FIBK

MKT CAP:$4B

First Interstate BancSystem, Inc.

Market Cap

$4B

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$34.86-$0.44 (-1.25%)

Apr 23, 2026

Company Details

First Interstate BancSystem, Inc. operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checkin...

CEO

James A. Reuter

IPO Date

Mar 24, 2010

Website

www.fibk.com

Key Metrics TTM

Revenue

$1.3B

-10.0% YoY

Net Income

$302M

EPS (Diluted)

$2.95

Free Cash Flow

$278M

Revenue / Share

$13.18

Gross Margin

77.4%

Operating Margin

29.4%

Net Margin

22.7%

FCF Margin

20.8%

P/S

2.6x

P/E

11.7x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 26, 2026

$1.1B-28.5%EPS $2.94

Q4 2025

Feb 26, 2026

$313M-16.0%EPS $1.08

Q3 2025

Nov 6, 2025

$336M-10.3%EPS $0.69

Q2 2025

Aug 6, 2025

$339M-7.6%EPS $0.69

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$233M	$166M	-$41M
Q2 22	$296M	$291M	$80M
Q3 22	$310M	$281M	$108M
Q4 22	$346M	$285M	$110M
Q1 23	$332M	$240M	$74M
Q2 23	$361M	$251M	$87M
Q3 23	$365M	$256M	$95M
Q4 23	$369M	$247M	$81M
Q1 24	$367M	$237M	$77M
Q2 24	$367M	$235M	$78M
Q3 24	$374M	$232M	$73M
Q4 24	$373M	$228M	$67M
Q1 25	$345M	$227M	$66M
Q2 25	$339M	$249M	$94M
Q3 25	$336M	$251M	$93M
Q4 25	$313M	$306M	$139M

Valuation

Quarter	P/S	P/E
Q1 22	4.9x	32.9x
Q2 22	4.1x	27.4x
Q3 22	3.5x	21.1x
Q4 22	3.0x	17.5x
Q1 23	2.7x	12.1x
Q2 23	2.6x	12.0x
Q3 23	2.5x	12.5x
Q4 23	2.5x	13.7x
Q1 24	2.4x	13.6x
Q2 24	2.4x	14.0x
Q3 24	2.4x	15.0x
Q4 24	2.4x	15.6x
Q1 25	2.4x	16.2x
Q2 25	2.5x	15.4x
Q3 25	2.5x	14.4x
Q4 25	2.6x	11.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$65M	$55M
Q2 22	$204M	$198M
Q3 22	$169M	$158M
Q4 22	$96M	$113M
Q1 23	$58M	$51M
Q2 23	$172M	$166M
Q3 23	$129M	$123M
Q4 23	$69M	$61M
Q1 24	$88M	$81M
Q2 24	$82M	$80M
Q3 24	$90M	$82M
Q4 24	$95M	$89M
Q1 25	$79M	$74M
Q2 25	$68M	$60M
Q3 25	$92M	$84M
Q4 25	$67M	$59M

Capital Expenditures

Quarter	CapEx
Q1 22	$10M
Q2 22	$6M
Q3 22	$12M
Q4 22	$17M
Q1 23	$7M
Q2 23	$6M
Q3 23	$6M
Q4 23	$9M
Q1 24	$7M
Q2 24	$2M
Q3 24	$8M
Q4 24	$7M
Q1 25	$4M
Q2 25	$8M
Q3 25	$7M
Q4 25	$8M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+42.7%	+180.4%
Q2 22	+86.8%	+108.7%
Q3 22	+81.3%	+83.0%
Q4 22	+111.8%	+143.6%
Q1 23	+42.5%	-6.0%
Q2 23	+22.0%	+27.1%
Q3 23	+17.8%	+33.9%
Q4 23	+6.7%	+22.2%
Q1 24	+10.4%	+12.4%
Q2 24	+1.4%	+5.0%
Q3 24	+2.7%	+11.8%
Q4 24	+1.1%	+6.3%
Q1 25	-5.9%	-3.9%
Q2 25	-7.6%	-15.0%
Q3 25	-10.3%	-19.4%
Q4 25	-16.0%	-43.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	1.0%
Q2 22	$4M	1.3%
Q3 22	$3M	0.8%
Q4 22	$900.0K	0.3%
Q1 23	$2M	0.7%
Q2 23	$3M	0.7%
Q3 23	$4M	1.0%
Q4 23	-$4M	-1.1%
Q1 24	$3M	0.8%
Q2 24	$3M	0.9%
Q3 24	$4M	1.0%
Q4 24	$2M	0.6%
Q1 25	$4M	1.1%
Q2 25	$3M	1.0%
Q3 25	$3M	1.0%
Q4 25	$3M	0.9%

OpEx Breakdown

Quarter	G&A
Q1 22	$85M
Q2 22	$97M
Q3 22	$96M
Q4 22	$97M
Q1 23	$94M
Q2 23	$92M
Q3 23	$90M
Q4 23	$94M
Q1 24	$92M
Q2 24	$90M
Q3 24	$96M
Q4 24	$94M
Q1 25	$93M
Q2 25	$6M
Q3 25	$90M
Q4 25	$113M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.8B	$6.3B	$10.1B
Q2 22	$1.1B	$7.7B	$8.8B
Q3 22	$592M	$6.8B	$7.4B
Q4 22	$870M	$6.9B	$7.8B
Q1 23	$1.1B	$6.0B	$7.1B
Q2 23	$680M	$5.9B	$6.5B
Q3 23	$591M	$5.6B	$6.2B
Q4 23	$578M	$5.8B	$6.4B
Q1 24	$635M	$5.8B	$6.4B
Q2 24	$958M	$5.6B	$6.6B
Q3 24	$699M	$5.5B	$6.2B
Q4 24	$897M	$64M	$960M
Q1 25	$871M	$111M	$983M
Q2 25	$1.1B	$102M	$1.2B
Q3 25	$1.4B	$105M	$1.6B
Q4 25	$358M	$0	$358M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	93M	+50.3%	+50.5%
Q2 22	109M	+17.5%	+76.8%
Q3 22	107M	-2.3%	+72.6%
Q4 22	105M	-1.9%	+69.3%
Q1 23	104M	-0.7%	+11.8%
Q2 23	104M	+0.0%	-4.9%
Q3 23	104M	+0.0%	-2.6%
Q4 23	104M	-0.2%	-0.9%
Q1 24	103M	-0.6%	-0.8%
Q2 24	103M	+0.1%	-0.7%
Q3 24	103M	+0.1%	-0.6%
Q4 24	103M	+0.2%	-0.2%
Q1 25	103M	+0.0%	+0.4%
Q2 25	103M	-0.1%	+0.3%
Q3 25	103M	+0.0%	+0.1%
Q4 25	101M	-2.2%	-2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$98.9K	2K
Q2 22	$125.7K	2K
Q3 22	$131.3K	2K
Q4 22	$91.4K	4K
Q1 23	$87.8K	4K
Q2 23	$95.5K	4K
Q3 23	$96.4K	4K
Q4 23	$102.9K	4K
Q1 24	$102.3K	4K
Q2 24	$102.3K	4K
Q3 24	$104.4K	4K
Q4 24	$107.1K	3K
Q1 25	$99.2K	3K
Q2 25	$97.3K	3K
Q3 25	$96.4K	3K
Q4 25	$92.7K	3K

Revenue / Employee