22 slides from First Interstate Bancsystem's shareholder meeting presentation, May 21, 2014
Slide 1: First Interstate BancSystem, Inc. Annual Meeting May 21, 2014
First Interstate BancSystem, Inc. Annual Meeting May 21, 2014 Exhibit 99.1
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: A Strong Banking Franchise spread across a Healthy Economic Footprint
A Strong Banking Franchise spread across a Healthy Economic Footprint ST
Slide 4: Company Snap Shot Company Financial Performance
Company Snap Shot Company Financial Performance 2013 – A Year of Solid Performance Total Assets of $7.6 Billion Total Loans of $4.3 Billion Total FTE’s of 1635, with 47 FTE reduction during the year Branch density optimization resulted in 2 branch closures and reprioritizing services at 6 branches B
Slide 5: Balance Sheet, Earnings and Asset Quality Trends
Balance Sheet, Earnings and Asset Quality Trends
Slide 6: Asset Base Stable throughout the Recession
Asset Base Stable throughout the Recession
Slide 7: Real Estate Portfolio shifted out of Construction Real Estate
Real Estate Portfolio shifted out of Construction Real Estate. Growth in Residential Real Estate from 10 – 15 year Mortgage Products. Total Loan Portfolio remains concentrated on Real Estate Loans Loan Portfolio Mix Total Loan Portfolio Real Estate Portfolio (in millions)
Slide 8: Deposit base stable throughout the Recession
Deposit base stable throughout the Recession
Slide 9: Shifting Deposit Mix
Shifting Deposit Mix Low interest rate environment resulted in a shift out of Time Deposits into Demand deposits (in millions)
Slide 10: Earnings Improvement
Earnings Improvement (in thousands)
Slide 11: Earnings Per Share Trending UP
Earnings Per Share Trending UP
Slide 12: Earnings Ratios back to Pre-Recession Levels
Earnings Ratios back to Pre-Recession Levels
Slide 13: Strong Capital Ratios
Strong Capital Ratios * Redemption of $50 M Preferred Stock Organic growth preferred Mountain West Acquisition Strong dividend payout ratio Stock repurchase plan Deploying capital to maximize shareholder return
Slide 14: Improving Credit Quality Trends
Improving Credit Quality Trends (In millions) 70% reduction since peak in mid-2012 Earnings Improvement driven by Improved Credit Metrics
Slide 15: Stock Price Increase at Steady Pace
Stock Price Increase at Steady Pace Since IPO March 23, 2010
Slide 16: Significant Total Shareholder Return in 2013
Significant Total Shareholder Return in 2013
Slide 17: First Interstate BancSystem Merger with Mountain West Financial Corp. February 10, 2014
First Interstate BancSystem Merger with Mountain West Financial Corp. February 10, 2014
Slide 18: Compelling Strategic Fit Low Execution Risk Enhances Shareholder Value
Compelling Strategic Fit Low Execution Risk Enhances Shareholder Value Transaction Highlights Creates the #1 deposit market share franchise in the state of Montana Meaningfully expands Helena presence while creating consolidation opportunities in other market areas Adds scale within existing footpri
Slide 19: Slide 19
Slide 20: Summary of Deal Terms
Consideration Valuation Post-Merger Economic Ownership Anticipated Closing Selected Closing Conditions Summary of Deal Terms 0.2552 FIBK shares of Class A Common Stock and $7.125 in cash in exchange for each MTWF share Outstanding and unexercised MTWF options will be cashed out at closing Based on F
Slide 21: Summary Financial Assumptions and Impact
Cost Savings One-time Deal Costs Fair Market Value and Accounting Adjustments Debt Redemption Impact to FIBK Shareholders 2015e EPS TBVPS Impact Internal Rate of Return Summary Financial Assumptions and Impact Approximately 35% of MTWF noninterest expense base Approximately $7.2 million pretax Loan
Slide 22: Why invest in First Interstate BancSystem?
Long Track Record of Profitability Leading Market Positions Attractive and Healthy Footprint Improving Credit Metrics Low-Cost Core Deposit Base Growth Opportunities Increasing Shareholder Returns Why invest in First Interstate BancSystem?