earnings
confidence high
sentiment positive
materiality 0.75
First Interstate Q2 net income $60.0M ($0.58 EPS); NIM expands to 2.97%
FIRST INTERSTATE BANCSYSTEM INC
2024-Q2 EPS reported
$1.15
- Net income $60.0M vs $58.4M Q1 2024 and $67.0M Q2 2023; diluted EPS $0.58.
- Net interest margin improved 6 bps to 2.97% (FTE 3.00%); loans held for investment up $32.2M.
- Non-performing assets decreased $14.5M; criticized loans down $12.0M from Q1.
- Total deposits grew $60.7M; non-interest expense declined $3.3M sequentially.
- Board declared $0.47 dividend payable Aug. 15, 2024 (7.1% annualized yield on Q2 avg price).