First Interstate Bank

First Interstate Bank

Regional community bank with wealth management

Overview

First Interstate Bank provides retail and commercial banking and wealth management across 14 Western states. Its products include checking and savings, loans (mortgages and business loans), deposits, and wealth-management services like investment advisory, trust, and retirement planning. It differentiates itself through a strong community focus, local involvement, and relationship-based service rather than an impersonal national model. Its goal is to help individuals, families, and businesses grow and prosper through dependable financial services and community support.

About First Interstate Bank

Simplify's Rating
Why First Interstate Bank is rated
C
Rated C on Competitive Edge
Rated C on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

5,001-10,000

Company Stage

IPO

Headquarters

Billings, Montana

Founded

1968

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Simplify's Take

What believers are saying

  • Q1 2026 EPS of $0.61 beat forecasts, driving a 1.66% premarket stock rise to $35.
  • Management targets net interest margin above 3.50% by year-end 2026 after repurchasing $118M stock in 2025.
  • The $125M Tier 2 capital notes deal with 7.625% yield bolsters capital reserves transitioning to floating in 2030.

What critics are saying

  • Net charge-offs rose to $22.1M in Q4 2025 while exiting indirect lending and outsourcing consumer cards.
  • Analyst price targets trimmed 16% from $36.00 to $30.13 due to depressed revenue growth and profitability assumptions.
  • Geographic concentration risk emerges from consolidating to 10 contiguous states with no diversification after exiting Arizona and Kansas.

What makes First Interstate Bank unique

  • First Interstate consolidates to a contiguous 10-state footprint, exiting Arizona and Kansas.
  • The bank automated treasury onboarding with Prolific Banking's On-Ramp solution since early 2025.
  • It hired Michael Sparks as credit risk director, leveraging his UMB and Bank of the West experience.

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Funding

Total Funding

$270M

Above

Industry Average

Funded Over

3 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Paid Vacation

Child Care Assistance Program

401(k) Retirement Plan

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Wellness Program

Stock Price

Company News

Lincoln County Leader
Jul 25th, 2026
$30M investment to support Oregon sawmill expansion project.

$30M investment to support Oregon sawmill expansion project. * U.S. Department of Agriculture * 3 hrs ago * 0 U.S. Department of Agriculture Rural Development Oregon State Director Jim Carmack today announced that Clatskanie Scion LLC will receive $30 million to finance a new sawmill. Clatskanie Scion LLC will use the funding to expand operations for Myers Woodline to manufacture industrial lumber products and bolster the region's timber industry. This project includes construction to permanent financing for a new sawmill and installation of related equipment and is expected to create at least 35 jobs. "Agriculture Secretary Brooke Rollins and the Trump Administration is increasing domestic timber production and unleashing America's affordable and reliable energy sources," said Carmack. "This project is a win for job creation, rural prosperity and timber production in Oregon. It helps turn would-be excess forest fuel into valuable products while supporting local businesses." "Oregon's working forests depend on a strong wood products industry and investments like this one keep that relationship productive," U.S. Forest Service Pacific Northwest Region Regional Forester Jacque Buchanan said. "Turning excess forest fuels into marketable timber supports active management, reduces wildfire risk, and sustains the rural communities that have always been part of how we care for these lands." "The ultimate goal of USDA Rural Development's business programs is to support rural job growth and economic opportunity," said Mandie Cole, Business Programs Director for USDA Rural Development in Oregon. "This project is an example of that, and we're excited to witness the economic benefits that will play out over the long-term." This project is funded through USDA's Timber Production and Expansion Guaranteed Loan Program (TPEP) and Business & Industry Guaranteed Loan Program in partnership with lender First Interstate Bank. TPEP is made possible by a partnership between the USDA Rural Development and the U.S. Forest Service and ensures sawmills and other wood processing facilities have the necessary funding to establish, reopen, expand, or improve their operations. The program also helps address the wildfire crisis by investing in local sawmills that clear out dangerous fuel in its forestlands, helping to remove the most immediate threats to communities, critical infrastructure, and natural resources. Since its inception, USDA has invested $165.2 million through TPEP in the states of California, Idaho, Kansas, Louisiana, Maine, Nevada, Oklahoma, Oregon, Virginia, and Wisconsin.

