FIBK on Nasdaq

First Interstate Bank

Logo: firstinterstatebank.com5

American Regional Financial Services Company

First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.3 Its shares trade on Nasdaq under the symbol FIBK.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1968Founded1

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  • TickerFIBK on Nasdaq1
  • Industryfinancial services1
  • HeadquartersFirst Interstate Center1
  • Founded inSheridan1
  • Websitewww.firstinterstatebank.com
  • Incorporated inDE6
  • Business address401 No 31St Street, Billings, Mt 591016
  • Filer categoryLarge accelerated filer6
  • Legal formCommercial Bank4
  • LEI549300RFSMIRUODUVW594
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address401 North 31st Street, 59101 Billings, United States4
  • Registered withFederal Deposit Insurance Corporation, 11054

First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income910111213$302.1M in 2025+67% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $181.0M$181.0M20192020: $161.2M$161.2M2020−11%2021: $192.1M$192.1M2021+19%2022: $202.2M$202.2M2022+5%2023: $257.5M$257.5M2023+27%2024: $226.0M$226.0M2024−12%2025: $302.1M$302.1M2025+34%

Every line of the income statement as filed: the last 3 fiscal years, latest first.13

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans$935.6M$1.0B$979.7M
Taxable$199.4M$243.5M$269.1M
Exempt from federal taxes$2.9M$2.8M$3.2M
Interest on deposits in banks$32.7M$22.2M$15.7M
Total interest income$1.2B$1.3B$1.3B
Interest on deposits$299.8M$325.9M$242.6M
Interest on securities sold under repurchase agreements$4.7M$6.7M$6.4M
Interest on other borrowed funds$26.2M$123.4M$133.8M
Interest on long-term debt$10.7M$11.8M$5.8M
Interest on subordinated debentures held by subsidiary trusts$11.2M$13.1M$12.7M
Total interest expense$352.6M$480.9M$401.3M
Net interest income$825.4M$821.6M$878.8M
Provision for credit losses$26.8M$67.8M$32.2M
Net interest income after provision for credit losses$798.6M$753.8M$846.6M
Payment Services Revenues$67.9M$73.6M$76.4M
Revenue from Contract with Customer, Excluding Assessed Tax$8.8M$9.0M$9.5M
Fees and Commissions, Mortgage Banking and Servicing$5.8M$6.6M$8.4M
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions$40.6M$38.8M$35.3M
Service Charges on Deposit Accounts$27.0M$25.7M$23.0M
Investment securities losses, net$0$0-$23.5M
Other income$83.3M$24.4M$17.9M
Total noninterest income$233.4M$178.1M$147.0M
Salaries and wages$274.6M$270.9M$263.1M
Employee benefits$74.6M$76.4M$75.3M
Information Technology and Data Processing$57.5M$56.2M$59.0M
Occupancy, Net$54.8M$48.7M$48.0M
Equipment Expense$20.6M$20.7M$22.1M
OREO expense, net$500.0K$4.1M$1.5M
Professional fees$23.7M$21.6M$19.1M
FDIC insurance premiums$14.4M$24.0M$31.5M
Other intangibles amortization$13.6M$14.6M$15.7M
Other expenses$106.0M$100.2M$121.5M
Total noninterest expense$640.3M$637.4M$656.8M
Income before income tax$391.7M$294.5M$336.8M
Provision for income tax$89.6M$68.5M$79.3M
Net income$302.1M$226.0M$257.5M
Basic earnings per common share (in dollars per share)$2.95$2.19$2.48
Diluted earnings per common share (in dollars per share)$2.94$2.19$2.48
Other Interest and Dividend Income$7.4M$11.8M$12.4M

Compare First Interstate Bank with another company

Corporate structure

First Interstate Bank is part of a group headed by FIRST INTERSTATE BANCSYSTEM, INC.. 15 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of First Interstate Bank

