FIBK
First Interstate BancSystem, Inc.35.57
-0.07-0.2%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reorg key to loan growth turnaround
Q&A largely reaffirmed scripted guidance but spotlighted the banking reorganization as the linchpin for back-half 2026 loan growth after first-half softness from payoffs and competition. Management confirmed NIM expansion to north of 3.5% by year-end via roughly 5bps quarterly steps, with new loans yielding low-mid 6s and securities at 5-year plus 60-70bps. Buybacks stay aggressive, with $180M capacity left and CET1 at 14.4%. Analysts pressed on production lags and criticized loan refills; Reuter pointed to December pipeline gains and proactive credit discipline. Expenses pegged flat quarterly around $160M. New structure empowers bankers. Watch organic ramp in core markets like Colorado.
Key Stats
Market Cap
3.66BP/E (TTM)
15.01Basic EPS (TTM)
2.37Dividend Yield
0.05%Recent Filings
10-K
FY2025 results
First Interstate BancSystem closed FY2025 ended December 31, 2025 with $26.6B assets, $22.1B deposits, and $15.2B loans, down from prior year amid strategic branch sales including Arizona/Kansas ($642M deposits/$292M loans) and pending Nebraska divestiture. Net income jumped 34% to $302M ($2.94 diluted EPS) on $63M branch sale gain, lower $41M provision (net charge-offs 0.24% vs 0.57%), and FDIC fees drop, though offset by payment revenue dip; Q4 NIM rose to 3.36% sequentially on falling deposit costs. Repurchased $118M shares ($32 avg); debt cleared to zero. Q4 criticized assets improved vs Q3. Regulatory changes risk heightened scrutiny.
8-K
Q4 earnings soar on branch sale
First Interstate BancSystem crushed Q4 2025 with $108.8M net income, up 52% QoQ, fueled by a $62.7M gain from selling Arizona/Kansas branches on October 10. NIM ticked up to 3.36% while non-performers plunged 25.5%; board hiked buybacks to $300M total and declared $0.47/share dividend, payable February 20. Capital strengthened to 14.38% CET1. Charge-offs spiked on one big loan.
8-K
CBO role consolidated to Shepler
First Interstate BancSystem mutually transitioned EVP Lorrie F. Asker from Co-Chief Banking Officer to executive advisor role effective November 14, 2025, ending Q1 2026, while appointing Chris L. Shepler as sole Chief Banking Officer with $480,000 base salary and $50,000 in performance RSUs. Shepler, with 30+ years at Wells Fargo, HSBC, and Bank of America, now oversees all branches. Smooth handover aids continuity.
10-Q
Q3 FY2025 results
First Interstate BancSystem posted Q3 net income of $71.4M, up 29% y/y, with diluted EPS steady at $0.69 on 103.4M shares—reconciles precisely. Net interest income edged up 0.6% y/y to $206.8M (derived), as interest expense plunged 30% from repaid FHLB borrowings, lifting NIM to 3.34% from 3.01%; provision flipped to zero versus $19.8M y/y. Loans shrank 11% YTD to $15.8B on branch sales and runoffs, yet noninterest expense dipped 0.9%. Cash swelled to $1.4B, long-term debt at $146M post-$125M issuance. Nonaccruals ticked to 1.15%. Stock repurchases underway. Branch sales expose deposit concentration risk.
8-K
Q3 earnings steady, NIM up
First Interstate BancSystem posted Q3 net income of $71.4 million, or $0.69 per share, matching Q2 while NIM expanded to 3.34% amid zero other borrowed funds. Board declared $0.47/share dividend payable November 20 to November 10 record holders. Capital strengthened; CET1 hit 13.90%. Buybacks roll on.
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