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First Interstate BancSystem, Inc. (NASDAQ:FIBK), parent company of First Interstate Bank, has been named one of the best banks in America by Forbes Magazine.
“First Interstate is driven by strong family and corporate values as well as a commitment to long-term organic growth and exemplary customer service,” said Ed Garding, President and CEO of First Interstate Bank. “To be recognized by Forbes as one of the best banks in America is a testament to our values-based culture, which is the foundation of our success.”
To determine America’s best banks, Forbes ranked the 100 largest publicly traded banks (ranging in asset size from $5.9 billion to $2.5 trillion) based on the following metrics: return on average equity, net interest margin, nonperforming loans (NPLs) as a percentage of loans, nonperforming assets as a percentage of assets, reserves as a percentage of NPLs, two capital ratios (Tier 1 and risk-based), and leverage ratio. In addition, revenue growth for the latest 12 months was also considered.
First Interstate BancSystem, Inc. is a financial services holding company, headquartered in Billings, Montana, with $7.6 billion in assets as of December 31, 2013. It is the parent company of First Interstate Bank, a community bank operating 74 banking offices, along with online and mobile banking services, throughout Montana, Wyoming, and South Dakota. As a recognized leader in community banking services with 26 consecutive years of profitability, First Interstate remains committed to exceeding customer expectations through its products and services and supporting, with leadership and resources, the communities it serves.