First Interstate BancSystem, Inc. - FIBK STOCK NEWS

First Interstate BancSystem, Inc. (NASDAQ: FIBK) reported a net income of $47.1 million or $0.76 per share for Q3 2021, up from $42.5 million in Q2 2021. The result includes $6.6 million in pre-tax costs for the pending acquisition of Great Western Bancorp. Loans held for investment decreased by $212.2 million or 2.2%, affected by a 48.6% drop in PPP loans. Deposits increased to $16 billion, up 2.8%. Non-interest income rose 12.5% to $39.7 million, driven by mortgage banking and payment services. A dividend of $0.41 per share was declared, yielding an annualized 3.9%.

Great Western Bancorp, Inc. (NYSE:GWB) announced it will release financial results for the quarter ending September 30, 2021 on October 26, 2021. This date aligns with the earnings release of First Interstate BancSystem, Inc. (NASDAQ:FIBK) on October 27, 2021. Notably, the company will not conduct an earnings conference call this quarter. The earnings press release and supplemental slide presentation will be available on the Investor Relations website.

Great Western Bancorp, Inc. (NYSE:GWB) will release its financial results for the quarter ending September 30, 2021, on October 28, 2021. Due to its upcoming merger with First Interstate BancSystem, Inc. (NASDAQ:FIBK), no earnings conference call will be held this quarter. The press release and a related slide presentation will be accessible on the Company's Investor Relations website.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will report its third quarter financial results on October 26, 2021, after market closure. An investor conference call is scheduled for October 27, 2021, at 11 a.m. Eastern, to discuss the results, featuring a Q&A session. Access to the call will be available via phone and online, with a rebroadcast option following the event. As of June 30, 2021, First Interstate Bank holds $18.9 billion in assets, serving clients across multiple states, including Idaho, Montana, and Oregon.

First Interstate BancSystem (NASDAQ: FIBK) and Great Western Bancorp (NYSE: GWB) have reached a definitive agreement for an all-stock transaction, merging GWB into FIBK. This move will expand FIBK's operations into eight new states, resulting in over 300 branches across 14 states and combined assets exceeding $32 billion. The merger is expected to close in Q1 2022, pending approvals, and aims to enhance financial performance, community engagement, and leadership strength. GWB shareholders will receive 0.8425 shares of FIBK stock for each GWB share owned.

First Interstate BancSystem (NASDAQ: FIBK) reported Q2 2021 net income of $42.5 million ($0.69/share), down from $51.4 million ($0.83/share) in Q1 2021. Loans held for investment decreased 0.3% to $9.83 billion, largely due to a 29.6% drop in PPP loans. Total deposits rose 3.1% to $15.57 billion, reflecting strong demand. Non-performing assets fell 13.8% to $37.6 million. However, net interest income fell by 1.6% to $118.8 million, driven by reduced PPP fees. A dividend of $0.41/share was declared, yielding 3.6% based on Q2 closing prices.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release its second quarter financial results on July 27, 2021, after market close. An investor conference call is set for July 28, 2021, at 11 a.m. Eastern to discuss these results, including a Q&A session. Shareholders and analysts can join the call by dialing 1-877-507-0356 or through their website at www.FIBK.com. With $18.4 billion in assets as of March 31, 2021, First Interstate is a prominent community bank serving multiple states in the Northwest.

First Interstate BancSystem (NASDAQ: FIBK) reported a significant increase in net income for Q1 2021, reaching $51.4 million or $0.83 per share, marking a 75.4% year-over-year growth. Total deposits grew by $877 million to $15.094 billion, with a 6.2% quarterly increase. Non-performing assets decreased by 13.7%, reflecting improved credit quality. However, net interest income fell by 6.0% to $120.7 million, alongside a decrease in the net interest margin to 3.04%.

First Interstate BancSystem, Inc. (NASDAQ: FIBK) will release first quarter financial results after market close on April 27, 2021. An investor conference call is scheduled for April 28, 2021, at 11 a.m. Eastern, where company executives will discuss results and address questions. Investors and interested parties can join the call by dialing 1-877-507-0356 or via the Internet at www.FIBK.com. The company, headquartered in Billings, Montana, has $17.6 billion in assets as of December 31, 2020, and serves multiple states including Idaho and Oregon.