Glacier Bancorp (GBCI) in Kalispell, Mont., has reclassified 15% of its investment securities portfolio.
The $8 billion-asset company said in a regulatory filing Monday that it had transferred $485 million of securities to held-for-maturity from available-for-sale. The transfer, which includes a net unrealized gain of $4.6 million, took place on Jan. 1, the filing said.
Prior to the transfer, 100% of Glacier's investment securities were classified as available-for-sale.
Glacier said the impact of the transfer will depend on future interest rate environments and other factors.