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First Interstate BancSystem history
First Interstate BancSystem company history timeline
Scott incorporated the company in Montana in 1971 and over the next 10 years acquired two more banks and established six de novo banks in Montana and Wyoming.
In 1972, Frank King retired and Clifford Tweter became chairman of Western's board of directors.
The Western Bancorporation Mortgage Company was founded in 1974.
In 1978, United California Bank's president, Joseph J. Pinola, joined Western Bancorporation as chairman and CEO. He inherited a decentralized collection of banks, many of which had their own operating procedures and marketing strategies.
In 1979, the Western Bancorp Venture Capital Company was formed, further diversifying the financial operations of Western Bancorporation.
In June of 1981, the company changed its name to First Interstate Bancorp.
By 1981, our company had grown to 10 branches.
Spoor Behrins Campbell and Young, a financial planning company, was also acquired in 1983.
In 1984, First Interstate branched into merchant banking with the purchase of Continental Illinois Ltd.; equipment leasing with the acquisition of the Commercial Alliance Corporation of New York; and broadened its mortgage banking activities by acquiring the Republic Realty Mortgage Corporation.
In 1984, the company entered into a franchise agreement with First Interstate Bancorp, a multi-state bank holding company headquartered in Los Angeles, California, to use the First Interstate Bank name and logo.
In January, 1985 First Interstate's flagship, the First Interstate Bank of California, split its operations into two separate units.
In order to improve up-to-the-minute information on Western's millions of customer accounts, the data processing company developed the Teller Item Processing Systems (TIPS). By 1985, this system was processing 750,000 transactions per day.
In 1987, First Interstate Bank of Texas encountered serious problems with bad debt.
By the end of 1999, First Interstate had grown to 42 branches through a combination of de novo start-ups and acquisitions.
In 2008, the Bank expanded into South Dakota by acquiring 18 banking offices pursuant to the purchase of First Western Bank.
In 2017, the company retained the rights to use the First Interstate name and logo in all 50 states.
In 2019, Idaho Independent and Community 1st Banks joined the Company, officially becoming First Interstate Bank in June of that year.
As of 2021, First Interstate has 150 branches throughout Idaho, Oregon, Montana, South Dakota, Washington, and Wyoming.
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First Interstate BancSystem may also be known as or be related to FIRST INTERSTATE BANCSYSTEM INC, First Interstate BancSystem and First Interstate BancSystem Inc.