FIRST INTERSTATE BANCSYSTEM INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
FIBK$38.00-1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| FIRST INTERSTATE BANCSYSTEM, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(In millions) | |||
|---|---|---|---|
| Year Ended December 31, | 2025 | 2024 | 2023 |
| Cash flows from operating activities: | |||
| Net income | $302.1 | $226.0 | $257.5 |
| Adjustments to reconcile net income from operations to net cash provided by operating activities: | |||
| Provision for credit losses | 26.8 | 67.8 | 32.2 |
| Net loss (gain) on disposal of premises and equipment | 8.4 | (2.9) | 0.7 |
| Depreciation and amortization | 50.8 | 57.0 | 53.8 |
| Net (discount) premium amortization on investment securities | (0.2) | 1.1 | 2.4 |
| Net (gain) loss on investment securities transactions | — | — | 23.5 |
| Realized and unrealized net gains on mortgage banking activities | (1.5) | (1.8) | (2.8) |
| Net losses and write-downs of OREO and other assets pending disposal | 0.5 | 3.9 | 1.0 |
| Net gain on extinguishment of debt | (0.1) | — | — |
| Valuation allowance for loans held-for-sale | 6.0 | — | — |
| Deferred taxes | 11.3 | 21.3 | 20.4 |
| Net increase in cash surrender value of company-owned life insurance | (11.1) | (14.7) | (9.7) |
| Stock-based compensation expense | 13.3 | 11.8 | 4.7 |
| Originations of mortgage loans held for sale | (66.7) | (149.6) | (351.5) |
| Proceeds from sales of mortgage loans held for sale | 67.6 | 150.3 | 359.5 |
| Gain on sale of consumer credit card loans | (4.3) | — | — |
| Gain on sale of branches, net | (62.7) | — | — |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in accrued interest receivable | 13.4 | 12.3 | (10.8) |
| Decrease (increase) in other assets | 73.0 | (23.2) | 80.5 |
| (Decrease) increase in accrued interest payable | (9.5) | (5.2) | 37.7 |
| (Decrease) increase in accounts payable and accrued expenses | (111.5) | 0.9 | (71.1) |
| Net cash provided by operating activities | 305.6 | 355.0 | 428.0 |
| Cash flows from investing activities: | |||
| Purchases of investment securities | (1,437.0) | (102.2) | (134.7) |
| Proceeds from sales, maturities, and pay-downs of investment securities: | |||
| Held-to-maturity | 349.7 | 524.7 | 227.3 |
| Available-for-sale | 1,390.1 | 924.2 | 1,390.7 |
| Net sales (purchases) of FHLB and FRB stock | 72.5 | 45.8 | (24.6) |
| Proceeds from company-owned life insurance settlements | 1.1 | 4.1 | 5.2 |
| Proceeds from sales of consumer credit card loans | 81.3 | — | — |
| Net change in loans held for investment | 2,159.9 | 372.3 | (185.8) |
| Proceeds from sale of OREO | 0.9 | 12.9 | 3.5 |
| Net cash distributed in sale of branches | (279.1) | — | — |
| Capital expenditures, net of sales | (27.8) | (23.0) | (28.2) |
| Net cash provided by investing activities | $2,311.6 | $1,758.8 | $1,253.4 |
| FIRST INTERSTATE BANCSYSTEM, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)(In millions) | |||
|---|---|---|---|
| Year Ended December 31, | 2025 | 2024 | 2023 |
| Cash flows from financing activities: | |||
| Net decrease in deposits | $(285.7) | $(307.5) | $(1,750.5) |
| Net decrease in securities sold under repurchase agreements | (44.3) | (258.8) | (270.2) |
| Net (decrease) increase in other borrowed funds | (1,567.5) | (1,285.5) | 276.0 |
| Repayments of long-term debt | (112.6) | (0.2) | (0.1) |
| Proceeds on long-term debt | — | 253.9 | — |
| Payment of debt issuance costs | (2.8) | — | — |
| Proceeds from issuance of subordinated notes | 125.0 | — | — |
| Purchase and retirement of common stock | (121.9) | (1.2) | (34.0) |
| Dividends paid to common stockholders | (194.3) | (195.9) | (195.1) |
| Net cash used in financing activities | (2,204.1) | (1,795.2) | (1,973.9) |
| Net increase (decrease) in cash and cash equivalents | 413.1 | 318.6 | (292.5) |
| Cash and cash equivalents at beginning of period | 896.6 | 578.0 | 870.5 |
| Cash and cash equivalents at end of period | $1,309.7 | $896.6 | $578.0 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the period for income taxes, net(1) | $36.6 | $34.3 | $51.2 |
| Cash paid during the period for interest expense | 362.4 | 475.7 | 363.6 |
| Supplemental disclosures of noncash investing and financing activities: | |||
| Transfer of held-to-maturity to available-for-sale securities | $— | $— | $23.0 |
| Right-of-use assets obtained in exchange for operating lease liabilities | 6.8 | 1.6 | 6.4 |
| Transfer of loans to other real estate owned | 0.5 | 4.6 | 8.3 |
| Transfer of held-for-sale loans to held for investment | — | — | 29.6 |
| Transfer of held for investment loans to held-for-sale | 370.0 | — | 30.4 |
| Transfer of premises and equipment held-for-sale | 19.7 | — | — |
| Capitalization of internally originated mortgage servicing rights | 0.5 | 0.7 | 1.1 |
(1)Cash paid during the period for income taxes, net for 2025 related to the adoption of ASU 2025-09. 2024 and 2023 periods are gross cash paid during the period for income taxes.
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