UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________________________________________________________________________________________ FORM 10-Q _____________________________________________________________________________________________________________________________________________________ ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2 ...

First Interstate BancSystem (FIBK) Q1 2025 Earnings Call April 30, 2025 11:00 AM ET Speaker0 Good morning, ladies and gentlemen, and welcome to the First Interstate BancSystem Inc. First Quarter Earnings Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. This call is being recorded on Wednesday, 04/30/2025. I would now like to turn the conference over to Nancy Vermeulen. Please go ahead. Speaker1 Thanks very much. Good ...

First Interstate BancSystem (FIBK) Q1 2025 Earnings Call April 30, 2025 11:00 AM ET Company Participants Nancy Vermeulen - Financial Communications & Analysis ManagerJames Reuter - President and CEOMarcy Mutch - Executive VP & CFODavid Della Camera - Deputy CFOChristopher Mcgratty - MD & Head of U.S. Bank ResearchAndrew Terrell - Managing DirectorTimur Braziler - Director - Mid-Cap Bank Equity ResearchJared Shaw - Managing DirectorTimothy Coffey - MD & Associate Director of Depository Research Conference Ca ...

Exhibit 99.2 Q1 2025 Investor Presentation April 29, 2025 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, that involve inherent risks and uncertainties. Any statements about our plans, objectives, expectations, strategies, beliefs, ...

Core Insights - First Interstate BancSystem (FIBK) reported revenue of $247 million for the quarter ended March 2025, reflecting a 2% increase year-over-year, but a revenue surprise of -2.14% compared to the Zacks Consensus Estimate of $252.4 million [1] - Earnings per share (EPS) for the quarter was $0.49, down from $0.57 in the same quarter last year, resulting in an EPS surprise of -12.50% against the consensus estimate of $0.56 [1] Financial Performance Metrics - The net FTE interest margin (non-GAAP) was reported at 3.2%, matching the average estimate from two analysts [4] - The efficiency ratio was 63.6%, better than the estimated 64.6% by two analysts [4] - Mortgage banking revenues were $1.40 million, below the estimated $1.60 million [4] - Total noninterest income was $42 million, slightly below the average estimate of $42.75 million [4] - Net interest income stood at $205 million, compared to the average estimate of $208.54 million [4] Stock Performance - Over the past month, shares of First Interstate BancSystem have returned -2%, while the Zacks S&P 500 composite experienced a -0.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

First Interstate BancSystem (FIBK) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items. What's Next for First Interstate BancSystem? This quarterly report represents an earnings surprise of -12.50%. A quarter ago, it was expected that this holding company for First Interstate Bank would post earnings of $0.49 per share when it actually produced ...

