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Regional bank serving Montana, Wyoming and the Northern Rockies/Plains with commercial, agricultural and retail banking.
Regional bank serving Montana, Wyoming and the Northern Rockies/Plains with commercial, agricultural and retail banking.
Earns mostly from the gap between loan interest and deposit costs, with fees from payment services and wealth management as a second line. It takes deposits from towns where competition is thin, and farm and energy cycles in the region affect loan demand. The 2022 purchase of Great Western Bancorp extended it into the Dakotas.
Moat: narrow (scale, distribution). Long-standing dominant branch presence across a sparsely-banked, low-competition region.
Headquarters: Billings, Montana, US · Founded: 1968 · Employees: 3,376
Size First Interstate BancSystem (FIBK) is a United States Financials company (Regional Banks) with a market value of $3.50B, the 1434th largest of 3,117 United States companies the cockpit tracks. Shares closed at $37.80 on 6 Nov 2026.
Performance Over six months the shares gained 3.8%, against +3.3% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 4.2% over the last twelve months (peer median +13.6%); the operating margin is 36.9% (peer median 36.5%).
Valuation It trades at 1.12× book value against a peer median of 1.12× (11th cheapest of 21).
Price implies The share price implies a return on equity of about 9.0%; First Interstate BancSystem delivers 9.5%, so the price asks less than the business earns today.
Credit First Interstate BancSystem has 1 bond outstanding ($125M).
Short interest Short interest is 9.2% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.33B | $1.41B | $1.48B | $1.43B | $1.16B |
| Revenue growth | — | -5% | +4% | +23% | — |
| Net income | $315M | $302M | $226M | $258M | $202M |
| Free cash flow | $261M | $278M | $332M | $400M | $524M |
| Capital expenditure | $25.3M | $27.8M | $23.0M | $28.2M | $10.5M |
| Total debt | $781M | $776M | $2.39B | $3.67B | $3.66B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| First Interstate BancSystem FIBK | $3.50B | +4% | -4% | 10% | 1.12× | 9.0% |
| Glacier Bancorp GBCI | $6.27B | -1% | +21% | 9% | 1.45× | 11.2% |
| U.S. Bancorp USB | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% |
| Banner BANR | $2.55B | +7% | +2% | 10% | 1.20× | 10.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FIBK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.2% | +1.4% | 2nd highest of 21 |
| 6-month return | +3.8% | +3.3% | 11th highest of 21 |
| Return on equity | 9.5% | 8.7% | 9th highest of 21 |
| Price / book | 1.12× | 1.12× | 11th cheapest of 21 |
| Trailing P/E | 11.8× | 11.2× | 9th most expensive of 19 |
| ROE the price implies | 9.0% | 9.0% | 10th least demanding of 20 |
| ROE delivered | 9.5% | 8.8% | 9th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| First Interstate BancSystem FIBK | United States | $3.50B | +4% | -4% | 10% | 1.12× | 9.0% | 9.5% |
| Jiangsu Changshu Rural Commercial Bank 601128.SS | China | $3.48B | -4% | -1% | 14% | 0.67× | 2.5% | 13.8% |
| Nishi-Nippon Financial 7189.T | Japan | $3.47B | +3% | +28% | 8% | 0.88× | 6.9% | 7.8% |
| Yamaguchi Financial 8418.T | Japan | $3.54B | +6% | +19% | 6% | 0.84× | 5.8% | 5.7% |
| Renasant RNST | United States | $3.55B | -2% | +20% | 9% | 0.93× | 9.5% | 8.7% |
| Twenty One Capital XXI | United States | $3.57B | -36% | n/a | -12% | 1.38× | 7.6% | n/a |
| First Financial Bancorp FFBC | United States | $3.43B | +6% | +13% | 11% | 1.19× | 10.9% | 10.7% |
| Mechanics Bancorp MCHB | United States | $3.41B | -1% | +131% | 10% | 1.33× | 14.8% | 10.2% |
| Taichung Commercial Bank 2812.TW | Taiwan | $3.38B | -12% | -13% | 11% | 1.16× | 3.9% | 11.2% |
| TowneBank TOWN | United States | $3.36B | +4% | +36% | 13% | 1.08× | 9.0% | 12.9% |
| WesBanco WSBC | United States | $3.70B | +13% | +17% | 9% | 0.96× | 8.2% | 8.8% |
| Chugin Financial Group,Inc 5832.T | Japan | $3.76B | +10% | +34% | 8% | 0.86× | 6.5% | 8.3% |
| Seacoast Banking Corporation of Florida SBCF | United States | $3.24B | +8% | +29% | 7% | 1.25× | 10.9% | 6.8% |
| EQB EQB.TO | Canada | $3.79B | +3% | -4% | 0% | 1.44× | 12.8% | -0.1% |
| Karur Vysya Bank KARURVYSYA.NS | India | $3.80B | +18% | +14% | 21% | 2.32× | 30.7% | 21.0% |
| Bank of Guiyang 601997.SS | China | $3.20B | -3% | -5% | 7% | 0.32× | 2.0% | 6.9% |
| UCO Bank UCOBANK.NS | India | $3.17B | -13% | +1% | 9% | 0.86× | 13.6% | n/a |
| BancFirst BANF | United States | $3.87B | +2% | -3% | 14% | 1.94× | 12.7% | 13.6% |
| Hirogin 7337.T | Japan | $3.89B | +9% | +26% | 8% | 0.99× | 7.4% | 8.2% |
| Walliser Kantonalbank WKBN.SW | Switzerland | $3.15B | +4% | -12% | 5% | 1.50× | n/a | 5.3% |
| First Bancorp FBP | United States | $3.92B | +8% | +3% | 19% | 2.09× | 15.7% | 19.4% |
First Interstate BancSystem has 1 bond outstanding with $125M face value.