[8-K] First Interstate BancSystem, Inc. Reports Material Event

Rhea-AI Filing Summary

First Interstate BancSystem, Inc. announced a senior management realignment effective September 10, 2025, splitting its Chief Banking Officer role into two Co-Chief Banking Officer positions. Lorrie Asker, the incumbent Chief Banking Officer and a named executive in the 2024 proxy, will serve as one Co-Chief Banking Officer with responsibility for branches in Arizona, Idaho, Montana, Oregon, Washington, and Wyoming. Chris Shepler, formerly Managing Director and National Commercial Banking Region Coverage Executive at Wells Fargo with over 30 years of experience, will serve as the other Co-Chief Banking Officer covering Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota. The company stated no other changes were made to Ms. Asker’s employment and that there were no related-party transactions involving Mr. Shepler since the start of the last fiscal year.

Positive

• Experienced hire: Chris Shepler brings >30 years of commercial and consumer banking leadership, including senior roles at Wells Fargo
• Improved leadership coverage: Splitting the Chief Banking Officer role assigns dedicated regional oversight across 14 states
• No changes to existing employment terms: Ms. Asker’s employment remains unchanged except for title and responsibilities

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Leadership split creates shared regional oversight; appears organizationally focused with limited disclosed financial impact.

The company has restructured a senior role into two Co-Chief Banking Officers to distribute geographic management responsibilities. This is a governance and operational change intended to strengthen leadership coverage across a broad multi-state footprint. The filing discloses that Ms. Asker’s employment terms remain unchanged except for title/responsibilities and that Mr. Shepler has no reportable related-person transactions since the start of the last fiscal year. The disclosure is routine for an 8-K Regulation FD item and provides necessary transparency on executive appointments without detailing compensation, succession planning specifics, or quantitative operational targets.

Banking Operations Analyst

TL;DR: Operationally sensible split of duties across regions; no material transactional information disclosed.

Splitting the Chief Banking Officer role into two positions assigns clear regional coverage: one Co-Chief covering six states in the West and Mountain regions and the other covering eight states in the central/northern Plains and Midwest. The filing highlights Mr. Shepler’s 30+ years of banking leadership and prior role at Wells Fargo, which may suggest experienced operational leadership but the company provides no performance metrics, cost implications, or changes to governance policies. The notice is informational and does not present financial metrics or material transactions that would immediately affect investor valuation based on the disclosed facts.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 ------------------------------ 

FORM 8-K

------------------------------ 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (date of earliest event reported): September 3, 2025

 ------------------------------ 

FIRST INTERSTATE BANCSYSTEM, INC.

(Exact name of registrant as specified in its charter)

 ------------------------------ 

Delaware

001-34653

81-0331430

(State or other jurisdiction of incorporation or organization)

(Commission File No.)

(IRS Employer Identification No.)

401 North 31st Street

Billings,

MT

59101

(Address of principal executive offices)

(zip code)

			(406)			255-5311
(Registrant’s telephone number, including area code)
			Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a- 12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

* * * * *

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of exchange on which registered
Common stock, $0.00001 par value			FIBK			NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

* * * * *

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 3, 2025, First Interstate BancSystem, Inc. (the “Company”) disclosed that, in connection with its internal realignment of senior management under the direction of the Company’s President and Chief Executive Officer, James A. Reuter, effective as of September 10, 2025, the Company’s Chief Banking Officer position would be separated and transitioned to a two person Co-Chief Banking Officer position, with Lorrie Asker, the Company’s former sole Chief Banking Officer and a named executive officer in the Company’s 2024 annual meeting proxy statement, being appointed to serve as one Co-Chief Banking Officer and, as described further below, Chris Shepler being appointed to serve as the other Co-Chief Banking Officer. Except for the change in title and responsibilities described herein, no other changes or amendments or modifications were made to Ms. Asker’s employment with the Company. The Company believes, like other financial institutions of a similar or larger size and geographical reach, that adding to its leadership in this position will improve its operations and benefit the organization and its stockholders.

Item 7.01 Regulation FD Disclosure.

On September 3, 2025, the Company appointed Mr. Shepler accepted the Company’s appointment as Co-Chief Banking Officer for the Company effective as of September 10, 2025. Mr. Shepler has more than 30 years of leadership experience in commercial, business, wealth, and consumer/small business banking, and he most recently served as Managing Director and National Commercial Banking Region Coverage Executive at Wells Fargo. In his role as Co-Chief Banking Officer, Mr. Shepler will cover branches in Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota, and in her new role as Co-Chief Banking Officer, Ms. Asker will cover branches in Arizona, Idaho, Montana, Oregon, Washington, and Wyoming. There was no arrangement or understanding with any other person pursuant to which Mr. Shepler was appointed to this position, and since the beginning of the Company’s last fiscal year, Mr. Shepler has not engaged in any transaction with the Company that would be reportable as a related person transaction under applicable rules of the Securities and Exchange Commission.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this report constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are predictive in nature and are identified by the use of the terms “expected,” “will,” “look forward to,” “aim,” and similar words or phrases indicating possible future expectations, events or actions. Such forward-looking statements are based on current expectations, assumptions and projections about our business and the Company, and are not guarantees of our future performance or outcomes. These statements are subject to a number of known and unknown risks, uncertainties, and other factors, many of which are beyond our ability to control or predict, which may cause actual events to be materially different from those expressed or implied herein. The Company has provided additional information about the risks facing its business in its most recent annual report on Form 10-K, and any subsequent periodic and current reports on Forms 10-Q and 8-K, filed by it with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made and are expressly qualified in their entirety by the cautionary statements set forth herein and in the filings with the Securities and Exchange Commission identified above, which you should read in their entirety before making any investment or other decision with respect to our securities. We undertake no obligation to update or revise any forward-looking statements contained in this report, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

			Exhibit No.						Exhibit Description
			104						Cover Page Interactive Data File (embedded within Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 9, 2025

			FIRST INTERSTATE BANCSYSTEM, INC.
			By:			/s/ JAMES A. REUTER
						James A. Reuter
						President and Chief Executive Officer

FAQ

What change did First Interstate BancSystem (FIBK) disclose in this 8-K?

The company split the Chief Banking Officer role into two Co-Chief Banking Officer positions effective September 10, 2025, appointing Lorrie Asker and Chris Shepler.

Which regions will each Co-Chief Banking Officer cover?

Ms. Asker will cover Arizona, Idaho, Montana, Oregon, Washington, and Wyoming; Mr. Shepler will cover Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.

Does the filing disclose any related-person transactions for Chris Shepler?

No. The filing states Mr. Shepler has not engaged in any transaction with the company since the start of the company’s last fiscal year that would be reportable as a related-person transaction.

Were there changes to Lorrie Asker’s employment terms?

Except for the change in title and responsibilities, no other changes, amendments, or modifications were made to Ms. Asker’s employment with the company.

Does the 8-K include financial impacts or compensation details for the appointments?

No. The filing does not disclose compensation, cost impacts, or quantitative performance targets related to the appointments.