First Interstate BancSystem (FIBK) (NASDAQ:FIBK) is a bank holding company that operates in Montana, Wyoming, and South Dakota. As of 31 December 2009, the company had assets of $7.1 billion, including $5.8 billion in deposits and $4.5 billion in loans. The company receives interest income from it loans and expenses interest from its deposits. 
The company faces risks from the fluctuating states of the economy. Since a rise in unemployment increases the risk of default on loans, banks are at risk of its customers defaulting on the loans. Furthermore, the devaluation of real estate increases the risk of customers defaulting on its mortgage. Yet, First Interstate BancSystem operates in stable environments, due to the fact its locations are in Montana, Wyoming, and South Dakota. These states were more or less not critically affected by the economic recession. 
The company's initial public offering of stock on the NASDAQ exchange was on 23 March 2010, and it priced at $14.50, within the $14.00-$16.00 range. The company offered 10 million shares and raised $145 million. 
For the FY2009 ending 31 December 2009, the company reported net interest income of $243 million, up 3.4% from $235 million of net interest income in FY2008. Furthermore, the company had $53.8 million in net income for FY2009, down 23.8% from $70.6 million in net income for FY2008.