First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced today that it will redeem all $50 million of its outstanding 6.75% Series A noncumulative redeemable preferred stock for cash, with a planned redemption date of January 18, 2013. The redemption price will be $10,000 per share, plus any accrued and unpaid dividends. As of December 18, 2012, First Interstate had 5,000 shares of Preferred Stock outstanding.
First Interstate BancSystem, Inc. is a financial services holding company, headquartered in Billings, Montana, with $7.3 billion in assets as of September 30, 2012. It is the parent company of First Interstate Bank, a community bank operating 72 offices throughout Montana, Wyoming, and South Dakota. A recognized leader in community banking services with 24 consecutive years of profitability, First Interstate remains a family business whose culture is driven by strong family and corporate values, as well as a commitment to long-term organic growth, exemplary customer service, exceeding customer expectations through its products and services and supporting with leadership and resources the communities it serves.