First Interstate Completes IPO

Last week First Interstate BancSystem, Inc. announced that the SEC had approved its Initial Public Offering to sell 10,000,000 shares of Class A common stock. In a release issued Monday afternoon, the IPO has been completed, along with an additional 1.5 million shares of Class A common stock pursuant to the full exercise of the underwriters' option to purchase such shares in the offering.

The statement indicates that First Interstate, which is now trading on the NASDAQ as FIBK, received net proceeds of approximately $153.3 million from the sale of its shares, after deducting the underwriting discount and estimated offering expenses.

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