Business Description
We are a financial and bank holding company incorporated as a Montana corporation
in 1971. We are headquartered in Billings, Montana.We currently operate 79 banking
offices, including detached drive-up facilities, in 45 communities located in
Montana, Wyoming and South Dakota. We also offer internet and mobile banking
services. Through our wholly-owned subsidiary, First Interstate Bank, or FIB,
we deliver a comprehensive range of banking products and services to individuals,
businesses, municipalities and other entities throughout our market areas. Our
customers participate in a wide variety of industries, including energy, healthcare
and professional services, education and governmental services, construction,
mining, agriculture, retail and wholesale trade and tourism. Our principal markets
range in size from 23,000 to 150,000 people, have diversified economic characteristics
and favorable population growth prospects and usually serve as trade centers
for larger rural areas.
We are the licensee under a perpetual trademark license agreement granting
us an exclusive, nontransferable license to use the “First Interstate”
name and logo in Montana, Wyoming and the six neighboring states of Idaho, Utah,
Colorado, Nebraska, South Dakota and North Dakota.
We have grown our business by adhering to a set of guiding principles and a
long-term disciplined perspective that emphasizes our commitment to providing
high-quality financial products and services, delivering quality customer service,
effecting business leadership through professional and dedicated managers and
employees, assisting our communities through socially responsible leadership
and cultivating a strong and positive corporate culture. In the future, we intend
to remain a leader in our markets by continuing to adhere to the core principles
and values that have contributed to our growth and success and by continuing
to follow our community banking model. In addition, we plan to continue to expand
our business in a disciplined and prudent manner, including organic growth in
our existing market areas and expansion into new and complementary markets when
appropriate opportunities arise.
Community banking encompasses commercial and consumer banking services provided
through our Bank, primarily the acceptance of deposits; extensions of credit;
mortgage loan origination and servicing; and trust, employee benefit, investment
and insurance services. Our community banking philosophy emphasizes providing
customers with commercial and consumer banking products and services locally
using a personalized service approach while strengthening the communities in
our market areas through community service activities. We grant our banking
offices significant authority in delivering and pricing products in response
to local market considerations and customer needs. This authority enables our
banking offices to remain competitive by responding quickly to local market
conditions and enhances their relationships with the customers they serve by
tailoring our products and price points to each individual customer’s
needs. We also require accountability by having company-wide standards and established
limits on the authority and discretion of each banking office. This combination
of authority and accountability allows our banking offices to provide personalized
customer service and be in close contact with our communities, while at the
same time promoting strong performance at the branch level and remaining focused
on our overall financial performance.
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