First Interstate BancSystem, Inc. (FIBK) SEC Filings & Earnings Calls

Deposit outflows continue, though pace slowed; total deposits down 5.4% YoY partly due to branch sales.

“Total deposits decreased $1,216.5 million, or 5.4%, compared to $22,605.0 million as of September 30, 2025” · word for word

Net charge-offs increased significantly YoY from 0.06% to 0.28% annualized, indicating credit quality deterioration.

“Net charge-offs increased $7.6 million from $2.3 million, or an annualized 0.06% of average loans outstanding, as of September 30, 2025”

Geopolitical and trade policy uncertainty

“The Company expects to see continued volatility in the economic markets, which may include recessionary signs in the economy resulting from, among other things, uncertain conditions due to changes in U.S. policies like the implementation of new tariffs, retaliatory tariffs, and other trade policies as well as geopolitical uncertainty, including the recent mi”

Credit quality deterioration from economic slowdown

“The credit quality of the Company's loans may also be impacted if clients must weather adverse economic conditions which could result in an increase in credit losses or other related expenses.” · word for word

Net charge-offs increased to $9.7M (0.27% annualized) from $2.4M (0.06%) prior quarter, indicating credit normalization; non-performing assets up slightly to $165M.

“Net charge-offs $9.7M vs $2.4M LQ; NPAs $165M vs $162.5M LQ”

Total deposits declined $441.7M QoQ due to branch sale, but core deposit trends show improvement; elevated prepayment activity offset production growth.

“Total deposits $21,441.3M vs $21,883M LQ; prepayment activity offset production growth”

No material risk signals; routine board expansion with independent directors.

“No adverse transactions or conflicts beyond a normal-course loan to Ritter's entity.”

Key legal officer departure could create temporary compliance or governance risk.

“The registrant expects to conduct a national search for a replacement for this role, which role is expected to be performed by the registrant’s other in-house lawyers until a successor is appointed.”

Loss of COO could lead to operational inefficiencies during transition.

“The Company’s CEO is expected to fulfill the COO responsibilities previously fulfilled by Ms. Robbins until a successor is appointed.”

Credit Deterioration

“non-performing assets increased approximately 17.5%, primarily due to a single client relationship comprised of commercial and commercial real estate loans.” · word for word

Macroeconomic and Trade Policy Uncertainty

“The Company expects to see continued volatility in the economic markets, which may include recessionary signs in the economy resulting from, among other things, uncertain conditions due to changes in U.S. policies like the implementation of new tariffs, retaliatory tariffs, and other trade policies as well as geopolitical uncertainty.” · word for word

Deposit outflows continue, though moderated; total deposits down 3.7% YoY.

“Total deposits decreased $205.3 million to $21,883.0 million as of March 31, 2026, compared to $22,088.3 million as of December 31, 2025; total deposits decreased $849.8 million, or 3.7% from March 31, 2025.” · word for word

Non-performing assets increased 17.5% QoQ, though down 18.1% YoY.

“Non-performing assets increased $24.2 million, or 17.5%, to $162.5 million as of March 31, 2026, from $138.3 million as of December 31, 2025.” · word for word

Loan portfolio shrinkage

“Loans held for investment decreased $2,643.3 million or 14.8% in 2025 as compared to 2024.” · word for word

Executive compensation clawback risk

“Our clawback policy... provides that the Compensation Committee will cause the Company... to seek to recoup any erroneously awarded incentive-based compensation.”

CRE credit concentration

“Our loans held for investment portfolio are concentrated in commercial real estate and commercial business loans.” · word for word

Interest rate sensitivity

“Changes in interest rates may have an adverse effect on demand for our products and services and on our profitability.” · word for word

Deposit competition from digital assets

“Deposit levels may be affected by... returns available to clients on alternative investments or other cash management, payment, or store-of-value products (including stablecoin or other digital-asset-based products offered by non-bank providers)”

Net charge-offs increased to $22.1M (0.56% annualized) from $2.3M (0.06%) in Q3 2025, though criticized loans decreased.

“Net charge-offs increased $19.8 million to $22.1 million, or an annualized 0.56% of average loans outstanding.” · word for word

Leadership transition risk; potential strategic disruption.

“Departure of CEO/CFO; succession plan not detailed in excerpt.”

Tariff and trade policy uncertainty

“The Company expects to see continued volatility in the economic markets, which may include recessionary signs in the economy resulting from, among other things, uncertain conditions due to changes in U.S. policies like the implementation of new tariffs, retaliatory tariffs, and other trade policies.” · word for word

Multifamily credit quality

“we believe macroeconomic conditions contributed to slower lease-up in our multifamily portfolio, which resulted in an increase in criticized assets during the second quarter of 2025.” · word for word

Non-performing assets increased $6.7M YoY, though criticized loans decreased QoQ.

“Non-performing assets increased $6.7 million, or 3.7%, from $178.9 million as of September 30, 2024.”