First Interstate BancSystem competitors
and the alternatives

Last updated Oct 19, 2026 · 8 peers · 64 sources cited

Who are First Interstate BancSystem's competitors, and what are the alternatives?

First Interstate's 2025 10-K, filed February 26, 2026, says there is 'significant competition among commercial banks' in its markets. It also lists savings and loans, credit unions, financial technology companies, internet banks, consumer finance companies, brokerages, mortgage banking companies, insurers, securities firms, mutual funds, government agencies and major retailers. It ran 290 banking offices in 12 states in February 2026 and has since cut to 10 contiguous states. FDIC data for June 30, 2025 show where its rivals are strongest. In Montana, its home state, it ranks second with $6.2 billion of deposits in 43 offices, behind Glacier ($8.0 billion) and ahead of Stockman Bank, Wells Fargo and U.S. Bank. In Wyoming it ranks first, ahead of Wells Fargo and Glacier. In South Dakota it ranks fifth, behind Citibank, Wells Fargo, The Bancorp and Pathward. In Idaho and Oregon it ranks ninth, behind U.S. Bank, Wells Fargo, Umpqua and others. In Colorado, where CEO Jim Reuter sees opportunity after PNC bought FirstBank, it ranks 26th. Its own 10-K says some competitors have 'higher lending limits' and that many have 'substantially greater resources to invest in technological improvements'. Non-bank rivals appear in its list as fintechs and internet banks: Chime had 10.4 million active members in June 2026, and Block lists banks among Square's competitors.[1][2][3][4][5][6][7][8][9][10][11]

Data as of Oct 19, 2026 · First Interstate profile updated Oct 13, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown

What does First Interstate say about its competition?

"There is significant competition among commercial banks in our market areas. We also compete with other providers of financial services that actively engage in providing various types of loans and other financial services to their clients, such as: savings and loan associations; credit unions; financial technology companies; internet banks; consumer finance companies; brokerage firms; mortgage banking companies; insurance companies; securities firms; mutual funds; government agencies; and major retailers."[1]

"To remain competitive in this congested industry, we continue to develop our omni-channel experience across our website, social media, and email, in addition to our offline channels, such as brick and mortar banking offices. Some of our competitors have greater resources and, as such, may have higher lending limits and may offer other services that we do not provide. We generally compete on the basis of service and responsiveness to client needs, available loan and deposit products, rates of interest charged on loans, rates of interest paid for deposits, and the availability and pricing of services such as trust, employee benefit, investment, and insurance services."[1]

From the risk factors: "Many of our competitors have substantially greater resources to invest in technological improvements. We may not be able to effectively implement new technology-facilitated products and services or be successful in marketing these products and services to our clients." And on AI: "To effectively make necessary investments in AI, we may need to expend significant financial, human, and other resources. As a result, we may not be able to effectively implement AI in a timely way which could adversely impact our operations. Our ability to compete with financial institutions which have greater resources to invest in such technological improvements may be adversely impacted." (2025 Form 10-K, filed February 26, 2026.)[1]

Who competes with First Interstate in each of its businesses?

