FIRST INTERSTATE BANCSYSTEM, INC. FIBK Income Statement

First interstate bancsystem, inc. (FIBK)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Interest and fees on loans
470,900	404,300	324,700	259,200	246,015	231,469	220,687	230,882	245,767	266,472	279,985
Interest and dividends on investment securities:
Taxable
62,300	55,400	42,800	32,200	30,861	29,900	31,237	36,847	41,304	42,338	41,978
Exempt from federal taxes
2,000	2,400	3,200	3,400	3,998	4,357	4,728	4,923	4,749	4,621	5,298
Interest on deposits in banks
18,800	11,300	7,100	2,600	1,537	1,334	992	1,235	1,050	1,093	520
Interest on federal funds sold
-	-	-	-	12	7	18	13	13	22	253
Total interest income
554,000	473,400	377,800	297,400	282,423	267,067	257,662	273,900	292,883	314,546	328,034
Interest expense:
Interest on deposits
49,300	32,600	21,400	12,700	13,107	13,779	15,800	22,306	33,533	53,949	73,226
Interest on federal funds purchased
-	-	-	-	-	-	-	-	-	-	20
Interest on securities sold under repurchase agreements
3,900	2,700	1,300	400	231	237	294	579	695	879	776
Interest Expense, Short-term Borrowings
0	200	-	-	-	-	-	-	-	3	1,347
Interest on other debt
1,300	1,300	500	0	0	2,016	1,936	1,981	1,975	2,433	3,249
Interest on long-term debt
-	-	1,700	1,800	2,300	-	-	-	-	-	-
Interest in preferred stock pending redemption
-	-	-	-	-	-	159	131	0	0	-
Interest on subordinated debentures held by subsidiary trusts
4,500	4,100	3,100	2,700	2,422	2,574	2,506	5,117	5,828	5,843	6,280
Total interest expense
59,000	40,900	28,000	17,600	18,060	18,606	20,695	30,114	42,031	63,107	84,898
Net interest income
495,000	432,500	349,800	279,800	264,363	248,461	236,967	243,786	250,852	251,439	243,136
Provision for credit losses
13,900	8,600	11,000	10,000	6,822	-6,622	-6,125	40,750	58,151	66,900	45,300
Net interest income after provision for credit losses
481,100	423,900	338,800	269,800	257,541	255,083	243,092	203,036	192,701	184,539	197,836
Non-interest income:
Mortgage banking revenues
30,400	24,900	28,900	37,200	29,973	23,940	34,254	41,790	21,153	22,868	30,928
Loss on termination of interest rate swap
0	0	-1,100	0	0	-	-	-	-	-	-
Investment securities gains (losses), net
100	-100	700	300	137	61	1	348	1,544	170	137
Other income
15,900	15,100	14,300	10,000	11,313	11,529	7,525	6,771	6,264	7,811	9,734
Non-recurring litigation recovery
-	-	-	4,200	0	0	-	-	-	-	-
Total non-interest income
149,900	143,300	141,800	136,500	121,515	111,835	111,679	114,861	91,872	90,911	100,690
Non-interest expense:
Salaries and wages
155,300	146,400	122,700	108,700	101,451	96,513	94,002	89,833	83,560	83,373	113,569
Employee benefits
51,500	47,900	37,600	35,200	31,324	30,564	30,338	29,345	27,792	29,294	-
Outsourced technology services
32,300	28,700	25,100	20,500	10,124	9,423	9,029	8,826	8,933	9,477	10,567
Occupancy, net
28,300	25,400	22,400	17,700	17,879	17,796	16,587	15,786	16,223	16,251	15,898
Furniture and equipment
13,200	12,700	11,500	9,600	15,524	13,816	12,554	12,859	12,562	13,434	12,405
OREO expense, net of income
-2,200	300	400	0	-1,475	-272	2,291	9,400	8,652	7,670	6,397
Professional fees
11,600	10,500	10,400	5,000	6,458	4,882	4,773	4,044	3,676	3,245	-
FDIC insurance premiums
3,500	5,600	4,700	4,500	4,858	4,608	5,057	6,470	7,333	10,044	12,130
Mortgage servicing rights amortization
4,300	3,100	3,000	3,000	2,434	2,361	2,787	3,501	3,225	4,615	7,568
Mortgage servicing rights impairment
400	0	-100	0	-97	-136	-99	-771	1,275	-787	-7,224
Core deposit intangibles amortization
11,200	7,900	5,500	3,400	3,388	2,251	1,418	1,420	1,446	1,748	2,131
Other expenses
66,200	60,000	53,500	50,600	50,936	47,480	43,332	45,922	43,735	42,640	44,269
Loss contingency expense
-	-	-	-	5,000	4,000	0	3,000	-	-	-
Acquisition related expenses
20,300	12,400	27,200	2,800	795	4,017	0	0	-	-	-
Total non-interest expense
395,900	360,900	323,900	261,000	248,599	237,303	222,069	229,635	218,412	221,004	217,710
Income before income tax expense
235,100	206,300	156,700	145,300	130,457	129,615	132,702	88,262	66,161	54,446	80,816
Income tax expense
54,100	46,100	50,200	49,600	43,662	45,214	46,566	30,038	21,615	17,090	26,953
Net Income (Loss) Attributable to Parent
181,000	160,200	106,500	95,700	86,795	84,401	86,136	58,224	44,546	37,356	53,863
Preferred stock dividends
-	-	-	-	-	-	-	3,300	3,422	3,422	3,422
Net Income (Loss) Available to Common Stockholders, Basic
-	-	-	-	-	-	-	54,924	41,124	33,934	50,441
Earnings per common share, basic (in dollars per share)
2.84	2.77	2.07	2.15	1.92	1.89	1.98	1.28	0.96	0.85	1.61
Earnings per common share, diluted (in dollars per share)
2.83	2.75	2.05	2.13	1.90	1.87	1.96	1.27	0.96	0.85	1.59
Payment services revenues
Non-interest income
41,500	43,300	43,300	34,400	32,750	30,695	-	-	-	-	-
Service charges on deposit accounts
Non-interest income
21,100	21,800	21,300	18,400	17,031	16,567	16,837	17,412	17,647	18,181	20,323
Other service charges, commissions and fees
Non-interest income
17,100	15,100	13,300	11,500	10,404	10,047	35,977	34,226	31,689	29,494	28,747
Wealth management revenues
Wealth management revenues
23,800	23,200	21,100	20,500	19,907	18,996	17,085	14,314	13,575	12,387	10,821