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                                                                   EXHIBIT 10(d)

                              EMPLOYMENT AGREEMENT

          AGREEMENT between First Security Bank of Missoula, ("Bank"),
         and William L. Bouchee, ("Executive"), and ratified by Glacier
                           Bancorp, Inc. ("Company"),

                                    RECITALS

A.    First Security Bank of Missoula, ("Bank"), is a wholly owned subsidiary of
      Glacier Bancorp, Inc., ("Company").

B.    Executive is the Chief Executive Officer of the Bank and a director of the
      Bank.

C.    The Bank desires Executive to continue his employment at the Bank under
      the terms and conditions of this Agreement.

D.    Executive desires to continue his employment at the Bank under the terms
      and conditions of this Agreement.

                                    AGREEMENT

1.    EMPLOYMENT. The Bank agrees to employ Executive and Executive accepts
      employment by the Bank on the terms and conditions set forth in this
      Agreement. Executive's title will be the Chief Executive Officer of the
      Bank. During the term of this Agreement, Executive will serve as a
      director of the Bank.

2.    TERM. The term of this Agreement is for one year beginning January 1,
      2005.

3.    DUTIES. The Bank will employ Executive as its Chief Executive Officer.
      Executive will faithfully and diligently perform his assigned duties,
      which are as follows:

      (a)   Bank Performance. Executive will be responsible for all aspects of
            the Bank's performance, including without limitation, directing that
            daily operational and managerial matters are performed in a manner
            consistent with the Bank's and Company's policies.

      (b)   Development and Preservation of Business. Executive will be
            responsible for the development and preservation of banking
            relationships and other business development efforts (including
            appropriate civic and community activities) in Missoula County.

      (c)   Report to Board. Executive will report directly to the Bank's board
            of directors and to the Chief Executive Officer of the Company. The
            Bank's board of directors may, from time to time, modify Executive's
            title or add, delete, or modify Executive's performance
            responsibilities to accommodate management succession, as well as
            any other management objectives of the Bank or of the Company.
            Executive will assume any additional positions, duties and
            responsibilities as may reasonably be requested of him with or
            without additional compensation, as appropriate and consistent with
            Sections 3(a) and 3(b) of this Agreement.

4.    EXTENT OF SERVICES. Executive will devote all of his working time,
      attention and skill to the duties and responsibilities set forth in
      Section 3. To the extent that such activities do not interfere with his
      duties under Section 3, Executive may participate in other businesses as a
      passive investor, but (a) Executive may not actively participate in the
      operation or management of those businesses, and (b) Executive may not,
      without the Bank's prior written consent, make or maintain any investment
      in a business with which the Bank or Company has an existing competitive
      or commercial relationship.

5.    SALARY. Executive will receive an annual salary of $138,000.00 to be paid
      in accordance with the Bank's regular payroll schedule.

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6.    INCENTIVE COMPENSATION. During the Term, the Bank's board of directors,
      subject to ratification by Company's board of directors, will determine
      the amount of bonus to be paid by the Bank to Executive for that year. In
      making this determination, the Bank's board of directors will consider
      factors such as Executive's performance of his duties and the safety,
      soundness and profitability of the Bank. Executive's bonus will reflect
      Executive's contribution to the performance of the Bank during the year.
      This bonus will be paid to Executive no later than January 31 of the year
      following the year in which the bonus is earned by Executive.

7.    INCOME DEFERRAL. Executive will be eligible to participate in any program
      available to the Bank's and Company's senior management for income
      deferral, for the purpose of deferring receipt of any or all of the
      compensation he may become entitled to under this Agreement.

8.    VACATION AND BENEFITS.

      (a)   Vacation and Holidays. Executive will receive four weeks of paid
            vacation each year in addition to all holidays observed by the Bank.
            Executive may carry over, in the aggregate, up to four weeks of
            unused vacation to a subsequent year. Any unused vacation time in
            excess of four weeks will not accumulate or carry over from one
            calendar year to the next. Each calendar year Executive shall take
            not less than one (1) week vacation.

      (b)   Benefits. Executive will be entitled to participate in any group
            life insurance, disability, health and accident insurance plans,
            profit sharing and pension plans and in other employee fringe
            benefit programs the Bank or Company may have in effect from time to
            time for its similarly situated employees, in accordance with and
            subject to any policies adopted by the Bank's board of directors
            with respect to the plans or programs, including without limitation,
            any incentive or employee stock option plan, deferred compensation
            plan, 401(k) plan, and Supplemental Executive Retirement Plan
            (SERP). Neither the Bank nor Company, through this Agreement,
            obligate itself to make any particular benefits available to its
            employees.

