Glacier Bancorp (GLC) Q3 2026 Earnings Report
DE:GLC Q3 2026 EPS Results
- Actual EPS
- EUR 0.71
- Consensus EPS
- EUR 0.70
- Beat/Miss
- Beat by +EUR 0.01
- One Year Ago EPS
- EUR 0.51
DE:GLC Q3 2026 Revenue Results
- Actual Revenue
- EUR 374.11M
- Expected Revenue
- EUR 295.75M
- Beat/Miss
- Beat by +EUR 78.36M
- YoY Revenue Growth
- +16.52%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/22/2026
- Time
- After Close
- Conference Call
- Thursday, October 22, 2026
DE:GLC Upcoming Earnings
Glacier Bancorp's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:GLC Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with record net income, accelerating year-over-year earnings, a net interest margin above 4% for the first time, broad-based deposit growth, disciplined loan growth, excellent credit quality, improved efficiency, and additional asset repricing opportunities. The main cautions were seasonal loan-growth moderation, potential increases in deposit costs, expenses expected near the high end of guidance, economic and geopolitical uncertainty, and a nonrecurring fair value benefit in prior-quarter noninterest income. Highlights significantly outweighed the lowlights.
Company Guidance
Management remains comfortable with its low to mid-single-digit outlook for loan growth; investment cash flows are being reinvested roughly 350 basis points higher than the current runoff yield, approximately $3.5 billion of loans will reprice up 125 to 150 basis points in the next 12 months, and margin is expected to continue expanding throughout ’27. Historically, margin has been 4% to 4.5%, with some things that could lift it towards the higher end of the range, although management cannot put a time frame on reaching 4.5%. Deposit beta is expected to be somewhere in the range of 20% to 25%, with early-cycle beta closer to the lower end. Fourth-quarter expenses are guided to $187 million to $192 million, likely towards the high end, while full-year expenses should remain within $750 million to $760 million, probably closer to $757 million; fourth-quarter efficiency is expected to be 54% to 55%. Securities runoff will likely be reinvested, other fees are expected to have a $40 million run rate, and the tax rate is expected to come in right around 21% for the fourth quarter and right around 21% for the full year.
- Record Net Income and Earnings GrowthThird-quarter net income reached a company-record $105 million, exceeding $100 million for the first time. Net income increased 7% from the prior quarter and 54% from the third quarter of last year. Diluted earnings per share were $0.80, up 7% sequentially and 40% year over year, while operating diluted earnings per share were $0.81, up 7% sequentially and 31% year over year.
- Eleventh Consecutive Quarter of Margin ExpansionNet interest income increased to $290 million, up 5% from the second quarter and 29% from the third quarter of last year. Tax-equivalent net interest margin expanded to 4.01%, up 11 basis points sequentially and 62 basis points year over year, marking the 11th consecutive quarter of margin expansion and crossing the 4% threshold.
- Strong Pretax, Pre-Provision RevenueThird-quarter pretax, pre-provision net revenue was $138 million, an increase of 6% from the prior quarter.
- Disciplined Loan GrowthLoans ended the quarter at $21.6 billion, increasing $256 million, or 5% annualized, from the second quarter. Management attributed the growth to continued disciplined loan production in attractive markets.
- Healthy Southwest and Mountain Market PipelinesThe Southwest division outperformed the bank as a whole with approximately 8% annualized growth. Management reported a very healthy pipeline and deal flow in the Southwest and Mountain footprints, with solid overall origination activity, particularly in commercial real estate and construction portfolios.
- Broad-Based Deposit GrowthTotal deposits increased $619 million, or 10% annualized, from the prior quarter and $3.4 billion, or 16%, from the prior-year quarter, reaching $25.3 billion. Growth was described as broad-based across most deposit products, divisions, and geographies.
- Growth in Noninterest-Bearing DepositsNoninterest-bearing deposits increased $279 million, or 15% annualized, to $7.7 billion and represented 30% of total deposits at quarter end. Management described the growth in noninterest-bearing balances as a major highlight of the quarter.
- Improved Funding Metrics and Liquidity PositionThe loan-to-deposit ratio improved to 85.7% from 86.8% at the end of the prior quarter. Total funding cost declined to 1.32%, down 1 basis point sequentially and 26 basis points year over year. Core deposit costs, including noninterest-bearing deposits, declined to 1.17%, down 1 basis point sequentially and 6 basis points year over year. Management said the deposit base comfortably supports liquidity, the funding strategy, and future loan growth.
- Strong Credit QualityEarly-stage delinquencies declined to 0.27% of loans from 0.31% in the prior quarter. Nonperforming assets decreased $1.2 million to $90.6 million, or 0.28% of subsidiary assets. Management characterized credit quality as excellent and cited the community banking model, market focus, and disciplined underwriting culture.
