First Interstate BancSystem
First Interstate BancSystem is a Billings, Montana-based financial holding company operating community bank First Interstate Bank across 10 western and midwestern U.S. states, serving individuals, businesses, and municipalities with deposits, lending, mortgage, wealth, and payment services.
- Company typePublic
- Founded1971
- HeadquartersBillings, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What First Interstate BancSystem does
First Interstate BancSystem, Inc. (NASDAQ: FIBK) is a financial services holding company headquartered in Billings, Montana, and the parent of First Interstate Bank, a community bank operating across 10 states in the western and midwestern United States (Colorado, Idaho, Iowa, Montana, Nebraska, Missouri, Oregon, South Dakota, Washington, and Wyoming). The bank serves individuals and families, small and mid-sized businesses (including agricultural operations), and municipalities with a relationship-banking model emphasizing local decision-making and community presence. Founded in 1968 by Homer Scott, Sr. and incorporated in 1971, the company has grown to $26.4 billion in total assets as of March 31, 2026, generating Q1 2026 revenue of $241.8M and net income of $60.2M.
The product portfolio spans core banking deposits (demand, savings, time), a diversified loan book (commercial real estate, construction, residential, agricultural, consumer, commercial), payment services, mortgage origination and servicing, and wealth management. The operating platform combines physical branches with online and mobile banking channels, supplemented by partner-enabled modules such as Prolific Banking's On-Ramp treasury management onboarding (launched May 2026) and an early-stage pilot on Fiserv's agentOS agentic AI platform for workflow automation. Total assets have contracted year-over-year due to branch divestitures (Arizona/Kansas to Enterprise Financial Services Corp completed October 2025; Nebraska to Security First Bank pending early 2026) and loan portfolio optimization.
Revenue is driven primarily by net interest income (net interest margin reached 3.41% in Q1 2026, the eighth consecutive quarter of sequential improvement), with secondary streams from payment services, wealth management fees, mortgage banking revenues, and deposit account service charges. GTM motion is community-led through physical branches complemented by digital channels. In 2025-2026, the company executed a strategic pivot away from M&A toward organic growth following activist engagement by HoldCo Asset Management, accompanied by leadership transitions (sole Chief Banking Officer appointment, COO termination with CEO temporarily assuming duties), an increased $300M share repurchase authorization, and the outsourcing of its consumer credit card portfolio.
First Interstate BancSystem firmographics
Firmographics- Name
- First Interstate BancSystem
- Legal name
- First Interstate BancSystem, Inc.
- Website
- https://fibk.com
- Company type
- Public
- Founded year
- 1971
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- First Interstate BancSystem is a Billings, Montana-based financial holding company operating community bank First Interstate Bank across 10 western and midwestern U.S. states, serving individuals, businesses, and municipalities with deposits, lending, mortgage, wealth, and payment services.
- Ownership category
- akta.pro rank
Where First Interstate BancSystem is headquartered
LocationHeadquarters
- HQ city
- Billings
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
First Interstate BancSystem business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Net Interest Income: Primary revenue stream from interest earned on loans and investment securities minus interest paid on deposits and borrowings. Net interest margin was 3.41% in Q1 2026, marking the eighth consecutive quarter of sequential margin improvement.
- Payment Services Revenues: Revenue from payment processing services including consumer credit card interchange (though credit card portfolio was outsourced in Q2 2025).
- Wealth Management Revenues: Revenue from wealth management and trust services provided to customers.
- Mortgage Banking Revenues: Revenue from mortgage origination and servicing activities.
- Service Charges on Deposit Accounts: Fees charged on deposit accounts including overdraft fees and account maintenance charges.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
First Interstate BancSystem product offering
Product offeringCore offering
First Interstate BancSystem operates as a financial services holding company running a community bank franchise that provides deposit products, commercial and consumer loans, treasury management, wealth management, and mortgage banking services. It serves consumers, businesses, and municipalities across 10 western U.S. states through a combination of physical branches and digital channels. Revenue is primarily generated from net interest income on lending activities, with additional fee-based income from treasury, wealth, and mortgage services.
Product overview
First Interstate BancSystem operates as a financial services holding company and parent of First Interstate Bank, a community bank delivering a comprehensive range of banking products and services. The product portfolio consists of core banking services including deposit products (demand deposits, savings, time deposits), commercial and consumer loan portfolios (real estate, construction, agricultural, consumer indirect/direct, commercial), payment services, wealth management, and mortgage banking. The bank also partners with third-party providers such as Prolific Banking to offer specialized treasury management onboarding solutions, representing a platform-plus-partner-modules architecture.
Differentiator
Problem solved
Functional benefit
Products and services
- Consumer Deposit Accounts Checking, savings, money market, and certificate of deposit accounts for individual consumers across the bank's 10-state western footprint.
- Commercial Deposit and Treasury Management Business checking, money market, and treasury management services (including cash management, ACH, wires, and remote deposit) for businesses and municipalities.
- Commercial Lending Commercial and industrial loans, commercial real estate loans, agricultural loans, and municipal/public-sector lending for business and government borrowers.
- Consumer Lending Residential mortgage, home equity, consumer installment, and indirect lending products for individual consumers.
