First Interstate BancSystem, Inc., incorporated on March 15, 1971, is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment. Its community banking segment provides customers with commercial and consumer banking products and services in its market areas through community service activities. The Company also offers Internet and mobile banking services. In addition to its primary emphasis on commercial and consumer banking services, the Company also offers trust, employee benefit, investment and insurance services through its bank subsidiary. As of December 31, 2016, it operated 80 banking offices, including detached drive-up facilities, in 46 communities located in Montana, Wyoming and South Dakota.
The Bank's centralized operational activities generally support its banking offices in the delivery of products and services to customers and include marketing; credit review; credit cards; mortgage loan sales and servicing; indirect consumer loan purchasing and processing; loan collections, and other operational activities. The Bank offers various other services, which include credit administration, finance, accounting, human resource management, internal audit, technology, risk management, compliance and other support services.
Lending Activities
The Bank's loan portfolio consists of a mix of real estate, consumer, commercial, agricultural and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction (including residential, commercial and land development loans), residential, agricultural and other real estate loans. As of December 31, 2016, the Bank's total loans amounted to $5.48 billion.
Investment Activities
The Bank's investment portfolio principally consists of the United Sates Government agency residential mortgage-backed securities and collateralized mortgage obligations, the United Sates Government agency securities and tax-exempt securities. Federal funds sold and interest-bearing deposits in bank are additional investments that are classified as cash equivalents rather than as investment securities. The Bank's investment securities classified as available-for-sale are recorded at fair value, while investment securities classified as held-to-maturity are recorded at amortized cost. As of December 31, 2016, the Bank's investment securities amounted to $2.124 billion.
Sources of Funds
The Bank offers depository products, including checking, savings and time deposits. The Bank also offers repurchase agreements primarily to commercial and municipal depositors. The Bank's deposits consist of non-interest bearing and interest bearing demand, savings, individual retirement and time deposit accounts. Its main sources of funding include management fees and dividends declared and paid by its subsidiaries and access to capital markets. As of December 31, 2016, the Bank's total deposits amounted to $7.38 billion.
401 No 31st Street
The company trades on NASDAQ exchange. The company headquarter is located in Bilings, Montana. The company was established in the 1971.| Ticker | FIBK |
| Long Name | First Interstate BancSystem, Inc. |
| Short Name | First Interstate BancSystem |