NASDAQ$FIBK
First Interstate BancSystem Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong financial results driven by franchise and balance sheet strength, despite macroeconomic challenges, with positive trends in deposits, net interest margin stability, lower expenses, improved asset quality, and increased regulatory capital ratios.
First Interstate BancSystem, Inc. reported a net income of $72.7 million, or $0.70 per share, for the third quarter of 2023. Total deposits increased by $100.3 million, and asset quality improved, leading to a decrease in criticized loans. The company's common equity tier 1 capital ratio also increased.
- Net income was $72.7 million, or $0.70 per share.
- Total deposits increased by $100.3 million, or 0.4%, reaching $23,679.5 million.
- Net interest margin decreased to 3.05%.
- Asset quality improved, with an $8.7 million decrease in criticized loans.
Headline financials
Revenue & EPS history
First Interstate · Revenue · Quarterly
$256M
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
The company will remain conservative in new loan production but believes it is a favorable environment to add new commercial and retail customers.
Tailwinds
- Adding new commercial and retail customers
- Financial strength
- Breadth of products and services
- Superior level of service
- Enhance ability to generate long-term profitable growth
Headwinds
- Larger macroeconomic trends
- Challenges for the broader banking industry
- Conservative in our new loan production
- Impact of inflation
- Potential recession
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 Q3 2023
-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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