First Interstate BancSystem:
the AI strategy, sourced.

Last updated Oct 25, 2026 · 25 dated moves · 27 sources · open AI roles as of Oct 25, 2026

A Rocky Mountain bank deliberately shrinking after a decade of acquisitions, whose CEO is consolidating data into 'one clean source' to support AI and is piloting a Fiserv-built agentic AI tool for commercial loan onboarding.

How is First Interstate using AI?

First Interstate BancSystem, the Billings, Montana parent of First Interstate Bank with about $26 billion of assets (a footprint it is consolidating from 14 states to 10 contiguous ones), is the rare regional bank that is both shrinking on purpose and piloting agentic AI. President and CEO Jim Reuter, the former FirstBank of Colorado chief who arrived in late 2024, has sold a dozen branches in Arizona and Kansas, exited indirect auto lending, outsourced the consumer credit card, sold 11 rural Nebraska branches, run off transactional loans and, in the first quarter of 2026, completed a redesign of the banking organisation into 'a flatter, more streamlined model', all in the name of relationship banking and 'disciplined organic growth' after activist HoldCo Asset Management attacked the bank's acquisition record. The technology thread runs alongside: Reuter told investors the bank has been working toward 'one clean data source' to support initiatives including AI, due to wrap up in early summer 2026, and that improvements to online account opening and Zelle have produced 'positive results'. In May 2026 Fiserv named First Interstate one of six banks it co-developed AI agents with on its new agentOS platform, built with OpenAI; the bank is piloting an agent for commercial loan onboarding that Reuter says has cut manual data entry and cycle times, delivered through the core so agentic tools 'simply integrate' into daily workflows. First-quarter 2026 net income was $60.2 million, or $0.61 per share, with a 14.30% CET1 ratio and about $84 million of buybacks. Fiserv's own launch release names First Interstate as one of two institutions already running agentOS pilots, with 'measurable results' in commercial loan onboarding, and quotes Reuter on 'automating loan onboarding directly to our Fiserv core'. On the same first-quarter call Reuter said the bank is also piloting AI-related tools including a business-development tool that helps bankers prepare for client calls, and in May 2026 it put Prolific Banking's On-Ramp automated treasury-management enrollment into production. The 2025 10-K carries a stand-alone AI risk factor: 'ultimately, we may offer products or services incorporating AI', making the necessary AI investments may take 'significant financial, human, and other resources', and rivals with greater resources may out-invest it. Second-quarter 2026 net income was $83.9 million, or $0.87 per share, including a $19.5 million gain on the Nebraska branch sale, with CET1 at 14.54%. The leadership bench has turned over: chief operations officer Kristina Robbins was moved to an advisory role in May 2026, and on 14 September Jeff Lee, a former chief digital officer and chief operations and technology officer at Seacoast Banking Corporation of Florida, took over as chief operations officer; in July the board added Kevin Turner, a former Microsoft chief operating officer and Walmart CIO. The bank also warns customers that AI search summaries often misstate interest rates. First Interstate Bank is a Montana state member bank supervised by the Federal Reserve; no AI budget has been disclosed and the agent remains a pilot.

Lead bank

First Interstate Bank

Assets (lead bank, Jun 30, 2026)

$26 billion

Charter

Montana state member bank (Federal Reserve)

Headquarters

Billings, MT

Flagship platform

Fiserv agentOS pilot and the 'one clean data source' project

AI leadership

Jim Reuter · Chris Shepler · Jeff Lee · Kristina Robbins · Kevin Turner · Tim Schmidt · Lori Meyer · Dale Daugherty · Joyce Phillips