  • FIRST INTERSTATE BANCSYSTEM, INC. Billings, Montana, United States
    • First Interstate Bank Billings, Montana, United States
      • FI Capital Trust II Subsidiary · Delaware, United States
      • FI Capital Trust IV Subsidiary · Delaware, United States
      • FI Statutory Trust I Subsidiary · Connecticut, United States
      • FI Statutory Trust III Subsidiary · Delaware, United States
      • FI Statutory Trust V Subsidiary · Delaware, United States
      • FI Statutory Trust VI Subsidiary · Delaware, United States
      • Great Western Statutory Trust IV Subsidiary · Connecticut, United States
      • GWB Capital Trust VI Subsidiary · Delaware, United States
      • HF Financial Capital Trust V Subsidiary · Delaware, United States
      • HF Financial Capital Trust VI Subsidiary · Delaware, United States
      • Northwest Bancorporation Capital Trust I Subsidiary · Delaware, United States
      • Sunstate Bancshares Trust II Subsidiary · Delaware, United States
    • Great Western Bancorp, Inc. Sioux Falls, South Dakota, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What First Interstate Bank reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$3.5M13 Dec 31, 2025$2.9M13 Dec 31, 2024+20.7%
Property and equipment, before depreciation$651.1M13 Dec 31, 2025$673.1M13 Dec 31, 2024−3.3%
Accumulated depreciation$244.5M13 Dec 31, 2025$245.9M13 Dec 31, 2024−0.6%
Property and equipment, net$406.6M13 Dec 31, 2025$427.2M13 Dec 31, 2024−4.8%

Investments

ItemLatestA year beforeChange
Debt securities held to maturity$2.3B13 Dec 31, 2025$2.7B13 Dec 31, 2024−12.9%
Loans, net of allowance$15.0B13 Dec 31, 2025$17.6B13 Dec 31, 2024−14.9%
Deposits held (banks)$22.1B13 Dec 31, 2025$23.0B13 Dec 31, 2024−4.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.1B13 Dec 31, 2025$1.1B13 Dec 31, 20240%
Indefinite-lived intangibles (excluding goodwill)$53.3M13 Dec 31, 2025$66.8M13 Dec 31, 2024−20.2%
Finite-lived intangibles, gross$177.5M13 Dec 31, 2024$177.5M13 Dec 31, 20230%
Accumulated amortization$124.2M13 Dec 31, 2025$110.7M13 Dec 31, 2024+12.2%
Finite-lived intangibles, net$53.3M13 Dec 31, 2025$66.8M13 Dec 31, 2024−20.2%

Properties, in its own words

Our principal executive offices and one of our banking offices are anchor tenants in an 18-story commercial building located in Billings, Montana. The building is owned by a joint venture limited liability company in which FIB owns a 50.0% interest. We lease approximately 100,000 square feet of office space in the building. We also own a building with approximately 66,000 square feet that houses our operations center in Billings, Montana. As of December 31, 2025, we provided banking services at 289 locations in Colorado, Idaho, Iowa, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming, of which 65 properties are leased from independent third parties, one property was leased from a related entity, and 223 physical properties are owned by us. We believe each of our facilities is suitable and adequate to meet our current operational needs.

As further described in Part I, Item 1. “Business,” we have entered into an agreement to sell 11 branches in Nebraska, which transaction is expected to close in the second quarter of 2026. Additionally, we opened one branch in Montana on February 2, 2026 and intend to close four additional Nebraska branches, one branch in Minnesota, and one branch in North Dakota at the end of February 2026.

Item 2 of the 10-K filed Feb 26, 2026.17

The story

First Interstate Bank was established in 1968 when its founder, Homer Scott, Sr. purchased the Bank of Commerce in Sheridan, Wyoming. Scott incorporated the company in Montana in 1971 and over the next ten years acquired two more banks and established six de novo banks in Montana and Wyoming.

In 1984, the company entered into a franchise agreement with First Interstate Bancorp, a multistate bank holding company headquartered in Los Angeles, California, to use the First Interstate Bank name and logo.

In 1996, Wells Fargo acquired First Interstate Bancorp, but not First Interstate Bank. Instead, the Montana organization successfully negotiated to retain the well-known First Interstate name and logo. In 2017, the company retained the rights to use the First Interstate name and logo in all 50 states.

By the end of 1999, First Interstate had grown to 42 branches through a combination of de novo start-ups and acquisitions.

In 2008, the Bank expanded into South Dakota by acquiring 18 banking offices pursuant to the purchase of First Western Bank.

The Bank extended into Idaho, Oregon and Washington with the acquisitions of Cascade Bancorp in 2017 and Northwest Bancorporation, Inc., in 2018—the parent companies of Bank of the Cascades and Inland Northwest Bank, respectively. In 2019, Idaho Independent and Community 1st Banks joined the Company, officially becoming First Interstate Bank in June of that year.

