First Interstate Bancsystem Inc

Latest Results (04.10.2025):

First Interstate BancSystem Inc. reported its financial results for the fourth quarter of 2024, achieving a net income of $52.1 million or $0.50 per diluted share. While this reflects a slight decrease from the previous quarter and the same quarter last year, the company demonstrated improvements in key operational metrics and capital ratios.

Leadership Change

James A. Reuter was appointed as the Company’s President and Chief Executive Officer, effective November 1, 2024, signaling a new chapter in the company's leadership.

Net Interest Margin Improvement

The net interest margin increased to 3.18% for Q4 2024, up by 17 basis points from Q3 2024. On a fully taxable equivalent basis, it rose to 3.20%, marking a 16 basis point increase from the previous quarter.

Non-Performing Assets

Non-performing assets decreased by $33.3 million (18.6%) to $145.6 million as of December 31, 2024, compared to September 30, 2024. However, there was an increase of $17.8 million (13.9%) from December 31, 2023.

Reduction in Borrowed Funds

Other borrowed funds fell by $512.5 million (24.6%) to $1,567.5 million as of December 31, 2024, primarily due to the repayment of the $1.0 billion Bank Term Funding Program borrowing using excess cash and lower-rate FHLB advances.

Increased Deposits and Improved Efficiency

Total deposits grew by $151.5 million by the end of December 2024, with interest-bearing demand deposits up by $233.8 million. The efficiency ratio also improved to 60.2% for Q4 2024 from 61.8% in Q3 2024.

Capital Ratios Enhancement

Capital ratios continued to strengthen in Q4 2024, with the common equity tier 1 capital ratio increasing by 0.30% to 12.16% compared to the previous quarter.