# First Interstate BancSystem: AI strategy

Source: https://www.bankingnewsai.com/banks/first-interstate
Last updated: 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.

## At a glance

| Field | Value |
| --- | --- |
| Lead bank | First Interstate Bank |
| Ticker | FIBK |
| Headquarters | Billings, MT |
| Consolidated assets | $25,795 million |
| Federal Reserve rank | 76 |
| Charter | Montana state member bank (Federal Reserve) |

## 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. ([American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai), [Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html), [Fiserv via Amazon press centre](https://press.aboutamazon.com/aws/2026/5/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking))

| Item | What it is | Status | Date | Sources |
| --- | --- | --- | --- | --- |
| Fiserv agentOS | Agentic AI operating system from the bank's core provider; the bank co-created its Commercial Loan Onboarding Agent | Pilot | 2026-05-14 | [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai), [Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html) |
| OpenAI (via Fiserv) | Collaborator on Fiserv's first-party agentOS agents; no direct First Interstate contract disclosed | Indirect | 2026-05-14 | [Fiserv via Amazon press centre](https://press.aboutamazon.com/aws/2026/5/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking), [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai) |
| Amazon Bedrock AgentCore (via Fiserv) | Platform on which Fiserv runs agentOS, per AWS | Indirect | 2026-05-14 | [Fiserv via Amazon press centre](https://press.aboutamazon.com/aws/2026/5/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking) |

## Flagship platform: 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. ([American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html))

## Key points

- 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.

## Timeline

- Aug 21, 2026 — **Jeff Lee named chief operations officer** Ex-Seacoast chief digital officer and chief operations and technology officer; started 14 September 2026. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000088/fibk-20260821.htm), [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000092/fibk-20260914.htm))
- Aug 3, 2026 — **Q2 2026 10-Q: no material change to risk factors** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000084/fibk-20260630.htm))
- Jul 24, 2026 — **Q2 call: data management, no AI named** 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. ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-beats-q2-2026-estimates-as-margin-widens-93CH-4812062))
- Jul 23, 2026 — **Second-quarter 2026 results** Net income $83.9 million, $0.87 per share; $19.5 million Nebraska sale gain; CET1 14.54%. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm))
- Jul 13, 2026 — **Former Microsoft COO joins the board** Kevin Turner (also ex-Walmart CIO) and Matthew Ritter added as directors. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000078/fibk-20260713.htm))
- May 19, 2026 — **Automated treasury-management enrollment in production** Prolific Banking On-Ramp automates onboarding of cash-management customers. ([Prolific Banking (Business Wire)](https://www.businesswire.com/news/home/20260519411891/en/First-Interstate-Bank-Moved-Prolific-Banking-Inc.-On-Ramp-Commercial-Enrollment-Solution-into-Production))
- May 14, 2026 — **AWS release: agentOS runs on Amazon Bedrock AgentCore** 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. ([Fiserv via Amazon press centre](https://press.aboutamazon.com/aws/2026/5/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking))
- May 14, 2026 — **Fiserv release names First Interstate an agentOS pilot bank** First Interstate and Boulder Dam Credit Union run pilots 'with measurable results'; four more banks co-develop the next agents. ([Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html))
- May 14, 2026 — **Fiserv agentOS: commercial loan onboarding agent in pilot** One of six banks co-developing agents with Fiserv and OpenAI. ([American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai))
- May 11, 2026 — **Reuter on technology spending, in an ABA Banking Journal interview** 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. ([ABA Banking Journal](https://bankingjournal.aba.com/2026/05/ceo-qa-organically-grown-banking))
- May 11, 2026 — **Chief operations officer steps down** Kristina Robbins moves to an executive-advisor role through August; the CEO covers COO duties meanwhile. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000041/fibk-20260511.htm))
- Apr 30, 2026 — **Q1 call: AI aimed at 'stare and compare' audit and compliance work** 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. ([earnings call transcript (The Motley Fool)](https://fool.com/earnings/call-transcripts/2026/06/02/fibk-q1-2026-earnings-transcript), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-bancsystem-beats-eps-in-q1-2026-93CH-4650204))
- Apr 30, 2026 — **Q1 2026 call: flatter organisation, data consolidation for AI** 'One clean data source' due early summer; online account opening and Zelle improved. ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html))
- Apr 16, 2026 — **2026 proxy: technology committee and CIO named** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000025/fibk-20260415.htm))
- Apr 10, 2026 — **Sale of 11 rural Nebraska branches completed** About $244 million of deposits transferred. ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html))
- Feb 26, 2026 — **2025 10-K: stand-alone AI risk factor** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm))
- Feb 5, 2026 — **Why First Interstate is shrinking** Branch sales, loan run-off and refocused investment under Reuter. ([American Banker](https://americanbanker.com/news/why-one-regional-bank-is-shrinking-after-years-of-rapid-growth))
- Jan 29, 2026 — **Q4 2025 call: from 14 states to 10** 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. ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/first-interstate-bancsystem-q4-earnings-171201548.html))
- Nov 14, 2025 — **Single chief banking officer** Co-CBO Lorrie Asker steps back; Chris Shepler becomes sole chief banking officer. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041325000168/fibk-20251114.htm))
- Nov 13, 2025 — **Warning on AI search summaries and interest rates** Customers told to check sources and bank rate pages. ([First Interstate Bank](https://www.firstinterstatebank.com/company/news/ai-summaries-interest-rate-confusion))
- Oct 30, 2025 — **Response to activist pressure** Relationship banking focus; exit from indirect auto; leaving markets that do not fit. ([American Banker](https://americanbanker.com/news/how-first-interstate-is-responding-to-activist-pressure))
- Oct 1, 2025 — **CISO fronts the #BanksNeverAskThat scam campaign** 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. ([First Interstate Bank](https://www.firstinterstatebank.com/company/news/banks-never-ask-that-cybersecurity-campaign))
- Feb 28, 2025 — **2024 10-K adds a stand-alone AI risk factor** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041325000022/fibk-20241231.htm))
- Oct 9, 2024 — **Jim Reuter named president and CEO** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041324000125/fibk-20241009.htm), [American Banker](https://www.americanbanker.com/news/jim-reuter-comes-out-of-retirement-to-helm-first-interstate-in-montana))
- Feb 29, 2024 — **2023 10-K: AI inside technology and regulation risk factors** 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. ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041324000016/fibk-20231231.htm))

