First Interstate Bancsystem Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net interest income of $100,836,000 compared to $73,601,000 a year ago. Income before taxes was $49,430,000 compared to $37,755,000 a year ago. Net income was $4,268,000 or $0.61 per diluted share compared to $24,765,000 or $0.55 per diluted share a year ago. Book value per share for the period end was $25.28 compared to $12.87 a year ago. Non-GAAP tangible book value per share for the period end was $16.04 compared to $16.92 a year ago. Return on average assets was 1.11% compared to 1.09% a year ago. Return on average common equity was 9.52% compared to 9.95% a year ago. Non-GAAP return on average tangible common equity was 15.04% compared to 12.84% a year ago. Net interest income was positively impacted this quarter by the recovery of previously charged-off interest of $1.4 million, compared to $2.0 million during the third quarter of 2017 and $0.2 million during the fourth quarter of 2016.

For the year, the company reported net interest income of was $349,843,000 compared to $279,765,000 a year ago. Income before taxes was $156,722,000 compared to $145,259,000 a year ago. Net income was $106,521,000 or $2.05 per diluted share compared to $95,636,000 or $2.13 per diluted share a year ago. Return on average assets was 0.98% compared to 1.10% a year ago. Return on average common equity was 8.57% compared to 9.93% a year ago. Non-GAAP return on average tangible common equity was 12.76% compared to 12.81% a year ago.

For the fourth quarter ended December 31, 2017, the company reported net charge-offs of $5,950,000 against $6,099,000 a year ago.