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. reports bank operating results, capital actions, and governance developments tied to its role as the financial services holding company for First Interstate Bank. Recurring updates cover quarterly earnings, net interest margin, loan and credit-quality trends, liquidity and borrowing levels, dividends, and share repurchase activity.
The company’s news also reflects its community banking footprint across the western and central United States, where First Interstate Bank provides retail, commercial, and digital banking services. Additional developments may include earnings call schedules, corporate presentations, board and management matters, and shareholder communications related to capital allocation and governance.
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%.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) has announced the appointment of James A. Reuter as President and Chief Executive Officer, effective November 1, 2024. Reuter will replace Kevin P. Riley, whose retirement was previously announced. Reuter joins First Interstate from FirstBank Holding Company, where he served as President and CEO for seven years before retiring in March 2024.
During his tenure at FirstBank, Reuter led the bank through significant growth, increasing total assets from $17 billion to over $28 billion. The First Interstate Board of Directors expressed confidence in Reuter's leadership, citing his 37 years of banking industry experience and track record in developing strategic growth plans in community banking.
Reuter has been active in various nonprofit organizations and currently serves on the Board of CEOs Against Cancer - Colorado Chapter.
First Interstate BancSystem, Inc. (NASDAQ: FIBK), the parent company of First Interstate Bank, has announced its schedule for reporting third quarter results. The company will release its earnings after market close on Thursday, October 24, 2024. This will be followed by a conference call for investors on Friday, October 25, 2024, at 11 a.m. Eastern (9 a.m. Mountain).
The conference call will include a presentation of quarterly results and a subsequent question-and-answer session. Interested parties can join the call by dialing 800-343-4136 with the Conference ID: FIBANC. Alternatively, participants can access the call via the Internet at www.FIBK.com. A telephone replay will be available approximately one hour after the call ends by dialing 800-283-4642 with the recording security code 24978. The call will also be archived on the company's website.
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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