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BILLINGS, Mont. - First Interstate BancSystem, Inc. (NASDAQ:FIBK), a community banking organization, has announced the appointment of David P. Della Camera as its new Executive Vice President and Chief Financial Officer, effective as of yesterday. The transition follows the company’s planned succession strategy that was initially made public in February 2025. According to InvestingPro data, FIBK currently maintains a market capitalization of $2.85 billion and shows a Fair Value that suggests the stock is currently undervalued.
Della Camera, who has been with First Interstate since 2021, previously held the position of Deputy CFO. His responsibilities included overseeing financial planning and analysis, investor relations, and strategic initiatives such as mergers and acquisitions. With a history of roles including Director of Corporate Development and Financial Strategy and Director of Financial Planning and Analysis, Della Camera brings a thorough knowledge of the company’s fiscal operations to his new role. He takes the helm at a time when the company maintains strong financial health metrics, with InvestingPro analysis showing the company has been consistently profitable over the last twelve months.
"It is an honor to step into the role of CFO," Della Camera commented on his appointment. "As Deputy CFO, I have benefited immensely from Marcy’s guidance and look forward to continuing the momentum she has worked so diligently to create."
Marcy D. Mutch, the outgoing CFO, will remain with the company as an executive advisor through the end of 2025 and will act as a consultant until December 31, 2026.
Headquartered in Billings, Montana, First Interstate BancSystem operates as a bank holding company with a focus on serving communities through a network of banking offices and online services across several states, including Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming. The company has demonstrated strong shareholder commitment, maintaining dividend payments for 16 consecutive years with a current dividend yield of approximately 7%. For deeper insights into FIBK’s financial performance and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
The company’s statement also included forward-looking language typically found in such announcements, cautioning readers that such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
This news is based on a press release statement issued by First Interstate BancSystem, Inc.
In other recent news, First Interstate BancSystem reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.49, which fell short of the projected $0.55. The company’s revenue also missed expectations, coming in at $247 million compared to the anticipated $253.5 million. Despite these setbacks, the net interest margin showed a slight improvement, increasing by 2 basis points to 3.22%. Piper Sandler reaffirmed its Overweight rating on First Interstate BancSystem, maintaining a price target of $38.00, with analysts noting potential for net interest income growth. The firm suggested that new CEO Jim Reuter’s strategic initiatives could enhance profitability and expand the company’s market multiple. First Interstate is also undergoing a strategic shift, focusing on branch optimization and digital investments, while moving away from large mergers and acquisitions. Looking ahead, the bank anticipates net interest income growth of 3.5-5.5% for 2025, with expectations of high single-digit growth in 2026.
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