      (c)   Business Expenses. The Bank will reimburse Executive for ordinary
            and necessary expenses which are consistent with past practice at
            the Bank (including, without limitation, travel, entertainment, and
            similar expenses) and which are incurred in performing and promoting
            the Bank's business. Executive will present from time to time
            itemized accounts of these expenses, subject to any limits of the
            Bank policy or the rules and regulations of the Internal Revenue
            Service.

9.    TERMINATION OF EMPLOYMENT.

      (a)   Termination by the Bank for Cause. If the Bank terminates
            Executive's employment for Cause (defined below) before this
            Agreement terminates, the Bank will pay Executive the salary earned
            and expenses reimbursable under this Agreement incurred through the
            date of his termination. Executive will have no right to receive
            compensation or other benefits for any period after termination
            under this Section 9(a).

      (b)   Other Termination by the Bank. If the Bank terminates Executive's
            employment without Cause before this Agreement terminates, or
            Executive terminates his employment for Good Reason (defined below),
            the Bank will pay Executive for the remainder of the Term the
            compensation and other benefits he would have been entitled to if
            his employment had not terminated.

      (c)   Death or Disability. This Agreement terminates (1) if Executive dies
            or (2) if Executive is unable to perform his duties and obligations
            under this Agreement for a period of 90 consecutive days as a result
            of a physical or mental disability arising at any time during the
            term of this Agreement, unless with reasonable accommodation
            Executive could continue to perform his duties under this Agreement
            and making these accommodations would not pose an undue hardship on
            the Bank. If termination occurs under this Section 9(c), Executive
            or his estate will be entitled to receive all compensation and
            benefits earned and expenses reimbursable through the date
            Executive's

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            employment terminated.

      (d)   Termination Related to a Change in Control.

            (1)   Termination by Bank. If the Bank, or its successor in interest
                  by merger, or its transferee in the event of a purchase in an
                  assumption transaction (for reasons other than Executive's
                  death, disability, or Cause) (1) terminates Executive's
                  employment within one year following a Change in Control (as
                  defined below), or (2) terminates Executive's employment
                  before the Change in Control but on or after the date that any
                  party either announces or is required by law to announce any
                  prospective Change in Control transaction and a Change in
                  Control occurs within six months after the termination, the
                  Bank will provide Executive with the payment and benefits
                  described in Section 9(d)(3) below.

            (2)   Termination by Executive. If Executive terminates Executive's
                  employment, with or without Good Reason, within one year
                  following a Change in Control, the Bank will provide Executive
                  with the payment and benefits described in Section 9(d)(3).

            (3)   Payments. If Section 9(d)(1) or (2) is triggered in accordance
                  with its terms, the Bank will: (i) pay Executive in 12 monthly
                  installments in an amount equal to the Executive's annual
                  salary (determined as of the day before the date Executive's
                  employment was terminated) and (ii) maintain and provide for
                  one year following Executive's termination, at no cost to
                  Executive, the benefits described in Section 8(b) to which
                  Executive is entitled (determined as of the day before the
                  date of such termination); but if Executive's participation in
                  any such benefit is thereafter barred or not feasible, or
                  discontinued or materially reduced, the Bank will arrange to
                  provide Executive with either benefits substantially similar
                  to those benefits or a cash payment of substantially similar
                  value in lieu of the benefits.

      (e)   Limitations on Payments Related to Change in Control. The following
            apply notwithstanding any other provision of this Agreement:

            (1)   the total of the payments and benefits described in Section
                  9(d)(3) will be less than the amount that would cause them to
                  be a "parachute payment" within the meaning of Section
                  280G(b)(2)(A) of the Internal Revenue Code;

            (2)   the payment and benefits described in Section 9(d)(3) will be
                  reduced by any compensation (in the form of cash or other
                  benefits) received by Executive from the Bank or its successor
                  after the Change in Control; and

            (3)   Executive's right to receive the payments and benefits
                  described in Section 9(d)(3) terminates (i) immediately if
                  before the Change in Control transaction closes, Executive
                  terminates his employment without Good Reason, or the Bank
                  terminates Executive's employment for Cause, or (ii) one year
                  after a Change of Control occurs.

      (f)   Return of Bank Property. If and when Executive ceases, for any
            reason, to be employed by the Bank, Executive must return to the
            Bank all keys, pass cards, identification cards and any other
            property of the Bank. At the same time, Executive also must return
            to the Bank all originals and copies (whether in memoranda, designs,
            devices, diskettes, tapes, manuals, and specifications) which
            constitute proprietary information or material of the Bank. The
            obligations in this paragraph include the return of documents and
            other materials which may be in his desk at work, in his car, in
            place of residence, or in any other location under his control.

