FIRST INTERSTATE BANCSYSTEM INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
FIBK$38.00-1.1%Stored close · as of Nov 10, 2026
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Item 1. Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Cash and due from banks | $315.8 | $378.2 |
| Interest bearing deposits in banks | 319.1 | 199.7 |
| Federal funds sold | 0.1 | 0.1 |
| Total cash and cash equivalents | 635.0 | 578.0 |
| Investment securities: | ||
| Available-for-sale, net of allowance for credit losses of $0.0 at March 31, 2024 and December 31, 2023 (amortized cost of $6,266.0 at March 31, 2024 and $6,307.8 at December 31, 2023) | 5,773.3 | 5,841.5 |
| Held-to-maturity, net of allowance for credit losses of $0.7 at March 31, 2024 and $0.8 at December 31, 2023 (estimated fair values of $2,497.8 at March 31, 2024 and $2,874.0 at December 31, 2023) | 2,852.8 | 3,207.9 |
| Total investment securities | 8,626.1 | 9,049.4 |
| FHLB and FRB stock, at cost | 178.4 | 223.2 |
| Loans held for sale | 22.7 | 47.4 |
| Loans held for investment, net of deferred fees and costs | 18,202.8 | 18,279.6 |
| Allowance for credit losses | (227.7) | (227.7) |
| Net loans held for investment | 17,975.1 | 18,051.9 |
| Goodwill | 1,100.9 | 1,100.9 |
| Company-owned life insurance | 504.7 | 502.4 |
| Premises and equipment, net of accumulated depreciation | 439.9 | 444.3 |
| Other intangibles, net of accumulated amortization | 77.7 | 81.4 |
| Accrued interest receivable | 125.5 | 129.1 |
| Mortgage servicing rights, net of accumulated amortization | 27.6 | 28.3 |
| Other real estate owned | 14.4 | 16.5 |
| Deferred tax asset, net | 161.3 | 150.0 |
| Other assets | 255.5 | 268.4 |
| Total assets | $30,144.8 | $30,671.2 |
| Liabilities and Stockholders’ Equity | ||
| Deposits: | ||
| Non-interest bearing | $5,900.3 | $6,029.6 |
| Interest bearing | 16,909.7 | 17,293.5 |
| Total deposits | 22,810.0 | 23,323.1 |
| Securities sold under repurchase agreements | 794.2 | 782.7 |
| Accounts payable and accrued expenses | 386.0 | 380.4 |
| Accrued interest payable | 53.6 | 52.2 |
| Long-term debt | 370.8 | 120.8 |
| Other borrowed funds | 2,342.0 | 2,603.0 |
| Allowance for credit losses on off-balance sheet credit exposures | 15.4 | 18.4 |
| Subordinated debentures held by subsidiary trusts | 163.1 | 163.1 |
| Total liabilities | 26,935.1 | 27,443.7 |
| Stockholders’ equity: | ||
| Preferred stock, no par value; 100,000 shares authorized; none issued and outstanding | — | — |
| Common stock and additional paid-in-capital, $0.00001 par value; 150,000,000 shares authorized; 104,571,623 and 103,941,626 shares were issued and outstanding at March 31, 2024 and December 31, 2023 | 2,450.7 | 2,448.9 |
| Retained earnings | 1,145.9 | 1,135.1 |
| Accumulated other comprehensive loss, net | (386.9) | (356.5) |
| Total stockholders’ equity | 3,209.7 | 3,227.5 |
| Total liabilities and stockholders’ equity | $30,144.8 | $30,671.2 |
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