First Interstate Bancsystem Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 31, 2019 at 04:05 am IST
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First Interstate Bancsystem Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net income was USD 40.4 million compared to USD 34.2 million a year ago. Basic earnings per share was USD 0.67 compared to USD 0.61 a year ago. For the full year, net income was USD 160.2 million compared to USD 106.5 million a year ago. Basic earnings per share was USD 2.77 compared to USD 2.07 a year ago. Diluted earnings per share was USD 2.75 compared to USD 2.05 a year ago.
First Interstate BancSystem, Inc. is a financial and bank holding company focused on community banking. Through its bank subsidiary, First Interstate Bank, the Company delivers a range of banking products and services, including online and mobile banking to individuals, businesses, municipalities, and others throughout its market areas. It operates through Community Banking segment, which encompasses commercial and consumer banking services offered to individuals, businesses, municipalities and other entities. Community Banking segment encompasses commercial and consumer banking services provided through its Bank: primarily the acceptance of deposits, the extension of credit, mortgage loan origination and servicing, and wealth management, which includes trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. It provides lending opportunities to clients that participate in a variety of industries.