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. (NASDAQ: FIBK) is a financial and bank holding company headquartered in Billings, Montana and focused on community banking. Through its subsidiary, First Interstate Bank, the company operates banking offices across multiple western and midwestern states and offers online and mobile banking services. This news page aggregates coverage of the company’s announcements, earnings releases, and other material developments.
Investors following FIBK news will see regular updates on quarterly financial results, including net interest income, net interest margin, noninterest income, noninterest expense, credit quality metrics, and capital ratios. Earnings releases also discuss trends in deposits, loans, and funding sources, as well as commentary from management on strategic priorities such as organic growth, relationship banking, expense management, and balance sheet positioning.
News items for First Interstate BancSystem also include announcements about capital management, such as subordinated note offerings, redemptions of existing subordinated notes, and the adoption of a stock repurchase program authorizing repurchases of common shares within a defined limit and time frame. In addition, the company reports on branch transactions, including the completed sale of twelve branches in Arizona and Kansas to Enterprise Bank & Trust and the purchase and assumption agreement under which Security First Bank agreed to acquire eleven Nebraska branches, subject to regulatory approval.
Governance and leadership developments are another key category of FIBK news. Form 8-K filings and related releases describe changes in the composition of the board of directors, committee assignments, and senior management roles, including the Chief Banking Officer structure and executive transition arrangements. For a comprehensive view of these topics, readers can use this page to monitor new press releases and regulatory disclosures related to First Interstate BancSystem, Inc.
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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.