First Interstate Shares Rise in IPO Debut

By Beacon Staff

NEW YORK – Shares of regional bank First Interstate BancSystem are rising in their IPO debut after the company raised $145 million Tuesday night.

Shares are up $1.50, or 10.3 percent, to $16 in morning trading.

First Interstate BancSystem Inc. is the first U.S. bank to go public since Encore Bancshares Inc. in July 2007.

The Billings, Mont. bank has locations in Montana, Wyoming and South Dakota.

First Interstate’s shares are trading on the Nasdaq Stock Market under the symbol “FIBK.”