Business Context and Reporting Period
Company: First Interstate BancSystem, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 15, 2025
Event: Redemption of outstanding subordinated notes and termination of the related material definitive agreement.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or general liquidity metrics. The specific financial data disclosed relates to debt obligations:
- Redeemed Instrument: 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030.
- Redemption Price: 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date.
- Remaining Debt: $125,000,000 aggregate principal amount of 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035.
Material Changes
On August 15, 2025, the Company fully redeemed all outstanding 5.25% Subordinated Notes due 2030. Consequently, the Company has been released from its obligations under the First Supplemental Indenture governing these notes. The Base Indenture remains in effect for the remaining 7.625% Subordinated Notes due 2035.
Guidance, Outlook, and Risks
Management Commentary: The Company notified holders of the redemption election on July 3, 2025, and irrevocably deposited sufficient funds with the Trustee to satisfy the redemption price.
Risks and Contingencies: The filing does not disclose new risks or contingencies beyond the standard execution of the debt redemption. The termination of the First Supplemental Indenture removes the specific obligations associated with the 2030 notes.
Investor Verification Checklist
- Verify the exact principal amount of the 5.25% Notes redeemed (not explicitly stated in this text, only the price formula).
- Confirm the total cash outflow required for the redemption, including accrued interest.
- Review the terms of the remaining $125 million 7.625% Notes due 2035 to understand future debt service obligations.
- Check subsequent filings for the impact of this redemption on the Company's capital structure and regulatory capital ratios.