GLACIER BANCORP, INC.GBCI

GLACIER BANCORP, INC. Goodwill & Intangibles Disclosure

10-KFiled Feb 25, 20262 min read
Other Intangible Assets and Goodwill
The following table sets forth information regarding the Company’s core deposit intangibles and other intangibles:
 At or for the Years ended
(Dollars in thousands)December 31,
2025		December 31,
2024		December 31,
2023
Gross carrying value$180,608 120,912 95,120 
Accumulated amortization(75,339)(69,730)(63,250)
Net carrying value$105,269 51,182 31,870 
Aggregate amortization expense$15,887 12,757 9,731 
Estimated amortization expense for the years ending December 31,
2026$19,177 
202717,593 
202813,411 
202911,319 
20309,576 

The following schedule discloses the changes in the carrying value of goodwill:
 Years ended
(Dollars in thousands)December 31,
2025		December 31,
2024		December 31,
2023
Net carrying value at beginning of period$1,051,318 985,393 985,393 
Acquisitions and adjustments326,965 65,925 — 
Net carrying value at end of period$1,378,283 1,051,318 985,393 
 
The Company evaluates goodwill for possible impairment utilizing a control premium analysis. The analysis first calculates the market capitalization and then adjusts such value for a control premium range which results in an implied fair value. The control premium range is determined based on historical control premiums for acquisitions that are comparable to the Company and is obtained from an independent third party. The calculated implied fair value is then compared to the book value to determine whether a goodwill impairment will be recognized and the amount of the impairment. The Company performed its annual goodwill impairment test during the third quarter of 2025 and determined the fair value of the reporting unit exceeded the carrying value, such that the Company’s goodwill was not considered impaired. In recognition, there were no events or circumstances that occurred during the fourth quarter of 2025 that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value, the Company did not perform interim testing at December 31, 2025. Changes in the economic environment, operations of the aggregated reporting units, or other factors could result in the decline in the fair value of the aggregated reporting units which could result in a goodwill impairment in the future. Accumulated historical impairment charges were $40,159,000 as of December 31, 2025 and 2024, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 25, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 23, 2022
2020Mar 1, 2021
2019Feb 21, 2020
2018Feb 22, 2019
2017Feb 22, 2018
2016Feb 23, 2017
2015Feb 25, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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