First Interstate Bancsystem, Inc. · NASDAQ:FIBK
First Interstate Bancsystem — Shareholder Meeting (May 2019)
21 slides from First Interstate Bancsystem's shareholder meeting presentation, May 3, 2019
Slide 1: Annual Shareholders' Meeting May 2, 2019
Annual Shareholders’ Meeting May 2, 2019
Slide 2: Safe Harbor
Safe Harbor 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 3b-6 promulgated thereunder, that involve
Slide 3: Vision, Mission and Values
Employer of Choice Vision Mission Values Best In Class Relationship Management To be the premier To continuously strengthen our • We put people first financial service relationships with employees, • We strive for excellence provider within the clients, and communities while • We act with integrity
Slide 4: FIBK at a glance
FIBK at a glance OVERVIEW DESCRIPTION Headquarters Billings, MT • Headquartered in Billings, MT and focused on regional community banking in Idaho, Montana, Oregon, South Dakota, Washington, and Kroll Rating BBB+ Wyoming: Market Cap $2.36 Billion • Over 145 banking offices • 238 ATMs, plus 24,000 Mo
Slide 5: Building the First Interstate Franchise
Building the First Interstate Franchise 2018 Inland Northwest Bank, filling in Closed April 2019 footprint in the PNW $826.8 million 20 Branches Idaho Independent Bank $725 million 11 Branches 2016 Community 1st Bank Flathead Bank of Bigfork $130 million 3 Branches $225 million 7 Branches FIBK IIBK
Slide 6: 2018 Financial Overview
2018 Financial Overview Page 6
Slide 7: Strong Deposit Base
Strong Deposit Base $10.68 Billion in Deposits CDs > $100k 5% Time Other 7% Demand Non-Interest Bearing 30% Savings 30% Demand Interest Bearing 28% Low Cost of Funds: 43 basis points Page 7 As of December 31, 2018
Slide 8: Balance of Consumer and Business Deposits
Balance of Consumer and Business Deposits (In Billions) $12 47% $10 47% $8 47% 48% 49% 49% 49% $6 53% 53% $4 53% 52% 51% 51% 51% $2 $0 2012 2013 2014 2015 2016 2017 2018 Total Consumer Deposits Total Business Deposits Page 8
Slide 9: Market Share
Market Share MARKET MARKET ALLOCATION OF DEPOSITS LOCATION SHARE* LOCATION SHARE* JUNE 2018 JUNE 2018 Laramie, WY 48% Bozeman, MT 16% Washington 5% Riverton, WY 43% Kalispell, MT 15% Idaho 6% Sheridan, WY 40% Jackson, WY 14% South Dakota Missoula, MT 32% Cheyenne, WY 12% 8% Casper, WY 30% Nampa, ID
Slide 10: Asset and Net Income Growth
Asset and Net Income Growth Net Income Growth Asset Growth (based on reported earnings including non-core items) (in millions) $250 $14,000 CAGR – 19.1% CAGR – 21.9% CAGR – 11.6% $12,000 $200 $10,000 $150 $8,000 $100 $6,000 $4,000 $50 $2,000 $0 Net Income before Tax Net Income before Tax and $0 Prov
Slide 11: Loan and Deposit Growth
Loan and Deposit Growth LOANS DEPOSITS $9,000,000 6.00% $12,000,000 Organic CAGR (9YR) = 1.61% Organic CAGR (9YR) = 1.13% Organic CAGR (5YR) = 3.80% Organic CAGR (5YR) = 0.99% $8,000,000 $10,500,000 5.00% $7,000,000 $9,000,000 $6,000,000 4.00% $7,500,000 $5,000,000 3.00% $6,000,000 $4,000,000 $4,500
Slide 12: Improving Asset Quality
Improving Asset Quality NON-PERFORMING ASSETS TO TOTAL ASSETS 1.20% 0.96% 0.98% 1.00% 0.80% 0.80% 0.74% 0.74% 0.68% 0.63% 0.63% 0.60% 0.55% 0.40% 0.20% 0.00% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2017 2017 2017 2018 2018 2018 2018 NON-PERFORMING LOANS TO TOTAL LOANS NON-PERFORMING ASSETS TO TOTAL LOA
Slide 13: FIBK — Performance to Peers
FIBK — Performance to Peers Percentile Ranking to Peer Group* 100.00% 90.00% 90.00% 85.60% 80.00% 70.10% 71.10% 69.60% 69.50% 69.40% 70.00% 65.80% 63.20% 59.80% 60.00% 51.80% 53.90% 50.00% 43.90% 42.00% 40.00% 30.00% 20.80% 20.00% 10.00% 5.30% 0.00% *2018 FY Percentile rank based on 2018 proxy peer
Slide 14: Shareholder Metrics
Shareholder Metrics IPO through 4/22/19 Page 14
Slide 15: We are Delivering Results
We are Delivering Results Since the IPO in March 2010, FIBK has delivered a 270% total return to shareholders FIBK: TOTAL RETURN (03/23/2010 THROUGH 04/22/2019) 350 300 270.33 % 250 200 150 Percent (%) Percent 100 50 0 -50 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Sep-12 Sep-15
Slide 16: FIBK Shareholder Return vs. Indices
FIBK Shareholder Return vs. Indices FIBK: TOTAL RETURN (03/23/2010 THROUGH 04/22/2019) 350 300 270.33 % 250 200 199.05 % 150 128.81 % 100 Percent (%) Percent 50 0 -50 -100 Jun-13 Jun-18 Jun-10 Jun-11 Jun-12 Jun-14 Jun-15 Jun-16 Jun-17 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Ma
Slide 17: FIBK Price Return vs. Peers
FIBK Price Return vs. Peers FIBK VERSUS PEER GROUP* (03/23/10 Through 04/22/19) 250.00% 225.00% 186% 200.00% FIBK PEER GROUP 175.00% 150.00% 125.00% 100.00% 93% 75.00% 50.00% 25.00% 0.00% -25.00% -50.00% 3/23/2012 3/23/2010 9/23/2010 3/23/2011 9/23/2011 9/23/2012 3/23/2013 9/23/2013 3/23/2014 9/23/2
Slide 18: Growing Dividend
Growing Dividend Dividends $1.40 1.24 The Company has consistently $1.20 1.12 paid quarterly dividends for over $1.00 0.96 25 years. 0.88 $0.80 0.8 0.64 $0.60 0.61 The dividend has increased 176% $0.40 0.45 0.45 0.41 since the IPO in 2010. $0.20 $0.00 2010 2011 2012* 2013 2014 2015 2016 2017 2018 20
Slide 19: Maximizing Shareholder Value
Maximizing Shareholder Value Management’s priority is to deploy capital through: Organic Growth Strategic M&A Stock Repurchases Dividends Special Dividends Page 19
Slide 20: Why Invest in First Interstate BancSystem?
Why Invest in First Interstate BancSystem? • Committed to Increasing Shareholder Value • Long Track Record of Profitability • Strong Core Deposit Funding • Conservative Credit Strategy which Limits Exposure to Large Losses • Diversified Client Base Tempers Economic Volatility • Expansion into Northw
Slide 21: Thank You
Thank You
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