Business lineCompetitorTypeWhy it competes
Home region: Montana, Wyoming and the DakotasGlacier BancorpBankFirst in Montana by deposits at June 30, 2025, with $8.0 billion in 63 offices against First Interstate's $6.2 billion in 43, and third in Wyoming; both banks are headquartered in Montana.[3][4]
Home region: Montana, Wyoming and the DakotasStockman Bank of MontanaBankThird in Montana by deposits at June 30, 2025, with $5.6 billion in 45 offices, just behind First Interstate.[3]
Home region: Montana, Wyoming and the DakotasWells FargoBankFourth in Montana ($3.3 billion) and second in Wyoming ($2.3 billion) by deposits at June 30, 2025.[3][4]
Home region: Montana, Wyoming and the DakotasU.S. BankBankFifth in Montana ($3.0 billion) and first in Idaho and Oregon by deposits at June 30, 2025.[3][6][7]
Home region: Montana, Wyoming and the DakotasNational Bank Holdings (NBH Bank)BankFourth in Wyoming by deposits at June 30, 2025, with $1.3 billion; its 2UniFi digital platform targets small businesses.[4][12]
Commercial banking in the Northwest and ColoradoColumbia Banking System (Umpqua Bank)BankUmpqua Bank was second in Oregon by deposits at June 30, 2025, with $16.8 billion, against First Interstate's $2.5 billion; Columbia sits in First Interstate's 2025 compensation peer group.[7][13]
Commercial banking in the Northwest and ColoradoBanner BankBankSeventh in Oregon by deposits at June 30, 2025, with $3.0 billion, two places ahead of First Interstate; its new origination system lifted commercial originations 85% in the second quarter of 2026.[7][14]
Commercial banking in the Northwest and ColoradoZions BancorporationBankFifth in Idaho by deposits at June 30, 2025, with $2.6 billion, ahead of First Interstate's $1.6 billion.[6]
Commercial banking in the Northwest and ColoradoFirstBank (PNC)BankFirstBank was second in Colorado by deposits at June 30, 2025, with $22.2 billion; PNC converted its 95 branches and 780,000 customers in June 2026. Reuter, a former FirstBank executive, calls Colorado 'a better opportunity' after the deal; First Interstate ranks 26th there.[8][15][9]
Commercial banking in the Northwest and ColoradoUMB FinancialBankIts Heartland acquisition took UMB from eight to 13 states, including Colorado and the Mountain West; UMB sits in First Interstate's 2025 compensation peer group.[16][13]
Retail deposits, checking and everyday digital bankingJPMorgan ChaseBankThird in Colorado by deposits at June 30, 2025, with $22.1 billion, and sixth in Idaho; 74.6 million active digital customers in 2025.[8][6][17]
Retail deposits, checking and everyday digital bankingBank of AmericaBankThird in Oregon ($14.5 billion) by deposits at June 30, 2025, and a national bank of the kind First Interstate's 10-K says has more to invest in technology.[7][1]
Retail deposits, checking and everyday digital bankingChimeFintechAn internet bank and fintech of the kinds First Interstate's 10-K lists; Chime's 10-K claims a cost advantage over traditional banks by avoiding branches, and it had 10.4 million active members at June 30, 2026.[1][18][10]
Retail deposits, checking and everyday digital bankingCash App (Block)FintechBlock's 2025 10-K lists banks among Cash App's competitors in peer-to-peer payments and debit cards; Cash App had 59 million monthly transacting actives in December 2025.[11]
Small business banking, treasury and paymentsSquare (Block)Payments companyBlock's 10-K lists 'banks that provide payment processing, checking, savings, loans, and payroll' among Square's competitors; First Interstate automated treasury-management enrollment with Prolific Banking in May 2026.[11][19]
Small business banking, treasury and paymentsNational Bank Holdings (2UniFi)BankIts 2UniFi platform for small businesses drew over 1,300 user applications by April 2026, with weekly applications up from about 40 to nearly 400.[12]
Small business banking, treasury and paymentsBank of AmericaBankCalls itself the number one small business lender in the US, citing FDIC data, serving 4 million small businesses.[20]

How do the AI and digital offerings of First Interstate's competitors compare?

