News of Riverton, Lander and Fremont County, Wyoming, from the Ranger's award winning journalists.
Forbes ranks First Interstate as one of best banks in United States
Mar 20, 2014 - From staff reports
BILLINGS, Mont. -- First Interstate BancSystem, Inc. 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 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 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 also was considered.
First Interstate Bank is a $7.5 billion financial institution. It operates 74 banking offices, along with online and mobile banking services, throughout Montana, Wyoming and South Dakota.