04:03 AM EDT, 06/06/2025 (MT Newswires) -- First Interstate BancSystem ( FIBK ) said late Thursday it priced its public offering of $125 million of 7.625% fixed-to-floating rate subordinated notes due 2035.

The company estimates to raise proceeds of about $123.1 million from the offering, which is expected to close on June 10.

The company aims to use the proceeds from the offering to redeem its existing 5.25% fixed-to-floating rate subordinated notes due 2030 on Aug. 15 and for general corporate purposes.