First Interstate BancSystem

First Interstate BancSystem, Inc.

Type	Public
Traded as	Nasdaq: FIBK (Class A) Russell 2000 Component
Industry	Financial services
Founded	Sheridan, Wyoming, United States (1968)
Headquarters	First Interstate Center Billings, Montana, USA
Number of locations	150
Key people	(Chairman) (President and CEO)
Products	Checking accounts Savings accounts Mortgage loans Commercial loans Insurance Treasury management Investments Consumer finance
Number of employees	2,460 (2021)
Website	firstinterstatebank.com

First Interstate Center in Billings, Montana

First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming.

History[]

First Interstate Bank was established in 1968 when its founder, Homer Scott, Sr. purchased the Bank of Commerce in Sheridan, Wyoming. Scott incorporated the company in Montana in 1971 and over the next 10 years acquired two more banks and established six de novo banks in Montana and Wyoming. ^[1]

In 1984, the company entered into a franchise agreement with First Interstate Bancorp, a multi-state bank holding company headquartered in Los Angeles, California, to use the First Interstate Bank name and logo.

In 1996, Wells Fargo acquired First Interstate Bancorp, but not First Interstate Bank. Instead, the Montana organization successfully negotiated to retain the well-known First Interstate name and logo. In 2017, the company retained the rights to use the First Interstate name and logo in all 50 states.

By the end of 1999, First Interstate had grown to 42 branches through a combination of de novo start-ups and acquisitions.^[2]

In 2008, the Bank expanded into South Dakota by acquiring 18 banking offices pursuant to the purchase of First Western Bank.

The Bank extended into Idaho, Oregon, and Washington with the acquisitions of Cascade Bancorp in 2017 and Northwest Bancorporation, Inc., in 2018—the parent companies of Bank of the Cascades and Inland Northwest Bank, respectively. In 2019, Idaho Independent and Community 1st Banks joined the Company, officially becoming First Interstate Bank in June of that year. ^[3]

As of 2021, First Interstate has 150 branches throughout Idaho, Oregon, Montana, South Dakota, Washington, and Wyoming.

Properties[]

First Interstate Bank is a fifty-percent owner and primary tenant of the First Interstate Center, a 20-story building in Billings, Montana. Completed in 1985 the 272 foot (83 m) structure is the tallest building in the state of Montana.^[4]

References[]

External links[]

• First Interstate Bank home page