## Where AI runs

| Use case | What | Status | Detail | Sources |
| --- | --- | --- | --- | --- |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Agentic AI for commercial loan onboarding (Fiserv agentOS) | Pilot | Cuts manual data entry and cycle times across multiple systems. | [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai) |
| [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general) | 'One clean data source' consolidation | Rolling out | Data foundation for AI and other technology initiatives. | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Core-delivered AI with bank-grade controls | Pilot | Fiserv platform controls for policy, governance, auditability and recordkeeping. | [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | AI business-development tool for bankers | Pilot | Pilot tool that helps bankers prepare for client calls. | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Prolific Banking On-Ramp treasury onboarding | In production | Automated enrollment of cash-management customers, reducing manual work and redundant implementation tasks. | [Prolific Banking (Business Wire)](https://www.businesswire.com/news/home/20260519411891/en/First-Interstate-Bank-Moved-Prolific-Banking-Inc.-On-Ramp-Commercial-Enrollment-Solution-into-Production) |
| [Model risk management](https://www.bankingnewsai.com/ai-regulation/by-use-case#model-risk) | AI risk-factor disclosure | In production | 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. | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm) |
| [Customer-facing chatbots](https://www.bankingnewsai.com/ai-regulation/by-use-case#customer-chatbots) | Customer guidance on AI search answers | In production | Explains inaccurate AI-generated rate summaries. | [First Interstate Bank](https://www.firstinterstatebank.com/company/news/ai-summaries-interest-rate-confusion) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | AI for 'stare and compare' audit and compliance work | Announced | 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. | [earnings call transcript (The Motley Fool)](https://fool.com/earnings/call-transcripts/2026/06/02/fibk-q1-2026-earnings-transcript), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-bancsystem-beats-eps-in-q1-2026-93CH-4650204) |
| [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general) | Board Technology, Innovation and Operations Committee | In production | 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. | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000025/fibk-20260415.htm) |
| [Cybersecurity](https://www.bankingnewsai.com/ai-regulation/by-use-case#cybersecurity) | Cyber governance under the CIO and CISO, with AI-enabled attacks named as a threat | In production | 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. | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Model supply chain beneath Fiserv agentOS | Pilot | 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. | [Fiserv via Amazon press centre](https://press.aboutamazon.com/aws/2026/5/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking), [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai) |

