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Dec 31, 2020
First Interstate Q4 2020 Earnings Report
Reported strong fourth-quarter earnings driven by economic strength and strategic investments.
Key Takeaways
First Interstate BancSystem reported a net income of $46.9 million, or $0.76 per share, for the fourth quarter of 2020. The company saw increases in net interest income and total assets, along with organic loan growth and deposit growth. The quarterly cash dividend increased by 7.9% from the fourth quarter of 2019.
Net interest income increased by 4.4% to $128.4 million.
Total assets increased by 3.4% during the quarter.
Organic loan growth was 0.9%, excluding PPP loans.
Non-performing assets decreased by 16.0%.
First Interstate
First Interstate
First Interstate Revenue by Segment
Revenue by Segment
Payment Services Revenue
CapyFin.comWealth Management Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.comService Charges Revenue
CapyFin.comOther Service Charges Revenue
CapyFin.com Forward Guidance
First Interstate BancSystem is well-positioned to capitalize on growth in its markets and plans to continue its strategy of organic growth supplemented with accretive transactions. The company is confident in its ability to drive earnings, return capital to shareholders, and enhance franchise value.
Positive Outlook
- The investments we have made in personnel, technology, and process improvements over the past several years have created a strong platform for generating organic growth
- Continue supplementing with accretive transactions that expand our presence in higher growth markets.
- Continue to execute well on our growth strategies
- Continue to drive a higher level of earnings
- Continue to return more capital to shareholders
Challenges Ahead
- New, or changes in, governmental regulations
- More stringent capital requirements, to the extent they may become applicable to us
- Heightened regulatory requirements resulting from our total assets exceeding $10 billion
- Changes in accounting standards
- Any failure to comply with fair lending and other laws and regulations