First Interstate BancSystem closes $125M offering of 7.625% subordinated notes due 2035

FIRST INTERSTATE BANCSYSTEM INC

Completed public offering of $125M in 7.625% fixed-to-floating rate subordinated notes due 2035.
Notes initially treated as Tier 2 capital for regulatory purposes.
Interest: 7.625% fixed through June 15, 2030, then floating at 3M Term SOFR + 398 bps quarterly.
Company may redeem notes in whole/part starting June 15, 2030, or upon tax/Tier 2 capital events.
Notes are unsecured, subordinated, and structurally subordinate to liabilities of bank subsidiary.

item 1.01item 2.03item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.