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First Interstate Bancsystem (FIBK)
NASDAQ:FIBK
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.58Last Year’s EPS
$0.59Same Quarter Last Year
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 3.55%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative developments. While there were improvements in net interest margin, noninterest income, and a decrease in criticized and classified loans, there were notable challenges including significant charge-offs in the metro-office portfolio, a decline in loan balances, and increased costs in interest-bearing deposits and noninterest expenses. The transition to a new CEO adds uncertainty but is also seen as a positive development for leadership.Company Guidance
During the First Interstate BancSystem third quarter 2024 earnings call, the company reported a net income of $55.5 million, translating to $0.54 per share. The net interest margin, excluding purchase accounting accretion, rose by 5 basis points to 2.97%, with expectations to exceed 3% in the fourth quarter. Noninterest expenses included one-time CEO transition costs, yet were better than anticipated, and noninterest income increased by approximately 3% excluding a branch sale. Criticized and classified loans declined, although there were significant charge-offs in the metro-office portfolio. The company reported a decline in loan balances by $207.9 million but noted a 1% increase in deposits when excluding a large temporary outflow. Looking ahead to 2025, First Interstate anticipates margin expansion and improved profitability, with the balance sheet remaining neutral in the fourth quarter amid anticipated Fed rate cuts. The common equity Tier 1 capital ratio rose 30 basis points to 11.83%, and a dividend of $0.47 per share was declared for the quarter.Improved Net Interest Margin
The net interest margin, excluding purchase accounting accretion, increased by 5 basis points to 2.97% and is expected to exceed 3% in the fourth quarter.
Noninterest Income Growth
Noninterest income grew by approximately 3% quarter-over-quarter, excluding a $2.6 million gain from a branch sale.
Decrease in Criticized and Classified Loans
Criticized and classified loans both declined during the quarter, indicating improving credit quality.
Stable Deposit Levels
Deposits ended essentially flat, with an increase of approximately 1% when excluding a large temporary deposit outflow.
Capital Ratio Improvement
The common equity Tier 1 capital ratio increased by 30 basis points to 11.83%.
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FIBK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FIBK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $31.52 | $30.48 | -3.30% |
| Jul 25, 2024 | $31.14 | $31.34 | +0.64% |
| Apr 24, 2024 | $25.30 | $25.66 | +1.42% |
| Jan 30, 2024 | $27.29 | $25.73 | -5.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Interstate Bancsystem (FIBK) report earnings?
First Interstate Bancsystem (FIBK) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is First Interstate Bancsystem (FIBK) earnings time?
First Interstate Bancsystem (FIBK) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FIBK EPS forecast?
FIBK EPS forecast for the fiscal quarter 2024 (Q4) is $0.58.
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