First Interstate Bancsystem Stock Price, News & Analysis

First Interstate BancSystem, Inc. (NASDAQ: FIBK) announced its Q1 2023 financial results, reporting a net income of $56.3 million ($0.54 per share), a decline from $85.8 million ($0.82 per share) in Q4 2022 and a recovery from a net loss of $33.4 million ($0.36 per share) in Q1 2022. Key metrics include a net interest margin of 3.36%, down 25 basis points from Q4 2022, and a decrease in net interest income by 7.5% to $238.9 million. Total loans held for investment rose by $146.5 million, reflecting strong growth in commercial loans. Despite facing a $23.4 million loss on investment securities, the company declared a dividend of $0.47 per share, equivalent to a 5.3% annual yield. The credit loss provision was $15.2 million, indicating management's cautious approach amid a fluctuating economic landscape.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release its first quarter results after the market closes on April 26, 2023. Following this, an investor conference call is scheduled for April 27, 2023, at 11 a.m. Eastern to discuss the quarterly results, which will include a question-and-answer session. Interested parties can join the call by dialing 1-833-470-1428 or via the Internet at www.FIBK.com. A replay will be available approximately one hour after the call ends. As of December 31, 2022, First Interstate BancSystem reported $32 billion in assets, serving a broad community across multiple states.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported strong financial results for Q4 2022, with net income of $85.8 million, or $0.82 per diluted share, up from $85.7 million in Q3 2022 and $51.1 million in Q4 2021. 2022's annual net income was $202.2 million, compared to $192.1 million in 2021. Despite acquisition costs related to Great Western Bancorp, loan growth was significant, with an 11.1% annualized increase in loans held for investment. However, the net interest margin decreased to 3.61%. The Company declared a dividend of $0.47 per share, yielding 4.4%. Looking ahead, management expects solid loan growth in 2023 amidst a more challenging economic environment.

First Interstate BancSystem (NASDAQ: FIBK) will announce its fourth quarter financial results on January 26, 2023, after market close. Investors can join a conference call on January 27, 2023, at 11 a.m. Eastern Time to discuss the results. The call will be accessible by phone and online at www.FIBK.com. First Interstate BancSystem, headquartered in Billings, Montana, manages $32 billion in assets as of September 30, 2022, delivering financial services across several states.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported a net income of $85.7 million, or $0.80 per share, for Q3 2022, marking a significant increase from $64.1 million in Q2 2022. The net interest margin improved to 3.71%, up 46 basis points from Q2 2022, driven by accelerated loan growth. However, the company faced an $8.4 million provision for credit losses and $24.2 million in realized losses from investment securities. A cash dividend of $0.47 per share was declared, reflecting a 14.6% increase. Despite challenges, loan growth and margins indicate a positive trajectory.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) has appointed Ashley Hayslip as Executive Vice President and Chief Banking Officer effective November 28, 2022. She will lead the retail and commercial banking teams and oversee wealth management and investment services. Kevin Riley, President and CEO, expressed confidence in Hayslip's experience, which includes significant roles at Umpqua Bank, Bank of the West, and Zions Bancorp. Hayslip's appointment follows the retirement announcement of Russell A. Lee, the outgoing Chief Banking Officer.