In September 2021, First Interstate announced a merger with Sioux Falls, South Dakota–based Great Western Bank. The merger was completed on February 1, 2022, making Great Western an operating division of First Interstate Bank and extended the bank's presence into Arizona, Colorado and within the Midwest, with new locations in Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. Great Western locations then became First Interstate Bank branches on May 23, 2022.

From Wikipedia’s article on First Interstate BancSystem, shared under CC BY-SA 4.0.7

Leadership

Who has led First Interstate Bank, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (68)

Products and brands

  • transactional account

Listed on Wikidata.1

Subsidiaries and ownership

Parent company (GLEIF)

Subsidiaries (Exhibit 21)

  • FI Capital Trust II Delaware8
  • FI Capital Trust IV Delaware8
  • FI Statutory Trust I Connecticut8
  • FI Statutory Trust III Delaware8
  • FI Statutory Trust V Delaware8
  • FI Statutory Trust VI Delaware8
  • First Interstate Bank Montana8
  • GWB Capital Trust VI Delaware8
  • Great Western Statutory Trust IV Connecticut8
  • HF Financial Capital Trust V Delaware8
  • HF Financial Capital Trust VI Delaware8
  • Northwest Bancorporation Capital Trust I Delaware8
  • Sunstate Bancshares Trust II Delaware8

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • FIRST INTERSTATE BANCSYSTEM OF MONTANA INCDec 27, 1996 to Mar 9, 19996

Timeline

  1. Sep 16, 20268-K Executive or director change96
  2. Aug 21, 20268-K Executive or director change97
  3. Jul 23, 20268-K Results of operations; Regulation FD disclosure; Other events98
  4. Jul 16, 20268-K Executive or director change99
  5. Jul 9, 20268-K Executive or director change100
  6. May 29, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote101
  7. May 13, 20268-K Executive or director change102
  8. Apr 29, 20268-K Results of operations; Regulation FD disclosure; Other events103
  9. Jan 28, 20268-K Results of operations; Regulation FD disclosure; Other events104
  10. Nov 18, 20258-K Executive or director change105
  11. Oct 29, 20258-K Results of operations; Regulation FD disclosure; Other events106
  12. Oct 16, 20258-K Regulation FD disclosure107
  13. Nov 5, 2024New chief executive James A. Reuter becomes CEO18
  14. Sep 25, 2015New chief executive Kevin P. Riley becomes CEO19
  15. Aug 16, 2013New chief executive Ed Garding becomes CEO20
  16. Mar 24, 2010Went public Listed on NASDAQ1
  17. Jan 30, 2006New chief executive Lyle R. Knight becomes CEO21
  18. 1968Founded Founded in Sheridan1
  19. Oct 9, 1916Parent Directly consolidated by FIRST INTERSTATE BANCSYSTEM, INC.4

Calendar

Coming up

  1. Oct 22, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.69 a share, on Oct 29, 2025.108

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results98
  2. Apr 29, 2026Reported quarterly or annual results103
  3. Jan 28, 2026Reported quarterly or annual results104
  4. Oct 29, 2025Reported quarterly or annual results106
  5. Jul 29, 2025Reported quarterly or annual results109
  6. Apr 29, 2025Reported quarterly or annual results110
  7. Jan 29, 2025Reported quarterly or annual results111
  8. Jan 10, 2025Reported quarterly or annual results112

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

586 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 74 major events, 336 insider forms, 35 large holders, 121 other. The latest 20:

  1. Oct 6, 20264 EDGAR
  2. Sep 22, 20264 EDGAR
  3. Sep 16, 20264 EDGAR
  4. Sep 16, 20264 EDGAR
  5. Sep 16, 20268-K EDGAR
  6. Sep 15, 20263 EDGAR
  7. Sep 14, 20264 EDGAR
  8. Sep 14, 20264 EDGAR
  9. Sep 11, 2026144 EDGAR
  10. Aug 21, 20268-K EDGAR
  11. Aug 18, 2026N-PX EDGAR
  12. Aug 7, 2026SCHEDULE 13G EDGAR
  13. Aug 3, 202610-Q EDGAR
  14. Jul 28, 20264 EDGAR
  15. Jul 24, 20264 EDGAR
  16. Jul 24, 20264 EDGAR
  17. Jul 24, 202613F-HR EDGAR
  18. Jul 23, 20268-K EDGAR
  19. Jul 21, 20263 EDGAR
  20. Jul 21, 20263 EDGAR

