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The board of directors of First Interstate BancSystem, Inc. (NASDAQ:FIBK), a financial institution with a market capitalization of $3.36 billion and a strong 16-year track record of consistent dividend payments, authorized a new stock repurchase program on Thursday. The program allows the company to repurchase up to $150 million of its issued and outstanding common stock through March 31, 2027.
According to the company’s statement, repurchases may be conducted through open market purchases, private transactions, block trades, or authorized Rule 10b5-1 trading plans, in accordance with applicable federal securities laws. The company noted that any repurchased shares will be returned to authorized but unissued shares under Delaware law.
As of July 31, 2025, First Interstate BancSystem had 104,856,752 shares of common stock issued and outstanding. The closing price of the company’s shares on the Nasdaq Stock Market on Wednesday was $32.20 per share.
The company stated that the timing and amount of share repurchases may be suspended, terminated, or modified at any time, and that it is not obligated to repurchase any specific number of shares during the program period. Repurchases will be subject to market conditions, the trading price of the common stock, alternative capital uses, and other factors.
Information regarding share repurchases will be provided in the company’s periodic reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, as required by the Exchange Act.
This article is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, First Interstate BancSystem reported its financial results for the second quarter of 2025. The company exceeded earnings expectations with an earnings per share (EPS) of $0.69, surpassing the forecasted $0.58. However, revenue did not meet projections, totaling $248.3 million compared to the anticipated $253.14 million. Additionally, First Interstate BancSystem announced it has redeemed all of its outstanding 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030. This redemption was completed at 100% of the principal amount, along with accrued and unpaid interest up to, but not including, August 15, 2025. In another development, the company appointed Michael L. Scudder as a Class I director on its board. Mr. Scudder’s term is set to expire at the 2028 annual meeting of shareholders. These recent developments reflect significant changes within First Interstate BancSystem.
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