During his 40-plus-year career at First Interstate, Ed Garding served in a variety of roles, including management trainee, branch manager, regional president, chief risk officer, and CEO to name a few. He was recently profiled in Montana Banker Magazine. Our gratitude to the Montana Bankers Association for permission to reprint this feature.
Ed Garding stands as a testament to the enduring spirit of community banking. He recently reflected on his journey, the milestones that shaped his career, and the wisdom gleaned from over 40 years in the industry.
Ed knew he wanted to be a banker from the time he started college. “I admired the respectability that community bankers had, and I wanted to be one of those. After I graduated, I applied at the bank and wouldn’t give up until they hired me. I went there every Friday for seven weeks before they finally did hire me.”
His career was punctuated by moments of profound impact and joy. “Handing checks to local non-profits to help support the community was always a great feeling,” he shared. One particular event stands out as one of the most memorable, when in 2010 First Interstate went public. “We went to New York City, Wall Street, to convince people to buy stock in First Interstate. We spent a full week there, and then toured nine other cities, meeting investors and private equity people and we got to ring the bell on Wall Street. That whole process was quite the experience.”
The most surprising changes along the way, according to Ed, included the evolution of the delivery channels in customer banking, “We went from face-to-face and mail banking to phone, internet, ATM’s and now the most used form, mobile banking. Also, there was no such thing as credit cards when I first started in banking. I used to work with the Singer sewing machine guy who went door-to-door selling them. I’d process the loans for the sewing machines and those were the first loan I was allowed to make. The last loan I processed was for a Boeing 747.”
When asked if he would have done anything differently, Ed’s response was immediate: “Absolutely not. I enjoyed every single day of it. Like I’ve always said, “If you do what you love, it’s not work.”
Ed is most proud that First Interstate became a training company. “One of my best accomplishments was finding and hiring good people, then developing them into good bankers. A lot of the people we helped develop are still in the industry.”
For those entering the banking world, Ed’s advice is this: “First, hard work trumps talent so show up early, stay late and work hard. Second, never sit in the back row. And finally, I would encourage bankers at all levels to get involved in the industry. Be willing to give back some time, for MBA, ABA, etc., and get involved in community organizations. Make this a wonderful learning experience by learning about the industry with the Montana Bankers Association. Start by serving on a committee and work your way up, building relationships and encouraging others along the way.”
Ed has retired from community banking but is still involved in his community. He sits on four non-profit boards around Billings, as well as the FHLB board. He also enjoys following his three grandchildren as they pursue their interests in sports and music.
Ed Garding’s story isn’t just about banking; it’s about building a legacy—one that’s rooted in community, driven by innovation, and dedicated to growth. His story is an inspiring reminder that in the world of numbers and transactions, the human element remains the most valuable asset.