  • Piloting a Fiserv agentOS AI agent for commercial loan onboarding, co-created with Fiserv and OpenAI; CEO reports reduced manual data entry and cycle times.
  • 'One clean data source' project to support AI and other technology initiatives, targeted for completion in early summer 2026.
  • Deliberate shrinkage: branch sales in Arizona, Kansas and Nebraska, exit from indirect auto and credit cards, loan run-off, flatter organisation completed Q1 2026.
  • Activist HoldCo Asset Management pressed the board to swear off acquisitions; management says the focus is disciplined organic growth.
  • Q1 2026 net income $60.2 million ($0.61 per share); CET1 14.30%; about $84 million of buybacks.
  • Customer education on AI search summaries misstating interest rates (November 2025).
  • Other AI pilots: a business-development tool that helps bankers prepare for client calls (Q1 2026 call); automated treasury-management enrollment (Prolific On-Ramp) in production since May 2026.
  • 2025 10-K: stand-alone AI risk factor (the bank may offer AI products; investment needs may be significant; rivals may out-invest it; AI regulation and IP law are shifting).
  • New chief operations officer Jeff Lee (from 14 September 2026; ex-Seacoast chief digital officer and COO/technology officer) replaces Kristina Robbins; former Microsoft COO Kevin Turner joined the board in July 2026.
  • Q2 2026 net income $83.9 million ($0.87 per share); CET1 14.54%; total assets $25.9 billion at 30 June 2026.
  • No head of AI, chief AI officer or chief data officer is named in the 2025 10-K, the 2026 proxy or the 2026 8-K filings. Technology sits with chief information officer Lori Meyer, security with chief information security officer Dale Daugherty (in the role since 2021); its chief risk officer, Nathan Jones, left for WesBanco in April 2026.
  • Reuter on the 30 April 2026 call: 'stare and compare' jobs in audit, compliance and other areas are 'ripe for AI to make you more efficient', and without a good data source 'you'll just make bad decisions faster'. The data project was due to finish in early summer 2026.
  • The stand-alone AI risk factor first appeared in the 10-K for 2024, filed 28 February 2025; the 10-K for 2023 mentioned AI only inside technology and regulation risk factors. The 2025 10-K repeats it, and the Q2 2026 10-Q reports no material change to risk factors and does not mention AI.
  • The Q2 2026 call (24 July) named neither AI nor agents: Reuter cited 'further investment in data management to support our ability to leverage new technology' and staffing aligned to the new operating model. Quarterly salaries and wages fell to $64.9 million from $68.5 million.
  • Board oversight: the Technology, Innovation and Operations Committee, chaired by director Joyce Phillips, met four times in 2025 and reviews technology and innovation investment proposals. The proxy's risk-oversight map also lists model risk and third-party risk.
  • The bank's AI supply chain is indirect: Fiserv's agentOS was built with OpenAI and runs on Amazon Bedrock AgentCore, according to AWS and American Banker. No patents assigned to First Interstate were found.

What is Fiserv agentOS pilot and the 'one clean data source' project?

First Interstate co-created an AI agent for commercial loan onboarding with its core provider Fiserv on the agentOS platform, which Fiserv built with OpenAI on AWS Bedrock and launched in May 2026 with 'bank-grade controls' for policy, governance, auditability and recordkeeping. The agent addresses a process that 'straddles multiple systems' and is 'super manual', and CEO Jim Reuter says it has already reduced manual data entry and cycle times: 'Delivery of an agentic operating system through our core allows us to simply integrate agentic tools into our daily workflows.' Underneath it, the bank has been consolidating its data into 'one clean data source' to support technology initiatives including AI, a project expected to finish in early summer 2026, alongside improvements to online account opening and Zelle.[5][4]

What AI partnerships and patents does First Interstate have?

First Interstate's one public AI partnership runs through its core provider Fiserv: it co-created a commercial loan onboarding agent on Fiserv's agentOS and has piloted it since May 2026. AWS and American Banker say agentOS was developed with OpenAI and runs on Amazon Bedrock AgentCore, so OpenAI and AWS reach the bank only through Fiserv; no direct contract is disclosed. A Google Patents search for First Interstate Bank and First Interstate BancSystem found no granted patents or published applications assigned to the bank. No AI budget, model provider or data-platform vendor is public.[5][6][25]

ItemWhat it isStatusDate
Fiserv agentOSAgentic AI operating system from the bank's core provider; the bank co-created its Commercial Loan Onboarding AgentPilot2026-05-14[5][6]
OpenAI (via Fiserv)Collaborator on Fiserv's first-party agentOS agents; no direct First Interstate contract disclosedIndirect2026-05-14[25][5]
Amazon Bedrock AgentCore (via Fiserv)Platform on which Fiserv runs agentOS, per AWSIndirect2026-05-14[25]

What has First Interstate done on AI, and when?

