First Interstate BancSystem, Inc. - FIBK STOCK NEWS

First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported a net income of $85.7 million, or $0.80 per share, for Q3 2022, marking a significant increase from $64.1 million in Q2 2022. The net interest margin improved to 3.71%, up 46 basis points from Q2 2022, driven by accelerated loan growth. However, the company faced an $8.4 million provision for credit losses and $24.2 million in realized losses from investment securities. A cash dividend of $0.47 per share was declared, reflecting a 14.6% increase. Despite challenges, loan growth and margins indicate a positive trajectory.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) has appointed Ashley Hayslip as Executive Vice President and Chief Banking Officer effective November 28, 2022. She will lead the retail and commercial banking teams and oversee wealth management and investment services. Kevin Riley, President and CEO, expressed confidence in Hayslip's experience, which includes significant roles at Umpqua Bank, Bank of the West, and Zions Bancorp. Hayslip's appointment follows the retirement announcement of Russell A. Lee, the outgoing Chief Banking Officer.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release its third quarter earnings on October 25, 2022, after market close. An investor conference call is set for October 26, 2022, at 11 a.m. Eastern. The conference call is accessible via telephone at 1-833-927-1758 or through the company's website. First Interstate BancSystem operates First Interstate Bank, with $32 billion in assets as of June 30, 2022, providing financial services across multiple states.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported a strong second quarter for 2022, with a net income of $64.1 million, or $0.59 per share, a notable recovery from a net loss of $33.4 million in Q1 2022. This increase was supported by a 33.7% rise in net interest income to $237.9 million and improved asset quality. The recently completed acquisition of Great Western Bancorp is expected to yield cost savings and enhance profitability. However, earnings were impacted by $45.8 million in acquisition costs.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will report its second quarter results on July 26, 2022, after the market closes. An investor conference call is scheduled for July 27 at 11 a.m. Eastern, where quarterly results will be discussed, including a Q&A session. The call is accessible by phone or online. With $33 billion in assets as of March 31, 2022, First Interstate is a leader in community banking across multiple states in the U.S. Further details can be found on their website.

First Interstate BancSystem, Inc. has successfully converted all Great Western Bank branches to operate as First Interstate Bank, expanding its reach to eight new states and bringing total branches to over 300. This strategic move enhances client service by providing additional products and digital tools. First Interstate also committed to community support, donating $21.5 million to its philanthropic foundation post-merger. With assets of $33 billion (as of March 31, 2022), First Interstate aims to reinforce its community banking leadership.

First Interstate BancSystem (NASDAQ: FIBK) reported a net loss of $33.4 million, or $0.36 per share, for Q1 2022, significantly down from a net income of $51.1 million in Q4 2021. The loss was impacted by pre-tax acquisition costs of $65.2 million from the acquisition of Great Western Bancorp, which was finalized on February 1, 2022, for about $1.7 billion. Despite challenges, total assets surged 68.6% to $33.2 billion, primarily driven by the acquisition. Net interest income rose 46.1% to $178 million, aided by an increased net interest margin ratio of 2.80%.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release first quarter results on April 28, 2022, after market close. An investor conference call is scheduled for April 29, 2022, at 11 a.m. Eastern to discuss these results. The call can be accessed by phone or online, and a rebroadcast will be available post-call. First Interstate BancSystem is a prominent financial services holding company based in Billings, Montana, with $19.6 billion in assets as of December 31, 2021.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) announced the automatic conversion of all outstanding Class B common stock into Class A common stock at a 1:1 ratio prior to market opening. This change, mandated by their Articles of Incorporation, eliminates the differing voting rights between the two classes. The conversion does not alter the economic rights of shareholders and FIBK will no longer be classified as a 'controlled company' under NASDAQ rules. Class A common stock will continue to trade under the ticker symbol 'FIBK' with no required stockholder action.