      (g)   Cause. "Cause" means any one or more of the following:

            (1)   Willful misfeasance or gross negligence in the performance of
                  Executive's duties;

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            (2)   Conviction of a crime in connection with his duties;

            (3)   Conduct demonstrably and significantly harmful to the Bank, as
                  reasonably determined on the advice of legal counsel by the
                  Bank's board of directors; or

            (4)   Permanent disability, meaning a physical or mental impairment
                  which renders Executive incapable of substantially performing
                  the duties required under this Agreement, and which is
                  expected to continue rendering Executive so incapable for the
                  reasonably foreseeable future.

      (h)   Good Reason. "Good Reason" means only any one or more of the
            following:

            (1)   Reduction of Executive's salary or reduction or elimination of
                  any compensation or benefit plan benefiting Executive, unless
                  the reduction or elimination is generally applicable to other
                  executive officers within the Company (or executive officers
                  of a successor or controlling entity of the Bank) formerly
                  benefitted;

            (2)   The assignment to Executive without his consent of any
                  authority or duties materially inconsistent with Executive's
                  position as of the date of this Agreement;

            (3)   The material breach of this Agreement by the Bank, or

            (4)   A relocation or transfer of Executive's principal place of
                  employment outside Missoula County, Montana.

      (i)   Change in Control. "Change in Control" means a change "in the
            ownership or effective control" or "in the ownership of a
            substantial portion of the assets" of the Bank, within the meaning
            of Section 280G of the Internal Revenue Code.

10.   CONFIDENTIALITY. Executive will not, after the date this Agreement was
      signed, including during and after its Term, use for his own purposes or
      disclose to any other person or entity any confidential business
      information concerning the Bank or its business operations, unless (1) the
      Bank consents to the use or disclosure of confidential information; (2)
      the use or disclosure is consistent with Executive's duties under this
      Agreement, or (3) disclosure is required by law or court order. For
      purposes of this Agreement, confidential business information includes,
      without limitation, trade secrets (as defined under the Montana Uniform
      Trade Secrets Act, Montana Code Section 30-14-402), various confidential
      information on investment management practices, marketing plans, pricing
      structure and technology of either the Bank or Company. Executive will
      also treat the terms of this Agreement as confidential business
      information.

11.   NONCOMPETITION. During the Term and the terms of any extensions or
      renewals of this Agreement and for a period equal to one year after
      Executive's employment with the Bank and Company has terminated, Executive
      will not, directly or indirectly, as a shareholder, director, officer,
      employee, partner, agent, consultant, lessor, creditor or otherwise:

      (a)   provide management, supervisory or other similar services to any
            person or entity engaged in any business in counties in which the
            Bank or Company may have a presence which is competitive with the
            business of the Bank or Company or a subsidiary as conducted during
            the term of this Agreement or as conducted as of the date of
            termination of employment, including any preliminary steps
            associated with the formation of a new bank.

      (b)   persuade or entice, or attempt to persuade or entice any employee of
            the Bank or Company or a subsidiary to terminate his/her employment
            with the Bank or a subsidiary.

      (c)   persuade or entice or attempt to persuade or entice any person or
            entity to terminate, cancel, rescind or revoke its business or
            contractual relationships with the Bank or Company.

12.   ENFORCEMENT.

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      (a)   The Bank and Executive stipulate that, in light of all of the facts
            and circumstances of the relationship between Executive and the
            Bank, the agreements referred to in Sections 10 and 11 (including
            without limitation their scope, duration and geographic extent) are
            fair and reasonably necessary for the protection of the Bank's and
            Company's confidential information, goodwill and other protectable
            interests. If a court of competent jurisdiction should decline to
            enforce any of those covenants and agreements, Executive and the
            Bank request the court to reform these provisions to restrict
            Executive's use of confidential information and Executive's ability
            to compete with the Bank and Company to the maximum extent, in time,
            scope of activities and geography, the court finds enforceable.

      (b)   Executive acknowledges the Bank and Company will suffer immediate
            and irreparable harm that will not be compensable by damages alone
            if Executive repudiates or breaches any of the provisions of
            Sections 10 or 11 or threatens or attempts to do so. For this
            reason, under these circumstances, the Bank, in addition to and
            without limitation of any other rights, remedies or damages
            available to it at law or in equity, will be entitled to obtain
            temporary, preliminary and permanent injunctions in order to prevent
            or restrain the breach, and the Bank will not be required to post a
            bond as a condition for the granting of this relief.