## Disclosed numbers

| Measure | Value | As of | Sources |
| --- | --- | --- | --- |
| Q1 2026 net income / diluted EPS | $60.2 million / $0.61 | Apr 29, 2026 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html) |
| CET1 ratio, Q1 2026 | 14.30% | Apr 29, 2026 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html) |
| Total assets | ≈ $26.6 billion | Feb 5, 2026 | [American Banker](https://americanbanker.com/news/why-one-regional-bank-is-shrinking-after-years-of-rapid-growth) |
| Banks co-developing agents with Fiserv | 6 (First Interstate among them) | May 14, 2026 | [American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai) |
| Institutions running agentOS pilots at launch | 2 (First Interstate Bank, Boulder Dam Credit Union) | May 14, 2026 | [Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html) |
| Q2 2026 net income / diluted EPS | $83.9 million / $0.87 | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| CET1 ratio, Q2 2026 | 14.54% | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| Total assets, 30 June 2026 | $25.9 billion | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| States in footprint | 14 → 10 contiguous | Jan 29, 2026 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/first-interstate-bancsystem-q4-earnings-171201548.html) |
| Salaries and wages, Q2 2026 | $64.9 million (Q1 2026: $68.5 million) | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| Total noninterest expense, Q2 2026 | $158.9 million (+0.8% on Q1) | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| Total deposits, 30 June 2026 | $21.4 billion (down 5.3% year on year) | Jun 30, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm) |
| Shares repurchased since August 2025 program began | ≈ 8 million shares, $270 million; authorisation raised to $450 million | Jul 24, 2026 | [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-beats-q2-2026-estimates-as-margin-widens-93CH-4812062) |
| Board Technology, Innovation and Operations Committee meetings in 2025 | 4 | Apr 16, 2026 | [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000025/fibk-20260415.htm) |
| Agents in the agentOS marketplace at launch | 13 (4 Fiserv, 9 third-party partners) | May 14, 2026 | [Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html) |

## Quotes

> "Delivery of an agentic operating system through our core allows us to simply integrate agentic tools into our daily workflows." — Jim Reuter, President and CEO, May 14, 2026 ([American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai))

> "Completed the redesign of our banking organization." — Jim Reuter, President and CEO, Apr 29, 2026 ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html))

> "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." — Jim Reuter, President and CEO, May 14, 2026 ([Fiserv (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html))

> "The On-Ramp solution created efficiencies for our clients, reduced redundant bank implementation tasks and improved our speed to market." — Tim Schmidt, Director of Treasury Management, May 19, 2026 ([Prolific Banking (Business Wire)](https://www.businesswire.com/news/home/20260519411891/en/First-Interstate-Bank-Moved-Prolific-Banking-Inc.-On-Ramp-Commercial-Enrollment-Solution-into-Production))

> "If you don't have a good data source, you'll just make bad decisions faster." — Jim Reuter, President and CEO, Apr 30, 2026 ([earnings call transcript (The Motley Fool)](https://fool.com/earnings/call-transcripts/2026/06/02/fibk-q1-2026-earnings-transcript))

> "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." — Jim Reuter, President and CEO, Apr 30, 2026 ([earnings call transcript (The Motley Fool)](https://fool.com/earnings/call-transcripts/2026/06/02/fibk-q1-2026-earnings-transcript))

> "We have teller lines, we have call centers, and what's your return on investment in those?" — Jim Reuter, President and CEO, May 11, 2026 ([ABA Banking Journal](https://bankingjournal.aba.com/2026/05/ceo-qa-organically-grown-banking))

> "We also made further investment in data management to support our ability to leverage new technology." — Jim Reuter, President and CEO, Jul 24, 2026 ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-beats-q2-2026-estimates-as-margin-widens-93CH-4812062))

> "Scammers rely on urgency and confusion to trick people into sharing sensitive information." — Dale Daugherty, Chief Information Security Officer, Oct 1, 2025 ([First Interstate Bank](https://www.firstinterstatebank.com/company/news/banks-never-ask-that-cybersecurity-campaign))

