First Interstate BancSystem (FIBK) Misses Q4 EPS by 4c

First Interstate BancSystem (NASDAQ: FIBK) reported Q4 EPS of $0.61, $0.04 worse than the analyst estimate of $0.65.

• Fourth quarter loan growth of $62.2 million, or 3.3% annualized. The increase was primarily driven by commercial and commercial real estate loans; offset by seasonal declines in agriculture loans.
• Asset quality improved in the fourth quarter of 2017, with a $7.9 million, or 8.7%, decrease in non-performing assets and a $22.2 million decrease in criticized loans, as compared to the third quarter of 2017.
• Net interest margin ratio of 3.71% in the fourth quarter of 2017 remained consistent with the prior quarter and reflects a nine basis point increase from the same period in the prior year.
• Quarterly cash dividends increased 16.7%, from $0.24 to $0.28 per share of common stock in January 2018.
• A decrease in income tax expense of $2.2 million was recorded during the fourth quarter of 2017, primarily related to the re-measurement of deferred tax balances.

For earnings history and earnings-related data on First Interstate BancSystem (FIBK) click here.

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