Bigfork Eagle
Jul 22nd, 2026
Creston Fire Department named recipient of surprise $25,000 grant from First Interstate Bank.

Creston Fire Department named recipient of surprise $25,000 grant from First Interstate Bank. Volunteers of the Creston Fire Department stand with employees from First Interstate Bank after the surprise presentation of a $25,000 grant on July 16. (Elsa Ericksen/Bigfork Eagle) Bigfork Eagle | July 22, 2026 12:00 AM With evening thunderstorms brewing on the horizon, a dozen volunteer firefighters from Creston Fire Department delayed their weekly training last week as Susan Williams, a Many Lakes resident and First Interstate Bank employee, profusely thanked the group for all they did in the community. Softspoken and admittedly frightened of public speaking, her words were hard to hear over the traffic rushing past Fire Station 251. What wasn't difficult to hear, though, were the audible gasps when Williams flipped over the jumbo check in her hands and revealed an unexpected number: a $25,000 grant to the Creston Fire Department. The gasps gave way to whoops of joy, and a few firefighters, sounding incredulous, shouted, "Thank you!" Some wiped tears from their eyes, and all looked shocked at the surprise gift. The Creston Fire Department was one of 40 recipients of First Interstate Bank's "Believe in Local" initiative. In its fifth year, the program doles out forty $25,000 grants to nonprofits making a difference in their community, according to First Interstate Foundation's Executive Director Amberly Pahut. Creston Fire Department was selected from a pool of more than 620 nominees across a dozen states. "It's really about how you show up for your community," said Pahut. "This is an entire group of volunteers who are amazing. They are called on at some of the hardest times in people's lives, and there are some things that are incredibly tragic, but at the same time, they're the first beacon of hope, and that's incredibly important." "The money is really nice, and we can use that very much because we're all volunteers here," said Fire Chief Gary Mahugh, moments after receiving the check. "But it's the community support that probably means the most to everybody; just having people that believe in what we do. It's a tough job. We don't get a lot of thanks usually, and it's just nice to be recognized for what we do." Established in 1957, the Creston Fire Department covers 83 square miles and is staffed entirely by volunteer personnel. The department's 30 volunteers responded to more than 400 calls in 2025, a number that has nearly doubled in the last decade as Creston has grown. The department receives funding from Flathead County, around $272,000 a year or $23 per person in the Creston Fire District. According to the department, the district tax levy has not increased since the department was established. The fire department instead relies on donations to supplement funding from the County and purchase the necessary fire and medical equipment, personal protective gear and wildland fire gear. Currently, Creston Fire is undertaking the ambitious goal of constructing a new fire station, to replace Fire Station 251 which has been in use since the 1960s, entirely using fundraised dollars. The aging building is not designed for modern fire equipment and barely accommodates the weekly training sessions held there. First Interstate Bank considered these factors when selecting Creston Fire Department for the grant. Pahut explained that organizations are first nominated by employees at First Interstate Bank across all departments. The nominations are then reviewed by the selection committee who look for organizations that contribute to the revitalization of neighborhoods and strengthen communities. Williams, who lives in Many Lakes, nominated the Creston Fire Department. Other Flathead Valley organizations that have received a grant from the Believe in Local initiative in the last five years include the Center for Restorative Youth Justice, North Valley Food Bank, Flathead Food Bank and Whitefish Community Foundation. Mahugh said the department has not yet decided what they will spend the grant on, but as they continue to fundraise for the new fire station, the additional money will be helpful. "We have a lot of investment in the new building," Mahugh said. "Very likely the grant will be for some specialty items in that station." But most importantly, Mahugh said, the grant represents an investment in the Creston community itself, not just the Creston Fire Department. "When people donate money, they're not really giving it to us. They're making an investment. They're partnering with us," he said. "So if they if they ever have to call 911, they expect to see that money returned. They want trained people to help them in an apparatus that functions and are able to take care of the chaos that they're not bale to contain and control. That's where they want that money to come back." Reporter Elsa Ericksen can be reached at 406-758-4459 or [email protected]. If you value local journalism, pledge your support at dailyinterlake.com/support. Sponsored Content See If Your Resort Qualifies

Oil City News, LLC
Jul 17th, 2026
Blessings in a Backpack receives $25,000 donation from First Interstate Bank.

