---
schema_version: "secwatch.filing_event.v1"
accession: "0000860413-25-000003"
form_type: "8-K"
ticker: "FIBK"
cik: "0000860413"
company_name: "FIRST INTERSTATE BANCSYSTEM INC"
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T05:59:57.832766+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Interstate expects $49.3M partial charge-off on C&I loan; offset by $22.2M ag loan payoff

## Summary
- Partial charge-off of ~$49.3M on a single C&I loan with $62.8M outstanding; $26.5M specific reserve held at Sept 30, 2024.
- Borrower failed to perform under forbearance; receiver appointed Jan 6; asset sale expected to close Jan 2025.
- Expected proceeds from sale ~$13.5M, leaving $13.5M remaining exposure on the loan.
- Offset by payoff of $22.2M non-performing agricultural loan in Q4 2024 with no loss expected.
- Company anticipates non-performing loans to decline in Q4 2024 despite the charge-off.

## SEC filing metadata
- accession: 0000860413-25-000003
- form_type: 8-K
- ticker: FIBK
- cik: 0000860413
- company_name: FIRST INTERSTATE BANCSYSTEM INC
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/860413/000086041325000003/0000860413-25-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/860413/000086041325000003/fibk-20250103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000860413-25-000003
- JSON: https://secwatch.observer/filing/0000860413-25-000003.json
- Plain text: https://secwatch.observer/filing/0000860413-25-000003.txt

## Key facts
- Restructurings & Charges
  FIRST INTERSTATE BANCSYSTEM INC announced a impairment with charges of approximately $49.3 million affecting single commercial and industrial loan relationship.
  - Type: impairment
  - Charge: approximately $49.3 million
  - Affected area: single commercial and industrial loan relationship
  source text: management of First Interstate BancSystem, Inc. (the “Company”) and its wholly owned subsidiary First Interstate Bank (the “Bank”) determined that the Company expects to recognize a material, partial charge-off of approximately $49.3 million for the quarter ended December 31, 2024 related to a single commercial and industrial loan relationship
  evidence_url: https://www.sec.gov/Archives/edgar/data/860413/000086041325000003/0000860413-25-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.