First Interstate Shares Rise in IPO Debut

Wednesday, 24 Mar 2010 10:50 AM

 

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Shares of regional bank First Interstate BancSystem are rising in their IPO debut after the company raised $145 million Tuesday night.

Shares are up $1.50, or 10.3 percent, to $16 in morning trading.

First Interstate BancSystem Inc. is the first U.S. bank to go public since Encore Bancshares Inc. in July 2007.

The Billings, Mont. bank has locations in Montana, Wyoming and South Dakota.

First Interstate's shares are trading on the Nasdaq Stock Market under the symbol "FIBK."

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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