First Interstate BancSystem, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 30, 2024 at 04:21 pm EST
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First Interstate BancSystem, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 207.8 million compared to USD 258.4 million a year ago. Net income was USD 61.5 million compared to USD 85.8 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.82 a year ago.
For the full year, net interest income was USD 878.8 million compared to USD 942.6 million a year ago. Net income was USD 257.5 million compared to USD 202.2 million a year ago. Basic earnings per share from continuing operations was USD 2.48 compared to USD 1.96 a year ago. Diluted earnings per share from continuing operations was USD 2.48 compared to USD 1.96 a year ago.
First Interstate BancSystem, Inc. is a financial and bank holding company focused on community banking. Through its bank subsidiary, First Interstate Bank, the Company delivers a range of banking products and services, including online and mobile banking to individuals, businesses, municipalities, and others throughout its market areas. It operates through Community Banking segment, which encompasses commercial and consumer banking services offered to individuals, businesses, municipalities and other entities. Community Banking segment encompasses commercial and consumer banking services provided through its Bank: primarily the acceptance of deposits, the extension of credit, mortgage loan origination and servicing, and wealth management, which includes trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. It provides lending opportunities to clients that participate in a variety of industries.