BILLINGS, Mont.--(BUSINESS WIRE)--
First Interstate BancSystem, Inc. (NASDAQ: FIBK) has been assigned a senior unsecured debt rating of BBB+ by Kroll Bond Rating Agency (KBRA). Its banking subsidiary, First Interstate Bank, received a deposit and senior unsecured debt rating of A-. KBRA described First Interstate’s rating outlook as stable.
According to KBRA, the ratings for First Interstate BancSystem are supported by the Company’s steady overall performance, including stable returns, a solid liquidity position with ample core deposits, and strong risk-based capital ratios.
Kevin Riley, President and Chief Executive Officer of First Interstate BancSystem, commented, “We are very pleased to announce our ratings from Kroll Bond Rating Agency as we continue to focus on the long-term growth of our Company. By obtaining an investment grade rating, we continue to diversify FIBK’s access to the capital markets, in addition to providing third-party validation to the strength of our Company, which should give our clients and shareholders confidence in our organization and its strategic direction.”
First Interstate BancSystem, Inc. is a financial services holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank and Bank of the Cascades.
First Interstate Bank is a community bank with $9.1 billion in assets as of March 31, 2017, delivering financial solutions through 80 locations located throughout Montana, Wyoming, and South Dakota. As a recognized leader in community banking services, First Interstate is guided by strong values, as well as a commitment to delivering long-term organic growth by exceeding client expectations, through its products and exemplary services, and supporting, with leadership and resources, the communities it serves.
Bank of the Cascades became part of the First Interstate BancSystem, Inc. family on May 30, 2017. With $3.1 billion in assets, as of March 31, 2017, the Bank focuses on delivering the best in full relationship community banking through 46 branches in Oregon, Idaho and Washington. Similar to First Interstate, the Bank’s strategy focuses on delivering superior financial solutions for the well-being of their clients.
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