First Interstate BancSystem, Inc. is a financial holding company headquartered in

Billings, Montana Billings is the largest city in the U.S. state of Montana, with a population of 117,116 as of the 2020 census. Located in the south-central portion of the state, it is the seat of Yellowstone County and the principal city of the Billings Met ...

. It is the parent company of First Interstate Bank, a community bank with locations throughout Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming.

History

First Interstate Bank was established in 1968 when its founder, Homer Scott, Sr. purchased the Bank of Commerce in Sheridan, Wyoming. Scott incorporated the company in Montana in 1971 and over the next 10 years acquired two more banks and established six de novo banks in Montana and Wyoming. In 1984, the company entered into a franchise agreement with

First Interstate Bancorp First Interstate Bancorp was a bank holding company based in the United States that was taken over in 1996 by Wells Fargo. Headquartered in Los Angeles, it was the nation's eighth largest banking company. The name (along with the company logo) h ...

, a multi-state bank holding company headquartered in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...

, to use the First Interstate Bank name and logo. In 1996, Wells Fargo acquired First Interstate Bancorp, but not First Interstate Bank. Instead, the Montana organization successfully negotiated to retain the well-known First Interstate name and logo. In 2017, the company retained the rights to use the First Interstate name and logo in all 50 states. By the end of 1999, First Interstate had grown to 42 branches through a combination of de novo start-ups and acquisitions. In 2008, the Bank expanded into

South Dakota South Dakota (; Sioux: , ) is a U.S. state in the North Central region of the United States. It is also part of the Great Plains. South Dakota is named after the Lakota and Dakota Sioux Native American tribes, who comprise a large porti ...

by acquiring 18 banking offices pursuant to the purchase of First Western Bank. The Bank extended into

Idaho Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyomi ...

Oregon Oregon () is a state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington, while the Snake River delineates much of its eastern boundary with Idaho. T ...

, and

Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...

with the acquisitions of Cascade Bancorp in 2017 and Northwest Bancorporation, Inc., in 2018—the parent companies of Bank of the Cascades and Inland Northwest Bank, respectively. In 2019, Idaho Independent and Community 1st Banks joined the Company, officially becoming First Interstate Bank in June of that year. In September 2021, First Interstate announced a merger with

Sioux Falls, South Dakota Sioux Falls () is the most populous city in the U.S. state of South Dakota and the 130th-most populous city in the United States. It is the county seat of Minnehaha County and also extends into Lincoln County to the south, which continues up ...

-based Great Western Bank. The merger was completed on February 1, 2022, making Great Western an operating division of First Interstate Bank; Great Western locations became First Interstate Bank branches on May 23, 2022. As of 2022, First Interstate has over 300 branches throughout Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming.

Properties

First Interstate Bank is a fifty-percent owner and primary tenant of the First Interstate Center, a 20-story building in Billings, Montana. Completed in 1985 the 272 foot (83 m) structure is the tallest building in the state of Montana.

References

External links

First Interstate Bank home page
{{DEFAULTSORT:First Interstate Bancsystem Banks based in Wyoming Sheridan County, Wyoming Companies based in Montana Billings, Montana Banks established in 1968 Companies listed on the Nasdaq 1968 establishments in Wyoming