First Interstate BancSystem, Inc. (FIBK)
Fair ValueFundamental
62
Price
$35.74
Market Cap
$3.41B
Part 1 · What the company is worth
Overview
First Interstate BancSystem, Inc. operates as a bank holding company for First Interstate Bank that provides a range of banking products and services in the United States. The company offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services, including administration of estates and personal trusts; manages investment accounts for individuals; employee benefit plans and charitable foundations; and insurance planning. The company's loan portfolio includes real estate loans, such as commercial real estate, construction, residential, agricultural, and other real estate loans; consumer loans, including direct personal loans, credit card loans and lines of credit, and indirect loans; variable and fixed rate commercial loans for small and medium-sized manufacturing, wholesale, retail, and service businesses for working capital needs and business expansions; and agricultural loans. In addition, it offers marketing, credit review, loan servicing, credit cards servicing, mortgage loan sales and servicing, indirect consumer loan and processing, loan collection services, other operational, and specialized staff support services, as well as online and mobile banking services. The company serves individuals, businesses, municipalities, and other entities in various industries, including agriculture, construction, education, governmental services, healthcare, hospitality, housing, professional services, real estate development, retail, technology, tourism, and wholesale trade. First Interstate BancSystem, Inc. was formerly known as First Interstate Bancsystem Of Montana, Inc. and changed its name to First Interstate BancSystem, Inc. in June 1993. The company was founded in 1879 and is headquartered in Billings, Montana.
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Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
A Pacific Northwest regional bank whose commercial and small-business franchise overlaps First Interstate's markets in Oregon, Washington, Idaho, Colorado and Arizona.
The other large Montana-headquartered bank holding company, competing branch-by-branch for the same retail deposits and small-business and commercial real estate loans across Montana, Wyoming, Idaho and the Rocky Mountain states.
Montana's largest family-owned community bank, privately held, going after the same agricultural, small-business and household customers in First Interstate's home state.
A regional bank built on local brands across the Intermountain West that competes for the same commercial and agricultural borrowers and business deposits in Idaho, Wyoming, Colorado, Washington and Arizona.
A smaller Montana community bank competing for the same in-state deposits, residential mortgages and small-business lending in Montana, Wyoming and Idaho.
Balance Sheet & Liquidity
Revenue
$1.07B
Trailing 12 months (through 6/30/2026)
Net Income
$324M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
-
Total Equity
$3.45B
Total Liabilities
$23.19B
Current Ratio
-
Interest Coverage
0.51
Debt/EBITDA
-
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$39.91
Current Price
$35.74
Margin of Safety
+10.4%
Fair Value Range
$37.91 - $41.90
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
11.03
ROE
8.8%
P/B Ratio
1.03
P/FCF
-
Gross Margin
-
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
8.7%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (12)
- EPS shows upward trend
- P/B Ratio 1.03
- Operating Margin 39.0%
- Low reliance on intangibles
- Price below Graham Number
- ROE 9.6%
- Revenue Growth 5Y 22.0%
- Earnings Surprise avg 26.9%
- Earnings Quality (OCF/NI) 0.84
- Share Dilution -0.4%
- Net Margin Trend 30.3% vs 22.8%
- Piotroski F-Score 7/9
Failed (8)
- EPS CAGR 3.92%
- Price CAGR -1.65%
- Debt/Equity ratio
- Interest Coverage
- Return on Tangible Assets
- DCF valuation (Unknown)
- Analyst Consensus 8% Buy
- PEG Ratio 3.47
Unavailable (8)
- ROIC NaN%
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
Piotroski F-Score
Strong financial health
Earnings Quality
Moderate: some gap between profits and cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. James A. Reuter | President, CEO & Director | 60 |
| Mr. David P. Della Camera C.F.A. | Executive VP & CFO | 31 |
| Ms. Lori A. Meyer | Executive VP & Chief Information Officer | 47 |
Audit Risk
4
Board Risk
3
Compensation Risk
1
Shareholder Rights Risk
1
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-03
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-16
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for FIBK, sourced from Markets Gazette.