First Interstate Bancsystem, Inc. · NASDAQ:FIBK
First Interstate Bancsystem — Q3 2026 Earnings Presentation
21 slides from First Interstate Bancsystem's earnings presentation, Oct 22, 2026
Slide 1: Q3 2026 Investor Presentation
Exhibit 99.2 Q3 2026 Investor Presentation October 22, 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 Rocky Mountains, Pacific Northwest, and Midwest Corporate Overview September 30, 2026 Headquarters Billings, MT Exchange/Listing NASDAQ: FIBK Market Capitalization* $3.3 Billion Annuali
Slide 4: Company Highlights
COMPANY HIGHLIGHTS Interstate BancSystem N 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 Robust capital and liquidi
Slide 5: 2026 Goals and Focus Areas
2026 GOALS AND FOCUS AREAS 1. IMPROVE CORE PROFITABILITY Favorable multi-year NII trajectory coupled with operational efficiencies • 10 consecutive quarters of net interest margin expansion (+17bps in adjusted FTE ■ Repricing and reinvestment of maturing fixed rate loans and securities NIM* since th
Slide 6: Enhancing Franchise Productivity
ENHANCING FRANCHISE PRODUCTIVITY Net Interest Margin (FTE) (Non-GAAP)** Average Deposits Per Share* 3.55 3.48 3.43 3.36 3.38 3.32 $224.7 $223.5 $220.7 $220.1 $218.4 $217.6 Q225 Q325 Q425 Q126 Q226 Q326 Q225 Q325 Q425 Q126 Q226 Q326 Net FTE interest margin (Non-GAAP) QTD Deposits Per Share Average De
Slide 7: Third Quarter 2026 Highlights
THIRD QUARTER 2026 HIGHLIGHTS • Net income of $62.2 million, or $0.65 per diluted share. • Net interest margin (NIM) of 3.53%, an increase of 8 basis points from the second quarter of 2026; NIM on a fully taxable equivalent (FTE) Earnings basis1 of 3.55%, an increase of 7 basis points from the secon
Slide 8: Earning Asset Yield
EARNING ASSET YIELD • Yields on loans increased 5 bps compared to the second Fixed and Adjustable Rate Loans* quarter of 2026 and decreased 1 bps compared to the third Maturing or Repricing Balance Year Roll-Off Coupon quarter of 2025 ($MM)*** • Through 2027 $1.8B of fixed and adjustable rate loans
Slide 9: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO Loan Highlights: • Loans decreased $296.0 million during the third quarter of 2026 compared to the second quarter of 2026 driven by $47.7 million of continued amortization of the indirect portfolio for which the Company stopped originating loans during the first quarter of
Slide 10: Commercial Real Estate and Construction Portfolio
COMMERCIAL REAL ESTATE AND CONSTRUCTION PORTFOLIO Highlights: Market Type • $8.4 billion portfolio (60% of total loans), well diversified by property type and geography • Non-owner-occupied portfolio of $5.3 billion (38% of total loans) • $61.5 million of non-accrual loans (0.73% of commercial real
Slide 11: Diverse Deposit Base: By Type of Account
DIVERSE DEPOSIT BASE: BY TYPE OF ACCOUNT Deposit Highlights: Mix of Consumer and Business Deposits* • Total deposits decreased $52.8 million or 0.2%, at September 30, 2026 from June 30, 2026, across all interest-bearing deposit categories during the third quarter of 2026 which were partially offset
Slide 12: Capital and Liquidity
CAPITAL AND LIQUIDITY Liquid and flexible balance sheet with strong capital position LHFI to Deposit Ratio Capital and Liquidity Highlights: • Annualized dividend yield of 5.0% based on an average share price of $37.82 for the 70.1% 68.8% 67.3% 66.6% 65.4% third quarter of 2026. • Tangible book valu
Slide 13: Allowance for Credit Losses (ACL)
ALLOWANCE FOR CREDIT LOSSES (ACL) ACL ($MM) and Funded ACL/LHFI Ratio ACL Highlights: • Funded ACL as a percentage of LHFI increased to 1.30% of loans from 1.28% in the prior quarter. $212.1 • Net charge-offs were $9.9 million which represented 28 basis 6.3 $201.6 $197.3 points of average loans duri
Slide 14: Asset Quality and Reserve Trends
ASSET QUALITY AND RESERVE TRENDS Asset Quality Highlights: Total non-performing loans ($MM) and ACL/NPL Ratios • Net charge-offs totaled $9.9 million, or 28 basis points of average loans, during $182.2 the third quarter of 2026. $155.9 $159.7 $151.1 • Total non-performing loans (NPLs) decreased by $
Slide 15: Net Interest Income
NET INTEREST INCOME Net Interest Income (NII) and Net Interest Margin (NIM) FTE NII¹ ($MM) and FTE NIM¹ Highlights: • $2.4 million of loan purchase accounting accretion (PAA) for the third quarter of 2026, a decrease from $3.5 million in the prior $208.2² $207.7² $207.3² quarter. $3.5 $2.6 $202.0² $
Slide 16: Noninterest Income
NONINTEREST INCOME Noninterest Income by Type * Payment Services, 38% Dollars in millions Other Income, 13% 3Q25 2Q26 3Q26 Payment services revenues $ 16.8 $ 16.8 $ 16.7 Mortgage banking revenues 1.5 1.5 1.5 Wealth management revenues 10.4 10.6 11.1 Other Service Charges & Fees, 5% Service charges o
Slide 17: Noninterest Expense
NONINTEREST EXPENSE Noninterest Expense ($MM) and Efficiency Ratio 166.7 157.9 157.6 158.9 157.1 Dollars in millions 3Q25 2Q26 3Q26 Salaries and wages $ 66.2 $ 64.9 $ 65.9 Employee benefits 18.2 19.0 19.5 63.8% Occupancy and equipment 18.5 18.0 17.8 61.7% 59.0% 61.7% Other intangible amortization 3.
Slide 18: 2026 Guidance Summary
2026 GUIDANCE SUMMARY* • Anticipate ending deposits between $21.4-$21.8 billion with normal seasonality Balance Sheet • Anticipate ending loans between $13.5-$13.8 billion. Assumes elevated payoffs and continued weakness in mortgage production, partially offset by improved commercial production Net
Slide 19: 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 ca
Slide 20: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 3Q25 4Q25 1Q26 2Q26 3Q26 (Dollars in millions) Total common stockholders' equity (GAAP) (A) $ 3,448.7 $ 3,447.0 $ 3,358.5 $ 3,322.6 $ 3,155.0 Less goodwill and other intangible assets (excluding mortgage servicing rights) 1,185.5 1,182.2 1,178.9 1,175.6 1,172.2 Tangible commo
Slide 21: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 3Q25 4Q25 1Q26 2Q26 3Q26 (Dollars in millions) Net interest income (A) $ 206.8 $ 206.4 $ 200.7 $ 202.2 $ 206.2 FTE adjustments(1) 1.4 1.3 1.3 1.4 1.1 Net interest income on a FTE basis (Non-GAAP) (B) 208.2 207.7 202.0 203.6 207.3 Less purchase accounting accretion on acquired
First Interstate BancSystem — Q3 2026 Earnings Presentation on 6ix