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First Interstate BancSystem

#3328

Rank

$3.58B

Marketcap

US United States

Country

First Interstate BancSystem
Leadership team

Mr. Kevin P. Riley (Pres, CEO & Director)

Ms. Marcy D. Mutch (Exec. VP & CFO)

Mr. Kirk D. Jensen Esq. (Exec. VP, Gen. Counsel & Corp. Sec.)

Products/ Services
Banking, Finance, Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Billings, Montana, United States
Established
1968
Company Registration
SEC CIK number: 0000860413
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
FIBK
Social Media
Overview
Location
Summary
First Interstate BancSystem, Inc. operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors. The company also offers real estate loans comprising commercial real estate, construction, residential, agricultural, and other real estate loans; consumer loans comprising 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 provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. Further, the company offers marketing, credit review, loan servicing, credit cards issuance and servicing, mortgage loan sales and servicing, indirect consumer loan purchasing and processing, loan collection services, and other operational services, as well as online and mobile banking services. It serves individuals, businesses, municipalities, and other entities in various industries, including agriculture, construction, education, energy, governmental services, healthcare, hospitality, housing, mining, professional services, real estate development, retail, technology, tourism, and wholesale trade. As of December 31, 2021, it operated 147 banking offices, including detached drive-up facilities in communities across Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming. The company was incorporated in 1971 and is headquartered in Billings, Montana.
History

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 10 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 multi-state 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; Great Western locations became First Interstate Bank branches on May 23, 2022.As of 2022, First Interstate has over 300 branches throughout Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming.

Mission
To continuously strengthen our relationships with employees, clients, and communities while driving long-term shareholder value.
Vision
Our vision at First Interstate Bank is to be our customers’ trusted provider - to deliver financial solutions, through technology and relationship-driven service, that exceed their expectations.
Key Team

Mr. Russell A. Lee (Exec. Officer)

Ms. Kristina Robbins (Sr. VP & COO)

Mr. Scott Edward Erkonen (Exec. VP & Chief Information Officer)

Ms. Margie Morse (VP & Investor Relations Officer)

Brittany Cremer (PR & Communications Mang.)

Ms. Rachel B. Turitto (Sr. VP & Chief HR Officer)

Mr. David C. Redmon (Sr. VP & Chief of Staff)

Recognition and Awards
In 2019, First Interstate BancSystem was once again acknowledged as one of the nation's best banks by Forbes. It ranked among the top 10 banks in the nation, earning its third consecutive distinction as the top bank in Montana.
References
First Interstate BancSystem
Leadership team

Mr. Kevin P. Riley (Pres, CEO & Director)

Ms. Marcy D. Mutch (Exec. VP & CFO)

Mr. Kirk D. Jensen Esq. (Exec. VP, Gen. Counsel & Corp. Sec.)

Products/ Services
Banking, Finance, Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Billings, Montana, United States
Established
1968
Company Registration
SEC CIK number: 0000860413
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
FIBK
Social Media