## Who runs AI

- **Jim Reuter** — President and CEO ([LinkedIn](https://www.linkedin.com/in/jamesareuter)) ([American Banker](https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai), [American Banker](https://americanbanker.com/news/why-one-regional-bank-is-shrinking-after-years-of-rapid-growth))
- **Chris Shepler** — Chief Banking Officer (sole CBO since November 2025) ([LinkedIn](https://www.linkedin.com/in/christophershepler)) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041325000168/fibk-20251114.htm))
- **Jeff Lee** — EVP and Chief Operations Officer (from 14 September 2026; operations, technology and digital background) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000088/fibk-20260821.htm))
- **Kristina Robbins** — Former EVP and Chief Operations Officer (left the role May 2026; executive advisor to the CEO until August 2026) ([LinkedIn](https://www.linkedin.com/in/kris-robbins-12086518)) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000041/fibk-20260511.htm))
- **Kevin Turner** — Director (from July 2026); former Microsoft COO and Walmart CIO ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000078/fibk-20260713.htm))
- **Tim Schmidt** — Director of Treasury Management ([Prolific Banking (Business Wire)](https://www.businesswire.com/news/home/20260519411891/en/First-Interstate-Bank-Moved-Prolific-Banking-Inc.-On-Ramp-Commercial-Enrollment-Solution-into-Production))
- **Lori Meyer** — EVP and Chief Information Officer (interim from June 2023; responsible for cybersecurity policy oversight and reporting to the enterprise risk committee) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000025/fibk-20260415.htm), [First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm))
- **Dale Daugherty** — Chief Information Security Officer (since 2021; reports cyber incidents to the CRO, CIO and Risk Committee) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm), [First Interstate Bank](https://www.firstinterstatebank.com/company/news/banks-never-ask-that-cybersecurity-campaign))
- **Joyce Phillips** — Director; chair of the board Technology, Innovation and Operations Committee (financial services and fintech background) ([First Interstate BancSystem (SEC filings)](https://www.sec.gov/Archives/edgar/data/860413/000086041326000025/fibk-20260415.htm))

## Open AI roles

Data as of Oct 25, 2026 (2026-10-25) · read from the bank's own careers site, re-checked weekly.

No open AI-titled postings on [the careers site](https://fib.wd1.myworkdayjobs.com/en-US/FIBCareers) as of Oct 25, 2026. A snapshot of current openings, not a source: postings close.

## Which AI vendors and fintechs does First Interstate work with?

| Company | What First Interstate uses it for | Status | Category |
| --- | --- | --- | --- |
| [ChatGPT Enterprise (OpenAI)](https://www.bankingnewsai.com/vendors/openai-chatgpt-enterprise) | Piloting a commercial-loan onboarding agent co-created with Fiserv on agentOS, which Fiserv developed with OpenAI. | Pilot | [Enterprise AI assistants](https://www.bankingnewsai.com/ai-tools/enterprise-ai-assistants) |
| [Amazon Bedrock (AWS)](https://www.bankingnewsai.com/vendors/amazon-bedrock) | Piloting a commercial-loan onboarding agent co-created with Fiserv on agentOS, which runs on AWS Bedrock. | Pilot | [Enterprise AI assistants](https://www.bankingnewsai.com/ai-tools/enterprise-ai-assistants) |
| [Fiserv](https://www.bankingnewsai.com/vendors/fiserv) | Commercial Loan Onboarding Agent on agentOS, co-created with Fiserv | Pilot | [Banking platforms](https://www.bankingnewsai.com/ai-tools/banking-platforms) |

Each vendor and fintech page cites the source for the relationship. [AI tools for banks](https://www.bankingnewsai.com/ai-tools) · [fintech and neobank AI dossiers](https://www.bankingnewsai.com/fintech).

## Regulators it answers to

- [Federal Reserve](https://www.bankingnewsai.com/ai-regulation/federal-reserve) — First Interstate Bank is a state member bank; SR 11-7 and SR 23-4 govern the agentic pilot and the Fiserv dependency. See [SR 11-7](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-11-7), [SR 23-4](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-23-4).
- [CFPB](https://www.bankingnewsai.com/ai-regulation/cfpb) — Commercial onboarding automation is outside consumer scope, but any extension to consumer credit brings adverse-action duties. See [ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9)](https://www.bankingnewsai.com/ai-regulation/documents/cfpb-ecoa-regulation-b-adverse-action).
- [FDIC](https://www.bankingnewsai.com/ai-regulation/fdic) — Deposit-insurance supervision and interagency third-party guidance apply to core-delivered AI. See [FDIC FIL-29-2023](https://www.bankingnewsai.com/ai-regulation/documents/fdic-fil-29-2023).

