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First Interstate BancSystem, Inc.

First Interstate BancSystem, Inc.

NASDAQ•FIBK
CEO: Ms. Marcy D. Mutch CPA
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2010-03-24
First Interstate BancSystem, Inc. operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors. The company also offers real estate loans comprising commercial real estate, construction, residential, agricultural, and other real estate loans; consumer loans comprising direct personal loans, credit card loans and lines of credit, and indirect loans; variable and fixed rate commercial loans for small and medium-sized manufacturing, wholesale, retail, and service businesses for working capital needs and business expansions; and agricultural loans. In addition, it provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. Further, the company offers marketing, credit review, loan servicing, credit cards issuance and servicing, mortgage loan sales and servicing, indirect consumer loan purchasing and processing, loan collection services, other operational, and specialized staff support services, as well as online and mobile banking services. The company serves individuals, businesses, municipalities, and other entities in various industries, including agriculture, construction, education, governmental services, healthcare, hospitality, housing, professional services, real estate development, retail, technology, tourism, and wholesale trade. First Interstate BancSystem, Inc. was incorporated in 1971 and is headquartered in Billings, Montana.
Contact Information
401 North 31st Street, Billings, MT, 59101, United States
406-255-5311
www.fibk.com
Market Cap
$3.28B
P/E (TTM)
13.1
14.4
Dividend Yield
6.0%
52W High
$36.77
52W Low
$22.95
52W Range
60%
4.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$43.70M-88.33%
4-Quarter Trend

EPS

$0.69+27.78%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q2 Earnings Highlights

Release Date: Aug 6, 2025

Key Highlights

Net Income Increased Modestly Six-month net income rose to $121.9M from $118.4M, primarily due to a lower provision for credit losses offset by higher tax expense.
Net Interest Margin Expansion GAAP Net Interest Margin improved to 2.75% for the six months ended June 30, 2025, up from 2.38% last year, driven by lower funding costs.
Loan Portfolio Strategic Reduction Net loans held for investment decreased 8.4% to $16.14B, influenced by consumer credit card outsourcing and loan transfers for branch sale.
Robust Capital Adequacy Maintained Consolidated Total Risk-Based Capital ratio stood strong at 16.49% as of June 30, 2025, significantly exceeding the 10.00% well-capitalized minimum.

Risk Factors

Loan Portfolio Shrinkage Continues Net loans HFI fell $1.49B (8.4%) since year-end 2024 due to strategic sales, including consumer credit card outsourcing and branch divestiture preparation.
Rising Non-Accrual Loans Non-accrual loans increased 39.3% to $192.7M, driven by growth in criticized assets within commercial real estate and commercial loan segments.
Interest Rate Sensitivity Exposure Income simulation indicates a potential 0.70% decrease in NII under a 200 basis point parallel rate increase scenario, showing balanced repricing dynamics.
Deposit Base Moderately Declined Total deposits decreased $385.0M (1.7%) to $22.63B since December 31, 2024, partially offset by increased long-term debt issuance.

Outlook

Branch Sale Closing Anticipated The sale of Kansas and Arizona branches, including $338.3M in loans transferred to held-for-sale, is expected to close by early fourth quarter 2025.
Debt Structure Optimization Underway The Company called its 2020 Subordinated Notes for redemption in August 2025, following the recent completion of a new $125.0M notes offering.
Indirect Lending Program Halted The indirect lending program for consumer loans ceased originating new business as of February 28, 2025, impacting future portfolio mix.
Evaluating New Tax Legislation The Company is currently assessing the financial impact of the recently enacted One Big Beautiful Bill Act (OBBBA) signed into law in July 2025.

Peer Comparison

Revenue (TTM)

Banco Macro S.A.BMA
$4.78B
-14.6%
Webster Financial CorporationWBS
$4.34B
+4.5%
Webster Financial CorporationWBS
$4.34B
+5.1%

Gross Margin (Latest Quarter)

Fulton Financial CorporationFULT
66.8%
+6.2 pp
Fulton Financial CorporationFULT
66.8%
+6.2 pp
Banco Macro S.A.BMA
0.0%
+0.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WBS$9.48B10.110.0%1.5%
WBS$9.48B10.110.0%1.5%
BMA$5.78B18.111.5%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4-Quarter Revenue CAGR
-51.1%
Growth Under Pressure
4-Quarter Net Income CAGR
+11.1%
Gradual Improvement in Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $338.60M-7.6%
    |
    EPS: $0.69+19.0%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $345.30M-5.9%
    |
    EPS: $0.49-14.0%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $1.48B+3.7%
    |
    EPS: $2.19-11.7%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 4, 2024|
    Revenue: $374.40M+2.7%
    |
    EPS: $0.54-22.9%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $366.60M+1.4%
    |
    EPS: $0.58-10.8%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $366.80M+10.4%
    |
    EPS: $0.57+5.6%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $1.43B+20.5%
    |
    EPS: $2.48+26.5%
    Meet
  • Form 10-Q - Q3 2023

    Period End: Sep 30, 2023|Filed: Nov 3, 2023|
    Revenue: $364.60M+17.8%
    |
    EPS: $0.70-12.5%
    Beat