The 586 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

100 open-market trades by officers, directors and large owners since October 2021: 10 buys and 90 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2026IXL Ltd Liability Co10% ownerSale2,700$37.64$101.6KForm 4
Sep 14, 2026Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale8,071$37.29$301.0KForm 4
Sep 11, 2026IXL Ltd Liability Co10% ownerSale16,929$37.03$626.9KForm 4
Jul 16, 2026Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale10,000$40.30$403.0KForm 4
Jun 18, 2026Elizabeth Lauren Scott Rose Trust10% ownerSale15,000$35.97$539.5KForm 4
Jun 18, 2026Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale9,390$36.11$339.1KForm 4
Jun 17, 2026Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale4,500$36.29$163.3KForm 4
Jun 4, 2026IXL Ltd Liability Co10% ownerSale12,892$35.58$458.7KForm 4
Apr 30, 2026Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale53,504$35.42$1.9MForm 4
Mar 26, 2026Harrison William Scott Trust10% ownerSale3,000$33.45$100.3KForm 4
Jan 6, 2026IXL Ltd Liability Co10% ownerSale1,827$36.92$67.5KForm 4
Jan 5, 2026IXL Ltd Liability Co10% ownerSale3,173$36.20$114.9KForm 4
Dec 1, 2025Susan Scott Heyneman Trust, Susan Heyneman & First Interstate Wealth Management Co-Trustees10% ownerSale10,000$32.75$327.5KForm 4
Nov 21, 2025Rae Ann Morss & John Heyneman Jr., Trustees FBO Rae Ann Morss Exemption Trust Under the Scott Family 1996 Trust10% ownerSale30,432$31.03$944.3KForm 4
Nov 11, 2025HEYNEMAN JOHN M JRDirectorSale15,000$32.14$482.1KForm 4
Nov 10, 2025HEYNEMAN JOHN M JRDirectorSale20,000$32.06$641.2KForm 4
Nov 3, 2025Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale4,800$31.27$150.1KForm 4
Nov 3, 2025Susan Scott Heyneman Trust, Susan Heyneman & First Interstate Wealth Management Co-Trustees10% ownerSale10,000$30.99$309.9KForm 4
Oct 29, 2025Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale7,000$32.09$224.6KForm 4
Oct 9, 2025Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/0410% ownerSale685$31.66$21.7KForm 4

All 100 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025James A. Reuter61$1.0M$4.6M124
2025Marcy D. Mutch$234.7K$1.5M124
2025Lorrie F. Asker$438.3K$1.3M124
2025Kirk D. Jensen$445.7K$1.1M124
2025Kristina R. Robbins$448.5K$1.1M124
2025David P. Della Camera$403.5K$902.5K124
2025Lori A. Meyer$324.2K$783.3K124
2024President & Chief$138.5K$2.5M124
2024Former Chief FinancialOfficer$540.0K$1.7M124
2024Former Co-Chief BankingOfficer$440.0K$1.4M124
2024General CounselEVP$412.4K$1.1M124
2024Chief Operations Officer,$366.1K$993.3K124
2023General CounselEVP$407.7K$741.9K124
2023EVP$347.0K$631.0K124

