Core Viewpoint - Analysts expect First Interstate BancSystem (FIBK) to report quarterly earnings of $0.60 per share, reflecting a year-over-year decline of 14.3% and revenues of $249.9 million, down 2.3% from the previous year [1] Group 1: Earnings and Revenue Estimates - The consensus EPS estimate for the quarter has remained unchanged over the past 30 days, indicating analysts' reassessment of their initial projections [1] - Analysts predict 'Net Interest Income' to be $206.67 million, down from $213.70 million reported in the same quarter last year [3] - The estimate for 'Total noninterest Income' is $43.53 million, compared to $42 million in the same quarter of the previous year [2] Group 2: Key Financial Metrics - The expected 'Net FTE interest margin (non-GAAP)' is 3.0%, down from 3.1% year-over-year [2] - The 'Efficiency Ratio' is projected to reach 62.6%, compared to 61.5% in the previous year [2] Group 3: Stock Performance - FIBK shares have increased by 3.9% over the past month, outperforming the Zacks S&P 500 composite's increase of 2.7% [3] - FIBK holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the overall market performance in the near term [3]

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? First Interstate BancSystem (FIBK) , which belongs to the Zacks Banks - Midwest industry, could be a great candidate to consider. When looking at the last two reports, this holding company for First Interstate Bank has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.50%, on average, in the last two quart ...

First Interstate BancSystem (FIBK) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the syste ...

We Are Today, we put First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the spotlight for the first tinst the first time. This traditional bank holding company has secu some recen Published on TradingView.com, Sep 16, 2024 08:52 UTC-4 First Interstate BancSystem, Inc., 1D, Cboe One 30.20 +1.06 (+3.64%) Vol 344.908 K 32.00 30.20 28.00 26.00 24.00 22.00 @0 idlink on 00 ao dibration 344.908 K one in Doctobild Oct 2024 13 Sep "1"/ TradingView Seeking Alpha Company Overview: This bank holding company has been ar ...

suravikin/iStock via Getty Images In my last article on First interstate BancSystem (NASDAQ:FIBK) I highlighted the stagnant growth of the loan portfolio, which is why the company used to reinvest investment portfolio proceeds into new securities. To date, the strategy has changed, but challenges related to demand for credit remain. In addition, expectations about rate cuts have changed, and management will have to position FIBK so that it can benefit from a lower-than-expected Fed Funds Rate. The dividend ...

