First Interstate Bancsystem Stock Price, News & Analysis

First Interstate BancSystem (NASDAQ: FIBK) has appointed David P. Della Camera as its new Executive Vice President and Chief Financial Officer (CFO), effective June 1, 2025. This appointment completes the previously announced CFO succession plan from February 2025. Della Camera, who joined First Interstate in 2021, was previously serving as Deputy CFO, overseeing financial planning and analysis, investor relations, and strategic initiatives including M&A. He has also held positions as Director of Corporate Development and Financial Strategy, and Director of Financial Planning and Analysis. The outgoing CFO, Marcy D. Mutch, will remain as an executive advisor through 2025 and continue as a consultant until December 31, 2026, ensuring a smooth transition.

First Interstate BancSystem reported Q1 2025 net income of $50.2 million ($0.49 per share), compared to $52.1 million in Q4 2024 and $58.4 million in Q1 2024. Key highlights include:

• Net interest margin increased to 3.19%, up 1 basis point from Q4 2024
• Non-performing assets rose 36.3% to $198.4 million
• Criticized loans increased to $1,026.1 million
• Net charge-offs decreased 83.7% to $9.0 million
• Total deposits decreased $282.8 million
• Common equity tier 1 capital ratio improved to 12.53%

The bank declared a dividend of $0.47 per share, payable May 22, 2025. Total assets decreased 2.9% to $28.3 billion, with investment securities declining 3.1% to $7.5 billion. The loan-to-deposit ratio stood at 76.4%. The company discontinued accepting indirect loan applications during Q1 2025.

Enterprise Bank & Trust has signed an agreement to acquire twelve banking offices from First Interstate Bank, expanding its presence in Arizona and Kansas. The strategic acquisition includes:

• 10 branches in Arizona (including locations in Scottsdale, Chandler, Maricopa, and Tucson)
• 2 branches in Kansas (Overland Park and Shawnee)
• Approximately $740 million in deposits
• About $200 million in commercial loans

The deal is expected to close by early Q4 2025. Post-acquisition, Enterprise will strengthen its market position with:

• 12 full-service branches in Arizona with $1.3 billion in deposits
• 9 full-service branches in Kansas City area with $1.1 billion in deposits

James B. Lally, CEO of Enterprise, highlighted this as a strategic opportunity to expand in markets with growth potential. The transaction aims to enhance customer access and continue Enterprise's business-oriented, relationship-driven banking approach.

Enterprise Bank & Trust has signed an agreement to acquire twelve banking offices from First Interstate Bank in a strategic expansion across Arizona and Kansas. The deal includes ten branches in Arizona and two in Kansas, with the transfer of approximately $740 million in deposits and $200 million in commercial loans.

The acquisition will significantly boost Enterprise's market presence:

• In Arizona: Expansion to 12 full-service branches with $1.3 billion in deposits
• In Kansas City area: Increase to 9 full-service locations with $1.1 billion in deposits

The transaction is expected to close by early fourth quarter of 2025, pending regulatory approval. The deal includes branches in prime locations such as North Scottsdale, Chandler, Tucson, and Overland Park. Both banks emphasize this move aligns with their customer-centric and relationship-driven values, with Enterprise focusing on ensuring a seamless transition while First Interstate aims to redirect capital investment toward higher market share areas.

First Interstate BancSystem (NASDAQ: FIBK) has scheduled its first quarter 2025 earnings release and conference call. The company will release its Q1 results after market close on Tuesday, April 29, 2025.

A conference call for investors will be held on Wednesday, April 30, 2025, at 11 a.m. Eastern (9 a.m. Mountain). The call will include a presentation of quarterly results followed by a question-and-answer session. Investors can join via phone by dialing 800-549-8228 (Conference ID: 81085) or through the company's website at www.FIBK.com.

A replay will be available approximately one hour after the call ends by dialing 888-660-6264 (security code: 81085#). The recording will also be archived on FIBK's website.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) has announced its Chief Financial Officer succession plan. Marcy D. Mutch will retire as a full-time employee at the end of 2025 after more than 18 years with the company and will step down as Executive Vice President and CFO effective May 31, 2025.

Mutch will serve as an executive advisor through the end of 2025, assisting with strategic continuity, CFO role transition, and investor relations. She has also agreed to serve as a consultant through December 31, 2026.

The company has appointed David P. Della Camera, currently Deputy CFO, to succeed Mutch beginning June 1, 2025. This appointment is part of a multi-year succession plan as Mutch approached retirement age.

Della Camera joined First Interstate in 2021 and has held various senior finance leadership roles, including Deputy CFO, Director of Corporate Development and Financial Strategy, and Director of Financial Planning and Analysis.

First Interstate BancSystem (NASDAQ: FIBK) reported Q4 2024 net income of $52.1 million ($0.50 per diluted share), compared to $55.5 million ($0.54 per share) in Q3 2024 and $61.5 million ($0.59 per share) in Q4 2023.

Key highlights include: net interest margin increased to 3.18% in Q4, a 17-basis point increase from Q3; non-performing assets decreased 18.6% to $145.6 million; criticized loans increased by $170.0 million to $773.3 million; and net charge-offs were $55.2 million, including a significant $49.3 million commercial and industrial loan charge-off.

Total deposits increased by $151.5 million, while other borrowed funds decreased $512.5 million. The company declared a dividend of $0.47 per common share, representing a 5.8% annualized yield based on the average closing price during Q4 2024.

First Interstate BancSystem (NASDAQ: FIBK) has announced its upcoming fourth quarter earnings release and conference call schedule. The company will report its Q4 and year-end results after market close on Wednesday, January 29, 2025.

A conference call for investors is set for Thursday, January 30, 2025, at 11 a.m. Eastern (9 a.m. Mountain). The call will include a presentation of results followed by a Q&A session. Investors and interested parties can join via phone by dialing 800-549-8228 (Conference ID: 47891) or through the company's website at www.FIBK.com. A replay will be available approximately one hour after the call by dialing 888-660-6264 (security code: 47891#) and will also be archived on the company's website.

First Interstate BancSystem (NASDAQ: FIBK) reported Q3 2024 net income of $55.5 million, or $0.54 per share, down from $60.0 million in Q2 2024 and $72.7 million in Q3 2023. Key highlights include: net interest margin increase to 3.01%, a 4-basis point rise from Q2; criticized loans decreased by $14.7 million; net charge-offs of $27.4 million, primarily from metro office portfolio; and total deposits slightly decreased by $6.6 million. The company appointed James A. Reuter as President and CEO effective November 1, 2024. Capital ratios improved with common equity tier 1 capital ratio increasing to 11.83%.