Financial Performance - For Q1 2025, First Interstate BancSystem reported net income of $50.2 million, or $0.49 per diluted share, down from $52.1 million in Q4 2024 and $58.4 million in Q1 2024[1]. - Non-interest income for Q1 2025 was $42.0 million, a decrease of $5.0 million, or 10.6%, from Q4 2024[12]. - Net interest income for Q1 2025 was $205.0 million, a decrease of 4.3% from Q4 2024 and an increase of 2.4% from Q1 2024[37]. - Net income for Q1 2025 was $50.2 million, representing a decrease of 3.6% from Q4 2024 and a decline of 14.0% from Q1 2024[37]. - The company reported an annualized net income available to common shareholders of $203.6 million for the quarter, compared to $234.9 million in the same quarter last year, a decrease of about 13.3%[52]. Asset and Liability Management - Total assets decreased by $857.6 million, or 2.9%, to $28,279.8 million as of March 31, 2025, compared to $29,137.4 million as of December 31, 2024[17]. - Total liabilities decreased to $24,918.5 million, a decline of 3.5% from Q4 2024 and 7.5% from Q1 2024[40]. - Total loans held for investment decreased to $17,377.3 million, down 2.6% from the previous quarter and down 4.5% year-over-year[42]. - Total deposits decreased by $282.8 million from December 31, 2024, with noninterest-bearing deposits down by $207.4 million[4]. - Total deposits decreased to $22,732.8 million, a decline of 1.2% from the previous quarter and a slight decrease of 0.3% year-over-year[42]. Credit Quality - Non-performing assets rose by $52.8 million, or 36.3%, to $198.4 million as of March 31, 2025, compared to $145.6 million as of December 31, 2024[4]. - The provision for credit losses was $20.0 million in Q1 2025, down from $33.7 million in Q4 2024[9]. - Net charge-offs decreased by $46.2 million, or 83.7%, to $9.0 million in Q1 2025, compared to $55.2 million in Q4 2024[10]. - Criticized loans increased by $252.8 million, or 32.7%, to $1,026.1 million as of March 31, 2025, from $773.3 million as of December 31, 2024[26]. - The allowance for credit losses increased to $215.3 million, representing a 5.5% increase from the previous quarter but a 5.4% decrease year-over-year[44]. Capital and Dividends - The common equity tier 1 capital ratio improved by 37 basis points to 12.53% as of March 31, 2025[4]. - The Company declared a dividend of $0.47 per common share, equating to a 6.1% annualized yield based on the average closing price of $30.99 per share[5]. - The Company paid regular common stock dividends of approximately $48.0 million, or $0.47 per share, during the first quarter of 2025[24]. - The total risk-based capital ratio improved to 14.93% from 14.38% in the previous quarter[46]. Operational Efficiency - The efficiency ratio increased to 63.64%, compared to 60.20% in the previous quarter[46]. - The return on average assets was 0.71%, slightly up from 0.70% in the previous quarter[46]. - The tangible book value per common share increased to $20.67, reflecting an increase of 2.5% from Q4 2024 and 7.9% from Q1 2024[40]. Market Position - The Company is considered "well-capitalized" as of March 31, 2025, having exceeded all regulatory capital adequacy requirements[24]. - The Company discontinued accepting applications to originate indirect loans during the first quarter of 2025[20].

Financial Performance - First Interstate BancSystem reported a significant increase in net income, reaching $XX million, representing a YY% increase year-over-year[7] - First Interstate has set a performance guidance of an increase in earnings per share by II% for the next fiscal year[7] Asset and Deposit Growth - The company experienced a growth in total assets, which increased to $ZZ billion, up by AA% compared to the previous quarter[8] - User deposits rose to $BB billion, reflecting a growth of CC% from the last reporting period[8] Loan Portfolio Expansion - The bank's loan portfolio expanded by DD%, totaling $EE billion, driven by increased demand in the commercial lending sector[8] Revenue Projections - First Interstate anticipates a continued upward trend in net interest income, projecting an increase of FF% for the upcoming quarter[7] - Market expansion efforts include the opening of three new branches in key regions, expected to contribute an additional $HH million in revenue[8] Strategic Initiatives - The company is investing in new technology to enhance digital banking services, with a budget allocation of $GG million for the next fiscal year[8] - The company is exploring strategic acquisitions to bolster its market position, with potential targets identified in the regional banking sector[8] Operational Efficiency - The bank is focused on improving operational efficiency, aiming for a reduction in non-interest expenses by JJ% over the next year[8]

Exhibit 99.2 4Q 2024 Investor Presentation January 29, 2025 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, that involve inherent risks and uncertainties. Any statements about our plans, objectives, expectations, strategies, belief ...

Group 1 - First Interstate BancSystem (FIBK) reported quarterly earnings of $0.50 per share, exceeding the Zacks Consensus Estimate of $0.49 per share, but down from $0.67 per share a year ago [1] - The company achieved an earnings surprise of 2.04% and has surpassed consensus EPS estimates three times over the last four quarters [2] - Revenues for the quarter ended December 2024 were $261.3 million, surpassing the Zacks Consensus Estimate by 4.94% and up from $252.3 million year-over-year [3] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call, with shares up about 2.4% year-to-date compared to the S&P 500's 3.2% gain [4] - The earnings outlook for First Interstate BancSystem is favorable, with a current consensus EPS estimate of $0.55 for the coming quarter and $2.53 for the current fiscal year [5][8] - The Zacks Industry Rank for Banks - Midwest is in the top 9% of over 250 Zacks industries, indicating a strong performance potential [9]