First Interstate first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

CompanyAI or digital offeringOn the record (our profiles)Latest dated AI move
First Interstate BancSystem (this page)Fiserv agentOS pilot and the 'one clean data source' project[21][22]Index 51.3 (#56); 11 use cases, 5 in productionJeff Lee named chief operations officer (Aug 21, 2026)[23][24]
Glacier BancorpNot disclosedIndex 2 (#117); 10 use cases, 7 in productionGlacier Bank invests in the Cari tokenised-deposit network (Sep 2, 2026)[25]
Stockman Bank of MontanaNot disclosedNo profileNot disclosed
Wells FargoFargo virtual assistant: more than 1 billion interactions (March 2026)[26]Index 88.8 (#7); 16 use cases, 13 in productionQ3 2026 call: AI agents in code, marketing, cyber, underwriting (Oct 13, 2026)[27][28]
U.S. BankIn-house tools from the AI Center of Excellence[29][30][31][32]Index 81.3 (#18); 18 use cases, 16 in productionVenkatachari: from proving AI to industrializing it (Oct 7, 2026)[33]
National Bank Holdings (NBH Bank)Not disclosedIndex 2 (#115); 8 use cases, 6 in production8-K: $4.0 million impairment on a FinTech partnership investment (Oct 1, 2026)[34]
Columbia Banking System (Umpqua Bank)AI agents answering seven client messages per human response (September 2026)[35]Index 63.3 (#45); 16 use cases, 15 in productionBarclays conference: AI answers most client messages (Sep 15, 2026)[35]
Banner BankBanner Virtual Assistant, available 24/7[36]Index 36.7 (#80); 12 use cases, 9 in productionPacific Financial acquisition completed (Sep 1, 2026)[37]
Zions BancorporationGemini-based enterprise AI platform; 56% of staff using generative AI[38][39]Index 59.6 (#48); 16 use cases, 10 in productionQ2 2026 10-Q lists AI among emerging-technology risks (Aug 6, 2026)[40][41]
FirstBank (PNC)PNC AI factory[42][43][44][45]Index 68.2 (#38); 14 use cases, 8 in productionHead of ATM Banking hired with an AI mandate (Sep 25, 2026)[46]
UMB FinancialMachine learning 'deployed across the whole organization', per the CEO (April 2026)[47]Index 47.9 (#61); 10 use cases, 9 in production'Playing with the big boys' (Aug 20, 2026)[48]
JPMorgan ChaseSmart Cash AI cash tool in a targeted pilot (October 2026)[49]Index 89 (#6); 15 use cases, 8 in productionQ3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026)[50][49][51]
Bank of AmericaErica virtual assistant: more than 24.6 million clients helped[20]Index 97.3 (#1); 18 use cases, 16 in productionTreasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties (Oct 13, 2026)[52][53][54]
ChimeJade, an in-app AI financial partner available to some members[55]8 use cases, 6 in productionAgreement to acquire Stride Bank (Sep 8, 2026)[56]
Cash App (Block)Moneybot consumer agent: over 1 million weekly engaged accounts (June 30, 2026)[57]7 use cases, 6 in productionQ2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[57]
Square (Block)Managerbot, an AI business agent for Square sellers[58]7 use cases, 6 in productionQ2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[57]
National Bank Holdings (2UniFi)Not disclosedIndex 2 (#115); 8 use cases, 6 in production8-K: $4.0 million impairment on a FinTech partnership investment (Oct 1, 2026)[34]

Who should look beyond First Interstate, and where?

If you areLook atWhy
Customers who want an AI virtual assistant in the banking appBank of America (Erica) or Wells Fargo (Fargo)First Interstate has disclosed no customer-facing AI assistant; its 2026 roadmap covers interface, payments and account opening. Erica helps more than 24.6 million clients, and Fargo passed 1 billion interactions in March 2026.[59][20][26]
People in Arizona, Kansas or Nebraska who used First Interstate's branchesZions, UMB or a national bankFirst Interstate exited Arizona and Kansas and sold its rural Nebraska branches, cutting its footprint from 14 states to 10. Zions holds $6.8 billion of Arizona deposits, and UMB runs branches across 13 states after Heartland.[2][22][60][16]
Customers who want a branchless, app-only checking accountChimeFirst Interstate is a branch-based bank. Chime's model avoids branches and ATMs, it had 10.4 million active members at June 30, 2026, and some members can use Jade, its AI financial partner.[1][18][10][55]
Colorado businesses that want a bank with a large local deposit basePNC (FirstBank), Wells Fargo or JPMorgan ChaseFirst Interstate ranks 26th in Colorado by deposits, with $0.8 billion in 19 offices (June 30, 2025). Wells Fargo holds $32.7 billion, FirstBank, now PNC, $22.2 billion and Chase $22.1 billion.[8][15]
Consumers who want a bank-issued credit card from their bankA national card issuerBanking Dive reported in September 2025 that First Interstate had partnered out consumer credit cards and exited indirect auto lending under Reuter, to focus on relationship banking.[9][61]

Where does First Interstate rank by deposits in its main states, and who is bigger?

