NASDAQ$FIBK
First Interstate BancSystem Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Reported strong first quarter earnings driven by healthy economic activity, deposit inflows, and reductions in problem loan categories.
First Interstate BancSystem, Inc. reported a strong first quarter with net income of $51.4 million, or $0.83 per share, compared to $29.3 million, or $0.45 per share, for the first quarter of 2020. The company saw increases in total deposits and total assets, along with decreases in non-performing assets and criticized loans.
- Total deposits increased by $877.0 million, or 6.2%, to $15,094.0 million as of March 31, 2021.
- Total assets increased by $794.7 million, or 4.5%, to $18,443.4 million as of March 31, 2021.
- Non-performing assets decreased by $6.9 million, or 13.7%, to $43.6 million as of March 31, 2021.
- The Company funded approximately 6,000 loans as part of the Payroll Protection Program, or PPP, for $436.6 million during the first quarter of 2021.
Headline financials
Revenue & EPS history
First Interstate · Revenue · Quarterly
$159M
Revenue by segment
First Interstate · $39.8M total across 6 segments · Q1 2023
- Payment Services$18.7M+26.4%47.0%
- Wealth Management$9M+11.1%22.6%
- Service Charges$5.2M—13.1%
- Other Service Charges$2.4M—6.0%
- Mortgage Banking$2.3M-72.6%5.8%
- Other Income$2.2M—5.5%
Forward guidance
First Interstate BancSystem anticipates stronger loan growth throughout the remainder of 2021, excluding PPP loan runoff, which should lead to higher net interest income and strong financial performance.
Tailwinds
- Expects stronger loan growth as we move through the year.
- Anticipates higher net interest income.
- Projects continued strong financial performance over the remainder of 2021.
- Sees improving loan demand.
- Clients are looking to invest in projects to capitalize on strong economic activity.
Headwinds
- Potential impact of new or changes in governmental regulations.
- Risk of tax legislative initiatives or assessments.
- Exposure to more stringent capital requirements.
- Potential heightened regulatory requirements resulting from total assets exceeding $10 billion.
- Risk of changes in accounting standards.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-1.1%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+1.1%
Avg return
30 days after
42%
27 / 64 earnings
Positive
+8.9%
Q3 2023
Best reaction
-11.8%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | +4.3% | +3.4% | |
| Q4 2025 | -1.5% | +2.6% | -5.6% | |
| Q3 2025 | -1.9% | -1.3% | +2.3% | |
| Q1 2025 | -5.7% | -3.9% | -2.3% | |
| Q3 2024 | -3.2% | -1.7% | +7.6% | |
| Q2 2024 | +2.4% | +0.6% | -2.8% | |
| Q1 2024 | +1.6% | +2.1% | +2.2% | |
| Q4 2023 | -6.4% | -10.2% | -10.5% | |
| Q3 2023 | +8.9% | +7.5% | +17.3% | |
| Q2 2023 | +3.4% | +4.0% | -8.5% | |
| Q1 2023 | -0.5% | -3.8% | -10.9% | |
| Q4 2022 | -11.8% | -5.8% | -5.7% | |
| Q3 2022 | +3.3% | +6.5% | +4.0% | |
| Q2 2022 | +0.5% | +1.3% | +1.1% | |
| Q1 2022 | -2.5% | +6.3% | +14.2% | |
| Q4 2021 | -5.9% | -3.1% | +0.4% | |
| Q3 2021 | -0.4% | -2.6% | +0.6% | |
| Q2 2021 | -2.4% | -0.4% | +4.2% | |
| Q1 2021 | -1.9% | -2.8% | -2.9% | |
| Q4 2020 | -2.8% | -0.1% | +14.1% | |
| Q3 2020 | -1.2% | -4.1% | +10.3% | |
| Q2 2020 | -3.2% | -3.8% | +6.5% | |
| Q1 2020 | -7.5% | -7.8% | -9.2% | |
| Q4 2019 | +1.2% | +0.1% | -11.9% | |
| Q3 2019 | -0.2% | +0.1% | -1.6% | |
| Q2 2019 | +0.3% | -1.4% | -2.9% | |
| Q1 2019 | -1.0% | -0.7% | -9.9% | |
| Q4 2018 | +0.1% | +2.2% | +7.9% | |
| Q3 2018 | -0.2% | -0.3% | +1.3% | |
| Q2 2018 | +0.5% | -0.7% | +6.1% | |
| Q1 2018 | +1.6% | -0.6% | +8.1% | |
| Q4 2017 | +0.1% | -0.2% | -5.3% | |
| Q3 2017 | +1.3% | +0.0% | +4.4% | |
| Q2 2017 | -1.1% | -1.9% | -3.9% | |
| Q1 2017 | +0.9% | -5.7% | -9.7% | |
| Q4 2016 | +0.7% | -1.6% | +5.7% | |
| Q3 2016 | +0.8% | +0.5% | +18.2% | |
| Q2 2016 | +2.0% | +2.0% | +6.1% | |
| Q1 2016 | -2.9% | — | — | |
| Q4 2015 | +2.9% | — | — | |
| Q3 2015 | -4.8% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | -3.8% | — | — | |
| Q3 2014 | +2.2% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | -3.9% | — | — | |
| Q4 2013 | -4.3% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | +3.4% | — | — | |
| Q1 2013 | +1.8% | — | — | |
| Q4 2012 | +4.7% | — | — | |
| Q3 2012 | +2.7% | — | — | |
| Q2 2012 | -1.1% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q3 2010 | -4.5% | — | — | |
| Q3 2011 | -4.5% | — | — | |
| Q2 2010 | -7.6% | — | — | |
| Q4 2010 | -7.6% | — | — | |
| Q2 2011 | -7.6% | — | — | |
| Q1 2010 | -0.1% | — | — |
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