First Interstate Bancsystem, Inc. · NASDAQ:FIBK
First Interstate Bancsystem — Shareholder Meeting (May 2021)
21 slides from First Interstate Bancsystem's shareholder meeting presentation, May 26, 2021
Slide 1: Annual Shareholder's Meeting May 26, 2021
Annual Shareholder’s Meeting May 26, 2021 Exhibit 99.1
Slide 2: Forward-Looking Statements Disclaimer
Forward-Looking Statements Disclaimer Page 2 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 pro
Slide 3: FIBK Today Overview
FIBK Today Overview Headquarters Billings, MT Kroll Rating (Subordinated Notes) BBB Total Assets $17.7 Billion Trust Assets Under Management $5.2 Billion Total Deposits $14.2 Billion Description • Headquartered in Billings, MT and focused on regional community banking in Idaho, Montana, Oregon, Sout
Slide 4: Maximizing Shareholder Value
Page 4 Maximizing Shareholder Value
Slide 5: Shareholder Value Creation: ROE
Shareholder Value Creation: ROE Page 5 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 2016 2017 2018 2019 2020 First Interstate Return on Average Equity^ vs. Peers* First Interstate Top Peer Quartile Median Peer Average Peer Bottom Peer Quartile ^Source: SNL and company reports *The comparison t
Slide 6: Shareholder Value Creation: EPS Growth
Shareholder Value Creation: EPS Growth Page 6 -40.00% -30.00% -20.00% -10.00% 0.00% 10.00% 20.00% 30.00% 40.00% 2016 2017 2018 2019 2020 Annual Earnings Per Share^ vs Peers First Interstate Top Peer Quartile Median Peer Average Peer Bottom Peer Quartile ^Source: Bloomberg
Slide 7: Solid Financial Performance
Page 7 Solid Financial Performance
Slide 8: Earnings per Share
Earnings per Share Page 8 $2.13 $2.05 $2.75 $2.83 $2.53 1.00% 3.00% 5.00% 7.00% 9.00% $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 $2.75 $3.00 2016 2017 2018 2019 2020 $ i n M il li o n s EPS Compounded EPS Growth (4.74%)
Slide 9: Pre-Provision Net Revenue (PPNR) per Share
Pre-Provision Net Revenue (PPNR) per Share Page 9 $3.46 $3.23 $3.69 $3.90 $4.18 1.00% 3.00% 5.00% 7.00% 9.00% $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 2016 2017 2018 2019 2020 $ i n M il li o n s PPNR (1) Compounded PPNR Growth (4.84%) (1) PPNR is calculated as Net Income Before Tax + Provisi
Slide 10: Our Company
Our Company First interstate -BancSystem
Slide 11: Diversified Loan Portfolio by Industry
Diversified Loan Portfolio by Industry Loan Mix Commercial Commercial Real Estate & Construction Agriculture RE 2% Commercial RE 38% Residential RE 14% Construction RE 11% Consumer 10% Agriculture 3% Commercial 22% $9.8 Billion in Loans Real Estate and Rental and Leasing 13% Construction 11% Health
Slide 12: Superior Credit Performance
Superior Credit Performance Non-Performing Assets to Total Assets^Net Charge-Offs to Average Loans^ 12 Allowance for Credit Losses to Total Loan and Leases^ 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 2016 2017 2018 2019 2020 First Interstate Top Peer Quartile Median Peer Average Peer Bottom Pee
Slide 13: Strong Core Deposit Base
Strong Core Deposit Base Page 13 As of December 31, 2020 Overview Total Deposits $14.2 Billion Total Core Deposits* $13.8 Billion Cost of Deposits (Q4 2020) 8 basis points Demand Non- Interest Bearing 33% Demand Interest Bearing 29% Savings 31% Time Other 4% CDs > $100k 3% *Core Deposits defined as
Slide 14: Capital Deployment
Management’s priority is to deploy capital through: Page 14 Return on Capital Organic Growth M&A Share Repurchases Special Dividend Dividends Capital Deployment
Slide 15: Actively Growing Franchise
Actively Growing Franchise 1968 Mr. Homer Scott establishes First Interstate Bank with the purchase of the Bank of Commerce in Sheridan, Wyoming 2015 Absarokee Bancorporation, Inc. 2017 Bank of the Cascades $3.2 Billion 46 branches 2014 Mountain West Financial Corp. 2016 Flathead Bank of Bigfork $22
Slide 16: Cumulative Repurchase Summary
CUMULATIVE REPURCHASE SUMMARY Shares Approved for Repurchase: 4,000,000 Shares Purchased Since 02/28/20: 3,610,842 Shares Purchased YTD 2021 72,500 Shares Remaining: 389,158 Shares Purch. % of Shares Approved 90% Principal total purchased since 02/28/20: $118,203,720.29 Average Repurchase Price: $32
Slide 17: Consistent Dividend to Shareholders
Consistent Dividend to Shareholders Page 17 $0.45 $0.61 $0.41 $0.64 $0.80 $0.88 $0.96 $1.12 $1.24 $2.00 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dividend * Accelerated Dividend paid in 2012 ** Includes a special dividend of $0.60/share ***
Slide 18: FIBK Shareholder Return vs. Indices
FIBK Shareholder Return vs. Indices 295.78 % 181.20 % 138.93 % -100 -50 0 50 100 150 200 250 300 350 M a r- 1 0 M a y -1 0 J u l- 1 0 S e p -1 0 N o v -1 0 J a n -1 1 M a r- 1 1 M a y -1 1 J u l- 1 1 S e p -1 1 N o v -1 1 J a n -1 2 M a r- 1 2 M a y -1 2 J u l- 1 2 S e p -1 2 N o v -1 2 J a n -1 3 M
Slide 19: Appendix
Appendix FirstInterstate .BancSystem
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures Page 20 This presentation contains pre-provision net revenue (PPNR) and pre-provision net revenue per share (PPNRPS), which are non-GAAP financial measures that management uses to evaluate our capital adequacy. PPNR is calculated as net-interest income plus non-interest i
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation Page 21 (Dollars in millions except per share data) Pre-Provision Net Revenue (PPNR) 2016 2017 2018 2019 2020 Net interest income (GAAP) $279.8 $349.8 $432.5 $495.0 $497.0 Plus: Noninterest income (GAAP) $131.7 $137.6 $138.8 $142.6 $156.7 Total revenues (GAAP) $411.5 $487.4 $
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