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First Interstate BancSystem sees YOY increase in Q3 EPS

Billings, Mont.-based First Interstate BancSystem Inc. reported third-quarter net income of $49.1 million, or 76 cents per share, up from $41.4 million, or 71 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the third quarter was 79 cents per share.

The net interest margin was 3.93% in the third quarter, compared to 3.88% in the year-ago quarter.

Total loans at the end of the quarter stood at $9.10 billion, compared to $8.52 billion a year ago.

Total deposits at the close of the quarter were $11.80 billion, compared to $10.85 billion as of Sept. 30, 2018.

Provision for loan losses in the third quarter was $2.6 million, compared to $2.0 million during the same period in 2018. Third-quarter net charge-offs were $1.8 million, down from $2.5 million in the year-ago period.