- Wealth Management Investment advisory, trust, brokerage, and financial planning services for individuals and businesses.
- Mortgage Banking Residential mortgage loan origination, processing, and secondary market activities for consumer home buyers.
Quantifiable outcome
- Net interest margin expanded to 3.41% in Q1 2026, marking eighth consecutive quarter of sequential improvement
- +1 more outcomes
Companies that use First Interstate BancSystem
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
First Interstate BancSystem technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature1 record
First Interstate BancSystem partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered supporting, core, pending divestiture and completed divestiture.
- Prolific BankingsupportingFirst Interstate Bank launched Prolific Banking's On-Ramp treasury management onboarding solution into production. The solution provides automated enrollment for cash management customers, creating efficiencies and reducing redundant implementation tasks. Tim Schmidt, Director of Treasury Management at First Interstate Bank, noted the solution improved speed to market.
- FiservcoreFirst Interstate Bank is one of two financial institutions already running pilots on Fiserv's agentOS platform, an agentic AI operating system for banking workflows. The bank is co-developing agents with Fiserv and reporting measurable gains including reduced report times and automated loan onboarding. Expected wide release in August 2026.
- Security First Bankpending divestitureSecurity First Bank plans to acquire 11 Nebraska branches from First Interstate Bank. The transaction was expected to close in early 2026 pending regulatory approval, and will expand Security First Bank's Nebraska branches to 34 locations, involving approximately $280 million in deposits and $70 million in loans.
- Enterprise Bank & Trustcompleted divestitureEnterprise Financial Services Corp completed acquisition of 12 branches from First Interstate Bank, adding branches in Arizona and Kansas with approximately $300 million in loans and $645 million in deposits. The acquired branches were fully converted to Enterprise Bank & Trust offices.
Scale indicators6 records
Recent moves10 records
Expansion highlights5 records
First Interstate BancSystem competitors and assessment
Company assessmentDirect peers
- Cullen/Frost Bankers: Texas-headquartered regional bank focused on commercial and consumer banking across multiple states, with comparable asset size and emphasis on relationship-based community banking.
- Western Alliance Bancorporation: Phoenix-based regional bank serving western U.S. markets with overlapping commercial banking footprint and treasury management capabilities.
- Banner Corporation: Pacific Northwest community bank holding company operating across Washington, Oregon, Idaho, and California — overlapping geography and customer mix with First Interstate's footprint.
- Pinnacle Financial Partners: Tennessee-based regional bank with a similar relationship-banking model, mid-sized asset base, and focus on organic growth in mid-sized markets.
- UMB Financial: Midwestern regional bank holding company offering commercial, retail, and treasury management services with similar scale, customer mix, and relationship-banking orientation.
- FB Financial: Tennessee-based regional bank with comparable asset size, community banking focus, and emphasis on commercial lending and treasury management in mid-sized markets.
- Independent Bank Group: Texas-based community bank holding company with comparable asset size, relationship-banking focus, and multi-state commercial banking operations.
- Commerce Bancshares: Midwest-headquartered regional bank with a comparable community-banking approach, similar balance-sheet size, and a long dividend history.
- Glacier Bancorp: Mountain West regional bank holding company headquartered in Kalispell, Montana with a similar community-banking footprint across the same western U.S. states served by First Interstate. Closest direct comparable by size, geography, and operating model.
Broad incumbents
- Bank of Hawaii: Regional bank holding company serving consumer and commercial customers with similar deposit-driven community banking model, though concentrated in Hawaii rather than the mainland U.S.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Interstate BancSystem financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Interstate BancSystem leadership team
Management profileNumber of profiles
Profiles3 records
First Interstate BancSystem subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Interstate BancSystem funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Interstate BancSystem M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Interstate BancSystem
What does First Interstate BancSystem do?
First Interstate BancSystem operates as a financial services holding company running a community bank franchise that provides deposit products, commercial and consumer loans, treasury management, wealth management, and mortgage banking services. It serves consumers, businesses, and municipalities across 10 western U.S. states through a combination of physical branches and digital channels. Revenue is primarily generated from net interest income on lending activities, with additional fee-based income from treasury, wealth, and mortgage services.
Is First Interstate BancSystem a public or private company?
First Interstate BancSystem is a public company. It is classified as public and is currently operating.
When was First Interstate BancSystem founded?
First Interstate BancSystem was founded in 1971. It employs 1,001 to 5,000 people.
Where is First Interstate BancSystem based?
First Interstate BancSystem is headquartered in Billings, United States, in the North America region.
How does First Interstate BancSystem make money?
Five revenue lines are on record. Net Interest Income is the primary driver. The others are payment Services Revenues, wealth Management Revenues, mortgage Banking Revenues and service Charges on Deposit Accounts.
Who are First Interstate BancSystem's main competitors?
Direct peers on record are Cullen/Frost Bankers, Western Alliance Bancorporation, Banner Corporation, Pinnacle Financial Partners, UMB Financial, FB Financial, Independent Bank Group, Commerce Bancshares and Glacier Bancorp. Bank of Hawaii is listed as a broad incumbent.
Does First Interstate BancSystem have an API?
No public API is recorded for First Interstate BancSystem.