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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported):
                                February 2, 2001

                              GLACIER BANCORP, INC.

             (Exact name of registrant as specified in its charter)

                                    DELAWARE
                 (State or other jurisdiction of incorporation)

                 000-18911                       81-0519541
              ---------------               --------------------
         (Commission File Number)       IRS Employer Identification No.

                                 49 Commons Loop
                               Kalispell, MT 59901
               (Address of principal executive offices) (zip code)

        Registrant's telephone number, including area code: 406-756-4234

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ITEM 5 - OTHER EVENTS

        On February 2, 2001, Glacier Bancorp, Inc. ("Bancorp") announced net
income of $3.731 million for the quarter ended December 31, 2000, compared to
net income of $3.029 million for the same quarter in 1999, an increase in per
share earnings of 19 percent

        A copy of the press release issued February 2, 2001, with the earnings
for quarter and year ended December 31, 2001 is attached to the Current Report.

ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS

        (a)    Financial statements - not applicable.

        (b)    Pro forma financial information - not applicable.

        (c)    Exhibits:

               (99)   Press Release issued by the Company dated February 2, 2001

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                                   SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

        Dated:  February 5, 2001

                                    GLACIER BANCORP, INC.

                                    By:  /s/ Michael J. Blodnick
                                        --------------------------------------
                                         Michael J. Blodnick
                                         President and Chief Executive Officer

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                                  NEWS RELEASE
                                February 2, 2001

FOR IMMEDIATE RELEASE                               Contact: Michael J. Blodnick
                                                                  (406) 756-4242
                                                               James H. Strosahl
                                                                  (406) 756-4263

                              GLACIER BANCORP, INC.
                    EARNINGS FOR QUARTER AND YEAR ENDED DECEMBER 31, 2000

HIGHLIGHTS FOR THE QUARTER: (1)

o   Record earnings for fourth quarter of $3.731 million, up 23 percent from
    last year.

o   Net diluted operating earnings per share of $.32, up 19 percent from prior
    years'quarter.

o   Record earnings for year of $14.003 million, up 13 percent from last year.

o   Net diluted operating earnings per share of $1.21, up 13 percent from last
    year.

o   Commercial and consumer loan growth of 31 percent and 15 percent,
    respectively.

o   Asset quality continues to be strong with high credit standards maintained.

o   Acquisitions of WesterFed Financial, and Idaho and Utah branches, nearing
    completion.

o   Successfully undertook $35 million offering of trust preferred securities
    issued January 30, 2001.

Note:

(1) All prior period amounts have been restated to reflect the February 2000
    acquisition of Mountain West Bank of Coeur d'Alene, Idaho using the pooling
    method of accounting. All per share amounts have been adjusted for the
    effect of the 10 percent stock dividend in May 2000.

    The acquisition of the two Butte, Montana offices of Washington Mutual, with
    approximately $73 million in deposits, was completed as of October 8, 1999.
    The information contained in this document includes the impact of that
    acquisition which was accounted for as a purchase. Under purchase accounting
    rules only results from the purchase date forward are included and there are
    no adjustments to historical information.

KALISPELL, MONTANA - Glacier Bancorp, Inc. (Nasdaq: GBCI) reported record net
earnings of $3.731 million, or fully diluted earnings per share of $.32, for the
fourth quarter of 2000, compared with $3.029 million, or fully diluted earnings
per share of $.27, for the same quarter of 1999, an increase in per share
earnings of 19 percent. Return on average assets and return on average equity
for the quarter were 1.4 percent and 15.3 percent, respectively, which compares
favorably to returns of 1.3 percent and 14.5 percent for the same quarter of
1999.

"We are very pleased to report record fourth quarter and annual earnings," said
Mick Blodnick, President and CEO. "Strong loan growth was a significant factor
in achieving this level of earnings. Prudent credit quality standards continue
to be a company focus, which has resulted in non-performing assets as a
percentage of total assets to be at the lowest level in several years. We are
particularly pleased to have accomplished these results as we simultaneously
moved toward completion of our pending acquisitions, and successful completed
our trust preferred offering".

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Since December 31, 1999 total assets have increased $82.7 million, or 8 percent,
to $1.057 billion. Total loans, net of the reserve for loan losses, have
increased $81.4 million, or 12 percent. The loan growth has occurred in
commercial loans, which have increased $61.0 million, or 22 percent, and
consumer loans, which have increased $15.2 million, or 10 percent. Residential
real estate loans have increased at a slower pace, $6.2 million or 3 percent, in
accordance with management's plan to retain fewer real estate loans which
generally have lower interest rates than other types of loans. Total investments
have increased $2.6 million, or 1 percent.

