First Interstate Q1 net income $58.4M ($0.57 EPS); dividend $0.47

FIRST INTERSTATE BANCSYSTEM INC

2024-Q1 EPS reported $0.57

Net income $58.4M ($0.57 EPS) vs $61.5M ($0.59) in Q4'23 and $56.3M ($0.54) in Q1'23.
Net interest margin 2.91% (down 8bp from Q4'23); total deposits down $513.1M (seasonal business, run-off of two higher-cost muni accounts).
Non-performing assets up $61.6M, driven by one non-accrual C&I loan; criticized loans down $58.3M.
Non-interest expense down $5.8M vs Q4'23 and $5.6M vs Q1'23.
Dividend $0.47/share payable May 16 to holders of record May 6; yield 6.9% based on Q1 avg closing price.

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 0.95

FIRST INTERSTATE BANCSYSTEM INC reported the first quarter of 2024 results: net income $58.4 million, or $0.57 per share.

Period: the first quarter of 2024
Net income: $58.4 million, or $0.57 per share
Result: reported results

Exact text from the filing

For the quarter, the Company reported net income of $58.4 million, or $0.57 per share, which compares to net income of $61.5 million, or $0.59 per share, for the fourth quarter of 2023 and net income of $56.3 million, or $0.54 per share, for the first quarter of 2023.

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Source: SEC EDGAR

accession 0000860413-24-000059

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