HoldCo has purchased US$129mil of FIBK’s common stock since March, totalling about 3.8% of the outstanding voting shares in the regional bank. — Bloomberg
BILLINGS: HoldCo Asset Management LP has built up a sizeable stake in regional lender First Interstate BancSystem Inc (FIBK) and told management to swear off acquisitions and buy back even more shares than the lender’s already planning, or the activist investor will push for a sale.
HoldCo has purchased US$129mil of FIBK’s common stock since March, totalling about 3.8% of the outstanding voting shares in the Billings, Montana-based regional bank, according to a presentation seen by Bloomberg News.
