FIRST INTERSTATE BANCSYSTEM Business Summary

First Interstate BancSystem Inc. (FIBK) operates as a financial holding company for First Interstate Bank, a community-focused regional lender primarily serving the Western and Midwestern United States. The company generates the vast majority of its revenue—approximately 81%—through net interest income derived from a diversified loan portfolio, where commercial real estate represents the largest segment at 54%. Its secondary revenue stream consists of non-interest income from wealth management, payment services, and deposit service charges. Following a 2025 strategic repositioning, the bank optimized its footprint to 10 contiguous states, exiting non-core markets in Arizona and Kansas to focus on high-density geographies. First Interstate competes directly with regional peers such as Glacier Bancorp, Banner Corporation, and Old National Bancorp, positioning itself as a mid-cap market leader that balances the personalized service of a community bank with the sophisticated wealth management and digital capabilities of a larger institution. Leadership is currently spearheaded by President and CEO James A. Reuter, a 37-year banking veteran who assumed the role in late 2024 after serving as CEO of FirstBank Holding Company of Colorado. The executive team includes EVP and CFO David P. Della Camera, who transitioned to the role in June 2025 with a background in corporate development, and EVP and Chief Information Officer Lori A. Meyer, who has led the firm’s IT infrastructure and enterprise planning since 2023. The company was founded in 1968 by Homer Scott, Sr., and the Scott family maintains significant influence through a stockholder agreement and representation on the board by Jeremy P. Scott. Governance is further strengthened by Board Chair Stephen B. Bowman, the former CFO of Northern Trust. Notable institutional backing remains high, with major positions held by Vanguard, BlackRock, and State Street Corporation.