When the Bank of Commerce in Sheridan, Wyoming first opened its doors in 1893, little did its owners suspect what the future would hold. No doubt they would have been surprised, and justifiably proud, had they been told that 75 years later Sheridan’s Bank of Commerce would serve as the beginnings of a thriving system of banks with locations across Montana, Wyoming, and Western South Dakota.
From the time Homer Scott, Sr. first purchased the bank in 1968, through its growth in the last 4 decades, the family of First Interstate BancSystem has always adhered to a strong set of guiding principles. In formally stating these principles – the Strategic Vision of First Interstate BancSystem – we are setting forth the relationships we expect to have with our customers, employees, shareholders and the communities we serve. These relationships are closely integrated; one cannot do well without all the others. As all succeed, each succeeds.
So it follows that there is a balance in our Strategic Vision as well. Each component is equally important in that each affect every area of our operations.
First Interstate BancSystem will strive to remain the premier financial institution in our region. To achieve this, we will emphasize products of the highest quality. We will keep a pulse on the market in order to know the wants and needs of our customers and respond to them by delivering products and services that are innovative and competitive. It is not enough to follow the pace, First Interstate BancSystem will set the pace with a range of financial services which meet or exceed market expectations.
“We must nurture this land with a gentle hand and look its hardships square in the eye. We will carve a place time cannot erase between the mountains and the sky.”
We recognize our customers’ needs will change. These changing needs represent business opportunities, and First Interstate BancSystem will effectively compete for this new business by offering the right product, at the right time and at the right price.
Each of us has two important roles in helping achieve this part of our Strategic Vision. First, we are the primary contact with our customers. We will listen to what customers say, answer questions, solve problems and offer suggestions.
Second, we are a key source in identifying the changing wants and needs of our customers. We will be alert for these changes and, together, we will develop plans and products to meet our customers’ expectations.
In today’s marketplace, we recognize that long-term success requires a commitment to quality that produces visible results. First Interstate BancSystem will strive for a level of quality recognized as clearly superior to our competitors.
When customers shop competitively for financial services, they want benefits that go beyond price. They want value – a combination of price and service. Our goal, therefore, will be to provide value-added products that meet or exceed customer needs.
We realize that at each of our business locations, we face a different competitive environment. We will remain flexible to meet the special needs of each market we serve.
Shareholders supply the raw material of banking: Capital. They count on us to preserve their investment and to provide a return equal to investments of similar risk. As a result, our Strategic Vision recognizes the needs of our shareholders for investment growth and value creation, and long term sustainable earnings.
We will strive for superior financial results. By achieving this we are ensuring the strength, growth and continuity of our organization.
We expect leadership from all levels of the organization. This means facing an issue, identifying alternatives, choosing a course of action, communicating that decision, implementing it and reviewing results
We recognize that we must exercise on-going and dynamic business leadership by adapting to change strategically. We have the determination and the willingness to look at new ways to meet the challenges of the future.
Our commitment to our communities starts with the desire to support and foster growth in the local business economy. As our local communities prosper, so do we.
“Come along with me towards this vision I see. It’s a vision I have for this land. From sweat and toil, from seeds in the soil will grow roots where a nation will stand.” Wallace D. McRae
Our sense of community runs ever deeper. We recognize that the quality of life in a community is measured not only by the health of its businesses, but is inherently tied to the physical, spiritual and intellectual well being of the communities we serve. We are involved within the communities assisting in making them a better place to live and work. We operate on the basic belief that being a good neighbor is what socially responsible corporate citizenship is all about.
As an organization and as individuals, we will use our skills and energies to enrich the communities in which we live and work.
Capital may be the raw material in banking, but people are our most important resource. As a result, the foundation component of our Strategic Vision is a strong and positive corporate culture. Only in a strong and positive environment will our people and our organization reach full potential.
Our corporate culture is built on diversity, teamwork, and the creation of an organization that is supportive of an open and accessible work environment – a place where everyone feels valued and respected. We know cooperative and collaborative efforts will take us farther and faster than individual effort alone. At every level, people will have access to management. As a basic part of their job, everyone will be encouraged to raise questions and offer suggestions in a resourceful and constructive manner.
We are committed to objectively and fairly rewarding performance and providing opportunities for job growth and personal achievement. We are committed to employee development in order to enhance the utilization of individual abilities and skills.
We expect each member of the First Interstate family to act with integrity, loyalty and pride. It is the responsibility of each member to exemplify these qualities; to act as an ambassador to our customers and the community at large in order to establish our identity as a progressive, fair and results oriented organization.
FIRST INTERSTATE BANCSYSTEM, INC. WILL CONSISTENTLY STRIVE TO SET ITSELF APART AS A HIGH PERFORMANCE, MULTI-STATE FINANCIAL SERVICES COMPANY. OUR STRATEGIC VISION IS:
In short, our Strategic Vision is to maintain and enhance our leadership in the financial and social fabric of the communities we serve – through a commitment to customer satisfaction, creative management, productive employees, shareholder value, and community involvement. That is First Interstate BancSystem’s Strategic Vision for today…and for tomorrow.
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