First Interstate's dated AI moves by year2024Feb 292023 10-K: AI inside technology and regulat…Oct 09Jim Reuter named president and CEO2025Feb 282024 10-K adds a stand-alone AI risk factorOct 01CISO fronts the #BanksNeverAskThat scam cam…Oct 30Response to activist pressureNov 13Warning on AI search summaries and interest…Nov 14Single chief banking officer2026Jan 29Q4 2025 call: from 14 states to 10Feb 05Why First Interstate is shrinkingFeb 262025 10-K: stand-alone AI risk factorApr 10Sale of 11 rural Nebraska branches completedApr 162026 proxy: technology committee and CIO na…Apr 30Q1 2026 call: flatter organisation, data co…Apr 30Q1 call: AI aimed at 'stare and compare' au…May 11Chief operations officer steps downMay 11Reuter on technology spending, in an ABA Ba…May 14Fiserv agentOS: commercial loan onboarding…May 14Fiserv release names First Interstate an ag…May 14AWS release: agentOS runs on Amazon Bedrock…May 19Automated treasury-management enrollment in…Jul 13Former Microsoft COO joins the boardJul 23Second-quarter 2026 resultsJul 24Q2 call: data management, no AI namedAug 03Q2 2026 10-Q: no material change to risk fa…Aug 21Jeff Lee named chief operations officer
Figure 1 · First Interstate's AI moves by year, from the timeline below. Filled boxes are the current year. Every entry cites its source in the list at the end of the page.
  • Aug 21, 2026

    Jeff Lee named chief operations officer[13][14]

    Ex-Seacoast chief digital officer and chief operations and technology officer; started 14 September 2026.

  • Aug 3, 2026

    Q2 2026 10-Q: no material change to risk factors[27]

    The quarterly report refers back to the 2025 10-K risk factors, including the AI risk factor, and contains no AI discussion of its own.

  • Jul 24, 2026

    Q2 call: data management, no AI named[26]

    Reuter cites further data-management investment to leverage new technology, staffing aligned with the operating model and improved digital engagement; repurchases reach about 8 million shares, $270 million, since August 2025.

  • Jul 23, 2026

    Second-quarter 2026 results[9]

    Net income $83.9 million, $0.87 per share; $19.5 million Nebraska sale gain; CET1 14.54%.

  • Jul 13, 2026

    Former Microsoft COO joins the board[12]

    Kevin Turner (also ex-Walmart CIO) and Matthew Ritter added as directors.

  • May 19, 2026

    Automated treasury-management enrollment in production[15]

    Prolific Banking On-Ramp automates onboarding of cash-management customers.

  • May 14, 2026

    AWS release: agentOS runs on Amazon Bedrock AgentCore[25]

    According to AWS, Fiserv runs agentOS on Amazon Bedrock AgentCore with OpenAI as a collaborator; First Interstate Bank is named as one of two pilot clients, across commercial loan onboarding and operational reporting.

  • May 14, 2026

    Fiserv release names First Interstate an agentOS pilot bank[6]

    First Interstate and Boulder Dam Credit Union run pilots 'with measurable results'; four more banks co-develop the next agents.

  • May 14, 2026

    Fiserv agentOS: commercial loan onboarding agent in pilot[5]

    One of six banks co-developing agents with Fiserv and OpenAI.

  • May 11, 2026

    Reuter on technology spending, in an ABA Banking Journal interview[24]

    Argues boards should judge technology investment against the bank's overall goals, as they do teller lines and call centres, and says banks should watch customer data for what people actually do.