13.   COVENANTS. Executive specifically acknowledges the receipt of adequate
      consideration for the covenants contained in Sections 10 or 11 and that
      the Bank is entitled to require him to comply with these Sections. These
      Sections will survive termination of this Agreement. Executive represents
      that if his employment is terminated, whether voluntarily or
      involuntarily, Executive has experience and capabilities sufficient to
      enable Executive to obtain employment in areas which do not violate this
      Agreement and that the Bank's enforcement of a remedy by way of injunction
      will not prevent Executive from earning a livelihood.

14.   ARBITRATION.

      (a)   Arbitration. At either party's request, the parties must submit any
            dispute, controversy or claim arising out of or in connection with,
            or relating to, this Agreement or any breach or alleged breach of
            this Agreement, to arbitration under the American Arbitration
            Association's rules then in effect (or under any other form of
            arbitration mutually acceptable to the parties). A single arbitrator
            agreed on by the parties will conduct the arbitration. If the
            parties cannot agree on a single arbitrator, each party must select
            one arbitrator and those two arbitrators will select a third
            arbitrator. This third arbitrator will hear the dispute. The
            arbitrator's decision is final (except as otherwise specifically
            provided by law) and binds the parties, and either party may request
            any court having jurisdiction to enter a judgment and to enforce the
            arbitrator's decision. The arbitrator will provide the parties with
            a written decision naming the substantially prevailing party in the
            action. This prevailing party is entitled to reimbursement from the
            other party for its costs and expenses, including reasonable
            attorneys' fees.

      (b)   Governing Law. All proceedings will be held at a place designated by
            the arbitrator in Flathead County, Montana. The arbitrator, in
            rendering a decision as to any state law claims, will apply Montana
            law.

      (c)   Exception to Arbitration. Notwithstanding the above, if Executive
            violates Section 10 or 11, the Bank will have the right to initiate
            the court proceedings described in Section 12(b), in lieu of an
            arbitration proceeding under this Section 14.

15.   MISCELLANEOUS PROVISIONS.

      (a)   Entire Agreement. This Agreement constitutes the entire
            understanding and agreement between the parties concerning its
            subject matter and supersedes all prior agreements, correspondence,
            representations, or understandings between the parties relating to
            its subject matter.

      (b)   Binding Effect. This Agreement will bind and inure to the benefit of
            the Bank's and Executive's

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            heirs, legal representatives, successors and assigns.

      (c)   Litigation Expenses. If either party successfully seeks to enforce
            any provision of this Agreement or to collect any amount claimed to
            be due under it, this party will be entitled to reimbursement from
            the other party for any and all of its out-of-pocket expenses and
            costs including, without limitation, reasonable attorneys' fees and
            costs incurred in connection with the enforcement or collection.

      (d)   Waiver. Any waiver by a party of its rights under this Agreement
            must be written and signed by the party waiving its rights. A
            party's waiver of the other party's breach of any provision of this
            Agreement will not operate as a waiver of any other breach by the
            breaching party.

      (e)   Assignment. The services to be rendered by Executive under this
            Agreement are unique and personal. Accordingly, Executive may not
            assign any of his rights or duties under this Agreement.

      (f)   Amendment. This Agreement may be modified only through a written
            instrument signed by both parties and ratified by the Company.

      (g)   Severability. The provisions of this Agreement are severable. The
            invalidity of any provision will not affect the validity of other
            provisions of this Agreement.

      (h)   Governing Law and Venue. This Agreement will be governed by and
            construed in accordance with Montana law, except to the extent that
            certain regulatory matters may be governed by federal law. The
            parties must bring any legal proceeding arising out of this
            Agreement in Flathead County, Montana.

      (i)   Counterparts. This Agreement may be executed in one or more
            counterparts, each of which shall be deemed to be an original, but
            all of which taken together will constitute one and the same
            instrument.

      Signed this 17th day of February, 2005.

                                                FIRST SECURITY BANK OF MISSOULA

                                                /s/ Allen J. Fetscher
                                                -----------------------
                                                Allen J. Fetscher, Chairman

Attest By:

/s/ Harold Fraser
-----------------
Harold Fraser, Secretary

                                                EXECUTIVE

                                                /s/ William L. Bouchee
                                                -----------------------
                                                William L. Bouchee

Ratified
GLACIER BANCORP, INC.

/s/ Michael J. Blodnick
-----------------------
Michael J. Blodnick
President/CEO