Applications / Mortgage Analytics / Lenders / Montana / First Interstate Bank
Billings, MT · State member bank · FRS · $26.6 billion assets · 2,443 loans in 2025
First Interstate Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
2,443
loans originated, 2025
4,082
applications, 2025
15
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Interstate Bank, a Montana bank lending in 15 states, now makes mostly home-improvement and refinance loans at about a quarter of its 2020 volume, and ranks 11 of 372 lenders in non-metro Montana.
Home-improvement loans made up 42.7% of originations and refinancing 24.2%, with home purchase at 20.8%. Its typical loan, $105,000, is about half its $215,000 of five years before and smaller than about nineteen in twenty similar lenders (state member banks making between half and twice as many loans), whose typical loan was $205,000.
Originations rose 1% to 2,443, near the middle of similar lenders, whose typical growth was 2%, and below the whole market's 10%. Volume fell from 6,564 in 2022 to 2,943 in 2023 and has been close to that level since; it was 9,885 in 2020. One reading is a move toward smaller home-improvement loans, which its smaller typical loan would fit.
It ranks 11 of 372 lenders in non-metro Montana, where United Wholesale Mortgage and Glacier Bank lead, 10 of 239 in non-metro South Dakota and 19 of 314 in non-metro Wyoming. Its Omaha share rose to 0.6% from 0.2%.
Only 2.0% of its loans were in majority-minority tracts, against 11.4% for similar lenders, among the lowest twentieth. Its share in low- and moderate-income tracts, 14.6%, is near the middle. Rural Montana, Wyoming and South Dakota markets, where such tracts may be few, could account for much of the gap.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Interstate Bank took 4,082 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Home improvement 42.7% · Refinance 24.2% · Purchase 20.8% · Other 12.4%
Conventional 97.5% · FHA 1.8% · VA 0.4% · USDA (RHS or FSA) 0.3% · of 2,443 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Montana | 610 | 25.0% |
| South Dakota | 364 | 14.9% |
| Oregon | 317 | 13.0% |
| Wyoming | 306 | 12.5% |
| Iowa | 244 | 10.0% |
| Idaho | 236 | 9.7% |
| Nebraska | 183 | 7.5% |
| Washington | 79 | 3.2% |
| Arizona | 31 | 1.3% |
| Colorado | 29 | 1.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Boise City | 135 |
| Bend | 132 |
| Missoula | 123 |
| Billings | 95 |
| Omaha | 88 |
| Sioux Falls | 84 |
| Casper | 72 |
| Helena | 69 |
| Medford | 65 |
| Bozeman | 58 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300RFSMIRUODUVW59 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 659855 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2659855 | 1992–2017 |
Established 9 October 1916. Reported under HMDA 1992-2025.
Mergers, name changes, data editions and corrections: First Interstate Bank's data.
First Interstate Bank's data
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