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Great Western Bancorp reported a net income of $39.2 million, or $0.71 per diluted share, for Q4 2021, down from $51.9 million or $0.93 per share in Q3 2021. Net interest income was $95.3 million, with a net interest margin of 3.05%. Total loans decreased to $8.13 billion, impacted by a reduction in PPP loans. However, total deposits increased to $11.76 billion. The company has improved asset quality with a 12.8% decrease in nonperforming assets. A merger with First Interstate Bancorp is anticipated to close around February 1, 2022.
First Interstate BancSystem (NASDAQ: FIBK) and Great Western Bancorp (NYSE: GWB) have received all necessary regulatory clearances and shareholder approvals for their merger. The transaction is set to combine both banks, operating under the First Interstate BancSystem name, with headquarters in Billings, Montana. The merger aims to establish a diversified banking franchise with over 300 branches across 14 states and assets exceeding $32 billion. The merger is expected to complete by February 1, 2022, with client account conversions anticipated in May 2022.
Great Western Bancorp, Inc. (NYSE:GWB) announced that it will release its financial results for the quarter ending December 31, 2021, on January 27, 2022. This release coincides with the earnings conference call of First Interstate BancSystem, Inc. (NASDAQ:FIBK) on January 28, 2022. Notably, GWB will not conduct its own earnings call this quarter. The financial results and accompanying slide presentation will be accessible on the Company's Investor Relations website.
First Interstate BancSystem (FIBK) and Great Western Bancorp (GWB) have received regulatory approvals for their proposed merger, expected to close in February 2022. The merger will create a community-focused banking franchise with over 300 branches across 14 states and combined assets exceeding $32 billion. FIBK aims to expand its model into eight new states. Shareholders will vote on the merger on January 19, 2022. The combined entity will operate under the First Interstate name and maintain headquarters in Billings, Montana.
The Board of Directors of Great Western Bancorp (NYSE: GWB) has declared a quarterly cash dividend of
Great Western Bancorp reported a net income of $51.9 million, or $0.93 per diluted share, for the quarter ending September 30, 2021, down from $58.7 million, or $1.06 per share in the previous quarter. Net interest income fell to $95.1 million, a decrease from $99.1 million. The total loans decreased by $292.7 million to $8.19 billion, while total deposits declined $227.3 million to $11.31 billion. A pending merger with First Interstate Bancorp is expected to close in Q1 2022.
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 (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
Great Western Bancorp reported a net income of $58.7 million, or $1.06 per diluted share, for Q3 FY2021, an increase from $51.3 million the previous quarter. The reduction of nonaccrual loans by $74.4 million reflects improved asset quality, with a year-to-date decrease of 35.3%. Net interest income fell to $99.1 million, down $5.3 million due to lower loan interest. The bank successfully managed credit losses, achieving a 3.19% allowance for credit losses. The board declared a $0.05 dividend, up from $0.01.
