First Interstate BancSystem
Provides relationship banking, lending, payments and wealth services across Western and Midwestern communities.
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Profile
Provides deposits, commercial and real estate lending, mortgages, payment services and wealth management through a regional community-bank network. Earnings rely mainly on net interest income, with local decision-making supported by centralized risk and operations across Western and Midwestern markets.
Operates First Interstate Bank, a community-banking network serving individuals, businesses and government entities across 12 Western and Midwestern states. Core activities span deposits; commercial, commercial real estate, construction, agricultural, residential mortgage and consumer lending; and mortgage servicing.
Adds fee income through treasury management, debit and merchant payment services, and wealth management covering trust, employee-benefit, investment, insurance, agency and custody work. A flatter state-led organization gives local offices meaningful authority while centralized credit, technology, compliance and other support functions provide common controls.
Revenue is driven chiefly by the spread earned on loans and securities over deposit and other funding costs, supplemented by service fees. Credit performance, regional economic conditions and interest rates shape results, while Federal Reserve and bank regulation govern capital, permitted activities and transfers from the bank subsidiary.
Company facts
Categories
Key statistics
Year to date +4.9% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Wells Fargo | Reiterate | Underweight | $30 | $34 | |
| Aug 3, 2026 | Barclays | Downgrade | Positive | Underweight | $38 | $37 |
| May 27, 2026 | DA Davidson | Downgrade | Buy | Neutral | $39 | |
| May 1, 2026 | UBS | Reiterate | Sell | $38 | $33 | |
| May 1, 2026 | Keefe, Bruyette & Woods | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.64 | $0.87 | +35.9% | $249.3M | $263.9M | +5.8% | +0.05% |
| Apr 29, 2026Q1 FY26 | $0.60 | $0.61 | +1.7% | $242.8M | $241.8M | −0.4% | +3.08% |
| Jan 28, 2026Q4 FY25 | $0.64 | $1.08 | +68.8% | $258.8M | $313.0M | +21.0% | −1.42% |
| Oct 29, 2025Q3 FY25 | $0.59 | $0.69 | +16.9% | $253.7M | $250.5M | −1.3% | −1.96% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $345.3M | $338.6M | $335.7M | $313.0M | $242.9M | $61.7M | |
| Gross profit | $227.0M | $248.6M | $250.5M | $305.9M | $236.2M | $210.1M | |
| Operating income | $66.4M | $93.5M | $92.6M | $139.2M | $77.5M | $108.2M | |
| Net income | $50.2M | $71.7M | $71.4M | $108.8M | $60.2M | $83.9M | |
| Diluted EPS | $0.49 | $0.69 | $0.69 | $1.08 | $0.61 | $0.87 | |
| Gross margin | 65.7% | 73.4% | 74.6% | 97.7% | 97.2% | 340.5% | |
| Operating margin | 19.2% | 27.6% | 27.6% | 44.5% | 31.9% | 175.4% |
Fiscal years (4-quarter sums)FY21 $656.0M · FY22 $1.18B · FY23 $1.43B · FY24 $1.48B · FY25 $1.33B
Balance sheet, Jun 30, 2026Cash & short-term investments $8.33B · Total debt $751.9M · Total assets $25.89B · Shareholders' equity $3.32B
Dividends
Raised for 15 straight years — most recently to $0.47 from $0.41 in Nov 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 4, 2026 | Aug 4 | Aug 14 | $0.47 | |
| May 11, 2026 | May 11 | May 21 | $0.47 | |
| Feb 10, 2026 | Feb 10 | Feb 20 | $0.47 | |
| Nov 10, 2025 | Nov 10 | Nov 20 | $0.47 | |
| Aug 11, 2025 | Aug 11 | Aug 21 | $0.47 | |
| May 12, 2025 | May 12 | May 22 | $0.47 | |
| Feb 10, 2025 | Feb 10 | Feb 20 | $0.47 | |
| Nov 4, 2024 | Nov 4 | Nov 14 | $0.47 |
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 97.14M · Float 82.76M · 85.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.73M | 14.14% | 13F | Aug 7, 2026 |
| State Street Corporation | 6.25M | 6.40% | 13G | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 5.78M | 5.95% | 13F | Aug 11, 2026 |
| Vanguard Portfolio Management LLC | 5.51M | 5.67% | 13F | Aug 13, 2026 |
| First Interstate Bank | 4.61M | 4.75% | 13F | Jul 24, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 16, 2026 | Jonathan R. Scott | 10 percent owner | −10,000 | $40.30 |
| Jun 17, 2026 | Jonathan R. Scott | 10 percent owner | −4,500 | $36.29 |
| Jun 18, 2026 | Jonathan R. Scott | 10 percent owner | −9,390 | $36.11 |
| Jun 18, 2026 | Julie A. Scott | 10 percent owner | −15,000 | $35.97 |
| Jun 4, 2026 | Jonathan R. Scott | 10 percent owner | −12,892 | $35.58 |
Peers
- Glacier Bancorp
Closest Mountain West rival; dense MT head-to-head plus PNW and WY overlap.
- Columbia Banking System
$70B Pacific Northwest anchor; direct OR/WA/ID and AZ/CO overlap.
- UMB Financial
Post-HTLF $73B Kansas City regional on the Great Western legacy footprint.
- Banner
Walla Walla PNW community bank; WA/OR/ID commercial, ag, and SBA overlap.
- WaFd
Nine-state western bank, $28B assets, deep PNW and Arizona overlap.
- Zions Bancorporation
Intermountain multi-brand regional, ~$89B assets; ID/WY/CO/AZ and PNW overlap.
- Commerce Bancshares
Near-twin in scale; Kansas City Commerce Bank anchors MO/KS/CO overlap.
- Eagle Bancorp Montana
Pure Montana community bank competing head-to-head across 30 MT branches.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| First Interstate BancSystem | $37.04 | 0.00% | $3.60B | 11.4 | 13.3 | 3.8 | +6.3% |
| Glacier Bancorp | $46.88 | +0.02% | $6.10B | 19.0 | 13.9 | 4.0 | +36.8% |
| Columbia Banking System | $30.07 | 0.00% | $8.50B | 12.0 | 9.6 | 2.4 | +33.1% |
| UMB Financial | $144.59 | +0.07% | $10.98B | 12.0 | 11.0 | 2.4 | +22.9% |
| Banner | $70.50 | −0.01% | $2.40B | 11.6 | 11.3 | 3.6 | +6.1% |
| WaFd | $36.09 | 0.00% | $2.67B | 11.0 | 10.9 | 1.9 | +10.3% |
| Zions Bancorporation | $67.78 | −0.01% | $9.89B | 8.6 | 10.3 | 1.9 | +4.8% |
| Commerce Bancshares | $58.04 | +0.02% | $8.46B | 14.1 | 13.1 | 3.9 | +11.9% |
| Eagle Bancorp Montana | $22.70 | −0.35% | $180.8M | 11.1 | 10.7 | 1.8 | +6.9% |
| Median | 11.8 | 10.9 | 2.4 | +11.1% |