Slide 1: Q1 2026 Investor Presentation
Exhibit 99.2 Q1 2026 Investor Presentation April 29, 2026
Slide 2: Cautionary Note Regarding Forward-Looking Statements
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule
Slide 3: First Interstate BancSystem, Inc. Overview
FIRST INTERSTATE BANCSYSTEM, INC. OVERVIEW Premier community banking institution in growing markets throughout the Midwest and Pacific Northwest Corporate Overview Headquarters Billings, MT Exchange/Listing NASDAQ: FIBK Market Capitalization* $3.3 Billion Annualized Dividend Yield** 5.3% Branch Netw
Slide 4: Company Highlights
COMPANY HIGHLIGHTS SN Q Experienced management team, blending new and seasoned FIBK executives with deep financial services expertise “N Serving stable, growing and economically diverse markets with dominant market share across the majority of our markets \ (x) Robust capital and liquidity, strong b
Slide 5: 2026 Goals and Focus Areas
2026 GOALS AND FOCUS AREAS 1. IMPROVE CORE PROFITABILITY • 8 consecutive quarters of net interest margin expansion (+4bps in adjusted Favorable multi-year NII trajectory coupled with operational efficiencies FTE NIM* since the fourth quarter of 2025) ■ Repricing and reinvestment of maturing fixed ra
Slide 6: First Quarter 2026 Highlights
FIRST QUARTER 2026 HIGHLIGHTS • Net income of $60.2 million, or $0.61 per share. • Net interest margin (NIM) of 3.41%, an increase of 5 basis points from the fourth quarter of 2025; NIM on a fully taxable equivalent (FTE) Earnings basis1 of 3.43%, an increase of 5 basis points from the fourth quarte
Slide 7: Earning Asset Yield
EARNING ASSET YIELD • Yields on loans decreased 7 bps compared to the fourth Fixed and Adjustable Rate Loans* quarter of 2025 and increased 1 bp compared to the first Year Maturing or Repricing Balance*** Roll-Off Coupon quarter of 2025 • Through 2027 $2.6 billion of fixed and adjustable rate loans
Slide 8: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Loan Highlights: • Loans decreased $473.2 million during the first quarter of 2026 compared to the fourth quarter of 2025 driven by $58.1 million of continued amortization of the indirect portfolio for which the company stopped originating loans during the first quarter of
Slide 9: Commercial Real Estate and Construction Portfolios
COMMERCIAL REAL ESTATE AND CONSTRUCTION PORTFOLIOS Highlights: Market Type • $8.7 billion portfolio (59% of total loans), well diversified by property type and geography • Non-owner-occupied portfolio of $5.4 billion (36% of total loans) Non-Metro, 88% • $38.9 million of non-accrual loans (0.45% of
Slide 10: Diverse Deposit Base: By Type of Account
DIVERSE DEPOSIT BASE: BY TYPE OF ACCOUNT Deposit Highlights: Mix of C onsumer and Business Deposits* • Total deposits decreased $205.3 million at March 31, 2026 from December 31, 2025, primarily due to decreases in all deposit categories except for savings deposits during the first quarter. Total de
Slide 11: Capital and Liquidity
CAPITAL AND LIQUIDITY Capital and Liquidity Highlights: Liquid and flexible balance sheet with strong capital position • Annualized dividend yield of 5.3% based on an average share price of $35.76 for the first quarter of 2026. • Tangible book value per share (TBVPS)1 decreased during the first quar
Slide 12: Allowance for Credit Losses (ACL)
ALLOWANCE FOR CREDIT LOSSES (ACL) AC L ($MM) and Funded AC L/LHFI R atio ACL Highlights: • Funded ACL increased to 1.33% of loans from 1.26% in the prior quarter. $220.4 $214.4 $212.1 5.1 • Net charge-offs were $2.4 million which represented 6 basis 4.8 $201.6 $215.3 6.3 $197.3 points of average loa
Slide 13: Asset Quality and Reserve Trends
ASSET QUALITY AND RESERVE TRENDS Asset Quality Highlights: Total non-performing loans ($MM) and AC L/NPL R atios • Net charge-offs totaled $2.4 million, or 6 basis points of average loans, during $194.9 $194.1 $182.2 the first quarter of 2026. $155.9 • Total non-performing loans (NPLs) increased by
Slide 14: Net Interest Income
NET INTEREST INCOME Net Interest Income (NII) and Net Interest Margin (NIM) Highlights: FTE NII¹ ($MM) and FTE NIM¹ • $3.1 million of loan purchase accounting accretion (PAA) for the first quarter of 2026, an increase from $2.6 million in the prior quarter. $206.6² $208.6² $208.2² $207.7² $4.2 $3.5
Slide 15: Noninterest Income
NONINTEREST INCOME Noninterest Income by Type ¹ Dollars in millions 1Q25 4Q25 1Q26 Payment Services, 38% Payment services revenues $ 17.1 $ 16.2 $ 15.6 Other Income, 12% Mortgage banking revenues 1.4 1.1 1.3 Wealth management revenues 9.8 10.7 10.5 Service charges on deposit accounts 6.6 6.5 6.5 Oth
Slide 16: Noninterest Expense
NONINTEREST EXPENSE Noninterest Expense ($MM) and Efficiency R atio 166.7 160.6 157.9 157.6 155.1 Dollars in millions 1Q25 4Q25 1Q26 Salaries and wages $ 68.6 $ 74.8 $ 68.5 63.6% 63.8% Employee benefits 20.0 18.5 21.2 61.7% Occupancy and equipment 18.7 19.6 18.6 61.1% Other intangible amortization 3
Slide 17: 2026 Guidance Summary
2026 GUIDANCE SUMMARY* • Anticipate ending deposits between $22.0-$22.5 billion with normal seasonality Balance Sheet • Anticipate ending loans between $14.4-$14.9 billion. Assumes improving production in the second quarter and into the second half of the year, informed by a strong commercial pipeli
Slide 18: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES In addition to results presented in accordance with accounting principles generally accepted in the United States of America, or GAAP, this presentation contains the following non-GAAP financial measures that management uses to evaluate our performance relative to our cap
Slide 19: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 1Q25 2Q25 3Q25 4Q25 1Q26 (Dollars in millions) Total common stockholders' equity (GAAP) (A) $ 3,361.3 $ 3,421.8 $ 3,448.7 $ 3,447.0 $ 3,358.5 Less goodwill and other intangible assets (excluding mortgage servicing rights) 1,192.4 1,188.9 1,185.5 1,182.2 1,178.9 Tangible commo
Slide 20: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 1Q25 2Q25 3Q25 4Q25 1Q26 (Dollars in millions) Net interest income (A) $ 205.0 $ 207.2 $ 206.8 $ 206.4 $ 200.7 FTE adjustments(1) 1.6 1.4 1.4 1.3 1.3 Net interest income on a FTE basis (Non-GAAP) (B) 206.6 208.6 208.2 207.7 202.0 Less purchase accounting accretion on acquired