Banking Business Review  Nov 18  Comment 
First Interstate BancSystem has entered into an agreement to acquire Cascade Bancorp for approximately $589m.
Reuters  Nov 17  Comment 
* First interstate says Cascade shareholders will get 0.14864 shares of First Interstate class a stock, $1.91 in cash in exchange for each share of Cascade


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. [1]

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. [1]

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. [1]

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. [1]


  1. 1.0 1.1 1.2 1.3 First Interstate BancSystem S-1/A
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki