- Glacier Bancorp (GBCI, Financial) reported a Q1 2025 net income of $54.6 million, a 67% increase year-over-year.
- The net interest margin improved to 3.04%, with total deposits reaching $20.634 billion.
- GBCI announced its acquisition of Bank of Idaho Holding Co., which adds $1.3 billion in assets.
Glacier Bancorp, Inc. (GBCI) has reported its financial results for the first quarter of 2025, showing a mixed but overall positive performance. The bank's net income for the quarter was $54.6 million, which represents a 12% decrease from the previous quarter but marks a significant 67% increase compared to the same period last year. Diluted earnings per share stood at $0.48, declining 11% quarter-over-quarter but increasing 66% year-over-year.
The company's financial metrics reveal a strengthened position. Its net interest margin rose to 3.04%, up by 7 basis points from the prior quarter and 45 basis points from the previous year. Total deposits have increased to $20.634 billion, with a quarter-over-quarter growth of $87.1 million. Notably, the loan yield also improved, reaching 5.77%.
In strategic developments, Glacier Bancorp has announced the acquisition of Bank of Idaho Holding Co., set to close by April 30, 2025. This acquisition will bring in $1.3 billion in assets, furthering Glacier's strategy of expansion through acquisitions, with this being the 26th bank acquisition since 2000.
On the downside, the quarter saw an increase in non-performing assets, which rose to 0.14% of subsidiary assets, up from 0.10% in the previous quarter, mainly attributed to a single credit relationship. However, Glacier Bancorp maintains a robust cash position and continues its strong dividend policy, declaring a $0.33 per share dividend for the 160th consecutive quarter.
