First Interstate BancSystem, Inc. Announces Appointment of James A. Reuter as President and CEO

Rhea-AI Summary

First Interstate BancSystem, Inc. (NASDAQ: FIBK) has announced the appointment of James A. Reuter as President and Chief Executive Officer, effective November 1, 2024. Reuter will replace Kevin P. Riley, whose retirement was previously announced. Reuter joins First Interstate from FirstBank Holding Company, where he served as President and CEO for seven years before retiring in March 2024.

During his tenure at FirstBank, Reuter led the bank through significant growth, increasing total assets from $17 billion to over $28 billion. The First Interstate Board of Directors expressed confidence in Reuter's leadership, citing his 37 years of banking industry experience and track record in developing strategic growth plans in community banking.

Reuter has been active in various nonprofit organizations and currently serves on the Board of CEOs Against Cancer - Colorado Chapter.

Positive

• Appointment of experienced banking executive James A. Reuter as new President and CEO
• Reuter's proven track record of significant growth at FirstBank (from $17 billion to $28 billion in total assets)
• Board's confidence in Reuter's ability to implement organic growth initiatives

Negative

• None.

BILLINGS, Mont.--(BUSINESS WIRE)-- First Interstate BancSystem, Inc. (NASDAQ: FIBK) (“First Interstate or the “Company”) announced today the appointment of James (Jim) A. Reuter as President and Chief Executive Officer, effective November 1, 2024, replacing Kevin P. Riley, whose retirement was announced earlier this year.

Jim Reuter (Photo: Business Wire)

“After a thorough and comprehensive search, the Board of Directors is thrilled to welcome Jim to First Interstate,” said Stephen B. Bowman, First Interstate’s Board Chair. “Having spent more than 37 years in the banking industry, Jim is a proven leader with a strong track record of developing and executing strategic growth plans in the community banking space.”

“His deep knowledge of our footprint, command of the regulatory and risk environment, and ability to implement organic growth initiatives that add value to clients and shareholders alike positions us well for future success,” Bowman continued. “We’re confident Jim’s leadership style will fit in seamlessly with our culture of integrity and commitment to helping people and their money work better together.”

Reuter joins First Interstate from FirstBank Holding Company – one of the largest privately held banks in the nation – where he served as President and CEO for the past seven years before retiring in March 2024. During his time as CEO, Reuter led FirstBank through one of the largest growth periods in its history, growing the bank from $17 billion in total assets when he was named CEO in 2016 to more than $28 billion in total assets.

“It’s an honor to be joining an organization that prioritizes showing up for the communities it serves,” Reuter said. “I’m energized by the growth momentum and position of strength that First Interstate has built over the last several years and am excited to partner with the Board of Directors and the entire leadership team to continue advancing the company forward.”

Reuter currently serves on the Board of CEOs Against Cancer - Colorado Chapter and has previously served on the Boards of several nonprofits, including Mentor Young Americans Bank, Center City Collaborative, Women’s Foundation of Colorado, the Blind Institute of Technology, Special Olympics Colorado and Ability Connection Colorado.

About First Interstate BancSystem, Inc.

First Interstate BancSystem, Inc. is a financial and bank holding company focused on community banking. Incorporated in 1971 and headquartered in Billings, Montana, the Company operates banking offices, including detached drive-up facilities, in communities across Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming, in addition to offering online and mobile banking services. Through its bank subsidiary, First Interstate Bank, the Company delivers a comprehensive range of banking products and services to individuals, businesses, municipalities, and others throughout the Company’s market areas.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241009144202/en/

Company Contact:

David Della Camera, CFA

Deputy Chief Financial Officer

(406) 255-5363

investor.relations@fib.com

NASDAQ: FIBK

www.FIBK.com

Media Contact:

Sara Becker

Director of Marketing and Communications

(406) 255-5314

sara.becker@fib.com

Source: First Interstate BancSystem, Inc.

FAQ

When will James A. Reuter become the new President and CEO of First Interstate BancSystem (FIBK)?

James A. Reuter will become the new President and CEO of First Interstate BancSystem (FIBK) effective November 1, 2024.

Who is James A. Reuter replacing as CEO at First Interstate BancSystem (FIBK)?

James A. Reuter is replacing Kevin P. Riley, whose retirement was announced earlier this year.

What was James A. Reuter's previous position before joining First Interstate BancSystem (FIBK)?

Before joining First Interstate BancSystem, James A. Reuter served as President and CEO of FirstBank Holding Company for seven years until his retirement in March 2024.

How much did FirstBank grow under James A. Reuter's leadership?

Under James A. Reuter's leadership, FirstBank grew from $17 billion in total assets when he became CEO in 2016 to more than $28 billion in total assets.