FDIC Summary of Deposits data as of June 30, 2025: deposits booked in each bank's offices in the state, summed by institution, national banks included. Figures are rounded.

StateFirst Interstate deposits (offices)RankLarger banks in the state
Montana$6.2 billion (43)2nd of 49Glacier $8.0 billion[3]
Wyoming$2.8 billion (15)1st of 46None. Next: Wells Fargo $2.3 billion, Glacier $1.4 billion, NBH Bank $1.3 billion[4]
South Dakota$3.4 billion (46)5th of 81Citibank $522.3 billion (2 offices), Wells Fargo $347.4 billion (30 offices), The Bancorp $7.8 billion (1 office), Pathward $6.0 billion (1 office)[5]
Oregon$2.5 billion (33)9th of 37U.S. Bank $21.8 billion, Umpqua $16.8 billion, Bank of America $14.5 billion, Wells Fargo $12.5 billion and others, including Banner $3.0 billion[7]
Iowa$2.1 billion (45)11th of 266Principal Bank $8.4 billion, U.S. Bank $8.0 billion, Wells Fargo $7.7 billion and others[62]
Idaho$1.6 billion (20)9th of 31U.S. Bank $6.7 billion, Wells Fargo $6.5 billion, Glacier $3.2 billion, D. L. Evans $2.8 billion, Zions $2.6 billion and others[6]
Colorado$0.8 billion (19)26th of 123Wells Fargo $32.7 billion, FirstBank $22.2 billion, JPMorgan Chase $22.1 billion, U.S. Bank $18.0 billion and others[8]

How has First Interstate's footprint changed, and what does it mean for its rivals?

Under CEO Jim Reuter, who arrived in November 2024 from FirstBank in Colorado, First Interstate has been shrinking to grow. It exited Arizona and Kansas, sold 11 rural Nebraska branches with about $244 million of deposits in April 2026, closed single branches in North Dakota and Minnesota, and went from 14 states to 10. It also exited indirect auto lending and partnered out consumer credit cards. Total assets fell to $25.9 billion at June 30, 2026.[63][2][22][9][64]

The effect is to concentrate on markets where it ranks high, Montana, Wyoming and South Dakota, and to compete in growth markets such as Colorado against much larger banks. Reuter told Banking Dive he found 'a bank that was maybe a mile wide and an inch deep'. Its 2025 shareholder letter lists 'a competitive technology offering' among its strengths.[3][4][5][9][59]

Who are First Interstate's biggest competitors?

In Montana, Glacier holds more deposits, with Stockman Bank, Wells Fargo and U.S. Bank behind First Interstate; in Wyoming it leads Wells Fargo, Glacier and NBH Bank (FDIC, June 30, 2025). In Oregon and Idaho, U.S. Bank, Wells Fargo, Umpqua, Zions and Banner are larger. Its 10-K adds credit unions, fintechs, internet banks and major retailers.[3][4][7][6][1]

Is Glacier Bancorp a competitor of First Interstate?

Yes, the most direct one. Glacier was first in Montana by deposits at June 30, 2025, with $8.0 billion against First Interstate's $6.2 billion, and third in Wyoming, where First Interstate leads. On AI disclosure First Interstate scores 51.3 and Glacier 2; Glacier invested in the Cari tokenized-deposit network in September 2026.[3][4][25]

Is Chime a competitor of First Interstate?

In deposits, yes by category: First Interstate's 10-K lists financial technology companies and internet banks among its competitors, and Chime's 10-K says its digital-first model gives it a cost advantage over traditional banks. Chime had 10.4 million active members at June 30, 2026. Neither company names the other.[1][18][10]

Who competes with First Interstate in Colorado?

Wells Fargo ($32.7 billion of Colorado deposits), FirstBank ($22.2 billion, converted to PNC in June 2026), JPMorgan Chase ($22.1 billion) and U.S. Bank ($18.0 billion) lead the state; First Interstate ranks 26th with $0.8 billion (FDIC, June 30, 2025). Its CEO has said Colorado became a better opportunity after PNC's purchase of FirstBank.[8][15][9]

What are alternatives to First Interstate for small business banking?