  • May 11, 2026

    Chief operations officer steps down[11]

    Kristina Robbins moves to an executive-advisor role through August; the CEO covers COO duties meanwhile.

  • Apr 30, 2026

    Q1 call: AI aimed at 'stare and compare' audit and compliance work[22][23]

    Reuter says those jobs are 'ripe for AI', the data project (due early summer) has not slowed AI work, and a business-development tool is in pilot.

  • Apr 30, 2026

    Q1 2026 call: flatter organisation, data consolidation for AI[4]

    'One clean data source' due early summer; online account opening and Zelle improved.

  • Apr 16, 2026

    2026 proxy: technology committee and CIO named[21]

    Five standing board committees including Technology, Innovation and Operations (four meetings in 2025); Lori Meyer is a named executive as CIO; the risk-oversight map lists model risk, third-party risk and technology investment.

  • Apr 10, 2026

    Sale of 11 rural Nebraska branches completed[4]

    About $244 million of deposits transferred.

  • Feb 26, 2026

    2025 10-K: stand-alone AI risk factor[7]

    The bank may offer AI products, AI investment may need significant resources, flawed or biased AI (its own or third parties') could bring liability; AI rules and IP law are evolving.

  • Feb 5, 2026

    Why First Interstate is shrinking[3]

    Branch sales, loan run-off and refocused investment under Reuter.

  • Jan 29, 2026

    Q4 2025 call: from 14 states to 10[8]

    Arizona and Kansas exited, Nebraska branches sold, single North Dakota and Minnesota branches to close; Q4 net income $108.8 million including a $62.7 million sale gain.

  • Nov 14, 2025

    Single chief banking officer[10]

    Co-CBO Lorrie Asker steps back; Chris Shepler becomes sole chief banking officer.

  • Nov 13, 2025

    Warning on AI search summaries and interest rates[2]

    Customers told to check sources and bank rate pages.

  • Oct 30, 2025

    Response to activist pressure[1]

    Relationship banking focus; exit from indirect auto; leaving markets that do not fit.

  • Oct 1, 2025

    CISO fronts the #BanksNeverAskThat scam campaign[20]

    Chief information security officer Dale Daugherty: 'Scammers rely on urgency and confusion'; the bank cites FTC data of $12.5 billion in US scam losses in 2024.

  • Feb 28, 2025

    2024 10-K adds a stand-alone AI risk factor[19]

    New risk factor says the bank may offer AI products, AI investment may need significant resources, and flawed or biased AI could bring legal and reputational harm; AI also listed in the forward-looking statement risk categories and as a tool for attackers.

  • Oct 9, 2024

    Jim Reuter named president and CEO[17][18]

    Effective 1 November 2024; he succeeded Kevin Riley after retiring from FirstBank Holding in Colorado in March 2024. Employment agreement has a 60-month initial term.

  • Feb 29, 2024

    2023 10-K: AI inside technology and regulation risk factors[16]

    Names AI and machine learning among technologies rivals are investing in, and says AI, including large language models, will bring evolving rules and intellectual-property questions; no stand-alone AI risk factor yet.

Where does First Interstate use AI today?

