secwatch.observer — SEC 8-K summary
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Issuer:     FIRST INTERSTATE BANCSYSTEM INC (FIBK)
CIK:        0000860413
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000860413-24-000128
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Interstate Q3 net income falls to $55.5M; NIM improves; appoints new CEO
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- Net income of $55.5M ($0.54 per share) in Q3 2024 vs $60.0M ($0.58) in Q2 2024 and $72.7M ($0.70) in Q3 2023.
- Net interest margin rose 4 bps QoQ to 3.01% (3.04% FTE); NII improved for second consecutive quarter.
- Net charge-offs of $27.4M (0.60% avg loans) including $22.1M from metro office portfolio; criticized loans down $14.7M.
- James A. Reuter appointed President and CEO effective November 1, 2024; Kevin P. Riley steps down.
- Dividend of $0.47 per share declared, payable Nov 14, 2024 to holders of record Nov 4, 2024 (6.3% annualized yield).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/860413/000086041324000128/0000860413-24-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/860413/000086041324000128/fibk-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000860413-24-000128

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer