First Interstate BancSystem Full Year 2024 Earnings: EPS Beats Expectations

First Interstate BancSystem (NASDAQ:FIBK) Full Year 2024 Results

Key Financial Results

• Revenue: US$931.9m (down 6.2% from FY 2023).
• Net income: US$226.0m (down 12% from FY 2023).
• Profit margin: 24% (down from 26% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$2.20 (down from US$2.48 in FY 2023).

FIBK Banking Performance Indicators

• Net interest margin (NIM): 3.04% (down from 3.14% in FY 2023).
• Cost-to-income ratio: 62.3% (down from 62.5% in FY 2023).
• Non-performing loans: 0.79% (up from 0.61% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

First Interstate BancSystem EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%.

In the last 12 months, the only revenue segment was Community Banking contributing US$931.9m. The largest operating expense was General & Administrative costs, amounting to US$416.7m (59% of total expenses). Explore how FIBK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for First Interstate BancSystem that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.