First Interstate's AI systems on the status ladder from announced to in productionANNOUNCEDPILOTROLLING OUTIN PRODUCTIONAgentic AI for commercial loan onboarding (…'One clean data source' consolidationCore-delivered AI with bank-grade controlsAI business-development tool for bankersProlific Banking On-Ramp treasury onboardingAI risk-factor disclosureCustomer guidance on AI search answersAI for 'stare and compare' audit and compli…Board Technology, Innovation and Operations…Cyber governance under the CIO and CISO, wi…Model supply chain beneath Fiserv agentOS
Figure 2 · Where AI runs at First Interstate, and how far along. 5 of 11 named systems are in production; the rest are rolling out, piloted or announced. Status is as described in the cited source at its date.
SystemWhat it doesStatusUse case
Agentic AI for commercial loan onboarding (Fiserv agentOS)[5]Cuts manual data entry and cycle times across multiple systems.PilotGenerative & agentic AI
'One clean data source' consolidation[4]Data foundation for AI and other technology initiatives.Rolling outAI governance (general)
Core-delivered AI with bank-grade controls[5]Fiserv platform controls for policy, governance, auditability and recordkeeping.PilotThird-party & vendor AI
AI business-development tool for bankers[4]Pilot tool that helps bankers prepare for client calls.PilotGenerative & agentic AI
Prolific Banking On-Ramp treasury onboarding[15]Automated enrollment of cash-management customers, reducing manual work and redundant implementation tasks.In productionThird-party & vendor AI
AI risk-factor disclosure[7]Stand-alone 10-K risk factor: AI the bank develops or uses may be flawed, and deficient, biased or privacy-compromising AI (its own or third parties') could bring competitive, legal and reputational harm; AI regulation and IP rules are evolving.In productionModel risk management
Customer guidance on AI search answers[2]Explains inaccurate AI-generated rate summaries.In productionCustomer-facing chatbots
AI for 'stare and compare' audit and compliance work[22][23]Reuter says document-comparison jobs in audit, compliance and other functions are 'ripe for AI'; work continues alongside the data project and no vendor or tool is named.AnnouncedGenerative & agentic AI
Board Technology, Innovation and Operations Committee[21]One of five standing committees; chaired by Joyce Phillips, met four times in 2025 and reviews technology and innovation investment, while the proxy risk map lists model and third-party risk.In productionAI governance (general)
Cyber governance under the CIO and CISO, with AI-enabled attacks named as a threat[7]The 10-K places the CIO and CISO on the incident response team, reporting to the Risk Committee, and warns attackers may use AI and machine learning for automated, targeted attacks.In productionCybersecurity
Model supply chain beneath Fiserv agentOS[25][5]agentOS was developed with OpenAI and runs on Amazon Bedrock AgentCore, according to AWS and American Banker; the bank has disclosed no direct contract with either.PilotThird-party & vendor AI

Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.

Treasury tools compared across banks: AI in bank treasury management.

Which AI vendors and fintechs does First Interstate work with?

CompanyWhat First Interstate uses it forStatusCategory
ChatGPT Enterprise (OpenAI)Piloting a commercial-loan onboarding agent co-created with Fiserv on agentOS, which Fiserv developed with OpenAI.PilotEnterprise AI assistants
Amazon Bedrock (AWS)Piloting a commercial-loan onboarding agent co-created with Fiserv on agentOS, which runs on AWS Bedrock.PilotEnterprise AI assistants
FiservCommercial Loan Onboarding Agent on agentOS, co-created with FiservPilotBanking platforms

Each vendor and fintech page cites the source for the relationship, and vendor pages list products, pricing and other bank customers. Compare AI tools for banks by category, or read the fintech and neobank AI dossiers.

What has First Interstate disclosed in numbers?

MetricValueAs of
Q1 2026 net income / diluted EPS$60.2 million / $0.61[4]Apr 29, 2026
CET1 ratio, Q1 202614.30%[4]Apr 29, 2026
Total assets≈ $26.6 billion[3]Feb 5, 2026
Banks co-developing agents with Fiserv6 (First Interstate among them)[5]May 14, 2026
Institutions running agentOS pilots at launch2 (First Interstate Bank, Boulder Dam Credit Union)[6]May 14, 2026
Q2 2026 net income / diluted EPS$83.9 million / $0.87[9]Jun 30, 2026
CET1 ratio, Q2 202614.54%[9]Jun 30, 2026
Total assets, 30 June 2026$25.9 billion[9]Jun 30, 2026
States in footprint14 → 10 contiguous[8]Jan 29, 2026
Salaries and wages, Q2 2026$64.9 million (Q1 2026: $68.5 million)[9]Jun 30, 2026
Total noninterest expense, Q2 2026$158.9 million (+0.8% on Q1)[9]Jun 30, 2026
Total deposits, 30 June 2026$21.4 billion (down 5.3% year on year)[9]Jun 30, 2026
Shares repurchased since August 2025 program began≈ 8 million shares, $270 million; authorisation raised to $450 million[26]Jul 24, 2026
Board Technology, Innovation and Operations Committee meetings in 20254[21]Apr 16, 2026
Agents in the agentOS marketplace at launch13 (4 Fiserv, 9 third-party partners)[6]May 14, 2026