Total deposits have increased $76.5 million, or 12 percent, over the December
31, 1999 balances. Non-interest bearing deposits are up $14.3 million, or 11
percent, and interest-bearing deposits have increased $62.2 million, or 12
percent. The 1999 deposits included approximately $5 million associated with the
Glacier Bank, Hamilton and Thompson Falls offices that were sold in 2000.
Borrowed funds have decreased $9.3 million, or 4 percent as a result of the
deposit increase.

Capital as a percentage of assets ratio is at 9.3 percent at the end of 2000
which is higher than the 8.1 percent average of the Company's peer group of
similar sized companies as reported in the Federal Reserve Bank's "Bank
Performance Report" ("Peer Group"). The book value per share has increased from
$7.44 at December 31, 1999 to $8.57 at December 31, 2000.

OPERATING RESULTS FOR THREE MONTHS ENDED DECEMBER 31, 2000 COMPARED TO DECEMBER
31, 1999

Net Interest Income

Top line revenue growth continues to accelerate. Net interest income for the
quarter was $10.901 million, an increase of $837 thousand, or 8 percent, over
the same period in 1999. The Federal Reserve Bank has raised interest rates 175
basis points since June 30, 1999 which created a larger percentage increase in
interest expense than in interest income. However, the growth in earning assets
and the increase in non-interest bearing deposits resulted in a significant
increase in net interest income. Net interest margin continues to be a
challenge. As a percentage of earning assets, on a tax equivalent basis, it has
declined from 4.7 percent in 1999 to 4.5 percent in 2000. Funding costs as a
result of the Federal Reserve actions continue to put pressure on the net
interest margin.

Loan Loss Provision and Non-Performing Assets

Asset quality continued to be very strong during the quarter. Non-performing
assets as a percentage of total assets at December 31, 2000 were .20 percent
versus .23 at the same time last year, well below the Peer Group average of .51
percent at September 30, 2000, the most recent information available. The
reserve for loan losses was 372 percent of non-performing assets at December 31,
2000, up from 295 percent a year ago. During this same period non-performing
assets declined from $2.278 million to $2.097 million a decrease of $181
thousand, or 8 percent.

With the growth in loan balances, and the continuing change in loan mix from
residential real estate to commercial and consumer loans, which historically
have greater credit risk, the Company has increased the balance in the reserve
for loan losses account. The reserve balance has increased $1.077 million, or 16
percent, to $7.799 million, which is 1.05 percent of total loans outstanding, up
from 1.02 percent of loans at December 31, 1999. The fourth quarter provision
expense for loan losses was $381 thousand, down from $476 thousand during the
same quarter in 1999.

Non-interest Income

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Fee income from loans was $20 thousand higher in the fourth quarter of 2000 than
the same quarter in 1999. There also was an increase in service charge and other
fee income of $224 thousand, or 12 percent. Other income, net of gains on
security sales of $56 thousand, decreased by $103 thousand for a net increase in
non-interest income of $141 thousand, or 5 percent.

Non-interest Expense

Non-interest expense increased by $64 thousand, or 1 percent, over the fourth
quarter of 1999. Compensation and employee benefits increased $210 thousand, or
5 percent. Occupancy and equipment expense was up $146 thousand, or 13 percent,
primarily the result of bringing our data center on-line in the fourth quarter
of 1999. Other expenses were down $292 thousand, or 10 percent.

Efficiency Ratio

The efficiency ratio, which is a measure of cost versus revenue, was 57 percent
for the quarter, down from 61 percent for the same quarter in 1999. This
compares favorably to the peer group average of approximately 61 percent.

OPERATING RESULTS FOR THEYEAR ENDED DECEMBER 31, 2000 COMPARED TO DECEMBER 31,
1999

Net earnings of $14.003 million was an increase of $1.651 million, or 13 percent
over 1999. Fully diluted operating earnings per share were $1.21 an increase of
$.14, or 13 percent over last year. The return on average assets and the return
on average equity were 1.4 percent and 15.8 percent respectively. The 1999
return on average assets was 1.4 percent and the return on average equity was
14.6 percent.

Net Interest Income

Net interest income for the year was $41.480 million an increase of $4.396
million, or 12 percent over the same 1999 period. Growth in earning assets
combined with the increased percentage of higher yielding commercial and
consumer loans, and the increase in non-interest bearing deposits, were the
primary reasons for the increase in net interest income. The net interest margin
as a percentage of average earning assets on a tax equivalent basis, was 4.5
percent, a decline from 4.7 percent in 1999.

Loan Loss Provision

The provision for loan losses was $1.864 million, an increase of $141 thousand
or 8 percent from the 1999 provision of $1.723 million. The level of
non-performing loans remains at a relatively low level compared to the peer
group and has declined from a year ago.

