32.8 million, or 15%, compared to $223 million in 2023[164]. - Diluted earnings per share for 2024 decreased by 16% to $1.68 from $2.01 in 2023[164]. - Net interest income increased by $13 million, or 2%, to $705 million in 2024, driven by higher interest income[164]. - Total assets at year-end 2024 were $27.903 billion, a $160 million, or 1%, increase from the previous year[166]. - Total deposits increased by $618 million, or 3%, to $20.547 billion, primarily due to acquisitions[166]. Regulatory Environment - The company is subject to regulation by the Federal Reserve and the Montana Division of Banking, among other regulatory bodies[35]. - The Bank's deposits are insured by the FDIC and are subject to primary supervision and regulation by the FDIC and the MT Division of Banking[45]. - The Dodd-Frank Act has significantly changed the bank regulatory structure, impacting lending, deposit, investment, trading, and operating activities[57]. - The Dodd-Frank Act established the Consumer Financial Protection Bureau, which focuses on consumer protection laws and has increased enforcement actions against financial institutions[61]. - The company is subject to periodic examinations by regulators, with total consolidated assets exceeding $10 billion, leading to direct supervision and enforcement actions by the CFPB[67]. Risk Management - The company is continually monitoring developments in cybersecurity regulations and is expected to comply with evolving standards[85]. - The Company has implemented a rigorous internal audit process to evaluate its cybersecurity strategies, with regular updates provided to the Audit Committee[133]. - The Company employs cybersecurity insurance to mitigate the financial impact of potential cybersecurity incidents[133]. - The Company has established a dedicated department within its Enterprise Risk Management division to manage risks associated with third-party service providers[135]. - The Board's Risk Oversight Committee is responsible for monitoring the Company's cyber risk management profile and receives quarterly reports from the Chief Risk Officer[136]. Credit and Loan Portfolio - The loan portfolio has a high concentration of commercial and commercial real estate loans, increasing exposure to credit risks[100]. - The allowance for credit losses may not be adequate to cover actual loan losses, potentially requiring material increases in the allowance[99]. - Non-performing assets may increase, adversely affecting earnings and requiring significant management resources[102]. - The Company employs stringent credit policies and regular monitoring of the loan portfolio to manage credit risk[214]. - Ongoing monitoring of the loan portfolio includes monthly inspections and assessments of borrowers' creditworthiness and project performance[215]. Market Conditions and Competition - The company faces significant competition in its market areas, which may limit future success and impact financial conditions[91]. - The company faces competition from emerging technologies and non-traditional financial service providers, which may pressure earnings[106]. - The economic conditions in the markets served by the company may adversely impact earnings and increase credit risk associated with its loan portfolio[90]. - Fluctuating interest rates could adversely affect the bank's profitability and shareholders' equity, with the Federal Reserve decreasing rates three times in 2024[107]. - Environmental liability risks associated with lending activities could lead to significant remediation costs and affect property values[105]. Shareholder Information - The Company declared total regular cash dividends of $1.32 per share in 2024[149]. - The closing price per share of the Company's common stock on December 31, 2024, was $50.22[148]. - The Company's common stock has shown a cumulative total return of 128.28% from December 31, 2019, to December 31, 2024[151]. - The Company has 1,968 stockholders of record as of December 31, 2024[148]. Asset Management - The Company has $1.051 billion in goodwill, representing 33% of shareholders' equity, which could have a material adverse effect if impaired[96]. - The fair value of the investment portfolio could decline, adversely affecting earnings and capital[103]. - Total debt securities decreased by $748 million, or 9 percent, to $7.540 billion, representing 27 percent of total assets as of December 31, 2024[171]. - The Company has a total of $3,383,435 thousand in mortgage-backed securities, with a yield of 1.80%[198]. - The Company maintains a diversified office portfolio, primarily located in suburban and rural markets, mitigating risks associated with central business district office buildings[203].