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1. Company Snapshot

1.a. Company Description

Glacier Bancorp, Inc.operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States.It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.


The company also provides construction and permanent loans on residential real estate; consumer land or lot acquisition loans; unimproved land and land development loans; and residential builder guidance lines comprising pre-sold and spec-home construction, and lot acquisition loans.In addition, it offers commercial real estate loans to purchase, construct, and finance commercial real estate properties; consumer loans secured by real estate, automobiles, or other assets; paycheck protection program loans; home equity loans consisting of junior lien mortgages, and first and junior lien lines of credit secured by owner-occupied 1-4 family residences; and agriculture loans.Further, the company provides mortgage origination and loan servicing services.


It has 224 locations, including 188 branches and 36 loan or administration offices in 75 counties within 8 states comprising Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada.The company was founded in 1955 and is headquartered in Kalispell, Montana.

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1.b. Last Insights on GBCI

Glacier Bancorp's recent performance was driven by several positive factors. The company's acquisition of Guaranty Bancshares, which added $3.11 billion in assets, is expected to materially impact upcoming financials. Additionally, Glacier Bancorp's Q4 earnings call highlighted 2025 as a "transformative year" with record balance sheet growth and expanding profitability metrics. Analysts have given the stock an average rating of "Buy" with five research analysts rating it a buy and one a strong buy. Institutional investors have also shown interest, with World Investment Advisors and Creative Planning acquiring new shares.

1.c. Company Highlights

2. Glacier Bancorp's Q4 2025 Earnings: A Strong Finish to a Record Year

Glacier Bancorp reported a net income of $63.8 million for Q4 2025, with total assets reaching a record $32 billion. The company's loan portfolio stood at $21 billion, and total deposits were $24.6 billion. Net interest margin (NIM) expanded to 3.58%, up 19 basis points from the prior quarter and 61 basis points from the prior year. Earnings per share (EPS) came in at $0.49, missing estimates of $0.59. Revenue growth is expected to be around 8.2% next year, driven by the company's strategic acquisitions and organic growth.

Publication Date: Feb -09

📋 Highlights
  • Total Assets Growth:: Surpassed $32 billion in Q4 2025, up from $30 billion in Q3, with net income of $63.8 million (including $36 million in acquisition costs).
  • Loan and Deposit Expansion:: Loan portfolio grew to $21 billion (+11% QoQ), while deposits reached $24.6 billion (+12% QoQ) in 2025.
  • Net Interest Margin Progress:: Increased to 3.58% in Q4 2025, up 61 basis points YoY, with a target of 4% expected by mid-2026.
  • Asset Repricing Impact:: $2–2.5 billion in assets will reprice in 2026, generating 75–100 basis points in gains, independent of Fed rate cuts.
  • Efficiency and Cost Outlook:: Core noninterest expenses projected at $189–193 million for Q1 2026, with a full-year target of $750–766 million and efficiency ratio improvement to mid-50s.

Acquisition-Driven Growth

The company's two strategic acquisitions, Bank of Idaho and Guaranty Bank & Trust, drove the strong financial performance in Q4 2025. The acquisitions contributed to the growth in the loan portfolio and total deposits. As Tom Dolan mentioned, the company expects low to mid-single-digit growth for the full year 2026, with a record level of pipeline early in the year.

Net Interest Margin Expansion

The company's NIM is expected to continue expanding, with Byron Pollan stating that they expect to hit 4% at some point later in the year, possibly in the second half of 2026. The repricing of assets is expected to be a strong driver, with $2 billion to $2.5 billion of repricing expected in 2026. This should contribute to further margin expansion.

Valuation and Dividend Yield

Glacier Bancorp's Price-to-Tangible Book Value (P/TBV) can be derived from the given 'P/B Ratio' of 1.64, indicating a reasonable valuation. The Dividend Yield is 2.48%, providing a relatively stable income stream. Analysts should monitor the company's ability to maintain its dividend payout and continue its margin expansion.

Outlook and Guidance

The company's guidance for 2026 is positive, with expected core noninterest expense in the range of $750 million to $766 million. Randall Chesler stated that the company is not dependent on Fed cuts for its NIM growth, and the repricing of assets is expected to drive growth. The integration of Guaranty Bank & Trust has gone smoothly, with minimal disruption.

