First Interstate BancSystem Q1 net income rises 20%

First Interstate BancSystem

29/04/2026 21:49

Overview

U.S. community bank's Q1 net income rose yr/yr but fell from prior quarter

Net interest income and noninterest income both declined from a year earlier

Company repurchased 2.39 mln shares for $84 mln, boosting buyback authorization

Outlook

Company cites strong commercial pipeline and ongoing fixed asset repricing entering Q2 2026

Result Drivers

NET INTEREST INCOME DECLINE - Co said lower net interest income was driven by reduced loan yields and balances, fewer accrual days, and the impact of branch sales

NONINTEREST INCOME DROP - Noninterest income fell sharply from the prior quarter, mainly due to the absence of a large gain from branch sales recorded in Q4 2025

PAYMENT SERVICES REVENUE - Co attributed lower payment services revenue to reduced consumer credit card interchange after outsourcing the business in Q2 2025

Company press release: ID:nBw7BLTpba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.61
Q1 Net Income
$60.20 mln
Q1 Net Interest Income
$200.70 mln
Q1 Credit Loss Provision
-$6.70 mln
Q1 Pretax Profit
$77.50 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for First Interstate Bancsystem Inc is $37.00, about 3.7% above its April 28 closing price of $35.68

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)