10-Q · May 1, 2026
Glacier Bancorp reported disappointing Q1 2026 results with diluted EPS of $0.70, exceeding consensus estimates of $0.67 but falling short of revenue expectations, reporting $268.7 million compared to the estimated…
Earnings analysis · 10-Q
GBCI earnings analysis
Filed August 4, 2026 · Our reading of the company's report
The latest report
Glacier Bancorp delivered diluted EPS of $0.76, improving from $0.63 sequentially and $0.45 a year earlier, while reported revenue of $276.428 million was below both the $400 million prior quarter and $341 million…
Read full summary
Glacier Bancorp delivered diluted EPS of $0.76, improving from $0.63 sequentially and $0.45 a year earlier, while reported revenue of $276.428 million was below both the $400 million prior quarter and $341 million prior-year quarter. First-half earnings benefited from a $147.919 million year-over-year increase in tax-equivalent net interest income, supported by loan growth, loan yields and funding-cost improvement. The constructive earnings and capital/liquidity position are offset by material asset-quality deterioration, including an 89% year-over-year rise in non-performing assets to $91.849 million. Free cash flow, gross margin, operating margin, and reportable segment revenue were not available in the provided filing extract.
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Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.76
What stood out
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EPS rose sequentially and year over year
Diluted EPS was $0.76, up $0.13 from $0.63 in 1Q26 and up $0.31 from $0.45 in 2Q25.
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Revenue declined versus prior periods
Reported revenue was $276.428 million, versus $400 million in 1Q26 and $341 million in 2Q25.
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First-half earnings and NII expanded
First-half net income increased to $180.006 million from $107.349 million in the prior-year first half. Tax-equivalent net interest income increased $147.919 million year over year, driven by loan growth, higher loan yields, lower-cost borrowings, and lower deposit costs.
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Loans grew while deposits remained stable
Loans receivable reached $21.364 billion, up $435.927 million, or 2%, from $20.928 billion at December 31, 2025; deposits increased $63.021 million to $24.654 billion.
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Liquidity and capital buffers remain strong
Liquidity capacity was substantial: available FHLB capacity was $5.405 billion, FRB discount-window availability was $2.286 billion, and unsecured lines available were $540.0 million. The bank’s CET1 ratio was 12.99%, above the 7.00% minimum plus conservation buffer.
What to watch
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Asset-quality deterioration accelerated
Non-performing assets rose to $91.849 million, up $12.354 million, or 16%, from $79.495 million in 1Q26 and up $43.243 million, or 89%, from $48.606 million in 2Q25. Non-accrual loans were $74.441 million, or 0.35% of total loans.
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Large CRE concentration carries credit risk
Commercial real estate represented $14.155 billion, or 67%, of the $21.364 billion loan portfolio. The company cites elevated-rate pressure and stress in some metropolitan CRE markets; non-owner-occupied CRE non-accrual loans were $24.176 million.
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Charge-offs and reserve coverage worsened
Net charge-offs were $8.933 million for the first half of 2026, versus $3.440 million in the prior-year period. The allowance remained 1.22% of loans, while allowance coverage of non-accrual loans fell to 349.30% from 641.47% a year earlier.
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No material risk-factor updates disclosed
Item 1A states there were no material changes from the risks disclosed in the 2025 Annual Report on Form 10-K; therefore, the filing does not identify a newly added or revised risk factor.
Management's outlook
The 10-Q provides no quantitative revenue or EPS outlook. Management’s interest-rate sensitivity analysis is explicitly not a forecast; under a +200 bp rate shock, modeled net-interest-income sensitivity is +1.93% over one year and +6.06% over two years.
Earlier filings 4
10-K · February 25, 2026
Glacier Bancorp grew materially in 2025 via strong net interest income and acquisitions: net interest income rose to $889.0M and net income to $239.0M, while total assets increased to $31.98B. Growth was driven by loan…
10-Q · October 31, 2025
Glacier Bancorp reported materially stronger quarter-over-quarter and year-over-year banking performance: net interest income rose to $225,379,000 (Q3 2025) and net income increased to $67,900,000 (Q3 2025), driving…
10-Q · August 2, 2024
Glacier Bancorp reported Q2 2024 diluted EPS of $0.39 and net income of $44,708,000, down from $0.50 and $54,955,000 in Q2 2023. Net interest income fell to $166,478,000 while non-interest income rose to $32,204,000;…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.