FIBK prices $125M of 7.625% Fixed-to-Floating Subordinated Notes due 2035

FIRST INTERSTATE BANCSYSTEM INC

Aggregate principal $125M, price 100%; interest fixed at 7.625% until June 2030, then floating at SOFR+398 bps.
Net proceeds ~$123.1M; intended to redeem existing 5.25% Subordinated Notes due 2030 on Aug 15, 2025.
Notes qualify as Tier 2 capital for regulatory purposes; sole book-runner is Keefe, Bruyette & Woods.
Expected closing date June 10, 2025, subject to customary conditions.

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