Non-interest Income

Loan fee income declined by $164 thousand, or 8 percent, and the gain on sale of
loans declined $1.059 million, or 34 percent, the result of lower volume of
mortgage loan activity due to increased interest rates. Increases in service
charges and other fee income of $1.423 million, or 22 percent, and other income
of $286 thousand, more than offset the decline in loan fee, and loan sale,
income.

Non-interest Expense

Non-interest expense has increased $2.231 million, or 8 percent. The addition of
two Butte, Montana offices, staffing increases in the Boise, Sun Valley, and
Bozeman offices, and other growth-related expenses are the primary reasons for
the increases. Compensation, employee benefits and related expenses have
increased $1.657 million, or 11 percent. Occupancy and equipment expense
increased $658 thousand, or 16 percent, as our new data center was on-line this

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full year. Data processing fees paid to outside vendors, including data
conversion expenses of $366 thousand, increased $98 thousand. Other expenses
decreased $182 thousand or 2 percent. Included as other expense is amortization
of intangibles of $559 thousand in 2000, and $305 thousand in 1999.

Efficiency Ratio

The efficiency ratio was 57 percent in 2000, down from 58 percent in 1999, an
achievement given the reduction in the net interest margin ratio and decrease in
mortgage origination income.

Pending Acquisitions

On September 14, 2000 the proposed acquisition of seven Wells Fargo & Company
and First Security Corporation branches located in Boise, Nampa, Hailey, and
Ketchum, Idaho and Brigham City and Park City, Utah by Mountain West Bank of
Coeur d'Alene, Idaho was announced. The purchase includes approximately $185
million in deposits, $50 million in loans, and real estate and equipment of the
branches. The acquisition is expected to be completed by March 16, 2001.
Regulatory approvals have been received.

On September 20, 2000 the proposed acquisition of Missoula, Montana based
WesterFed Financial Corporation ("WesterFed") with June 30, 2000 assets of $946
million, loans of $619 million, and deposits of $607 million was announced.
WesterFed is the holding company for Western Security Bank Montana's largest
savings bank with twenty-seven offices in fourteen Montana communities. The
acquisition is expected to be completed February 28, 2001, pending approval by
both company's shareholders. Regulatory approvals have been received.

"The branch purchases in Idaho and Utah strategically position us in some very
attractive growth areas," said Blodnick. "The acquisition of WesterFed
significantly increases our market share in Montana, particularly in Billings
and Missoula, and allows us to continue promoting our philosophy of community
banking to a much larger base of customers."

Following the completion of these acquisitions the company will be the largest
publicly traded bank holding company headquartered in the inland northwest with
assets of approximately $2 billion.

Cash Dividend

On December 27, 2000 the board of directors declared a $.15 cash dividend
payable January 25, 2001 to shareholders of record on January 9, 2001.

Investment Presentations

Starting February 5, 2001 President and CEO Mick Blodnick begins a week long
series of presentations organized by D. A. Davidson & Co. to mutual fund
managers, and institutional investors, in Dallas, Houston, Chicago, Baltimore,
New York, and Boston. He will be discussing the Company's operating strategy,
financial overview of Company's performance, market area, and pro forma data
showing completion of the pending acquisitions. Information that will be
included in those presentations is available on the Company's web site on the
Internet at www.glacierbank.com; click on "Investor Information".

Forward-Looking Statements

When used in this press release, the words or phrases "will likely result in",
"are expected to", "will continue", "is anticipated", "estimate", or "project"
or similar expressions are intended to identify "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks and uncertainties that

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could cause actual results to differ materially from historical earnings and
those presently anticipated or projected including general economic conditions,
business conditions in the banking industry, the regulatory environment, new
legislation, vendor quality and efficiency, employee retention factors, rapidly
changing technology and evolving banking industry standards, competitive
standards, competitive factors including increased competition among financial
institutions and fluctuating interest rate environments. Readers are cautioned
not to place undue reliance on any such forward-looking statements, which speak
only as of the date made. Readers should also carefully review the risk factors
described in the company's most recent quarterly report on Form 10-Q for the
period ending September 30, 2000, its Annual Report on Form 10-K for the period
ending December 31, 1999 and other documents the company files from time to time
with the Securities Exchange Commission.

Headquartered in Kalispell, Montana, Glacier Bancorp, Inc. conducts business
from Glacier Bank of Kalispell, First Security Bank of Missoula, Glacier Bank of
Whitefish, Glacier Bank of Eureka, Valley Bank of Helena, Big Sky Western Bank,
all located in Montana, and Mountain West Bank located in Idaho.