3. NewsRoom

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CENTRAL TRUST Co Takes Position in Glacier Bancorp, Inc. $GBCI

Feb -15

Source: defenseworld.net

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Glacier Bancorp, Inc. (NYSE:GBCI) Receives $56.50 Average PT from Brokerages

Feb -14

Source: defenseworld.net

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Glacier Bancorp Announces CFO Transition Ron Copher to Retire After 20 Years with Company

Feb -09

Source: globenewswire.com

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Critical Review: Glacier Bancorp (NYSE:GBCI) versus Hope Bancorp (NASDAQ:HOPE)

Feb -02

Source: defenseworld.net

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Glacier Bancorp (NYSE:GBCI) & Plumas Bancorp (NASDAQ:PLBC) Head to Head Comparison

Jan -31

Source: defenseworld.net

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Analyzing Glacier Bancorp (NYSE:GBCI) and Westamerica Bancorporation (NASDAQ:WABC)

Jan -29

Source: defenseworld.net

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Cooke & Bieler LP Cuts Holdings in Glacier Bancorp, Inc. $GBCI

Jan -26

Source: defenseworld.net

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Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Recommendation of “Buy” by Analysts

Jan -26

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (13.00%)

6. Segments

Banking and Related Activities

Expected Growth: 13%

Glacier Bancorp's 13% growth in Banking and Related Activities is driven by strong loan growth, fueled by a robust economy and increasing demand for commercial and residential loans. Additionally, the company's strategic acquisitions, expanded branch network, and enhanced digital banking capabilities have contributed to the growth. Furthermore, a favorable interest rate environment and effective cost management have also supported the segment's growth.

7. Detailed Products

Personal Banking

Glacier Bancorp offers a range of personal banking services, including checking and savings accounts, credit cards, personal loans, and home loans.

Business Banking

Glacier Bancorp provides business banking services, including commercial loans, lines of credit, cash management, and treasury management solutions.

Wealth Management

Glacier Bancorp offers wealth management services, including investment management, financial planning, and trust services.

Mortgage Lending

Glacier Bancorp provides mortgage lending services, including residential and commercial mortgage loans.

Treasury Management

Glacier Bancorp offers treasury management services, including cash management, wire transfers, and account reconciliation.

Online Banking

Glacier Bancorp provides online banking services, including online bill pay, mobile banking, and account access.

8. Glacier Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Glacier Bancorp, Inc. operates in a highly regulated industry, which limits the threat of substitutes. However, the rise of fintech companies and digital banking platforms poses a moderate threat to traditional banking services.

Bargaining Power Of Customers

Glacier Bancorp, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's strong brand reputation and customer loyalty programs further mitigate this threat.

Bargaining Power Of Suppliers

Glacier Bancorp, Inc. has a strong financial position, which gives it bargaining power over its suppliers. The company's suppliers are also diversified, reducing their bargaining power.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory hurdles and capital requirements. This limits the threat of new entrants and gives Glacier Bancorp, Inc. a competitive advantage.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Glacier Bancorp, Inc. faces intense rivalry from other banks and financial institutions, which can lead to pricing pressures and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 59.42%
Debt Cost 3.95%
Equity Weight 40.58%
Equity Cost 7.95%
WACC 5.57%
Leverage 146.45%

11. Quality Control: Glacier Bancorp, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Third Federal

A-Score: 5.9/10

Value: 1.6

Growth: 5.3

Quality: 3.9

Yield: 10.0

Momentum: 5.5

Volatility: 9.3

1-Year Total Return ->

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First Financial Bankshares

A-Score: 5.6/10

Value: 4.3

Growth: 5.8

Quality: 8.2

Yield: 5.0

Momentum: 2.0

Volatility: 8.3

1-Year Total Return ->

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Community Bank System

A-Score: 5.4/10

Value: 4.5

Growth: 5.1

Quality: 6.5

Yield: 6.0

Momentum: 2.5

Volatility: 7.7

1-Year Total Return ->

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Commerce Bancshares

A-Score: 5.3/10

Value: 4.4

Growth: 5.7

Quality: 7.1

Yield: 4.0

Momentum: 1.5

Volatility: 9.0

1-Year Total Return ->

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ServisFirst Bank

A-Score: 4.9/10

Value: 4.3

Growth: 7.1

Quality: 6.6

Yield: 3.0

Momentum: 2.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
Glacier Bancorp

A-Score: 4.8/10

Value: 3.9

Growth: 3.9

Quality: 7.4

Yield: 6.0

Momentum: 1.5

Volatility: 6.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

48.12$

Current Price

48.12$

Potential

-0.00%

Expected Cash-Flows