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First Interstate BancSystem, Inc. operates as a bank holding company for First Interstate Bank that provides a range of banking products and services in the United States. The company offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services, including administration of estates and personal trusts; manages investment accounts for individuals; employee benefit plans and charitable foundations; and insurance planning. The company's loan portfolio includes real estate loans, such as commercial real estate, construction, residential, agricultural, and other real estate loans; consumer loans, including direct personal loans, credit card loans and lines of credit, and indirect loans; variable and fixed rate commercial loans for small and medium-sized manufacturing, wholesale, retail, and service businesses for working capital needs and business expansions; and agricultural loans. In addition, it offers marketing, credit review, loan servicing, credit cards servicing, mortgage loan sales and servicing, indirect consumer loan and processing, loan collection services, other operational, and specialized staff support services, as well as online and mobile banking services. The company serves individuals, businesses, municipalities, and other entities in various industries, including agriculture, construction, education, governmental services, healthcare, hospitality, housing, professional services, real estate development, retail, technology, tourism, and wholesale trade. First Interstate BancSystem, Inc. was formerly known as First Interstate Bancsystem Of Montana, Inc. and changed its name to First Interstate BancSystem, Inc. in June 1993. The company was founded in 1879 and is headquartered in Billings, Montana.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | - | $302M | $278M | 8.8% | 5.9% | 33.7% |
| 2024 | $1000M | - | $226M | $332M | 6.8% | -2.5% | -12.2% |
| 2023 | $1.0B | - | $258M | $400M | 8.0% | -7.2% | 27.3% |
| 2022 | $1.1B | - | $202M | $524M | 6.6% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,105.80 | 1,025.80 | 999.70 | 1,058.80 |
| Operating Revenue | - | 1,105.80 | 1,025.80 | 999.70 | 1,058.80 |
| Selling General And Administration | - | 373.60 | 369.90 | 371.30 | 363.60 |
| Interest Income | - | 1,021.50 | 1,280.10 | 1,302.50 | 1,178 |
| Interest Expense | - | 78.90 | 401.30 | 480.90 | 352.60 |
| Net Interest Income | - | 942.60 | 878.80 | 821.60 | 825.40 |
| Pretax Income | - | 257.10 | 336.80 | 294.50 | 391.70 |
| Tax Provision | - | 54.90 | 79.30 | 68.50 | 89.60 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -19.14 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 202.20 | 257.50 | 226 | 302.10 |
| Net Income From Continuing And Discontinued Operation | - | 202.20 | 257.50 | 226 | 302.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 202.20 | 257.50 | 226 | 302.10 |
| Net Income | - | 202.20 | 257.50 | 226 | 302.10 |
| Net Income Common Stockholders | - | 202.20 | 257.50 | 226 | 302.10 |
| Net Income Including Noncontrolling Interests | - | 202.20 | 257.50 | 226 | 302.10 |
| Normalized Income | - | 301.96 | 257.50 | 226 | 302.10 |
| Diluted NI Availto Com Stockholders | - | 202.20 | 257.50 | 226 | 302.10 |
| Basic Average Shares | - | 103.27 | 103.75 | 102.98 | 102.57 |
| Diluted Average Shares | - | 103.34 | 103.78 | 103.19 | 102.83 |
| Reconciled Depreciation | - | 55.50 | 53.80 | 57 | 50.80 |
| Total Unusual Items | -11.60 | -118.90 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | -11.60 | -118.90 | 0 | 0 | - |
| Special Income Charges | -11.60 | -118.90 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | 11.60 | 118.90 | 0 | 0 | - |
| Gain On Sale Of Security | - | -24.40 | -23.50 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 15.90 | 15.70 | 14.60 | 13.60 |
| Depreciation And Amortization In Income Statement | - | 15.90 | 15.70 | 14.60 | 13.60 |
| General And Administrative Expense | - | 373.60 | 369.90 | 371.30 | 363.60 |
| Other Gand A | 32.80 | - | - | - | - |
| Salaries And Wages | - | 359.60 | 338.40 | 347.30 | 349.20 |
| Insurance And Claims | - | 14 | 31.50 | 24 | 14.40 |
| Amortization | - | 15.90 | 15.70 | 14.60 | 13.60 |
| Amortization Of Intangibles Income Statement | - | 15.90 | 15.70 | 14.60 | 13.60 |
| Occupancy And Equipment | - | 67.40 | 70.10 | 69.40 | 75.40 |
| Professional Expense And Contract Services Expense | - | 19.10 | 19.10 | 21.60 | 23.70 |
| Other Non Interest Expense | - | 171.10 | 182 | 160.50 | 164 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| First Interstate BancSystem, Inc.this co. | FIBK | $3.5B | 11.49↓ discount | 1.01 | 8.8% | - |
| BancFirst Corporation | BANF | $3.7B | 15.37 | 1.99 | 13.0% | - |
| Bread Financial Holdings, Inc. | BFH | $3.7B | 7.11 | 1.11 | 15.6% | 4.25 |
| CVB Financial Corp. | CVBF | $3.6B | 17.23 | 1.57 | 9.1% | - |
| BankUnited, Inc. | BKU |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $3.4B |
| 12.80 |
| 1.13 |
| 8.8% |
| - |
| Community Financial System, Inc. | CBU | $3.3B | 15.84 | 1.66 | 10.5% | - |
| First Hawaiian, Inc. | FHB | $3.3B | 11.99 | 1.20 | 10.0% | - |
| Assured Guaranty Ltd. | AGO | $3.3B | 6.50 | 0.58 | 8.9% | - |
| Genworth Financial, Inc. | GNW | $3.2B | 14.56 | 0.37 | 2.5% | - |
| Peer Median | - | 13.68 | 1.16 | 9.5% | 4.25 | |