Magazine : Archives : 1st Quarter 2023
Waiting Game
First Interstate BancSystem has long been a regular acquirer, closing eight deals since 2014, but the Billings, Montana-based company is taking a bit of a breather this year. In 2022, First Interstate closed on and integrated its largest deal to date, for Sioux Falls, South Dakota-based Great Western Bancorp, adding $13 billion to its balance sheet and 170 branches to its network. While $31.3 billion First Interstate is a seasoned acquirer, CEO Kevin Riley says pursuing another acquisition straightaway is not a priority in 2023. “We have to prove to our shareholders that we’ve got [Great Western] integrated, we’re producing...
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