First Interstate Q2 net income $67M, EPS $0.65; NIM falls 24 bps; dividend $0.47

FIRST INTERSTATE BANCSYSTEM INC

2023-Q2 EPS reported $1.19

Net income $67.0M ($0.65/sh) vs Q1 $56.3M ($0.54) and Q2 2022 $64.1M ($0.59, incl $0.34 acquisition costs).
Net interest margin (FTE) 3.12%, down 24 bps from Q1; adjusted NIM (ex-purchase accounting) 3.05%, also down 24 bps.
Total deposits decreased 2.2% in Q2, but grew 1.6% in June; no brokered deposits; loans held for investment up 0.4% annualized.
Book value per share $29.72, tangible book $18.12, down from prior quarter; AOCI loss equal to $4.37 of tangible book.
Dividend declared $0.47/share, payable Aug 17, 2023 to holders of record Aug 7, 2023.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.5

FIRST INTERSTATE BANCSYSTEM INC reported the quarter ended June 30, 2023 results: net income $67.0 million, EPS $0.65 per share.

Period: the quarter ended June 30, 2023
Net income: $67.0 million
EPS: $0.65 per share
Result: reported results

Exact text from the filing

On July 26, 2023, First Interstate BancSystem, Inc. (the “Company”) issued a press release regarding its financial results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0000860413-23-000168

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