On December 13, 2011, the Company declared a quarterly dividend to common shareholders of $0.12 per share. This dividend was paid on January 17, 2012 to shareholders of record as of January 3, 2012.
“The improvement in our fourth quarter results over third quarter was driven largely by higher residential mortgage loan origination activity," said Lyle R. Knight, President and Chief Executive Officer of First Interstate BancSystem, Inc. "Economic conditions in our markets remain stable, but not strong enough to result in any meaningful improvement in commercial loan demand. We are encouraged by the 10% decline in our criticized loans during the fourth quarter, which indicates that our asset quality is improving and our credit costs should continue to be manageable.”
(Unaudited; $ in thousands)
|Three Months Ended||SequentialQuarter% Change||Year OverYear% Change|
|December 31,2011||September 30,2011||December 31,2010|
|Net interest income||63,035||63,492||62,850||-0.7||%||0.3||%|
|Other service charges, commissions and fees||8,062||8,479||7,421||-4.9||%||8.6||%|
|Income from the origination and sale of loans||8,087||5,512||8,027||46.7||%||0.7||%|
|Service charges on deposit accounts||4,543||4,609||4,327||-1.4||%||5.0||%|
|Wealth management revenues||3,177||3,202||3,083||-0.8||%||3.0||%|
|Investment securities gains, net||1,488||38||62||3,815.8||%||2,300.0||%|
|Total non-interest income||26,997||23,125||25,511||16.7||%||5.8||%|
|Tax equivalent interest margin ratio||3.79||%||3.84||%||3.72||%|
|Twelve Months Ended||Year OverYear% Change|
|December 31,2011||December 31,2010|
|Net interest income||250,852||251,439||-0.2||%|
|Other service charges, commissions and fees||31,689||29,494||7.4||%|
|Income from the origination and sale of loans||21,153||22,868||-7.5||%|
|Service charges on deposit accounts||17,647||18,181||-2.9||%|
|Wealth management revenues||13,157||12,387||6.2||%|
|Investment securities gains, net||1,544||170||808.2||%|
|Total non-interest income||91,872||90,911||1.1||%|
|Tax equivalent interest margin ratio||3.80||%||3.89||%|
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