First Interstate Posts $62.2M Third-Quarter Net Income
FIBK sits 26% above its 52-week low of $29.385.
Summary
First Interstate reported third-quarter net income of $62.2M, down from the $83.9M posted in Q2, a figure inflated by a $19.5M gain on a branch sale, so the sequential drop overstates any deterioration in core earnings. Third-quarter EPS came in at $0.65 and the net interest margin rose to 3.53%, though the headline carries no revenue or credit figures, so the quality of the quarter is not yet fully clear. Q2 also showed non-performing loans rising, making credit trends the key item to check in the full release. The bank has been steadily expanding its buyback program through 2026, most recently a $150M increase in July.
At the time of this announcement, FIBK was trading at $36.88 on NASDAQ in the Finance sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $29.39 to $40.60. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.