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First Interstate Bank: Is First Interstate a Good Bank?

Homer Scott, Sr., the company’s founder, felt that people and organisations should not be judged based on their words, but rather on the basis of their actions. We have followed a clear set of guiding principles that are clearly defined in our Mission, Vision, and Values from the time Homer Scott, Sr. bought the first bank in 1968 through our expansion over four decades.

Financial products and services of the highest quality, excellent customer service and a strong and positive corporate culture are the cornerstones of our long-term business strategy. We want to maintain our position as a market leader by adhering to the underlying concepts and values that have fueled our development and success and by adhering to our community banking model.


When Homer Scott, Sr. purchased the Bank of Commerce in Sheridan, Wyoming, in 1968, First Interstate Bank was born. A decade later, he acquired two more financial institutions and started six more from scratch in the state of Montana as well as Wyoming. Scott organised the company as a corporation in 1971.

First Interstate Bank

In 1984, First Interstate Bancorp, a multi-state bank holding company based in Los Angeles, California, signed a franchise arrangement with the company to use the First Interstate Bank name and emblem. Wells Fargo did not purchase First Interstate Bank, but rather First Interstate Bancorp, in 1996. An agreement was reached whereby the Montana group was able to keep the well-known First Interstate brand and emblem. The First Interstate brand and emblem are still trademarked in all 50 states as of 2017.


The First Interstate Center, a 20-story building in Billings, Montana, is owned and occupied by First Interstate Bank, which owns a 50% stake in the property. The state’s tallest structure, at 272 feet (83 metres), was completed in 1985.

The Credit Card Programmes of the First Interstate Bank

Every time you make a purchase, you’ll get one reward point.
FirstRewards is a local loyalty programme that allows you to redeem points for just about everything you can think of (tailored to reward customers in Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming)
You can rest easy knowing that your points never expire and can be used whenever you choose.

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An agreement to collaborate with First Interstate Bank, based in Billings, Montana, has been reached.
Mark Borrecco, CEO and President, sends this message:

I’m delighted to share some noteworthy developments with you. The Billings, Montana-based First Interstate Bank and Great Western Bank have come to terms on a joint venture. Our agreement states that Great Western Bank will become First Interstate Bank in the second calendar quarter of 2022, which is when we expect it to happen. This link will take you to a more in-depth press release detailing the deal.

At GWB, we take great pride in making the lives of our workers, customers, and communities better. I firmly believe that our dedication may now reach new heights thanks to our association with First Interstate. A values-based community bank, First Interstate (NASDAQ: FIBK) serves clients and communities throughout Idaho, Montana, Oregon, South Dakota, and Washington.

First Interstate Bank

The alignment of our strategies and cultures was one of the most important considerations in going into this cooperation. It’s hard to tell the difference between First Interstate and us when it comes to community banking. They have a long history of providing high-quality, competitive financial services to their clients and making a beneficial impact on the communities in which they operate. These values are exemplified through the First Interstate BancSystem Foundation, which fosters a culture of corporate giving that is both innovative and customer-focused. Because of our shared values and a commitment to local banking, the union of our two organisations is a win-win situation for everyone involved, including our customers and workers.

So, what does this mean for you, and how do you feel about it? Customers and accounts will be unaffected immediately, and no action on your side is required at this time. First Interstate will provide you with information regarding your accounts and new First Interstate Bank products and services as we come closer to the conversion. “Business as usual” is likely to continue until the deal is completed in the first quarter of 2022.

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Great Western Bank has been committed to enhancing the lives of our customers and communities for more than 80 years. This commitment is anchored on our capacity to listen, adapt, and respond to the ever-evolving world of banking. We are fully committed to this goal by cooperating with First Interstate. Our Company is now in a new phase, and I want to thank you for your continuing support and business.

Are You Familiar With the Fate of First Interstate Bank?

2017. We were able to continue using the First Interstate name and emblem in all 50 states because of a franchise arrangement. First Interstate Bank became Bank of the Cascades in August.

What Bank Did First Interstate Bank Acquire?

Bank of the West

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We are delighted to welcome Great Western Bank to the First Interstate family, five months after announcing our intention to merge. Today, on February 1, 2022, the First Interstate/Great Western Bank merger was finalised.

Why Should You Bank With First Interstate?

It was founded in 1916 and had grown to 2,218 employees at 150 locations by December 2021.

First Interstate Bank

First Interstate Bank is rated A+ in terms of health.

How Many First Interstate Bank Locations Are There?


Type Public
Founded Sheridan, Wyoming, United States (1968)
Headquarters First Interstate Center Billings, Montana, USA
Number of locations 150
Key people David L. Jahnke (Chairman) Kevin P. Riley (President and CEO)


First Interstate Bank became a publicly traded business on the Nasdaq under the ticker FIBK in 2010 after completing an initial public offering. The Mountain West Financial Corp. and the Absarokee Bancorporation were acquired by First Interstate in 2014 and 2015. Financial products and services of the highest quality, excellent customer service and a strong and positive corporate culture are the cornerstones of our long-term business strategy.

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