“Delivery of an agentic operating system through our core allows us to simply integrate agentic tools into our daily workflows.”[5]

Jim Reuter · President and CEO · May 14, 2026

“Completed the redesign of our banking organization.”[4]

Jim Reuter · President and CEO · Apr 29, 2026

“Through a Commercial Loan Onboarding Agent pilot, we have been able to see early results—automating loan onboarding directly to our Fiserv core and reducing manual data entry and cycle times.”[6]

Jim Reuter · President and CEO · May 14, 2026

“The On-Ramp solution created efficiencies for our clients, reduced redundant bank implementation tasks and improved our speed to market.”[15]

Tim Schmidt · Director of Treasury Management · May 19, 2026

“If you don't have a good data source, you'll just make bad decisions faster.”[22]

Jim Reuter · President and CEO · Apr 30, 2026

“We have, as all banks do a lot of jobs that are stare and compare in audit, compliance, different parts of the bank. And those are ripe for AI to make you more efficient.”[22]

Jim Reuter · President and CEO · Apr 30, 2026

“We have teller lines, we have call centers, and what's your return on investment in those?”[24]

Jim Reuter · President and CEO · May 11, 2026

“We also made further investment in data management to support our ability to leverage new technology.”[26]

Jim Reuter · President and CEO · Jul 24, 2026

“Scammers rely on urgency and confusion to trick people into sharing sensitive information.”[20]

Dale Daugherty · Chief Information Security Officer · Oct 1, 2025

Who runs AI at First Interstate?

Jim ReuterLinkedIn ↗

President and CEO[5][3]

Chris SheplerLinkedIn ↗

Chief Banking Officer (sole CBO since November 2025)[10]

Jeff Lee

EVP and Chief Operations Officer (from 14 September 2026; operations, technology and digital background)[13]

Kristina RobbinsLinkedIn ↗

Former EVP and Chief Operations Officer (left the role May 2026; executive advisor to the CEO until August 2026)[11]

Kevin Turner

Director (from July 2026); former Microsoft COO and Walmart CIO[12]

Tim Schmidt

Director of Treasury Management[15]

Lori Meyer

EVP and Chief Information Officer (interim from June 2023; responsible for cybersecurity policy oversight and reporting to the enterprise risk committee)[21][7]

Dale Daugherty

Chief Information Security Officer (since 2021; reports cyber incidents to the CRO, CIO and Risk Committee)[7][20]

Joyce Phillips

Director; chair of the board Technology, Innovation and Operations Committee (financial services and fintech background)[21]

What AI roles is First Interstate hiring for?

Data as of · 0 AI-titled postings · read from First Interstate's own careers site, re-checked weekly

No open AI-titled postings on First Interstate's careers site as of Oct 25, 2026. A snapshot of current openings, not a source: postings close. Compare with other banks on which banks are hiring for AI.

Which regulators govern First Interstate's AI?

The regulators around First Interstate's AIFirst InterstateFederal Reserve2 documentsCFPB1 documentFDIC1 document
Figure 3 · The regulatory perimeter. Each authority links to its tracker page; the number is how many of its documents this page cites. Solid lines are the bank's direct supervisors; dashed lines are consumer, market and global standard-setters that reach it through its activities.
AuthorityWhy it matters hereDocuments
Federal ReserveFirst Interstate Bank is a state member bank; SR 11-7 and SR 23-4 govern the agentic pilot and the Fiserv dependency.SR 11-7
SR 23-4
CFPBCommercial onboarding automation is outside consumer scope, but any extension to consumer credit brings adverse-action duties.ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9)
FDICDeposit-insurance supervision and interagency third-party guidance apply to core-delivered AI.FDIC FIL-29-2023

Side by side: SR 11-7 vs SR 26-2 · PRA SS1/23 vs SR 26-2 · MAS AI Risk Management Guidelines vs SR 26-2 · OCC vs CFPB on AI lending · all comparisons.

