Bank forecasts bottom in average earning assets next quarter while expanding share repurchase program by $450M.
First Interstate BancSystem increased its share buyback authorization to $450M, signaling confidence in capital levels. Management expects average earning assets to hit a trough in Q3 2026 amid ongoing balance-sheet optimization.
The bank reported nine straight quarters of net interest margin expansion and declining deposit costs in Q2 2026. Criticized loans also fell meaningfully, reinforcing stability in credit quality.
No immediate market reaction was disclosed following the earnings call update.