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First Interstate BancSystem Earnings Calls

Q1 2025 (Upcoming)
Release date Apr 29, 2025
EPS estimate $0.560
EPS actual -
Revenue estimate 254.592M
Revenue actual -
Expected change +/- 2.82%
Q4 2024 Beat
$0.500 (2.04%)
Release date Jan 29, 2025
EPS estimate $0.490
EPS actual $0.500
EPS Surprise 2.04%
Revenue estimate 253.496M
Revenue actual 47M
Revenue Surprise -81.46%
Q3 2024 Missed
$0.540 (-6.90%)
Release date Oct 24, 2024
EPS estimate $0.580
EPS actual $0.540
EPS Surprise -6.90%
Revenue estimate 251.242M
Revenue actual 251.9M
Revenue Surprise 0.262%
Q2 2024 Beat
$0.580 (5.45%)
Release date Jul 25, 2024
EPS estimate $0.550
EPS actual $0.580
EPS Surprise 5.45%
Revenue estimate 251.19M
Revenue actual 364.6M
Revenue Surprise 45.15%

Last 4 Quarters for First Interstate BancSystem

Below you can see how FIBK performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.

Q2 2024 Beat
Release date Jul 25, 2024
Fiscal end date Jun 30, 2024
Price on release $32.15
EPS estimate $0.550
EPS actual $0.580
EPS surprise 5.45%
Date Price
Jul 19, 2024 $31.16
Jul 22, 2024 $31.57
Jul 23, 2024 $32.31
Jul 24, 2024 $31.60
Jul 25, 2024 $32.15
Jul 26, 2024 $32.35
Jul 29, 2024 $31.29
Jul 30, 2024 $31.79
Jul 31, 2024 $31.57
4 days before 3.18%
4 days after -1.80%
On release day 0.622%
Change in period 1.32%
Q3 2024 Missed
Release date Oct 24, 2024
Fiscal end date Sep 30, 2024
Price on release $32.01
EPS estimate $0.580
EPS actual $0.540
EPS surprise -6.90%
Date Price
Oct 18, 2024 $32.22
Oct 21, 2024 $31.25
Oct 22, 2024 $31.60
Oct 23, 2024 $31.96
Oct 24, 2024 $32.01
Oct 25, 2024 $30.95
Oct 28, 2024 $31.75
Oct 29, 2024 $31.42
Oct 30, 2024 $31.61
4 days before -0.652%
4 days after -1.25%
On release day -3.31%
Change in period -1.89%
Q4 2024 Beat
Release date Jan 29, 2025
Fiscal end date Dec 31, 2024
Price on release $32.86
EPS estimate $0.490
EPS actual $0.500
EPS surprise 2.04%
Date Price
Jan 23, 2025 $32.62
Jan 24, 2025 $32.59
Jan 27, 2025 $33.30
Jan 28, 2025 $33.24
Jan 29, 2025 $32.86
Jan 30, 2025 $33.50
Jan 31, 2025 $32.95
Feb 03, 2025 $31.75
Feb 04, 2025 $32.44
4 days before 0.736%
4 days after -1.28%
On release day 1.95%
Change in period -0.552%
Q1 2025 (Upcoming)
Release date Apr 29, 2025
Fiscal end date Mar 30, 2025
Price on release -
EPS estimate $0.560
EPS actual -
Date Price
Apr 11, 2025 $24.33
Apr 14, 2025 $24.75
Apr 15, 2025 $25.79
Apr 16, 2025 $26.00
Apr 17, 2025 $25.99

First Interstate BancSystem Earnings Call Transcript Summary of Q4 2024

First Interstate BancSystem Inc. Overall Financial Performance:

  • Net Income: Reported net income was $52.1 million or $0.50 per share, down from $55.5 million or $0.54 per share in the previous quarter.
  • Deposits: Increased by $151.5 million in Q4, thanks to improved deposit campaigns and a focus on low-cost deposits.
  • Loan Balances: Loans declined by $182.2 million primarily across commercial real estate, resulting in a loan-to-deposit ratio of 77.5%.

Interest Margins:

  • Net Interest Margin: Increased to 3.2%, with ongoing asset repricing anticipated in 2025. Excluding purchase accounting, the margin was 3.08%.
  • Expectations: Continued margin expansion expected as the bank benefits from lagging deposit rates relative to interest rate cuts.

Credit Quality:

  • Criticized Assets: Increased, particularly in commercial real estate, with four loans representing 90% of the increase.
  • Provision for Loan Losses: Provision expense of $33.7 million, reflecting charge-offs from non-performing loans.
  • Outlook for Charge-Offs: Anticipate net charge-offs of 20-30 basis points in 2025.

Strategic Focus Going Forward:

  • Shift in Lending Strategy: The company will discontinue originations in indirect lending (affecting about 4% of loan balances) to prioritize relationship banking and organic growth.
  • Organic Growth Emphasis: Management plans to slow M&A activity and focus on improving the deposit base and loan relationships.

Dividend Declaration:

A dividend of $0.47 per share was declared, resulting in a yield of 5.8%.

2025 Guidance:

  • Deposits: Expected growth in low-single digits, with more substantial growth anticipated in the second half of the year.
  • Loan Growth: Modest growth expected, primarily in the latter half, while some decline may occur in the first half due to loan payoffs.
  • Non-Interest Income: Anticipated modest year-over-year increases, driven by treasury management and card products.

Capital Position:

The common equity Tier 1 capital ratio was 12.16% at year-end. Management reassures that capital allocation decisions will focus on maximizing shareholder returns.

Management Outlook:

CEO Jim Reuter emphasized confidence in the bank’s strategic priorities and community-driven approach, highlighting the strength of relationships and potential to unlock value.

Conclusion:

The call conveyed optimism regarding First Interstate BancSystem's strategic shift towards relationship banking, organic growth, and improved credit quality while managing credit risk. Investors should monitor the bank's progress on its initiatives, credit quality metrics, and its ability to maintain margins in a changing interest rate environment.

First Interstate BancSystem Earnings History

Earnings Calendar

FAQ

When is the earnings report for FIBK?
First Interstate BancSystem (FIBK) has scheduled its earnings report for Apr 29, 2025 after the markets close.

What is the FIBK price-to-earnings (P/E) ratio?
FIBK P/E ratio as of Apr 17, 2025 (TTM) is 11.86.

What is the FIBK EPS forecast?
The forecasted EPS (Earnings Per Share) for First Interstate BancSystem (FIBK) for the first fiscal quarter 2025 is $0.560.

What are First Interstate BancSystem's retained earnings?
On its balance sheet, First Interstate BancSystem reported retained earnings of $47.00 million for the latest quarter ending Dec 31, 2024.

What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.

Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.

What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
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ABOUT FIRST INTERSTATE BANCSYSTEM
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 checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors. The company also offers real estate loans comprising commercial real estate, construction, residential...
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