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.13,732,702$529.5M0.0%+253,215
State Street Corp6,250,817$241.0M0.0%+359,546
Dimensional Fund Advisors LP5,783,231$223.0M0.0%+152,442
Vanguard Portfolio Management LLC5,506,456$212.3M0.0%+15,918
First Interstate Bank4,614,432$177.9M9.3%−38,687
HoldCo Asset Management, LP3,950,107$152.3M9.8%No change
Wellington Management Group Llp3,768,343$145.3M0.0%−114,094
Vanguard Capital Management LLC3,738,371$144.2M0.0%−117,443
Fmr LLC2,463,971$95.0M0.0%−1,413,225
Geode Capital Management, LLC2,387,561$92.1M0.0%+169,242
Capital International Investors2,341,826$90.3M0.0%+51,254
Victory Capital Management Inc2,149,403$82.9M0.0%+62,480
Nomura Asset Management International Inc.2,018,138$77.8M0.1%+315,060
Morgan Stanley1,639,233$63.2M0.0%+125,083
Bank Of America Corp /de/1,462,281$56.4M0.0%−315,813
Franklin Resources Inc1,427,500$55.0M0.0%−453,746
Jpmorgan Chase & Co1,405,780$54.4M0.0%−300,671
First Trust Advisors LP1,313,141$50.6M0.0%+115,584
Massachusetts Financial Services Co /ma/1,209,484$46.6M0.0%−63,441
Capital World Investors1,178,546$45.4M0.0%+32,152
Charles Schwab Investment Management Inc1,168,761$45.1M0.0%−14,623
UBS Group AG1,057,053$40.8M0.0%−699,239
Cramer Rosenthal Mcglynn LLC1,034,043$39.9M2.0%+119,829
Bank of New York Mellon Corp1,002,675$38.7M0.0%+26,509
Norges Bank978,151$37.7M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 24, 2019Donna Shalala, HouseSale$1,001 - $15,000+171.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How First Interstate Bank is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFIRST INTERSTATE BANCSYSTEM INC2
  • CIK0000860413
  • Employer ID (EIN)81-033143017
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)6022 State Commercial Banks2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address401 No 31St Street, Billings, MT 591012
  • Phone40625553112
  • Shares outstanding95,304,607 as of Jul 30, 202615
  • Public float$2.6B as of Jun 30, 202517
  • AuditorErnst & Young LLP, Salt Lake City, Utah PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceJun 14, 19962
  • Filings2,977 in all: 4 (1,751), 8-K (357), 4/A (109), 10-Q (91), SC 13G/A (91), 3 (88), 144 (68), 425 (40)2
    All 61 form types

    SC 13G (34), DEF 14A (27), 10-K (25), S-8 POS (22), SC 13D/A (22), UPLOAD (18), 5 (17), CORRESP (16), DEFA14A (16), EFFECT (14), 10-Q/A (12), 11-K (12), 8-K/A (12), POS AM (11), S-8 (10), 3/A (8), S-1/A (8), SCHEDULE 13G/A (8), S-4/A (7), 424B3 (6), FWP (6), S-4 (6), SCHEDULE 13G (6), 10-K405 (5), 424B5 (4), 8-A12B/A (4), ARS (4), PRE 14A (4), 10-K405/A (3), REGDEX (3), S-1 (3), S-3ASR (3), 144/A (2), 305B2 (2), 8-A12G/A (2), RW (2), S-3 (2), 10-K/A (1), 11-K/A (1), 13F-HR (1), 15-12G (1), 15-15D (1), 424B1 (1), 424B4 (1), 5/A (1), 8-A12B (1), 8-A12G (1), CERTNAS (1), NT 10-K (1), PRER14A (1), RW WD (1), S-1MEF (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Apr 16, 2026
    Latest 8-K (8-K) Sep 16, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.00001 par valueFIBKNASDAQ

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks First Interstate Bank names in Item 1A of its 10-K filed Feb 26, 2026: 41 risks under these headings, as written.17

