First Interstate reports Q2 EPS 65c, consensus 67c

“We continued to deliver solid financial performance in the second quarter in a difficult environment for banking and we are encouraged that we are beginning to see a reversion to historical trends in our deposit base,” said Kevin P. Riley, President and Chief Executive Officer of First Interstate BancSystem, Inc. “Our markets are experiencing healthy economic conditions, most notably in the tourism and agriculture industries, where we are seeing significant increases in visitors to our national parks and have sufficient moisture levels in most parts of our footprint. We are focused on staying true to our community banking model by taking care of our clients and servicing our markets, which has allowed us to continue growing our client base. Over the first half of the year we have added a significant number of net new deposit accounts, as clients look to move their banking relationship to a strong financial institution with a reputation for service.”