Enterprise Bank & Trust announced today the completion of its acquisition of twelve branches from First Interstate Bank, a wholly‑owned subsidiary of First Interstate BancSystem, Inc. (FIBK). The transaction adds ten branches in Arizona and two in Kansas to Enterprise’s network and brings approximately $300 million in loans and $645 million in deposits under its control.
The acquisition increases Enterprise Bank & Trust’s total assets to roughly $17 billion, while First Interstate BancSystem divests a significant portion of its branch footprint and deposit base. The 12 branches represent a strategic exit from markets that FIBK has been scaling back, aligning with its focus on core high‑growth regions.
For First Interstate BancSystem, the divestiture reduces its loan and deposit balances by the amounts transferred, but also improves capital ratios and frees up capital for core relationship‑banking initiatives. The transaction is a concrete step in FIBK’s broader strategy to streamline operations and concentrate on organic growth in its primary markets.
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