## What the record suggests

### 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.

### 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.

### Shrinking creates budget

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

### 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.

## FAQ

### 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.

## Sources (27)

1. How First Interstate is responding to activist pressure — American Banker, Oct 30, 2025. https://americanbanker.com/news/how-first-interstate-is-responding-to-activist-pressure
2. AI Summaries and Interest Rates: What You Need to Know — First Interstate Bank, Nov 13, 2025. https://www.firstinterstatebank.com/company/news/ai-summaries-interest-rate-confusion
3. Why one regional bank is shrinking after years of rapid growth — American Banker, Feb 5, 2026. https://americanbanker.com/news/why-one-regional-bank-is-shrinking-after-years-of-rapid-growth
4. First Interstate BancSystem Q1 Earnings Call Highlights — MarketBeat (Yahoo Finance), Apr 30, 2026. https://finance.yahoo.com/markets/stocks/articles/first-interstate-bancsystem-q1-earnings-182457679.html
5. Fiserv has co-created AI agents with six banks and OpenAI — American Banker, May 14, 2026. https://americanbanker.com/news/fiserv-has-co-created-ai-agents-with-six-banks-and-openai
6. Fiserv Launches agentOS: The Operating System for Agentic AI in Banking — Fiserv (GlobeNewswire), May 14, 2026. https://www.globenewswire.com/news-release/2026/05/14/3294727/0/en/fiserv-launches-agentos-the-operating-system-for-agentic-ai-in-banking.html
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. https://www.sec.gov/Archives/edgar/data/860413/000086041326000011/fibk-20251231.htm
8. First Interstate BancSystem Q4 Earnings Call Highlights — MarketBeat (Yahoo Finance), Jan 29, 2026. https://finance.yahoo.com/news/first-interstate-bancsystem-q4-earnings-171201548.html
9. First Interstate BancSystem, Inc. Reports Second Quarter Earnings (Form 8-K, Exhibit 99.1) — First Interstate BancSystem (SEC filings), Jul 23, 2026. https://www.sec.gov/Archives/edgar/data/860413/000086041326000081/fibk-20260630x8kpr.htm
10. First Interstate BancSystem Form 8-K (Item 5.02: Co-Chief Banking Officer transition) — First Interstate BancSystem (SEC filings), Nov 18, 2025. https://www.sec.gov/Archives/edgar/data/860413/000086041325000168/fibk-20251114.htm
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12. First Interstate BancSystem Form 8-K (Item 5.02: appointment of directors) — First Interstate BancSystem (SEC filings), Jul 16, 2026. https://www.sec.gov/Archives/edgar/data/860413/000086041326000078/fibk-20260713.htm
13. First Interstate BancSystem Form 8-K (Item 5.02: appointment of Chief Operations Officer) — First Interstate BancSystem (SEC filings), Aug 21, 2026. https://www.sec.gov/Archives/edgar/data/860413/000086041326000088/fibk-20260821.htm
14. First Interstate BancSystem Form 8-K (Item 5.02: Chief Operations Officer employment agreement) — First Interstate BancSystem (SEC filings), Sep 16, 2026. https://www.sec.gov/Archives/edgar/data/860413/000086041326000092/fibk-20260914.htm
15. First Interstate Bank Moved Prolific Banking, Inc. On-Ramp Commercial Enrollment Solution into Production — Prolific Banking (Business Wire), May 19, 2026. https://www.businesswire.com/news/home/20260519411891/en/First-Interstate-Bank-Moved-Prolific-Banking-Inc.-On-Ramp-Commercial-Enrollment-Solution-into-Production
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23. Earnings call transcript: First Interstate BancSystem beats EPS in Q1 2026 — Investing.com, Apr 30, 2026. https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-bancsystem-beats-eps-in-q1-2026-93CH-4650204
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26. Earnings call transcript: First Interstate beats Q2 2026 estimates as margin widens — Investing.com, Jul 24, 2026. https://investing.com/news/transcripts/earnings-call-transcript-first-interstate-beats-q2-2026-estimates-as-margin-widens-93CH-4812062
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