FIBK · First Interstate BancSystem, Inc.

First Interstate BancSystem reported first quarter 2026 net income of $60.2 million, or $0.61 per diluted share, a decline from $108.8 million ($1.08 per share) in the prior quarter, which included a $62.7 million gain from the sale of Arizona and Kansas branches. Compared to the same quarter last year, net income increased from $50.2 million ($0.49 per share). Net interest income decreased $5.7 million sequentially to $200.7 million, driven by lower loan yields and balances and fewer accrual days, partially offset by higher investment balances and yields and lower deposit costs. Net interest margin expanded 5 basis points to 3.41%, reflecting continued improvement. The provision for credit losses was $6.7 million, down from $7.1 million in Q4 2025 and $20.0 million in Q1 2025, as net charge-offs fell to $2.4 million (0.06% annualized) from $22.1 million (0.56%) in the prior quarter. Noninterest income dropped $65.5 million sequentially due to the absence of the branch sale gain, while noninterest expense decreased $9.1 million to $157.6 million, primarily from lower salary and wage accruals. The company repurchased 2.39 million shares for $84.0 million during the quarter, and the board declared a $0.47 per share dividend payable May 21, 2026. Management expressed confidence in continued earnings improvement, citing a strong commercial pipeline and fixed asset repricing. The company also posted an updated corporate presentation (Exhibit 99.2) on its website.