Form 8-K FIRST INTERSTATE BANCSYS For: Mar 10
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (date of earliest event reported): March 10, 2016
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FIRST INTERSTATE BANCSYSTEM, INC.
(Exact name of registrant as specified in its charter)
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Montana | 001-34653 | 81-0331430 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File No.) | (IRS Employer Identification No.) | ||
401 North 31st Street, Billings, MT
(Address of principal executive offices)
(406) 255-5390
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a- 12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 10, 2016, the Registrant announced the appointment of Mr. Stephen W. Yose, age 56, as its Executive Vice President and Chief Credit Officer. Mr. Yose will assume his position with the Registrant on or about April 4, 2016. Under the terms of an employment agreement signed March 10, 2016, Mr.Yose is entitled to annual base compensation of $265,000, a hiring bonus of $50,000, receipt of the time restricted common shares valued at $200,000, vesting one-third on each annual anniversary of the grant date, participation in the Registrant’s incentive bonus plans, with the amount of bonuses based upon achievement of company-wide goals, and additional benefits as are customarily offered to the Registrant’s executives.
Mr. Yose has over 30 years of banking experience. Since 1989 he has held various positions with KeyCorp, a $95 billion financial services and bank holding company headquartered in Cleveland, OH, and parent company of KeyBank National Association ("KeyBank"). Mr. Yose most recently served as an Executive Vice President and Credit Executive for KeyBank in Seattle, WA since May 2015, responsible for credit approval for the Pacific Region, Rocky Mountain Region Agribusiness Region and Native American Financial Services. Prior to that, Mr. Yose was an Executive Vice President, Credit Risk Leader and Regional Credit Executive from March 2012 to May 2015, responsible for credit approval, underwriting, portfolio management and credit quality for the Washington Region, Oregon/Alaska Region, Rocky Mountain Region, Agribusiness Region and Native American Financial Services. From July 2002 to March 2012, Mr. Yose was an Executive Vice President and Regional Credit Executive for KeyBank in Bellevue, WA, responsible for credit approval, underwriting, portfolio management and credit quality for the Northwest Region, Rocky Mountain Region, National Agribusiness Region, Western National Commercial Bank and Native American Financial Services.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit 99.1 - Press Release dated March 10, 2016 announcing the appointment of Stephen W. Yose as Executive Vice President and Chief Credit Officer of the Registrant.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 10, 2016
FIRST INTERSTATE BANCSYSTEM, INC. | ||
By: | /s/ KEVIN P. RILEY | |
Kevin P. Riley | ||
President and Chief Executive Officer | ||
First Interstate BancSystem, Inc. Announces Appointment of Chief Credit Officer
Company Release: March 10, 2016
(Billings, MT) First Interstate BancSystem, Inc. (NASDAQ: FIBK) today announced the appointment of Stephen W. Yose as Executive Vice President and Chief Credit Officer. He will begin his new position at First Interstate Bank on April 4, 2016.
Mr. Yose has more than 30 years of banking experience, primarily as a credit executive and officer for KeyCorp, where he has worked since 1989. He most recently served as Executive Vice President, Credit Executive for KeyBank NA in Seattle, Washington. First Interstate President and CEO, Kevin Riley, said the company is pleased to welcome Mr. Yose to its executive team. “Steve brings an extensive background in credit administration and management to First Interstate. His experience, knowledge and perspective will be very valuable as we continue our focus on diversified, quality loan growth and strengthening our loan portfolio.”
A native of western Wyoming, Mr. Yose said he is happy to be returning to his western roots. “I grew up on a cattle ranch south of Big Piney, Wyoming and have a great love and appreciation for this region of our country. First Interstate Bank is widely recognized in Montana, Wyoming and South Dakota as a leader in community banking services. I am excited to use my knowledge and expertise to help First Interstate continue to grow and serve its customers as the premier community bank in our region.” During most of his tenure at KeyBank, Mr. Yose has been responsible for credit administration, credit approval, underwriting, portfolio management and credit quality for several KeyBank regions in the Western U.S. including the Rocky Mountain Region, (Utah, Idaho, and Colorado), and the Pacific Region (Washington, Oregon, and Alaska). He also served as KeyBank’s national specialist for Agribusiness and Native American Financial Services. Mr. Yose is an honors graduate of Brigham Young University where he received a Bachelor of Science degree in Agricultural Economics and a Master of Science degree in Agribusiness Management. He is also an honors graduate of Pacific Coast Banking School at the University of Washington and completed the KeyBank Weatherhead School of Management program for Executives at Case Western Reserve University.
First Interstate BancSystem, Inc. is a financial services holding company, headquartered in Billings, Montana, with $8.7 billion in assets as of December 31, 2015. It is the parent company of First Interstate Bank, a community bank operating banking offices, including online and mobile banking services, throughout Montana, Wyoming, and South Dakota. As a recognized leader in community banking services with 28 consecutive years of profitability, First Interstate is driven by strong family and corporate values, as well as a commitment to long-term organic growth, exemplary customer service, exceeding customer expectations through its products and services and supporting, with leadership and resources, the communities it serves.
First Interstate BancSystem, Inc.
Investor Relations
Marcy Mutch, +1 406-255-5322
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