First Interstate Bank
Billings, Montana, Yellowstone County
$25.8B in total assets, the 86th largest of 4,309 US banks and 2nd of 35 headquartered in Montana.
- FDIC certificate
- 1105
- Established
- 1916
- Owned by
- First Intrst Bancsystem
- Primary regulator
- FED
- Website
- www.firstinterstatebank.com
At a glance
Compared with 132 US banks with $10 billion to $100 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $25.8B | 60% | $22.4B | |
| Loans | $14.3B | 48% | $14.5B | |
| Deposits | $21.7B | 61% | $18.0B | |
| Return on assets | 1.33% | 57% | 1.29% | |
| Net interest margin | 3.55% | 44% | 3.62% | |
| Efficiency ratio | 58.4% | 67% | 55.1% | |
| Equity to assets | 12.60% | 70% | 11.57% | |
| Loans to deposits | 66% | 12% | 87% |
Growth
Total assets grew 6.4% a year over the last 5 years and 11.6% a year over 10 years, including 6 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Feb 2022 | Great Western Bank Sioux Falls, SD | $13.3B |
| Apr 2019 | Idaho Independent Bank Coeur D Alene, ID | $728M |
| Apr 2019 | Community 1st Bank Post Falls, ID | $125M |
| Nov 2018 | Inland Northwest Bank Spokane, WA, an affiliate under the same holding company | $923M |
| Aug 2017 | Bank of the Cascades Bend, OR, an affiliate under the same holding company | $3.3B |
| Aug 2016 | Flathead Bank of Bigfork, Montana Bigfork, MT | $222M |
| Jul 2015 | United Bank Absarokee, MT | $74M |
| Oct 2014 | Mountain West Bank, National Association Helena, MT, an affiliate under the same holding company | $616M |
| Sep 2009 | First Western Bank Wall, SD, an affiliate under the same holding company | $572M |
| Sep 2009 | The First Western Bank Sturgis Sturgis, SD, an affiliate under the same holding company | $520M |
| Jan 2003 | The United States National Bank of Red Lodge Red Lodge, MT | $52M |
| Nov 2001 | First Interstate Bank Sheridan, WY, an affiliate under the same holding company | $1.3B |
| Sep 1999 | Security State Bank and Trust Company Polson, MT | $63M |
| Dec 1997 | First Interstate Bank, FSB Hamilton, MT, an affiliate under the same holding company | $5M |
| Jun 1997 | First Interstate Bank of Montana, National Association Kalispell, MT | $284M |
| Jun 1997 | Mountain Bank Whitefish, MT | $70M |
| Sep 1995 | The First National Park Bank in Livingston Livingston, MT, an affiliate under the same holding company | $59M |
| May 1995 | First Citizens Bank of Bozeman Bozeman, MT, an affiliate under the same holding company | $46M |
| Dec 1992 | First Interstate Bank of Missoula, National Association Missoula, MT, an affiliate under the same holding company | $205M |
| Dec 1992 | First Interstate Bank of Hardin Hardin, MT, an affiliate under the same holding company | $46M |
| Dec 1992 | First Interstate Bank of Miles City Miles City, MT, an affiliate under the same holding company | $39M |
| Dec 1992 | First Interstate Bank of Colstrip Colstrip, MT, an affiliate under the same holding company | $12M |
| Dec 1992 | First Interstate Bank of West Billings Billings, MT, an affiliate under the same holding company | $47M |
| Dec 1992 | First Interstate Bank of Billings Heights Billings, MT, an affiliate under the same holding company | $35M |
| Dec 1992 | First Interstate Bank of South Missoula, National Association Missoula, MT | n/a |
Where they operate
274 branches in 138 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Yellowstone County, MT | $1.8B | 24.6% | 1 of 12 |
| Deschutes County, OR | $1.1B | 22.5% | 1 of 10 |
| Minnehaha County, SD | $955M | 0.2% | 6 of 26 |
| Missoula County, MT | $825M | 20.9% | 2 of 11 |
| Ada County, ID | $803M | 5.0% | 8 of 23 |
| Gallatin County, MT | $690M | 13.2% | 3 of 16 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 193 branches since 2016 (81 to 274, +238.3%). 13 opened, 244 acquired, 64 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 81 | |||
| 2016 | Acquired Flathead Bank of Bigfork, MontanaClosed 6 in 2 states | 6 | 6 | 0 | 81 |
| 2017 | Acquired Bank of the CascadesOpened Bend, closed Laramie | 48 | 1 | +47 | 128 |
| 2018 | Acquired Inland Northwest Bank | 19 | 0 | +19 | 147 |
| 2019 | Acquired Idaho Independent Bank and Community 1st BankOpened Medford, closed 6 in 2 states | 12 | 6 | +6 | 153 |
| 2020 | Opened Boise and SeattleClosed 5 in 4 states | 2 | 5 | −3 | 150 |
| 2021 | Opened Helena and PortlandClosed Helena and Missoula | 2 | 2 | 0 | 150 |
| 2022 | Acquired Great Western BankOpened 3 in 2 states, closed 4 in 2 states | 164 | 4 | +160 | 310 |
| 2023 | Opened FargoClosed 6 in 5 states | 1 | 6 | −5 | 305 |
| 2024 | Opened NogalesClosed 4 in 4 states | 1 | 4 | −3 | 302 |
| 2025 | Sold 1 branch to D. L. Evans BankOpened Columbia Falls | 1 | 1 | 0 | 302 |
| 2026 through Q2 | Sold 12 branches to Enterprise Bank & TrustSold 10 branches to Security First Bank, opened Billings, closed 7 in 3 states | 1 | 29 | −28 | 274 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 43% | 25% | |
| 1-4 family residential | 18% | 21% | |
| Multifamily | 13% | 8% | |
| Business (C&I) | 10% | 17% | |
| Farmland | 4% | 1% | |
| Construction and land | 4% | 6% | |
| Consumer | 3% | 10% | |
| Agricultural | 3% | 0% | |
| Other | 3% | 13% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 64% | 62% | |
| Noninterest-bearing | 26% | 20% | |
| Time deposits | 10% | 18% |
Brokered deposits are 0.0% of deposits (peers 7.3%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.06% | 0.63% |
| Net charge-offs, annualized | 0.16% | 0.14% |
| Reserves to loans | 1.28% | 1.14% |
| Leverage ratio | 9.42% | 10.26% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Montana
Largest competitors in Yellowstone County, MT
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/first-interstate