First Interstate Bank - M&A Summary and Business Overview

Financial ServicesCompany

First Interstate Bank M&A Summary

First Interstate Bank has acquired 16 companies, including 1 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 2 assets.

First Interstate Bank’s largest acquisition to date was in 2021, when it acquired Great Western Bancorp for $2.0B. It’s largest disclosed sale occurred in 2017, when it sold Citizens Bancshares to Investar Holding for $46M. First Interstate Bank has acquired in 8 different US states. The Company’s most targeted sectors include financial services (100%).

First Interstate Bank Business Overview

Where is First Interstate Bank headquartered?

First Interstate Bank is headquartered in Billings, Montana.

What is First Interstate Bank’s revenue?

First Interstate Bank disclosed revenue of 1,026M USD for 2023 and 1,106M USD for 2022.

How many employees does First Interstate Bank have?

First Interstate Bank has 3,783 employees.

What sector is First Interstate Bank in?

First Interstate Bank is a financial services company.

When was First Interstate Bank founded?

First Interstate Bank was founded in 1971.

M&A Summary

  • M&A Total Activity15
    • M&A Buy Activity13
    • M&A Sell Activity2
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 7
  • M&A Advisors 6

First Interstate Bank

First Interstate BancSystem, Inc.

401 North 31st Street,
Billings, Montana 59116
United States,
(406) 255-5311
www.fibk.com

First Interstate Bank is a financial holding company offering a full range of internet, mobile, and other banking and financial services throughout Montana, Wyoming, and South Dakota. First Interstate Bank was founded in 1971 and is based in Billings, Montana.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 12 - 1 - - - 13
vol $680M $2.0B $2.7B
Sell (0.0/yr) # 2 - - - - - 2
vol $86M $86M
  15

Most Recent M&A

Company Date Value Type
Great Western Bancorp, Inc. 2021-09-16 2.0B USD Merger
Sioux Falls, South Dakota · www.greatwesternbank.com
Idaho Independent Bank 2018-10-11 - Add-on Acquisition
Coeur d'Alene, Idaho · www.theidahobank.com
Community 1st Bank 2018-10-11 - Add-on Acquisition
Post Falls, Idaho · www.com1stbankid.com
Northwest Bancorporation, Inc. 2018-04-18 17M USD Add-on Acquisition
Spokane, Washington · www.inb.com
Citizens Bancshares, Inc. 2017-03-08 46M USD Divestiture
Ville Platte, Louisiana
Cascade Bancorp. 2016-11-17 589M USD Add-on Acquisition
Bend, Oregon · www.botc.com
Flathead Bank of Bigfork 2016-04-06 34M USD Add-on Acquisition
Bigfork, Montana · www.flatheadbank.com
Mountain West Financial Corp. 2014-10-02 - Add-on Acquisition
Helena, Montana
i_Tech Corp. 2008-12-16 40M USD Divestiture
Billings, Montana
Silver Run Bancorporation, Inc. 2002-08-27 3M USD Add-on Acquisition
Red Lodge, Montana
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 13 (100%) 2.7B (100%) 2 (100%) 86M (100%)
Total 13 $2.7B 2 $86M

By Geo

State/Country Buy Value Sell Value
United States 13 2.7B 2 86M
  Montana 5 46M 1 40M
  Idaho 2 - - -
  Louisiana 1 8M 1 46M
  Washington 1 17M - -
  Texas 1 - - -
  South Dakota 1 2.0B - -
  Oregon 1 589M - -
  Kansas 1 20M - -
Total 13 $2.7B 2 $86M

Top M&A Advisors

Financial Deals
Sandler O'Neill + Partners LP
3
Barclays Investment Bank
2
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Luse Gorman
5
Holland & Hart
2
Davis Polk & Wardwell
1

Deal Values

buy # Total
> $1B 1 $2.0B
$100M to $1B 1 $589M
< $100M 6 $91M
TOTAL $2.7B
Largest Great Western Bancorp, Inc.
$2.0B (2021-09-16)
sell # Total
< $100M 2 $86M
TOTAL $86M
Largest Citizens Bancshares, Inc.
$46M (2017-03-08)

M&A Connections

Deals
Acquired from
Investor(s)
15%
2 (15%)
Divested to
Strategic(s)
100%
2 (100%)

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