Company data sheet · First Interstate Bancsystem

First Interstate Bancsystem: leaders came and went.

Industry: State Commercial Banks
Ticker: FIBK (Nasdaq)
Sources: SEC filings (1996–2026), Stratrix's verified Decision Cases, market data and official economic statistics
Data as of: November 15, 2026

Leaders came and went. First Interstate Bancsystem filed 49 leadership changes since 2016, more than 98% of large financial companies (the median is 15). The day after each, its shares moved a median 0.4 points against its sector. The news was rarely news.
Profitable every year. First Interstate Bancsystem made money in each of its last ten fiscal years, from $0.1 billion (2016) to $0.3 billion (2025).

Financial results

Fiscal year		Revenue	Net income

As reported in its annual filings. Losses in red.

Has First Interstate Bancsystem had layoffs?

Headcount, as reported

Annual report	Employees	As of
10-K for 2023	3,585	December 31, 2023
10-K for 2024	3,481	December 31, 2024
10-K for 2025	3,376	December 31, 2025

Job cuts, severance and restructuring

Headcount decreased by 198 employees from the prior year-end. Affected: 198 employees
“This represents a decrease of 198 employees from December 31, 2022.” 10-K for 2023
Salaries and wages expense was lower in 2023, partly offset by higher severance costs. 2023
“Salaries and wages expense decreased $19.0 million in 2023 as compared to the same period in 2022, primarily as a result of lower short-term incentives of $31.0 million, which were partially offset by higher salaries and wages of $11.9 million as a result of the full year of combined operations, post-GWB acquisition and higher severance costs.” 10-K for 2023
The company reported a reduction in work force in December 2023 that lowered salaries, wages and net severance costs in 2024 compared with 2023. December 2023
“Salaries and wages expense increased $7.8 million in 2024 as compared to the same period in 2023, primarily as a result of higher short-term incentive accruals in 2024, which were partially offset by lower salaries and wages and net severance costs as a result of the reduction in work force in December 2023.” 10-K for 2024

First Interstate Bancsystem has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.

What has First Interstate Bancsystem acquired?

Deals its annual reports describe

Business	Deal	When	Value
Great Western Bancorp, Inc., the parent company of GWB “During 2022, we acquired Great Western Bancorp, Inc., the parent company of GWB, a Sioux Falls, South Dakota based community bank, for total consideration of $ 1,723.3 million, consisting of the issuance of 46.9 million shares of the Company’s Class A common stock valued at $ 36.76 per share.” 10-K for 2023	acquisition	—	total consideration of $ 1,723.3 million
Great Western Bank ("GWB") “In March 2022, following the completion of our acquisition of Great Western Bank (“GWB”) in February 2022, all outstanding shares of our Class B common stock automatically converted into shares of our Class A common stock on a one-for-one basis.” 10-K for 2024	acquisition	February 2022	—
Twelve Arizona and Kansas branches sold to Enterprise Bank & Trust “On October 10, 2025, the Bank closed the previously disclosed transaction with Enterprise Bank & Trust (“Enterprise Bank”), a wholly-owned subsidiary of Enterprise Financial Services Corp, pursuant to which Enterprise Bank acquired twelve branches from the Bank, including approximately $641.6 million in deposits and certain commercially-oriented loans with outstanding balances of $291.5 million, and the owned real estate and fixed and other assets associated with the branches.” 10-K for 2025	divestiture	On October 10, 2025	—
Eleven Nebraska branches to be sold to Security First Bank “As previously disclosed, on October 16, 2025, the Bank entered into a Purchase and Assumption Agreement with Security First Bank (“Security First”) pursuant to which Security First will acquire eleven Nebraska branches from the Bank.” 10-K for 2025	agreed divestiture	on October 16, 2025	—

Reported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Goodwill from acquisitions
2016-12-31	−$18.6 million	—
2017-12-31	−$91.8 million	$74.9 million
2018-12-31	$28.1 million	$102 million
2019-12-31	$298.4 million	$74.9 million
2020-12-31	$0	$0
2021-12-31	$0	$0
2022-12-31	—	$479.3 million
2023-12-31	—	$0

Deal filings since 2016

2025-06-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-12-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-02-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2021-09-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-05-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-04-08 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2019-04-08 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-10-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-10-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-08-17 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-04-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-05-31 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2017-03-24 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2016-11-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

What are First Interstate Bancsystem's subsidiaries?

Subsidiaries it lists

Subsidiary	Jurisdiction
First Interstate Bank	Montana
FI Statutory Trust I	Connecticut
FI Capital Trust II	Delaware
FI Statutory Trust III	Delaware
FI Capital Trust IV	Delaware
FI Statutory Trust V	Delaware
FI Statutory Trust VI	Delaware
Northwest Bancorporation Capital Trust I	Delaware
Great Western Statutory Trust IV	Connecticut
GWB Capital Trust VI	Delaware
HF Financial Capital Trust V	Delaware
HF Financial Capital Trust VI	Delaware
Sunstate Bancshares Trust II	Delaware

From Exhibit 21 of the 10-K for 2025. Companies must list their significant subsidiaries there and may leave out smaller ones, so this is the company’s own list, not every entity it owns.

Layoffs, acquisitions, competitors and subsidiaries are read from First Interstate Bancsystem’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023), as of 2026-02-26.

The full data sheet · Data Plan

Everything behind these findings, ready for your board deck.

Market reaction to disclosed decisions: 68 decision filings since 2016, each linked to the SEC, with the share return against its sector and the US market the next day and the next year (56 with market data).
Peer comparison: against 505 companies of its size in its sector.
Financial results: ten years of revenue, operating and net income, and every annual report, linked.
Methods and sources, so each number can be checked and cited.

Download the PDF Download the Excel See the Data Plan

The full data sheet downloads with the Data Plan. To see exactly what you get first, open the Boeing sample PDF or Excel.

Tools to try

Ansoff move finderFramework: Ansoff Matrix
Business model canvas builderFramework: Business Model Canvas
Change readiness checkFramework: Kotter's 8-Step Change Model
Five Forces scorerFramework: Porter's Five Forces
SMART goal builderFramework: SMART Goals
SWOT builderFramework: SWOT Analysis