  • Regulatory and Compliance Risks
  • New governmental regulations and/or changes in existing governmental regulations, or in the way such regulations are interpreted or enforced, could have a material adverse effect on the Company.
  • Negative developments in the banking industry could result in increased regulatory scrutiny.
  • Tax legislative initiatives or assessments could adversely affect our results of operations and financial condition.
  • We may be subject to more stringent capital requirements in the future, the impact of which could have a material risk to our operations.
  • Changes in accounting standards could materially negatively impact our financial statements.
  • Any failure to comply with laws and regulations, including the Community Reinvestment Act (CRA) and fair lending laws, could lead to material penalties.
  • We are subject to the USA PATRIOT Act, OFAC guidelines and requirements, the Bank Secrecy Act (“BSA”), and related Financial Crimes Enforcement Network (“FinCEN”) and Federal Financial Institutions Examination Council (“FFIEC”) Guidelines and regulations and any failure to comply with them could result in material implications that could harm our business.
  • Federal deposit insurance assessment rates could increase further in the future.
  • Credit Risks
  • We may be subject to lending risks and risks associated with loan portfolio concentrations, which could adversely affect the Company.
  • A decline in economic conditions could reduce demand for our products and services and negatively impact the credit quality of loans, which could have an adverse effect on our results of operations.
The other 31 risks
  • If we experience credit losses on loans in excess of estimated amounts, our earnings could be adversely affected.
  • United States trade policies and other factors beyond the Company’s control, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations.
  • The soundness of other financial institutions could adversely affect the Company.
  • Liquidity Risks
  • We are subject to liquidity risks which could impair our cash flows and adversely affect the Company.
  • Loss of deposits or a change in deposit mix could increase the Company’s funding costs and negatively affect the Company’s operations.
  • Our liquidity could be impacted by an inability to access funding, by an unforeseen outflow of cash, or by the inability to monetize liquid assets.
  • Market Risks
  • Changes in interest rates may have an adverse effect on demand for our products and services and on our profitability.
  • Changes in interest rates may have an adverse effect on the value of our investment securities.
  • Operational Risks
  • Our Company faces cybersecurity risks, including denial-of-service attacks, network intrusions, business e-mail compromise, and other malicious behavior that could result in the disclosure of confidential information, adversely affect our business or reputation, and create significant legal, operational, and financial exposure.
  • Privacy, information security, and data protection laws, rules, and regulations could affect or limit how we collect and use personal information, increase our compliance and technology costs, create litigation and regulatory enforcement risks, and adversely affect our business opportunities.
  • Our goodwill and other intangible assets may become impaired, which may adversely impact our results of operations and financial condition.
  • The Company relies on third parties to provide certain key components of its business infrastructure.
  • Our reputation is very important to our ability to maintain, attract and retain client relationships and if our reputation were impaired, it could have an adverse effect on the Company.
  • The results of mainstream media and social media contagion and speculation could impact the banking system and have an adverse effect on us.
  • We are dependent upon the services of our management team and directors and if the services of any of them were to become unavailable, it could have an adverse effect on the Company.
  • We may not be able to attract and retain qualified employees to operate our business effectively, which could have an adverse effect on our business.
  • Costs associated with repossessed properties, including potential environmental remediation, may adversely impact our results of operations, cash flows, and financial condition.
  • If we fail to maintain effective operational processes, policies and procedures, and internal control over financial reporting, our ability to accurately and timely report our financial results may be impacted, which could result in a loss of investor confidence and adversely impact our stock price and our business.
  • We may not effectively implement technology-facilitated products and services or be successful in marketing these products and services to our clients, which could negatively impact our business.
  • The development and use of AI by us or others, or our inability to effectively and timely implement its use, may adversely affect the Company.
  • Strategic Risks
  • Acquisitions, mergers, strategic partnerships, divestitures, and other transactions introduce a broad range of anticipated and unanticipated risks, which may prevent us from achieving the expected benefits from these transactions, investments, or relationships.
  • The Company may experience significant competition from new or existing competitors, which may reduce its client base or cause it to adjust prices for its products and services in order to maintain market share.
  • Investing in technology, and the inability or failure to integrate technologies into the Company’s operations may affect our business and earnings negatively.
  • We may incur significant costs related to future acquisitions by merger and subsequent integration activities.
  • Common Stock Risks
  • Volatility in the price and volume of our common stock may be unfavorable.
  • “Anti-takeover” provisions and the regulations to which we are subject may also make it more difficult for a third party to acquire control of us, even if the change in control could be deemed beneficial to stockholders.
  • Our dividend policy, or our ability to pay dividends, may change.
  • Future equity issuances could result in dilution, which could cause our common stock price to decline.
  • The common stock is equity and is subordinate to our existing and future indebtedness.
  • We may not realize the anticipated benefits of our stock repurchase program, and the timing and level of shares of our common stock repurchased may have an adverse impact.
  • General Risk Factors
  • Climate change manifesting as physical or transition risks could adversely affect our operations, businesses and customers.

Legal proceedings

In the normal course of business, we may be named or threatened to be named as a defendant in various lawsuits. We record accruals for outstanding legal matters when it is believed to be probable that a loss will be incurred and the amount can be reasonably estimated. Management, following consultation with legal counsel, does not expect the ultimate disposition of any or a combination of any such ongoing or anticipated matters to have a material, adverse effect on our business, financial condition, or operating results.

The opening of Item 3, Legal Proceedings.17

Sources

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