What does the public record suggest about First Interstate's AI strategy?

Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.

01

Core-delivered agents are the community-bank path

First Interstate shows how a mid-size bank gets agentic AI without a lab: through its core provider, with the vendor's controls as the governance baseline.

02

Data first, then agents

Consolidating to one clean data source before scaling the pilot is the right order and the part examiners will ask about.

03

Shrinking creates budget

Branch sales and business exits free expense for technology; the bank should say how much is redirected.

04

Concentration risk sits with Fiserv

Core, agent platform and model provider in one chain is convenient and a single point of failure; SR 23-4 due diligence should cover OpenAI and AWS beneath Fiserv.

Where does the First Interstate record go deeper?

2 topic pages under this profile, each answering one question from the same sourced record.

How does First Interstate compare with its peers?

Its peer group on this site, by business model and size:

Does First Interstate Bank use AI?

Yes, in pilot. First Interstate co-created an AI agent for commercial loan onboarding with Fiserv on its agentOS platform, built with OpenAI, and is piloting it; CEO Jim Reuter says it has reduced manual data entry and cycle times. The bank is also consolidating its data into one clean source to support AI, piloting an AI tool that helps bankers prepare for client calls, and has automated treasury-management enrollment with Prolific Banking. Its 10-K treats AI as a stand-alone risk factor.

Who runs operations and technology at First Interstate?

Jeff Lee became executive vice president and chief operations officer on 14 September 2026, bringing experience in operations, technology, digital banking, information security, marketing and business transformation, most recently as chief digital officer and then chief operations and technology officer at Seacoast Banking Corporation of Florida. He succeeded Kristina Robbins, who left the COO role in May 2026. CEO Jim Reuter fronts the Fiserv agentOS pilot.

Why is First Interstate getting smaller?

Under CEO Jim Reuter the bank is refocusing on relationship banking and disciplined organic growth after years of acquisitions: it sold branches in Arizona, Kansas and Nebraska, exited indirect auto lending, outsourced its credit card and let transactional loans run off, while activist HoldCo Asset Management pressed it to stop acquiring.

Who leads AI at First Interstate?

No head of AI, chief AI officer or chief data officer is named in First Interstate's 10-K, 2026 proxy or 8-K filings. CEO Jim Reuter fronts the effort and announced the Fiserv agentOS pilot in May 2026. Technology sits with chief information officer Lori Meyer, who became interim CIO in June 2023; chief information security officer Dale Daugherty has held the security role since 2021. Jeff Lee, formerly Seacoast's chief digital officer, became chief operations officer on 14 September 2026. Board oversight sits with the Technology, Innovation and Operations Committee, chaired by director Joyce Phillips.

What does First Interstate say about AI in its SEC filings?

The 10-K for 2024, filed on 28 February 2025, added a stand-alone AI risk factor, repeated in the 2025 10-K filed on 26 February 2026. It says the bank may offer AI products, that AI investment may need significant financial and human resources, that larger rivals may out-invest it, and that biased or inaccurate AI could bring legal and reputational harm. The cyber section warns attackers may use AI and machine learning. The Q2 2026 10-Q reports no material change to risk factors and does not mention AI.

Which AI technology partners does First Interstate use?

Publicly, one: its core provider Fiserv. First Interstate co-created a commercial loan onboarding agent on Fiserv's agentOS, launched on 14 May 2026, and pilots it. According to AWS and American Banker, agentOS was developed with OpenAI and runs on Amazon Bedrock AgentCore, but the bank has not named either as a direct vendor. Prolific Banking's On-Ramp automates treasury enrollment and is not described as AI. A Google Patents search for the bank's names found no patents assigned to it.

