FIRST INTERSTATE BANCSYSTEM INC

For the period ended Jun 30, 2025. Filed Aug 6, 2025.

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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.

Jun 30, 2025 · Filed Aug 6, 2025

FIBK$38.00-1.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

FIRST INTERSTATE BANCSYSTEM, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)	Six Months Ended June 30,
(Unaudited)	2025	2024
Cash flows from operating activities:
Net income	$121.9	$118.4
Adjustments to reconcile net income from operations to net cash provided by operating activities:
Provision for credit losses	19.7	14.3
Net loss on disposal of premises and equipment	2.5	1.1
Depreciation and amortization	20.0	26.0
Net premium amortization on investment securities	(0.2)	0.7
Realized and unrealized net gains on mortgage banking activities	(1.0)	(1.0)
Net losses and write-downs of OREO and other assets pending disposal	0.5	3.9
Valuation allowance for loans held-for-sale	7.3	—
Deferred taxes	12.0	6.4
Net increase in cash surrender value of company-owned life insurance	(4.0)	(7.3)
Stock-based compensation expense	7.2	6.1
Originations of mortgage loans held for sale	(43.8)	(107.3)
Proceeds from sales of mortgage loans held for sale	41.3	105.4
Gain on sale of consumer credit card loans	(4.3)	—
Changes in operating assets and liabilities:
Decrease in accrued interest receivable	11.1	2.7
Decrease in other assets	57.4	(21.1)
(Decrease) increase in accrued interest payable	(5.7)	18.9
Decrease in accounts payable and accrued expenses	(95.3)	2.7
Net cash provided by operating activities	146.6	169.9
Cash flows from investing activities:
Purchases of investment securities	(78.3)	(77.2)
Proceeds from sales, maturities, and pay-downs of investment securities:
Held-to-maturity	119.7	411.8
Available-for-sale	506.7	288.5
Purchases and sales of FHLB and FRB stock	59.3	40.9
Purchases of company-owned life insurance	0.3	—
Proceeds from company-owned life insurance settlements	—	2.1
Proceeds from sales of consumer credit card loans	81.3	—
Net change in loans held for investment	1,064.6	46.5
Proceeds from sale of OREO	0.7	9.6
Capital expenditures, net of sales	(12.1)	(8.9)
Net cash provided by investing activities	1,742.2	713.3
Cash flows from financing activities:
Net decrease in deposits	(385.0)	(452.4)
Net increase in securities sold under repurchase agreements	(14.6)	(40.9)
Net decrease in other borrowed funds	(1,317.5)	(173.0)
Repayments of long-term debt	(0.1)	(0.1)
Proceeds on long-term debt	125.0	262.6
Payment of debt issuance costs	(2.7)	—
Purchase and retirement of common stock	(3.2)	(1.1)
Dividends paid to common stockholders	(97.1)	(97.8)
Net cash used in financing activities	(1,695.2)	(502.7)
Net (decrease) increase in cash and cash equivalents	193.6	380.5
Cash and cash equivalents at beginning of period	896.6	578.0
Cash and cash equivalents at end of period	$1,090.2	$958.5

FIRST INTERSTATE BANCSYSTEM, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(In millions)	Six Months Ended June 30,
(Unaudited)	2025	2024
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes	$14.8	$12.1
Cash paid during the period for interest expense	194.3	228.0
Supplemental disclosures of noncash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$—	$0.8
Transfer of held for investment loans to held-for-sale	338.6	—
Transfer of loans to other real estate owned	0.2	3.7
Transfer of premises and equipment to held-for-sale	12.6	—
Capitalization of internally originated mortgage servicing rights	0.3	0.3

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