Blessings in a Backpack receives $25,000 donation from First Interstate Bank. GILLETTE, Wyo. - Blessings in a Backpack has received a $25,000 donation from First Interstate Bank and the First Interstate BancSystem Foundation to help provide weekend meals for students in Campbell County. The donation is part of First Interstate Bank's fifth-annual "Believe in Local" grant campaign, which started in 2022 to highlight the bank's support for local communities. Blessings in a Backpack was chosen from more than 640 nominations because of its work helping fight childhood hunger. Many students rely on free and reduced-price meal programs during the school week, but weekends can leave a 65-hour gap where they may not have consistent access to food. More than 1,300 children in Campbell County face food insecurity. Blessings in a Backpack helps close that gap by sending students home with bags of kid-friendly food and snacks each Friday. The program helps make sure students have food over the weekend and are ready to return to school on Monday. The program is run entirely by volunteers and depends on donations. Each week, it serves between 1,000 and 1,300 students. "The grant provides nutritious food for our kids, but it also sends a powerful message that our community cares about them," said Megan Norfolk, program director for Blessings in a Backpack. First Interstate Bank community banker Nikki Pellman nominated the organization for the grant. She said Blessings in a Backpack helps make Gillette a better place. "We are proud to invest in their mission," Pellman said. The "Believe in Local" campaign gives $25,000 grants to 40 nonprofit organizations across First Interstate Bank's service area each year, totaling $1 million in annual giving. The campaign focuses on community needs, including reducing poverty, supporting early childhood education and improving workforce development. First Interstate Bank has nearly 300 offices across 10 states, including Wyoming, Montana, Colorado, Idaho, Iowa, Missouri, Nebraska, Oregon, South Dakota and Washington. Blessings in a Backpack is a nonprofit that provides weekend food assistance to children in Campbell County. More information is available at wyobackpacks.com. First Interstate Bank, based in Billings, Montana, supports nonprofits by donating company profits, matching employee donations and paying employees $10 per hour for volunteer work.

KOTA Radio
Jul 14th, 2026
South Dakota Service Dogs receives $25,000 grant.

South Dakota Service Dogs receives $25,000 grant. South Dakota Service Dogs, a Rapid City-based nonprofit that provides service dogs to veterans and first responders dealing with PTSD and trauma, has received a $25,000 grant from the First Interstate BancSystem Foundation. Founded in 2021, the organization trains and places service dogs at no cost to recipients and provides ongoing support after placement. The grant is part of First Interstate's Believe in Local campaign, which supports nonprofit organizations in communities served by the bank. South Dakota Service Dogs was selected as one of 40 grant recipients from more than 640 nominations. Organization leaders say the funding will help continue their mission of improving the lives of veterans and first responders through specially trained service dogs and long-term support services. Current program. On Air Now 3:00 AM - 4:00 AM America's First News Weather. No data available.

Adams Publishing Group, LLC
Apr 30th, 2026
First Interstate Bank celebrates $100 million in giving at local open houses.

First Interstate Bank celebrates $100 million in giving at local open houses. * Anthony Kutzler First Interstate Bank Communications Specialist * 1 hr ago First Interstate Bank marked a milestone 35 years in the making this week, celebrating $100 million in total philanthropic giving by the bank and the First Interstate BancSystem Foundation at Community Open House events held across every branch on April 21. What began in 1990 with six grants totaling $47,500 has grown into one of the region's most significant community investment platforms, contributing more than $7 million in 2024 alone. Programs span financial literacy, youth development, disaster relief, and nonprofit capacity building. Since 2022, the bank's employee-driven Believe in Local campaign has invested $4 million in grassroots nonprofits. Its Coats & More program has distributed more than 80,400 coats and warm items since 2009, Neighbors Feeding Neighbors has contributed $2.7 million over 15 years, and employees logged more than 60,000 volunteer hours in 2025. "Without strong communities, you can't have a strong bank," said First Interstate President and CEO Jim Reuter. "This milestone is a meaningful moment for us as we lean in to ensure our clients and communities are taken care of."

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