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 (NASDAQ: FIBK) and Great Western Bancorp (NYSE: GWB) have received all necessary regulatory clearances and shareholder approvals for their merger. The transaction is set to combine both banks, operating under the First Interstate BancSystem name, with headquarters in Billings, Montana. The merger aims to establish a diversified banking franchise with over 300 branches across 14 states and assets exceeding $32 billion. The merger is expected to complete by February 1, 2022, with client account conversions anticipated in May 2022.
Great Western Bancorp, Inc. (NYSE:GWB) announced that it will release its financial results for the quarter ending December 31, 2021, on January 27, 2022. This release coincides with the earnings conference call of First Interstate BancSystem, Inc. (NASDAQ:FIBK) on January 28, 2022. Notably, GWB will not conduct its own earnings call this quarter. The financial results and accompanying slide presentation will be accessible on the Company's Investor Relations website.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release its fourth quarter results on January 27, 2022, after market close. A conference call is set for January 28, 2022, at 11 a.m. Eastern to discuss these results. Participants can access the call via phone or the internet. The company, based in Billings, Montana, controls assets worth $19.3 billion as of September 30, 2021. More information is available on their website.
First Interstate BancSystem (FIBK) and Great Western Bancorp (GWB) have received regulatory approvals for their proposed merger, expected to close in February 2022. The merger will create a community-focused banking franchise with over 300 branches across 14 states and combined assets exceeding $32 billion. FIBK aims to expand its model into eight new states. Shareholders will vote on the merger on January 19, 2022. The combined entity will operate under the First Interstate name and maintain headquarters in Billings, Montana.
The Board of Directors of Great Western Bancorp (NYSE: GWB) has declared a quarterly cash dividend of $0.05 per common share, payable on November 26, 2021. Stockholders of record as of November 12, 2021 will receive this dividend. Future dividends are subject to Board approval. Great Western Bancorp operates over 170 branches across nine states, focusing on relationship-based business and agribusiness banking.
Great Western Bancorp reported a net income of $51.9 million, or $0.93 per diluted share, for the quarter ending September 30, 2021, down from $58.7 million, or $1.06 per share in the previous quarter. Net interest income fell to $95.1 million, a decrease from $99.1 million. The total loans decreased by $292.7 million to $8.19 billion, while total deposits declined $227.3 million to $11.31 billion. A pending merger with First Interstate Bancorp is expected to close in Q1 2022.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported a net income of $47.1 million or $0.76 per share for Q3 2021, up from $42.5 million in Q2 2021. The result includes $6.6 million in pre-tax costs for the pending acquisition of Great Western Bancorp. Loans held for investment decreased by $212.2 million or 2.2%, affected by a 48.6% drop in PPP loans. Deposits increased to $16 billion, up 2.8%. Non-interest income rose 12.5% to $39.7 million, driven by mortgage banking and payment services. A dividend of $0.41 per share was declared, yielding an annualized 3.9%.
Great Western Bancorp, Inc. (NYSE:GWB) announced it will release financial results for the quarter ending September 30, 2021 on October 26, 2021. This date aligns with the earnings release of First Interstate BancSystem, Inc. (NASDAQ:FIBK) on October 27, 2021. Notably, the company will not conduct an earnings conference call this quarter. The earnings press release and supplemental slide presentation will be available on the Investor Relations website.
Great Western Bancorp, Inc. (NYSE:GWB) will release its financial results for the quarter ending September 30, 2021, on October 28, 2021. Due to its upcoming merger with First Interstate BancSystem, Inc. (NASDAQ:FIBK), no earnings conference call will be held this quarter. The press release and a related slide presentation will be accessible on the Company's Investor Relations website.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) will report its third quarter financial results on October 26, 2021, after market closure. An investor conference call is scheduled for October 27, 2021, at 11 a.m. Eastern, to discuss the results, featuring a Q&A session. Access to the call will be available via phone and online, with a rebroadcast option following the event. As of June 30, 2021, First Interstate Bank holds $18.9 billion in assets, serving clients across multiple states, including Idaho, Montana, and Oregon.