Welcome to our dedicated page for First Interstate BancSystem news (Ticker: FIBK), a resource for investors and traders seeking the latest updates and insights on First Interstate BancSystem stock.
First Interstate BancSystem, Inc. Common Stock (DE) (symbol: FIBK) is the parent company of First Interstate Bank, an established community banking organization with assets totaling $8.5 billion. Operating over 80 banking offices, along with comprehensive online and mobile banking services, First Interstate Bank serves customers across Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming.
First Interstate Bank is renowned for its dedication to community banking services, driven by a commitment to strong family and corporate values. The bank focuses on providing exemplary customer service and aims to exceed customer expectations through its wide range of products and services. It actively supports the communities it serves with leadership and resources.
The bank offers a broad spectrum of financial products and services to both retail and commercial clients. Key sectors it serves include agriculture, construction, education, energy, governmental services, healthcare, mining, professional services, retail, tourism, and wholesale trade. A substantial portion of its income is derived from interest charged on loans, as well as interest and dividends earned on investments.
With a significant presence in community banking, First Interstate Bank continues to grow its influence and reach. Recent achievements and ongoing projects highlight its stability and consistent performance. The bank remains a trusted partner for its customers, providing reliable and innovative financial solutions tailored to their needs.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) announced its Q1 2023 financial results, reporting a net income of $56.3 million ($0.54 per share), a decline from $85.8 million ($0.82 per share) in Q4 2022 and a recovery from a net loss of $33.4 million ($0.36 per share) in Q1 2022. Key metrics include a net interest margin of 3.36%, down 25 basis points from Q4 2022, and a decrease in net interest income by 7.5% to $238.9 million. Total loans held for investment rose by $146.5 million, reflecting strong growth in commercial loans. Despite facing a $23.4 million loss on investment securities, the company declared a dividend of $0.47 per share, equivalent to a 5.3% annual yield. The credit loss provision was $15.2 million, indicating management's cautious approach amid a fluctuating economic landscape.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release its first quarter results after the market closes on April 26, 2023. Following this, an investor conference call is scheduled for April 27, 2023, at 11 a.m. Eastern to discuss the quarterly results, which will include a question-and-answer session. Interested parties can join the call by dialing 1-833-470-1428 or via the Internet at www.FIBK.com. A replay will be available approximately one hour after the call ends. As of December 31, 2022, First Interstate BancSystem reported $32 billion in assets, serving a broad community across multiple states.
First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported strong financial results for Q4 2022, with net income of $85.8 million, or $0.82 per diluted share, up from $85.7 million in Q3 2022 and $51.1 million in Q4 2021. 2022's annual net income was $202.2 million, compared to $192.1 million in 2021. Despite acquisition costs related to Great Western Bancorp, loan growth was significant, with an 11.1% annualized increase in loans held for investment. However, the net interest margin decreased to 3.61%. The Company declared a dividend of $0.47 per share, yielding 4.4%. Looking ahead, management expects solid loan growth in 2023 amidst a more challenging economic environment.
FAQ
What is the current stock price of First Interstate BancSystem (FIBK)?
What is the market cap of First Interstate BancSystem (FIBK)?
What services does First Interstate BancSystem, Inc. offer?
In which states does First Interstate Bank operate?
What industries does First Interstate Bank serve?
How does First Interstate Bank support its communities?
What is the primary source of income for First Interstate Bank?
How many banking offices does First Interstate Bank have?
What makes First Interstate Bank a leader in community banking?
Does First Interstate offer online and mobile banking services?
What recent achievements has First Interstate BancSystem, Inc. made?
What is the symbol for First Interstate BancSystem, Inc. Common Stock?