Financial Performance - Net income decreased by $7.0 million to $60.0 million, or $0.58 per share, for the three months ended June 30, 2024, compared to $67.0 million, or $0.65 per share, for the same period in 2023[167]. - For the six months ended June 30, 2024, net income decreased by $4.9 million to $118.4 million, or $1.15 per share, compared to $123.3 million, or $1.19 per share, for the same period in 2023[168]. - Net interest income decreased by $16.7 million for the three months ended June 30, 2024, compared to the same period in 2023, primarily due to increased interest expenses from higher costs of interest-bearing liabilities[172]. - Net interest income decreased by $55.5 million for the six months ended June 30, 2024, compared to the same period in 2023, primarily due to increased interest expense from higher costs of interest-bearing deposits[175]. - Total non-interest income decreased by $1.5 million for the three months ended June 30, 2024, compared to the same period in 2023, but increased by $24.2 million for the six months ended June 30, 2024[183]. Interest Rates and Margins - The quarterly yield on interest-earning assets increased to 4.80% as of June 30, 2024, up from 4.74% as of March 31, 2024, and 4.52% as of June 30, 2023[158]. - The Company's cost of funds decreased slightly to 1.86% during the three months ended June 30, 2024, from 1.87% during the three months ended March 31, 2024, and increased from 1.43% during the three months ended June 30, 2023[159]. - The net interest margin increased to 2.97% during the three months ended June 30, 2024, from 2.91% during the three months ended March 31, 2024, but decreased from 3.09% for the three months ended June 30, 2023[159]. - The interest rate spread decreased to 2.38% for the three months ended June 30, 2024, compared to 2.81% for the same period in 2023[174]. - The net FTE interest margin ratio decreased to 2.96% for the three months ended June 30, 2024, down from 3.24% for the same period in 2023[174]. Assets and Liabilities - Total assets decreased by $381.7 million, or 1.2%, to $30,289.5 million as of June 30, 2024, from $30,671.2 million as of December 31, 2023[189]. - Total liabilities decreased by $379.5 million, or 1.4%, to $27,064.2 million as of June 30, 2024, from $27,443.7 million as of December 31, 2023[214]. - Total deposits decreased by $452.4 million, or 1.9%, to $22,870.7 million as of June 30, 2024, from $23,323.1 million as of December 31, 2023[216]. - Long-term debt increased by $262.6 million, or 217.4%, to $383.4 million as of June 30, 2024, from $120.8 million as of December 31, 2023[219]. Credit Quality - The provision for credit losses was $9.0 million for the three months ended June 30, 2024, which included $18.6 million on loans held for investment and a reduction of $9.6 million for unfunded commitments[180]. - Net loan charge-offs for the three months ended June 30, 2024, were $13.5 million, or an annualized 0.30% of average loans outstanding, compared to $11.4 million, or 0.25%, for the same period in 2023[180]. - Non-accrual loans increased by $59.2 million, or 55.6%, to $165.6 million as of June 30, 2024, from $106.4 million as of December 31, 2023[196]. - Non-performing loans totaled $168.2 million as of June 30, 2024, compared to $111.3 million at December 31, 2023, marking a 51% increase[200]. - The allowance for credit losses was $232.8 million, or 1.28% of loans held for investment, as of June 30, 2024, compared to $227.7 million, or 1.25%, at December 31, 2023[209]. Operational Efficiency - Non-interest expense decreased by $7.0 million, or 4.3%, to $156.9 million for the three months ended June 30, 2024, compared to $163.9 million in the same period of 2023[184]. - Salaries and wages decreased by $1.8 million, or 2.6%, to $66.3 million for the three months ended June 30, 2024, compared to $68.1 million in the same period of 2023[184]. - Employee benefits expense decreased by $2.4 million, or 12.4%, to $16.9 million for the three months ended June 30, 2024, compared to $19.3 million in the same period of 2023[185]. Strategic Initiatives - The Company operates 304 banking offices across fourteen states, focusing on community banking and strategic acquisitions[152]. - The Company continues to evaluate bank acquisitions and other strategic opportunities as part of its normal course of business[154]. - The company has completed remediation activities to address previously identified material weaknesses in internal controls over financial reporting[235]. - The effectiveness of the company's disclosure controls and procedures was confirmed by the Chief Executive Officer and Chief Financial Officer as of June 30, 2024[234]. Market and Economic Conditions - Inflation decreased to 3.0% as of June 2024 from a high of 9.1% in June 2022, impacting the Company's operating expenses[157]. - The estimated amount of uninsured deposits was $8.1 billion, or 35.4% of total deposits as of June 30, 2024[217]. - The company expects future provisions for credit losses to be subject to ongoing evaluations of risks in the loan portfolio, indicating potential for material additional provisions if economic conditions decline[211].

First Interstate BancSystem, Inc. (NASDAQ:FIBK) Q2 2024 Earnings Conference Call July 26, 2024 11:00 AM ET Company Participants Andrea Walton – Investor Relations Kevin Riley – Chief Executive Officer Marcy Mutch – Chief Financial Officer Conference Call Participants Andrew Terrell – Stephens Matthew Clark – Piper Sandler Jared Shaw – Barclays Chris McGratty – KBW Timur Braziler – Wells Fargo Operator Good day, and welcome to the First Interstate BancSystem, Inc. Second Quarter Earnings. At this time, all p ...

First Interstate BancSystem The foregoing factors are not necessarily all of the factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. Other unknown or unpredictable factors also could harm our results. Balance Sheet Capital Deposits $22.9 Billion Leverage** 8.44% Premier community banking franchise in growing markets throughout the Midwest and Pacific Northwest Corporate Overview | --- | --- ...

Here is how First Interstate BancSystem performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: First Interstate BancSystem (FIBK) reported $244.3 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 6.9%. EPS of $0.58 for the same period compares to $0.66 a year ago. Net FTE interest margin (non-GAAP): 3% versus 3% estimated by two analysts on average. Efficiency Ratio: 62.7% versus 64.6% estimated b ...

First Interstate BancSystem, which belongs to the Zacks Banks - Midwest industry, posted revenues of $244.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.53%. This compares to year-ago revenues of $262.5 million. The company has topped consensus revenue estimates just once over the last four quarters. While First Interstate BancSystem has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? It will be inte ...