Bank of America calls itself the number one US small business lender, citing FDIC data, and Square sells payments, point-of-sale software and banking to sellers. National Bank Holdings' 2UniFi platform targets small businesses and drew over 1,300 applications by April 2026. First Interstate automated treasury-management onboarding with Prolific Banking in May 2026.[20][11][12][19]

Does First Interstate still operate in Arizona, Kansas and Nebraska?

No longer in Arizona or Kansas, which it exited, and it sold 11 rural Nebraska branches with about $244 million of deposits in April 2026. On its January 2026 call the bank said these moves take it from 14 states to 10 contiguous states.[2][22]

First Interstate vs Wells Fargo: how do they compare in the Mountain West?

First Interstate leads Wells Fargo in Wyoming ($2.8 billion against $2.3 billion of deposits) and in Montana ($6.2 billion against $3.3 billion), per FDIC data for June 30, 2025. Wells Fargo is larger in Idaho and Colorado and offers Fargo, a virtual assistant that passed 1 billion interactions in March 2026; First Interstate discloses no customer assistant.[4][3][6][8][26]

Is National Bank Holdings a competitor of First Interstate?

In Wyoming and in small-business banking, yes. NBH Bank was fourth in Wyoming by deposits at June 30, 2025, with $1.3 billion, where First Interstate leads with $2.8 billion. NBH's 2UniFi platform for small businesses drew over 1,300 applications by April 2026; NBH guided about $22 million of 2UniFi expense for 2026.[4][12]

Who competes with First Interstate in Oregon and Idaho?

In Oregon, U.S. Bank ($21.8 billion of deposits), Umpqua ($16.8 billion), Bank of America, Wells Fargo, JPMorgan Chase, KeyBank, Banner and WaFd are larger; First Interstate is ninth with $2.5 billion. In Idaho, U.S. Bank, Wells Fargo, Glacier, D. L. Evans and Zions lead, and First Interstate is ninth with $1.6 billion (FDIC, June 30, 2025).[7][6]

What does First Interstate's 10-K say about competing on technology?

It says many competitors have 'substantially greater resources to invest in technological improvements', that the bank may not implement new technology-facilitated products effectively, and that making the necessary AI investments may take significant financial and human resources. It counters with an omni-channel push across website, social media, email and branches.[1]

Is U.S. Bank a competitor of First Interstate?

Yes, across most of its states. U.S. Bank was first in Oregon ($21.8 billion) and Idaho ($6.7 billion), second in Iowa ($8.0 billion), fourth in Colorado ($18.0 billion) and fifth in Montana ($3.0 billion) by deposits at June 30, 2025. First Interstate's 10-K says some competitors have greater resources and higher lending limits.[7][6][62][8][3][1]

Is Stockman Bank a competitor of First Interstate?

Yes, in Montana. Stockman Bank of Montana was third in the state by deposits at June 30, 2025, with $5.6 billion in 45 offices, close behind First Interstate's $6.2 billion in 43. Glacier was first with $8.0 billion.[3]

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    First Interstate BancSystem (SEC filings) · Feb 26, 2026
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    MarketBeat (Yahoo Finance) · Jan 29, 2026
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    FDIC · Jun 30, 2025
  4. FDIC Summary of Deposits, Wyoming branches, deposits aggregated by institution (June 30, 2025)
    FDIC · Jun 30, 2025
  5. FDIC Summary of Deposits, South Dakota branches, deposits aggregated by institution (June 30, 2025)
    FDIC · Jun 30, 2025
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    FDIC · Jun 30, 2025
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    FDIC · Jun 30, 2025
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    FDIC · Jun 30, 2025
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    Banking Dive · Sep 19, 2025
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    Chime via SEC EDGAR · Mar 6, 2026
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    PYMNTS · Oct 13, 2026
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    Wells Fargo · Oct 13, 2026
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