Welcome to our dedicated page for First Interstate Bancsystem news (Ticker: FIBK), a resource for investors and traders seeking the latest updates and insights on First Interstate Bancsystem stock.
First Interstate BancSystem Inc (FIBK) provides community-focused banking services across six Western states, blending digital innovation with personalized financial solutions. This news hub offers investors and stakeholders centralized access to official announcements and strategic developments.
Track earnings releases, regulatory updates, leadership changes, and operational milestones through verified press materials. Our curated collection simplifies monitoring of FIBK's financial performance, market expansions, and community initiatives while maintaining strict factual accuracy.
Key updates across core areas including commercial lending practices, digital banking enhancements, agricultural financing programs, and regional economic partnerships. Content spans quarterly results, merger activity disclosures, service innovations, and corporate responsibility reports.
Bookmark this page for direct access to First Interstate's latest communications, ensuring timely awareness of material developments affecting one of the West's prominent regional banking institutions.
First Interstate BancSystem (NASDAQ: FIBK) reported Q2 2024 earnings with net income of $60.0 million, or $0.58 per share, up from $58.4 million, or $0.57 per share in Q1 2024, but down from $67.0 million, or $0.65 per share in Q2 2023. Key highlights:
- Criticized loans decreased by $12.0 million.
- Non-performing assets fell by $14.5 million.
- Net interest margin increased by 6 basis points to 2.97%.
- Total deposits rose by $60.7 million.
- Non-interest expense dropped by $3.3 million from Q1 2024 and $7.0 million from Q2 2023.
Despite positive net interest margin and expense control, net interest income declined by $16.7 million year-over-year due to higher interest-bearing deposit costs. The board declared a dividend of $0.47 per share, payable on August 15, 2024, with a 7.1% annualized yield.
First Interstate BancSystem, parent company of First Interstate Bank, will release its second-quarter earnings results after the market closes on July 25, 2024. A conference call will follow on July 26, 2024, at 11 a.m. Eastern Time, including a presentation of the results and a Q&A session. Interested parties can join via telephone (800-274-8461, ID: FIBANC) or online at www.FIBK.com. A replay will be available by phone (800-753-9146, Code: 24978) and archived online.
First Interstate BancSystem (NASDAQ: FIBK) announced the upcoming retirement of President and CEO Kevin P. Riley. Riley, who has been with the company since 2013 and served as President and CEO since 2015, will remain in his role until a successor is appointed.
The Board has initiated a search for Riley's replacement, aiming to maintain the company's strong balance sheet, diverse loan portfolio, and deep liquidity profile. The search will be led by a leading global executive recruiting firm.
During Riley's tenure, First Interstate grew from a $7B community bank in three states to a $30B regional community bank spanning 14 states.
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