  1. How First Interstate is responding to activist pressure
    American Banker · Oct 30, 2025
  2. AI Summaries and Interest Rates: What You Need to Know
    First Interstate Bank · Nov 13, 2025
  3. Why one regional bank is shrinking after years of rapid growth
    American Banker · Feb 5, 2026
  4. First Interstate BancSystem Q1 Earnings Call Highlights
    MarketBeat (Yahoo Finance) · Apr 30, 2026
  5. Fiserv has co-created AI agents with six banks and OpenAI
    American Banker · May 14, 2026
  6. Fiserv Launches agentOS: The Operating System for Agentic AI in Banking
    Fiserv (GlobeNewswire) · May 14, 2026
  7. First Interstate BancSystem, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
    First Interstate BancSystem (SEC filings) · Feb 26, 2026
  8. First Interstate BancSystem Q4 Earnings Call Highlights
    MarketBeat (Yahoo Finance) · Jan 29, 2026
  9. First Interstate BancSystem, Inc. Reports Second Quarter Earnings (Form 8-K, Exhibit 99.1)
    First Interstate BancSystem (SEC filings) · Jul 23, 2026
  10. First Interstate BancSystem Form 8-K (Item 5.02: Co-Chief Banking Officer transition)
    First Interstate BancSystem (SEC filings) · Nov 18, 2025
  11. First Interstate BancSystem Form 8-K (Item 5.02: Chief Operations Officer transition)
    First Interstate BancSystem (SEC filings) · May 13, 2026
  12. First Interstate BancSystem Form 8-K (Item 5.02: appointment of directors)
    First Interstate BancSystem (SEC filings) · Jul 16, 2026
  13. First Interstate BancSystem Form 8-K (Item 5.02: appointment of Chief Operations Officer)
    First Interstate BancSystem (SEC filings) · Aug 21, 2026
  14. First Interstate BancSystem Form 8-K (Item 5.02: Chief Operations Officer employment agreement)
    First Interstate BancSystem (SEC filings) · Sep 16, 2026
  15. First Interstate Bank Moved Prolific Banking, Inc. On-Ramp Commercial Enrollment Solution into Production
    Prolific Banking (Business Wire) · May 19, 2026
  16. First Interstate BancSystem, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2023
    First Interstate BancSystem (SEC filings) · Feb 29, 2024
  17. First Interstate BancSystem Form 8-K (Item 5.02: appointment of James A. Reuter as President and CEO)
    First Interstate BancSystem (SEC filings) · Oct 9, 2024
  18. Jim Reuter comes out of retirement to helm First Interstate in Montana
    American Banker · Oct 10, 2024
  19. First Interstate BancSystem, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2024
    First Interstate BancSystem (SEC filings) · Feb 28, 2025
  20. First Interstate Joins ABA for #BanksNeverAskThat Campaign
    First Interstate Bank · Oct 1, 2025
  21. First Interstate BancSystem, Inc. 2026 Proxy Statement (DEF 14A)
    First Interstate BancSystem (SEC filings) · Apr 16, 2026
  22. FIBK Q1 2026 Earnings Transcript
    earnings call transcript (The Motley Fool) · Apr 30, 2026
  23. Earnings call transcript: First Interstate BancSystem beats EPS in Q1 2026
    Investing.com · Apr 30, 2026
  24. CEO Q&A: Organically grown banking
    ABA Banking Journal · May 11, 2026
  25. Fiserv Launches agentOS: The Operating System for Agentic AI in Banking (according to AWS)
    Fiserv via Amazon press centre · May 14, 2026
  26. Earnings call transcript: First Interstate beats Q2 2026 estimates as margin widens
    Investing.com · Jul 24, 2026
  27. First Interstate BancSystem, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
    First Interstate BancSystem (SEC filings) · Aug 3, 2026

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