- Improved Efficiency and Return on AssetsThe efficiency ratio improved to 56.08% from 56.65% in the prior quarter. Return on average assets increased to 1.31% from 1.25% in the prior quarter and 0.93% in the third quarter of last year. The year-to-date operating efficiency ratio improved nearly 5 percentage points over nine months, from 62% to 57%.
- Dividend Increase and Book Value GrowthThe Board increased the quarterly dividend by $0.02, or 6%, to $0.35 per share. This was the company's 166th consecutive quarterly dividend and its 50th dividend increase over its history. Tangible book value per share increased to $22.05, up 1% sequentially and 8% year over year.
- Additional Asset Repricing OpportunityInvestment cash flows are being reinvested at roughly 350 basis points higher than the current runoff yield. Approximately $3.5 billion of loans are expected to reprice upward by 125 to 150 basis points over the next 12 months, while new production yields were in the high 6s and trending higher. Management said these factors provide meaningful momentum for increasing margin through 2027.
- Potential for Margin to Reach the Higher End of Historical RangeManagement said the historical net interest margin range has typically been 4% to 4.5% and that current market conditions and lending opportunities could lift the margin toward the higher end of that range over time, although no specific timing was provided for reaching 4.5%.
- Positive Asset SensitivityManagement described the balance sheet as modestly asset sensitive. While deposit costs could rise if the Federal Reserve continues to raise rates, management stated that asset repricing and higher reinvestment yields would more than offset that funding cost pressure and support continued margin expansion throughout 2027.
- Capital Deployment Options Under ReviewBecause of the amount of capital expected to accumulate from earnings growth, management said it is reviewing all options, including special dividends and share buybacks, and wants to keep all capital allocation levers available.
- Loan Demand Remains ResilientManagement reported that no material deals had fallen out of the pipeline as a result of rates. Borrower caution has been evident for at least the last year, but projects continue to move forward, sometimes slightly scaled back with additional equity, and management had not seen a material change in borrower behavior.
- Low-to-Mid-Single-Digit Loan Growth OutlookDespite entering a seasonally slower period, management said origination activity, deal flow, and pipeline strength remained healthy and reiterated comfort with a low to mid-single-digit loan growth outlook.
- Conservative Securities Portfolio ReinvestmentRunoff cash flows from the securities portfolio are being reinvested in new purchases, with management emphasizing a conservative approach that does not reach for yield or duration. The company expects to reinvest roughly the amount of quarterly runoff while retaining flexibility to fund loans or purchase securities.
- Strong New Loan Production EconomicsThird-quarter loan production yields were 6.74%. Management also stated that new production yields were in the high 6s and trending higher, with each new loan added to the books lifting the margin.
- Expense and Efficiency OutlookManagement reiterated fourth-quarter operating expense guidance of $187 million to $192 million and full-year guidance of $750 million to $760 million, with the full-year result expected to be closer to approximately $757 million. Management expressed confidence that the fourth-quarter efficiency ratio could reach 54% to 55%.
- Technology Supporting Expense ControlManagement said the divisions are embracing the significant technology investments made by the company and that the technology has been helpful in controlling compensation expense.
- Lower Tax Rate Supported by Federal Tax CreditsThe third-quarter tax rate came in below the approximately 22% expectation because the company closed transactions generating additional federal tax credits. Management expects the fourth-quarter tax rate to be around 21% and said the full-year rate would likely be around 21%, depending on additional federal tax credit opportunities.
DE:GLC Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | 0.75- | 0.44 | ― | ― |
| Oct 22, 2026 | 2026 (Q3) | 0.700.71 | 0.51 | 40.35% (+0.20) | |
| Jul 23, 2026 | 2026 (Q2) | 0.670.67 | 0.4 | 66.67% (+0.27) | |
| Apr 23, 2026 | 2026 (Q1) | 0.580.56 | 0.43 | 31.25% (+0.13) | |
| Jan 22, 2026 | 2025 (Q4) | 0.440.44 | 0.48 | -9.26% (-0.04) | |
| Oct 16, 2025 | 2025 (Q3) | 0.540.51 | 0.4 | 26.67% (+0.11) | |
| Jul 24, 2025 | 2025 (Q2) | 0.340.40 | 0.35 | 15.38% (+0.05) | |
| Apr 24, 2025 | 2025 (Q1) | 0.420.43 | 0.26 | 65.52% (+0.17) | |
| Jan 23, 2025 | 2024 (Q4) | 0.460.48 | 0.44 | 10.20% (+0.04) | |
| Oct 24, 2024 | 2024 (Q3) | 0.370.40 | 0.42 | -4.26% (-0.02) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed