GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Interstate BancSystem Inc (NAS:FIBK) » Definitions » Effective Interest Rate on Debt %

First Interstate BancSystem (First Interstate BancSystem) Effective Interest Rate on Debt % : 17.79% (As of Dec. 2023)


View and export this data going back to 2010. Start your Free Trial

What is First Interstate BancSystem Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. First Interstate BancSystem's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $466 Mil. First Interstate BancSystem's average total debt for the quarter that ended in Dec. 2023 was $2,619 Mil. Therefore, First Interstate BancSystem's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 17.79%.


First Interstate BancSystem Effective Interest Rate on Debt % Historical Data

The historical data trend for First Interstate BancSystem's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Interstate BancSystem Effective Interest Rate on Debt % Chart

First Interstate BancSystem Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 57.99 17.72 8.68 5.62 14.60

First Interstate BancSystem Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.99 13.49 16.68 17.79 17.53

Competitive Comparison of First Interstate BancSystem's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, First Interstate BancSystem's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Interstate BancSystem's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, First Interstate BancSystem's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where First Interstate BancSystem's Effective Interest Rate on Debt % falls into.



First Interstate BancSystem Effective Interest Rate on Debt % Calculation

First Interstate BancSystem's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -401.3/( (2610.9+2886.9)/ 2 )
=-1  *  -401.3/2748.9
=14.60 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=283.9 + 2327
=2610.9

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=283.9 + 2603
=2886.9

First Interstate BancSystem's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -466/( (2350.9+2886.9)/ 2 )
=-1  *  -466/2618.9
=17.79 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2350.9 + 0
=2350.9

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=283.9 + 2603
=2886.9

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


First Interstate BancSystem  (NAS:FIBK) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


First Interstate BancSystem Effective Interest Rate on Debt % Related Terms

Thank you for viewing the detailed overview of First Interstate BancSystem's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.


First Interstate BancSystem (First Interstate BancSystem) Business Description

Traded in Other Exchanges
Address
401 North 31st Street, Billings, MT, USA, 59101
First Interstate BancSystem Inc is a financial holding company. It is the parent company of First Interstate Bank, a community bank offering a range of internet, mobile, and other banking and financial services throughout Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming. It delivers a range of financial products and services to both retail and commercial customers in industries like agriculture, construction, education, energy, governmental services, healthcare, mining, professional services, retail, tourism, and wholesale trade. It generates a majority of income from interest charged on loans, and interest and dividends earned on investments.
Executives
Homer Scott Jr Trust, Homer Scott Jr. & First Interstate Wealth Management Co Trustees 10 percent owner FIRST INTERSTATE BANK, TRUSTEE, PO BOX 2007, SHERIDAN WY 82801
Julie A Scott 10 percent owner P O BOX 30918, BILLINGS MT 59116
Jonathan R Scott director P.O. BOX 30918, BILLINGS MT 59116
Kevin P Riley officer: President & CEO BERKSHIRE HILLS BANCORP INC, 24 NORTH STREET, PITTSFIELD MA 01201
Marcy D Mutch officer: Exec. Vice Pres. & CFO PO BOX 30918, BILLINGS MT 59116
Kirk D Jensen officer: General Counsel PO BOX 30918, BILLINGS MT 59116
Lorrie Asker officer: Chief Banking Officer 401 N. 31ST STREET, BILLINGS MT 59116-0918
James Brannen director 5400 UNIVERSITY AVENUE, WEST DES MOINES IA 50266
Ashley Hayslip officer: EVP, Chief Banking Officer P.O. BOX 30918, BILLINGS MT 59116
Scott James R. Jr director PO BOX 30918, BILLINGS MT 59116
Russell A Lee officer: EVP & Chief Banking Officer P.O. BOX 30918, BILLINGS MT 59116
James R Scott director, 10 percent owner C/O FIRST INTERSTATE BANCSYSTEM INC, P O BOX 30918, BILLINGS MT 59116
Heyneman John M Jr director, 10 percent owner C/O FIRST INTERSTATE BANCSYSTEM INC, P O BOX 30918, BILLINGS MT 59116
Kristina Robbins officer: SVP, Chief Operations Officer PO BOX 30918, BILLINGS MT 59116
Philip G Gaglia officer: Chief Risk Officer PO BOX 30918, BILLINGS MT 59116