Change and challenge are constant companions, and the way forward is to meet them with a clear understanding of one’s own principles and aspirations. Since 1968, First Interstate Bank has grown from a single branch in Wyoming to more than 300 banking offices across 14 states, all while navigating shifts in the world around us — economic, political, social, environmental, and more. We’ve done so by focusing our energy on what is well within our power to control.
We may not be able to control the world around us, but we can control how we choose to operate, which values we uphold, and who we are beholden to. As a community bank, First Interstate is deeply invested in the places where we live, work, and play. Our focus has always been and will remain on serving all our stakeholders — employees, clients, communities, and shareholders — to the best of our abilities. One of our core values remains People First, Always, and from it flow our other guiding principles: Seek Greatness, Integrity, Celebrate Success, and Commitment to Community.
In 2023, the First Interstate Bank franchise entered the year transformed by an earlier merger. While significantly expanding a footprint might challenge other organizations to maintain their stakeholder commitments, I am proud to say our efforts in that regard were not diluted and were instead strengthened. We entered new markets by demonstrating our intent to take care of the people within, such as providing new employees with compelling compensation, benefits, and advancement opportunities; generating opportunities to donate time and resources to local nonprofits in need; and identifying places that could benefit from increased investment in community development.
As First Interstate has grown, so has our responsibility to the places in which we operate, and we seek to be a source of strength and stability throughout our footprint.
In early 2023, as high-profile banks failed and the industry was threatened with a crisis of confidence, First Interstate held firm and weathered the storm. By adhering to our long-held principle of prudent risk management and our focus on making decisions based on long-term impacts, we maintained a strong balance sheet and protected shareholder value.
Our steadiness in times of uncertainty, and in all economic climates, has served us and our markets well. As our franchise has expanded over the years, so have our resources and influence. In the following pages, we present our investments in environmental, social, and governance issues and initiatives, and we share the meaningful impacts on our stakeholders. We recognize there is always room for improvement, but with our Mission, Vision, and Values as guides, we are confident we are on the right path.
Sincerely,
Kevin P. Riley
President & CEO
First Interstate BancSystem, Inc.
