Gold prices steady as traders assess Fed rate outlook after soft US data
BILLINGS, Mont. - First Interstate BancSystem, Inc. (NASDAQ:FIBK), a community bank holding company with a market capitalization of $3.2 billion and a P/E ratio of 14.2, disclosed the upcoming retirement of its long-serving Executive Vice President and Chief Financial Officer, Marcy D. Mutch, effective May 31, 2025. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment. Following her retirement as CFO, Mutch will continue to serve as an executive advisor until the end of 2025 and as a consultant through December 31, 2026.
David P. Della Camera, currently the Deputy CFO, has been appointed to succeed Mutch starting June 1, 2025. This transition is part of a strategic succession plan that has been in place as Mutch approached retirement age, aiming for a smooth handover of responsibilities.
During her tenure of over 18 years, Mutch has been acknowledged for her contributions to First Interstate’s growth, including her pivotal role in the company’s initial public offering in early 2010. Under her financial leadership, the company has maintained dividend payments for 16 consecutive years, currently offering a substantial 6.11% dividend yield. President and CEO James A. Reuter expressed gratitude for her dedication and the foundation she has built for the company’s financial performance. InvestingPro subscribers can access additional insights through comprehensive Pro Research Reports, which provide deep-dive analysis of FIBK and 1,400+ other US stocks.
Della Camera, who joined First Interstate in 2021, has been involved in various senior financial roles, overseeing financial planning and analysis, investor relations, and strategic initiatives such as mergers and acquisitions. His comprehensive understanding of the company’s financial operations is expected to be beneficial as he steps into the CFO role.
The announcement reflects the company’s commitment to ensuring leadership continuity and strategic guidance for the future. First Interstate BancSystem, Inc., founded in 1971 and headquartered in Billings, Montana, operates banking offices across multiple states and offers a wide range of banking products and services through its subsidiary, First Interstate Bank. The company maintains a FAIR overall financial health score according to InvestingPro metrics, with three analysts recently revising their earnings expectations upward for the upcoming period.
This news is based on a press release statement from First Interstate BancSystem, Inc.
In other recent news, First Interstate BancSystem Inc. announced its fourth-quarter 2024 financial results, reporting a net income of $52.1 million and an earnings per share (EPS) of $0.50, which fell short of the forecasted $0.58. However, the company’s revenue exceeded expectations, reaching $261.3 million compared to the anticipated $251.24 million. First Interstate BancSystem also declared a dividend of $0.47 per share, yielding 5.8%. Analysts from Piper Sandler and UBS participated in the earnings call, discussing the company’s credit processes and future strategies. The bank plans to discontinue originations in its indirect lending business, which constitutes about 4% of its loan balances. Looking forward, First Interstate BancSystem anticipates a 5-7% increase in net interest income for 2025 and expects modest loan growth in the latter half of the year. The company remains focused on relationship banking and enhancing its digital offerings, aligning with its strategic goals for organic growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.